Journal 11 – Sold the “Fix and Resell” Flipper

After seven days on the market I got a full-price offer for my first flipper house.  My strategy seemed to work:  I wanted to make the home better than the comparable homes so that it sold fast and got a good price.  The house really is awesome.   Anyway, after expenses I should net at least $29,000.  If you want to learn more about the financials, check out Project 1 – Phase I, Step 4 (free membership required to read the business plan).  You can also read through this business plan and the others.   I’m looking into a 1031…continue

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Memorial Day 2015: Do Not Waste This Gift

Today is Memorial Day.  It’s the day we remember our war dead and those from this generation to generations ago that fought to make and keep this American Republic.   On this day, remember those maimed and dead from the Revolutionary War, to our first Islamist conflict in the North African Barbary States War (you know it as the “Shores of Tripoli” from the U.S. Marine Corps Hymn), to the War of 1812, the Civil War, the Mexican-American War, the Spanish-American War, World War I, World War II, the Korean and Vietnam Wars, and then to our recent “modern” wars of…continue

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Journal 10 – Private Brands and Porterfield’s Profit Lab

The big deal with online product sales (Project 3) is finding the right product to sell.  What is the “right product”?  It has to be able to sell 20 to 40 products per day (eventually), have a decent margin after expenses, and be part of a larger business.  The business cannot be just one product, but that first product must be successful enough to move the business forward. I’ve spent a lot of time evaluating products and business ideas with a lot of disappointments.  Amazon as a sales channel can be wonderful, given its large market.  However, Amazon and (and…continue

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Journal 9 – On-Line Product Business: A Catch 22

I’ve been trying to find a product and product line that fits within my “why” and selected market segment.  The search has been eye opening and frustrating.  I’ve found that competition is fierce, with too many competitors fighting for the lowest price.  I’ve found few opportunities from suppliers, that someone hasn’t already exploited.  Then there’s the distributor/wholesaler “Catch-22.”   I’ve examined a lot of projects and have made serious analysis of five – which included examining sales volume, inquiring on Alibaba about wholesale pricing, and net margin (profit) analysis.  I’ve used the Terapeak tool to examine the sales and profitability of…continue

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