October 2024 – Change jar flip

I am continuing to build up on the clothing area since my last update. I have bought over 150 items since my last update which is almost as many items as I had sold in my entire change jar flip to date. This means I will be selling lots of items moving forward over the next 12 months based on the work which is going into the build up. This also means something else. I am learning a bunch of lessons on clothing. I was not doing a good job of inspecting what I was buying at the beginning and have had to throw away eight pieces of clothing because they had stains or rips which I missed when I bought them. My remedy for this is to slow down and double check everything before I go to buy it. The other thing I am learning about is brands which will sell well in a reasonable time frame. This is allowing me to be able to scout out products much faster than I was before. This is important for me, because I don't want to be spending a crazy amount of time doing this. I am not picking up only clothing as I build up on the number of items I will have. I have been picking up coffee mugs and other items like sheets and some books. I am trying to maintain an average profit of $15 per item. The coffee mugs are very low priced at around $1 each and I have been making a decent return on them too. The books I am picking up either have one or both of the following factors of being able to sell quickly or sell for a very profit amount, and a low cost. Sales I sold 29 items for a total profit amount of $150.39 on a total cost of $368.82. The profit is going to be lower while I work out what I am learning to not make as many mistakes. I also tried to get the Nailer fixed I had bought in March 2024, but took a large loss of $51.49. This is the largest loss I've experience since I've started, but I know it was a realistic risk to take. Just keep on moving forward. As well, I have the cost for the eight items I had to throw away because I didn't notice they were messed up which costs me $38.98. If I take out the mistakes and the Nailer the profit would have been $240.86 on a cost of $278.35. These numbers will be closer to what I may experience moving forward, but the profit number will go up as I learn to pick out better items to get to the average I want. Bass Pro Coffee Mug Current Inventory ItemCostDate PurchasedSoldProfitServing Dish and Bowl$9.297/20/22*2 Coca Cola Puzzles$6.919/13/22*Floral Plate$2.719/26/22*Japanese Stein 1$4.339/26/22*Satellite Puzzle$2.3711/28/22*Board Game$3.781/4/23*Antique? vase$8.112/21/23*Antique Plates$7.563/19/23*Granite Cutting Blades (4)$32.434/4/23*Crystal bowl$5.944/10/23*Coffee Cup- Floral$2.706/20/23*Skateboard$8.117/26/23*Accounting Book$6.279/6/239/11/24$8.24*William Morris Queen Duvet$54.1112/13/23*Peter Reed Reina Blue King Duvet$42.221/3/24*Peter Reed Reina Blue King Duvet$42.221/10/24*Hobart Cutting Tips$6.782/2/24*RNs DVD$1.083/1/24*Utawareumono DVD$1.083/6/24*Craftsman Brad Nailer$43.303/6/2409/09/24-$51.49*1 garage sale tshirts$1.003/30/241 Garage Sale tshirt$1.003/30/249/19/24$1.07*April 2024 items$27.66*May 2024$255.98*June 2024$20.79*August 2024$213.57*September 2024$384.16*October 2024$471.91Wallace & Barnes J Crew Cotton Chambray Style Button Dwon Shirt$6.598/12/249/8/24$14.46Wayne's World Hat Black$1.866/14/249/12/24$1.11Time Changer Blu Ray$.717/23/249/12/24$3.44Blue Brooks Brothers Medium Slim Fit Shirt$1.378/28/249/16/24-$7.09Psycho Bunny Dress Shirt 2 XL Large Single Needle Light blue Logo Button Up Peru$17.319/5/249/16/24$7.15Starbucks Cups$2.368/19/249/18/24$20.13Strike it rich book$2.159/5/249/21/24$5.38Beavis & butthead DVDFree9/23/249/24/24$5.23Goosebumps tshirt$3.249/12/249/26/24$5.96Carhartt Tshirt$5.409/12/249/28/24$1.44Tommy Bahama Black Shirt$7.299/3/249/4/24$10.40Ralph Lauren Green$8.028/6/2410/2/24$10.01Nikon Camera$173.207/25/2410/2/24$30.809 more shirts$40.11Various10/3-10/21$116.902 Coffee Cups$2.36Various10/3, 10/14$8.24StocksVerizon, Altria, British American, Future Fuel$800.37Various$115.78Underinvested$532.46Total inventory amount$2901.35*Indicates purchased from Profit