Shopping Goodwill Outlet: How to Make Thousands of Dollars

Goodwill outlet stores are not the same as you Goodwill Retail stores because at the outlets you will dig through bins and pay a flat rate per pound.  For instance here in Denver, CO when I go to the outlet store I will pay .99/per pound.

Below is a video by Casey the Rockstar Flipper and he is going to go over the basics you need to know in order to make thousands of dollars shopping at Goodwill Outlet to resale on eBay. I have personally used his techniques and they work amazing.  I always believe that if you want to learn how to do something then learn it from someone who is really successful at it.  Rockstar Flipper does over 6 figures a year in sales, and drives an i8 BMW, all from his eBay business.

 

Goodwill Outlet Tip #1 – Know the hours and get there early

You want to get to the Goodwill Outlet store as soon as the open the doors for 2 reasons:
1. The shopping carts go fast, and you want a shopping cart because your goal should be to fill it to the top.

  1. In most cases they start rotating bins as soon as they open. The more bins that get rotated the more potential money you have to make. Also, the first bins typically have some of the best stuff in them.

Goodwill Outlet Tip #2 – Be aggressive

Shopping in the bins is a lot like Black Friday because you have a lot of people there looking for those diamonds in the rough.  You need to be prepared to dig fast, stand your ground and don’t let people push you around.

Goodwill Outlet Tip #3 – Make sure you dig to the bottom of every bin

So many people in the bin store skim the top and miss out on amazing items that are buried under a ton of crap.  Treat this like and job and work hard, and that includes digging all the way through the bin.

Goodwill Outlet Tip #4 – Make sure you wear gloves

This is so important because a lot of the stuff is nasty, sometimes you will have broken glass, or sharp pieces of metal and you want to protect yourself from getting cut.  You don’t have to have gloves for clothes, but for sure if you are going to dig in the regular houseware bins and electronics.

Goodwill Outlet Tip #5 – If you see something you want grab it immediately

If you see something that you think might have value but you’re not sure grab it, put it in your cart and go back to it later to check its value.  If you don’t someone else will grab it and you will be SOL.

Goodwill Outlet Tip #6 – Make Friends

Build relationships with the employees and the other people that shop regularly.   The employees are a great source because they can let you know when the next set of bins are coming out, and  give you a discounted price on heavy items.  Regulars are great because many of them will tell you and show the items that are making them money and give you tips.

Goodwill Outlet Tip #7 – Make Friends with the Managers

These guys can give you deals on buying in bulk and discount pricing on those heavy items like blueray players and stereos.  Also, they can give you updates on the things that are coming up like specials or discount days.

Goodwill Outlet Tip #8 – Stay to the end

If possible plan to stay to the very end and go through as many bins as possible because you can find good items all the way to the end.  Also, a lot of people leave early, so you have less competition toward the end of the day.

Goodwill Outlet Tip #9 – Learn how to weigh an item without a scale

You need to be able to tell how much something weighs for 2 reasons:
1. You need to know how much it’s going to cost you
2. You need to be able to calculate how shipping cost will be when you sell the item

Goodwill Outlet Tip #10 – Research every item on eBay before you pay for it.

Basically you want to research each item and make sure it is going to bring in a profit.  Wait till your ready to go, then go over each item to make sure that your are going to make money.

eBay Returns: How to Deal with them like a Pro

I know that an article on eBay Returns is not popular, and most likely made you cringe just by seeing the words on the page.  I know if you are like me and you open your eBay message and see a return it can unleash a mass of emotions at one time such as sadness, anger, fear, shock, etc.  I want to put your mind at ease and show you the best way to deal with eBay returns the right way.

  1. Set your account up for returns, so that you return process is automated
  • Here is a video that walks you through the eBay return process

  • Here is a video that walks you through how to setup for automatic eBay returns
  1. Once you get a return notice eBay will automatically provide the customer with a return label, then they will ship the item to you.
  2. Once the item is returned, issue a refund

Now that is how everything works in a perfect world, but below I will deal with issues where those steps are bypassed or do not apply

  • What if someone opens a case instead of a return:
    • I hate when this happens because it will freeze those funds until the case is closed. Here are some steps to help resolve the issue.
      • Upload tracking information
      • Included a message in the case for any updates you have. This is important because if eBay needs to close the case they will review the messages and make final decision.
        • State if buyer refuses to return item
        • If buyer never contacted you about issue
        • Details about transactions and the issue
      • If you need to issue a refund: Do not wait to issue the refund because if eBay has to step it in and issue the refund and close the case that is going to affect your seller score specifically cases closed without seller resolution.

In the comments please tell us how you deal with eBay returns or maybe even your worst or best experience with an eBay return.

Selling on eBay Youtube: Top 5 YouTubers

When I started selling I had no help, and every person I researched for selling on eBay Youtube Videos was just trying to sell me their get rich program.  Over the last couple of years I have been able to find some great YouTubers that are extremely knowledgeable on How to Make Money on eBay, Amazon, and Amazon FBA platforms.  I have added links to each of their channels and created a short video to explain what I like about each person to go with this post.

  1. RockStarFlipper (My Favorite Channel): 
    RockStar Flipper YouTube Channel

Reasons I like this channel:

  • Runs business model closer to how I run my eBay business
  • Uploads a new video everyday
  • Will answer your questions
  • Everything is FREE
  • Sells mostly on eBay
  1. Resale Rabbit:
    Resale Rabbit YouTube Channel
    Reasons I like this channel:
  • This guy is a pro when it comes to sourcing product from thirft stores
  • His videos are very informative, and you can learn a lot about items you should be looking for when sourcing.
  • Sells mostly Amazon FBA
  1. Raiken Profits
    Raiken Profits YouTube Channel
    Reasons I like this channel:
  • Great for people that want to sell clothing
  • Does lots of interviews with other sellers
  • Sells mostly Amazon FBA
  1. Golden Finger Picker
    Golden Finger Picker YouTube Channel
    Reasons I like this channel:
  • Sourcing and selling style is a lot like my eBay business
  • Does not try to sell you anything
  • Full of great information on sourcing and selling
  • Sells mostly eBay
  1. Bonafide Hustler

Bonafide Hustler YouTube Channel
Reasons I like this channel:

  • Motivational, Great Content
  • Does lots of interviews with other sellers
  • Sells mostly Amazon FBA
  • Works with Raiken Profits

I hope this has giving you a great source for finding selling on eBay Youtube Videos and YouTubers.  Please let us know what you think of the video in the comments below.

How to Make Money on eBay: Steps for Success

I see people all the time try to sell something on eBay and end up losing money because they did not know how to properly source, list, and ship their items.  In this post I am going to take you step by step of what you should be doing when selling on eBay.  If you follow the steps below on how to make money on eBay I believe you will be a success.

  1.  Sourcing Products to Sell on eBay:

Something you have to remember is that eBay is a discount website, and when you sell on eBay you have to compete with the prices that everyone else is selling items for.  When you go to a thrift store, garage sale, retail store, etc. you need to make sure that the items you buy are going to make a profit after shipping and fees.

This is achieved by using the eBay app, and doing research on your item while you are in the store to make sure you are buying an item that sells for more than the purchase price.  When I buy items I like them to be worth at least 3 times what I pay for them that way I am more than doubling my money after fees.  For example if I buy and item for $5 I want it to be worth $15 at the bare minimum.

I have attached a video showing how to use the eBay app when sourcing products

2.  Listing Items on eBay
When listing an item DO NOT play the roulette auction game. You are in business, and you need to make sure you are going to make money on every sale.  Don’t leave you profits to chance hoping someone drives up the price.  If you are going to sell on auction include ship price + profit margin for opening bid.  Let’s use the $5 dollar item example again.  If you are going to sell this item on auction then you need to Put min bid amount at around 12.95 + Shipping costs.

I prefer to do it this way:

  • Buy It Now with Best Offer (add 20% to price you want so you can negotiate)
  • Free Shipping – (Add shipping into the Buy It Now Price)
  • Formula Example: $5 item would look like this formula (item x 3 +.20 + Shipping – formula in numbers 5×3=15x.2=18+3=21) so I would list this item for $21 or $20.95 with Free Shipping.
  • Shipping Items on Ebay

3. Shipping items on eBay

Auction = Item + Shipping – $18 with $3 Shipping
Buy it Now – Item + Free Shipping – $21 with Free Shipping

I prefer to purchase items that are below 16oz in weight so that I can ship them USPS first class mail or books medial mail.

If you are going to ship a heavy items you have two options:

  • USPS Prioirity Flat Rate – This gives you a flat up to I believe 50lbs
  • Fedex Home Delievery – I normally end up using Fedex Home Delivery due to cost and time.

4. Calculate eBay Fees
Remember that you have to pay fees: Avg is 10% ebay + 3% Paypal, so 12-13% of you sell will go to fees unless you are a power seller then ebay fees will drop to 8%

I hope this article has taught you how to make money on eBay, please leave us a comment and let us know what content that you would like us to write about next.

Can You Make Money Selling Books on eBay and Amazon

I get asked all the time can you really make money selling books on eBay and Amazon?  The answer is absolutely YES!  If you know how to do your research and where to source your books then you will be setup for success.  I will make detailed post about how to research books and also where to source books to sell on eBay and Amazon, but for now I will give you a brief overview.

  1. How to research books to sell on eBay:
  • I use a app call FBA Scan made by Asellertools. You can also use the amazon seller app, but it will take longer to scan and research books. If you are just starting I suggest start with amazon app and then upgrade to FBA Scan.  This is one of the best tools on the market to help you make money selling books on eBay and Amazon 
  • When buying a book you want to make sure that it has a rank of 1 million or less, unless the book is worth a large sum of money and it’s worth setting on the bookshelf for a year waiting to sell.
  • When buying a book you want to make sure the price is worth at least $10
  • I setup FBA Scan with triggers and if the book meets my requirements then I will get a green buy button. This tells me that the book is a good find, and then I will purchase it.

 

I have included a little video of a book hual I did at a very small local library.  I spent about 20 minutes of my time and $9 cash, and I was able to list the books for $161 which is amazing ROI.

  1. Where to source books: A lot of this will depend on where you live, but here are some tips
  • Local libraries – A lot of libraries have book sale clubs that you can become a member of for a few bucks. This is worth its weight in Gold because most libraries do not just sell library books but also donations that do not have library tags on them.  Books normally range from .50 – $2
  • Thrift Stores – You’re going to pay a little more, but they have large inventory. TIP: Try to find a couple good thrift stores that do not have book selling stores on amazon and eBay. Books normally range from $1-$4.
  • Garage Sales – Great place to get a deal, you can sometime just bulk the books together and get a discounted price. Books normally range from .25-$1
  • Estate Sales – Same as with Garage sales but you can find older books at estate sales.
  • You can also use bookfinder.com to find large book sales in your area

I hope this post about how to make money selling books on eBay and Amazon has been informative.

Would love for you to leave a comment in the box below, and subscribe to our YouTube Channel.

The Best Places to Source Items for eBay

The absolute hardest parts of selling online is finding Best Places to Source Items for eBay.  Inventory is a never ending battle, but in this article I am going to give you a list of some of my absolute best places to source items for eBay.  I have been selling on eBay for over 10 years and some of my favorite honey holes for sourcing I just learned about in the last year.

Here are my picks for the best places to source items for eBay:

  • Goodwill Outlets – Do not get the Goodwill Outlet stores confused with the Goodwill Retail stores. Outlets are where you will go and shop out of bins.  When you purchase your items you will pay by the pound.  For instance the Goodwill Outlet in Denver, CO is .99 cents per pound.  So, I can basically fill a basket full and walk out of the store spending $50-$75 dollars.  This is a great way to build up inventory when you are just getting started.  The down side to the Goodwill Outlet (also referred to as the Goodwill Bin Store) is that it is 99% junk, so you have to spend your time digging through the bins looking for that diamond in the rough.  It also a little dirty so if you are a germaphobe then I do not recommend you go.  If you do go I recommend taking a pair of thin gloves.  I will write a full post on how to shop the Goodwill Outlets.
  • Goodwill Retail – Please note that not all Goodwill’s are created equal, so you need to visit all the Goodwill’s around you and find that one that has the best prices and the best inventory. I visit 3 Goodwill’s in my area.  One has the best prices, one has the best inventory, and the other just because I can find an item every now in then.
  • School Auctions – Local school auctions are a great source for inventory. The government loves to spend money and they have to constantly upgrade equipment and use all of their funds per year or they lose the funding.  This means they get rid of perfectly good working items just so that they can replace it with a new and better version.  You can typically purchase items by the pallet, and get massive ROI off you investment.  TIP:  Go to the auctions in the nicer suburbs with big school budgets,  and stay away from inner cities.
  • Library Sale (Books, CDs, DVDs) – I use booksalefinder.com to find libraries that are having sells in my area. You can normally find books for .50-$2, and CDs and DVD for .25-$1.  This is a great place to source if you know how to scan books, cds , and dvds.  I will make a separate post and video on how to scan books to sell on amazon and eBay.
  • Garage Sales/Estate Sales – These are great because you can really haggle and get some good deals, and most people just want to get rid of the stuff due to lack of space so they are willing to bend on their prices. When it comes to Estate sales Sunday is normally the last day and everything goes ½ and you can talk them down even more.  With that said if there is something really nice at an Estate Sale you need to buy right when you see it because if you don’t someone else will.  Then, go back on the last day and bundle a lot of smaller items that did not sale and get them for pennies on the dollar.

I know that there are a ton of other places to source, and we did not even cover online avenues, but these are some of the Best Places to Source Items for eBay that I have found.  I would love to hear from you, so in the comments please list you favorite place to source inventory.

How to be Frugal

Tired of being broke all the time with no savings and no investments, living paycheck to paycheck, worrying that if you lose your job you will not be able to survive a week much less 3—6 months.  I know the feeling, and it took me a long time to get past the fear, and decide to change the way my family handles money.  In this post we are going to cover 5 basics on how to be frugal that will get you on the right track and teach you some basic principles of how to live frugal.

Before we start I want you to know that I’m not talking about extreme cheapskates where you are so frugal people look at you like some sort of freak show, and you family despises you because you so tight with the money that they can’t enjoy anything.  No, these are just basic tips on how to improve your life by living more frugal and learning how to save and invest money.

 

Tip #1  Stop Using Credit Cards

If you are using credit cards and paying interest rates 15-25% then you stand no chance of making it.  The borrower is always slave to the lender, and you are throwing away money in interest ever year because you could not wait to have an item, so instead of saving cash and buying it at a discount you charged it full price.   This is insanity,  by the time you pay off that new laptop or pair of shoes you will have paid on avg 3-10x the amount of the sticker price on that item. Warren Buffet one of the richest men in the world with a net worth of over 70 billion said ‘’the biggest suggestion I have is to avoid credit cards.” Now I know that your cousin has a great plan of how to beat the credit card system, but if you play with snakes you will get bit, and the best plan is to stay away from them all together.

 

Tip #2 Learn to Save Money

This was extremely hard for me and my wife, and finally to get the ball rolling I had my work take 7% of my check and deposit it directly into a savings account. It’s amazing at how quickly money started to add up, and before long we saved up our full $1,000 emergency fund.  You would not believe how much better you sleep at night knowing that if the kids get sick or the car breaks down you have a backup to pay for it.  This is for emergencies ONLY! This is helpful so that you don’t accumulate new debts as you start working your debt snowball.  It leaves you with cash in case Murphy ’s Law visits you home.

 

Tip #3 Pay off all Debts

As you can tell most of the advice that I give is going to be based teachings from Dave Ramsey who I believe he gives the most practical advice when it comes to how to be frugal.  I encourage you to listen to his radio show and read some of his books because they will change your life.  Basically you will list all you debts from smallest to largest, and then proceed to tackle the smallest debt 1st and make your way to the largest.  As you pay off one debt you will add the money you were paying to that debt and apply it to the next debt.  This is why it is called the debt snowball because the more debts you get paid off the more money you have to throw at the debt.

Tip #4 Buy Used and Save the Difference

Learn the how to swallow your pride and buy things used.  Used cars, houses, computers, clothing, and more.  You will be amazed at the about of money you can save by purchasing items used.  We have 5 children and my wife will find deals on jeans and not just any jeans but brands like true religion, miss me, joe’s jeans, and more for under $10 a pair by purchasing them off a facebook page for a very wealthy neighborhood in our community.  That is a 1/5 of the price I would pay at a retail store, so I am extremely grateful for the way she looks out for those deals for our family.  Remember, buy used and save the difference.

 

Tip #5 Live on a written Budget

You will need to live on a budget, and I highly recommend a zero based budget, where you have every dollar that you are going to spend in a week written down and accounted for on paper for the month. I am going to write a whole post on zero based budgeting with some tools that will help you in a future article, and will refer you to that article.  The only way to win with money is to make sure that you are telling your money what to do rather than your money telling you what to do, and this is why it is important to budget every month out on paper.

If you have any question on how to be frugal or have amazing frugal stories please leave them in the comments below.

Make Money Flipping Thrift Store Treasures

I don’t just want to know how to be frugal, but I want to know how to make money while living a frugal life style.  One of my favorite ways to make money is to find thrift store treasures and then flip them on eBay.  I have been flipping stuff on eBay for over 10 years now, and in the article I am going to show you how I make money flipping thrift store treasures on eBay.

Items you will need:

  • Cell phone with eBay app install
  • General knowledge about some category of items you would find in the store. If you know all the fashion trends then look at clothing,  electronics then electronics, etc.
  • Patience

Let me give you 2 examples of thrift store treasures I found that I made some serious money with

  1. I was looking around one day and saw a tri-pod, but this was not your regular tri-pod this was a monfrotto tripod which I have sold before and new that it was worth some money. Purchased the item from a local thrift store for $7.99 and then took it home and sold it that night for $114.95.  I made a $106.96/profit with about 30 minute’s work of work.
  2. I was at a different thrift store and saw a bunch of wall coverings and did my research and purchase all 7 for 32.50, then when home and sold all sever for $400. A $367.5/profit that I made just looking for the diamond in the rough.

The System:
Please note that most of the stuff in a thrift store is junk, and you will have to train you eye to spot those thrift store treasures, and always make sure that you do research on every item so that you are not buy junk.

  • First, I do to a local thrift store and browse the items
  • When I find and item of interest I will pull out my phone and open the eBay app and search for the item. I prefer to use the exact model number if possible so that I am sure I am comparing apples to apples.
  • Once you click search, then you will need to refine the search and swipe completed, and sold so that you are only looking at items that sold on eBay. You don’t want to purchase an item that some one listed but never sells, and you want to see what people are actually paying for the item.  This step is extremely important, so make sure to do all the research before you purchase an item.
  • If I see that a couple of these items have sold and I can make at a minimum double my money after paying fees and shipping then I will purchase the item.

I have included a quick video on how to use the eBay app to research products