How to start making more miney through flipping?
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How to start making more miney through flipping?
In the past month or two, I've been relentlessly flipping. Starting with just 20M, I've managed to climb up to 125, but I want to start making more money. I can make about 4 or 5 mil on a very good day, but I don't think this is enough. Anyone got any ideas in how I can start making more? I've tried lowballing and investing in the short term, but I've just had no luck. This is mostly due to the fact that I hardly understand how to lowball. Anyone got any tips for a newb? Help would be greatly appreciated.
Sprewnism- Tier 1 (Registered)
Re: How to start making more miney through flipping?
You can apply to become a mentee, which hs lessons to help becoming better with merchanting (we have a flipping group and an investment group). You can also use an second account if you feel you are better flipping lower wealth items which will allow you to use 12 ge slots. Alternately you can try to do some overnight merchanting which focuses on more inactive items.
KillerHart- Forum Fanatic (1000 posts)
Re: How to start making more miney through flipping?
Given the adverb "relentlessly" I'm going to assume you've been flipping in a fairly active manner. There's no real problem with this, except that with more inactive offers you're better able to profit by "making your money work for you" as opposed to "working with your money". Which can potentially be a lot more profitable.
Now perhaps you already do experiments with inactive/overnights, you have mentioned lowballing and short-terms, but there are other kinds of inactive offers. You can make use of volume, going for maybe 20-30 of a 10/4 item provided you think it's stable enough that the margins won't shift unfavorably. As KH mentioned you can also set up another account if you feel that you're willing to put more work into flipping than is possible with a single account, but keep in mind this is markedly easier if you're doing more inactive stuff.
Now perhaps you already do experiments with inactive/overnights, you have mentioned lowballing and short-terms, but there are other kinds of inactive offers. You can make use of volume, going for maybe 20-30 of a 10/4 item provided you think it's stable enough that the margins won't shift unfavorably. As KH mentioned you can also set up another account if you feel that you're willing to put more work into flipping than is possible with a single account, but keep in mind this is markedly easier if you're doing more inactive stuff.
Phileep- Tier 3 (300 posts)
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