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28-year-old makes millions buying from Walmart, selling on Amazon

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Re: 28-year-old makes millions buying from Walmart, selling on Amazon

#71
post #67
post #64

Earlier quoted context omitted.

"Seminars are mentioned" Ahh, yes, of course.

So, if you knew how to make money doing x and genuinely wanted to share that info, how would you do so effectively without being perceived as a scam artist?

Here's his landing page: https://ose.teachable.com/p/how-to-make-your-first-1-000-sel...

Your call on whether it's a genuine desire to share his success.

Re: 28-year-old makes millions buying from Walmart, selling on Amazon

#72
post #71
post #67

Earlier quoted context omitted.

So, if you knew how to make money doing x and genuinely wanted to share that info, how would you do so effectively without being perceived as a scam artist?

Here's his landing page: https://ose.teachable.com/p/how-to-make-your-first-1-000-sel... Your call on whether it's a genuine desire to share his success.

That in no way answers my question.

Re: 28-year-old makes millions buying from Walmart, selling on Amazon

#73
post #44
post #34

Earlier quoted context omitted.

Not certainly - it's very common for a neighborhood to shoot up in value (because of something that individual homeowners don't do, like a major employer moving in or getting successful, or a train station being built, or a nearby neighborhood getting full), and so the market value of the same home at the same condition can increase dramatically just because the neighborhood has more demand.

40% in 2-3 years is pretty unlikely, even in the hottest markets. But even still, does that mean you discontinue shopping in the neighborhood altogether? Because all the surrounding homes would have seen the same increase?

40% in 2-3 years is unlikely, but still happens. Small town + business taking off can quickly dry up all available housing.

I suspect if you look around say the Tesla Gigafactory, local housing prices had a massive spike at some point.

Re: 28-year-old makes millions buying from Walmart, selling on Amazon

#74
post #40

Earlier quoted context omitted.

the article says "his business is making seven-figure profits"

Hmm. Seems unlikely given the manual nature of shopping at WalMart, shipping costs, returns, etc, on an $8M revenue base. Edit: He contradicts himself... "four years later, we're a team of 11 and we're doing well over $200,000 in sales per month" $200k/month isn't even close to $8M/year. And you aren't netting 7 figures with $200k/month and 11 employees. Now I'm thinking this is just a puff piece for his get-rich-qui…

Not only that but, I don't know about Walmart specifically, but retailers tend to ban high volume resellers.

Re: 28-year-old makes millions buying from Walmart, selling on Amazon

#75
post #49

Earlier quoted context omitted.

The article might be exaggerating but it did state that he had 'millions in profits' at first paragraph. Salary is a different matter, CEOs of new companies dont earn from annual revenue but more from stock sales and gains. Paying 150k is also before taxing and profits and is an expense in wages. Taking a quick guess and say that this person has 1 million in profits, but most likely 1 million to 2 million in gross pr…

He also says he's doing $200k/month in one spot, then $8M/year in another. Smells funny.

They are currently doing $200k in sales but "Since he started selling on Amazon, Grant says the business is on track to top $8 million in total sales by the end of this year."

$8 million is sales since starting.

Re: 28-year-old makes millions buying from Walmart, selling on Amazon

#76
post #73
post #44

Earlier quoted context omitted.

40% in 2-3 years is pretty unlikely, even in the hottest markets. But even still, does that mean you discontinue shopping in the neighborhood altogether? Because all the surrounding homes would have seen the same increase?

40% in 2-3 years is unlikely, but still happens. Small town + business taking off can quickly dry up all available housing. I suspect if you look around say the Tesla Gigafactory, local housing prices had a massive spike at some point.

Yes, I said unlikely and I meant it?

Re: 28-year-old makes millions buying from Walmart, selling on Amazon

#77
post #6

Earlier quoted context omitted.

I will occasionally search Amazon for things whose prices I know, like Trader Joe's items or something I bought at a local store. Sometimes Amazon sells it themselves, in which case the prices are reasonable. But often, somebody random will be selling it at a large markup. My theory is that plenty of people are not particularly price sensitive and just want the thing to appear. I'm stubborn enough (or cheap enough) t…

I have a similar feeling when I look at houses to buy online. If I see the house was bought for 40%+ less just a few years ago, I refuse to give an offer. Even if the price seemed reasonable and it interests me. I refuse to reward people who bought low and want to flip it for much higher (if it increased reasonably, fine)

So, either they put in a bunch of work to make the house more attractive or the overall market price rose 40%. In either case you just want to exclude the house because you don't want someone to make a profit?

Re: 28-year-old makes millions buying from Walmart, selling on Amazon

#78

I am surprised that there is so much margin. Is this because: 1. Amazon product delivery is so convenient that users don't mind paying little extra or 2. Walmart discounts products valuing their warehouse space more. Thus not realizing there was demand for the product elsewhere or at a different time. Seems like it would be simple for Walmart to figure out this arbitrage and shelve products for longer time. Any thoug…

I follow this company and guy... they have a bunch of partnerships with distributors and manufacturers directly which result in higher margins. Saying they buy at Walmart and sell on Amazon is only part of the business.

Re: 28-year-old makes millions buying from Walmart, selling on Amazon

#79
post #75
post #49

Earlier quoted context omitted.

He also says he's doing $200k/month in one spot, then $8M/year in another. Smells funny.

They are currently doing $200k in sales but "Since he started selling on Amazon, Grant says the business is on track to top $8 million in total sales by the end of this year." $8 million is sales since starting.

The math still doesn't work. He's been at it 4 years, and he notes that it wasn't huge the first year.

Re: 28-year-old makes millions buying from Walmart, selling on Amazon

#80
post #8

Good for him, but I really wish for a better class of business journalism. He's been doing this 4 years, and never made more than $150k/year. So he definitely isn't somebody who "makes millions".

His high salary was $150k. You can still make millions without taking it out in the form of a salary. If he owns the company and the value of his equity increases into the millions, then he’s making millions. It sounded like he was reinvesting the money back into the business too. It’s probably a smarter use of profits if he has predictable margins that scale.
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