How to Start a Phone Flipping Business | Full Guide

Flipping phone is how I upgrade phones for free and when I was in college it was how I made some extra money. Today I'm going to give you a full-blown guide on how to start this business.

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1. What do You Need ( Money and Tools )
- I recommend you start with 2 generations older phones for practice ( they are cheaper and the margins are better )
- For iPhone starting out with the Xs or X model is going to be fine
- Starting with a 12 is not a good idea, to expensive and you won't make a lot of money

Requirement:
- Save up $300-$500 to get started or $100-$150 to get started with older phones
- Signed up for eBay, Paypal, Facebook, Mercari, Craigslist, Offer up, swappa and let up (these are going to be the websites we can use to buy iPhones and also sell them)
- Btw this video is not about buying and flipping phones with Cracked screens ( I have a full video on that linked down below, but this one is all buying good condition phone selling them for a good price )

2. How much to Pay for a Phone and How to sell it
- This is the number one questions I get asked
- And the answer is simple
- And you’ve probably done it a few times

eBay and Facebook:
- We are going to pick a phone like iPhone x
- Go to eBay, swappa, and Facebook and see what the current market price is and your buying price
- And start sending messages and negotiating

Calculator Math:
- Sale Price is $300
- Ebay Fees are 10% = -$30
- Paypal Fees: 2.9% +30 cent = $9
- Shipping Cost =$10
- Profit you want - -$50
= $201 to buy price

However:
- You can skip the middle man which eBay and PayPal by trying to resell the phone on Facebook
- So if you buy it for $250 and sell it for $300 that’s a $50 profit
- A lot easier

Tip: crack phones and apple fixing prices and go to a third party

3. What to Look out for when buying a Phone
- Stolen phones, iCloud locked phones, and Phone with balances on them
- Also look out for people trying to rob you and potentially hurt you

Here are 3 rules I follow to avoid this:
- I only meet in public areas ( apple store is my favorite, Tmobile store is my second favorite )
- I don’t meet at night unless it's going to be in a very public area with people looking at us
- If it sounds too good to be true it usually is ( you have ever seen an iPhone 12 goings for $700, those are stolen directly from stores )

Here is How:
- Brand New iPhone for Discount: scammers use fake identities to pull the phones out and plans and then sell it to you, but it's going to get blacklisted. ( the only way to use the phone is outside the US )
- Phone has Icloud Lock: you can't remove it, most likely stolen or lost and found
- Phone has a balance: the person didn’t pay the phone off but wants to sell and then you’ll get stuck with the problem

How I prevent this:
- I usually only buy phones that are unlocked or I ask the person to unlock it before selling it to me
- I meet them with Sim cards to make sure it's unlocked
- I use IMEI checker to make sure the phone is not blacklisted
- And if something smells fishy, I have them call the company to see if it has a balance.

Tip: For people with no money, sell your phone and buy a cheaper one and use those profits to start.

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*Some of the links and other products that appear on this video are from companies in which Tommy Bryson will earn an affiliate commission or referral bonus. Tommy Bryson is part of an affiliate network and receives compensation for sending traffic to partner sites. The content in this video is accurate as of the posting date. Some of the offers mentioned may no longer be available. I'm an Accountant but I'm not your Accountant, always review information with your Accountant/CPA and your Financial Advisor.