Our family was recently on vacation and we’re going to tell you what we found on Facebook Marketplace that was worth $7,000 so you can start looking for these high profit items too.
For spring break, we went to south Florida and then we ended up back at Disney at one of our favorite campgrounds. We split the trip to go camping with the kids and we also brought our toy hauler camper so we could look for items like we always do on vacation.
We did find a few items down there that we were interested in, but I was only able to negotiate and pick up one within the timeframe we were down there. It was a commercial deep fryer and the seller was asking for $300. I offered them $250 before I got there and when I got there, it was not what we had talked about.
Negotiating On The Item
We arrived at the house and the seller wasn’t even there. You could tell the house belonged to a scrapper because there was stuff everywhere and the fryer was right in the middle of the yard and was a lot dirtier than expected. There was a lot of grease. When I was looking at the fryer, I was thinking, should I take this on?
I hate negotiating further on deals once I see an item in person because I think it can be rude. In this situation, the fryer was in worse condition than I thought and when I plugged it on, the middle fryer did not power on. The two outside ones did, but the middle did not work. Right off the bat, there’s room for negotiation because it’s not working like the seller said it did. The seller’s wife or girlfriend was there and she said to make an offer. I threw out $100 and she said to take it. We loaded it back in the truck and took it.
We got a good deal. I don’t like to double negotiate, but if you make the effort to drive somewhere and the seller did not disclose something was broken, there is room to negotiate. And if they won’t budge, then you have to know when to walk away. This seller didn’t want us to leave and not take it, so they made it work.
I knew I could spend that extra $150 saved on having someone degrease it and get it cleaned up. I’m at the point in my business where I’m trying to hire out the tasks that will take me time. And if I have room in the profit, I can do that.
Even though the center bay isn’t working, I could also pay someone to fix that for probably $200 to get a new control board. With the two outsides working, I shouldn’t have any trouble selling it for at least $5,000 once it’s cleaned up.
I just had to weigh the options on whether doing all that would be worth it. If the item gets fixed, I can probably get between $7,000-$10,000.
Was The Flip Worth It?
In this situation, I spent $100 out of pocket. Maybe I’ll have another $300 on it with cleaning and repairs. In total $400 investment to make $7,000 is absolutely worth it to me.
If we break it down, I probably have two hours invested in the driving, five hours to clean and fix it, and then another hour to ship it, and some hours to fix it. Let’s estimate 12 hours total, and let’s say I sell it for $5,500 profit. That is a great hourly rate! It’s around $450 per hour for my time. This is why we love doing high profit flips.
Show Notes
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FURTHER RESOURCES
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