Tag Archives: resale

PayPal Working Capital: A Game Changer For My Business

In my last blog I mentioned that PayPal Working Capital was one of the services that I wanted to cover. Having just this past week opened up my fourth loan with them, I figured that now is the time to write this blog. I may not write a ton of blogs on here, but I feel happy to be able to say that each blog I do put up has a lot of thought and time put into it. For me this blog is a long-term project, and over the course of my life I look forward to growing it with quality content, rather than just throwing stuff up.

I first began using PayPal Working Capital when I was sent an invite via email. It advertised a business loan that wouldn’t effect my personal or business credit score, had a flat fee, and the ability to pay a little each time I made a sale via PayPal as opposed to a monthly payment. Almost sounded too good to be true! I had to look into it more.

Upon further investigation I read a lot of great reviews online. I checked out their website, which interested me even more. PayPal Working Capital works by them having the ability to see your sales via PayPal, therefore they are able to customize a personal loan to you based on those sales, then you repay a small percentage (that you have the option to set) with each sale you make on PayPal. I have made PayPal sales over Instagram, Etsy, and elsewhere in the past, but my main source of PayPal sales come from eBay.

With each of the four loans I have taken out with PayPal I have taken a larger amount each time. My most recent loan was for $9,000. The ability to increase my cash flow and be able to purchase inventory I otherwise wouldn’t have been able to has significantly increased my gross revenue. It has also given me the ability to invest into other areas of my business. The process to take out each loan is simple and straightforward. You put in a little information and if you reach the sales threshold they offer you a few options on how much of a loan you wish to receive. You can choose the amount, the percentage of each sale you agree to pay back, and they show you what the flat fee will be. Once you agree on a loan that suits you, in most cases, you have the money deposited in your PayPal account immediately. I have only once had the loan take about 24 hours to be deposited, every other time it was an instant deposit.

You will often hear people say that you shouldn’t use credit or take out a loan. If you are in business, to me, that’s the wrong approach. If you just want to very slowly grow your business (as well as stress out and possibly fail), there’s nothing wrong with that. But if you’re trying to scale your business, “other people’s money” is something you need to be comfortable with.

As I’ve mentioned before I’m also in the beginning stages of buying a house, so taking advantage of a business loan which doesn’t effect my credit score was a HUGE plus for me. This is one fact I can stand behind and guarantee you — opening up a loan with PayPal Working Capital will NOT show up on your credit report, I guarantee you that.

If you are in the same boat as myself, with a majority of your PayPal sales coming from eBay, there is one thing that you should be aware of. That is the fact that eBay recently announced they will be processing their own payments in the future via a startup known as Adyen. Once this begins, for someone like myself, these PayPal Working Capital loans will likely be harder to aquire. However, eBay has also announced that they’ll be teaming up with Square Capital to offer sellers their own version of a working capital loan. Yes, the drama between eBay and PayPal continues!

As time goes on, and more information becomes available, I’ll update this blog post with the latest information, my personal trials, etc… I do know that I’m at least interested in the Square Capital loans as Square is a company which I’ve supported and invested in for some time.

Thanks for reading and if you have any questions or comments please leave them below!

Brent Ott

Reselling: Always Was, Still Is, and Forever Will Be My Anchor

In my younger days I spent my time working “for the man.” You name it, I’ve probably done it. I’ve been a Cashier & Stocker at a grocery store, a dishwasher at restaurants, I’ve cleaned dorm bathrooms. I’ve Managed a Papa John’s and an Arby’s. I worked at a McDonald’s… well, for a day or two anyway. I’ve cleaned big box store floors, done food prep, as I said, you name it, I’ve probably done it.

Everything I mentioned, I hated in some way, shape, or form. I always dreamed of running my own business. When I was little I used to have my own office set up, and spend my allowance on office supplies just so I could pretend I was “the boss.” I briefly started a house cleaning business, just to get my feet wet, but that just wasn’t me. It wasn’t until around 2010 when I finally found what would eventually become my anchor in the business world: reselling.

There is nothing like the feeling of searching thrift stores, yard sales, flea markets, church sales, and anywhere and everywhere else for that thing that you know is underpriced, that you can easily sell for double, triple, even 100 times or more as much as they are asking. It’s a rush like nothing else. I first got the idea that I could actually make a business out of reselling by watching History Channel’s “American Pickers.” From the very beginning that show just spoke to me.

My reselling journey has taken a lot of twists and turns over the years, as you always need to be willing to do in any business. I’ve gone from mainly selling vintage advertising and collectibles, to now selling mainly clothing with a little bit of vintage toys, vintage household goods, and everything else in between.

To show you the potential that reselling has to offer, I wanted to share a few of my favorite scores from my journey, and I’m sure I’ll be sharing more in the future. The first is from nearly 5 years ago, and was from when I was big into selling vintage advertising. I picked up this Muscadine Punch sign at an antique shop, I believe in West Virginia. I was on a little road trip with my girlfriend at the time. It was priced around $120, but being the type always willing to haggle to get the best deal, I talked the guy down to $80. Once I got back home I listed it on eBay, and sold it within a week or so for $400!

It’s not the only sign I’ve sold for a similar profit margin to that, either. There are countless others. It is, however, one of my most memorable and one that my girlfriend and I talk about to this day.

For a more recent score/flip I want to show you a Polo Ralph Lauren Purple Label shirt which was new-with-tags that I sold on eBay already in 2017. I picked it up at a Goodwill at the end of last year. It was in the long sleeve section, which usually costs $5.50 a piece. However, I was using a 50% off card that particular day so I ended up getting it for $2.75Certain Goodwill stores price things of one type all the same, others have individual pricing, some have a mix of both. As for the shirt, after sitting listed on eBay for a month or two, it ended up selling via a Best Offer for $149. 

These two examples are what we like to call “homeruns” in the reselling business. They don’t happen every day, but when they do, you enjoy them. Reselling is really all about the little “bread and butter” flips that add up. $5 to $15, $2 to $10, $10 to $30. These little flips over and over on a consistent basis are what keeps a reselling business going and growing.

For the past 6 or 7 years now I have made a full-time income with reselling, and I’ve slowly added other streams of revenue into my business, with some plans of other additions on the horizon. I’m the type that always likes to have my plate full, and am always full of dreams and goals. No matter where I end up and where my passion for business takes me, one thing is for sure, and that is that reselling will always play some sort of a part. I have truly never been as passionate about anything else I have ever done in my life as I am about reselling. I am very grateful for the opportunity to do what I do every single day.

I’d never recommend that anyone just up and quit their job, especially if they have a family to support and bills to pay. I would, however, recommend that anyone who is looking for an extra source of income that could, over time, grow into a main stream of income, try reselling. A good way to start is just by looking around your home. Everyone has got a pile of something somewhere in their home which they aren’t using and/or don’t want. Start by trying to sell some of those things, and just see where it takes you. Years ago eBay was the only place to sell, but now, so much has changed. There is a vast variety of marketplaces to try online, and many avenues in “real life” such as antique malls, flea markets, and your own personal yard sale. Plenty of opportunity to get your feet wet.

I love reselling and I always will. If you’ve ever wondered about it, there really is only one way to find out and that is to give it a shot. Trust me, everything has a market. One man’s junk really is another man’s treasure. Many things in life are underpriced with profit potential. Hopefully I was able to get your mind working on a different level. THANK YOU for reading and I’ll be sure to share some more reselling content here in the future. If you have any questions or comments PLEASE feel free to leave them below and I will respond!

THANKS AGAIN!

Brent Ott