Are you looking for easy extra income?
I’m not talking about $20 for who knows how many online surveys.
Think bigger returns.
Extra income sounds great to everyone but your time is better spent on some activities than others.
What I mean is there are countless opportunities to make money but they are not all worth it. It’s a matter of finding those activities that generate enough cash for the time and effort invested.
In my years of looking to quickly and easily make money, what I’m about to share with you has been amongst the most efficient methods with the highest return on my time invested.
I’m talking about finding things people no longer want and reselling them for more. Anytime I’ve wanted or needed extra income, this has been my go-to for quick easy access to cash.
The key to quickly getting the most out of your time is to find and resale the undervalued
What I mean by the undervalued are all those things which seem worthless based on their physical appearance but are still usable. They work but no one wants them because they look beat down or appear broken.
If you can afford to spend a little money, then the world is your oyster.
I once went to look at an old camp trailer I saw on Craigslist. It had years of grime built up on it and most people would have probably turned around the second they saw it.
I inspected it for 20 minutes to make sure the lights inside and out were working, that everything opened and closed, that the tires were in good condition, that it had a clean title and that it could be towed safely.
After checking it out, it was clear to me the only thing it needed was some TLC. I bought it for $600.
The following weekend, I cleaned it inside and out. That’s all it took to transform it from dumpster to camper. Don’t get me wrong, it was still old but I posted it on Craigslist and sold it for $2,000.
How does a profit of $1,400 for 3 days of work sound to you?
Now, I’m not going to lead you to believe that you can start buying and reselling campers. Maybe you can but I’m mechanically inclined and I appreciate that it may not be the case for you.
Back to making money finding and reselling the undervalued.
If I add up all my projects in the past 15 months, I’ve generated over $16,000 in profits (that’s cash straight in my pocket after all my costs).
- I usually spend anywhere from a couple of days to 4 weekends on one project
- I average at about one project per month
That puts me at roughly $1,000 in my pocket each month.
You can easily find projects which require little to no effort at all. I choose to put in a little extra time because it usually gets me more cash and I enjoy doing it.
More on making money with minimal effort later.
You might be wondering: “What if I don’t know and don’t want to know anything about mechanics?”
Not understanding or wanting to understand mechanics is NOT a deal breaker. It’s just one of the ways I choose to make extra money.
That doesn’t make it the only way.
I chose that path because I am passionate about learning, fixing things, taking them apart, understanding how they work and putting them back together. That doesn’t mean it’s how you have to do it too. There are countless other ways to make money on the undervalued.
The upside of choosing something you are passionate about is that not only will you enjoy yourself, you’ll also get extra income for doing something you love.
Doesn’t that sound better than an online survey that probably won’t cover the cost of your phone bill?
Think of what you are passionate about, what hobbies do you have, what skills or expertise can you transfer?
Maybe you love cycling?
You would probably have knowledge of the value of certain parts on a bicycle. From that, you can go to police auctions, look through repossessed bikes and see if any of them are selling for less than what you think they are worth (based on the parts on the bikes, your knowledge of the industry and their value).
Maybe you love collectibles or antiques? Go to flea markets, swap meets or garage sales.
Maybe you love snowboarding and you know everything there is to know about snowboards.
If you look a little, you’d be surprised by the number of things that people either:
- don’t see value in
- care too little about and want gone; or
- don’t know what they’re worth
Whatever fits into the above list is an opportunity for you to generate extra income.
Here are some of my favorite places to look for projects:
- Auctions (especially police auctions)
- Swap meets
- Flea markets
- Garage sales
What if I don’t have money to spend?
Not a problem!
Check out the Craigslist free section to get yourself started. You won’t believe the stuff that turns up on there and the best part is it’s absolutely FREE.
Value is in the eye of the beholder.
What one person might see as garbage, another will pay for. That’s where you come in. Take what people don’t want and sell it to those who do.
Are you looking to make money with minimal effort?
Earlier in this post, I recommended spending time on something you are passionate about because it makes you more likely to consistently do it. Not to mention boosting your quality of life both financially and in terms of overall happiness.
All though I’m big on seeking work which you are passionate about (and ultimately being happier), I appreciate that sometimes we just need money.
If that’s the case or maybe you can’t quite seem to figure out what you might be passionate about or what transferable knowledge you have, don’t sweat it!
There are opportunities for you!
In a nutshell, it narrows down to two options. Items are undervalued either because:
- they’re in need of TLC – this is where I choose most of my projects
- no one wants to put up with them or they don’t know their worth
The second option is where you’ll put in the least effort. No need to fix or clean; just purchase (or pick something out of Craigslist free section) and resell.
It doesn’t get much easier than that.
Final tips and advice
The key to making the most money is to see potential in things that most would not. To be able to picture a finished product out of something unwanted. It’s about finding that diamond in the rough. That thing that everyone else fails to see value in.
If you can master this, you will generate the most profit.
If you struggle to invest in the unwanted, that doesn’t mean you can’t earn extra income. You can easily make money off the Craigslist free section or find undervalued items in some niche you have an understanding of (like a hobby or passion).
Take a few minutes to think about what gets you excited, what are you passionate about?
What skills or knowledge do you have?
This will help you figure out where you can focus your efforts.
If you really want that extra income, believe me when I say, it’s sitting there waiting for you.
Question is, are you going to push yourself to do it?
Be determined! Don’t let yourself be tempted by the television or other distractions. The only thing sitting between you and extra income is yourself. It’s much easier than you think, so get out there and start finding yourself opportunities!
If you don’t think flipping is for you, there are plenty of other ways to generate extra income. Click here for more on finding a side hustle that suits you.
Get out there and get yourself more money!