Well I have kind of stumbled on a pretty good way to make money. I have only bought and sold three things but I think it is working. I have in a since flipped furniture. Well the first thing I had to do was get storage for the furniture. I choose a location that I thought was good because it was central to the county I live. It was a big unit I think 10'x20' drive-up open till 9PM for ~$250 for 2 months (California). After getting the storage unit I needed a way to transport the furniture. I choose to get a hitch on my honda accord 2006 and pull a trailer which I rented from uhual for ~$20. I really didn't want to rent a truck because it's ~$20 and $.49 per mile (crazy money). The first deal I bought was a bedroom set from a guy on craigslist. I thought I would buy it for $150 (asking price) but the guy was so happy I didn't haggle him he gave it to me for $100 (wierd)! It kind of sucked getting it into the trailer because he was on the second floor and far from where I parked. I learned that you always should have a four-wheeler to put it on (sooo stupid not to). Then I brought it to the storage unit and had my wife help me put it in. It was late so I had to drive back to clean and take pictures of the furniture the next day. I used furniture cleaners to clean everything and put window cleaner on the mirrors. I took a wide shot of everything and then a shot of close up nice details like the mirror and flower engraving.
After that I posted it on craigslist every couple of days and sold it in about a week and a half. I had to drive out to the storage twice once to show and another for them to pickup. I had $350 on craigslist but she offered and I accepted $300. Well I learned a lot from my first experience. First and foremost is have storage near you. I really regret that I got storage so far from where I live I cannot even tell you. No amount of money will pay for having storage close to where you live. Another thing is that renting a trailer from uhual adds up and wastes a lot of time. I spent time driving to the uhual and then more time about 30 minutes signing documents. I have recently bought a 4'x8' trailer that folds up for $200 off of craigslist with all docs included. I just kept looking on craigslist. Had to drive far for it but it was so worth it. Schedule pickup dates of furniture on the weekend and NOT after your real job during the weekdays. Early in the morning is great because there is little traffic and you'll have all day to do other things like be with your family. I really want to get a small pickup truck so that I can get a bigger trailer when I need to pickup 4 sets of furniture in one day. But that costs a lot and it is probably better to keep it slow for now. Make sure your storage unit is a drive up. It is so quick to unload everything if it is.
People trip out when I tell them what I do. They cannot understand how I can use the same site to buy and sell the same item. Well I think it is the fact people want their furniture gone most of the time and want a little money if they can get it. Most of the furniture I get now they ask $300-$400 and I ask them if they are welling to sell for $100-$150. If they really need the furniture gone because they are moving or they need their stuff out of storage, they will sell it to you. I think being the first to see and respond has a big effect on them selling it to you. At my full time job I am at the computer all day so I constantly look at craigslist (RSS feed is great) for nice furniture. I email a lot of people just asking if they will sell lower. I always include the url address in the email so when they respond I know what they heck they are talking about.
Well if anyone has done this or can give me any tips that would be great. NO taxes is great to .