What It's About
A flipping side hustle that's music to our ears!
Words of Wisdom
Reselling is a great side hustle option, but you want to do this with items that cost a decent amount so that you can walk away with profit.
To celebrate the first guitar sale she had, Mark got a new tattoo. It was of her favorite cat, Victor.
Notes from Chris
Episode 71329-year-old Daniella Flores is already a seasoned side hustler. She’s been doing it for years. It all started as a way to help her pay off her debt, but has since evolved to serve a greater purpose. That purpose is to live a more sustainable life, and eventually gain financial freedom. So, it came to no surprise when Daniella’s wife, Mark, began experimenting with a side hustle of her own. Mark has been in the music scene for years, and she especially loves guitars. In fact, she says it’s kind of an obsession. And, as a self-proclaimed “collector of things,” she ended up accumulating a lot of guitars through the years. We all know that life can have ups and downs financially. During one of the dry spells, Mark decided to sell some old guitars that she had bought, but had no use for anymore. This gave her the extra boost of cash she needed. As this went on, Mark realized that she could make even more money if she restored pieces of the guitars. With just a few fixes, like simply replacing a rusty screw and doing a quick paint job, the price could go up by 40%. This got her gears turning. What if she bought and flipped guitars as a side hustle? She already had plenty of inventory on hand, and it would give her an excuse to buy more guitars! This was perfect for her: Mark could buy a guitar she was interested in and enjoy it for a while. Then when she was ready to sell it, she could flip it and end up making money from the process. It was music to her ears. She started by selling some of the guitars that she already had. Then she began scouring websites like eBay and Craigslist. With her extensive knowledge of guitars and the music community, she had a pretty good idea of which ones would be high ticket items. For example, brands like Gibson and Fender are huge hits in the United States, since they’ve been in the country for over 100 years. Mark began flipping guitars a year and a half ago. As she’s learned how to fine tune her hustle, she now makes at least $1,500 from flipping guitars ... and that’s on a bad month. She makes $3,000 or more on a good one, which are usually around the holidays or in the summer, when people are wanting to pick up a new hobby. Mark also says that there is no “trick” for what she’s doing. She says that it takes research and asking yourself how you can be competitive in a market. Like all side hustles, it’s necessary to find out what people are willing to pay for the product and how much your time is worth. As her hustle grows, she and Daniella are excited to see what progress will occur this holiday season. Both of them now have side hustles that are bringing in $2,000 or more a month. It looks like this couple struck the right chord.
MENTIONED IN THIS EPISODE:
- Reverb | Mackenzie's Gear: If you're interested in seeing what Mark is hustling at the moment, head on over to her Reverb and eBay pages!
- How We Make Extra Money From Flipping Items On eBay: There's also a great resource for would-be flippers over on Daniella's blog, Iliketodabble
- Six-Figure Sneakers: College Grad Earns $10,000/Month Reselling Shoes: While waiting tables, a recent college grad discovers the world of “sneakerheads.” He then learns to buy and resell shoes, earning a six-figure income and quitting his job within a year
- Accountant Earns $233,751 Reselling Items He Buys at Walmart: A young accountant learns the art of reselling, purchasing textbooks, dental floss, and Cheerios from retail stores in bulk—then earns hundreds of thousands of dollars in profit by selling it online
- Flipping 101: The College Textbook Edition: A college student with a new family to support reads between the lines and turns a $20 used textbook into almost $70,000 within two years. This episode will flip your lid!
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