- Not everyone has the means or expertise to flip real estate for profit.
- But there are several items that are easier to obtain and easier to flip than a house – including furniture, wine, and even baby strollers.
- Visit Business Insider’s homepage for more stories.
Flipping is nothing new. There’s a slew of TV shows that follow expert flippers around the nation as they buy and sell houses and search for products they can buy on the cheap.
While flipping properties is arguably the most reliably profitable way to buy and sell for profit, the complexity of real-estate sales and the expertise needed to oversee the renovations and improvements that boost a home’s value edge most of us out of the house-flipping game.
That said, there are all sorts of products just about anyone can buy and sell for a profit with minimal expertise needed.
In fact, usually the hardest part of flipping for a profit is simply figuring out where to sell. For that, eBay, Craigslist, and local Facebook groups are the best first step. With some experience, you will find the best places to snap up goods on the cheap, and you’ll find buyers who will pay a good deal more than you did.
Here are seven things anyone can flip for a profit.
Records and record players, because vinyl is back
The record was almost dead just a few short years ago, with digital music sounding the death knell of all other types of recording.
But to the ears of many purists, records simply sound better, and there’s an undeniable cool factor surrounding a retro record and turntable.
That said, many people unload boxes filled with records at thrift shops, records that can be bought by the lot or for mere pennies in many cases. If you take the time to research which records sell well online before you start trawling through the stacks at your local thrift shop, you will know when have found your vinyl gold mine.
Wooden furniture, because anyone can make basic repairs
If a piece of furniture was well-made the first time, it will remain well-made even after its looks fade over the years. Restoring wooden furniture often takes nothing more than a bit of sand paper and some wood stain, or in some cases sanding and a fresh coat of paint.
Look for wooden furniture at estate sales or yard sales, or at thrift stores or consignment shops. Also look out for “going out of business” signs, because in the days before a shop’s doors close for good, they will likely offer furniture for a song.
Strollers, because kids grow out of them before they break down
I have two kids who are a bit more than four years apart, and we’ve been through all sorts of strollers. Singles, doubles, umbrella strollers, joggers, and so on. Of the six or so strollers we used heavily, only one broke down before the or kids outgrew it. Some we gifted on, some we keep just because who knows, and a few we have sold for a decent profit.
If you do some research and find the most popular new strollers, you can then search out used units for sale on the cheap. Posting them at a markup can make you handy cash, especially when you sell locally only, avoiding shipping costs.
Rare and vintage clothing, because scarcity creates demand
Some garments will always be in style, like a great pair of jeans or a little black dress. Other clothing is in demand for just the opposite reason, because it hasn’t been produced in years. Whether you find a gentleman’s tweed blazer from the 1940s or a lady’s evening gown from the 1960s, if it’s in great shape, it might just be worth an investment.
And ephemera garments are very often a great buy with excellent profit margins. Look for T-shirts that were produced during a specific band tour or around the release of a popular film and snap those up – die-hard fans will pay top dollar for clothing that was produced in limited supply.
Websites, because the web isn’t getting any smaller
There are myriad companies that make all of their profits off selling domain names, but you can get in on the action as an individual, too.
The secret is to think of website names that will soon become popular but which aren’t already in use. Coming up with your own domain names means securing control over them for as little as $US4.99, whereas buying existing domains means you are the flippee, not the flipper.
Watch for memes that become popular, celebrities or politicians that explode onto the scene, or other sudden cultural phenomena, and try to secure some domain names that relate to the latest talking points.
Wine, if you’re ready to play the long game
About an hour of research can get you in the know about which wines reliably appreciate in value and which recent vintages have been particularly good for said varietals.
Then, provided you have a space in your home that’s consistently cool, dark, and dry, you can buy as many bottles as meets your budget today, then simply wait a few years before reselling to a buyer or broker.
Making money selling wine requires more patience than one typically associates with flipping, but it’s also a more reliable profit if you have the time to wait and the money to spend up front.
Electric scooters, dirt bikes, and other gear that’s collecting dust
Countless American garages are filled with dirt bikes, scooters, and even ATVs that are just not being used anymore. Maybe someone gave up on a hobby or maybe the kids moved away; whatever the reason, one person’s clutter is another person’s ticket to weekend adventure, and you can be the middleman that makes a profit.
Instead of looking around for semi-mothballed jet skis or mountain bikes, consider posting in local social media platforms that you are actively looking to buy equipment like this, and then once you have some good items cleaned up and at the ready in your own garage, post ads touting them.
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