As I said in my last post, I’ll be making $3,000 over a period of 30 days, and I’m going to share every technique I use here, right on this blog. Casey’s Corner (like the new name?) will be providing you with some of the simplest, yet most effective ways to make money on the internet. Let’s get started!
What Am I Going To Buy (to Resell)?
This is the fun part. I get a huge kick out of finding deals online. I never want to pay even a sale price, much less MSRP. I want to find things even cheaper. It’s possible, but it takes a bit of digging. The digging would be a lot easier if someone else found the deals, and you just had to find the ones you like, right? Well guess what – you’re in luck!
To start your hunt, visit a site that allows users to post deals, such as SlickDeals or FatWallet. I prefer SlickDeals because their layout is much nicer, but both sites have plenty to offer. Hit up one of those websites and find a product you know a little bit about. I’ll use a technology product for this example, as I know a good bit about technology and its pricing structure.
My general rule is to find a product that has a bigger initial discount than the average. For example, let’s look at 2TB external hard drives on NewEgg. You’ll find that most of them on sale have either a 20% or $20 discount in price. My goal is to find a product with something better than that (and free shipping is a must).
How Am I Going To Buy It?
Let’s take the Seagate FreeAgent 2TB hard drive, for example. It normally sells for $99 on Newegg. If you add it to your cart, you see the price drops down to $79. That’s only $20 cheaper, and that’s against my rules, right? Well that’s not the end of the story.
Staples does price-matching for almost everything in their inventory. If you buy this same drive at Staples, you’ll notice that it costs $139. Staples offers free shipping on everything over $50. Also, it’s FAST. On top of that, there’s a super secret club online that sells $25 off $75, $25 off $100, and more coupons for Staples. The $25 off $75 coupon costs $0.35. (Want to know where to find them?)
First, sign up for ebates. Search for Staples on the ebates website, and click the “Shop Now” button. Once you get a hold of one of these $25 off $75 coupons, apply it to your Staples order, bringing it to $114. Place your order. Fire up a live chat, provide your order number and the link to the $79 Seagate on NewEgg, and ask the representative to price-match your order.
The rep will verify the link and credit you the difference in price ($139-$79=$60). This takes your previous total, $114, down to $54. Tax in my state comes out to about $4.50, taking the total up to $59.50. ebates gives 3% cashback for Staples purchases, so depending on whether they credit the cashback to the $59 total or the $114 (+$9 tax) total, you’ll get either $1.77 or $3.69 in cashback. Let’s round it to $2. Your new total is about $57.50.
How Am I Going To Sell It?
This hard drive is currently going for between $95 and $125 on ebay. If you sell it on craigslist instead though, you won’t have to deal with shipping, ebay, or PayPal fees. Listing a product on craigslist is one of the easiest things you’ll ever do. (I’ll write a post on how to do this in the future.)
List the drive on craigslist for $100. Decide how much profit you want to make. I want to make $30 at a minimum, so I would accept an offer of $90. Maybe even $85. Wait for the emails to roll in, and sell that hard drive!
Rinse, Lather, Repeat
The cool thing about this is that you don’t have to stop at one. You could get five hard drives. Imagine making $30 a piece, times five. That’s $150 in profit for a small input effort. You can also use this technique for other products. I prefer to find products that Staples can price-match, so that I can get the extra $25 off $75, further sweetening the deal.
Questions? Fire away! Do you have an even better idea? Let’s hear it! I’m here to help, and I’ve also started writing an informational book on how to make a living online. Hit the “RSS Subscribe” button for updates on this and other unique techniques.