D
DeletedUser397
Guest
Ok, so the thread title got your attention, but rest assured, it's not an exaggeration at all. It's not a "get rich" scheme either, just something really simple you can do for some quick cash. I've done it many times myself.
Basically, in a recession you have stores going out of business. This week, the Borders bookstore in my town began liquidating their inventory. I scooped up a bunch of electronics for about $700, which I've since listed on eBay.
Here's a quick rundown of numbers for just 1 of the products I bought, to give you an idea of how profitable this can be:
Sony eReader Per Item, eBay Selling Cost_
$77.6 item itself (including tax)
$6 for Shipping cost
$8.85 Final Value fee
$4.85 Paypal transaction fee
--------------------- cost = $97.3 per item
Each item will sell for $157
Per Item Profit = $157 - $97.3 = $59.7
Total of 14 Items = 8 x $59.7 = $477.6
Auction Listing Fee = $3.10
Total Profit = $474.5
==========================
All in all, I bought about $700 worth of items, and after all fees and costs, my total profits will be approximately $560, which puts my ROI at about 80%.
The time it took to shop was 1hr (did it on my lunch break Friday), listing all the items took 1hr (also listed some on Amazon), I'll take probably another 30min to communicate with buyers during the listing activity, and I expect shipping for all to take about another 2.5hrs… which comes to a total of 5hrs. Overall, I feel its easy money, considering at my FT day job I make $30/hr, and this here is about $112/hr.
Being in a recession may suck for some people, but it's also a great opportunity. I've done the same thing buying up large quantities (or whatever I can get) from other bankrupt stores such as Linen n' Things, Circuit City, and BlockBuster when they were on the way out. So, just look around your local town/city, I'd bet there are stores going out of business near where you live as well. It's not something you can do all the time, but when it happens it's a great chance for some quick cash.
Unfortunately, the only thing I regret is not knowing about the sale sooner. If I'd known sooner, I would have bought up a lot more stuff.
Basically, in a recession you have stores going out of business. This week, the Borders bookstore in my town began liquidating their inventory. I scooped up a bunch of electronics for about $700, which I've since listed on eBay.
Here's a quick rundown of numbers for just 1 of the products I bought, to give you an idea of how profitable this can be:
Sony eReader Per Item, eBay Selling Cost_
$77.6 item itself (including tax)
$6 for Shipping cost
$8.85 Final Value fee
$4.85 Paypal transaction fee
--------------------- cost = $97.3 per item
Each item will sell for $157
Per Item Profit = $157 - $97.3 = $59.7
Total of 14 Items = 8 x $59.7 = $477.6
Auction Listing Fee = $3.10
Total Profit = $474.5
==========================
All in all, I bought about $700 worth of items, and after all fees and costs, my total profits will be approximately $560, which puts my ROI at about 80%.
The time it took to shop was 1hr (did it on my lunch break Friday), listing all the items took 1hr (also listed some on Amazon), I'll take probably another 30min to communicate with buyers during the listing activity, and I expect shipping for all to take about another 2.5hrs… which comes to a total of 5hrs. Overall, I feel its easy money, considering at my FT day job I make $30/hr, and this here is about $112/hr.
Being in a recession may suck for some people, but it's also a great opportunity. I've done the same thing buying up large quantities (or whatever I can get) from other bankrupt stores such as Linen n' Things, Circuit City, and BlockBuster when they were on the way out. So, just look around your local town/city, I'd bet there are stores going out of business near where you live as well. It's not something you can do all the time, but when it happens it's a great chance for some quick cash.
Unfortunately, the only thing I regret is not knowing about the sale sooner. If I'd known sooner, I would have bought up a lot more stuff.
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