Rob Stephenson calls himself theFlea Market Flipper.
Lately, an average month might fetch $3,500, and his best month topped $10,000 in profit.
Hes also a regular at the local thrift stores, which supply a steady stream of inventory.
Probably not as good as youd like.
It always seems like an uphill battle to build (and keep) a decent amount in savings.
But what if your car breaks down, or you have a sudden medical bill?
Ask one of these companies to help…
Want to give it a shot for yourself?
Heres how to get started with flea market flipping.
To source his inventory, Stephenson has a few favorite spots in addition to the local weekend flea market.
Among them are classifieds sites and apps likeCraigslist,OfferUpandLet Go.
So what does he look for?
I look for odd items,he says.I look for weird stuff.
Stephenson once bought a prosthetic leg for $30.
He sold it on eBay the next day for $1,000.
One mans trash is another mans treasure, right?
Thats the basis of this business model: finding unique or undervalued products and reselling them for a profit.
On OfferUp, he found a high-end exercise bike used in physical therapy offices.
The seller agreed, and Stephenson sold it for $2,800.
With odd items, Stephenson says, there are more inefficiencies and profit opportunities.
I would just rather keep the item until it sells for what I am looking for, he explains.
I utilize the power of YouTube to figure out how to fix some things.
Honestly, the most important tool I use in buying and selling is probably my smartphone,Stephenson says.
You only get paid when your item sells.
With eBay, you’re able to reach a nationwide or worldwide audience of buyers, he explains.
He avoids auction listings in favor of Buy it Now listings.
If the item hasnt sold after 30 days, he lowers the price and repeats the process.
Will You Try Flipping?
If youre not out there finding deals, youre not making money, he says.
Your Turn: Will you try flea market flipping?
Have you ever bought and sold an item from Craigslist or another marketplace?
Nick Loper helps people earn money outside of their day job.
Hes an author, online entrepreneur, and lifelong student in the game of business.
(Can you sense my millennial sarcasm there?)
You know which ones were talking about: rent, utilities, cell phone bill, insurance, groceries…
