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When I started flipping I made the mistake of complicating it.
I’d try to figure out the exact profit margins on every item and check the historical trends, sales volume etc.
I stressed myself out.
I decided to make a change:
I’d try to figure out the exact profit margins on every item and check the historical trends, sales volume etc.
I stressed myself out.
I decided to make a change:
I now am good with items as long as they sell for around 3-4x what I buy them for.
Usually that’s enough to make a comfortable margin especially if the item is small, light, or not easily broken.
I still flip those things too I just do a little more math first.
Usually that’s enough to make a comfortable margin especially if the item is small, light, or not easily broken.
I still flip those things too I just do a little more math first.
Honestly, @eprofit_app helps a ton.
Most items I buy fall into one of two categories:
Light (under 1 pound, ships USPS First Class), average $5-7 shipping
Medium (1-4 pounds, USPS Priority Mail or FedEx Home Delivery*), average $9-15 shipping
Most items I buy fall into one of two categories:
Light (under 1 pound, ships USPS First Class), average $5-7 shipping
Medium (1-4 pounds, USPS Priority Mail or FedEx Home Delivery*), average $9-15 shipping
So using the app I type in the cost of the item, my estimated shipping (usually the upper end of the range I expect it to go for), and my expected sale price
@DoctorFlip has a great thread on finding sold comps on eBay.
If the app shows a profit I’m comfortable with, I go!
@DoctorFlip has a great thread on finding sold comps on eBay.
If the app shows a profit I’m comfortable with, I go!
If something doesn’t sell as well as I expected (or at all) I just either:
A) return it
B) lower the price and try to recover my cost
The biggest change for me was trusting the research others had done in our group (Products for Profit) and getting used to shipping price ranges
A) return it
B) lower the price and try to recover my cost
The biggest change for me was trusting the research others had done in our group (Products for Profit) and getting used to shipping price ranges
So if you’re new to flipping and stressing out about profit margins and finding good flips, try to relax a bit.
It does get easier with experience.
Soon enough all you’ll really have to look up is the sold comps to get a decent idea if an item is profitable.
So stick with it!
It does get easier with experience.
Soon enough all you’ll really have to look up is the sold comps to get a decent idea if an item is profitable.
So stick with it!
Please DM me if you need help and I’ll do what I can to point you in the right direction.
*Note: FedEx shipping on eBay only shows an estimated price when you print the label.
What you’re actually charged can differ.
Thanks @travisrehmke for pointing that out to me!
*Note: FedEx shipping on eBay only shows an estimated price when you print the label.
What you’re actually charged can differ.
Thanks @travisrehmke for pointing that out to me!
