First, this is FUN, big time FUN!! With that said, I just completed my 2nd and 3rd flip. I am not a wrencher even the littlest sense. So, whatever I flipped, it was just like I got it.
My 2n flip was my wife's $25 Schwinn Traveler, I picked up at the thrift shop for $25. It was a keeper, until the other day, both my wife and I noticed that the Schwinn is too small for her. Okay, I took some pics, and posted it on CL for $160. The Traveler is about an 84 to 86 model, and even though I only paid $25 for it, the finish and condition of the bike was very good to excellent. In about 4 days, I have about 6 calls and promises on it. I took the advice of a thread on this board that a deal is not a deal until money is in my hand.
One college student was so nice on the phone, that I offered to bring the bike to her so she could see it. She mentioned that she was short.. With that in mind, I had a Lemond Tourmalet that I had purchased several months ago, that turn out to be way too small for my wife, and it was smaller than the Traveler. So, I carried both of the bikes.
When the lady tried to mount the Traveler we all had to laugh. The Travel was about a 56, and she was tip toed. Now, her roomate and her were looking at the Lemond. I quickly told them that the Lemond is almost twice as the $160 I was asking for the Schwinn.. I took off the Lemond and it was a perfect fit..I paid $175 for the Lemond at a garage sale..It wasn't my size, but I knew it was worth more.
Anyway, she offered me $250 for the Lemond..I was saving the Lemond to get a frame and swap out the parts and sell the frame. But, no frame has come my way. I sold the Lemond for the $250. That was the 2nd flip..Come the next day, one of the first buyers other roomates had heard about the traveler.. Result, a sale the Traveler the next day for $160.. I made $75 off the Lemond, and the buyer still got a deal, and I made $135 off the Schwinn Traveler. Not bad for a newbie, that can't sling a wrench...
Only bad part is, the wife saw the funds, and quickly started coming with things to spend my FLIPPED MONEY!!
Now, I am on the hunt for a bike for my wife, before she eyes one of my bikes. My wife needs a 59/60. She is 6 ft tall, and it seems all my bikes will fit her..But, I rather find her one, and keep all mine!!
Sorry for the long rambling, but this was big time fun, and I made money to be spent on buying more for my stable... Life is indeed sweet..