Episode 72: Flipping Frugally

Episode 72: Flipping Frugally

When it comes to side hustles, flipping is certainly one to consider! Flipping does require a keen eye and some occasional DIY skills, but can be a great way to earn some extra cash and fulfill some of those ‘shopping urges’! On this episode we explore the best places to buy, sell, and what to look for to get the best return on your money!

ANNOUNCEMENT: Frugal Friends Meet Up TOMORROW in Washington DC, Sept 7 @ 5:30 at Kalorama Park

Sponsors:

Rakuten: We love and use Rakuten all the time so we wanted to give them a shout out. If you’ve never used it, Rakuten is a shopping portal where you can get cash-back on purchases from your favorite stores. We use it for Groupon, Amazon, Walmart, travel sites and more. And, if you haven’t tried Rakuten yet we’ve got a $10 welcome bonus for you on your first purchase of $25 or more when you sign up through frugalfriendspodcast.com/rakuten

Buying and Selling: The trick with this sponsor is the selling part. Most of us can get on board with buying – but the payoff comes from selling that thing or something else at a greater amount than your purchase. This comes in handy when trying to avoid hoarding, when attempting your hand at a side hustle, or when trying to get your spouse off your back about all hobby equipment you’re purchasing – ‘don’t worry babe – I’m selling other stuff’ – buying AND selling saving marriages and bank accounts since the beginning!

Notable Notes:

What the Internet has to say:
This article from Online Selling Experiment gives us a run-down of all the places to find cheap or inexpensive items that could be flipped!

What Jen + Jill have to say:
These are the best places to find inexpensive items:

Where to sell:

Something we love about flipping is you can start at any price point; any amount of investment can work!

Try out a “flipping challenge” – start with 5 things you already own to sell for ‘seed money” and go from there

PITFALLS:

  • Hoarding
  • Things not being worth what you thought
  • Time investment
  • Not selling/losing money
  • Liking the thing you picked up and never selling…
    Best places to find used items to flip
    Best places to sell
    Must also figure out how much something is worth

More from the Internet:
This article from I Like To Dabble outlines the easiest items to flip and what to look for when buying and selling

More from Jen + Jill:
Things to consider when flipping:

  • The quality of the item
  • The current market price on eBay – and what they are actually selling for
  • How much it will cost you to purchase the item vs. how much you can sell it for
  • How will you package and ship the item?
  • Are there any additional fees involved if you are selling on an app?

Items to flip:

  • Designer brands
  • Collectibles
  • Records
  • Furniture
  • Board games
  • Video games and consoles

BILL OF THE WEEK – Thanks Kristy for sharing your your bill with us! We love learning about your rescue “Willy”! Thanks for calling in from Austrailia!

  • If you want to submit your bill of the week visit frugalfriendspodcast.com/bill to leave us a bill

Lightning Round
Our flipping fails and triumphs:
Jen:

  • Fail- RV
  • Win – Bedroom set

Jill :

  • Fail – hutch, boat
  • Wins – coffee tables (multiple!), dishes/kitchenware (porch pock-up), RV

Check out this course from Flea Market Flipper if interested in pursuing this as a side huslte!

Frugal Friends Book Club:
It’s September and this month’s frugal book club book is The Minimalist Home by Joshua Becker!

  • If you want a free copy, leave us a review on iTunes or Stitcher, screenshot the review and send it to frugalfriendspodcast@gmail.com. We’ll select the winners at the end of the month.

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