Side hustles are a great way to earn extra money. There are many ways to earn money without dedicating time to operating an official business. You can flip your money by finding products you can resell at a profit. It can be really fun and satisfying, too. Let’s take a look at what’s involved.
Flipping, or reselling, is the act of buying something with the intent to sell it to turn a profit. By doing this, you’re turning your money into even more money. If you can find the right item or buyer, you can make a lot of money fast.
Want to get started and flip your money today? Here’s everything you need before you start reselling for profit:
Before you start flipping, you want to think of what to sell. Some things will sell like hotcakes but won’t make a huge profit per sale. Other items will take a while to find a buyer, but the payout can be incredibly lucrative.
If you want some ideas on what to sell and how to make money, check out my article here.
You’ll need some money to start with before you can start flipping. This will be used to buy the item you’ll flip and repair/refurbish it if necessary.
Once you have your product, your next move will be to find your buyer. Thankfully, there are a handful of places you can sell your stuff, such as:
Since 1995, Craigslist has helped Americans sell all kinds of items for completely free! It’s still a popular website for sellers and resellers to this day, boasting over 250 million monthly visitors.
If you have a Facebook account, you can also use Facebook Marketplace to flip your money. When you’re flipping on Marketplace, your items will be shown to many people – even those who don’t realize they need what you’re selling. If you’re in a rush, you can even boost your listing and show it to more people.
Not only is it a great place to find buyers, but it can also be useful for finding things to flip too!
With over 138 million active users, eBay is also a great place to flip your money. The best part about using eBay is that they make shipping much easier. You’ll appreciate this if your buyer lives in a different city or state.
If you live near a busy street, a yard sale can be a great way to sell your stuff and fast. Just be prepared to haggle!
Quick tip: listing what you’ll be flipping on multiple platforms doesn’t hurt! Doing this will help you find a buyer more quickly! Just be sure to take down your listings once it’s sold.
People are always looking for cabinets, drawers, and bed frames. Buying some old wooden furniture and having them upholstered can sometimes sell for double what you initially paid.
“Vintage” is a hot style right now, and you’d be surprised at how much people will pay for antique items. Antiques like chairs, picture frames, or pretty much anything that looks old can sell for quite a bit of money. However, you’ll have the best luck selling antiques that are kept in good condition.
Collecting is an expensive hobby–and this is a good thing if you’re looking to flip your money. You can make a lot of money by selling to collectors if you find the right items.
One popular example is Funko Pop figures. These little guys can sell for up to $100,000, but most aren’t worth much.
Biking can be deceptively expensive. Some bikers report spending about $700 on their bike every year! This usually goes to maintenance costs and upgrades. Even if you don’t bike, buying some bike parts could be a good idea. Then, you can flip them to people who need them more.
Car parts, especially for less-common models, can be a great item to flip. If you know your cars, you could visit your local junkyard and find some pieces to flip online.
Microwaves, toasters, blenders, and other household appliances get tossed away all the time. If you’re handy or know someone who is, you can get them fixed up and sell them for a profit.
It’s no secret that “Sneakerheads” will pay an arm and a leg for the right pair of kicks. You could be one pair of Air Jordans or LeBrons away from being a few hundred dollars richer!
Not everyone knows the value of certain watch models and brands. Checking out thrift stores and yard sales can be a great way to get some good ones for steal prices. Just make sure you’re not buying a fake.
Brand-new instruments are expensive, so people are always checking the second-hand market for a new guitar or ukulele. You might find a guitar that needs a change of strings, which you can find at your local music store. Bundle it with a pick, capo, and tuner, and you can sell a whole beginner musician’s pack!
There are a lot of ways you can flip your money from gadgets. Old gadgets that don’t work anymore can still be taken apart for their components, like batteries or memory cards.
One way you can use gadgets to turn a profit is to trade them in. For example, you can trade a 2015 Samsung Galaxy phone for a brand-new one at AT&T.
Anyone who’s ever been to a thrift store knows you can get insanely lucky with your finds. Some people have found genuine designer clothing at regular thrift stores and sold them for profit.
If you’re serious about checking out thrift stores for profit, try to visit thrift stores near rich neighborhoods. You’ll have a higher chance of finding more expensive clothing in more well-off areas.
While technically a collectible, these deserve their own section because there’s a bit of luck involved. If you’re feeling lucky, you can buy multiple packs of these trading cards and sell everything you unpack. With some luck, you could even pull a rare card that pays for your initial purchase and then some.
If you are flipping cards, you want to keep your cards in mint condition! You should invest in sleeves or protective coating if flipping them.
Note: there is a chance you lose money by unpacking trading cards hoping they all turn out to be duds. It’s pretty much gambling and is by no means an investment. But, with how easy it is to find buyers for rare cards, it may be worth the risk.
Fans of sports teams and musicians are always looking to score some of their merch. Concert T-shirts, specifically, can be a hot item because they tend to be limited in supply.
There’s always a new parent looking for a crib, stroller, or some baby clothes. Thankfully, these items can be picked up at local yard sales from households that no longer need them. You can pick them up and sell them online for a profit if they’re in good condition.
Many people buy workout equipment only never to use them and sell them at a discount. If you want some easy money, you can snatch them up at discounted prices and sell them for profit.
Some people are too willing to part ways with their leather jackets, boots, or other leather items. These items, when cared for properly, can age incredibly well. Some people may even search for vintage leather because of how it looks.
You can flip your money if you can find some well-maintained leather pieces.
Lego sets can be incredibly expensive when bought brand new. Even used sets and pieces can sell for incredibly high prices. Be sure to check those yard sales since you never know when you’ll be sitting on a Lego gold mine! In fact, buying Lego might even be a better investment than gold!
Since many video games no longer use discs or cartridges, they’ve become a bit of a collectible. Certain old Playstation and Xbox games can fetch a nice price on the used market.
Some of the most prominent are the Pokemon games. Pokemon Gameboy cartridges can go for $100 or even more. And unknowing people will sell them for dirt cheap in a yard sale.
You could find some gems if you head to the bargain bin at your local TJ Maxx. Certain pieces of clothing, like jeans and jackets, will always be in style and in demand.
You can also use coupons to make money. By buying something with a discount coupon and then selling it immediately, you’ll earn a small profit. Check out some of the best coupon code sites to try this out.
Flipping houses is the most expensive way to flip your money but it can also be the most lucrative. With enough experience and the right buyer, you can make thousands of dollars in profit by flipping homes.
Flipping can be a fast way to multiply your money, but it’s not the only way. By joining the money squad, you can find more money tips like the ones in this article! It takes a few seconds, and you’ll receive potentially life-changing financial tips every week. Sign up today!
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Dollars Makes Cents by Shaquana, Financial Coach and Wealth Expert, resources helps professional millennial women of color with the tools and skills they need to eliminate their debt, amplify their savings, and build generational wealth — without having to compromise their lifestyle.
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