Buying Products at the Right Price and Pricing Them Properly (Episode #6)

from Really Smart Passive Income

People who buy and sell goods are traders. You buy goods at one price and you sell them at another–hopefully higher price and the difference between the two is your margin or profit. Mike will help you uncover the products with the highest profit that are Amazon hot sellers. It doesn’t matter how many people are selling it on Amazon, what matters is how much you can get it for. Mike is a master at sourcing goods at the lowest possible prices. Of course there’s, but that’s barely scratching the surface. Mike’s been to China and has Product Sourcing Agents there and all over the world. It’s amazing the profit margin on the most mundane items. Cellphone cases are a great example. You see them selling for $29.95, but you purchase them for a fraction of the price, if you know where to get them. There’s a world of highly discounted items if you know where to look. Finding hot selling Amazon items is another area that Mike has mastered. Mike is now selling wine aerators. He can get extremely high quality examples for just $2.80 each (with gift case/bag and filter) and he’ll sell it for around $39.99 each. Cost of goods sold is just 7%! This is how the early trading companies in China did it and how you’ll do it too.

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