The following is a guest post from Thomas. Thomas blogs over at i need money ASAP! where he helps people who need money fast.
Over the last year I’ve made over $1000 on Craigslist and you could too! Selling personal stuff on Craigslist is great if you need money quickly but selling your own stuff isn’t the only way to make money on Craigslist. There are plenty of other opportunities if you need money asap. Here’s how you can make money on Craigslist too…
Craigslist Flipping: How To Make Money On Craigslist
One of the best ways to make money on Craigslist is through flipping, buying items cheap and reselling them for a profit. There are thousands of items put up for sale every hour and not everyone knows exactly what their stuff is worth. Some people are either really bad at pricing their stuff or they just don’t care what it sells for. Either way, finding these cheap items and flipping them is an easy way to make money on Craigslist.
Personally, I like to flip bicycles on Craigslist. In my area there’s a large market for used bicycles and there are also lots of old ones for sale. It’s easy to find cheap bikes that require a bit of work on Craigslist. These can be flipped for double or triple the price after just a bit of extra work. Buying bikes for $20-$40 and selling them for $60-$200.
Flipping stuff on Craigslist works best when you’re familiar with the item. For me its bicycles but for you it could be:
- Video Games/Consoles
- Power tools
- Lawn tools
Finding Items To Flip:
#1: Find A Deal On Craigslist
Making money on Craigslist is much easier if you’re able to spot a good deal. Here’s what to look for to find a good deal:
- Scratches or other cosmetic damages
- Dirty or dusty items
- Items with bad pictures
- Posts with misspelt keywords
- Broken items that you can repair
Don’t forget to negotiate with sellers on Craigslist. Always be polite and friendly when negotiating. You’d be surprised how easy it is to knock a few dollars of an item if you just ask politely.
#2: Find Items In The Trash
Craigslist isn’t the only place to find items to flip. It’s sometimes amazing the things that people throw out. I’m constantly finding old bicycles in the trash. Sometimes they’re in perfect working order but otherwise they’re pretty easy to repair and sell on Craigslist. The best part is that it’s 100% profit!
The best time to find these items is on your bulk trash day. Try going out the night before to find the best items.
#3: Visit Garage Sales
Another good source of items is from garage sales. Visit garage sales in your area and look for items that could easily be flipped on Craigslist. Garage sales are another good opportunity to negotiate, just ask nicely “if that’s their best price”.
Spend a Saturday morning visiting garage sales in your area. Just make sure to stick to items that you know can sell for a profit.
When trying to make money on Craigslist it can pay to be patient. Sometimes you can charge a much higher price if you’re willing to wait a few days or weeks. If your item is seasonal you may have to wait even longer to get a high price.
When flipping bicycles I often pick up a few during the winter months when there aren’t as many buyers. These bikes can often be bought at a much lower price. Then I just hold on to them until the spring. Once we get the first few days of nice weather the number of bike buyers goes up dramatically and so do the prices!
Add value to your items by fixing them or adding some creativity. When selling bicycles I usually give them a simple tune up including tightening the brakes/shifters and cleaning/lubing the chain. I’ll also fix any broken parts like flat tires or old bearings. This adds extra value and extra money to your Craigslist flips.
In the past I’ve also flipped furniture. In this case adding value/creativity could be in the form of a fresh coat of paint. We once found an old banker’s chair that we coated in bright yellow paint and a glossy finish. We were able to sell that item for $150!
Tips To Make Money On Craigslist:
Here are a few tips that every seller should know. Following these tips will make it easier to make money on Craigslist.
- Always include a few nice pictures
- Price things appropriately
- Provide an accurate description (including wear or chips/cracks)
- Include all relevant keywords in the post
- Put a deadline on your post, create a sense of urgency
- Don’t respond to “spammy” inquiries
- Setup a separate email address to avoid spam
- Only accept cash (no checks or money orders)
- Small bills are preferable
- Meet in person, don’t ship anything
- Conduct the transaction in a public place
- For large transactions consider doing the transaction at a bank where the funds can be deposited immediately while the buyer waits (and can be also be checked for counterfeits)
- Bring a friend if the transaction is sizeable
- Be prepared to walk away if anything seems “off”
- Copy or photograph the serial number of the device
Hopefully after reading this post you too will know how to make money on Craigslist. Don’t forget to come back and let us know how you did!
For more ideas on how to make money fast visit Thomas at i need money ASAP!
Photo by ubrayj02 via Flickr