So I know with the economy being the way it is people are looking for so many ways to bring in some extra cash, but they keep getting scammed. Trust me, I have been scammed even by my own friend. It’s crazy, trust me, if your own friend will take your money.
Anyway, I don’t have a super secret or anything like that to make money. I pretty much use arbitrage. In small words I buy low and sell high. You are probably thinking, Oh that’s too easy. And it is; that’s why I do it. I consider myself a pro arbitrageur.
So how do I do it? What do I buy low and then sell high?
Every morning as I wake up I check Craigslist.org. I find out if there are iPhones for sale. If there are, which at least 3 to 4 times a week there are, I buy them.
I buy one every chance I get. They normally post them between $100-450, depending on which one it is. I already know how much I can buy each one for to be able to make a profit. You have to know how much they are going for to be able to flip them! I made a mistake of trying to buy blackberry’s and android’s but it didn’t work because the deman for these other phones just aren’t very high.
Where do you sell them?
Ebay. Yep, it’s great and it’s cash I get paid instantly, the moment it sells; and I always have money to buy another phone in case another one pops up on Craigslist.org.
I know that this might not make you much money but it’s a nice-size part-time income. I only spend about 2 hours during the day watching for deals on Craigslist. When I spot one I contact him immediately and meet up with the seller. I already have a template made up so pretty much all I do is take a few extra pictures of the item and post it on eBay.
It really is that easy. You can do this in your town, I know because I’ve looked in my surrounding towns and they even sell them for cheaper because they have more competition.
Why don’t they post them on eBay?
I’ve asked myself the same thing. I assume they don’t have a computer, need cash quickly, or just don’t know about it. You should take advantage of it, while not so many people know.
How much can you make?
It all depends of how many iPhones you can buy during the week. And how much money you have to invest in your first phone to buy. I started out by selling my old iPhone, then I moved up to a 3G, and of course I upgraded to a 3GS which I don’t even care much about now. I guess because I can get anyone I want now. The 3GS make me the most money because obviously I buy them for half of what I sell them so it’s 100% profit. On the 3G’s I normally make a 50% and on the 1st generations about 40-50%. So they are all pretty good margins.
I think that’s pretty much it, fellas. If you have any questions for me just email me or please comment below I normally can answer faster if you tweet me @wilsonusmanjr. Good luck arbitrating!
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