We make over $20,000 a year on Amazon in our spare time—it just takes a few extra hours a week
A COUPLE have revealed how they make more than $20,000 a year in their spare time by flipping Amazon return pallets.
The couple laid it all out in a video detailing how it’s done, and there’s even a hidden benefit to reselling.
“In this video we’re going to be really honest about our resale earnings over the last 90 days,” the YouTube couple Jamie and Sarah said at the start of their Video.
“We’re going to talk about the total time spent, expenses and all of our gains.”
The rat traps were the first item of the day they sold through Amazon, and they started their morning with an extra $40.
“One thing to remember when reselling is to always consider shipping costs, and also like eBay seller fees, things like that,” Sarah said.
“Ebay took a 12.9 percent fee for selling the rat trap. So that was almost $10.
“And shipping cost me about $20. So that’s about $30 off that $70 fee, so I made about $40 in profit.”
Special attention should be paid to such details, the couple recommends, since the small fees add up.
They admitted they are only part-time salespeople and said they spend much of their free time teaching, which led them to their breakdown of the last 90 days of selling.
Their passive income from real estate covers their living expenses, they claimed.
Meanwhile, they made about $10,412 in the past three months.
After deducting about $3,600 for shipping and another $1,500 for eBay fees, they made about half of their earnings and ended up with $5,200 for 90 days of profit.
In their calculations, they found they were making about $1,733 monthly and multiplying by 12 months yielded a profit of $20,800 per year for resale.
“Imagine if you had an extra $20,000 a year to do with that,” they said.
When it comes to the cost of goods sold, the couple say they turned between 1 and 2 pallets a month.
“These cost about $525 on average. The reason we didn’t include that in our calculations is because the sales on Facebook Marketplace covered the cost of the pallets by selling these larger items that can’t be shipped on eBay,” the couple said.
For example, three sets of dumbbells sold for $150 on Facebook Marketplace.
On average, Sarah says, they spend about 15 hours a week on their reselling gig.
“So that’s about 60 hours a month,” they said, at an hourly wage of $28.
Both emphasized that just 15 hours a week is perfect for something that can be done in the evenings, weekends, etc.
Whether a person is trying to pay off debt or afford a vacation, they said it’s a viable option that’s also a lot of fun.
Also, they have to keep some of the items for themselves.
“I kept a pool vacuum,” Jamie confessed.
They concluded, “We believe flipping redemption pallets is a super powerful way to pay down debt and get ahead financially!”
It’s important to note that the Internal Revenue Service (IRS) states that if you’re a self-employed person, you’re generally required to file an annual return and pay estimated taxes quarterly.
The Sun spoke to a tax expert who outlined how a side hustle could leave you with a massive IRS bill.
The IRS states that you must file an income tax return if your net self-employment income was $400 or more.
If your net self-employment income is less than $400, you are still required to file an income tax return if you meet any other filing requirement listed on Form 1040.
https://www.the-sun.com/money/6820928/amazon-reselling-pallets-side-hustle-couple/ We make over $20,000 a year on Amazon in our spare time—it just takes a few extra hours a week