Craigslist is one of the OG’s (original gangsta’s) of the internet. And it looks like it. But aesthetics aside, it’s still one of the most useful websites out there.
Arbitrage is one of the oldest ideas in business. Buy low and sell high.
Put the two tools together, and craigslist arbitrage becomes and outrageous life hack.
Saving Money With Craiglist
Whenever you need furniture, appliances, bikes, electronics, etc., you should at least start by checking craigslist.
It’s not guaranteed that you’ll find what you’re looking for and even if you do, it’s not guaranteed to be a great deal. But the great deals do exist.
It’s probably worth starting with the free section.
I just went on there this morning and there was plenty of furniture including couches, beds, and desks. Some of them were even sort of nice.
If you’re a college student moving into a new apartment, there’s really no need to buy furniture. Borrow someone’s pick up truck and pick up one of these free couches. In fact, if you had thought of it at the end of the spring semester, you could have probably just driven around a few apartment complexes and found free furniture that people were throwing out.
Making Money With Craigslist (Level One)
The first way of making money with craigslist is simple: Sell your junk. Sell all the stuff you aren’t using anymore. All the stuff that’s cluttering up your house as you wait for the mythical “someday” when you need it again.
All that junk will never again be worth as much as it is now.
Sure, you could keep your old cell phone in case yours breaks and you need a backup. Or you can sell it because hey, you probably won’t need a backup. And if you do, at least you have the money to buy one. Think about it: the model that you were holding as a backup is probably cheaper now than when you sold it.
Renting Stuff For Free (Level Two)
The next use of craigslist that is underappreciated is as a place where you can rent stuff for free.
Of course, there’s no actual option to rent things on craigslist. What I mean is that you buy something off of craigslist, then sell it gain when you are done with it.
This is a fantastic option for all those silly kitchen gadgets that people buy and never use as much as they should. Pannini presses, electric griddles, quesedilla makers, bread makers, rice makers, pizza ovens, etc. Buy them, use them, resell them.
This can also work really well for tools that you don’t use frequently.
Flipping For Fun and Profit (Level Three)
Level three of flipping stuff on craigslist is where you actually look to make a profit.
Once you gain some experience with level one and level two selling, you’ll get a sense of what is usually available and at what sorts of prices.
You’ll be able to spot when something is underpriced. You’ll notice all the things on the free page that could have sold for good money. The good items with terrible pictures will stick out like sore thumbs.
You take this skill to the next level when you expand beyond craigslist. For example, picking an item up off the free section of craigslist, taking a nicer picture, and selling it on Facebook marketplace.
If you know what you’re doing, craigslist and other online marketplaces can be a way to save money or even make money off all the stuff that comes into and goes out from your life.