Flipper University alum Tomas Carrizoza found flipping when he was looking for a way to step down from his management job to spend more time with his family.
Let’s dive into how he started his flipping business, what he’s learned, and how he’s grown the business.
How Did You Get Started Flipping?
Tomas says he has always loved yard sales and bargaining but never considered it a way to provide income for his family.
A couple of years ago, he got a promotion that moved him out of town. He’d been working in retail management for a decade or so and finally got to a new spot, one position from the top. At that time, he took inventory of his life and realized he didn’t enjoy the job.
So then he started seeking opportunities to do something else. He was friends with another Flipper University member Stacy who was flipping. Tomas didn’t think it was for him or would pan out where he was living. Fast forward a few months, and he understood more about flipping. He was looking to step down from his management position, which would mean a pay cut, so he needed to supplement his income. He was introduced to Flipper University, and then he and his wife dove in.
Are You Still Part-Time?
Tomas says they started slow with flipping and wanted to grow their business organically. He stayed in his position for a year while trying to see what income he could make by flipping. Four months ago, he stepped back from his salary management position, which was 50 to 60 hours a week, down to an hourly 40-hour-a-week position. Flipping is supplementing the income. Now he’s enjoying what he does at work and can spend more time with his family.
What Items Are You Flipping?
Tomas says he’s just part of the business. He gets to do the fun stuff like purchase and negotiate deals on items, while his wife Tiffany handles more logistical pieces like shipping.
They flip everything from ink toner to cooktops and printers. There’s nothing out of their realm at this point except for super big stuff. They haven’t gotten into freight yet because they’re renting and don’t have a lot of space to store items.
They both source, and Tomas takes the pictures and lists the items. Then Tiffany takes it from there and keeps track of the books too.
Where Are You Sourcing?
Tomas sources from thrift stores, estate sales, and yard sales. There’s a thrift store on the way home from work, so he stops there more consistently now. Yard sales are his favorite because he lives in a retirement community and finds many cool vintage items that are quality products.
How Many Hours Do You Spend Per Week On Your Business?
Tomas says they spend 15 to 20 hours a week on the business, Monday through Saturday.
What Are Your Monthly Sales?
Tomas says monthly sales, on average, are around $5,000. They sell about two to three items daily, about 60 to 75 per month. And they net over $2,000 a month.
What Is A Mistake You Learned From?
Tomas says he bought a lot of 10 light fixtures and bargained them down but still paid too much. When he picked them up, they had the Goodwill stickers on them, so he knew it was a reseller trying to offload them, but he swooped them up. Tomas thought they were brand new in the box. He finally sold one and shipped it out, and the buyer said some of the crystals on the chandelier were shattered. He didn’t look inside the box before shipping because he thought they were new. To fix the situation, he pulled out a crystal from another one and sent it to the buyer, who was happy, but it made Tomas realize sometimes you have to slow down.
Was It Hard To Transition To Working With Your Wife?
Tomas says they’ve grown as a couple working together. They’ve learned to recognize each other’s strengths and use them for the business. His strength is customer service, and he reaches out to the buyer to negotiate. His wife’s strength is logistics, and she calculates the type of shipping and box needed for all the items. Tomas says his wife is more organized and thoughtful, while he is an action-taker, and they work well together.
What Is Your Most Memorable Flip?
One of the big things that stands out for Tomas is a JennAir cooktop and double oven. At the time, he wasn’t doing freight so he couldn’t sell the oven on eBay. He went back and forth with the seller, who wanted both gone. The seller offered him the double oven for free, and they crammed it into Tomas’ Nissan Rogue. He had the seat pushed up to the steering wheel to get home. He ended up selling the double oven for more than he spent on the cooktop. Then he listed the cooktop on eBay because he knew how to ship that. He was working his regular job when he got the notification for a $2,400 sale, and it was the moment he realized flipping is a way to make real money for his family.
What Advice Would You Give Somebody Trying To Start This Business?
Tomas says to start slow. The worst thing you can do is go out and spend a ton of money on shipping supplies on items you won’t make the ROI on. There are things for free everywhere. Keep records of your spending so you know what you’re profiting from. You don’t want to go out spending a ton of money to make $20.
If you want to be successful in this business, start slow. Let it grow organically. Learn the ropes, and then you can go from there.
Show Notes
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