If you live close to a major city, you can take advantage of Craigslist, Nextdoor, and other platforms' free sections to find valuable items people are giving away, which can then be resold for extra income. I've been using these sections to meet my household needs for some time and started reselling items in January, making a total profit of $750 in two months, with about $200 worth of inventory still in hand. My best find was a few excercise bikes that a gym gave away for free.
The issue with the bikes was that they were obviosuly heavily used. I bought new grips and pedals for them and it was amazing what replacing just those two items did to the appearance of the bikes.
They were worth about $800 total, but I sold them for $450 which was my 1st offer I received. I'm sure I could have waited longer and I could have got more. But I just wanted the money since I had never flipped an excercise bike before.
I mainly use Craigslist, and I've learned some tips that may be helpful to you (though they may not apply to every situation or city):
Be prepared to sift through lots of junk, including countless pallets.
Most people giving away items are generous and will gladly answer questions about dimensions and condition, but some may not want their items resold. Respect their wishes and avoid items intended for people in need or specific groups.
Valuable items are often claimed within 30 minutes of the ad being posted, so check listings frequently.
Develop skills in researching item values quickly on Google, eBay, and Craigslist. If unsure about an item's value, express interest first and then research.
Be polite, provide a phone number, and specify when you can pick up the item. Avoid asking, "Is this available?" as it can be off-putting.
Most people won't hold items, so be prepared to pick them up immediately. Being the first to inquire may earn you a spot, but it's rare.
If an ad is still up after a day or two, send another polite email expressing interest.
If you're confident in reselling an item, consider offering a small amount of cash. Be cautious, though, as this could backfire.
Having a large vehicle and a friend to help with heavy items is advantageous.
Curb alerts are great if you can get to them quickly.
Expand your search radius on Craigslist and be prepared to drive for valuable items.
Plan for storage, as you may have limited space for large items.
Offer free delivery when possible and price competitively.
Consider the potential conversations with buyers about the item's condition before picking it up.
Look out for seasonal offers when people are upgrading and giving away their old items.
Non-working items can be risky but profitable if you can repair them. Diagnosing issues from the ad's description is crucial.
Be aware of items that may appear valuable but aren't, like old TVs.
Search for free items in their specific categories on Craigslist, as not everyone knows about the free section.
Check non-free sections with low upper price limits for undervalued items.
These are the main tips I've learned so far, and I'll add more if I think of anything else.
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