The Double Challenge

The Experiment: Find a penny, and find a way to double it. Then keep on doubling until I have enough money to pay off my mortgage.

Wednesday, September 12, 2007

Find a buyer beforeYOU buy!

So I'm surfing the for sale forum on the intranet at my work and I find this hand held sewing machine listed for $20. I'm always worried if I will be able to make money on it or not, or if I will be stuck with it forever, so I hesitate to buy and often do not. THEN IT HITS ME! Why don't I advertise it on craigslist or something like that. If I get a buyer for a better price then I buy it if it is still available. If I don't find a buyer, or if it is already sold, then I simply don't buy it. Awesome! Well, I posted it and a few days later had a buyer who was offering $20. Crap. same price. So I tried to offer to buy it for $15 and ureka - they agree! So now I have an agreement to purchase it for $15 and sell it for $20. It's only $5, but every buck counts and this one was done without ANY worry (ok, not none... I could still get shafted if the person backs out of the deal). Awesome! I'm going to try and set up the purchase AND sale both for tomorrow. I love flipping!

Flip

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