This plan is probably insane.
I am endeavoring to turn $50 into $50K to pay off my student loan and have some change.
A combination of reselling luck, hard work, research, more luck with a macro trend and an execution plan.
Part 1: The Setup:
To kick the journey off I used my reselling skills and $50.
The other day I got lucky. Really lucky.
In my current reseller career which now spans a few years (more than 6 on a regular part time basis) I count count on one hand the times when a similar event has happened.
This ROI is astronomical and will be critical to setup Part 2.
On a Tuesday afternoon I happened to call into an Op Shop on route to the storage unit. I arrived just before the close and struck up a conversation with some staff, friendly banter. I was offered a large selection of about 40 books for the princely sum of $25 were all from the same set. I didn’t even bother to check prices as I knew selling only a couple would recoup my cost. To make things even better they were desirable which can sometimes be tough in the world of selling books. Having that X factor can really get that sell through rate way up.
Anyway, the following day I ventured back with the Mrs. at the same time of day on the off chance that the rest of the set had been located. As luck would had it it had and the staff had only just finished putting them all out this time with $5 each. I asked if I could have the balance again for $25 effectively creating a full set and succeeded!
I now had just over 80 books for $50. Over the next 2 nights I hustled late into the night after work and the gremlins were asleep (before midnight) to get these up and listed for $35 each. Yep you read that right, $35 each.
Quick math: 80 x$35 = $2800 which is an ROI of 5500%. Not bad. This figures gross obviously.
I’m not that greedy though and wanted to really move these on. It wasn’t long before offers starting to roll in for several of these books @ $20 a piece. Even at $18 a piece profit (after factoring fees and accrual for shipping across bulk buys) that still works out to be somewhere in the vicinity of: 80 x 18 = $1440 or a lazy 2780% net profit.
Stay tuned for Part 2 and what’s happening to the $1440.
So far 26/80 have already been sold 🙂