Buying Your First Liquidation Pallet | Liquidation Pallets 101

what is up beautiful people TJ here with another episode today I'm gonna be taking you through the process of purchasing your first pallet your first liquidation pallet I'm gonna be taking you through sourcing exactly how to process the pallet as well as how to list those items especially when they are in not-so-new condition so if you want to see that stick around [Music] [Applause] [Music] so the first thing I want to talk about on this video is how you get to sourcing your pallets I think this is a one things that kind of get people the most frustrated and they get the most like discouraged when they start looking at liquidating pallets or liquidating items and selling them for resale so I didn't know exactly where to source these pallets from whenever I first started I did a quick google search I always tell people when they asked me on YouTube they say you know hey today how do I know find these liquidates paths I'm like you know I'm no Google liquidation peddler places close to me that's the way that I found - that's the only way that I can answer that question now I will say that some kind of way we looked up and found a place locally that we can't purchase these powders from and we kind of just looked up on it it wasn't like we was searching for these places to find them we actually went on to liquidation , which I'm gonna show you here in a little bit what to look for on that website but willingly liquidation com purchase our first pallet would pay like $1,300 for it and then we immediately went to the local place we paid $200 for a pallet and it was a crap pallet not gonna lie I think that we paid $200 for it and we probably made $100 back I mean it was a bad experience the first pallet that we purchased locally but the ones that we purchased after that were really really awesome so I think that place was kind of new and they was just starting out and we was just going through growing pains with them so whenever you are searching for your first pallet place go on Google just type in liquidation places and near me or type in that's really a pallet pallette liquidation sales or something like that and it's gonna show you Google's very intuitive and Google is very smart and it will tell you exactly where those places are so once you find a place I would say before you go in and you know you get a truck and you're ready to go in and purchase one of these pallets you go down to the place you know it may be really close to you luckily our place is about 15 minutes away or you know we've been as far as two hours away to pick up pallets but if you are nervous about just go there first just kind of busy talk to the owner or talk to some of the people that work there and just understand the process of how to purchase the pallets locally so generally we'll go down to the store we'll look at all the pallets that they have some of the places actually post the pallets on their website or they may have like a Facebook group you can go join their Facebook group and they'll show you exactly what they get or when they're getting in so our pallet place they actually are open Tuesday through Sunday and they post the day of when they get pallets or they may post night before and say hey we're getting some HD pallets or we're getting some Emma's they don't say Amazon because they can't use legally they can't tell exactly where they're getting items from so you know they say HD or they say high-end there's certain little coal works that they use for which type of pallet they're going to get so generally from those places we'd like to get HD pallets so we'll go through an HD means Home Depot will go in we'll look at the pallets will sometimes we'll pull out our phones we'll use the Amazon seller app we'll scan a couple other barcodes and some place don't like you digging into pallets so like I said you need to go there and kind of get a feel for the people that are actually working out of the company that you're working with so we'll go in we'll look at some of the items we'll just see what feels good and then we'll make our purchase now a lot of these places they'll let you purchase the pallet first and then come back later and get picked the pallet up so we didn't have a truck at first so I got truck now but we used to have to rent the truck at Home Depot it was 1999 I think it was like 21 87 or something like that and there being about 25 dollars once you factor in the mouse at the place we went to but that's an option if you don't have a truck go to Lowe's or Home Depot and rent their truck super easy you pay for with the debit card you don't have to put a deposit down at least I don't have to put a deposit down you may have to put one down you have to just check on that and that's how we picked up a person in the beginning if you see some of my older videos you'll see me going to the Home Depot and picking up the big old truck so once we go in we'll buy the pallet we'll bring it home and then we'll go through the processing of it also when we we start processing our pallets generally we'll take everything out now we have a youtube channel I'm gonna do a plug right here pallet jack in on youtube.com I put a link to it up here at the pump but at the top it'll be also in the description section below go through and so we go through with unbox everything on video and then we'll go through and start processing everything so we'll write everything down or we'll type in our Excel spreadsheet and say ok we got this this is how much we pay for it and this is how much we think we can get for it so a lot of times we'll take the full amount of the pallet so if we pay $200 we got a hundred items in this palette will divided by a hundred and that gives us how much we need to make per item so two dollars per item is how much we need to make now we may make $100 on it may make $5 on it but that that gives you idea of what you need to shoot for in terms of making your money back because that's the name the game is making your money back on these pallets so once you get your pallet you get a name you start processing it make sure that you organize yourself so I didn't release the video this week about getting organized and having your business model and all those different things together and I think it's very important before you start because you don't want to get into this business and be unorganized and you start losing money that you don't even know that you're losing you'll start I'm eating up a lot of money with items that you have that it's not listed anywhere that it's not gonna make me any money so just make sure that you keep that in mind whenever you are doing that so the next thing that I look at will get everything listed our wicked everything process we know that's what we got then we'll start listing those items so when we start listing items that's where it kind of gets a little bit different depending on your business model so if you don't have a place where you can sell it if you don't have a place to house it then you will have to find somewhere to house all your items so we started in the garage my garage here at my house and in this room right here which is just my little movie theater room and it was a junk pile we had stuff everywhere I didn't know what we had or where we had it I was taking up this room I worked our own and my garage and it was just a big mess so we actually got a storage unit we got a 10 by 20 storage unit I think we got it for real seems like $97 a month which is cheap to me and we put shelves in there I'm sure if you if you're watching these videos you probably seen that video before but we put our shelves in there we put all our products in there and that's where we used to go and and pick up our products to ship them out because that's the only way that we were selling things was online through eBay at the time so then we started on Amazon which is a little bit different I've got some Amazon videos if you want to see those exactly how you do film by Amazon and how they can help you out I put them up here in the cards at the top but if you are selling items and you are selling them online youse need to make sure that you understand exactly how you are going to house these items where are they gonna go so once you get all your items you get them into a place then you need to figure out where you want to list them at so we list on Amazon we list on eBay we list on all of the big ecommerce websites because you can't list it in too many places now I will say this sometimes that can be confusing so if you list something on Amazon eBay Poshmark and Facebook marketplace and then somebody buys it on Marketplace now you got to make sure that you remember to go back and delete all of those from those other places so we'll get more into the technical side of it and just a little bit I'm gonna take you into the Peter I'm gonna show you several different things on the computer of how to kind of get started with this business I just wanna give you like a little bit of an overview of what you need to do so once you get everything listed just make sure that you understand where everything is listed where what it's listed for and how much your profit is going to be so generally we'll look at our break-even point so if we pay $200 for this pallet okay and then we've got a hundred items with this pallet so once we get to that $200 mark everything else is going to be profit so we generally make our most money in that after break-even point because we're very aggressive with our pricing at the bare beginning because we want to get up to that $200 that break-even point but after that we're a little bit more liquid with our prices so you know we may have an item that's $100 but we'll sell it for $20 because it is profit you know and we only pay two dollars forward or whatever we pay for it but we generally make our most money because people want to get those low-priced items especially when they're dealing with a liquidation store all right so we're gonna go ahead and jump into the computer first of all I'm going to show you I'm going through Bolcom I'm gonna go to liquidation calm I'm going to show you wholesale ninja and I'm gonna also show you quick lights just a general overview of those websites exactly how to get on those websites and source your pellets and then we're gonna jump back over here and we'll talk a little bit more about just the whole business of getting everything processed and getting everything online and getting some money and you to your account we're gonna pull up the first one the first clips like we're gonna look at which is Bolcom and I'm gonna log in alright so this is what I normally see normally I don't look this on the computer I look at it on my phone so they do have an app it's very intuitive when I log into the app it actually gives me some options down at the bottom that I really like but you can go right here so you can just look at all different categories computers an office consumer electronics home and garden apparel and accessories toys and baby and general merchandise let's click on general merchandise just kind of see what they got and so it is start by showing you all of the the patterns that they have I don't think it's in any particular order so if you want to go in for prices low to high you can see the lowest price items first or if you want to see the highest price you can go from high to low I'm as you see they have some up to $4,000 so we'll get into the price for in the shipping and all that stuff here in just a moment so generally what I will do is I'll go in here and I'll go to most recent so this is the most recent stuff that they got in and I'll just kind of click through some of the items now I don't normally get general merchandise so let me go back here I like computer and office stuff and I like consumer electronics and I also like bed I call it baby back the more that's not what it's called but like home-and-garden type of things so you can go right here you can look at and that kind of stuff and here you can see all of the the items that they have now bulk does give you an option of purchasing either a case or a pallet a case is gonna get you a lower cost but it's worth of course it's gonna be a lower overall amount for the MSRP so I'll just keep that in mind when you're looking at cases versus pallet so we go over here in the most recent will see the most recent stuff they got in and you'll see exactly how much the cost is so I'm just gonna click on 1 X I'm just gonna click on this one I'm gonna show you a couple things that I look at whenever I'm trying to source these pallets so right now it shows you a picture of you know the top of the pallet or the case you can see right now this is the bed bath and beyond as threshold Chris fittings it feel crest gravity and the original retail is five hundred and fifty nine dollars so if you pull everything out of this item and looked at the MSRP that will be five hundred and fifty nine dollars now this pallet is $49 with thirty dollars shipping so you're gonna pay $79 for this pallet worth of stuff so generally when I'm looking at stuff I try to stay within like 10% range so you know I'm trying to stay up to fifty five dollars for this five hundred fifty nine dollars worth of stuff so that is right around that cost now it is $30 shipment so you have to think about that and incorporating in coorporate that into your cost so this has 16 items that will be four dollars and ninety four cents per item now this is what magic comes in so I go down here to the lot details and this right here will show you each and every piece that is inside of that pallet so this is an uninspected return so you don't necessarily know what the condition of the item is so what I can see right now is that there are only three of these items that are actually amazon.com selling so if you are an Amazon seller you need to be looking over here at the ASI and make sure that you can sell this item you can you can click on it it'll pull the item up since it's currently unavailable so that's not necessarily a bad thing because if it's unavailable that means if you do send these in to Amazon or if you do list them you will be the only person selling these whatever this is is gravity blanket so click on this one and it's $14.99 so you can kind of go through here and get a general idea of what you're gonna be getting and what may be you can get from them so this item right here is 51 94 on Amazon so you can kind of go through and see all that stuff so what I do is I didn't really download the manifest now the manifest to him look a little bit different so you can open that up maybe and it's going to show you everything that is in the palette it's gonna give you the UPC code so now with the UPC code let me kind of show you what I do so this is something that makes a little bit easier I copy the UPC code you can go over here to your web browser and paste that and it is going to pull up where the item is how much it is and where it is so now as you can see this is a target comm item or a target I am so if you see a brand name fresh hold or this field crest or project 62 those are gonna be target items now I kind of generally steer away from target items because a lot of these items are not available on Amazon and Amazon is my choice for shipping so I try to stay away from these items but this is an item if you're selling stuff locally or selling stuff on eBay you probably can get away with selling this stuff that is from Target so when I put the UPC code and it did pull up this item on eBay so let's click on that so you can see somebody selling this right here for 37 99 that doesn't necessarily mean that you can sell it or will be able to sell it for 37 99 but that is there is one of these listed on on eBay so that's basically how you go through Bolcom you can kind of go through here and some of them you can find there's a lot of a sighing numbers which means that you can send a lot of stuff to Amazon if you are Amazon seller Amazon when stuff listed on Amazon it makes it a lot easier to sell just in general with my workflow now this is another thing you need to look at so these these are unexpected returns this is the case because you how many items what the weight is and where it is shipping from so bulk has actually changed the way that they do shipping they used to do just one call shipping but now it actually tells you you know ground shipping this Clues included these are cases so they're gonna be the same amount for the shipping but if you get a pallet the pallet shipping costs will fluctuate based on the weight so it used to be $200 across the board but I have seen some pallets now where it's less than $200 based on where you're getting it from so I live in Tennessee so I will look at things that come from Mount Juliet Tennessee because the shipping is gonna be a lot cheaper so if we go ahead to this pallet this is something that will probably look at its $437 and it'll give me a shipping quote so to my address it's gonna be a hundred and twenty three dollars for shipping so this would be five hundred dollars now in the old model this would have been for thirty seven plus two hundred so this would have been over six hundred dollars for the same pallet even though the shipping wasn't actually $200 so bulk had done really good job with doing that so let's go over the liquidation comm I'm gonna try to get to these pretty quick so we'll go over the liquidation not come so the difference between bulk dot-com and liquidation dot-com is that liquidation not calm you actually have to be it on the item so I'm just gonna click really quickly if you go here and show you feature art auctions so right now we're trying to source an electronics palette a lot of times we get our electronics palettes from liquidation but these are a couple things that you need to look at if you are planning on beating on liquidation calm so when we look at this we see there's one hour and five minutes minutes left on this so this is the estimated MSRP is a thousand nine hundred ninety nine dollars the current bid is $280 the minimum bid is $209 so that sounds great you know I can get two thousand dollars worth of product for $209 okay this is what you need to look at so go down here this is gonna be shifting Las Vegas a lot of these things are shipped from Las Vegas so it's fairly common look at the total weight the total weight on this is 446 pounds for this lot so I already automatically know that shipping on this is gonna be outrageous so what you can do is you go down here to shipping details you can pull that up and they'll show you the minimum shipping fee is $100 so automatically you know that you've got to add $100 to there so that's 390 alright so that sounds great wonderful well then ain't true let's click on this get quote will sign in and I'll show you how the shipping actually changes and this is what you need to look at and this is what can get a lot of people in trouble because I buy them and that realized how much the shipping actually is so the actual shipping for this is five hundred and forty three dollars and ninety six cents also you have to pay a $40 residential fee if you're not getting a ship to like a business and then you have to pay for two more dollars if you don't have a loading dock so now you're over $600 for shipping for this item so let's just say it's gonna be six hundred and fifty dollars for the shipping so 650 plus let's just say you bought it for three hundred dollars now you're gonna be at about a thousand dollars for that one palette that you thought that you won't pay 290 dollars for so that's something really really imperative that you understand when you're buying this a palette like this because first of all this is uninspected return so you don't even really know if all of these items are good so especially starting at $2,000 if you already paying $1000 forward with the shipping included you know it's going to take up a lot of your money and you're not gonna make nowhere near as much money as you thought you were if you didn't look at the shipping so very very important pay attention to the shipping when you're on liquidation comm nothing goes through everything here you can see you just choose a category you know consumer electronics you can click on that and you can go down and look at all of the pallets so these are gonna be more of the liquidation pallets the ones that look like this with just a hodgepodge of things in it these are like generally lights a lot of China or Chinese made things this right here here's a lot that you can look at so there's a bunch of different things that you can look at and you can find some really good stuff on here but you do have to spend some time and look on this website and understand exactly how this website works if you do plan on getting things shipped from here I'm gonna show you a couple more real quick wholesale ninja it's one that we've used before they're pretty easy to to use Hotel ninja comm you can click on it click here to shop now and pretty much what they do is they show you a little bit of what's going to be in the the palette so I like some general merchandise so you can see right here that they have there's a couple of different items they show so like this right here has the big Bratz dolls and some headphones and when we got the items from wholesale ninja these were actually case packed which means that they were brand new they actually came to manufacturers like cases so you can click on here and look at some of the different photographs of what you're actually going to be getting at you can see that this is probably target.com stuff I can see the yellow stickers that's a target sticker threshold brand this is target's um some of the stuff on here is probably target probably all of this stuff is target so you have to make sure you understand you know whether or not you can sell these things on whatever platform that you're going to sell them the last one we're gonna look at is quick lights a lot of people want to do being they wanted to get like dollar bands and different things like that quick quick lights is really good for buying those types of things so if you click on palettes they have electronics Pallister $3,000 power plug pellets which are actually pellets that are actually items that need to be plugged in BB and H which is like Babe Anthony on tight pallets bulk pallets with two really big items probably gonna be more of your face face book marketplace types of things stuff that you can't ship they have apparel they have shoes they have baby merchandise and they have phone cases so it's really cool the way that they have just really simple categories for things that you can get they also have cases they have mystery boxes which has any and everything in it we found a lot of good stuff in our mystery boxes we have done very well with the mystery boxes on here the good thing about the boxes so if we click on this you see the price is two hundred and fifty dollars for this mystery box it has between it has 100 items inside of this box and this is actually with Free Shipping so $250 is your total cost for this mystery box now it's not gonna be exactly you know what's on these pictures you know these are just this is just stuff that's inside of a box a general box that they have but we have found some really good items inside of these mystery boxes from quick lights so they have like I say mystery just mystery plus these a little bit bigger items then they have electronics which is really cool and then they have phone cases apparel and then branded apparel mystery boxes so that's one of the places that we use for our online sourcing all right so that is gonna be it for today guys this is gonna be part one of a multi-part series where I'm going to take you in depth of how to get liquidation pallets how to resell them and how to really get into the retail game if you are interested in doing that on this video rain kind of long so that's why I want to cut it off here but on the next video I've already got my next topics that we're gonna talk about so we're gonna talk about once you get the palette what you're gonna actually do with it that's gonna be unboxing it that's gonna be getting everything off of it how do you get the pricing where do you list your items what do you do with damaged items what do you do with items that may be missing parts or pieces so I'm really gonna dull really deep into that kind of stuff on the next video if you like those types of videos please like share and subscribe I really appreciate it also that Bella constant your notifications whenever I release new videos and also make sure that if you have any questions that you wanted me to talk about on the next video you put them down in the comment section below and I'll make sure I include those in the next video or somewhere in the series I'll try to answer these questions so I appreciate you guys see you on the next one [Music] [Applause] [Music]

Channel: T.J. Lovelady

Views: 55,428

Rating: 4.9689441 out of 5

Keywords: secret, reselling secret, learn reselling, how to start liquidation pallets, how to buy liquidation pallets, how to buy liquidation pallets from amazon, how to buy liquidation, liquidation, liquidation pallets, secrets to retail, customer returns, online arbitrage, bulq.com, reselling on ebay, reselling on amazon, liquidation on amazon, extreme unboxing, war on retail, sell on amazon, ebay seller, liquidation pallets electronics, liquidation pallets where to buy, tj lovelady

Id: Lvrvr_hNtcE

Length: 25min 37sec (1537 seconds)

Published: Sun Mar 01 2020