How to get started on eBay with as little as $1?

This weekend was really good. We were busy, got a lot accomplished and had some good recreating time as well. After quick trip to Alabama, a visit with the in-laws, kiddy carnivals and motion sickness we ventured back to Tennessee and got 40 items listed to eBay. We then kicked back for the 4-1/2 hour lost Finale...and it didn't disappoint. Many pontificators will nit-pick little things about the show, but I just like to hear a good story and you cant argue that LOST as a whole was not a good story, great even. I loved it and am looking forward to re-watching the entire 120 episodes over the next few months.

On to eBay....

I get a lot of questions about what I do. How I do it. But most of the questions are "How can I do what your doing?" types of questions. Most people see the larger ticket items that are sold in my store or on this BLOG and think you have to have lots of money to get into this type of thing. The whole "Gotta have money to make money" adage is usually recited. 

That couldn't be farther from the truth.

So from time to time I like to show you some really inexpensive items that we buy and what they sold for. The purpose of doing this is to show you that you can start with as little as $1. You can literally pickup free stuff off of Craigslist and make a profit. Anyone in this country has the opportunity to do this and make money at it. It is not terribly difficult. Its a fairly simple concept. 

Here is the model:

Pay $1...sell it for $10. 

Pay $10...sell it for $25. 

Pay $25...sell it for $65. 

Pay $65...sell it for $125.

Pay $125...sell it for $200

Pay $200...sell it for $325

Pat $325...sell it for $575

Pay $575...sell it for $900

Pay $900...sell it for $1700

Pay $1700...sell it for $2800

Pay $2800...sell it for $4300

Pay $4300...sell it for $7500

Pay $7500...sell it for $10,000

(And Repeat until satisfied)

See yesterday's BHAG Update for a real life example of how this works and what it looks like.

What most people want to do though is look at the guy that is at the $1700 step and say, "Well I don't have that much money to get started." The thing is though, you don't need that much. In fact most people, if they tried to start with that much money, would screw it up! 

When you start slow and with next to no money, you learn all your lessons a lot easier. After all, if you lose one dollar, its not that big of a deal. If your are at the $120 stage and you loose $20, its not that big of a deal. In fact, it was all profit anyway.

I'll write more about this start up process at a later time. Here are some recent items we have bought for as little as $1 that did not turn huge profits, but they slowly compound on one-another to build something greater:

We Paid: $1

We Paid: $1

We Paid: $1

We Paid: $2

..