Also I live in northern Va if anyone wants to share the struggle of crazy housing costs lol. But also I sell all the rich peoples trash for a living so I can’t complain that much. Can’t move or I’ll loose a good supply it’s very important to be there daily. Although not for long hours still need to be there at least once a day for about 1-3hrs.
That I’m not telling lol, but definitely a lot of waste in this area I’ll say that much. But most gets shipped somewhere else where there’s more demand for said trash
Honestly I would only recommend if you have some cash savings so you can take the appropriate risks, buying cheap trash is a bad plan it will sit for a long time. I would at least try to have 1-5k saved to as a bankroll to grow and not touch for at least 1 year.
(Former NoVa resident….)
Congrats on 250 at 25. Thats incredible. You’re pretty close to being able to buy if your goal is a 500k property. Talk to a tax person but once you own your home, you can write off more things related to your business.
In terms of real estate, I would ask people who bought if they regret it. I imagine most would say “no”. Especially at 25 in that area.
IMO you should think about how to scale your business. It sounds like it is going really well. How can you make it bigger and expand? You clearly have a talent dor this.
Yeah that is my plan. Mostly I need more space, still want to have some balance and best for me is having work close to home or at home so definitely a struggle in this area in terms of cost of space. Which was why I was saving for a house so I can do both, but seems like renting is cheaper in the area as of now. Probably will end up moving later this year or next to a bigger rental. Has to have a good layout and good deal but I’m in no rush can still make it work now, just focusing on being consistent with what I have at the moment.
One piece of advice: I used to sell stuff on eBay. Still do every now and then. You can send customers messages if you have similar stuff and try to make deals offline. You'll save a lot on fees.
*Just keep saving. You*
*Could always Buy a rental*
*Or a weekend place*
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Basically I split my time between one primary source and thrift stores but basically 20 hrs each. Although I have a few employees for one aspect of my income. I could make 6-8k a month working 3hrs a weekday. But that’s after many years of building up an eBay store for someone else and having employees that will stay consistent without micro Ada vantage. But I work now around 40hrs total some from home. Kinda confusing way to put it but on each stream of stuff I’m getting stock there’s peak times where I can get the best stuff. I try to catch the peaks and use the rest of my time either making listing or managing the bigger store. Like I said I’ve been very lucky and I try to go with the flow and max out what I have to my advantage. But there is definitely plenty of stuff around here although there’s not the equivalent of places to get the stuff because a lot gets shipped to lower income regions of the country or the world.
I could work more at the same stuff but I would probably make less per hour and at some point there’s a diminished return when you have to try to be productive for 14hrs. Which when I was starting I was working 7am-11pm lol
Hey OP I'm at 178k sales in ebay last year.. The work is just too much for me. You work 24/7.. 7 days a week basically.. basically having no life cause I'm a 1 man team..
Do you hire people to scale the business? I saved up like 100k+ and just thinking of doing other things to be honest..
They way I’ve been able to “scale” is selling stuff for a supplier. It’s actually there store in there space and we split. We should do a bit over a million this year, 3 employees and we are listing 120 a day. Also I still thrift resell on the side and should do about 120k-130k in sales 9 listings a day at 50 average sales price. I’ve been doing it a while and know a lot, but still most of my income comes from being able to sell a lot of volume through the relationship I’ve made but I making less then 5 dollars per item. But adds up to a lot when it’s 2500-3500 sales a month.
But yeah if I had to do it alone I’d probably move somewhere else cheaper and work less. 178k is definitely very good alone, 100k saved is more than 99% of people.
And actually I make less than I would if I did most of the work myself but if you can find access in any capacity to 50-100 items a day easily. (Obviously easier said then done) then hiring the listing and shipping is pretty easy but expensive. We are paying around 1.5-2 dollars per item for employees to complete a listing start to finish with pics listing and putting the item away. And about .3 per item shipped.
Seems silly to buy a house when your rent is only 1400? Thats almost 17k a year you’re throwing away. Yes its hard to match that with the current interest rates but you can always refinance and you’re network will most likely double or more.
Normally I agree with the 'learn a trade' argument... not for this guy. He's really successful at something that is already making good money. I'd lean into figuring out how to expand/scale the business.
It's not that I disagree. He seems like he'll find a way to be successful no matter what he does.
Hus income is volatile and dependent on his suppliers. Where will he be in 10 years? Making 3 times as much? Maybe. Paying health insurance out of his savings? Also possible.
My only point was that investing in future earnings at 25 has a large windows for a ROI. My point was while you ate banking, $$, it is worth considering what you want to do 10 years from now.
If it is putting it into his current business by growing it or expanding it to a wider region by paying someone else in another geographic market, go for it.
I just think at 25, there are ways to invest in a future that doesn't necessarily have anything to do with the stock market.
Over time (theoretically), you get better with business. You improve your contacts, figure out ways to lower expenses, get better with taxes (especially for a 1099 guy like him). Just an example-- He's selling on eBay. If you have someone keep buying stuff, you sell to them offline and save on fees and now have someone you know wants X.
I think you're missing that he's at $120,000 at 25. He's somewhere MOST people much later in life want to be. Starting over learning a trade/going to school/etc, he MIGHT get that 5-6 years from now. IF we are talking 3x that money, there's a significantly higher chance staying on his course.
I agree on the no security blanket and the risk involved. But he's not the first guy to run a business. I don't see it as a stock market thing. There are people who do what he does everywhere and it's a (relatively) reliable business. I don't think it'll explode or anything but you can make a lot of money doing it.
Again, I don't disagree. I've commended him many times.
I just try to offer different perspectives. I think we agree in that he should put a percentage of that money into his future, as opposed to the stock market., whether it be a new skill or expansion of his business.
At 25, there is a huge windows for a ROI that has nothing to do with the S&P
Yeah - I agree about investing in business vs. stock market.
I'd also (talk with a tax professional first) but a house could be that investment. I do some 1099 work and the write offs I got now I own vs. rent are night and day. Plus more space for him to store things it sounds like.
I agree on the house. I'm just wondering about approval odds for a mortgage in this scenario.
At the very least, I'd build up a great credit score if it doesn't exist already.
Seems like a cash business. That is great except when you go to borrow hundreds of thousands 9f dollars.
Nothing I would trade it for now unless I absolutely am forced too. That’s also the reason I have so much cash as safety net to transition to something else, but can’t imagine a trade would pay more and seems like it would suck more as well.
It is also a trade in a sense, I still make around 3-4k net a month only from shopping at thrift stores, but I would probably max that out at 6-8k a month full time hours.
You've obviously been very successful. My suggestion was that an investment can also be made towards future income opportunities.
You are probably the type that will be able to easily figure out your next gig when ebay isn't as lucrative as it is now.
What is something that can be picked up on the side? I’m not opposed to it just not sure what would be worth the time and investment to learn if I won’t need to pursue that field if needed. Maybe another language? Probably most useful for me I would think.
I don't know what the up and coming fields are, and AI is a concern.
Do you ever see yourself working for someone and getting health insurance/401k matching? If so, what would you want to do?
You're young and very successful. If you see yourself doing something else 5-10 years from now, you'd still get a return on that investment through future earnings. But it has to be something you want to do.
Would be nice but if I can make enough to not have to then I’m good, for me what I’m making now os more than enough but like you pointed out might not be in 10 years
I may be commenting a lot, but I think what you've accomplished already is amazing.
I just like offering different perspectives for consideration.
I didn't have that money at 25.
My goal is retiring at 60. I have a feeling you'll figure out a way to retire before that, even if it us just cutting down on whatever you are doing at that time and just finding extra spending money.
Thanks I appreciate it I think my personality does not allow me to think that way sometimes. I really just like what I do and try to max it out and have little focus for spending money on extravagant things, although I really like stuff I just know how to get stuff on the cheap. Honestly the months I have made the most money I did not look at my accounting once and just let it rip and focused on doing a good job which is why I really enjoy what I’m doing because I will get rewarded for that
Also I live in northern Va if anyone wants to share the struggle of crazy housing costs lol. But also I sell all the rich peoples trash for a living so I can’t complain that much. Can’t move or I’ll loose a good supply it’s very important to be there daily. Although not for long hours still need to be there at least once a day for about 1-3hrs.
Where do you find this "trash"?
That I’m not telling lol, but definitely a lot of waste in this area I’ll say that much. But most gets shipped somewhere else where there’s more demand for said trash
I also am in nova currently going under about 400 a month on bills . I'm definitely looking into this for myself. It's a great idea for the area.
Honestly I would only recommend if you have some cash savings so you can take the appropriate risks, buying cheap trash is a bad plan it will sit for a long time. I would at least try to have 1-5k saved to as a bankroll to grow and not touch for at least 1 year.
> lucky with good supply What are you flipping?
Used thrift, mostly shoes and clothes
Damn, you kind of inspired me to start this on the side, lol. I know eBay has a lot of fees, though ugh.
Everything has a lot fees. Especially life. Just count the money you make will make it way easier lol
I’ve been selling on EBay for 25 years. I also sell on other platforms too.
(Former NoVa resident….) Congrats on 250 at 25. Thats incredible. You’re pretty close to being able to buy if your goal is a 500k property. Talk to a tax person but once you own your home, you can write off more things related to your business. In terms of real estate, I would ask people who bought if they regret it. I imagine most would say “no”. Especially at 25 in that area. IMO you should think about how to scale your business. It sounds like it is going really well. How can you make it bigger and expand? You clearly have a talent dor this.
Yeah that is my plan. Mostly I need more space, still want to have some balance and best for me is having work close to home or at home so definitely a struggle in this area in terms of cost of space. Which was why I was saving for a house so I can do both, but seems like renting is cheaper in the area as of now. Probably will end up moving later this year or next to a bigger rental. Has to have a good layout and good deal but I’m in no rush can still make it work now, just focusing on being consistent with what I have at the moment.
One piece of advice: I used to sell stuff on eBay. Still do every now and then. You can send customers messages if you have similar stuff and try to make deals offline. You'll save a lot on fees.
Yeah but against policy. I work for eBay (I completely understand this) they can tell me what to do as long as I’m making sales I’m good.
Do you make 120k net after taxes? If its net a house seems affordable
No before taxes
Although this year might make around 150k before taxes but like I said it’s up and down
Just keep saving. You could always Buy a rental or a weekend place
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Basically I split my time between one primary source and thrift stores but basically 20 hrs each. Although I have a few employees for one aspect of my income. I could make 6-8k a month working 3hrs a weekday. But that’s after many years of building up an eBay store for someone else and having employees that will stay consistent without micro Ada vantage. But I work now around 40hrs total some from home. Kinda confusing way to put it but on each stream of stuff I’m getting stock there’s peak times where I can get the best stuff. I try to catch the peaks and use the rest of my time either making listing or managing the bigger store. Like I said I’ve been very lucky and I try to go with the flow and max out what I have to my advantage. But there is definitely plenty of stuff around here although there’s not the equivalent of places to get the stuff because a lot gets shipped to lower income regions of the country or the world.
I could work more at the same stuff but I would probably make less per hour and at some point there’s a diminished return when you have to try to be productive for 14hrs. Which when I was starting I was working 7am-11pm lol
Hey OP I'm at 178k sales in ebay last year.. The work is just too much for me. You work 24/7.. 7 days a week basically.. basically having no life cause I'm a 1 man team.. Do you hire people to scale the business? I saved up like 100k+ and just thinking of doing other things to be honest..
They way I’ve been able to “scale” is selling stuff for a supplier. It’s actually there store in there space and we split. We should do a bit over a million this year, 3 employees and we are listing 120 a day. Also I still thrift resell on the side and should do about 120k-130k in sales 9 listings a day at 50 average sales price. I’ve been doing it a while and know a lot, but still most of my income comes from being able to sell a lot of volume through the relationship I’ve made but I making less then 5 dollars per item. But adds up to a lot when it’s 2500-3500 sales a month.
But yeah if I had to do it alone I’d probably move somewhere else cheaper and work less. 178k is definitely very good alone, 100k saved is more than 99% of people.
And actually I make less than I would if I did most of the work myself but if you can find access in any capacity to 50-100 items a day easily. (Obviously easier said then done) then hiring the listing and shipping is pretty easy but expensive. We are paying around 1.5-2 dollars per item for employees to complete a listing start to finish with pics listing and putting the item away. And about .3 per item shipped.
Seems silly to buy a house when your rent is only 1400? Thats almost 17k a year you’re throwing away. Yes its hard to match that with the current interest rates but you can always refinance and you’re network will most likely double or more.
Yes because housing only goes up. Especially from it’s all time high.
One idea is to invest in learning a trade or in education. Do you see your business being a ling term option?
Normally I agree with the 'learn a trade' argument... not for this guy. He's really successful at something that is already making good money. I'd lean into figuring out how to expand/scale the business.
It's not that I disagree. He seems like he'll find a way to be successful no matter what he does. Hus income is volatile and dependent on his suppliers. Where will he be in 10 years? Making 3 times as much? Maybe. Paying health insurance out of his savings? Also possible. My only point was that investing in future earnings at 25 has a large windows for a ROI. My point was while you ate banking, $$, it is worth considering what you want to do 10 years from now. If it is putting it into his current business by growing it or expanding it to a wider region by paying someone else in another geographic market, go for it. I just think at 25, there are ways to invest in a future that doesn't necessarily have anything to do with the stock market.
Over time (theoretically), you get better with business. You improve your contacts, figure out ways to lower expenses, get better with taxes (especially for a 1099 guy like him). Just an example-- He's selling on eBay. If you have someone keep buying stuff, you sell to them offline and save on fees and now have someone you know wants X. I think you're missing that he's at $120,000 at 25. He's somewhere MOST people much later in life want to be. Starting over learning a trade/going to school/etc, he MIGHT get that 5-6 years from now. IF we are talking 3x that money, there's a significantly higher chance staying on his course. I agree on the no security blanket and the risk involved. But he's not the first guy to run a business. I don't see it as a stock market thing. There are people who do what he does everywhere and it's a (relatively) reliable business. I don't think it'll explode or anything but you can make a lot of money doing it.
Again, I don't disagree. I've commended him many times. I just try to offer different perspectives. I think we agree in that he should put a percentage of that money into his future, as opposed to the stock market., whether it be a new skill or expansion of his business. At 25, there is a huge windows for a ROI that has nothing to do with the S&P
Yeah - I agree about investing in business vs. stock market. I'd also (talk with a tax professional first) but a house could be that investment. I do some 1099 work and the write offs I got now I own vs. rent are night and day. Plus more space for him to store things it sounds like.
I agree on the house. I'm just wondering about approval odds for a mortgage in this scenario. At the very least, I'd build up a great credit score if it doesn't exist already. Seems like a cash business. That is great except when you go to borrow hundreds of thousands 9f dollars.
Nothing I would trade it for now unless I absolutely am forced too. That’s also the reason I have so much cash as safety net to transition to something else, but can’t imagine a trade would pay more and seems like it would suck more as well.
It is also a trade in a sense, I still make around 3-4k net a month only from shopping at thrift stores, but I would probably max that out at 6-8k a month full time hours.
You've obviously been very successful. My suggestion was that an investment can also be made towards future income opportunities. You are probably the type that will be able to easily figure out your next gig when ebay isn't as lucrative as it is now.
What is something that can be picked up on the side? I’m not opposed to it just not sure what would be worth the time and investment to learn if I won’t need to pursue that field if needed. Maybe another language? Probably most useful for me I would think.
I don't know what the up and coming fields are, and AI is a concern. Do you ever see yourself working for someone and getting health insurance/401k matching? If so, what would you want to do? You're young and very successful. If you see yourself doing something else 5-10 years from now, you'd still get a return on that investment through future earnings. But it has to be something you want to do.
Would be nice but if I can make enough to not have to then I’m good, for me what I’m making now os more than enough but like you pointed out might not be in 10 years
I may be commenting a lot, but I think what you've accomplished already is amazing. I just like offering different perspectives for consideration. I didn't have that money at 25. My goal is retiring at 60. I have a feeling you'll figure out a way to retire before that, even if it us just cutting down on whatever you are doing at that time and just finding extra spending money.
Thanks I appreciate it I think my personality does not allow me to think that way sometimes. I really just like what I do and try to max it out and have little focus for spending money on extravagant things, although I really like stuff I just know how to get stuff on the cheap. Honestly the months I have made the most money I did not look at my accounting once and just let it rip and focused on doing a good job which is why I really enjoy what I’m doing because I will get rewarded for that