How Does Flipping Furniture Work? How To Start!

A side hustle can take your funds to the following level. But you may not need to spend overtime working outside of your house or tied to a pc. If that feels like you, then flipping furniture could possibly be the side hustle you’re in search of.

Flipping furniture could be a profitable side hustle. Although it might probably turn into labor-intensive, it is feasible to do it from your house without spending any more time in front of a pc screen.

Are you able to learn more about the best way to flip furniture for profit? Let’s dive in!

How one can flip furniture

So you should know the best way to flip furniture for profit? The excellent news is that it is totally possible. There is kind of a little bit of exertions involved, but it might probably repay.

Listed here are some tricks to enable you to take flipping furniture from an idea to a profitable side hustle.

Know what to search for before you begin flipping furniture

Before buying your first potential flip, it’s an excellent idea to know what you must search for. You ought to find quality items that just need a little bit of TLC. You do not need to purchase an inexpensive piece of furniture that began its life as an inexpensive piece of furniture that’s prone to collapse in some unspecified time in the future.

For instance, the flimsy bookshelves that a lot of us have put together ourselves in a single apartment or one other are usually not an excellent alternative for a flip. Anything that looks as if it would fall to pieces in transit is not going to be easy to flip. You would possibly have the opportunity to purchase it for affordable, but selling it for a profit is perhaps difficult.

One other thing to think about is the fabric of the furniture. Particleboard is something to avoid as a consequence of its inferior quality. As you search for specific pieces, it is sensible to start out with dressers or other forms of furniture with easy designs and clean lines. The simpler the piece, the higher you’ll be able to make it look with minimal experience.

Discover a solid piece of furniture

Once you’ve an idea of what variety of piece you should flip, it’s time to start out in search of the item. Before you begin searching, consider what’s going to slot in your vehicle. You do not need to purchase a bit only to search out you’ve no technique to get it home.

A couple of places to start out in search of the correct piece include Facebook Marketplace and Craigslist. You can even search for in-person finds at yard sales and thrift stores. You never know what you may find.

It’s an excellent idea to approach this a part of the flipping furniture process with a budget in mind. Don’t spend greater than you plan to in your first piece.

Reimagine the piece

Now it’s time to take the piece from mediocre to fabulous. At this point, it is advisable to peruse Pinterest for some fresh ideas on your specific piece. The inspiration you’re hoping for is on the market!

But most often, you will need to start out with a fresh coat of paint. Chalk paint is a good option to enable you to achieve a clean look. Do not be afraid to make use of several coats of paints to create a pointy recent look.

Some furniture flippers use a sander to create a distressed look. For the reason that shabby chic look is highly regarded, this might help to spice up the worth of your flip. Finally, updated hardware can elevate the brand new look. That is the time to get creative. But take care to make sure that your recent piece will appeal to a buyer in your area.

List the piece on the market

After you have done the work of remodeling the piece, it’s time to sell it! It will be significant to take this step seriously. You will need to take good pictures. Be sure that the piece is well lit.

Consider staging the piece with cute touches like plants and movie frames in order that the potential buyer can visualize what it could appear to be of their home. Take a while so as to add details to the outline. Be sure that buyers know that the piece is well made and prepared for a brand new home. 

If you pick the worth point, it’s an excellent idea to set it a little bit bit higher than you expect to get. Buyers in these online forums are inclined to need to negotiate for a greater deal. With this, you’ll be able to stay competitive without giving up the profit you expect.

Flipping furniture: Suggestions for achievement

The strategy of flipping furniture could be fun. But you will need to treat this side hustle just like the business because it is for financial success. Listed here are some points to have in mind throughout the method.

Start with easy furniture

Easy furniture is an excellent place to start. Clean lines are easier to color, which is essential for a beginner. As you construct your skills, you’ll be able to absolutely construct into more ornate flips. But keeping things more manageable to start with is an excellent place to start out.

Negotiate on each ends

If you end up in search of a bit to flip, do not be afraid to barter. It never hurts to attempt to get the piece for an excellent price. It might help to enter these negotiations with a budget in mind and know once you may need to walk away from a possible item.

Negotiation doesn’t end once you land the piece. It’s best to also consider listing the flipped piece high in order that you’ve room to barter with buyers.

Be patient

Flipping furniture is physical and time-consuming. Should you are only starting out, it might take a while to construct the skill set you wish. As you learn the ropes, be patient with yourself. Do the perfect which you can. But keep in mind that learning the best way to complete a flip is a process.

Pick a spot to work

Before you bring your first piece home, select a chosen work area. Don’t let the piece of furniture take over your home. 

Discover a spot that can allow for painting and sanding safely. Adequate ventilation is essential. Moreover, you will need to search out a spot that may not completely in the way in which.

Consider your mode of transportation when flipping furniture

In fact, having a truck is useful when flipping furniture. But in the event you haven’t got access to a truck, that doesn’t suggest you’ll be able to’t pursue this side hustle. 

With no truck, you will need to get creative to make the flip work. Consider constructing delivery fees into the fee. For instance, you could possibly pay more for the furniture to get it delivered or offer a reduction for buyer pick up.

Track your furniture flipping expenses

Tracking expenses and being mindful of your costs is the best way to flip furniture successfully. At the top of the day, you will need your flips to be profitable. Step one is to trace your costs. Should you do not know what you’re spending, it might probably be difficult to make sure you are being profitable. 

When in search of a bit, aim for items that need easy upgrades. Items that need more extensive fixes normally mean more costs as well.

Finally, it’s critical to think about what you’ll be able to sell the piece for before buying it. If you’ve an idea of what upgraded dressers are selling for in your area, you then can create an affordable cap for getting to make sure that you do not overpay for any particular piece.

Flipping furniture could be a fun and lucrative side hustle!

Flipping furniture could be a successful side hustle. The work could also be physical, but it might probably turn into a labor of affection to revive pieces to see their full potential. Unsure that flipping furniture is the correct side hustle for you?

Take a have a look at the Clever Girl Finance book, “The Side Hustle Guide: Construct A Successful Side Hustle And Increase Your Income.” You will find practical advice for the best way to take your side hustle dreams to the following level!

Start in your recent side hustle with our completely free “Build your business” bundle! Make sure to tune in to the Clever Girls Know podcast and YouTube channel for the best business and financial tips to help you succeed!