GM, SideNerds! 💼💰

Today we’re looking at a side hustle that’s been hiding under your nose the whole time. No, you can’t make a killin’ on this one by sitting in your living room, but an extra $8K/month doesn’t sound too bad, now does it? 

There are side hustlers out there who have ventured into appliance flipping and are reaping the benefits - and you can too. 

Here’s how 👇

Why Appliance Flipping?

Appliance flipping is an attractive side hustle for a plethora of reasons: 

• Urgency: People go looking for appliances because their old one is busted. In other words, there is an urgency to buy which gives you leverage.  

• Easier Negotiations: Appliance flipping tends to entail less haggling as most folks aren’t sure what used appliances are supposed to cost in this space.

• Less Competition: Appliances are usually on the heavy side, which is a good thing. It eliminates a lot of competition as many people don’t want to deal with bulky items. This is the kind of side hustle where you’ll need you a truck and not mind doing some heavy lifting.

What You Need to Get Started

Appliance flipping isn’t difficult per se, but you’re going to have to get your hands dirty by doing a few things:  

• Your New Best Friend: Get a van or truck to help with the items you’ll be transporting daily.

• Get Familiar with Craigslist and Facebook: This is where you’ll meet folks with tons of items that need fixing. In some cases, people will give away stuff for free (one man’s junk is another man’s inventory). 

• Appliance Dolly: Use this to lift heavy items. A lot of sales will come from folks who don’t have a big enough vehicle to pick up and move appliances (this is a good opportunity to throw in delivery charges depending on how you build out your business). 

• Someplace to Work: If you don’t have a gaarage at home, consider renting a storage unit to store and repair. 

• Copper Wire Stripper: If you plan on scrapping appliances to strip them of good parts and copper, a wire stripper will come in handy.

Where to Get Appliances?

There are a few sources you’ll want to check out to get your hands on some good items. Some of which are right under your nose: 

• Customers: Ask customers to trade in old appliances when you sell them a refurbished one. 

• Craigslist/Facebook Marketplace: You won’t believe how many awesome items are floating around the site just because the owners can’t be bothered with fixing them. 

• The Side of the Street: You read that right.  Sometimes you’ll come across items sitting on the side of the street. Some of them aren’t even in that bad a shape. This is great as you’d have invested $0 into them and can use them as a test run when just getting started. Should the sale go badly, you wouldn’t have lost out on much. 

• Universities: Think large facilities in general i.e. apartment complexes. Some of these places let go of a dorm’s worth of used items for $300. The price might sound similar to what you’d pay anyway, but the real value is in the quality. Many of these appliances won’t require more than a good ole cleaning. 

Where to Find Parts?

Finding the necessary parts will be a crucial part of your business. Luckily, it’s pretty straightforward. 

Check out repairclinic.com to get your hands on the relevant parts. The site also has repair videos and a search bar to enter the model number. It then generates a list of part numbers for that particular item. Feel free to order the part from them or head on over to Amazon; the latter usually has it a bit cheaper. 

How Make Money Flipping Appliances

Create a Lane 

One of the best Appliance Flippers we found, went out of his way to focus on flipping broken items. This worked out for him because the items were acquired for very little, fixed easily and quickly, and sold for a good profit. Because of this he focused only on broken items and grew his business exponentially. Keep in mind, this model may not work for you. The point is to figure out what does, then kick into action and rinse and repeat. 

Show Out At Trade Shows And Events 

Start by researching shows that will be taking place in your area. Afterwards, take the necessary steps to prepare to sell yourself and your items once the event rolls around; this can look like printing business cards and other marketing materials like brochures. Prepare specific inventory that will attract more potential customers. 

This is also a great opportunity to get valuable contacts and potentially grow your customer base through mediums like email. 

Reach out to Local Businesses

Consider what local businesses would be compatible with your side hustle. These can be anything from interior designers to appliance repair services (the latter will provide opportunities to tap into their customer base). 

If you live in a small town, all the better. You’re probably on good terms with some of these business owners already. If that’s not the case, don’t be intimated. If you followed all the steps we’ve outlined earlier, all that’s left is to pitch your business to them.

Final Tip - Time is money 

Prioritize items that can be fixed in 30 minutes or less. The less time you spend repairing, the more time you spend making a profit. 

Check out Gabe who uses this exact model to average $8,000/month. He even explains in detail how he’s able to double that profit during tax return season.