Ladies and gentlemen welcome back to another, another video here. I've been super busy. That's why I haven't uploaded lately. Thanks for hanging with me. You look amazing. Now let's jump right into it here. So the big thing lately that I've been working on is something called retail arbitrage. Okay. Now, what the heck does that even mean? Well, it means you're buying thanks at the traditional big-box retailers. And then you're selling them firstname.lastname@example.org or EBIT. So you need to have a seller account at those websites. Now how this works is especially right now, there's a huge opportunity. That's exploded online and I've made a good amount of profit doing this in the last few months. Now, what I'm talking about is retail arbitrage, but how it works is there are products that are sold at your local retailer's, whether it's Walmart target or any of them.
The Retail Arbitrage Strategy
And basically they're being sold online for more money. So if you can find a product at your local Walmart, that's say a hundred dollars, but using your cell phone, here you go in and you scan that product and you figure out that it's selling on Amazon for $150 and you can buy it for them or a hundred bucks. You can make 50 bucks minus the fees. There might be sales tax in your state, but you can still make money. So it's not going to be $50 profit. You've got to run it through one of the Amazon fee calculators, which are free. You can find them online if you just Google that, but this is a huge opportunity. So even if you're thinking, you know, on that example, you might make 20 or $30 profit, but if they have 10 units, then you know, you've just made two or $300 and it starts to snowball from there.
Buy Low Sell High
And so if you can find products and there's opportunities out there where you can make hundreds of dollars per item, or possibly even up to $500, uh, maybe more than that though, those are some of the best products I've found, which right now, due to everything that's going on, they're in very short supply they're products that are hard to get, especially in, you know, the digital electronic cam quarter computer equipment space. A lot of that stuff it's been back ordered due to supply chain issues. So there's really a huge opportunity that's happening online right now. Now, for those of you that are wondering about price gouging, um, you know, you're not actually doing anything illegal. Like there was a man who was, who got in big trouble for selling all this hand sanitizer and price gouging, but he was selling it for like 10 or 20 or 30, or even up to a hundred times more than what he paid, uh, this, what I would recommend doing here.
Thoughts on Price Gouging
So you don't get in trouble for price. Gouging is actually, you're just, you really want to be the lowest price seller. Now, when you're talking about Amazon and I'm an Amazon expert, I've helped brands sell millions and millions of dollars on Amazon. So I know the platform, I know how it works and I know what to do. And, and, and all of the intricacies of the, of inside the platform. So what you really need to do on Amazon, and this is a huge, huge tip is whenever you scan it and check with your phone, you can download the Amazon app. It's free. Um, you can even with some other apps, scan barcodes of products, like the UPC code, and it'll pull it up automatically and tell you what the lowest price is of that product. Um, if other people are selling the product, you don't want to list, you know, way higher than them because people aren't going to buy from you.
Lowest Price Wins on Amazon
They're going to buy from whoever the lowest prices on that product. So this is a big differentiator, and I'm going to put my shades back on for this one, because the big difference between Amazon and eBay, so Amazon per product, there's only one listing page or product page, essentially for that product on eBay. And some of these other marketplaces, it depends you could have for one product. You could have hundreds of listings, eBay, they've got auctions, they've got buy it now. So on Amazon, if you're trying to do this retail arbitrage, you need to check out that one product page listing and make sure that if you buy the product for the MSRP, the retail price out your local retailer, that you can then sell it for. I like to do, you know, at least double what you pay for it because you know, here in Texas, I've got to pay sales tax.
Don't Forget About Hidden Fees
And so that's 8.25 on top of it, there are ways to get around paying sales tax. If you've got a real business set up, you can get something that they call a sales tax exemption. So that's important, but really the key here is finding those arbitrage opportunities and then trying to buy as many units as you can of those products. That's my big takeaway for you guys. That's what I've been busy doing here lately is a, is selling products on Amazon and on eBay that I'm getting at my local retailers, which include Walmart target best buy, um, and in some of the other ones that are local electronic stores, uh, which might not be relevant to your area, but there are tons of opportunities out there. Go check them out. Let me know what you find down below in the comments. And I'll talk to you next time. That's all I got for you today. Hey, don't forget to like, and subscribe on this video and leave a comment down below and let me know what you think. And if this video was helpful, if I can help you guys out in any way possible, let me know. Thank you.