$1,000 Monthly from Couch Rental Income

0:00Save big money on your outdoor projects now at Menards. Create stunning patios, walkways, and retaining walls with our huge in-stock selection of durable concrete blocks. Ready to take home today. Plus, get free estimates with our easy-to-use design program. In-store or on Menards.com. Save big money in our 12-inch smooth patio block. On sale now through September 13th. Plus, check out our weekly flyer on Menards.com for more great deals happening now. Save big money at Menards. Welcome back to the podcast. Today we are talking about basically arbitrage with AI, how you can take AI to find undervalued items and then resell them for profit.

0:41This is something Jaden and I both have extensive experience with. Back in the day, I believe it was couches we both started with and furniture. But now AI has made the whole process so much easier and there's a lot of ways you can actually use AI to spin up a really pretty profitable little business. So we're going to get into that. But before you do, Jayden, why don't you tell them about our school community? Guys, we have relaunched our school community with completely new ideas, courses, concepts, content in there. We're super excited. We have relaunched it basically with a better way to understand all of the different side hustles that Jamie and I advise on and a lot of the different strategies that have been updated.

1:23If something if you if you've followed us for a long time, you know, we've been doing the school community for over two years. and if something about AI is true, it's that it is constantly changing. So we went and archived a lot of the older episodes. We've updated with newer content and we've left things that, strategies that are actually actively working today. So we have a whole bunch of courses on how to build your own app or build your own SaaS business. If you're a complete beginner and not a developer for the first time, this is something that we both did as non-developers. We have a playbook on how to become an AI consultant, how to create a podcast network, how to grow using AI, how to have AI models recommend your business or website to other people, and a whole bunch of other incredible things as far as using AI for paid traffic, like Facebook ads or free traffic, like different social media platforms, how to make good offers, landing pages, emails, AI for newsletters.

2:17We have done so much and we are relaunching the course with all of this incredible content. So if you want to go check it out, it is the AI Hustle school community. There's a link in the description. It's only$19 a month. So we try to make this really affordable for everybody. There's over 1300 members in the school community. So an incredible group of people that are all sharing what they're working on. And we would love for you to be one of them. Okay, let's talk about this. This is there's an awesome episode on the Chris Corner podcast where he's interviewing someone. This is something that Jamie and I both done.

2:47But we always love watching other people try things. His strategy or his side hustle in particular is going and finding going to Facebook Marketplace and finding people that are getting rid of washers and dryers for free. Now, I have been on both sides of this side hustle, by the way, because I actually live currently in North Carolina, but I have a couple rentals in Arizona and I have had washer and dryer issues with all of my rentals multiple times. I don't know why this happens, why this constantly happens to me, but I just feel like the washer and dryer breaks probably in the future. I'm just going to say people need to get their own washer and dryer.

3:26But regardless, what typically will happen because I don't want to I don't have time to go deal with it. I'm far away. I'll usually go and find someone on Facebook to take away the old one and to go put a new one in. I'll just try to find like one of these guys that will do the like the uninstall and the reinstall of a new one. Now, what do they do with the old one? In my mind, I'm like, it's broken. It had this issue. I probably should pay a repairman, but I hate paying a repairman for a washer or dryer that I usually go buy used on Marketplace anyways. So I'm like, I'm like, I'm just losing money.

3:56I'm just gonna get a new one. What they're doing with it, undoubtedly, is a portion of this business where they basically pick it up, see what's wrong with it, fix it and go install it in the next person's and they take the next person's away and they rinse and repeat that. That's not the whole business here. Their business in particular is just looking for free washers and dryers that people are getting rid of on Marketplace. And they go pick them up. sometimes they have issues sometimes they don't have issues and they're able to then go and resell them sometimes after some rehab but sometimes not jamie have you ever bought a washer and dryer off a marketplace and uh is this a good or a terrible business i have and i i've regretted i don't know if i've bought a used washer and dryer not something i i uh would recommend but it works for some people but i think you know the the whole point here with this business is you're finding something that someone's having a hard time getting rid of.

4:54It's big, bulky, and you're basically taking it off their hands, but then going and selling it. So do you know if in this video, is he repairing these and then selling them or is he just doing the arbitrage thing? What's the business model? Yeah, he actually goes and diagnoses them using a multimeter and then he does some just simple repairs. So maybe like a thermal fuse or a belt or heating element, you can go order those parts on Amazon. And then he can go and list them for sale. So he also he also will list them for rent. So sometimes if you're just a renter, and it doesn't come with a washer and dryer, he will let you rent his washer and dryer for$45 a month, which is really interesting.

5:41So he's getting a lot of these for free. He's doing some simple fixes to them. And then he's either renting them or selling them. And I think like a washer dryer rental is such an interesting idea because when that person moves out in a year or two, you get it back and you can go rent it to another person. But it is kind of a hassle to go and move and go do stuff. And I also think for a lot of people, it might feel intimidating to like, oh, go and fix a washer and dryer. But honestly, with AI today, this is not a big, it's not that crazy. You know, whatever its issue is, you can usually take a picture of it, send it to chat GPT, it'll tell you an accurate diagnosis of it, it'll tell you what pieces to order.

6:22And once you've done a handful of them, you get a pretty good idea, you can turn them up pretty fast. So he's making$10 ,000 a month or more on this. And then there's a lot of the passive income of just like the monthly rental side of this, which I have never thought of renting appliances. But it kind of makes sense. No, that's pretty solid. I mean, and you bring up a good point about fixing things with AI as well. I, last summer I fixed my air conditioner with like a$20 part from the hardware store. It's like some kind of transistor. It would have cost me probably 300 bucks to have someone out and fix it.

6:53Yeah. Yeah. Who knows? Told me I had to replace the whole thing. So, but let's say you're not mechanically minded. Let's say you don't want to do all that kind of stuff. There's still tons of opportunity. I'm going to show you something I just found on Facebook Marketplace as we are talking. But right here in my town, someone has, I searched just free on Facebook Marketplace, two free couches. They look like they're in pretty good shape here too. It looks like a loveseat and a couch, not heavily stained or anything. It says they're going to be to Goodwill if not picked up by September 10th. They look great.

7:32And in my mind, I'm like, this is easily just from, you know, spending a half an hour of your time to go pick these up. You could turn around and take a good picture of these and sell them for a couple hundred bucks. So easy all day long. You could do that. And then if I go over here to this is just the free section on Marketplace. There's some pretty decent stuff that you could go. This one here, free patio and chairs, free patio table and chairs. Zero dollars. You just go pick it up. that one in Michigan, you might have to wait till next spring to sell. But either way, there's tons of opportunity, especially in the free section.

8:08I will say a lot of these are larger items. So these aren't necessarily things you can just go sell on eBay or something. But if you're willing to hustle and put in the work, there's tons and tons of opportunity right in your local area. Yeah. And I actually saw an interesting an interesting video covering like that specific side hustle as well, where someone was saying, you know, they're making$300 an hour on that. I mean, it depends on how you count the hour, because you got to like find it and pick it up and sell it. So there's, there's parts to it. But you and I both have done furniture flipping, this is something that can make a lot of money.

8:45And I think specifically what has worked well for me in this, if I was to do it today, would be to get AI, Claude, or ChatGPT to go to the free section of Marketplace or even the paid section and find things that... And I would just say, go do your research on items. Look for ones that are either free or very cheap and go see what they're worth and what they're selling for. So basically let AI go and do the arbitrage for you and go message the people and negotiate the pickup and the time. And I mean, you could even give it a calendar and have it like schedule your pickups for you. There's a lot you could do.

9:25So personally, I have actually used AI to do outreach on Instagram. And it works great sending DMs, talking with people, scheduling them. If you kind of get your objective, I was doing stuff for my podcast studio. So I had a local business and I was messaging people about coming in and recording podcast episodes. And I had like certain target demographic. And honestly, it worked. I had at least nine people come into my studio from Instagram DMs and talk to them on Instagram. and we kind of had like a promotion for getting people in for the first time and a bunch of different stuff. But we had Claude running that whole process and sending people to sign up link, like doing the whole thing and we were just getting people added to our calendar with Claude.

10:03So whether you're doing something like that or something like this where you're getting stuff, I think there is using AI for kind of this marketplace, flipping arbitrage is a huge opportunity. So I would definitely highly recommend it. Yeah, and like you said, it doesn't have to be something free. Um, you could find just something undervalued. A lot of times, you know, I've seen a guy who does this with large industrial items. They'll find them locally on marketplace, but then sell them on eBay and actually ship them. He's found a way to ship things on pallets and stuff. And he makes crazy money doing that.

10:37So there's lots of different, you know, or you could go small too. If you don't want to mess around with lifting heavy things, um, you could find small stuff just as easy. You're just going to have to do more volume. Uh, but really this is the hustlers game. And, you know, I know Gary V even preaches this as like a great way to start your entrepreneurial journey is with reselling. So I think there's, there's tons of opportunity here and there probably always will be. So some of these tools like Claude make it even easier now. So hope you enjoyed this episode. Please be sure to leave us a rating or review wherever you're listening.

11:13We're trying to get to 200 reviews guys, and we're, we're getting there. So we'd really appreciate a rating, a review, and then also again, check out the AI hustle school community. If you want to learn some of the specifics about how we're taking some of these tools and actually making money on the side and growing our businesses with them. Thanks for listening. And we'll see you next time.