Let’s take a look at the dos and don’ts of our $35,000 flip. This is a blast from the past. It’s the story of a major reversal in sleep numbers.
I’m sharing my tips from this $35,000 flip and how I did it.
This wasn’t one sleep number, it was many sleep numbers. I love finding great deals on bulk items and reselling them for a huge profit. When we find a great deal that someone else has a lot of, we try to jointly buy that item and negotiate a better price. The deal included 60 king-sized hotel mattresses.
Check your sleep numbers
I found this flip while scrolling through Craigslist in 2015. I sent a message to the man and he gave me his address. He didn’t say it was a hotel, so I was surprised when we parked at the Radisson Hotel. I thought maybe he had one mattress, but he took me back to the ballroom. His 15 sleep his number his mattress was on display there. He was charging him $200 per mattress. The mattress was white, but you could definitely see stains. I negotiated my first mattress down to $160. I knew I could take it apart and clean it. Undo the top zipper and the top mattress pad will come off.
As I drove away, I wondered if he would make a deal if I took the remaining 14 out of his hands. I called him back and asked him what deal he would give me if I took the rest off his hands. He called me back and said that since he had 60 Sleep Number mattresses, he would charge him $100 per one. Also, he only had 14 pieces available, which surprised me. I renegotiated with him and settled on $60 per mattress for a total of $3,600. Since we are doing the upgrade in stages, we couldn’t give it all at once. I did as many as 20 at once.
Cleaning sleep numbers
We took the mattress to our storage unit. I didn’t know how clean it was or what condition it was in, so I went straight to storage. Then I took them apart and took them to a commercial laundromat to be cleaned with bleach and Tide. I applied Shout before washing and it worked great and got all the dirt out. I dried it at home and put it up for sale.
Once dry, I placed them in a large transparent bag to hold the leaves, vacuumed the air out, and packed them into smaller bags.
They all had the Radisson logo on them so people knew they were from the hotel. And we noted that on the list along with the fact that they are cleaned and disinfected.we weren’t trying to hide anything
Part sleep number out
When we first started selling Sleep Numbers, we were selling them for $500 to $600 per bed. About halfway through, I realized that I could make more money if I listed each part separately.
Even now, Sleep Number products are selling well. You can also split each part and list them separately. We can sell pumps, foam, mattress pads, and chambers. There are a lot of components and you can make a lot of money just by taking them apart.
Be sure to insure your items. Sleep Numbers cannot actually be damaged, but they can be lost during shipping. We also lost one, and if we had insurance we would have received $500-$600, but we only got $100. Lessons learned!
Throughout the flip, we made $35,000. Next time you procure, keep an eye on your sleep numbers.
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