Author Topic: 85% return, 1 year  (Read 5427 times)

zephyr911

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85% return, 1 year
« on: August 16, 2016, 01:31:18 PM »
I bought a brass-plated espresso machine for $550 a year ago and kept it in the shipping box, holding out for the right price. Just got the right price... $1020 after Amazon seller fees. Shipping today. \m/

Classical_Liberal

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Re: 85% return, 1 year
« Reply #1 on: August 16, 2016, 02:00:51 PM »
Ha! I knew I was missing diversity in my portfolio... espresso machines.  Awesome!

zephyr911

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Re: 85% return, 1 year
« Reply #2 on: August 16, 2016, 02:22:54 PM »
Ha! I knew I was missing diversity in my portfolio... espresso machines.  Awesome!
Trying to apply otherwise useless knowledge gained in my more spendthrift days... I watched a lot of stuff to possibly buy, but by the time I saw this deal I was only still watching for the sake of a flip. Didn't expect it to take so long, but patience is a virtue.

forummm

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Re: 85% return, 1 year
« Reply #3 on: August 16, 2016, 05:49:56 PM »
How do I buy call options on your espresso machine portfolio?

zephyr911

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Re: 85% return, 1 year
« Reply #4 on: August 17, 2016, 02:36:21 PM »
How do I buy call options on your espresso machine portfolio?
I think they sell those at Starbucks, next to the gift cards xD

SnackDog

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Re: 85% return, 1 year
« Reply #5 on: August 20, 2016, 10:58:07 AM »
Next time buy a few million!

boarder42

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Re: 85% return, 1 year
« Reply #6 on: August 20, 2016, 10:59:47 AM »
Bought 9 paddle boards 3 months ago for 150 each have been reselling for 500. Have 2 left to sell.

zephyr911

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Re: 85% return, 1 year
« Reply #7 on: August 23, 2016, 09:07:02 AM »
Bought 9 paddle boards 3 months ago for 150 each have been reselling for 500. Have 2 left to sell.
Are you anywhere near me? This $500 profit is burning a hole in my pocket. ;) (j/k)
I do want a SUP though. Small one-time expense, hours of fun for no additional cost, unless of course you break it.

boyerbt

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Re: 85% return, 1 year
« Reply #8 on: August 23, 2016, 09:12:41 AM »
Bought 9 paddle boards 3 months ago for 150 each have been reselling for 500. Have 2 left to sell.
Are you anywhere near me? This $500 profit is burning a hole in my pocket. ;) (j/k)
I do want a SUP though. Small one-time expense, hours of fun for no additional cost, unless of course you break it.

Zephyr911 and boarder42:

Are both of you constantly on the lookout for opportunities such as these where you can buy/sell items fairly quickly at a nice margin? Specifically, what made you purchase the espresso machine?

boarder42

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Re: 85% return, 1 year
« Reply #9 on: August 23, 2016, 11:09:37 AM »
Bought 9 paddle boards 3 months ago for 150 each have been reselling for 500. Have 2 left to sell.
Are you anywhere near me? This $500 profit is burning a hole in my pocket. ;) (j/k)
I do want a SUP though. Small one-time expense, hours of fun for no additional cost, unless of course you break it.

Zephyr911 and boarder42:

Are both of you constantly on the lookout for opportunities such as these where you can buy/sell items fairly quickly at a nice margin? Specifically, what made you purchase the espresso machine?

no where near you that it would make sense zephyr.

i'm always on the look out for ways to make money.  usually it starts as something that i want so i research it to the nth degree.  then i start watchinf for deals .  in the case of these paddle boards.  i found then on slickdeals listed at 250 each in the post.  but then i clicked the link and it had dropped to 150 shipped.  so i bought 2 ... then i started thinking.  i could AT LEAST sell these for 300 each. so i looked at CL and sure enough 650 was the cheapest on there for a used one new was 700-900.  so i was like i'll buy 2 more and get mine for free minimum.  then i got greedier and bought 2 more.  then i got even greedier and bought 3 more.  long story short i have 2 left and i'm using 2 and after i sold 3 it had covered all of my costs.  but i'm always on the lookout to make a dollar or 2 by reselling something. 

boyerbt

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Re: 85% return, 1 year
« Reply #10 on: August 23, 2016, 11:18:42 AM »
That's awesome!

boarder42

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Re: 85% return, 1 year
« Reply #11 on: August 23, 2016, 11:27:13 AM »
That's awesome!

yeah the best part is ... is that i'm selling them for full MSRP at 500 bucks out of my garage.

Classical_Liberal

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Re: 85% return, 1 year
« Reply #12 on: August 23, 2016, 12:20:47 PM »
I'm curious, both Border and Zephyr... Do you actually spend some time searching for great deals on popular items you can churn or are these random lucky one time occurrences?

boarder42

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Re: 85% return, 1 year
« Reply #13 on: August 23, 2016, 01:56:58 PM »
I'm curious, both Border and Zephyr... Do you actually spend some time searching for great deals on popular items you can churn or are these random lucky one time occurrences?

i wouldnt call it random luck.  but i dont have the time with my day job to constantly look for deals.  if i see something pop up in my slickdeals alerts that i know has value to resell then i'll buy a lot and resell it.  when i FIRE i'll have much more time and could very likely bring in more money buying and reselling crap than i do at my current job.  (its probably a stretch to make more with my company ESOP but just base salary i could see it being more profitable) 

I like to make money.  if i find value i'll buy and resell. you just have to have that mindset.  that would be why i'd consider it NOT random luck.  i'm just always looking for an edge in anything i do.  its why i like MMM its hacking the status quo for an edge in freedom.

Classical_Liberal

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Re: 85% return, 1 year
« Reply #14 on: August 23, 2016, 02:08:18 PM »
I'm curious, both Border and Zephyr... Do you actually spend some time searching for great deals on popular items you can churn or are these random lucky one time occurrences?

i wouldnt call it random luck.  but i dont have the time with my day job to constantly look for deals.  if i see something pop up in my slickdeals alerts that i know has value to resell then i'll buy a lot and resell it.  when i FIRE i'll have much more time and could very likely bring in more money buying and reselling crap than i do at my current job.  (its probably a stretch to make more with my company ESOP but just base salary i could see it being more profitable) 

I like to make money.  if i find value i'll buy and resell. you just have to have that mindset.  that would be why i'd consider it NOT random luck.  i'm just always looking for an edge in anything i do.  its why i like MMM its hacking the status quo for an edge in freedom.

I agree doing something like that with more time would be super fun, I love a deal!  A buddy of mine got laid off a couple summers ago and decided to chill and take unemployment for a few months.  He started going to the local thrift shops and buying old, classic video games for fun.  He then went on Ebay to find some he couldn't at the thrift shops and realized he could sell at a premium.  Overtime, he learned when all of the local thrift shops put out new items or had discounted prices, went there early and picked through stuff, went to garage sales and monitored CL.  He resold on Ebay for a profit (after he played them, of course).  According to him it turned into a $500-1000 a month side hustle. I went with him one morning and it was a blast to watch, he had become really efficient!

zephyr911

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Re: 85% return, 1 year
« Reply #15 on: August 24, 2016, 09:15:35 AM »
I'm curious, both Border and Zephyr... Do you actually spend some time searching for great deals on popular items you can churn or are these random lucky one time occurrences?
I don't put much effort into it now, but I remain open to the possibility. With this one in particular, it's a product of my former habit of constantly wishlisting and drooling over all this fancy shit for possible personal consumption. After I started cutting costs, but while I still had some price alerts going, I just happened to see a hell of a deal, and realized that while I didn't want the thing anymore, it was undervalued enough for a profitable resale. So, I guess really just random luck. I don't think I would even know if another one popped up now.

I've done this with a mere handful of things in my life, some of which I researched on the spot after finding them in a thrift store, etc. Some people do it as a hobby, some actually professionalize it, but it's hard to derive a high hourly pay from what I've seen. If I factored in research time, this would probably beat my day job for hourly pay, but the more you try to replicate it, the more it's diminishing returns. I'm mostly just guessing here, but obviously it's an outlier - I watched for a year to get an obviously underpriced one, and waited another year to sell at near-market price. Very illiquid just because they sell in such low volume. Other stuff might be easier to buy and sell but with much smaller margins.