What It's About
Today's caller wants to take their reselling skills to a whole new level.
Notes from Chris
Episode 1856
Keep the creative ideas coming! Yesterday we heard about airline elite status … today brings something new. When we talk about arbitrage, we’re not usually talking about agricultural products—but this listener is! Can they buy almonds in California and oranges in Florida, and then sell each one in the opposite state?? Sounds fun, but as you imagine, it also sounds like a lot of work…"I've always been interested in the concept of arbitrage, especially when you buy something and immediately resell it at a higher price without holding onto any inventory. These days there are lots of opportunities for digital arbitrage with cryptocurrency and NFTs, but those seem risky to me. I'd like to do it with old-school agriculture products, as in actual commodities like almonds from California or oranges from Florida. Instead of just trading commodities on a stock exchange, I want to actually buy the almonds or whatever. It might sound difficult, but I've heard of people making tens of thousands of dollars doing this with Christmas trees, so I figure there have to be other markets. What are the risks and opportunities here, and how can I learn more?"Listen to today's episode to learn more...
SEE ALSO:
- Lifelong Toy Car Fan Becomes Mega Dealer: A chance encounter at a funeral leads to a second act reselling vintage toy cars.
- Sports Cards Trading Hobby Becomes Pandemic Payday: When a perennial side hustler reconnects with his childhood hobby of sports trading cards, he brings in more than $20,000.
- Store Manager Makes Micro Gainz For Macro Profits: When a grocery store manager hits a weightlifting plateau, he creates and sells micro weight plates through hard work and heavy lifting.
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