Flipping from an iPhone 6S to an iPhone 8 Plus...For Free
Last week, I saw an ad on Facebook Marketplace for an iPad Pro. This was a real deal. 10.5”, 64GB cellular and it came with a SMART COVER and Apple Pencil. I had sold one just like it to a friend, on the cheap earlier that week.
See, if you hang with me, all my friends say you can get great used tech at a steal on account of me always flipping stuff, haha.
Anyhow, I paid like $300 for this. The guy was just giving it away. BAM sold it on Marketplace for $650. After fees and shipping, I made about $350 in profit. I put the original $300 back in my bank account and now I am playing on house money ($350).
I found a cool pawn shop phone, it was an iPhone 6S for $180. Sold it the next day on the marketplace at $240 (+60, new total = $410).
So I then took that $335 and bought an iPhone 6S plus (rose gold) for $250 and sold it for $300 same day (+50 profit). If you’re keeping track, I am now at $460 profit (that house money).
My goal in all of this was to flip from a $180 pawn shop phone to an iPhone 8 Plus. I was close. Retail, an iPhone 8 Plus 64GB is about $749. On the used market, they go for $550 - $650.
I was close.
Close the Deal
I saw a listing on Marketplace for an unlocked, iPhone 8 Plus for $550. I asked the guy if he’d do $450 cash, same day. He said “Yes, that will work.” Bam!
This is critical: I always get the IMEI or device ID for smartphones and run them through Swappa’s IMEI checker and well as my services Bring-Your-Own-Device (BYOD) check to make sure (1) there is no balance on the phone, (2) that it isn’t stolen, and (3) that it is unlocked.
THERE ARE A LOT OF DISHONEST PEOPLE ON THE MARKETPLACE. MAKE SURE YOU DO YOUR HOMEWORK ON WHAT YOU BUY.
Picked up the phone, it was mint condition and worth about $550. I paid $0 for it as I used profit from my prior flips to get it. It took a total of about 2.5 hours and I didn’t have to use eBay or Amazon this time around; generally if I use those apps, it will take longer and cost a little more due to PayPal fees, eBay, Amazon, and shipping fees.
Oh yeah, and I had $10 left over for lunch.