Showing posts with label flipping. Show all posts
Showing posts with label flipping. Show all posts

Monday, December 30, 2019

Joe Rogan Podcast with Gary Vaynerchuk


I'll be honest, Joe Rogan was completely off my radar until this past spring.  Yeah, he's a podcast legend, but I've spent the last 11 years creating content, and consuming mostly business/marketing and news content.  So I wasn't looking for entertaining podcasts to listen to, I just didn't have the time.  Even when a friend talked about Rogan's podcasts back in April, I didn't bother listening. 

A couple months ago, I ran across an interview with Graham Hancock, talking about his new book, America Before.  It was really interesting, and I went looking for more interviews, more in depth stuff.  That's when I found Joe Rogan's podcast with Graham, which was amazing.  In it, they spoke of Randall Carson, and I listened to Joe's podcast with him.  So now I'm a Joe Rogan fan, he's smart, has a wild point of view and background, and just does really great interviews.

So when I stumbled across this podcast with Joe interviewing entrepreneur Gary Vaynerchuk in 2017, I had to listen to it.  This is fucking hilarious, gets really into some of Gary's thoughts and ideas, much deeper than the 100 pieces of content a day that Gary puts out.  And that's saying a lot.  If you're a Gary Vee fan, or just want to make more money, or maybe start or build your own business, watch/listen to this, it's freakin' awesome.

Sunday, June 9, 2019

My best and worst storage unit auction buy


I was hoping I could find a video of a Sleekcraft by Nescher 23 foot jet boat, like the one I bought at a storage unit auction in Huntington Beach in 2007.  This not only looks like the one I bought, this looks like the very same boat.  It's that close.  The exterior seats had some tears, but were in a lot better shape, but otherwise, this looks identical.  I looked at the timing of this video.  This, possibly, could be the exact boat I boat I bought, it looks that close.  Crazy

From 2003 to to 2007, I got stuck in the the taxi business.  I came out of full homelessness in 2003, got my driver's license straightened out, got my taxi permit again, and went from being a guy living in the bushes and working in a restaurant at a mall, to a taxi driver working 7 days a week and sleeping my cab.  I planned to save up for 4 or 5 months, and then rent a room in a decent apartment and get back on track. 

Unfortunately, a month after I got going again, the taxi company took out the old CB radios we used to communicate, and put in the new dispatch computers.  I had just got back in the swing of things, I figured out which nightclubs were best which nights, and was making about $400 week for two weeks straight.  Then, literally from one day to the next, our business dropped to almost nothing, because of the new technology.  I struggled, like every other driver, to pay $550 or 600 every week for my taxi, and pay another $300 a week in gas.  All I had after that was food money for quite a while.  12 hour days turned to 14, then 16, then 17 or 18 hours, six days a week, and only 8 or 9 hours on my "day off."  I got a cheap motel room one night a week, bought a pizza, watched a little TV, then slept for 12 hours straight and did it all over. 

I made a little extra money buying storage units at auctions, and reselling the stuff, but not enough to leave the taxi business.  By June of 2007, I was burned out, I was having serious health issues, and looking for an escape from the taxi business.  One day there was an auction at the place where I had my storage unit in Huntington Beach, California.  I parked my cab, and joined the other 15 people walking around to bid on units. 

In the parking area right below my second floor unit, was a boat, one full of clothes and random junk, that I'd walked by many times.  It was a big, weathered jet boat, with a little cabin area inside, under the piles of junk.  The boat was up for auction that day.  Bidding started at $5, and a homeless man, who I knew spent his days in a storage unit in that complex, and made a little money helping people move, bid $5.  Someone else bid $10.  $10 on a 20 foot + boat, sitting on a double axle trailer, with weather and time flattened tires.  It looked to be in decent condition, in a sea worthy sense, it just needed work to clean it up and probably get it running.  I couldn't fucking believe it, without thinking, I said, "C'mon people, it's a BOAT."  I bid $15.  The homeless guy bid $20.  I bid $25.  One of the guys standing there, not bidding, said, "The trailer alone is worth $1,000."  Another guy jumped in, and we bid back and forth, and I wound up buying the old boat for $95. 

Over the next few days, I took some photos, did some research, and tried to find someone who would buy it for $500 or $1,000, just for trailer.  I learned it was a 1978, 23 foot, Sleekcraft by Nescher, made by the premiere jet boat maker in the 1970's His company was later purchased by AMF sporting goods, and 2 or 3 years after that they split again.  The boat had an inboard Oldsmobile 455 engine, I didn't know if it worked.  There didn't seem to be any oil leaks, it just looked weathered.  My research showed that for $95, I bought a $22,000 boat and trailer that needed about $2,000 to $4,000 of work to get it back on the water, even if the engine needed to be rebuilt.  It would take another $3,000 or so to completely re-cover the seats and stuff.  By the time I figured that out, it was the beginning of July, 2007. 

The taxi business in Orange County sucked 9 months out of the year, but the summers were decent.  Working my standard 80-100 hours a week, I could make $350 to $400 a week in June and July, and maybe a bit more.  I spent a lot on food, but not much else.  In August, the best month, I could usually make $600 to $700 a week in my pocket.  With this info in mind, I formulated my plan. 

I paid $200 to rent the parking spot where the boat was parked, right outside my own storage unit.  I cleaned all the junk out of the boat, mostly clothes and random junk that people who were moving from units had dumped in it.  I cleaned the whole boat, and took some Armour All to the seats.  I used gaffer's tape to cover the rips in the seat for the time being.  It was a fucking cool boat, capable of over 60 mph, once running, and carrying 6 or 8 people.  I was happy with my purchase.

 I paid another $200 for the parking space in August, planning to pump of the tires, and find an friend in the desert somewhere who'd let me park it cheap, while I had a mechanic go over the engine, and a boat expert get everything else up and running, while I drove the cab all day.  My plan was to get it water ready, maybe take it out once of twice, and then put it up for sale for $16,000 to $18,000, and come down to maybe $12,000 to $14,000 for a quick sale.  That would be enough to get me away from taxi driving, and start doing the storage auction thing full time.  I thought I was finally about to escape the miserable life that taxi driving had become.  I actually liked driving a taxi, but the dispatch computers killed the industry, and worked us all into the ground, even before Uber and Lyft entered the picture. 

But business didn't pick up, in fact, August 2007 kinda sucked.  The only month a year I made decent money fizzled in to $300 weeks.  As it turned out, the first inklings of trouble in the stock market, what would eventually become the Great Recession, hit investors in August 2007, and apparently a lot of people I drove were day traders, or took a quit hit in their investments, and partying at the local bars and clubs dropped off dramatically.  So I never made enough to get the boat repaired.  I didn't have the contacts to find a partner to work with, and get it done.  I was working 80-100 hours a week, I didn't have time to mess with it.  I had to put those hours in just to survive as a taxi driver then. 

I went into the office of my storage place, I knew the lady there well, and told her the story.  She now knew it was a $22,000 boat sitting out there, if fully fixed up.  Rather than not pay the parking space rent for three months, she said I could sign the boat over to her, and she'd find a buyer, and get her parking space back.  So I did that.  The boat, MY $95 jet boat, was gone in a week.  So my biggest opportunity I ever bought while buying storage unit auctions ended up costing me $495.  That was the only time I ever lost money buying a storage unit at auction. 

Saturday, June 8, 2019

Gary Vaynerchuk's Trash Talk #5


It's spring time, and that means entrepreneur Gary Vaynerchuk is driving around New Jersey harassing deer, and snapping up garage sale deals on coffee mugs, stuffed animals, collectible toys, and whatever else looks flippable.  And you knew it was coming, limited edition Mug Life T-shirts are out.  #muglife.  Entertaining, informative, and inspiring, like usual. 

How my friend had a $1200 garage sale every year


I just picked a random garage sale picking video for this post.  But this couple scores some good finds here. I just needed a garage sale video to catch your attetnion.

In the mid 1990's I burned out, after spending five summers as a TV show crew guy on shows like American Gladiators.  It was pretty fun to work on, but I was sick of working on other people's goofy TV show ideas.  I wanted to work on my own ideas, but didn't have what it took to sell an idea and make it happen.  I went back to Huntington Beach, and wound up working as a furniture mover for a local company called Happy Movers.  Yeah, every freakin' morning we'd pull up in a big truck that said Happy Movers, and a woman would ask, "Are you guys happy?"  We'd say, "No ma'am, we're movers, it's an oxymoron."  Moving other people's furniture and crap is a hot, brutal, hard, torturous job.  I was without a strong direction at that point, so I just rolled with it.

Since we did mostly local moves, in and around Orange County, California, we had one big tractor trailer, and 7 or 8 bobtails, also known as box vans.  Our Class A, tractor trailer driver was a skinny guy, with longish rocker hair.  He was a really cool guy to work with, had a great sense of humor, and amazingly strong for how skinny he was.  It was Dan who showed me how he managed to have a $1200, one day garage sale every single year.  That one garage sale paid his and his wife's rent one month each year.

Here's how he did it.  When we would show up to move people's houses or apartments, people were stressed.  It's a big day for most people.  Suddenly people realize just how much junk they have, because they have to pack it all, we'd move it, and they they'd have to unpack it all, and reorganize in another house or apartment.  Since we moved at least one house, and sometimes two or three in a day (really, 3 a day), we ran into a lot of people who had stuff they just wanted to get rid of.  Sometimes they'd have us haul some junk to the dumpster for them.  Or maybe set it on the curb.  But often, people would say, "Can you guys get rid of this old washing machine for us?"  Since I lived in a small apartment, I usually turned it down.  But Dan and his wife rented a three bedroom house with a two car garage.  Dan would just put all those giveaway items against one wall, and leave them on the truck when he and his crew unloaded.  On the way back to our office, he'd stop by his house, unload the washer, refrigerator, end tables, or whatever people gave him.  If the wife liked it, it might wind up in the house.  But most of the stuff he just packed into the garage.

Then, at least once a year, they'd have a big garage sale.  He'd have four washing machines, five dryers, usually working.  He'd have two or three fridges.  He'd have 20 or 30 cabinets, coffee tables, end tables, and chairs.  He'd also have boxes of random little items he'd been given, everything from dozens of ballpoint pens to dishes, to knick knacks, antiques, and toasters.  Dan said the annual garage sale always brought in over $1100, usually it was in the $1200 to $1300 range.  This was back in the '96-'97.  Their rent was a little under $1200 a month, and so the sale paid a month's rent each year.  And everything they sold they got FOR FREE.

OK, most of you are not furniture movers.  But many of you reading this may be pickers and flippers.  So here's where you can profit form this idea.  First, if you want to find deals on furniture and appliances, contact your local furniture movers.  They get free stuff all the freakin' time, like Dan and I did.  Most movers just want some extra cash, they don't want to store stuff  like Dan.  Have them call you when they get a piece of furniture or something that's decent.  Meet up, they may even deliver it, and offer them an amount that will pay for their time and effort.  Movers will often sell a $200 piece of furniture,that they got for free, for $40 that day.  It's very little work, and like a tip for them.

A word of caution, DO NOT buy electronics, tools, jewelry or video games and small items from movers, there are a lot of thieves in that business, and you don't want to be buying stolen property.  Or, you can give movers you number, and have them call you when their cutomers are giving stuff away, and you met them on site, and maybe pay them $20 for the phone call.  Most movers would be down for that.

The other way to use this idea is if you're a picker, someone who buys stuff at thrift stores, auctions, garage sales or where ever, you wind up with a lot of low end items.  If you have the space, just store those items somewhere.  Put them aside for a few months, until there's a lot of that stuff.  Then have your own garage sale, or take the stuff to a flea market or swap meet.  You might be surprised with what you earn for the "leftover junk."

Back in 2006, I was trying to get away from the downward spiral of the taxi business.  But I was homeless and living in my taxi, working 80+ hours a week in the cab to survive.  I stumbled into buying units at storage unit auctions.  I rented a big 10' by 30' unit as my "warehouse," and I startee buying units, and selling the higher end items.  That left me with a lot of junk.  Garage sale type stuff.  So I had my own storage unit half full of random junk.  This was before storage unit auctions ever appeared on TV.  Things sold for much more reasonable prices back then.  In effect, I had collected the random stuff, like Dan the mover did.

One day, there was a storage unit auction at the place where my unit was.  About 12 buyer were there, but there were only two units were up for sale.  After the those two units were auctioned off, the buyers were disappointed.  I spoke up, "Hey everybody, I have a bunch of stuff in my personal unit I need to sell, anyone who wants, follow me, and I'll auction that stuff off.  Here's the thing, I had already sold enough from my buys to make money from the stuff I'd bought.  Everything I was auctioning off had been paid for, it was all free to me.  Mostly I just wanted to get rid of it.  So everyone checked the stuff out, and I auctioned it off myself.  I wound up getting $250 for my "leftover junk."  And it all got cleaned out that day.  That's about what I was making for 80 hours of taxi driving at the time.  I was happy to put $250 cash in my pocket for stuff I just wanted to get rid of. 

Thursday, June 6, 2019

Gary Vaynerchuk's Trash Talk #4


Gary Vaynerchuk, known for taking his family's liquor store from $3 million a year to $60 million a year with Google Adwords and a YouTube wine tasting channel.  Now he runs a $200 million digital agency, VaynerMedia.  He puts out a ton of content, and gives keynote speeches around the world, telling big business types they need to realize nobody watches TV commercials anymore. 

After a winter hiatus, Gary hits the spring 2019 New Jersey garage sale season, the first Trash Talk of this year, and scores big on Nerf guns, a vintage Jets jacket, some Zelda games, and more.  Yeah, he cusses a lot, but he makes some great finds. 

Gary Vaynerchuk's Trash Talk #3


Here's episode #3 of Trash Talk from multi-millionaire digital agency owner, Gary Vaynerchuk, and posse.  Stuffed animals (OK, "plush toys," that name just sounds so dumb to me) vintage coffee mugs, and Thomas the Train toys are some of the key finds this episode.  Gary goes back to his hustling roots in Jersey, bargaining for deals at garage sales, then reselling the stuff on Ebay for bigger bucks.  He's funny, entertaining, and he wants to show everyone who needs a side hustle how he did it back in the day. 

Monday, June 3, 2019

Wheelin' and dealin' is now "Flipping"- and it's still fun and profitable

 The toys above are half of a thrift store purchase that cost me $1.90 in Richmond, Virginia, at the Goodwill Outlet store, last fall.  Dumbo was from about 1975-1980, and sells for $12 or so on Ebay.  I paid about 20 cents.  Ernie was from 1980-85, and was selling for $6-$8 then.  Since I was homeless at the time, Ebay was difficult, without an address, a bank account, and a place to store these things.  I tried to sell them locally, on Facebook Marketplace and Craigslist, But had no takers.  I ended up giving them away.  Yes, I lost my $2 that time.  But the deals are out there, that's the point.

 Wheelin' and Dealin'
I'm a kid of the 1970's, my dad was what people called a "packrat" back then, what's called a "collector" on American Pickers, and what some people a hoarder now.  We didn't have the crazy hoarder houses you see on TV shows.  Even though we moved nearly every year our basements and garages were full of shelving units, boxes, and cabinets, all piled with pieces of machines, tools, gun parts, motorcycle parts, and random mechanical things, that my dad intended to fix or build, "some day."  Most of this stuff he either traded a friend for, or picked up at garage sales and gun shows.  So I tagged along with him, learning the fine art of "wheelin' and dealin' as people called it then.

Buying and selling was a hobby for my dad, and for most people into garage sales, back then.  The factories in Ohio, where we lived, and the whole country, were booming.  Most people made solid, Middle Class incomes, and making a living off of garage sales wasn't necessary.  But my dad nearly always made a little bit of money on his deals.  When my mom was a little short for food money or whatever, my dad would always tell her he'd try to "borrow $5 or $10" from somebody at work.  It wasn't until I was 14 that my dad told me all that "borrowed" money came from his gun money, well over $2,000, a few dollars at a time. 

Though my dad hated violence, he was an avid target shooter and gun owner.  Once I was about 8, he'd take me to gun shows, where he'd buy and sell guns, gun parts, reloading supplies, military surplus stuff, and whatever seemed interesting.  He taught me to walk the whole show, see what was there, and scout out what seemed like good deals.  He taught me to talk casually to people who had something he wanted to buy, and not seem to eager.  He taught me to walk away when they wouldn't come down to the price he wanted to pay.  That walking away, in a polite and friendly way, often was the trick that got the price to a decent level.  He also taught me to bundle a few things together at times, or add something in trade to sweeten a deal.

My favorite deal I saw him do was when friend, a guy from work, another avid gun owner, had a little suitcase with 30,000 pro gun bumper stickers.  Yes, I know a ton of people are anti-gun now, because of all the horrible mass shootings.  Those are terrible tragedies, and there is no easy answer to solve that issue.  But those incidents were rare when I was a kid, and target shooting was a common recreational sport, and many people in Ohio hunted as well. 

In any case, my dad paid $30 for the case of 30,000 bumper stickers when I was about 5 or 6 years old.  That's 1/10th of a cent each.  There were 6 different bumper stickers, and he had 5,000 of each.  For the next ten years, I watched my dad sell those stickers for $1 each, 1,000 times what he paid for each one.  I watched him add a few stickers to a deal to sweeten the pot.  He didn't try hard.  Bumper stickers were a natural trading item at gun shows.  Ultimately, my dad made well over $300 cash for his $30 investment, and got another $300 to $500 in trade, maybe more.  Then, with my mom sick of seeing that little case in the basement, he sold the case, and the 20,000 or so remaining stickers, to another guy, for $30.  Watching him milk that $30 investment for a decade, in my childhood, was a great lesson.

In today's world, the high paying factory jobs are mostly gone.  Tens of millions of people are struggling.  More important, we have the internet, computers, and smart phones, which offer a whole bunch of new ways to both buy an sell things, to a much, much wider audience.  Flipping, as wheelin' and dealin' is now called, and retail arbitrage (buying consumer goods at one store and selling somewhere else), is a huge industry.  Ebay, Amazon resellers, online stores, and all the other web platforms  and apps, have tens of millions of items, new and used, that people are buying cheap and reselling somewhere else. 

My own main experience in this was mostly from buying units at storage unit auctions, which I discovered accidentally in about 2005.  I tried to turn this into a business to escape the downward spiral of the taxi industry, and I did make money consistently.  But I was working 80 + hours a week in the cab, and I didn't make enough to make it a career.  The funny thing is, the Storage Wars TV show started a couple of years later, and Daryl, "The Gambler" on the show, is from Huntington Beach, where I lived, and he was at the first storage auction I ever went to .

This is a Snoopy/Peanuts colorform set, where you have the little, rubber, flat people inside, and you stick them on the background scene in some way.  This version, with the circle seal in the lower right corner, is the 35th anniversary remake of the original set.  I bought this for about 20 cents (paid by the pound) at a Goodwill outlet store.  These sell for $9-$10 on Ebay, and the 1972 originals sell for about $20.

I'll go into more detail in future posts on flipping ideas.  But here are some places you can buy items to flip: garage sales, thrift stores, auctions of all kinds, online auctions, Craigslist, and Chinese distributors like Alli Express.  

Here's where you can sell these items at a higher price (hopefully)- Ebay, a Shopify or other online store, your personal website, Facebook Marketplace, Let Go, Wallapop, the local flea market or swap meet, or Craigslist.  

You get the idea.  For more ideas on how to make some extra cash, or how to help get your own small business going, check out WPOS Kreative on Pinterest. 

Gary Vaynerchuk's Trash Talk #2


Mug life bitches!  No that's not a typo... MUG, not THUG.  America's favorite garage sale hunting multi-millionaire hits the driveways and garages of New Jersey on a rainy Saturday last fall (2018).  He finds the cheap coffee mugs, he scores big with Matchbox and Hot Wheels cars, stuffed animals ("plush toys" these days), and lands a huge collection of collectible Olympic pins.  All told, his $75 in garage sale finds turns into about a grand on Ebay.  Why does a guy who owns a $150 million a year digital agency do this?  To prove to everyone out there that hustling can make virtually anyone some cash.  He's a hustler from childhood.  #fliplife #garyvee Check out his content, it's everywhere.  Gary's entertaining, and gives you ideas on how to make some cash when you're starting out. 

Check out WPOS Kreative on Pinterest for more ideas on making money and building a small business in today's crazy world.

Sunday, June 2, 2019

Gary Vaynerchuk's Trash Talk #1


First of all, Gary Vayherchuk cusses a lot, or curses, as he says.  If that bothers you, don't watch this.

Why would a guy with a $150 million digital agency get filmed going to garage sales, and trying to get 50 cents off of a $1  coffee mug?  Some people would say hype or image.  Seriously, I consume a lot of his content.  He likes, maybe straight up loves, doing this shit.  He talks about it all the time in other videos, behind the scenes, business consulting sessions, and even keynote speeches.  Gary's entertaining, and this series of videos shows you something pretty much anyone can do to earn some extra money.  If you go really hardcore into it, you can make a living doing this type of thing. 

I've done this, at a small level, since taking a Magic Rub eraser my dad gave me (he got them free at work as a draftsman), cutting it into 8 little pieces, and selling each one for a dime.  That was in 2nd grade in Massillon, Ohio.  My dad was loved "wheeling and dealing," as we called it when I was a kid in the 70's, and I got the bug from him.  I've never done it full time, but I've made some money through my life doing "flipping," as it's now called.  I love these videos, as entertainment, inspiration, and as a money making how-to.  Maybe you will, too.  If you don't know, check out Gary's content, it's everywhere, @garyvee.  This is his first installment of Trash Talk, from last fall (2018).

Check out WPOS Kreative on Pinterest, or hit me up (Steve Emig, Lancaster, CA) on Facebook, and ask to join the WPOS Kreative FB group. 

Plywood Hood Brett Downs' age 53 compilation video

Brett Downs birthday is today.  Here's his compilation video from the last year of riding.  There were a few "WTF did he just do?...