I have been toying around with going back to selling electronics on Amazon to make extra money. Full disclosure, my stocks are doing very well but I feel the urge to get more side-hustle going. This website has shown me the dark side to making money via blogging, and that ultimately the only real way of making a living via web content is to do some questionable things.
Therefore I am going to most likely get back into selling electronics on Amazon for some extra cash. I had a very successful year in 2011, but decided to give it up due to the hassles and time constraints.
Why am I reluctant to get back into this?
- People. You might be surprised to find out how many bad consumers are out there, and when your margins are slim — it can be painful to have a big ticket item get “lost in the mail.” I mitigate this risk a lot by using signature confirmation on everything I ship, but at a cost.
- I spent too much time on the computer.
- Taxes. Nothing hurts more than seeing my refund take a nose dive when I go to pay all of my taxes on my profits.
- Book-keeping. A lot of time and hassle goes into bookkeeping for my online business.
- Physical organization of inventory can be a hassle.
How much money are we talking here?
- If I went all out, I would think $500 to $2,000 a month. A good year would probably be $15,000 extra in cash.
How are you doing it?
I have made a couple of posts in the past talking about it. Check it out here.
Final note – iPad 1st Generation 32gb is currently under $250 on amazon. Don’t forget to click on the “used” tab.