Flipping is all the craze these days. There are television programs about house flippers, antique flippers, car flippers; in fact, there seems to be a show about every kind of flipping except hair flipping and pancake flipping. Flipping can be a lucrative business. Purchasing merchandise on the cheap, refinishing it or re-purposing it is what flipping is all about. The following tips can help make you an expert flipper in no time.
1. The best way to begin as a merchandise flipper is to read up on the topic. There are some great websites that are all about flipping, as well as excellent books in your local bookstore or library.
2. Once you’ve educated yourself on the fine art of flipping, you need to begin hitting yard sales, secondhand stores, charity thrift shops and estate sales. These are among the best places to comb for good quality “flippable” merchandise.
3. Be careful that the merchandise you purchase to refurbish and flip is of the highest quality. Do research on brand names of furniture, household items, clothing and accessories. Often you can find bargain basement prices on items that were top notch when they were brand new.
4. Check out online auctions as a way to get a good price for your items. You can command better money when you sell that way than by selling at a yard sale. You are also advertising your goods to a bigger audience.
5. Think outside the box. If you spot a dresser that has good drawers but the base is bad, refinish the drawers, add casters to the bottom and sell them as under the bed storage boxes. Think of alternate uses for items and expand your sales base.
In a failing economy any way we can find to make extra money is a worthwhile time investment. Flipping is a fun and profitable way to add a few dollars to your bank account.