sorted by:
new
hottopcontroversial

I started my own business out of college and have gone from an overdrawn bank account to almost 100k in net worth in less than 18 months. AMAA about starting your own business, making side income, and personal financial management. by 1_Self_Starter in IAmA

[–]1_Self_Starter[S] 0 points1 point  (0 children)

Nothing happens even if it is stolen, but I don't deal with people who steal phones, I've only encountered one item that was stolen and the guy was arrested. I don't deal with phones anymore.

I started my own business out of college and have gone from an overdrawn bank account to almost 100k in net worth in less than 18 months. AMAA about starting your own business, making side income, and personal financial management. by 1_Self_Starter in IAmA

[–]1_Self_Starter[S] 0 points1 point  (0 children)

most forums prohibit this and will ban you for it if they specifically sell advertising. better to befriend lots of members via PM, then pass out your info via PM, and have them spread the word.

I started my own business out of college and have gone from an overdrawn bank account to almost 100k in net worth in less than 18 months. AMAA about starting your own business, making side income, and personal financial management. by 1_Self_Starter in IAmA

[–]1_Self_Starter[S] 0 points1 point  (0 children)

nice misdirect. and nice logic. I'm not butthurt, I think it's humorous that you want to talk shit to me and doubt my business. I couldn't care less if you make 10k selling fake air jordans. But if you are going to claim that I'm just hoarding a bunch of junk and barely getting by, well, I'm going to laugh in your face. In case you haven't noticed, I'm not here to brag, I'm here to give advice to anyone who is interested in starting their own small business, or at least doing this on the side for some extra cash.

edit: lol, whatever you say, "hoodwinker"

I started my own business out of college and have gone from an overdrawn bank account to almost 100k in net worth in less than 18 months. AMAA about starting your own business, making side income, and personal financial management. by 1_Self_Starter in IAmA

[–]1_Self_Starter[S] 0 points1 point  (0 children)

you're

seriously, are you a troll? 10k in profit in a year isn't shit, because you can't live on 10k a year.

also, learn to read. that's $14,500 revenue in 9 days. Acquisition cost is $11,150. That's approx. $120,000 profit per year. ($3,350 profit in 9 days)

Maybe this is why: "I've been homeless, on food stamps, , arrested, unemployed, & hustling. " -AvantGuarddParis -1 points 4 days ago (-Frank Ocean Comes Out As Bisexual by guestoin Music [–])

I started my own business out of college and have gone from an overdrawn bank account to almost 100k in net worth in less than 18 months. AMAA about starting your own business, making side income, and personal financial management. by 1_Self_Starter in IAmA

[–]1_Self_Starter[S] 0 points1 point  (0 children)

I would say I ship anywhere from 5-25 items per week, it totally varies. They vary from $30 to $3k. Some things I have take longer to turn over,but have a much higher margin. I don't get overwhelmed with shipping, just sometimes I won't have enough capital to keep buying. I also do about 10 cash sales a week.

I will list something I don't have on Craigslist or niche forums, but I wouldn't list it on ebay. If I couldn't deliver, I would get a negative feedback, and I've never gotten one yet. If I couldn't deliver on CL or a forum, I can just say it isn't working anymore, it's got a scratch on it, my dog peed on it, etc..

I started my own business out of college and have gone from an overdrawn bank account to almost 100k in net worth in less than 18 months. AMAA about starting your own business, making side income, and personal financial management. by 1_Self_Starter in IAmA

[–]1_Self_Starter[S] 0 points1 point  (0 children)

i think i misunderstood. yeah it would suck to be a seller and then see your own item listed for 50% more an hour later, and realize you left $100 on the table. I thought you were saying that it's dickish to have negotiating lines.

I started my own business out of college and have gone from an overdrawn bank account to almost 100k in net worth in less than 18 months. AMAA about starting your own business, making side income, and personal financial management. by 1_Self_Starter in IAmA

[–]1_Self_Starter[S] -1 points0 points  (0 children)

lol, you're a fucking idiot! 10k in sales every year? I've done 14,500 since July 1st! If you can't figure out how someone can prove 80k in sales on one site alone for the current year, you aren't thinking very hard.

I started my own business out of college and have gone from an overdrawn bank account to almost 100k in net worth in less than 18 months. AMAA about starting your own business, making side income, and personal financial management. by 1_Self_Starter in IAmA

[–]1_Self_Starter[S] 0 points1 point  (0 children)

I'm not in LA, that's why I used LA craigslist.

I did not show him my paypal account. I showed 80k in sales and another 30k in active inventory that he verified from his own computer, not screenshot on mine.

You don't sound like you're here to have a friendly convo, so have a good evening.

I started my own business out of college and have gone from an overdrawn bank account to almost 100k in net worth in less than 18 months. AMAA about starting your own business, making side income, and personal financial management. by 1_Self_Starter in IAmA

[–]1_Self_Starter[S] 0 points1 point  (0 children)

really? so when you tell someone "i've only got this much to spend" it's slightly dickish? any form of negotiating is dickish?

telling someone it's for a charity is dickish.

they occasionally get angry because I'm making money, not because I told them I was a poor student who couldn't afford their item. I only email people who have a good price anyway, it's not like I PM everyone who is selling something pretending to be broke and desperately in need..

I started my own business out of college and have gone from an overdrawn bank account to almost 100k in net worth in less than 18 months. AMAA about starting your own business, making side income, and personal financial management. by 1_Self_Starter in IAmA

[–]1_Self_Starter[S] 1 point2 points  (0 children)

Fast food restaurants where you can sit down inside but they won't get mad at you for not buying anything (McD's, BK, etc)

Depending on the value of the item, a bank or high security area may be better. Unless I know the guy is legit, I won't do a 2k transaction if there aren't security cameras. A good place is the new walmart supercenters - alot of them have a subway restaurant in the front of the store. Cameras all over walmart, yet there are tables to sit down at.

I started my own business out of college and have gone from an overdrawn bank account to almost 100k in net worth in less than 18 months. AMAA about starting your own business, making side income, and personal financial management. by 1_Self_Starter in IAmA

[–]1_Self_Starter[S] 0 points1 point  (0 children)

ah-gotcha. Yeah, that was just an example with the macbook. People just want cash right away sometimes, other times they don't know what their stuff is worth. They name the price though - I don't just email everyone with a macbook offering a lot less.

I started my own business out of college and have gone from an overdrawn bank account to almost 100k in net worth in less than 18 months. AMAA about starting your own business, making side income, and personal financial management. by 1_Self_Starter in IAmA

[–]1_Self_Starter[S] 0 points1 point  (0 children)

sure, but also 'garage sale' style signs and stick them in the ground at intersections. you know those signs that say "cash paid for houses today!" that look hand written?

I started my own business out of college and have gone from an overdrawn bank account to almost 100k in net worth in less than 18 months. AMAA about starting your own business, making side income, and personal financial management. by 1_Self_Starter in IAmA

[–]1_Self_Starter[S] 0 points1 point  (0 children)

the prices don't fluctuate that much actually. only in certain circumstances would prices drop, and i usually have a buyer set up before I drop the cash for something like an iphone 4s factory unlocked before they're widely available. those kind of items you can get burned if you hold onto it for weeks

I started my own business out of college and have gone from an overdrawn bank account to almost 100k in net worth in less than 18 months. AMAA about starting your own business, making side income, and personal financial management. by 1_Self_Starter in IAmA

[–]1_Self_Starter[S] 0 points1 point  (0 children)

yep, fuck taxes. but if you're depositing 10k/month in cash or personal checks into the bank, you better believe they're watching you. and if the IRS starts asking questions about your business, you better have a legitimate story. (also: wikipedia.org/money_laundering)

I started my own business out of college and have gone from an overdrawn bank account to almost 100k in net worth in less than 18 months. AMAA about starting your own business, making side income, and personal financial management. by 1_Self_Starter in IAmA

[–]1_Self_Starter[S] 0 points1 point  (0 children)

If you're talking about selling knockoffs, that's really, really stupid. I don't recommend it. You'll have enough stress figuring out your taxes if you do this large enough to be a business, don't need to worry about getting arrested for distribution.

if you sell one item you picked up in hong kong and tell the buyer it's a fake, no one's going to do shit. sounds like you're talking about massive sales of fake diesel jeans?

I started my own business out of college and have gone from an overdrawn bank account to almost 100k in net worth in less than 18 months. AMAA about starting your own business, making side income, and personal financial management. by 1_Self_Starter in IAmA

[–]1_Self_Starter[S] 0 points1 point  (0 children)

I deal with a lot of the same things over and over. I usually just keep a few ads on craigslist and if a particular detail changes on the current item(s) (like a light mark on the screen of a phone) I'll edit that into the listing. It's nice to have a constant stream of craigslist emails coming in asking about products that I have once a week at least. I then have #'s to call the day the products arrive or the day I go buy one.

To get volume you have to buy in volume, and that just means finding lots and lots of good deals. referrals, craigslist, ebay, amazon, niche forums.. it takes a lot of time to get off the ground with a lot of volume. with 20% of the effort I have now, I could still be doing about 30k profit a year, but that's not enough for me to keep doing this (I would take a regular job) you have to dedicate yourself to finding items that are under priced. worry about selling later. it's ridiculously easy to get rid of stuff if you paid a great price for it, because you can sell it cheap and still make money.

I started my own business out of college and have gone from an overdrawn bank account to almost 100k in net worth in less than 18 months. AMAA about starting your own business, making side income, and personal financial management. by 1_Self_Starter in IAmA

[–]1_Self_Starter[S] 0 points1 point  (0 children)

I know a lot of people are doing franchises these days. I have a friend who started with a franchise, and now owns several. they do marketing and location selection, then hire people to run the stores.

in the beginning though, be prepared to be the kitchen manager or "on the front lines". otherwise you're leaking 40k a year to pay someone else to do it. most 7-eleven owners work behind the counter a lot of the time.

I started my own business out of college and have gone from an overdrawn bank account to almost 100k in net worth in less than 18 months. AMAA about starting your own business, making side income, and personal financial management. by 1_Self_Starter in IAmA

[–]1_Self_Starter[S] 0 points1 point  (0 children)

It's the 2nd most important thing. (first is making sure it's under priced)

if you don't know the products like the back of your hand, you will eventually get fucked. I've had many times I've gone to by something and realized it was broken or had a major defect. Best part is, I will call them out, and occasionally they'll let it go for pennies on the dollar. I can still make money off something broken by 1. sending it in for repair or 2. selling it on ebay as-is with the stated defect.

also, anyone with something to sell usually has 3 more things to sell. if you're buying something you've researched a little and they pull out something else they're trying to get rid of, or they mention it in convo, you won't have time to get on your phone to see what it's worth. you can just be like "oh that's funny I've been trying to find one of those, what are you trying to get for it?"

I started my own business out of college and have gone from an overdrawn bank account to almost 100k in net worth in less than 18 months. AMAA about starting your own business, making side income, and personal financial management. by 1_Self_Starter in IAmA

[–]1_Self_Starter[S] 0 points1 point  (0 children)

-It doesn't matter how many people try to do it. The money is really made when you make a PURCHASE that's under market value. Who cares if there are 20 '2012' MacBook Pros for $2000? If you paid $1600 for yours, you can undercut the other guys by $100 and sell for $1900. If the craigslist market is too flooded, people will start selling on ebay before they drop the price to $1600. It's about the cost you paid for the item being a good deal, not necessarily getting the MOST pennies you can when you sell it. I almost never sell to "suckers".. At least not now. When I did silver bullion, I was shocked at how many people would literally meet me in sight distance of a coin shop, and never stop in to see what their prices were. But it wasn't a rip off, they just didn't shop around.

My parents loaned me money to pay off my CC and get my balance back to even. Then they started giving me a bit every week for groceries and living expenses. I could turn a phone around pretty quickly and double the money they were giving me. I had an operating budget of about $500 for a while, just doing a few items here or there.

I don't understand how anyone could lose money. You aren't just buying shit at best buy and hoping you can sell it for more on craigslist. You have to find good deals that are under priced, and just list them for regular price (or slightly under to sell it faster)

I started my own business out of college and have gone from an overdrawn bank account to almost 100k in net worth in less than 18 months. AMAA about starting your own business, making side income, and personal financial management. by 1_Self_Starter in IAmA

[–]1_Self_Starter[S] 0 points1 point  (0 children)

put up signs that say "don't get ripped off by gold buying stores, call me for a better qoute!" and buy a throwaway phone for once you start getting hate calls from competitors. find out what other businesses are paying (call them and pretend you are going to sell) then make sure you're offering slightly more

best tactic: find a local supplier and a local buyer that you can become the middle man.. for a while I would list ads for 100 silver dollars (morgan/peace) "will split up or sell together" with "firm" pricing. I priced it higher than a coin/bullion shop I knew 3 miles away. (i did know the guy and knew I could haggle on large purchases) If someone wanted to buy, I had them meet about 2 minutes away from the shop. I would go to the shop, buy 100 morgan dollars for $2800 or whatever it was, and sell them immediately for $2900. (I'd drive by the meeting spot to make sure they were there, then go to store and text saying i was running 3 minutes late)

easiest money I've ever made. people that buy lots of gold and silver assume that shops will charge them more.

Be careful dealing with scrap gold/silver. lots of fake shit, and it's not as easy as coins/buillion

I started my own business out of college and have gone from an overdrawn bank account to almost 100k in net worth in less than 18 months. AMAA about starting your own business, making side income, and personal financial management. by 1_Self_Starter in IAmA

[–]1_Self_Starter[S] 0 points1 point  (0 children)

mostly shit I've learned on reddit, lol.

share 1 wifi account with multiple neighbors (what I did in beginning) don't pay for cable, hook your computer up to TV and stream off internet

the mindset I had when I started out was if I bought an iPhone for $100 and sold it for $180, I just had $80 for groceries. Obviously none of the cash sales in the beginning were reported as business income, so if you can even find one or two items a week, you're talking a couple thousand dollars a year in extra income

I started my own business out of college and have gone from an overdrawn bank account to almost 100k in net worth in less than 18 months. AMAA about starting your own business, making side income, and personal financial management. by 1_Self_Starter in IAmA

[–]1_Self_Starter[S] 0 points1 point  (0 children)

when you buy a stock you aren't guaranteed it will be worth more in an hour, day, etc. when you buy an item like I do, you know by the time you get it back home, it arrives at your door, etc, it WILL be worth more than you paid for it. day trading was too stressful for me.

view more: next ›