Bike Flipping: The Ultimate Side Hustle to Make Money Fast
Are you looking for the best side hustle to make money from home or even on the go with just your cellphone? Bike flipping might be the perfect fit for you. In this comprehensive guide, I’ll share how I turned $100 into $9,119 in a single month through bike flipping, a highly lucrative side hustle idea.
Why Bike Flipping?
Bike flipping is a fantastic side hustle for several reasons:
- Low Initial Investment: You can start with as little as $100.
- High Profit Margins: Bikes can be flipped for several times their purchase price.
- Fast Turnover: Bikes sell quickly, especially if priced right.
- Minimal Space Needed: No need for storage units or large vehicles.
- Eco-Friendly: Promotes the use of bicycles, contributing to a greener environment.
I started bike flipping with a modest investment of $100. Here’s a glimpse of some of my successful flips:
- Specialized Bike: Bought for $150, sold for $900 in just 19 hours.
- Trek Bike: Bought for $100, sold for $397.
- Cannondale Bike: Bought for $100, sold for $397.
- Burley Trailer: Bought for $75, sold for $347.
- Craigslist: A treasure trove of motivated sellers.
- Facebook Marketplace: Great for local deals.
- OfferUp and FiveMiles: Apps that connect you with sellers in your area.
- Local Garage Sale Groups: Excellent for finding hidden gems.
- Passive: Place ads on Craigslist, Facebook Marketplace, and other platforms stating that you buy bikes. This approach will bring deals to you with minimal effort.
- Active: Actively search for deals and make offers. This method is more hands-on but yields the majority of deals. I often send super low offers to sellers and negotiate to secure the best prices.
- Phone or Laptop: For searching deals and communicating with sellers.
- Internet: Essential for online platforms and research.
- Car: Any car works; even a small one can transport most bikes.
- Water and Soap: For cleaning the bikes before resale.
- Camera or Phone: To take high-quality pictures for your listings.
- Find Deals: Look for motivated sellers on the platforms mentioned.
- Package the Bikes: Clean them, take great pictures, and write compelling descriptions.
- Sell at a Discount: Price the bikes below market value to attract multiple buyers and ensure a quick sale.
- A detailed manual
- Offer letters
- Sales ads
- Video training on inspection and more
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