Let’s talk about how we turned $100 into $2,200 in a single flip in less than two weeks. This flip actually happened while we were out of town and we’re going to unpack how I got it, how I sold it, and the process of that. We were at a mastermind event last weekend with our one-on-one coaching students when it sold, so it was cool to show them the sale and celebrate the win.
Sourcing The Cooktop
We picked up this 45-inch gas cooktop over the summer on our road trip.I found this listing online and the guy supposedly had all the pieces. When I met him, he was taking it out of one of his rental houses, and it was missing the grate that goes on top of the downdraft. We looked in his trailer, but we couldn’t find it. He offered it to me for free, but I gave him $100. I knew I was going to make money on it, but it was missing that one piece.
When we got back I reached out to our Flipping for Profit members group and asked if anyone had the part for it. One of our members did and I said I’d buy it and pay for shipping, but she sent it to me for free. It was really, really cool that she had that grill part and we are so appreciative she gave it to us. Once we got the part, we took pictures, got it listed, and it sold within two weeks of listing it.
For us the longest part isn’t getting it sold, it’s often getting it listed. Some stuff just sits in the trailer longer, especially right when we get back from our road trip. We have a lot of things going on with our coaching business and our kids so sometimes listing is the piece that takes the longest.
Testing The Cooktop
Another piece that helped us sell this is that I tested it before listing it. I got it cleaned up and tested the burners; two of them did not work. I ended up buying a four pack and replacing the two igniters, which I learned how to do from watching a YouTube video.
Now, I have an understanding of how stuff goes together and how to pull stuff apart to get to that component that I need to change, so I probably would have figured it out without the video. But sometimes it’s easier to watch a YouTube video, see it happen, and then do it yourself.
Now that it’s sold, the next process is packing it up and shipping it out.
Show Your Item Working
I also took a video of the burners working and included that in my eBay listing. Taking video of an expensive item functioning can give the buyer the confidence to actually buy the item. If they can see it working, they’re more likely to purchase it. If you’re selling a $10 item, it’s probably not worth the time to do a video, but when you get to $500-$5,000 items, it’s definitely worth it.
Keep your feedback high too. We have one hundred percent feedback. People know what they’re getting when they actually buy stuff from us, and that we’re not over-promising and under-delivering. They’re going to get what’s promised in the listing, and our reviews show it.
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