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How do we get lucky with our flips? This is a question we get on social media. People want to know how we find the items that we do and how we make so much money on our flips. We hate to break it to you, but a lot of it is not luck.
We’ve sold a lot over our flipping career. With three decades of experience, we have seen the different platforms and shipping carriers come and go, so we know what works consistently.
Consistency Is Key
A lot of people see what we do and say it’s luck, but it’s not; it’s consistency. Yes, you can be at the right place at the right time to find an item on the side of the road, but if you build practices into your routine, you’ll be able to find items without luck.
Every day we go for a walk and we sometimes find items on the side of the road on that walk. We walk by tons of times when we don’t find items, but when we are out and about we keep our eyes open. If you go to the flea market or the thrift store regularly, you will find items too. You won’t find something every time, but over time you will find good items to resell. We love showing the potential of something we’ve picked up for $40 and sold for $1,700, but it’s not something that happens every single day.
We have been at the grind, we’ve been consistent, and it pays off now for us to make $70,000 to $100,000 a year. We’re doing it because it’s what we love, what we know, and what we’re very, very experienced with.
Learn A Niche
Picking a niche for reselling can also be helpful. We’ve learned which items sell well for us, so we can consistently look for those keywords on the apps, or look for those items at the thrift stores. You might walk into a place and walk past an item, and then I might walk into the same place and might spot something because I’ve been doing this for 27 years.
When you learn specific items or niches, you start becoming faster at recognizing what’s valuable and will sell. And then you might “get luckier” because you can spot that item faster than somebody else can spot it. Again, it’s really not about luck; it’s that you’ve grown your skill to be able to recognize an item is valuable.
Start Learning Now
If you don’t have three decades of experience, that’s okay. The best time to start learning is now. You can start today and you can start to learn. Ten years from now you’ll be happy you started today.
When you’re learning a new skill, the first year can be tough, but as you get more experience you’ll grow and start to see more return on your time.
Make a decision to go all in and focus on reselling, and you can make it a profitable business.
Another key to being successful consistently is developing good contacts. When you start going to the thrift stores consistently, you can get to know the manager. Or if you buy from someone on Facebook Marketplace who has other items listed, let them know you might be looking for similar items.
We have contacts that consistently sell me items that make me thousands of dollars. Just recently a contact gave me a golf cart as a favor to help him sell three other golf carts. I help him out when I can. He helps me out when he can. It is a mutually beneficial relationship.
If you build consistency with sourcing, you’ll be able to build consistency with contacts. Don’t be afraid to ask for someone’s number or to let them know what you do.
You just have to make that decision, jump in, and go all into it.