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How to Start a Phone Flipping Business | Earn an Extra $989 Per Week

alright guys so another day another

video on how to actually start a

business now for the first time this

business is not really a passive one so

if you're expecting like super passive

like you don't have to get up from your

chair this is not the one you actually

have to put in some work to make that

money now this video is about flipping

phones how you actually make money I've

been flipping phones for a very long

time and I do it occasionally usually I

don't do it that often now because I

have my own businesses outside of

YouTube but usually what I do is like I

buy phones and I sell them just so I can

get a free upgrade because I don't like

paying for new phone so I just like sell

a few get the profits and then just buy

a new phone and there you go I have an

upgrade without actually spending money

for it but for this video it's not

really how to do that it's actually how

to make money and how to make some

income actually doing this now the most

I personally made myself is maybe

between 2000 yeah two thousand dollars a

week off of doing this business now it's

not really that hard don't worry about

I'm gonna teach you everything there's

really two ways of doing this right you

can either buy phones right or you could

buy broken phones and I should repair

them now it's very difficult to actually

learn how to repair phones and I

recommend you actually take some courses

and classes and watch some YouTube

videos if you don't have the money or

the budget because you don't want to

pick up because you don't want to mess

up a phone and actually you know you

just stuck with no money and now you're

stuck with a phone that doesn't work but

don't worry you can still sell it on

eBay for like a like a measly profit or

maybe a measly little income so you can

actually still buy another phone in this

video we're gonna talk about a few

things so I should start this business

like we do in all of our videos now

Tommy what do you mean by this bro I

mean we're gonna talk about the startup

cost the profits the expenses and some

of the challenges that you might

actually face now for the startup cost

you need money to actually buy the

phones really not surprising so I

recommend you have between a hundred to

a thousand dollars depending on how you

want to start right if you want to start

buying iPhone taxes you're gonna need

like maybe five hundred dollars just to

buy your first one flip a flag maybe 750

on eBay and by the way the profits are

not as what they seem that's why

whenever I'm buying phones I buy them

like for example I expense the phone I

buy it for like five hundred dollars and

I sell it person to person for like 750

I just made 250 profit cash no problems

but if I take that phone which is like

five hundred dollars and I still in on

eBay eBay is gonna charge me let's say

around ten percent right so we times it

by 0.9 II guess what I'm only left with

seven seven

five I'm only there for 675 that means

that eBay took 25 plus 50 75 dollars and

I have to ship it so that's minus 25 I'm

only left for 150 so that's very

different from making 250 making 150

it's crazy now you do need some money on

the side in case emergencies do happen

Tommy what emergency am I going to face

well guess what and I just want to rob

you or whatever like I would sell your

phone that's not unlocked that has

problems that might be stolen and next

you know you're either in prison locked

up or you're stuck with a phone that's

carrier locked right and what does this

mean tell me that it's carrier lock it

means that it only works for Sprint

Verizon t-mobile or whatever it is but

you can't put it anywhere else and

that's actually not that good and the

price for those phones actually are

lower

well Tommy how do I check this stuff

well it's very easy bro I'm glad for you

accident what you basically do is you

take the IMEI from the phone that you

can find in the general settings and all

that information you take the IMEI the

serial number and you put it on Google

while you look up for like like like

literally I mean I check her online or

like serial number check her online and

you put it that in there and it tells

you if it's stolen if it's unlocked or

if it's not now there are a lot of times

that people will give you a phone and

it's not it doesn't have a problem

whatsoever

but guess what they call their company

to tell them hey the phone is stolen

like I don't know what to do like

somebody stole my phone but they

literally just sold it to you right so

that's that's fraud so what I do to kind

of like not let that happen to me is I

basically grab that person and I say hey

what carrier do you use they say well I

use t-mobile all right let's call C

mobile and ask them if the phone is

fully unlocked and it's fully paid off

if the person is super honest and they

really have nothing hard and they really

need the money they're gonna say okay if

they say no consider like a red flag and

then continue on your own wrist level

because I don't really do it like that

now the third thing that you actually

need to do to start this business is

decide if whether you're just going to

buy phones and flip them like for cash

or like on eBay or whatever or you're

gonna buy phones that are messed up and

repair them now if you have that tech

mentality but you can actually sit down

and repair a whole phone and replace the

screen no mess information then congrats

you're gonna make a lot more money than

the average person but if you're just

like me and you don't want to deal with

all that nonsense then you're not gonna

make that much money but if you are like

me well you don't have

but you do want to learn then you can

just go on YouTube and learn how to do

it or take some professional course and

how to do it oh go somewhere that

actually teaches you how to do it with

using their materials I really recommend

that because you're learning on their

dollar now the second thing we're going

to talk about is the expenses now unlike

any other business there really no

expenses aside from like the cost of

goods which is like basically when you

buy the goods which in this case are the

phones and then the are some expenses

like for example if you're buying

equipment to actually fix up phones and

that's an expense because yes you have

to buy like repair equipment like like

screens and like um keyboards or

whatever you're buying to actually fix

these phones and the second thing is

like Commission's right like if you're

buying and to sell on ebay because the

market is so much larger then you have

to pay eBay a cut that cut is ten

percent commission and don't worry if

you're gonna do this thing and yes

you're gonna file tax and you make it

like a real real company then the

commission off of ebay you can deduct it

from your taxes so you're not gonna ever

be paying taxes on the full amount so

don't worry about that either

now a third expense is kind of like a

hidden expense it's kind of like the gas

you know like the gas or like the travel

expense and all that stuff because when

you are buying phones you kind of have

to consider the fact that for example if

my name is Tommy I'm selling my iPhone X

and you want to come to my house or you

want to meet up somewhere to buy this

phone you have to come to me you have to

travel to me you have to negotiate with

me there's also a time expense because

you have to negotiate with me try to fix

everything out I try to compete and all

these other factors but that's really

about it there's really no big expenses

like there's really no like crazy

expenses out there is just like the

commission for eBay if you're doing eBay

if you're doing like cash the cash purse

to the person then you just have to sell

it to them and it's about it period now

the final thing which is like the most

important thing for most of you guys is

the profits Tommy how much money can I

make by selling phones now I made a list

not too long ago where actually showed

my profits anything that was like less

than iPhone X like maybe less than an

iphone 7 leaked iphone 7 and so on I

used to make a profit of like maybe like

80 to $40 on eBay like per items so if I

would buy like six phones and they were

all like iPhone like iPhone 7s and 6s I

would make like $40 40 times 620 or $40

if the profit margin was 80 it all

depends on the person you know because

there's some people that are selling

their phones and you just gonna sit okay

because there are some

people out there they're trying to sell

their phones but it's basically just to

upgrade to something else so they really

have no value they really don't care and

they just try to sell for something that

is higher than what Apple would give

them more like Samsung would give them

or whatever the trade-in value would be

so all you really have to know is like

that information like how much would a

company give you for this phone let me

offer you a little bit more and let me

tell you that you're not actually gonna

have to go to eBay and all this stuff

because you'll have to pay Commission

and then like shipping and it's

something it's like I know it's kind of

like an inconvenience that a customer

doesn't really want to go through so if

you're making 80 bucks per phone times 6

well that's for 80 now for a phone like

this a high-end phone like an iPhone X

iPhone XR iPhone xmax iPhone XS like I

would usually make like between 100 to

180 dollars profit like I would buy an

iPhone X for like maybe $500 so that for

like 7:15 that's like a $250 profit easy

I'll buy an iPhone XR for 500 SL from

750 also it's like 20 or $50 but

sometimes you buy them for like $600 if

it's kind of slow you sell her for like

750 si 150 profit you might be you might

buy it for 650 sell it for 750 that's

one your auto profit it all depends but

if you want to be doing volume volume is

where everything is that if you want to

be doing volume that you actually gonna

have to go a little bit higher in the

prices and a little bit more negotiable

on those prices now guys if you're

wondering something now right which is

the most important thing and I'm almost

out of time is the challenges in this

business right because because we got

the startup cost is very simple we got

the expenses very simple the profits

very simple but what about the

challenges to this business right

because every single business out there

has challenges now for this business is

no different there are challenges for

example what happens when your messaging

10 people and they're all saying no

rejection is a real thing like I

wouldn't message like 10 people I would

get nose nose nose nose but I would

always make sure that I was always leave

the conversation on a just let me know

you know and sometimes those people

those nose will turn into yeses later on

but an average like actually the success

rate is between maybe like like maybe

you get 10 rejections you get like two

yeses and other two yeses maybe like one

person mike flock maybe you have five

yeses and then maybe like two people

might not show up because that's a real

thing also and one of the other things

is that you have to understand something

that you're gonna be locking in your

money for a while so if you need the

money and you're trying to make fast

cash it might not be the best deal Tommy

what

it means that if you buy this phone for

me for $500 which I will be crazy that

she sells you for $500 you just have $5

and now this is a phone right what

happens if the phone doesn't sell in a

week

what happens if it doesn't sell in two

weeks well you still you still have the

$5 ear so until you sell the phone you

have no money you just have inventory

and that's one of the challenges guys my

name is Amy bracelet if you don't know

me you know me now if you have any other

business ideas you guys have or want to

know about is let me know in the

comments down below I'll make sure to

get right on it I'll see you guys in the

next video thanks for watching and

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