The best way to to make money

The best way to to make money

This is step-by-step guide that focuses on a very specific niche for flipping.  There are thousands of other niches besides this one but they were purposely left out.  If the instructions are followed preciously, I guarantee that anyone following this guide can start making money fast.  Let’s get started.

Niche: Smartphones

Without a doubt the single most used device that everyone uses these days are smartphones.  It’s amazing to think only 10 years ago, there were no iPhones or any smart phones at all.  The wow phone of 2006 was the ultra thin Moto Razr.  It was silver and it did not have a color screen, it did not have internet capabilities, it could not email and it certainly did not have any mobile apps.   But obviously that’s all changed.  These days changing your iPhone or Android is as common as going to the dentist or calling Xfinity because your introduction rate is up.  Society is simply glued to smartphones due to all the snaps, posts, tweets, pins, replies and anything else I’ve missed.

I dare you to try to leave your phone off for a day, I double dare you!  Can’t do it huh?  Don’t worry you’re not alone.  I’m not going to start throwing out crazy numbers and statistics to impress you.  I think if you’re reading this blog post you get my point.  So is there any doubt that the devices that everyone is holding each and every day is one of the best and most profitable things you can flip for money?  Bingo!  Now you know why I’ve selected this niche.

How to Make Money Fast?  Fix and Flip

It amazes me how many people can live with a smartphone with a cracked screen.  I would probably replace mine the next day (I’m spoiled) but that’s just me.  I can’t remember when I started to pay attention to people’s phones in public places.  But ever since I did, I can’t tell you how many iPhones or Androids I’ve seen with the entire front screen cracked!  Seriously how do those people live like that???  I know there is no way they enjoy their phones but i’m also guessing since their phones are still working and plus it costs a mortgage payment to get a new one, they probably have no choice but to live with it.

So the first way to make money fast is by flipping cracked/broken screen phones.  This sounds like a complicated process but it’s really not.  If you take a look on Google, you’ll see countless instructions and videos posted teaching you step-by-step on how to replace cracked screens of any phone.

These are just three things I’ve found on Google within 5 mins.  There are pages upon pages on Google of how to fixing cracked screens of any phone you can think of.  If you search on YouTube you’ll also find equal amounts of video tutorials.

Now that you know how to fix cracked screens, your next move is to buy smartphones with cracked screens and replacement screens.  Remember you have to buy both of these cheap enough so that you can still make a profit afterwards when you try to flip the phone.  Ok so where do you look?  Is there some magical well people throw their broken phones into that you simply can jump in and grab?  Unfortunately not but there is eBay and it is almost as good.

As you can see from the eBay search, there are endless cracked iPhones for sale.  There are a couple things you need to watch out for.  One you want to avoid any auction where it says it has a BAD ESN or BAD IMEI.  These are phones where the carrier have basically disallowed them to be ever used again.  Usually in these cases its because the original owner reported the phone stolen and the carrier marked them bad.   So avoid these because obviously they are worth a lot less to a lot of people who won’t be able to use your phone on their carrier.

Second you want to avoid ones where the auction says the phone doesn’t power on or have any other serious issues.  Sure you can probably fix them but don’t complicate things.  You don’t want to try to tackle too many fixes where in the end you might not profit at all.  And you don’t want to be running in circles trying to fix piece by piece until it works.  You much rather spend your time finding more good phones with cracked screens to replace.

Lastly be careful with the titles of the auctions.  A lot of sellers are misleading with the title.  For example if your searching for “iphone 6s” make sure your checking out auctions that are for iphone 6s and not just 6.  There is a big difference in price.

Ok now that you know how to find cheap cracked smartphones for sale, the next thing is to find replacement screens.  There are a few places to find them.

Do The Math Before Buying Anything

Before you start buying cracked phones and replacement screens make sure you do the math and calculate your margins first.  Lets look at an iPhone 6 64GB example.

Sell Price

• Average buy it now price on eBay for a good condition iPhone 64GB is roughly around $425 dollars.
• Subtract off eBay fees (10%) = -$42.5
• Subtract off Paypal fees (3%) = -$12.75
• Total Sell Price = $369.75

Cost

• Average buy it now price on eBay for a cracked screen iPhone 64GB is roughly around $200 dollars.
• Average screen replacement kit is between $65 dollars.
• Shipping price is around $10 dollars.
• Total Cost = $275

Total Profit = $94.75

Not bad for a single flip. If you skip eBay and sell on Craigslist, you get $65.25 more!  But it also means that you have to deal with people face-to-face and you might not want to.  Regardless on how you sell, imagine doing 5 a month, that’s $500-$800 dollars of extra cash you’ve earned! How’s that for making money fast?! The potential is only limited by the time you have to fix phones. Of course this is just one example, there are hundreds of other phones that might sell for more profit.

Conclusion

So there you have it, a complete step-by-step guide on how to make money fast by flipping cracked smartphones.  Again this might sounds hard and fixing electronics might not be up your ally but it is a sure way to make money fast.  Also the more you do it, the better and faster you become which means you’ll be able to do more and make more.  If it takes you 2 hours to replace your first screen by the time you get to your 10th phone, you’ll be able to do it in 1/4 the time.  So that means whatever time you dedicate in a month at flipping cracked smartphones, you’ll be able to do 4x that rather easily within a few months.

Let me stress that this post is merely focusing on a very specific niche and a specific method at flipping.  Just with smartphones itself, there are numerous other ways to flip them.  These other opportunities might not be as abundant but the profits can be even more.   And with other niches, there are plenty of methods at flipping them as well.