How to make an extra $100-$5000/month

lpproject (37)in #money • 7 years ago (edited)

Years ago I bought a guitar half stack (Amp and Cab) and played it for well over a year. I bought it used for $1400, then sold it for $1600. Basically I was paid $200 to use it!

A friend of mine does the same strategy with BMW cars. He knows them well and buys them undervalued, uses them for a year or so, then sells them for at least the same money he paid, sometimes more. This way he always has a car that's in great shape, no issues with the engine, never needs repairs and even sometimes makes a bit of profit in the process.

In terms of making $100-$5000/month or even more, this same strategy can be applied, only don't buy the item to use it. The point would be to make a profit.

The strategy as briefly explained above is nothing new, it's very simple and surprisingly easy since you're leveraging platforms that bring buyers to you.

I suggest buying used undervalued products on Kijiji and sell them at a profit. Buy something for $500 that's undervalued (Because you've done your research) for example, sell it for $600. Repeat, repeat, repeat!

The important thing to remember is there really isn't a point in implementing this strategy in small items that are worth $100 or less. Sure you can make an extra $20 or so, but it really isn't worth your time. The power really comes when you buy things in the thousands. Musical instruments work really well like guitars, amps, etc. However, make sure you know the product! This is very important. That's how you can identify if a product is undervalued or not.

Camera equipment works well too.

If you take this strategy with items you know, you can make quite good returns in a fairly short amount of time!

Again, this isn't anything new, people have been doing this for years on ebay, but with the kijiji app, it makes it super easy to buy/sell items for a profit.

(Keep in mind this would be considered business income and you should be reporting your capital gains)

All the best and happy posting/commenting on Steemit!

Will

-Life Progression Project

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