I'll admit I've been watching a lot of Flip this House shows.... So as most of us here know, flipping coins is not a very easy thing to do. I'm sure we've all thought we could make a living out of it but not all of us have the eye to catch the great deals like CBD- mad respect for him. So my question for everyone, is there something else you know a lot about and try to make money flipping those items? Besides trying to flip a coin here and there, the other thing I try and flip are shoes. That's right, shoes. I mostly sell Jordan's with a few Nikes thrown in here and there. It's amazing what people will pay for new and used Jordan's! Here's a look at my most recent pick ups. I still have to go through and clean them but they look pretty good!
Flipping coins is easy - making money hard just like you say. For now I just take them to the local shop as I upgrade my collection. Not really the flipping idea, but supper easy for me. I flipped a couple of houses and it is certainly not easy as they make it look. First you have to get it for a really good price, and have to have cheap(but good) labor to do the repairs. I made money, but not enough to keep those kind of $ tied up.
Houses are easy once you get the right people behind you to make it happen. Coins are tough because it's all you, doing the work.
I find that the best case for flipping is if it involves an obsession you're already trying to cope with. I made great money on eBay for a while flipping lab equipment that I bought at a local university surplus store. I knew enough about the stuff to recognize it, and sometimes diagnose problems that were simple to fix. Eventually the store started trying to sell on eBay directly, but the folks making the listings didn't understand the equipment, and it didn't work out very well for them. I did really well flipping RAM, too -- there was a long period where I could buy a certain type of obsolete RAM from a reputable dealer for $20-30, and reliably sell it on eBay for $60-90. Eventually word got out about the reputable dealer, and prices on eBay fell into line. Today, with Google to help find low prices, it would be pretty hard to repeat the performance. I feel like I could do fairly well flipping coins on eBay, but only at a low volume -- the sure-fire deals on the buying side are pretty scarce, and that limits me. So far, though, I've been sort of spooked by the heavy weighting toward buyer protection at the cost of seller protection. I'm at a lot more risk selling than I am when buying.
I flip large cents sometimes for fun. usually make a few bucks a coin. Pays for the occasional happy hour!
I lose money on some coins every single week since I use auction format. I make more than I lose, but I still take frequent losses. Ideally, I could sit on coins using bin best offer for months until they sell. But since I can't sit on my bills for months and months, I have to move product quickly and do my best to learn as I go. The goal is to clear $100k per year, and then permanently move to a bin best offer format, to ensure no losses.
I flip coins all the time. The only time i lose money is when i put them on auction with a low start price. I now start the auctions at break even price and go from there. Some stuff i can't move so after a while i discount them a little. It's been intertwine to see how i evolve in my side business doing this. I used to be happy flipping a nickel and making $4. Now I have grown and get excited at a $40 profit. That's about the level I am at now. I am in no way a big player, but I have cycled some nice coins through my hands I wish I could have kept. Sent from my SCH-I545 using Tapatalk
I'm an antique dealer by trade, so my job is flipping things. It's fun to visit estate sales and by virtue of your own knowledge be able to identify something and resell it for profit. But more recently the market has been overwhelmed with like minded individuals who've seen how much money the pawn stars/american pickers/storage wars folks were making and decided to do it too. And armed with a smartphone & working knowledge of eBay you really can "be your own boss & work from home" as all the how-to books claim, but unfortunately when everyone becomes a dealer the market gets flooded pretty quickly. End of rant! In the last 6-months though, I have been flipping coins full time with a fair rate of success. The baseball HOF release greatly helped the bottom line, but bad photo flips of quality classics has been very nice. A couple of months were very lean, but last week I took in $1,5k in profit on $3k in sales (16 coins) and am quite pleased with that rate of return. I'd love to do that every week, but it's not going to happen lol
I'm also an antique dealer by trade as well as having a restoration woodwork business I flip stuff all the time I bought some proof sets at an estate sale and flipped them fast here made $5 ea but there was 20 I make a living buying selling and restoring 18th c furniture I will often flip stuff fast especially if I don't gotta work on it. Bought a tiger maple server recent at a show for $1200 sold it for a $100 profit in less then 2 minutes I'm working on getting into the coin business and hoping to use the same ideas
