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#679 - College Student Pays Off Loans by Flipping Classic Video Games

2018-11-10

Wanting to get out of debt, a college student pays off a $4,000 student loan by buying and reselling classic video games. 

Side Hustle School features a new story EVERY DAY of someone who started a hustle without quitting their job. You’ll learn how they got the idea, how they overcame challenges along the way, and what the results are.  Share: #SideHustleSchoolShow notes: SideHustleSchool.comTwitter: @chrisguillebeau

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This is an unofficial transcript meant for reference. Accuracy is not guaranteed.
Hey. What's up welcome dishonest school? This is critical about your host really excited about today story because it's all about classic video games, video games We might parental guardians. When I was growing up and I have such fond memories summit- different games and classic systems. Are you may not clear about that? But that's ok, because the stories about somebody who makes money with flipping classic video games sexually college student who's got some lungs got some dead in fact, and he wants they offer debt. So he looks at something that is already knows about. Thirty actually has a bunch of games to begin with, but then he goes much further than just showing his own games figures out how to buy and resolve these games into paying they four thousand dollar alone and really short period of time and then goes on make a lot more money as well, not a principles, selling are the same regardless of what market you're looking at. So even if you dont care by video games, there's probably something else,
there are that you might be interested in buying and selling or something the army have. If you do need to pay off alone or makes him quick cash or just learn more about the world of sight. A sling reselling can be a great entry point. So I tell you all about that. This whole stories coming up after this quick Thank you, too, are sponsor yard, were jobs, more fun and will, if they are, then I will sign into an inordinately with Mikel about her, I'm looking for anyone and everyone who makes working out a blast. That's you! It's! A team altered our comfort chances for US imports, like team ultra gear and more that's team alter at that time to enter nobody's necessary opening its residents twenty one plus. If it'll routine, altered our kindness, and today we can apply open ribbon ensured responsibly, atypical about your like using was Missouri. Caesar Esposito was born in nineteen eighty six year after than intend
entertainment system, also known as any asked launched in North America. At that time. Very well myself. I was seven years old when I got and turned out my life changed. I spent where's upon hours playing the very early. Any s classics Super Mario Brothers document, excite bike ice climber, and the list goes on all the way to Legend of Zelda, the original one and final fantasy. The original one and more videogame shaped my into childhood. So when I stumbled story. Of course, I paid attention about years older than Caesar, but were in the same innovation. His life was also shaped by games growing up. He played the any s, then the Essen he s or superintend, no, I'm through different councils. In fact, at one point he owned a dozen videogame consort and literally thousands of games. I thought I was hard. Korea had maybe five systems at once, so obviously I have to tell my had to Caesar the If citizens go is not to tell you about video games, alas, so let's passport of it Caesar was in college and it also just got married. He worked the usual
part time jobs and was one year from earning a degree and geographic information systems. But he also student loans, Miss Freshman year of four thousand dollars. That was bothering him now let people listening think that a loan of four thousand dollars is no big deal and we have all kinds of listeners with some really serious student loans. At till understand, but let's focus on what his problem lies in how he sought it, because in the end he could have paid off alone of much more than that forty relies yet kind of inventory just lying around that he could potentially cell why so all of his games, but he began since many of them on E Bay, Craigslist and another auction site. It no longer exists by doing this. It wasn't just about trading the games for cash. He improved his process excited about gaming, so he learned when he wrote his listing titles and descriptions to lead passion shine through, for example, you wouldn't say I have a copy of mega man too for sale. He would say get them and started at all. No it's not as the original mega man that game actually wasn't that good. But then they came up with measurement. And it was so much better. I Bobby and you need to own it. After doing after a few weeks, he generated five hundred dollars,
but he knew the solution. Wasn't just a sell out his inventory in doing that. He'd simply exchanging one asset for another needed to actually make money by buying something at one point in saying it at another. We began going to yard sales and play markets inevitably them at least the larger ones would have at least some games for sale. He was already, expert, but he became even more of an export understanding. The average selling price for these games using that start up capital a five hundred dollars that here from selling his own games. He began to buy resale more and more games. Once in awhile and a flea market shopping excursion, he would hit the mother Lode like when he found the vendor selling more than a hundred classic any s games, as was a comprehensive collection, Activision Games for the Atari twenty six hundred system. Now most people do Have any idea about what these old games are worth and to be fair, like all of them are worth a lot of money. Most of them aren't knowing how to spot the door, when in the rough collection of cartridges was Caesar's competitive advantage he kept buying and selling, and within two months he made an
the path that four thousand dollar alone was bothering him. Then he kept going earning between one thousand and three thousand dollars a month for most of the next two years after that he had graduated, had begun a career in just moved on to other things, vision to the pride he feels from being able to pay off his long himself. He also like the fact you know he's not gaming as much now. He still has this knowledge. He can still use that knowledge to make extra cash whenever any, you or whenever he as extra time Awesome, congratulations to Caesar and yeah measurement to so much better than the original make a man for sure hands down. So why is this Why is this a good market? What Caesar Where did using me sell what you know principle like he was a subject matter expert about video games, particularly classic video games, classic cartridge console games. So going into this area to learn about worrisome, basics of reselling like how to write good copy, how to find a good source for the items you need to
That's what he had learned. Buddy already knew so much about the subject itself. There is some controlling advice or contrary and models. Says? Does it really matter what you know about? You should sell what people buy to another. Somebody who doesn't know anything about video games could also into this market and do just as well or maybe not do just as well, but that would be able to do well for themselves, but in this case you focus on that. So what you no prints, and whether you like it to take our market are not consider these qualities of the video game market. Okay, so fork he's your number one? It has a large user base, lotta people buying James, even classic nostalgic games as a huge market for that number to those people, used to spending money, because you know to get video games, you have to pay for them breeders and establish marketplace for buying and selling these items is very common, I saw them on Ebay, Craigslist, other sites, etc. Nobody is surprised by that are put off by that and number four there's a global supply chain that lends itself to arbitrage opportunities.
So to break down. What I mean is that there is a lot of inventory, allow different places and if you look at different sites the games or sign at different prices, it sometimes possible even to buy them from one side and sell them on another night gets a little bit more complicated. But the point is: there's just a lot of possibility here, because this is not a market, is a hundred percent efficient and never will be. She might not get rich doing something like but if you need to make some extra money, you certainly can back in the day I use. Do this a lot. You know it's, it's not difficulty now to go and make twenty to thirty dollars an hour doing it and maybe even a bit more can probably not gonna get rich, but if you can make some money, half alone. Why not? And of course we got a bunch of other recent. Episodes any archives you may want to take a p cat or take a lesson to as it were, if you're interested in this model thanks so much for being out there. You are amazing, as always, inspiration is good, but inspiration with action is better. Today, show are it's out of school dot, com, slashed, six, seven, nine and is for episode of six hundred, and seventy nine put me back a few again tomorrow for their weekly recap and so much more coming up
sweet once again. My name is critical about, and this is side hustle school.
Transcript generated on 2020-04-28.