012: Weekly Q&A: Toys Worth Flipping? How To Spot Deals Quickly? Flipping with Little Money To Spend? Estimated Hourly Income when Flipping?
The Flipping Ninja's Weekly Listener Q & A offers highly-focused, non-theoretical, no-nonsense Q&A.
This week's Questions:
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What do you estimate your hourly income is both DURING the first month you started a serious effort on CL?
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What techniques do you use to spot deals quickly? Do you find that most sellers are available to have you pick up things that day?
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Could you go more in depth on talking down prices or haggling with Craigslist sellers?
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How can I get started with flipping if I don’t have any money to spend?
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I’ve been thinking about flipping or buying toys and selling them on Craigslist, but this is something I don’t know a lot about. Do you have any idea if toys on Craigslist can be picked up cheap enough to turn a profit, or if it’s worth reselling them on Craigslist?
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What items should I focus on to make the most money when I’m just getting started?
On this week's episode you'll also discover:
- How to setup Craigslist Alerts so you're notified everytime a MONEY-MAKING DEAL/OPPORTUNITY gets posted (you can jump on it before anyone else).
- How much money can you make per hour flipping? $25? $170? $500? It depends on this one thing...
- The one thing that almost nobody does on Craigslist – that can make you thousands of dollars starting today (it takes 30 seconds to set up once you're logged in BAM – you're done).
- How to STOP spending all day long on Craigslist browsing for deals... and instead make deals COME TO YOU (while you're having dinner with your family, watching a movie, or relaxing).
- How to create "virtual salesmen” who constantly bring you deals automatically, 24/7. You get all of them first, then decide if you want to take it or not.
- Interested in selling and flipping toys on Craigslist? Before you start crushing it with used toys on eBay, Craigslist, or Amazon, keep this one thing in mind (covered in podcast)
Quotes:
"Work for wages, and you'll make a living. Work for PROFITS, and you'll make a fortune." - Jim Rohn
"You can't hit a target you can't see, right? So you have to SEE your targets so you can improve on them."
“You don’t need any money to get started flipping. A lot of people use that as an excuse to not do it. You don’t need money to make money in the flipping business. All you need is time, energy, and courage. Creativity.”
“There are plenty of ways to make money flipping without actually spending money.”
"If you're a flipping ninja, you have the Eye for the Deal™. What is the Eye for the Deal™? The Eye for the Deal™ is when you reach that point where you just have that eye; you see profit potentials immediately. When you go to the store, or when you're at a garage sale, or when you're browsing Craigslist – all you see is dollar signs."
"You can see right away if you're gonna make money on something, and HOW MUCH you're gonna make on it. Right away, instantly, subconsciously – you don't even think about it. Just like how your heart beats on its own without you consciously doing it. Once you develop the Eye for the Deal™, that's what it becomes like."
"Developing The Eye for the Deal™ takes experience, practice, knowledge, etc. But once you got it, it's literally like you've got this beacon – this superpower that works for you 24/7 – recognizing deals, profits, opportunity."
“For toys, focus on eBay, but don’t disregard Craigslist.”
"Part of my philosophy is I wanna help you make as much money as possible while doing as little work. Call it lazy, call it smart, call it efficient, call it resourceful – whatever you want to call it – I don't really care."
"The key is to make as much money as possible, in as little time as possible. Because you want TIME to do what you want. You want that freedom. That's what it's all about – freedom, isn't it?"
"Part of helping you make as much money in as little time possible is pointing out things that you're doing NOW. Recognizing things that you're doing NOW, that take up time. Seeing if you can automate it somehow. Seeing if you can setup a way for you to keep getting the same result – without you having to DO THE THING."
"The traditional method of your regular average flipper who buys things and resells them or someone on the Internet teaching this stuff, aka the "low level", "poor man's way" of doing it would be this: you constantly pull out your phone every hour and go on Craigslist and search "Yamaha Keyboards". See if someone posted one for sale. I mean you'd be checking it ALL THE TIME, you don't wanna miss those deals, right? So it's like every second of your life -- you're like 'I GOTTA SEE IF SOMEONE POSTED IT! I GOTTA SEE IF SOMEONE POSTED IT! I DON'T WANNA MISS OUT ON IT – LET ME SEARCH!' You could be sitting there at a movie with your girlfriend. And you're literally chained – you're anchored and chained to your phone, and you're constantly searching on Craigslist. Now suddenly... think about how that would impact your whole life. And that's just for Yamaha Keyboards! That doesn't sound ideal, and that's not what I teach. Efficiency and freedom is the name of the game when you're flipping things -- The Flipping Ninja way."
“There could be a seller selling an item, and there could be 2 flippers contacting them. The seller will tell the first flipper, “No, I can’t do today, I’m available next week.” But at the same time, he’ll tell the second flipper, “Yeah, I could do today, how about 4pm?” What’s the difference? Why is it that he said “No not today” to the first guy, and “Yeah today works for me, I could swing it” to the second guy?
“It’s because there’s a way of communicating with sellers. There’s a way of speaking to them. Whether through text, whether through phone, whether through email. There’s a way of taking to them that will get them to meet you today. It’s what you say. The words you say. Your approach. So if you know what that is, if you have the information and tactics – literally word for word what to say to sellers to make absolute sure that YOU get that deal the SAME DAY (or as quickly as possible) – there is a way of speaking and communicating to them that will let you win the deal."
“One thing to keep in mind is, these people selling these items; they’re not people like you and I who are flipping things to make money on the side. These are just regular people who are looking to get rid of their items – for whatever reason. So it’s not like they’re looking to make specific profits or anything like that.”
“Sometimes you’ll come across an item that’s a really good deal. So if it’s a really good deal, it’s gonna be gone soon. That’s just the way it is. I mean if a deal is really good, it’s not gonna last long. So if you’re talking to someone on the phone about their item, just assume that if you don’t set up a time right now to go and buy it from them and take it off their hands, someone else within a few minutes is gonna go and do it instead. So keep that in mind when you’re out there looking for things to buy. Don’t be a cheapskate where you’re constantly trying to haggle on every little thing – especially if it’s already a killer deal."
What To Do Next
LOVE FLIPPING AND WANT TO LEARN MORE MONEY-MAKING AND MARKETING SECRETS? READY TO EARN 1K ON THE SIDE? HERE ARE SOME NEXT STEPS...
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