π°π΅ You can easily make a days wage with one flip aka resale. π±π
I'm making a quick basic guide to see if Steemians value these types of articles. God willing, I will make a well detailed guide if this guide proves to be beneficial to Steemians.
The rules: Buy Low, Sell High
In order to buy anything low and sell it high you need to know the value of the item.
Post a wanted ad on Craigslist or your preferred classifieds website.
Your post should state that you are buying iphones in all conditions for cash. Your phone number should be included in the post.
Use eBay.com to find out how much an item ACTUALLY sells for:
Search eBay for the item you are looking to buy and modify the search results to show ONLY sold listings. If you see your item selling for $100-$150 for example, you should assume that your item will sell on the lower end of $100-$120. This will prevent you from buying too high in expectation of selling your item at the higher end of the scale.
Calculate the fees for selling on eBay
You will be paying eBay fees, PayPal fees and shipping fees. In my experience these fees total 14%-18%. To ensure I am not paying too much for my phones, I always use 20% in my calculations. So, if I determine I can sell a phone for $100 or eBay, I calculate that 20% of the selling price will go to fees, leaving me with $80.
Determine how much profit you want to make.
From the above example, I could get $80 AFTER fees for the phone that sells for $100 on eBay. So to make $30 profit, I would offer $50 or less for this particular phone.
(eBay Selling Price) - (Fees) - (PROFIT) = Cash Offer Price
This is the equation. Take the eBay selling price, subtract your estimated fees, then subtract how much profit you want, and you are now left with how much you can offer someone for their phone.
Go make some money
Practice makes perfect. You may feel pressure to offer low prices but it will get easier. If you are getting alot of "NO"'s then it is a sign that you are making GOOD LOW OFFERS. If people are accepting your offers quickly then that is a sign that you are not offering low enough.
Only buy iPhones if you are familiar with the phones software so you can thoroughly test the device. Also, only meet people in safe areas such as inside of a bank, police department, or other public business with good security.
If you find this article useful please upvote follow and RE-STEEM, or atleast Re-STEEM and follow @toon :P