If you visit our website here, you will see that we have lots of creative and unique ideas for your side hustle. But one of the most old school (and simple) ideas for your next side hustle is flipping your items into cash.
When I say flipping, I don’t mean to flip on the skateboard or to do a back flip and people pay you for it.
Flipping in the most simplest form means to sell your old and unused items to someone for money. Or buy products for a cheap price and then sell it for a higher price.
What does flipping mean?
You have probably heard the phrase, “Another man’s trash is another man’s treasure.”
What this means is that something you don’t use anymore can be sold to someone else.
For example, let’s say you bought the new iPhone last year. Well another iPhone is coming out this year. So you sell the iPhone from last year for $100, $200, or even $300. That iPhone might not been good to you anymore (because you are getting the new one) but to someone else they will still pay a good price to get it for themselves.
But flipping doesn’t only involve selling your old or unused items.
You can buy items online, at a garage sales, or wherever for a cheaper price. Then you can sell that item for more to someone else that needs it.
How To Start Flipping Your Items For Cash?
Step 1 – Sell Your Old Items
If you don’t have cash right now to start flipping, the first thing you need to do is get some cash.
Look around your room. Is there anything there that you don’t use anymore or you don’t need it? If so, these are the items you need to sell in order to get some cash to get started.
For example, last year I wanted to get new furniture for my room. I already had good wooden furniture that was a little outdated for me.
Instead of throwing away my old furniture, I went on Facebook MarketPlace to sell it.
Everyone said that it was too old and no one will buy it. But I know that “Another man’s trash is another man’s treasure.”
It took a few days but eventually someone bought it and I had $700 more in my pocket.
So look around your room and find items you don’t need or use anymore and sell them.
Step 2 – Buy Items To Flip
Now this part is going to require you to get off the couch.
The best place to find items to flip are at garage sales.
Look around your neighborhood or city for anyone having garage sales and go to them.
What type of item to look for when flipping?
The hardest thing is to find an item that will sell or flip. Not every single item will sell or flip.
The best rule is to find items that people need to use no matter what is going on in the world. For example, furniture (no matter how old or new) is always needed. If you buy a chair for $10 then you will be able to sell it for $15 in a matter of days.
We have created a list for you to figure out exacly what item will sell and what will not.
Sometimes if you look online on Craigslist or Facebook MarketPlace, people are giving away items for free. This way, you did not pay for anything and all the money that you make from selling it is your profit.
Step 3 – Flip (Or sell) Your Items
We live in a technology world. You don’t need to go door to door to sell your items anymore.
Once you find the item or items you want to buy (in order to sell), it’s time to sell them.
The best place for you to sell is on Facebook MarketPlace, Craigslist, and eBay.
I will give you an example. My friend found a PS4 in a garage sale for $50. The guy that was selling it just wanted to get rid of it and need cash. My friend bought that PS4 and sold it later that night for $150 on Facebook MarketPlace. He got to put $100 in his pocket!
A website like Facebook MarketPlace, Craigslist, and eBay are used to sell old used items. People are selling a vast range of stuff like dumbbells to furniture to technology items to things people grow in the garden. You are bound to find someone that will buy your item.
Taking Flipping To The Next Step
Now if you have a set of skills like fixing something up, you could actually make a lot more flipping.
Here is another example. I used to have a neighbor that was a cop. He wanted to start his own side hustle to make some more money. As a cop, he is limited to what type of business he can start. But he was really good at fixing things.
So he started buying old arcade game machines. Like PAC-MAN, Asteroids, Pong, and etc.
He would get these machines for very very very cheap as most of them were not working completely. He would fix them up, make them work and look brand new. After that he was selling them for hundreds to thousands of dollars each. And in a matter of a few months, he had a side hustle business that was paying him thousands and thousands of dollars for a little amount of work each day.
Step 4 – Repeat
If you do this over and over again, you will get good at it and you will start finding and buying items that you make hundreds to thousands of dollars just like my neighbor did.
This is one of the most simplest side hustle ideas. People have been doing flipping for many many year (since ancient times).