eBay flipping isn’t something new. You’ve probably bought something on eBay that was sold by a reseller. Maybe a type of makeup you liked got discontinued. Maybe your favorite pair of jeans from a nationwide chain suddenly disappeared. For eBay resellers like today's guest, Tom Brickman (The Frugal Gay), it’s all about finding the products that people love but can’t get a hold of anymore.
Tom is a master of frugality. Raised by a real estate investor, he knew what cash flow could do to a nine-to-five worker's life. So, at age twenty-one, Tom cashed in some company stock to buy his first multifamily. He inadvertently house hacked and was living in his own place for a whopping $138 per month! From there, he moved from his native Ohio to Texas where he got a full-time job, built his eBay flipping business, and never stopped reinvesting into rentals.
As a side-hustle addict, Tom shares numerous stories about how he made (and lost) large sums of money by reselling on eBay. He even bought an entire house on eBay at auction, which came with bullet holes included. Talk about a deal! Now, retired well before sixty-five, Tom lives a life he loves with his partner, thanks to financial frugality!
In This Episode We Cover
Why frugality at a young age can compound into massive wealth-building benefits
ESPP and reinvesting your paycheck so you can use investments to buy cash flow
What makes a great eBay flipping product and how to find the best deals around
Commercial real estate investing and rehabbing properties for enormous equity gains
Buying homes at auction online and why you shouldn’t solely trust the zip code a house is in
Paying off credit card debt quickly through hard work and smart money management
And So Much More!
Links from the Show
BiggerPockets Money Facebook Group
BiggerPockets Forums
Finance Review Guest Onboarding
Scott's Instagram
Mindy's Twitter
Apply to Be a Guest on The Money Show
Podcast Talent Search!
5 Frugality Myths Americans Believe That Would Make Ben Franklin Cry
A Beginners Guide to Hack Your Housing and Live for Free
How to Pay Down Bad Debt—Fast!
Check the full show notes here: https://www.biggerpockets.com/blog/money-291
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