Do you know how many of the richest people in the world made their money? They bought low and sold high! Although you have to be really good to get to that level, you can do it with no or minimal investment on your own using the power of the internet. This is what this article will be about, so sit back and be prepared to have your eyes opened on an opportunity you probably didn’t realize existed, but one that was sitting under your nose this whole time!
What does this method entail?
The concept is super simple and works surprisingly well. A big retail store like Walmart, Target, Home Depot, BestBuy etc. sell a product (online or in-store) for a certain price. You list this same exact product for a higher price online (with Amazon or even simpler, eBay), sell and pocket the difference.
Wait… that’s it?! Yes! And in this case, simple also means easy if you are willing to do your research properly!
You may be asking yourself, why are people willing to pay a higher price if they can find the same product cheaper somewhere else? The answer is equally simple, most people do not want to do the research and spend time looking at different platforms. For example, some people just love buying everything from eBay rather than going through several stores and finding the best deal. And they will gladly pay premium price to save themselves a hassle! This is where you can profit even $50-$100 per sale with no investment!
Researching products
Let’s say you decided to resell on eBay. Ideally, you would want to find a product that’s at least $100 or more to give you a better opportunity to earn more by doing less. You don’t want to waste your time working for peanuts. Good categories to look into are
- Consumer electronics. Especially non-obvious things, e.g. video doorbells rather than mobile phones (where the competition is fierce)
- Games and video games
- Outdoors
- Pet supplies
- Sports
- Tools & home improvement
- and more!
eBay is great in that it allows you to see which product actually sells. A relatively expensive item that sold over 200 times is a great place to start and seeif you can get a good deal in one of the big retail chains or online.
No investment required
You do not need to invest anything other than time if you do this the smart way. First, find a great deal for a product that can be resold at a premium. Then, create your listing and wait till your item is sold. Only after you get the money from the sale, purchase the product at a cheaper price and fill out the delivery address with the address of your buyer and pocket the difference in price. Job done!
Key things to remember
- Make sure that the item you are listing is available and you will be able to complete the order
- Indicate that you do not want the receipt for your purchase to be included in the package. Good way to secure this is select “Send as a gift” option
- Keep researching! New deals pop up every day, and the best ones don’t last long, so make the most out of them!
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Happy deal-hunting!