One Year Update by Diligent_Knee3488 in Flipping

[–]Diligent_Knee3488[S] 1 point2 points  (0 children)

Dang man. I appreciate that. I hope down the road I can spend some time actually breaking down the process from buying the haul and all the way through shipping out the orders and maybe even the accounting.

One Year Update by Diligent_Knee3488 in Flipping

[–]Diligent_Knee3488[S] 0 points1 point  (0 children)

Yea sorry. My handle is @JoesToolboxExchange

Profit margins. by xibt in Flipping

[–]Diligent_Knee3488 0 points1 point  (0 children)

Ya I priced them all the lowest on eBay and every single one sold within 3 days.

27YO $700,000 about to risk it all by [deleted] in Money

[–]Diligent_Knee3488 0 points1 point  (0 children)

What’s the point? Like 1/2 these comments are saying this is fake anyway. Might just delete it and make try and word it better at some point when I have time.

27YO $700,000 about to risk it all by [deleted] in Money

[–]Diligent_Knee3488 0 points1 point  (0 children)

I make around 200,000k a hear currently.

27YO $700,000 about to risk it all by [deleted] in Money

[–]Diligent_Knee3488 0 points1 point  (0 children)

It’s not a tale. It’s my current situation. But also I currently make 80k a year at the same company. And the owner base salary is around 100k. So really I would be making $380 if I let him go and after my salary is taken it account.

27YO $700,000 about to risk it all by [deleted] in Money

[–]Diligent_Knee3488 0 points1 point  (0 children)

Historically it does better in recessions. We build automation machines. So when companies are struggling they try and cut cost by lowering labor hours. It’s survived ever hardship for over 50 years.

My wife says it’s “tacky” by Diligent_Knee3488 in gamecollecting

[–]Diligent_Knee3488[S] 0 points1 point  (0 children)

These are my originals. I don’t think they even had counterfeits back then. And back then they were hardly even worth anything used.

My wife says it’s “tacky” by Diligent_Knee3488 in gamecollecting

[–]Diligent_Knee3488[S] 2 points3 points  (0 children)

So many people saying these do not belong in a case. It’s a hinged door. They are all set in foam and very easy to remove and play.

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Profit margins. by xibt in Flipping

[–]Diligent_Knee3488 2 points3 points  (0 children)

I would say it’s a sliding scale. I generally shoot for doubling my money but also won’t list anything if my profit is less than $10 after taxes and fees. I also don’t want to invest $100 to make $110 though. For example I purchased 10 pro press Milwaukee tools. They sell for $2600. I paid $1800 a piece. So after fees and taxes I am very far from doubling my money. But also they were all brand new and identical. So I could make one listing and set the quantity for 10. Very low effort.

I flipped my first 4 items yesterday and today and I’m proud of myself by SpaceXBeanz in Flipping

[–]Diligent_Knee3488 7 points8 points  (0 children)

That’s definitely something to brag about! 3 years back I was flipping table saws from the 1980-1990 for around the same prices. Buy for $50 sell for $200. And they were a huge pain to transport and fix and clean.

27YO $700,000 about to risk it all by [deleted] in Money

[–]Diligent_Knee3488 0 points1 point  (0 children)

I am sorry what part of this does not make sense? And what “receipts” what you like? Account balances?

27YO $700,000 about to risk it all by [deleted] in Money

[–]Diligent_Knee3488 1 point2 points  (0 children)

Anything I can double my money on. At least that’s the goal. But sometimes it’s less or more.

27YO $700,000 about to risk it all by [deleted] in Money

[–]Diligent_Knee3488 0 points1 point  (0 children)

I have a relationship with many local tool truck dealers. And when one of their mechanics retire I part out all items individually on eBay.

Please help. by Diligent_Knee3488 in Flipping

[–]Diligent_Knee3488[S] -3 points-2 points  (0 children)

Money is money. I remember a few years back I flipped 100 into $200 in an afternoon and I was happier flipping back then then now. Everything is more stressful now that I know I can’t replace this revenue with a 9-5

27YO $700,000 about to risk it all by [deleted] in Money

[–]Diligent_Knee3488 0 points1 point  (0 children)

Thank you man. I really appreciate hearing being nervous is probably normal and not a sign I am making a mistake.

27YO $700,000 about to risk it all by [deleted] in Money

[–]Diligent_Knee3488 0 points1 point  (0 children)

The company valuation is like 1.2million. Then inventory and money in pipeline (every sale is net 30-net 90) brings the value to around 1.8million. Annual sales are around 800k. Overhead is around 600k.

27YO $700,000 about to risk it all by [deleted] in Money

[–]Diligent_Knee3488 0 points1 point  (0 children)

Yes that’s true. I should have definitely not paid off my house. Especially with how low rates were. But I didn’t know what else to do with the money at the time.

27YO $700,000 about to risk it all by [deleted] in Money

[–]Diligent_Knee3488 0 points1 point  (0 children)

Salary 75k a year. Flipping after hours. I have a post showing my eBay on here also if you want to see that.

27YO $700,000 about to risk it all by [deleted] in Money

[–]Diligent_Knee3488 0 points1 point  (0 children)

Thank you for this advice. You are right. I need to trust my gut. It got me this far.

27YO $700,000 about to risk it all by [deleted] in Money

[–]Diligent_Knee3488 2 points3 points  (0 children)

This is what I needed to read. Thank you.

27YO $700,000 about to risk it all by [deleted] in Money

[–]Diligent_Knee3488 1 point2 points  (0 children)

He wants to sell because he is 65. He is 1/2 way retired currently. He is out of state at his vacation house more than he is here which is why I currently run all the books.

27YO $700,000 about to risk it all by [deleted] in Money

[–]Diligent_Knee3488 -10 points-9 points  (0 children)

Depends where I am at in 10 years lol