291: Turning eBay Profits into Cash-Flowing Rentals w/The Frugal Gay

BiggerPockets Money Podcast

BiggerPockets

Education, Investing, Business

4.5 • 3K Ratings

🗓️ 11 April 2022

⏱️ 71 minutes

🔗️ Recording | iTunes | RSS

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Summary

eBay flipping isn’t something new. You’ve probably bought something on eBay that was sold by a reseller. Maybe a type of makeup you liked got discontinued. Maybe your favorite pair of jeans from a nationwide chain suddenly disappeared. For eBay resellers like today's guest, Tom Brickman (The Frugal Gay), it’s all about finding the products that people love but can’t get a hold of anymore. Tom is a master of frugality. Raised by a real estate investor, he knew what cash flow could do to a nine-to-five worker's life. So, at age twenty-one, Tom cashed in some company stock to buy his first multifamily. He inadvertently house hacked and was living in his own place for a whopping $138 per month! From there, he moved from his native Ohio to Texas where he got a full-time job, built his eBay flipping business, and never stopped reinvesting into rentals. As a side-hustle addict, Tom shares numerous stories about how he made (and lost) large sums of money by reselling on eBay. He even bought an entire house on eBay at auction, which came with bullet holes included. Talk about a deal! Now, retired well before sixty-five, Tom lives a life he loves with his partner, thanks to financial frugality! In This Episode We Cover Why frugality at a young age can compound into massive wealth-building benefits ESPP and reinvesting your paycheck so you can use investments to buy cash flow What makes a great eBay flipping product and how to find the best deals around Commercial real estate investing and rehabbing properties for enormous equity gains Buying homes at auction online and why you shouldn’t solely trust the zip code a house is in Paying off credit card debt quickly through hard work and smart money management And So Much More! Links from the Show BiggerPockets Money Facebook Group BiggerPockets Forums Finance Review Guest Onboarding Scott's Instagram Mindy's Twitter Apply to Be a Guest on The Money Show Podcast Talent Search! 5 Frugality Myths Americans Believe That Would Make Ben Franklin Cry A Beginners Guide to Hack Your Housing and Live for Free How to Pay Down Bad Debt—Fast! Check the full show notes here: https://www.biggerpockets.com/blog/money-291 Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	Welcome to the Vager Pockets Money Podcast, our number 291, where we interview Tom Brickman,
0:05.2	the frugal gay, and hear about side hustles, real estate, and flipping products on eBay.
0:10.6	You know, I've been with that company that moved me to Texas for 15 years.
0:14.4	I left them just this past January.
0:17.2	And if I wouldn't have done that investing in 2010, 11, 12, 13, I went aggressive from
0:24.6	10 to 15, I wouldn't have been in that position to be able to leave that nine to five
0:29.5	days.
0:30.5	Hello, hello, hello, my name is Mindy Johnson, and joining me today is David Hip-Hip-Parei
0:36.2	from the Military Millionaire Group Podcast Mastermind Blah blah blah blah, all the things.
0:41.4	All the things.
0:42.4	All the things.
0:43.4	Thanks for joining me today, David.
0:45.8	David and I are here to make financial independence less scary, less just for somebody else.
0:50.2	To introduce you to every money story because we truly believe that financial freedom is
0:53.7	attainable for everyone, no matter when or where you're starting.
0:58.0	Absolutely, whether you want to retire early and travel the world, go on to make big time
1:01.7	investments and assets like real estate or start your own business, we will help you
1:05.8	reach your financial goals and get money out of the way so that you can launch yourself
1:10.0	towards your dreams.
1:11.0	David, I am super excited to talk to Tom today.
1:19.5	I have been following him on Twitter for a long time, probably six or eight months now,
1:24.7	and I love his stories about real estate, I love his stories about flipping products on
	...

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