Uncover the secret to earning $132,000 a year by flipping 'rubbish' into treasure!
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The thrill of the hunt and the joy of the flip—it's a modern-day treasure hunt that's turning everyday Australians into savvy entrepreneurs.
One such success story is that of Matt Diedrich, a 33-year-old from the Gold Coast who has mastered the art of flipping items from op-shops, department stores, and garage sales into a lucrative income stream.
With an impressive annual earning of $132,000, Matt's journey from casual seller to professional flipper inspires those looking to make extra cash or a full-time living.
Matt's adventure began in 2020 when he sold old items from his house on eBay. What started as a hobby quickly evolved into a full-fledged business, and Matt is now known online as The Aussie Flipper.
His strategy is simple yet effective: He visits op-shops three times a week, scours secondhand markets every weekend, and looks for clearance boxes at major department stores.
But what sets Matt apart is his discerning eye for high-quality products and his use of technology to make informed purchasing decisions.
He relied on the eBay and eProfit apps to research potential items on the spot, ensuring he only invests in goods that will turn a profit.
This approach has allowed him to maintain an inventory of around 1,500 items, focusing on video games, gaming consoles, DVDs, action figures, shoes, hats, and sports jerseys.
These items take up 50 per cent of his inventory but he also put his shoes, hats, sports jerseys, and other miscellaneous items for sale.
'I'm really trying to focus on getting a higher average sale price with items selling for at least $50,' he said.
In 2022, DVDs used to be his top-selling item, but now video games have taken over.
When Matt calculated his profit, he considered the amount he originally paid for the items, the fees from selling them on eBay, and the postage cost.
However, Matt's success didn't come without learning some valuable lessons.
‘It's crucial if you're unfamiliar with the numbers as it'll spit them out in a heartbeat. Otherwise, you'll be stockpiling items in your home that don't sell or will take longer to sell,' Matt said.
'I'm always strict on quality. Yes, they are pre-owned goods most of the time, but if it's damaged or has significant wear I won't pick it up. Even if it costs $1.’
'If it's poor quality, it won't be as profitable, and it'll sit in your inventory pile for longer.'
The size of a product matters because it affects shipping costs. For instance, sending a DVD is cheaper than sending furniture, and fragile items can break during delivery.
Matt has about 1500 items on his eBay store, half of what he had two years ago.
Matt said that people with full-time jobs can make around $12,000 a year or more if they have a side hustle, such as selling on eBay.
For instance, selling items at $50 each with a $20 profit margin and making 50 sales a month could earn you $1000 or $12,000 a year.
'Don't play with the small stuff; play with the bigger ticket stuff, and it'll make you some money,' he said.
He avoided selling clothing because it is already available, and sourcing Lego is challenging for him.
One of the most exciting aspects of flipping is the potential for unexpected windfalls.
Matt recalled purchasing a PlayStation 2 game, Michigan: Report from Hell, for just $1 and selling it for a staggering $1,000.
'I had never even heard of it before and picked it up for $1. I couldn't believe it,' he said.
'It's often the way it works—if you don't know about it, it might be a high-value item to find, and so the value goes up.'
In a 2022 YouTube video, he purchased DVDs worth $710.50 from Big W for only $150 and made $4,000 from them.
Matt emphasised the importance of hard work, consistency, and dedication to succeed in flipping. Otherwise, you might end up just hoarding stock.
Reflecting on his past, Matt admitted to overspending and making blind purchases.
‘I think a lot of people get caught up in the thrill of the hunt and don't take time to do the research,' he said.
'Just because something is cheap doesn't mean you're going to make money off it.’
'It's important to understand that you're sinking your money into every single purchase, and until it sells, you don't see the money come back.’
'Last thing you want to do is store your house up with stuff that isn't going to sell. You want to be really strategic about it and make sure you're only buying the best stuff possible.'
If you want to get started with flipping items, here’s Matt’s step-by-step guide on how to sell on eBay:
Credit: The Aussie Flipper / YouTube
So, dear readers, have you ever tried your hand at flipping items for profit? What treasures have you uncovered at your local stores or garage sales? Share your experiences and tips in the comments below!
One such success story is that of Matt Diedrich, a 33-year-old from the Gold Coast who has mastered the art of flipping items from op-shops, department stores, and garage sales into a lucrative income stream.
With an impressive annual earning of $132,000, Matt's journey from casual seller to professional flipper inspires those looking to make extra cash or a full-time living.
Matt's adventure began in 2020 when he sold old items from his house on eBay. What started as a hobby quickly evolved into a full-fledged business, and Matt is now known online as The Aussie Flipper.
His strategy is simple yet effective: He visits op-shops three times a week, scours secondhand markets every weekend, and looks for clearance boxes at major department stores.
Matt Diedrich (left) shared his simple yet effective strategy for flipping items to make $132,000 a year. Credit: @the_aussie_flipper / Instagram
But what sets Matt apart is his discerning eye for high-quality products and his use of technology to make informed purchasing decisions.
He relied on the eBay and eProfit apps to research potential items on the spot, ensuring he only invests in goods that will turn a profit.
This approach has allowed him to maintain an inventory of around 1,500 items, focusing on video games, gaming consoles, DVDs, action figures, shoes, hats, and sports jerseys.
These items take up 50 per cent of his inventory but he also put his shoes, hats, sports jerseys, and other miscellaneous items for sale.
'I'm really trying to focus on getting a higher average sale price with items selling for at least $50,' he said.
In 2022, DVDs used to be his top-selling item, but now video games have taken over.
When Matt calculated his profit, he considered the amount he originally paid for the items, the fees from selling them on eBay, and the postage cost.
However, Matt's success didn't come without learning some valuable lessons.
‘It's crucial if you're unfamiliar with the numbers as it'll spit them out in a heartbeat. Otherwise, you'll be stockpiling items in your home that don't sell or will take longer to sell,' Matt said.
'I'm always strict on quality. Yes, they are pre-owned goods most of the time, but if it's damaged or has significant wear I won't pick it up. Even if it costs $1.’
'If it's poor quality, it won't be as profitable, and it'll sit in your inventory pile for longer.'
The size of a product matters because it affects shipping costs. For instance, sending a DVD is cheaper than sending furniture, and fragile items can break during delivery.
Matt has about 1500 items on his eBay store, half of what he had two years ago.
Matt said that people with full-time jobs can make around $12,000 a year or more if they have a side hustle, such as selling on eBay.
For instance, selling items at $50 each with a $20 profit margin and making 50 sales a month could earn you $1000 or $12,000 a year.
'Don't play with the small stuff; play with the bigger ticket stuff, and it'll make you some money,' he said.
He avoided selling clothing because it is already available, and sourcing Lego is challenging for him.
One of the most exciting aspects of flipping is the potential for unexpected windfalls.
Matt recalled purchasing a PlayStation 2 game, Michigan: Report from Hell, for just $1 and selling it for a staggering $1,000.
'I had never even heard of it before and picked it up for $1. I couldn't believe it,' he said.
'It's often the way it works—if you don't know about it, it might be a high-value item to find, and so the value goes up.'
In a 2022 YouTube video, he purchased DVDs worth $710.50 from Big W for only $150 and made $4,000 from them.
Matt emphasised the importance of hard work, consistency, and dedication to succeed in flipping. Otherwise, you might end up just hoarding stock.
Reflecting on his past, Matt admitted to overspending and making blind purchases.
‘I think a lot of people get caught up in the thrill of the hunt and don't take time to do the research,' he said.
'Just because something is cheap doesn't mean you're going to make money off it.’
'It's important to understand that you're sinking your money into every single purchase, and until it sells, you don't see the money come back.’
'Last thing you want to do is store your house up with stuff that isn't going to sell. You want to be really strategic about it and make sure you're only buying the best stuff possible.'
If you want to get started with flipping items, here’s Matt’s step-by-step guide on how to sell on eBay:
Credit: The Aussie Flipper / YouTube
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