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Too lazy to watch the video, is that $2500 profit? There is shipping costs, time spent, gas for car, car wear and tear.
by ape4 8y ago
Too lazy to watch the video, is that $2500 profit? There is shipping costs, time spent, gas for car, car wear and tear.
- influx 8y agoYes, this is after he deducted gas, Amazon fees, shipping fees.
- hunter2_ 8y agoFolks should really use something like the IRS Standard Mileage Rate (Business) rather than gas, unless they're about to sell the car and it doesn't need anything before they do. In this case, 700 miles is $381.50. Still not bad, considering the order of magnitude difference between such expenses and his profit. [0] https://www.irs.gov/tax-professionals/standard-mileage-rates https://www.irs.gov/tax-professionals/standard-mileage-rates
- wtracy 8y agoI think that includes shipping, but not time spent or travel expenses.
- hunter2_ 8y agoRegarding "time spent" -- in a hustle like this, it's not really worth thinking in terms of "$X minus time at my standard hourly rate leaves $Y profit" but rather "$X divided by time spent is my hourly rate" so time spent is not to be deducted like shipping and expenses are. Assuming one individual pocketing everything with no separate for-profit entity.
- barnesto 8y agoyes. he details all of that towards the end of the video. what he did was visit 17 Walmart's in 22 hours and drove 700 miles. he paid $19.82 for each game and shipping averaged $9 per.
- giarc 8y agoTo add to what /barnesto said, he also spent 12 hours manually shipping these items. He knew a lot about the product (where it would be available, prices, demand etc) so I assume he spent some time doing research. I'd be really interested in knowing real profit on this. I'm sure it's positive, but when you factor all these costs, the per hour pay isn't "$2500 in one day!!!"