Rob & Melissa Stephenson from Flea Market Flipper talk about the flip that turned $100 into $2,000.
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Reseller Hangout Podcast – Rob & Melissa on Turning $100 to $2,000 In 12 Hours
Rob: What's up, guys? On today's episode, we are talking about a flip that turned a hundred dollars into $2,000 in 12 hours.
Rob: So flip of the week, super excited this week, we turned a hundred dollars into $2,000 and the best part it was in 12 hours.
Melissa: So this was only listed for 12 hours before it sold. And we were told, cuz we posted this when we found it that it would never sell because it's so old.
Rob: So we love those comments.
People do not think we can sell the items for what we sell 'em for. This was proof of one of the flips, that we just recently picked up and we did it. So you guys might be saying, what the heck is it? I wanna know. Just a second.
Melissa: So what is it?
Rob: It is a double oven, a Jenn-Air double oven. We picked it up on our road trip just a couple weeks ago, got back and I just got it posted a couple nights ago, woke up the next morning and the bad boy sold. So super, super excited about that. Plus we only paid a hundred dollars for it. And then we sold it for $2,000. Love those ROIs, for sure.
Melissa: And so where did we, this was on a road trip. We were in Utah when you picked that one up?
Rob: I'm not a hundred percent sure.
Melissa: It was, I can't remember where we were. Yeah, it was somewhere out west yeah, where we found this one. And you found it on marketplace.
Rob: I think it was Marketplace.
Melissa: Because you also tried to align picking up another item at the same time.
Yeah. Or right around the same time. And they were not far from each, I think they were 30 minutes from each other if I remember correctly.
Rob: Yep. This was actually where we got the double oven. And then we also got two of the turbo chef ovens and they were 30 minutes apart from each other. So, super, super excited about snagging in both of these.
We got another one of these that I just posted recently, not the double oven, but another one with it. That was a cooktop, a 47 inch gas cooktop, that we got at the same place. So that one's posted, we'll see if it ends up selling quickly. But yeah, super, super excited about these flips for sure.
Melissa: Yeah. And you actually had to uninstall these from where they were at. Right?
Rob: I did. I did.
Melissa: So we got to the place and he is like, or he did you already know that they were, you needed to uninstall?
Rob: Yes, I did.
Melissa: So he brought, we have tools with us. He always brings whatever we need to so.
Rob: On the road trip. Yeah.
Melissa: Unhooked it from the wall, pulled it out. Just used a dolly to get it out.
Rob: Right. The dolly.
Melissa: Wasn't super heavy.
Rob: Nope. I think it was four screws holding it in. So we pulled the screws out. I undid the wires, the wire was cut off to the house, undid the wires and pulled the thing out and then just took it out on the dolly right to the trailer and put it in the trailer.
So not a huge ordeal, not that much different than a normal pickup. Somebody usually has it in the garage. You go and take your dolly wheel it out to the trailer and put it in the trailer. But for the most part, yeah, it was pretty pretty, self explanatory, calm. We did it. And the best part, like I said, ever, and this doesn't always happen.
I love the fast sales. So when somebody goes on there, they see what they want. They buy it quickly once it's listed, yeah, super, super excited about that.
Melissa: So, and a lot of people wondering, well, why did, why did it sell for like, why did you get it for so cheap? And a lot of times like this person was, they were about to demolish the house that it was in, I think.
Right?
Rob: Yeah.
Melissa: Or they were whatever they're yeah redoing it. I think.
Rob: They built another house and yeah, it was getting demolished. And so they needed to get rid of it.
Melissa: They needed all the stuff out. And so that's when we come in, we come and get it at a good price, because they just want it gone. And a lot of times people aren't willing to ship them.
And that's where the money is made is in the shipping. So we will ship them anywhere.
Rob: Absolutely. And yeah, if I would've listed this local, I would've sat on it for years and never been able to sell it locally. So that's one of those things when you get it to the right people in the right market that are looking for it, that's where the money is there.
And, this oven probably, I mean, yeah, this double oven probably retailed, I don't in the neighborhood of, and it's probably 20 or 30 years old, but it, I would say retailed in an area of $5,000 to $7,000 when it was new. So somebody had the opportunity to get it for $2,000 and it still is in beautiful condition.
That is another caveat that I will add to this is I spent some time cleaning this thing. It was not a, hey, I picked it up. I brought it back and you know, I threw a couple pictures on there and I did it. I cleaned it, spent some time cleaning it. It took me a little bit of time to get the grind, the grit, all the bad stuff.
It took me some time to get all that stuff out of it, to make it really, really presentable. And I'll encourage you guys to do the same for the items that you're selling. No oven grease. Try to put that elbow grease in them. Try to get them as beautiful, as possible as looking, but don't over promise.
Make sure you're telling people it is a used oven. It might have scratches or scuffs on it. Please expect a used item. This is not brand spanking new, because that's how we sell everything as well. So that's one of those things that we did, but it did take me a little bit of time. I probably spent two hours cleaning the sucker up, getting it ready for pictures.
And then, yeah, that was the only other time that we really had into it other than the sale.
Melissa: You like to take a video for the listing.
Rob: I do. And that's something that I feel like has really boosted our sales is doing the video, to help people see that it is working. So we always do that on our, go the extra mile on our appliances as well.
Melissa: So I have a question that a lot of people have is so, but it's so old. How is it still selling? They're so old.
Rob: So. They built appliances back in the day better than they build them now, for sure. So, this is a classic look, it's a stainless steel double oven, a great brand. It's just a very, very nice piece of equipment.
And if it looks good, it looks like it was taken care of, they will last they'll last forever. You can, you can get a lot, a lot of years out of these things. And like I said, they're just timeless. They look beautiful in kitchens.
Melissa: So they're, don't build stuff like they used to.
Rob: No, absolutely.
Melissa: Things nowadays you have to replace them right away and. I don't know, some people just love, their, the old thing that they used to have.
Rob: Yeah.
Melissa: And also the fact that they just last forever.
Rob: Yeah.
Melissa: So that they know they probably don't offer to replace it for a while.
Rob: So, yeah. And this thing does not have a lot of electronics on it.
It's got four button or four knobs on it. One of those knobs could go bad. You could replace it, anything like that. And then it's got one control panel. That's just a small readout. It's got the clock. It's got one knob. Left controls the clock, right controls the timer. It's one of those things that it's very, very basic, but it, like I said, it looks beautiful.
It's a nice, it's a nice, nice oven.
Melissa: Less that can break. So all that stuff on the new stuff is, can, can break a lot more often.
Rob: Absolutely. So, yeah. So you guys might be wondering, okay, well, how do I do this Rob and Melissa? How do I jump on and take advantage of this? Guys, we put together a sweet course called the high profit appliance flipping course.
So if you guys wanna check it out, please, Melissa will put the link below.
Melissa: It's also applianceflipping course.com. And what's funny is he was even doing, using this training that, that he just sold to take videos for the course and show how to do the cleaning, do the testing listing and the testing of this to put in the course.
And before you even got it uploaded, it had sold. So that was pretty, pretty fun.
Rob: So this is one of the videos or multiple videos that will be in the course trainings is what we did with this oven. So, if you guys wanna check it out awesome. We told you.
Melissa: Yeah, you can make $500, $1,000, $2,000 on one appliance.
It's so I don't know. That's where we've gravitated towards.
Rob: Yeah.
Melissa: We realize that's where we make the most money, the most consistent money. And yeah, just appliances have been really good for us. And we wanna help you make those higher profit flips.
Rob: Absolutely. Cuz it is possible. You guys can do the same exact thing, so.
All right. You guys rock. Thank you for your time. Thanks for listening to us. You guys have an amazing day and we'll see you guys on the next episode.