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The differences between me and the fleamarketflipper...
I like what they do, buy and sell, anything. What I don't do is:
I chattel for the money, I truly FLIP stuff, never store anything. Of course there is no right or wrong, whatever works for you, works.
My older brother was stubborn about holding onto cars which he 'KNEW' were worth more than what people offered. Even though I proved time after time, that circulation beats storage 6.5 days a week.
Rob, the fleamarketflipper has shown he likes to tinker, fix things up, and he had a big storage unit where he kept his buys. Today he uses freight, and is not afraid to buy heavy furniture, appliances and even industrial size chattel.
I want to buy today, and SELL TODAY, if I can...and make a profit.
We once bought a car for 400 dollars, flipped it for 2500, even though the blue book and "street value" was about 1500 more. Brother wanted to hold it.
I sold it (in this case, title was just in my name). The 2000 dollars we kept in circulation more than made up for the 1500 he thought we "lost".
Today, I saw a snow blower on the curb. Rob would pick it up (just guessing and assuming), fix it and send it down the road for a 100 dollar profit, that is, if he lived in Ohio. Not much call for a snowblower in FL.
I walked on by. Someone will pick it up, small engines are one of the easiest things to repair, SOMEONE, is either going to profit from this curb item or have a way to clear their drive next winter. That is STORAGE all the way.
NOW is lawmower season, and AIR CONDITIONERS, and garage sales.
I never liked appliances, big things, especially washers/dryers and couches. My chattel mantra was/is, back seat of the smallest car, with some exceptions. Now one of my students is killing it with restaurant equipment, and has hired his young strong nephew to help him move stuff, actually started that as a sideline hustle, moving stuff (although he recently found out about licensing and FEES for certain kinds of moving, albeit, he has insurance, county to county, moving regs differ).
The point is, YOU aren't making money until you SELL something, but tinker, fix, repair and HOLD all you want. It is, and you'll find this to be true of the people who do more than occassionally dabble, the more you flip, the more you make.
There is just too darn much chattel laying around, an insatiable buying market, a never ending supply and a profit when you stand between buyer and seller.
You can OVER complicate things, or just keep it simple. Buy today, SELL TODAY, for a profit, put the money back to work.
Get to a certain cash level, just rinse and repeat.
This is my short and sweet answer to the email, from one of you, asking about how I differ from the fleamarketflipper. I like what they do, although, I'd be inclined to flip a little smaller and lot faster, but what works, works.
Just do it. And don't lose any money. OK?
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