Flipping

Let's talk about flipping
What do you flip?
Where do you flip?
Any tips releated to flipping?

I used to flip used phones that I bought from Craigslist on swappa,made around 1k$ per month,but now I'm looking for a new niche.

basketball shoes

I do guns on armslist, find people "giving" shit away and make 50 or 100 bucks

I cook crystal meth and sell it to minors.

I flip BMW car parts,

Buy a whole car for cheap, strip it of all useful/valuable parts then sell them to people on Facebook bmw enthusiast pages

Can turn a 300 dollar car into 2k

Cars

started with friends and family members giving away their old shitboxes. Instead of scrapping them I'd buy them for scrap value, fix them up a bit and then sell them

Yeah that's a profit of 1700 but how much time do you spend on each car

I do this in my spare time as extra cash.

About a weekend to strip the car and then about 2 hours to create an excel spreadsheet of the parts. Then I'll post the spreadsheet up on multiple fb pages and let people contact me. Or if I'm browsing the pages and I see people who are after some parts that I have ill send them a pm

Books

garage sales, library sales, estate sales. small scale but getting something for 25 cents and selling it for 3 bucks is still a profit

I flipped foreclosures and FSBOs up until the past few months. Markets drying up and the margins aren't worth the legwork these days. Bunch of rats doing it because it's 'easy money', giving people who actually put any quality into our work a bad name. I slapped 5 year guarantees on all of my houses, and nobody else within 80 miles of me does. It's all just paint over water damage and try to screw people. Mostly sold to commercial companies, and rented a few out myself. They loved me because I'd always have the paperwork and inspections in order, so my hold times were weeks, sometimes even days, while most of the cheap asses sit on shitty barely habitable dumps for 6+ months. I'd not even bother putting half my houses on MLS. I'd just call some companies and they'd send an agent out to inspect it on an agreed upon day. We'd have some simple open house with basic food, and most of the time one of them would write me a check that day. Might find some decent houses to flip soon, but I'm moving back to accounting for now.

Oh well. High volatility is something you need to be prepared for when flipping. Sometimes you just have to eat a couple losses in a row, and then deal with a dry spell on top of it. Plan your finances accordingly. This is why people get fucked up when flipping, or just sales in general. They get entrenched in a market, and become desensitized to change in that market. Don't be on the ship when it goes down. It's better to cut your profits a little short and have free time, than it is to just spiral down the drain.

Favorite part of it was flipping trash in the houses. Most of them contained 100% garbage, but you find some real gems every now and then. Braille copies of playboy for example. I can share more if people want.