Before I answer this, let me give you some facts and insight on making money working a minimum wage job vs. flipping things.
Here’s the minimum wage data as of 2016 for 30 US States:
The average minimum wage amount from the above data is $8.70/hour.
If you’re working a part time job at 25 hours per week at $8.70/hour, you’re making $217.50/week, equating to $870/month.
If you’re working a full-time job at 40 hours per week at $8.70/hour, you’re making $348/week, or $1,392/month.
Now in the case of a minimum wage job, you’re working for an employer. You have to show up at the same typically every day or every week, punch in, be committed to working those 4 or 8 hours, go home.
You don’t have much flexibility in most cases or freedom.
For example’s sake, at $10/hour, working full-time, you’re making $400/week, or $1,600/month.
So, what about flipping things? How much can you make compared to working a minimum wage job?
Is it possible to make more flipping than a minimum wage job?
The answer is YES. Absolutely.
To all the flipping virgins out there who don’t know what flipping is, let’s cover the basics:
- BUY something at a low or discount price
- IMPROVE it: clean, re-paint, tidy up…
- SELL it at a higher price
But it ain’t all sunshine and rainbows.
Let me explain some pros and cons.
- Pros to Flipping
- Cons to Flipping
- Pros to Working a Minimum Wage Job
- Cons to Working a Minimum Wage Job
Pros to Flipping
1. There’s no ceiling to how much money you can make. You can make $30,000 per year, or $100,000 per year. It all comes down to skill and how motivated you are to learn and take action while following a proven strategy and plan. If you’re a lazy ass who expects free money or you don’t have control and willpower over yourself and zero discipline — this isn’t for you — and you’re better off getting a job and working for someone else.
2. You’ve got freedom of time. No one telling you what to do, where to be, what to wear, who to talk to, when you get to go home, when you have to work, when you have to cancel plans — you can literally set your own schedule, travel if you want, with no limitations or 3rd party commitments. No one’s constantly on your back about things. And you can do it from anywhere in the world. All because you’re working in a profits and marketing business, not a trading-your-time-for-dollars business. One of the best feelings in the world. Freedom is the name of the game.
3. You’re not trading your hours for dollars. When you’re in the business of making money flipping items, you’re no longer in the paycheck and employee world. You’re in the marketing and profits world. Meaning when you’re working a minimum wage job at X dollars per hour, no matter what happens or no matter how “hard” you’re working, you’re still gonna make the same amount of money in that one hour. That means you can show up, be the greatest employee in the world, even do the job of 2-3 employees — and you still won’t likely be rewarded for it or even recognized. You often feel like just a cog in the machine — and you’re replaceable.
However, in the flipping business, how much you make is dependent upon other factors such as your marketing skills, your ability to find deals, your ability to be quick, and other key skills. These money-making skills are all learnable.
Here’s an example:
Let’s say it takes 57 hours of working for the minimum wage worker to make $500.
You instead decide, “Screw that, I’m taking control of my life, income, and time”, and decide to learn how to make money flipping stuff for profit. You go out and make that same $500 in just 60 minutes of “work” — giving you “back” 56 hours of your time you can use to do more deals, spend time with your family/friends, travel, read, do what you love, or even just sit around and do nothing. Hey, nothin’ wrong with being lazy sometimes. But like I always say, if you’re gonna be lazy, be lazy on your own terms and do it with style. ;) If I’m gonna be lazy, I’d rather have money in the bank while I’m being lazy.
Here’s an example of how I made $550 in just 60 minutes flipping ONE item — and I did it all from home while laying in bed.
Read this great blog post to get a much better idea of these two different worlds of flipping vs working an hourly job.
4. Every single day is different. This has got to be one of the top best pros to being in the buy-and-sell business. Every day is different. You’re constantly coming across new deals, new items, new places, new people, new profits, new opportunities. No day is ever the same as before. That’s what makes it so fun. It’s non-repetitive, and it beats going into your cubical job every single day doing the same thing by a million percent.
5. You become a money-making machine. You’re building essential business skills that will serve you forever, in every future business venture you might pursue. You’re becoming your own most valuable asset and you’re completely self-sufficient. You’re not at the mercy of an employer and chained to someone else. You’ve got the hustle muscle and you know how to create revenue, aka MAKE BANK ALL ON YOUR OWN! The greatest skills you can learn in this life that’ll make you the most money and bring you total control over your life are: sales, marketing, and communication. Learn to sell and you’ll never go hungry again *Scar from Lion King voice*
6. You’re going to keep making more money as you get better. This is a pro because if you’re someone who is committed, determined, and serious, the better you get, the more experience you get, the more money you’ll make. You may reach a point where you can even quit your job if you want because you’re able to sustain your lifestyle just through flipping things. A huge pro. You might start small, but you’ll only keep getting better and better as you keep doing it and learning more. “Opportunity for growth” as you might hear in the corporate world. We’re not talking petty $.50 or $1.00 raises either. That’s BS. We’re talking turning $5,000 per year to $30k per year, or $50k per year, or even $100k per year, only within a few months or couple years.
7. Flipping is constantly learning. You aren’t going to show up first month and make 2k. It’ll take you some time to learn and build up, just like you didn’t jump on a bike your first time and ride it like a breeze. You fell a couple dozen times, maybe got discouraged, but you kept getting back up and giving it another shot because you knew you wanted this. And as you get better and better…
8. You become a Rockstar. You’ve gotten so good, your friends, family, and mates are noticing. You constantly attract and make money wherever you go. You’re creativity levels have skyrocketed, you’re sharper, more intelligent, and an all-around awesome person. #RockstarStatus. Plain and simple. You are in control and you determine what happens in your life.
9. ANYONE can do it. The beauty of flipping is that ANYONE can do it! You don’t need any special degrees or certifications to buy and sell online and flip things for profits. You can learn everything you need to know in a fairly short amount of time. You don’t need to be a genius, pay some “initiation” fee to get started, or have some college degree. You don’t need to spend months or years “learning” before you start making money. The moment you make a decision, the moment you make a commitment that “I’m going to commit to learning this and doing this so I can have total control and earn more money on my own” — is when everything changes. You just have to decide. Make a decision.
Cons to Flipping
We discussed all the pros. But I’m not going to paint some sunshine and rainbows picture for you without giving you the truth about the CONS to flipping.
Believe it or not, there ARE cons to flipping, and it’s not for everyone.
Here are some of the cons to flipping that you may experience:
1. If you can’t stay motivated, you’re toast. #2 from above can be a pro, or a con, depending on who you are and your personality. When you’re flipping, you don’t have a boss or someone telling you what to do, when to wake up, how much time you need to put in. YOU ARE YOUR OWN BOSS. It’s just you. It’s ALL you. And you have to make it work. This ain’t no walk in the park for the lazy. If you don’t have control over your own self and your life, you’ve got zero discipline and you just can’t make yourself do things and kind of live each day as it comes in reactive mode, then you will likely fail.
2. If you’re lazy, forget about it. Pure and simple. If you’re lazy and aren’t someone who can stay disciplined, I wouldn’t recommend you get into flipping as a side hustle or even a full-time gig. It won’t work. If you think you can discipline yourself, then yes, you can absolutely make WAY more than an hourly job, but even more importantly, you’ve got your TIME back. Time is freedom.
3. It’s not always going to be consistent. This scares a lot of people. Personally, I love it. Here’s what I mean:
When you’re working a minimum wage job, you’re going to be paid the same amount, on the same day, every week or 2 weeks, everytime, guaranteed.
With flipping, this isn’t a paycheck world. How much you get paid is completely dependent upon how much marketing you do, how determined you are, what kinds of deals you find, and how many items you acquire and sell.
This might sound like a con to the majority of people. But to those who understand the truth of the matter, this is nothing to be afraid of and is actually a PRO, because that means you’ve got flexibility and you can make as much as you want. It all comes down to your skill. The more skilled you are, the more time and energy you invest in yourself by learning, the more money you’ll make and control you’ll have.
But for those who need that (false sense of) security by getting regular, minimum wage paychecks, this may scare you away. But it’s not your fault. The only reason you might feel hesitant is because you’re missing one thing, and that’s confidence. To get confidence though, you will need two things: knowledge and specialized skills. Once you’ve acquired the knowledge and skills to be able to make money buying, selling, and flipping things on Craigslist, eBay, Facebook MarketPlace, from Thrift Stores — virtually ANYWHERE — and once you get a taste of the type of money you can make flipping items for profit, you’ll never go back. If you’re interested in taking things to the next level and jumping ahead, I’ve created a course on flipping that’ll take anyone from $0 to earning $400 to $800 a day flipping things for profit. Visit here to get on the waiting list.
4. If you need to be told what to do constantly and don’t like to use your brain much, this may not be for you. Some people are hungry. Others aren’t. Some people like working hard, constantly learning and growing, using their brain, and making lots of money in the process. Others just like to wake up, go to work, be told what to do, avoid thinking as much as possible, go home, get a paycheck. There’s nothing wrong with the latter. But if you’re that type of person who loves being an employee and just wants to live a repetitive life that way of doing the same thing everyday, you may find yourself having a hard time in the flipping business. I’d give it a shot anyway though before cutting it out – because once you learn the main skills needed, it’s pretty much auto-pilot from there.
5. If you have a family, and other responsibilities, don’t jump into flipping full time until you’re established, skilled up, and are already making good money from it. More than a con, this tip is just a general tip that translates to: don’t start flipping things full-time tomorrow while jeopardizing you and your family’s financial well-being. It might take you a few months or a year to get to that level of being able to jump into it with everything first. Until then, start doing it a little bit on the side in your spare time. That’s the beauty of this business, you can do it as a side hustle whenever you want — even take the fam with you! It’s super fun — and it feels like you’re literally just going out shopping when you’re out there hitting up thrift stores and etc. (you technically are shopping…)
6. If you don’t believe in and trust yourself, it might be tougher. If you don’t believe in yourself and believe in the fact that you can make money through buying, selling, and flipping things for profit, you’ve already given up before you even started.
You’ve got a mindset and belief problem you need to work on first. There are millions of people who are making a lot of money in the flipping business every single day. It’s real and it’s happening. There’s an abundance of money, deals, and profits available to you right now. My advice: if you don’t believe in yourself, or don’t believe in the process, that’s okay. Most people starting out don’t yet have the knowledge, confidence, and skill sets to believe in themselves yet. The fastest way to overcome this is to take action. Action trumps everything. Once you start DOING, you will quickly see results. Once you’re holding a fresh $200 bucks cash in your hand from flipping — trust me — your mind and beliefs will change very fast.
Just remember that the process is simple and works. Flipping isn’t rocket science. Don’t overanalyze it or overthink it. Just do it. Follow what I say and eventually, you will start to trust yourself after you start making money.
Pros to Working a Minimum Wage Job
1. If you don’t like learning new things and growing, a minimum wage job might be perfect for you. You get to go into work everyday, same time, do the same thing, get paid the same amount, go home and relax. You may feel stressed all the time because of how many hours you’re working and how little you’re getting paid, but it beats using your brain, learning new things, growing, and getting out of your comfort zone. Even if you’re struggling, you’ve become comfortable struggling and have accepted your destiny.
2. You get paid the same amount every week or two weeks — guaranteed. Unless you lose your job or get fired, you know you’re going to get paid every Friday or every other Friday, which makes you feel good and confident. You’ve got that sense of security.
3. Make regular friends/work mates. When you’re working a minimum wage job, you’re likely seeing the same people everyday. This gives you the opportunity to potentially build new friendships, relationships, and connections with people. It could also do the opposite; you might meet people whom you dread working with and are stuck with.
4. Potential opportunity to move up. If you’re working a minimum wage job, you might start seeing opportunity to move up positions, or get pay raises. Even if they’re small, they’re still somethin’.
5. Great if you don’t value your time. If you don’t value your time, or will just sit home on the couch and watch TV otherwise, working a minimum wage job might be better than that. At least you’re making something, vs. wasting time doing nothing. As they say, hard work never killed anyone.
6. Might serve you temporarily. If you haven’t yet developed the right skill sets of flipping things for profits, and a minimum wage job is all you can get right now, it might be best for you to work that minimum wage job, while flipping things and learning outside of your work or on weekends.
Cons to Working a Minimum Wage Job
1. Low pay. The most obvious. You’re getting paid in peanuts.
2. You’re giving away a lot of time, for a little money. Money comes and goes. Time, once it’s gone, you can never get back. Time is more valuable than money. One person can spend 8 hours of time working a minimum wage job and make $70 bucks, while another person can spend 8 hours building a multi-million dollar company. We all get the same 24 hours in a day.
3. You don’t have control. You don’t have control over your schedule, your pay, your hours, your environment — none of it (usually). You get told what to do, and you must do it. You can’t always take the day off if you’re not feeling good or just not in the mood.
4. No growth. There may not be much room for massive growth or more money. Many people tell themselves they are “being patient”, but being patient will not help you. Being patient might keep you working there for the next 20 years. You don’t have that kind of time and I’m sure that’s not what you want to do. Don’t wait for someone to come “save you”, it’s not gonna happen. You are completely responsible for your own success, promotions, and even how much money you make. The time to take action is now.
5. No personal growth. Most likely if you are working a minimum wage job, you’re doing the same thing everyday. Or you might be doing things that don’t require much learning, thinking, or growing. This cuts into your personal development time which is never a good thing. Instead of getting better and moving forward, you’re stuck there. While everyone around you might be moving ahead in life, as long as you are physically working there, there’s no movement happening. Of course, you can continue to build and grow outside of work though. But remember that a full-time job is taking 40 hours of your time — every single week. That’s a lot of life.
6. You’ll never get rich working a minimum wage job. You’ll never get rich working a minimum wage job. Ever. You’ll never develop financial security and freedom while you continue to pour all of your energy and hours into a low paying job. I’m not talking about outside of work here; but strictly IN your work. You of course have the potential to do it if you keep moving up and take the reins within your company (worked up to CEO for example), but as long as you keep that minimum wage position, it’s not gonna happen. You’ve gotta make that decision, create a plan, then work that plan. Your employer won’t do that for you. It’s your job.
So, what do you think? If you had to choose between one or the other, which would you choose?
Here’s my opinion:
- If you can stay motivated, love to learn, are disciplined and want to make WAY more money than a minimum wage worker ever will, flipping is for you.
- If you want to take control over your life, schedule, decide how much money you make, and have complete freedom, the flipping business is for you.
- If your goal isn’t to become the richest person in the world and you don’t care about money — you just value your time and freedom and want to spend your days doing what you want, on your own terms, then flipping is especially for you. It doesn’t take much time or effort to make good money, so you won’t need to work much. Yet, you will have so much more of your time back.
But if you can’t stay motivated and need to have a boss breathing down your neck all the time, then you might be better off working a minimum wage job if you have to.
Do you have to choose one over the other? Absolutely not.
Keep in mind, this article isn’t bashing working a job by no means. I just want to create some contrast for you to think about. I have nothing against working a job, nor do I think it’s “below” me. In fact, I think people who think they are “above” working a job and refuse to (while they’ve got nothing else going on for themselves) are destined for failure, and their false sense of arrogance might come back to bite them someday.
I’d say do both if you feel more comfortable. It’s definitely possible to make more money flipping things, but it also does take time to build up your skills and “find your groove” (create your daily routine and schedule, processes, etc.). Working a minimum wage job might also help you be more stable and increase the money you have to invest in buying things to resell, although you can get into the flipping business with zero money as well (I show you how in this article).
If you’re a younger guy or gal, it’s better to do it when you’re younger when you may not have many responsibilities, a family to take care of, extra bills, or still might be living at home.
Either way, wherever you are on the spectrum, whether you’re a:
- College student
- Working professional
- 9 to 5er
- Stay at home parent
- Someone who just wants to make more money, have more freedom and live a better life
Give it a shot because it’s something you can do in your spare time and doesn’t take a huge time commitment. I personally have made $32,100 in one year just through flipping things all in my spare time (weekends and some days after work) — while working a full-time job. And that was during my early years of flipping when I was first getting started.
It’s not a question of does it work or not. It’s a question of, are you ready to invest in yourself and learn, grow, and develop skill sets that will make you successful?
I’ve spent a decade and over $250k in the trenches learning this and doing it.
The flipping business has completely changed my life and allowed me to do cool things like buy cool new used cars (BMW, Mercedes, Porsche), take fully paid-for exotic vacations, and buy my first house at 24, which I then turned into a rental property — all from flipping.
(I then used flipping again to update the house — things like all stainless steel kitchen appliances, updated light fixtures, new paint jobs and more — which meant I was able to charge higher rents!)
I’ve flipped over 3,000+ items (written over 3,000+ ads), and have made over $100,000+ in sales flipping things in one year.
Flipping is the perfect side hustle if you want to continue working your paycheck job while making money on the side.
If you develop the skills and knowledge to flip profitably and effectively, it’ll always be something you can call upon and use. Whether you’re attending college or whatever else you do. It’ll always be an income source and skill set you can take anywhere with you — because YOU are the asset and money-making machine at that point. Even if financial times are tough.
Start small and scale up as you need or want to.
I can take anyone from beginner status to earning $400 to $800 per day flipping in just weeks. It’s a bold promise, but that’s how confident I am in this, and I’m a living example. It’s really not that difficult when you have the right tools, strategy, and process. Process is key. Following a proven process means you’re not doing it blindly.
Check out the Flipping Ninja Course Today if you’d rather skip wasting time and money trying to figure it out on your own — and would rather start learning from a pro sooner than later so you can get out there and profit immediately. Enrollment is only once or twice per year — so make sure you get on the waiting list.