Let’s jump into the do’s and don’ts of a $35,000 flip we did. This is a blast from the past. It’s the story of our huge Sleep Number flip.
We are going to share some pointers from this $35,000 flip and how we did it.
This wasn’t just one Sleep Number, it was a bunch of them. I love finding deals on bulk items and reselling them for huge profits. Anytime we find a good deal where somebody has a lot of them, we try to make a group purchase on them to negotiate a better price with it. This deal included 60 king-size hotel mattresses.
Finding The Sleep Numbers
I found this flip while scrolling Craigslist back in 2015. I messaged the guy and he gave me an address. He did not say it was a hotel, so I was surprised when I pulled up to the Radisson Hotel. I thought maybe he had one mattress, but he took me back to a ballroom where 15 Sleep Number mattresses were on display. He was charging $200 per mattress. The mattresses were white but you could definitely see the stains. I negotiated the first mattress down to $160. I knew they came apart and could be cleaned. The top zips off and the mattress pad on top comes off.
As I was driving away, I wondered if he’d give me a deal if I took the other 14 off his hands. I called him back and asked what kind of deal he’d work if I took the rest off his hands. He called me back and said he had 60 Sleep Number mattresses and would do $100 each.I was surprised because they only had another 14 set out. I negotiated back with him and we landed on $60 a mattress, so $3,600 total. He couldn’t give them all to me at once because they were doing upgrades in stages. I did 20 at a time.
Cleaning The Sleep Numbers
We took the mattresses to our storage unit. We didn’t know how clean they were or the status, so they went straight to the storage unit. Then I took them apart and took them to the commercial laundromat to clean with bleach and Tide. It worked really well because I put Shout on them prior to washing them, and all the stains came out. We dried them at our house and then got them listed.
Once they were dry, I put them in large clear bags that you’d put leaves in and vacuum sucked the air out of them so they packed smaller.
They did all have the Radisson logo so people knew these were from hotels, and we mentioned that in our listing along with the fact that they had been cleaned and sanitized. We weren’t trying to hide anything
Part Sleep Numbers Out
When we first started selling the Sleep Numbers we were selling them for $500-$600 per bed. About halfway through, we realized we could make more money by listing them by different parts.
Even to this day, Sleep Number stuff sells really well. You can even split them up and list them separately for parts. You can sell the pumps, the foam, the mattress pads, the chambers. There are a lot of components and you can make a lot of money just by parting them out.
Always get insurance on your items. Sleep Numbers can’t really be damaged, but they can get lost in shipping. We had one that got lost and we only got $100 instead of the $500-$600 we would’ve gotten if we’d had insurance. Lesson learned!
Through the whole flip, we made $35,000. Next time you’re out sourcing, keep an eye out for Sleep Numbers!
Show Notes
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