There are several ways to make money online and flipping items online is one that is really underexplored in these parts of the world. One thing that those who are conversant with item flipping would normally say is that there’s no item that can’t be flipped. As long as there are websites that allow classifieds, then there would always be item flipping.
Flipping simply means buying an item for the sole purpose of selling it at a higher price. Items to be flipped are normally bought at a lower price and sold at a higher price but the technique to item flipping is that the items are already partly sold by the flipper, even before they are bought from the original seller.
There are people who flip items for a living and if you’d like to know how this works, then follow the brief steps below and if there’s anything you’re not clear on, then you can drop a comment in the comment section.
Source For Capital
Just like any other business, the flipping business requires some sort of capital, no matter how small. The amount of capital depends largely on the item you want to flip. This means that you need to carry out your market research to know which items move quickly and which items don’t move too well.
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Register An Online Account
Sites like ebay, jiji, craigslist, and so many other classifieds sites have thriving businesses of several flippers and item jugglers. If you want to make money via online item flipping, register on sites like any of these and you’ve successfully ticked the first step.
Find Items That Can Sell Fast
Next thing is to make research on fast-selling items and find them on the website. There’s almost nothing that sells fast that you can’t find on classifieds. From fashion items and sporting equipment to electronics and even automobiles. You’ll find them all on classifieds.
Set Up Similar Ads
Once you these items, set up a similar Ad but then you’ll need to give your own ad a reasonable hike in price. If for instance, a PS4 sells for N80k, you can put your own to N100k. There are other consoles selling for N100k; so your ad wouldn’t be an anomaly.
Buy Cheaper & Sell Pricier
As soon as someone enquires about your product and is ready to make payment, all you have to do is to purchase the original console at the best price and make it ready for its new owner – your prospect. This is the simple way item flipping works.
So, that’s it. You post an item you may not necessarily have at the moment but as soon as someone agrees to purchase, you buy for say 10,000 and sell for 15,000. That’s 5,000 gained smoothly and easily. By the time you flip 10 items on the same price, that’s 50,000 profit. Have you ever tried flipping? What’s been your experience so far?