I grew my overall amount by more than 20% since my last update in about one month. This can all be attributed to one great flip really. The Canon camera I bought sold for a huge $750 plus shipping making it by and far the largest flip overall in profit for me at $279.24. I sold it on April 19th and was getting a ton of traffic on it from the day I listed it. The success of the cameras I have bought and sold has been amazing. I am still learning more about them while I am flipping to make myself better able to pick up these items.
I also sold the Madden games and lost $.33. I knew the margin would be thin, but wanted to test out some video games. I’ll try some more in this area, because I should be able to move them fairly consistently. I don’t like having inventory that doesn’t sell.
I sold three of the knives and made $.24 on them. I know my buy point for these much better now next time I see some knives, which is around $5-$6 each because they get good views, but the amount of profit would be couple of dollars at that level. I know there are other things I can buy at this price point and double my money more easily. As well, I don’t know much about them and one I sold the customer told me I listed the wrong knife. They weren’t upset so I could have sold a knife which was worth a lot more, or sold them something they still liked. Either way I would need to niche down in this area to be proficient and I already know a good amount about some niches to make money in consistently. Unless I see a really good deal I won’t buy knives again.
I sold the Bass Drum Pedal and made $16.70 on it. This is again a good flip and turned $8.11 into $24.81. Small amounts can turn into something good.
I sold the Fireproof DVD set for $8.50 and made $.83 after shipping. This goes back to my old days of flipping books. This can be a consistent winner if I were to inventory up in this area only. I’ve been buying some books with really good multiples lately, but it is likely not the best use of my resources overall. However, an easy flip is an easy flip.
Last I sold one of the t-shirts I bought at the garage sale for $8.99 plus shipping and made $6.85 of profit. This turned $1 into $7.85. Garage sales are definitely a place of so much value if someone wanted to take a small amount and build it as fast as possible. I know there are people who specialize in clothing only at the $1 price point with large inventories who absolutelty crush it in the flipping arena.
Thought Experiment of Flipping One Dollar T-Shirts
Let me delve into this a little bit. Let’s say I took $500 and planned on paying $1 at garage sales till I had used all of my money on inventory. What do I think would happen.
- I would have to get lucky to ever get all my initial $500 invested before I made sales. You might be able to buy 100 shirts in your first weekend, unless you put in a bunch of hours your first weekend, and there were enough garage sales close to you.
- Once I had 500 t-shirts I would have around $3500 in potential value after fees and shipping to customers.
- Next, I would want to list the 500 as fast a possible. 15 a day till they are all online.
- Then, I would get on a consistent posting cadence on ebay and try and list at least 5 a day. I’ll get more views this way.
- Sale through rate would hopefully be 10% of my inventory a month. At 500 I would sale around 50 a month. This would be $350 a month rough profit off of $500. I might need a small storage unit where they are. I’ll take out $80 a month for this. That is a winner. Around $3200 a year with no risk after two months, because I got my money back. It would be a good hourly rate too after the initial ramp up because I would need to get 50 to replace those I sell.
- I may have just talked myself into doing this.
If I were to restart changejarflip I would take my initial money and just go to garage sales over and over at first. Most people just want to be rid of what they have and you could pick up stuff for a $1 or less or even free and build it up quickly. I could do the t-shirt flip build up and cash in a nice amount a month.
Buys
I bought three items on April 29th, a book, a Craftsman Weedeater, and an old Singer Sewing Machine from Goodwill.
I also put some of my profits into shares of dividend paying stocks. I bought one share of Altria, and six shares of British American Tobacco. I think British American Tobacco is extremely undervalued at this time and the dividend amount equates to over a 10% yield.
I am trying to build up an amount of recurring passive income as this goes along to show how I can sell things and turn them into a change jar which refills without me having to make that happen. My first goal is to get this to $36.38 a year, which I could right now, if I bought a little more British American Tobacco, but I want to see if I can find some more cameras first to sell and want the money I have in case they are expensive, like the Canon was. I am underinvested $540.40 currently.
Closing price as of today for the three stock I own : Note Verizon pays a dividend on May 1st, which I will reinvest in more Verizon shares.
VZ $39.49
MO $43.81
BTI $29.42
Current Inventory
| Item | Cost | Date Purchased | Sold | Profit |
| NFL Puzzle | $3.45 | 6/27/22 | ||
| Serving Dish and Bowl | $9.29 | 7/20/22 | ||
| *2 Coca Cola Puzzles | $6.91 | 9/13/22 | ||
| *Floral Plate | $2.71 | 9/26/22 | ||
| *Old Spice Cologne bottle | $3.25 | 9/26/22 | ||
| *Wood block set- kid’s toy | $2.17 | 9/26/22 | ||
| *Japanese Stein 1 | $4.33 | 9/26/22 | ||
| *Satellite Puzzle | $2.37 | 11/28/22 | ||
| *Board Game | $3.78 | 1/4/23 | ||
| *Antique? vase | $8.11 | 2/21/23 | ||
| *Antique Plates | $7.56 | 3/19/23 | ||
| *Rollerblades | $16.77 | 4/1/23 | ||
| *Granite Cutting Blades (4) | $32.43 | 4/4/23 | ||
| *Crystal bowl | $5.94 | 4/10/23 | ||
| *Perfume bottle | $8.11 | 4/10/23 | ||
| *Casserole dish | $8.11 | 5/17/23 | ||
| *Nike Air Jordan V.5 Canvas | $27.11 | 5/22/23 | ||
| * Air Jordan Flight Remix Wolf Grey | $42.50 | 5/24/23 | ||
| *Coffee Cup- Floral | $2.70 | 6/20/23 | ||
| *Twin Duvet Set | $25.98 | 6/21/23 | ||
| *Skateboard | $8.11 | 7/26/23 | ||
| *Queen Sheet Set Brown and White Plaid | $64.94 | 8/23/23 | ||
| *Accounting Book | $6.27 | 9/6/23 | ||
| *Brooks Brothers Sheet Set | $12.99 | 9/8/23 | ||
| *William Morris Queen Duvet | $54.11 | 12/13/23 | ||
| *Peter Reed Reina Blue King Duvet | $42.22 | 1/3/24 | ||
| *Peter Reed Reina Blue King Duvet | $42.22 | 1/10/24 | ||
| *Hobart Cutting Tips | $6.78 | 2/2/24 | ||
| *Ralph Lauren Queen Green Teal Sheet Set | $64.94 | 2/5/24 | ||
| *PDP Bass Drum Pedal | $8.11 | 2/26/24 | 4/11/24 | $16.70 |
| *Cabbage Patch Kid | $3.78 | 2/26/2 | ||
| *Madden 15,16,17,18 Xbox | $4.29 | 3/1/24 | 4/7/24 | -$.33 |
| *Matthew Lesko DVD | $1.08 | 3/1/24 | ||
| *RNs DVD | $1.08 | 3/1/24 | ||
| *Fireproof DVD set | $1.08 | 3/1/24 | 4/21/24 | $.83 |
| *Adidas Nastate Size 13 | $16.77 | 3/2/24 | ||
| *Comics (23) | $21.43 | 3/5/24 | ||
| *Pocket Knives | $37.88 | 3/6/24 | various | $.24 |
| *Pocket Knives | $48.71 | 3/6/24 | ||
| *Utawareumono DVD | $1.08 | 3/6/24 | ||
| *Nike Aunt Pearl Size 7.5 with box | $20.57 | 3/6/24 | ||
| *Craftsman Brad Nailer | $43.30 | 3/6/24 | -$8.59 | |
| *Pole Saw | $35.72 | 3/19/24 | ||
| *Principles Book | $3.24 | 3/20/24 | ||
| *Canon camera | $403.00 | 3/27/24 | 4/19/24 | $279.24 |
| *1 garage sale tshirt | $1.00 | 3/30/24 | 4/28/24 | $6.85 |
| *4 garage sale tshirts | $4.00 | 3/30/24 | ||
| Stocks | ||||
| *1.035 Share – Verizon | $33.75 | 9/29/23, Div Dates | $7.13 | |
| *1 Share Verizon | $38.92 | 1/18/24 | $.57 | |
| *1 Share Verizon | $40.88 | 2/23/24 | $-1.39 | |
| *1 Share Verizon | $40.04 | 2/28/24 | $-.55 | |
| *1 Share Altria | $41.92 | 4/8/24 | $1.89 | |
| *6 Shares British American Tobacco | $177.24- $29.54 PS | 4/23/24 | -$.72 | |
| Underinvested | $540.40 | |||
| Total inventory amount | $1569.85 |