We all get tired of our job sometimes, especially if you’re working the corporate 9-to-5 grind. Not only is it boring, but there’s little room for you to increase your earnings into whichever amount you’d like. It’s usually the same ole, same ole.
Good thing there’s flipping, which is basically buying something at a low price, refurbishing it/fixing it/cleaning it up, and then selling it at a higher price alongside better branding and marketing techniques. In simpler words, it’s your kind of buy-and-sell business.
But what about it?
Well, here are some of the frequently asked questions about flipping.
How much can you earn from flipping?
There’s no definite answer to this because you can earn as high or as low as you’d want. It all depends on the amount of effort and time you put into flipping.
I KNOW! Not the answer you want to hear…
But don’t worry… because I’ll give you an example of what’s possible and what you can do once you get into flipping things for profit.
Not too long ago I was at the gym getting in a quick workout. I decided on my way home to swing by a Thrift Store to see what I can find.
Ended up picking up this chair for $30 bucks:
…and ended up flipping it for $650 just 3 days later.
Literally just bought it for $30 bucks, took it home and posted it up for sale on Craigslist with new pics & a new description, and BAM! THREE DAYS LATER… I was holding $650 cash.
That’s like a WHOLE MONTH’S RENT for a lot of people.
Isn’t that insane?
And that was just one, quick, measly flip. Imagine what you could do if you put in more time.
BUT I know some of you need actual answers. Numbers. So I’ll generalize it for you.
Say for example you were to go all-in on your newfound flipping career and you spend a max of 3 hours daily and you’ve got really good ads alongside an item you’ve got for a great deal. Then expect to earn up to $1,000 monthly or even more starting out (this quickly changes as you build momentum and gain experience).
What more if you’d spend five hours per day? Or eight hours per day? That’s what’s great about flipping because there’s no limit on how much you can earn.
But a safe answer for that if you’re just treating it as a side hustle, as a 100% complete beginner would be around $500 – $1,000. Don’t worry, though, because you’re going to get better and faster at it through time. And when you do, then you’ll surely earn more.
How long does it take you to earn big in flipping?
In my case, I got around $500 per month after my first two to three months of flipping — totally half-assing it and not taking it too seriously. I’d say most people can earn $500 per month flipping things for cash fairly easily. For others, it may be hard at first, but you eventually get the hang of it. Now, I earn way more than that as sometimes, it only takes me around a few hours to get a whopping $500 – $1,000+.
There’s even one guy I know who makes $100,000 yearly just by flipping things — strictly eBay sales. But this still varies depending on your pace, approach, and techniques used. You just need to be really fast. Speed is one of the biggest secrets to making money fast flipping.
This means that you need to be up-to-date with the latest ads on Craigslist and act on it as soon as possible. Or when you see an opportunity at a Thrift Store, Facebook MarketPlace — or anywhere for that matter — you must act fast. Make a decision.
Grab a good deal offer if you’ve got the chance, fix and make it function and look better fast, and then post it along with a couple of great-looking photos. Speed is your best friend here if you’d want to be a successful flipper.
How many hours do you need to work weekly?
It depends on your speed. You can work as much or as little as you want. But if you’d want to make the most out of flipping, then pour in loads of time. Especially starting out.
The reason for this is the more experience, momentum, and exposure you can give yourself, the more money you’ll make faster. The experience will compound and your skills (and profits) will multiply very quickly. This also means you’ll soon make more money in less time.
Nonetheless, you can spend an hour or two per day and get around $100 to even $500 daily depending on the items you purchased and sold.
When I was still starting out, I spent around just five to ten hours per week, sometimes, I even forget about doing it but I still earned around $500 weekly. What more if you’d go double-time on this? For sure, you’ll rake in thousands of bucks!
How quickly do you flip items?
Again, it depends. But if all goes really well, some of my items sell in just a couple of hours. If that happens, then that’s one good sign that you’re doing a very good job of flipping things. This means your marketing is on point, your photos, your ad descriptions, and your platforms in which you post your items on. You know your stuff and you’re in control of your business.
Unfortunately, that’s not always the case. There are times when an item would get stocked for a few weeks, but it seldom happens that they get stocked for months.
The average time an item sells is a few days to two weeks at most. Take note, though, that if your items take too long to sell, let’s say around a month or so, then you need to reassess your ads and flipping process. If you’re having trouble getting your stuff sold, then take a listen to this podcast episode that shows you what to do when your item isn’t selling.
What transportation do you use when flipping?
The best transportation you can use when you’re full in onto flipping is a pickup truck. Not only does it have lots of cargo space, but it’s got a strong towing capacity as well so you don’t have to worry if you’re loading it with a bed, couch, or any heavy appliance.
You surely don’t want to get a sedan, right? But in my case, that’s where I started. I then soon realized that you’ll earn more if you’re going to flip bigger items. And so, I rented trucks from Menards or Home Depot for around $18 for 75 minutes. It’s a pretty sweet deal. Then for every 15 minutes you go past the 75 minutes, it’s only $5 bucks.
It wasn’t that bad, but when I earned even more, I finally decided to invest in my own pickup truck. It doesn’t matter if it’s old, rusty, or rugged-looking. What’s important is that it can transport big items with ease. My first pickup truck cost me I think just $800 bucks. You can see how it can quickly pay for itself.
However, I already sold my pickup as I now use strictly an SUV. If I ever need to move a larger item, either I’ll rent a pickup truck or call up one of my movers to transport the item.
Where do you store your flipped stuff?
You can store your purchased items for flipping virtually anywhere that is safe from the elements. In my case, I just store them in some corner of my house, a room in my house, in my garage, or in my rented storage unit (strictly for storing large-item flips). It’s not that much of a big deal, though, especially if your items sell in just a couple of days or a week at most.
Why am I not earning enough from flipping?
There are a lot of reasons why you might not be earning enough. One of the best reasons might be your unattractive ad. Make sure that your photos are of high quality. They should be clear and crisp. Back then I would have recommended using a DSLR camera to ensure quality, but smartphone cameras these days are so high quality that they will do the job perfectly. I use my Samsung Note 9 to take all my photos.
It should also be solely focused on the item. Second are the details you include. Make sure you use the right adjectives when describing the item in an appealing way. Don’t sound too sales-y, though, but see to it that you provide the right details. And be as informative as possible.
When it comes to making big money flipping things — the money is truly in the marketing. Get the following right and you’ll be making big money fast (in no particular order):
- The item
- The offer
- The photos
- The ad description
- The selling channel (website or platform you decide to post your item on)
Nail the above things and you’ll easily bank $400 – $800 a day flipping things for profit. That’s more than most earn working full-time jobs, yet in a fraction of the time.
Where to flip aside from Craigslist?
Craigslist might be a great place to flip, but it surely isn’t the only one. You can also try eBay, Amazon, and even Facebook Marketplace. The more selling channels, the more eyeballs you’ll get on your item. You don’t want to limit your market and potential clients into one place. Instead, spread out our ads into as many places and people as possible for maximum exposure and a higher likelihood of having them sold.
It sure sounds compelling to flip things, right? I mean can you see yourself doing it? It’s really not that hard, although at first, you may have a slight learning curve — especially if you don’t know where to go to find stuff or you have no idea what items to flip. If you want a headstart, then feel free to check out The Flipping Ninja Blueprint. It’s a complete flipping mastery course that I’ve made that’ll teach you the basic and advanced ways of proper flipping. Marketing is especially huge, as well as product selection – and we cover it all. Take advantage of a flipping pro while saving years of time, money, and hustle and give it a shot if you’re looking for an extra side hustle.