2014 Goal and Blog Theme Update

Dollar Flipper Blog Update, Profits 22 Comments

Hello there! I’ve changed the blog’s theme (Dynamic News Lite) to give me a wider text area; I like the extra real estate available for me to ramble. We’ll see how it goes. At some point, if I continue with the blog, I’ll probably update to a pay-for theme. Right now, I can’t justify it though!

October Profits and Goal Update

If you’ve been here since the beginning of the year, you’ll remember that I set out on a goal of completely funding my Roth IRA for the year of 2014 using only profits from eBay and Amazon re-selling. I’ve been sporadically updating this goal with a nice little graph as shown here for the month of October and on the right hand sidebar.

20Oct2014 Online Re-Selling Profit Update

~63% there. That’s almost $3,500 that I didn’t start the year out with!

Ignoring the fact that I’m most likely going to come up shy, I’ll still be able to put aside a huge chunk of cash. This is definitely a win on all fronts.

For anyone who’s sweats the small stuff though, this update is for you. I’ve had to modify my original goal.

eBay/Amazon Profits

I’m no longer going to be using a lot of this money for Roth IRA contributions. Since I wrote that original post in January, I’ve gotten a new job, moved into a new state, bought a town home, my wife got a new job, our daughter transitioned back into daycare, and we’ve have had to deal with minor renovations – new carpet upstairs, ripping up carpet downstairs and sealing some pet odors from the previous owners, and EVERY OTHER LITTLE THING THAT I NEVER HAD TO PAY WHEN I RENTED! Damn it, broke my own no whining rule!

JL Collins had it right when he said that houses aren’t a good investment. They are a very emotionally satisfying and make you feel a little more stable considering that a landlord can’t kick you out even if you are making all your payments, but wholly hell, if you want to be comfortable, there’s a lot of little things that need to get updated! Weather stripping, painting, toilet seats… am I whining again already? Crap!

We plan on living here for a while and may even rent the house out in the far off future. But that’s neither here nor there… well I guess it is there. At least it’s definitely not here!

So now that I’ve burst your financial investment bubble, this goal still works in everyone’s favor. Instead of allocating money towards my future retirement, I’m saving money for my future replacement of old, large appliances!

1907 Industrial Furnace Online Re-Selling Profits

This is an actual photo of our ancient furnace! (No it’s not)

We have old but well maintained equipment here and all will need to be replaced since they are original to the house – water heater, furnace, and HVAC. At least the blower on the furnace died two weeks before we bought the house! And yes, we did get a home warranty. But instead of paying $400 next year to extend the warranty, I’d much rather save up more than that $400 to cover the costs of the expected repairs/replacements! Additionally, being able to do this on the side lets us throw some extra money at our mortgage to pay it off early.

To cap this all off, I’m still here, I’m still blogging, and I’m still making good profits re-selling garage sale, thrift store, and flea market finds on eBay and Amazon.  I’m also squeezed into my desk which barely fits in the hallway of our downstairs since we’re planning on getting new carpet in the office/play room in the next month or so.

Since I have all of these new expenses to plan for, we’re using the extra eBay and Amazon sales to save up for future issues, and the goal name has been updated accordingly – Online Re-Selling Profits.

If you have any issues with this, please feel free to use the contact page and let me know. I’ll expect your paypal account and will invoice you any future expenses!

Seriously though, my next blog post will be a Q&A. I already have a few really good questions from readers that can probably fill one post, but please give me more in the comments or straight through my e-mail dollarflipper@gmail.com. If the list gets too long, I can either break it into a few posts or just write a novella sized post like this one…. It was supposed to be short and sweet. But remember, I love to ramble!

Photo Credit: Mohylek

Comments 22

  1. How do you track the improvements needed? Do you have a master list with approximate replacement cost? Are you buying new from retail or looking for gently used/liquidation? thanks

    1. Post
      Author

      Eh, we kind of just say “let’s work on this big project.” We use YNAB as an electronic envelope system to track the money put towards replacements and will most likely buy them new since wed like them to last for a long time!

  2. Pingback: Roth IRA 2014 Goal - eBay & Amazon - Flipping A Dollar

  3. We’ve been shopping for a house and it’s been a small nightmare. Everything in our price range has major stuff wrong with it. We found one that was in good shape but the entire house was pink. The carpet, walls and even the kitchen counters were pink and the whole house smelled like old lady perfume. It would’ve all had to have been replaced. We passed. Someone else bought it.

    1. Post
      Author

      House buying is one of the worst experiences. I can’t tell if realtors are there to help or to beat you into submission so you just take any anything! Stay strong and you’ll find the right place.

  4. We bought a 100 year old home about ten years ago, and it’s still a work in progress. I know exactly how expensive project homes can be, and I totally understand your decision.

    1. Post
      Author

      Wow! Ours is only 25 years old… The worst part is our house isn’t even a project home. Major repairs aren’t required, new roof… Just painting, new carpets, and major appliances… And maybe the deck… And a long list of small things. 100 year old house is probably really well built though!

  5. We also bought a fixer upper. Our house smells like paint as we speak. The old owner decided to paint the walls, baseboards, ceilings and doors all the same color with varying shades of brown and semi-gloss to high gloss. Needless to say, it looked like crap lol. We have had to paint twice as much and twice as long as we have liked. The part that is the most bothersome to me is that prior to the owner selling the house, the inside of the house was all white and not painted at all :(.

    1. Post
      Author

      That stinks! When its all white, you can set up whatever color scheme you want… Brown… Not so much!

  6. Nice job on the eBay and Amazon selling–like you said, more money than you had when you started! Good luck with the new house, new jobs, and new state. Moving is always such fun, right?! NOT. But, it is exciting. Hope all goes well!

    1. Post
      Author

      Yeah, we’re here for a long time frame. That’s why we’re saving up for a lot of infrastructure type improvements like new carpet and newer water heater, furnace, and AC unit. I’ll be happy as long as we have the money set aside even if we don’t use it for a few years.

  7. Awesome site! Congrats on the $3,500! You know, if you are looking for ways to update your site and not spend too much money, I would recommend Oxygenna themes. (http://themeforest.net/user/oxygenna?WT.ac=item_profile_text&WT.z_author=oxygenna) Their themes come preloaded with a Visual Composer, so you can make your site look exactly how you want. I know some basic html, but I would have never been able to create my site on a small budget without one of these themes. Plus, they have support that gets back to you within 24 hours (And I’m sure those guys are sick of hearing from me! ha)

    Best,
    Brittany

    1. Post
      Author

      Thanks for recommending a theme. Your site looks amazing, so I’ll definitely look into them when I plan on upgrading!

  8. Congrats on the home and the savings. My brother and I went in together and purchased a house a few years back – it sure was a lot more work than I anticipated – but the ability to spend money on your own future, rather than someone else’s, was pretty great. Real estate really is the road to riches – the sooner you can get on it, the better.

    1. Post
      Author

      Flipping houses seems like such an enjoyable thing, but you just can’t do that while working full time too! Maybe in the future when I’m more handy too.

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  10. Wow..lots of changes for you guys Chris. You’re still doing great and almost $3500 in your Roth is awesome. I keep trying to convince my hubby that we need to move out of state..it’s too damn expensive living in Chicago. Our property taxes are $6200 a year. I’m sure I could buy a house for that much money somewhere! 😉

    1. Post
      Author

      Yikes! We lucked out. Our taxes plus HOA is around 3500 a year. The low property taxes were one of the reasons that we didn’t mind paying an HOA. We really enjoy the parks, trails, and the pool here! Without any of the maintenance. 🙂

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