Money Idea #6: Turn Hot Deals to Cold Cash

By | May 2, 2005

When I was in college, I was hooked on hot deal websites and I blew a lot of money on it. Sometimes I would have to buy multiple items to use a dollar off couple. Then I would end up with stuff I don’t need. Eventually, I figure out I could sell some of the stuff I bought for a small profit. The biggest profit margins I get are the free-after-rebate products. Say, I picked up a $40 software and send in a $40 rebate, I would end up getting the product for free. Then I would sell it on a forum or ebay for like $5 or $10. The profit margin was off course huge, like infinity!!, but the actually profits and time spent was not alway so worth it.

If you look carefully on the hot deals, sometimes you can get pretty good deals on products that has a lot of demand. One product that I used to buy often was routers. Sometimes they have rebates for them, making the price really hot. I could get a $50 router for $20 after rebate and sell it on a forum or ebay for $40.

I did follow this money-making idea for a while during college, so it has been proven. I wasn’t so aggressive and I was picky so I didn’t earn too much. I only picked products that I would keep if they doesn’t sell and I would only sell one or two items at a time. The risk for me was relatively safe as I spent on average of $20 or less per product and I sold them out pretty quickly. I made about $1000 in a year’s time. Afterwards, I got tired of packaging items and going to the post office. Actually, I was okay with packaging items, but I hated to go to the post office because it was so out of my way.

4 thoughts on “Money Idea #6: Turn Hot Deals to Cold Cash

  1. jim

    This is a great idea, I used to do this in college too. It was easy money back then too, deals are a little harder to get now a days.

    Reply
  2. Neville

    I read an online book called “1,000 Ways to Make Money” by Wayne Yeager. You probably will not think twice about half the ideas in there, but reading it certainly gets your mind jogging.

    -Nev

    Reply
  3. Ray

    I found the best ways to make money on hot deals was to buy in bulk, and then sell the inventory at profit.

    If I was lucky enough to find something that was OOS, meaning Out of Stock and I could purchase a large quantity that I knew had value, even if I had to sell it over a number of months, then I would purchase it.

    For example one time I purchased some XM portable home satellite systems that plugged into your home PC. I was able to purchase the units at a cost of around $85 each. I then sold them at a cost of around $155. I was able to purchase around 18 of them, and these items were in high demand.

    It took me 6 months to sell all of them, but I almost doubled my initial investment.

    If you can buy in bulk and look for items which have high liquidity so you can move them even if the price goes down.

    Reply

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