I can't stop buying dryers

I have a coworker that got me started in repairing appliances for resale. I started a couple years ago mainly fixing up electric dryers. I would get them by posting ads on CL to pickup scrap appliances and such. Some of the appliances I picked up were in good shape so I started listing them on CL and they would sell. Since metal prices have tanked, I quit posting ads to pick up scrap a long time ago plus, I was getting tired of picking up other peoples junk. I have done well reselling appliances so I have concentrated on finding free or cheap dryers to repair and resell. I look for units that are no more than ten years old. I don't bother with any older units cause they don't sell on CL around here and I don't want to sell older stuff that could have problems and have to deal with people wanting to get their money back.

Just in the past couple months I have bought 6 or 7 dryers that were listed on CL but needed repair. I have only had to pay $20-$30 for each dryer. I don't want to pay much more than that so I can make a profit after buying replacement parts. I have gotten a couple working appliances for free from friends and were able to clean them up and sell them. Back in the spring my own washer quit running. I found a washer and dryer set on CL only 3 or 4 years old for $150. They were the low end models but it what I needed. Of course, I didn't need the dryer but I bought them both. I replaced the dead washer in my house. I cleaned up the dryer a little and listed on CL. A couple days later it sold for $150. I am pretty happy with the free washer I have. It's a little noisy but it runs like a champ.

Just the other day, I bought the dryer on the left for $30. The guy had recently replaced the heating element and thermostat. Then it quit working. The guy initially wanted $75 for the dead dryer. Worst case, at least I could part it out and make my money back selling parts. I waited for a couple weeks and as I had figured, nobody wanted it. I new it could be an easy fix and it was. These newer digital dryers have a problem with the start relays blowing the traces off the circuit board causing an open circuit. Well, this was exactly the case with this dryer. So, I soldered a new trace on the board and now it works again. I will list it on CL and more than double my investment. The dryer on the right, I picked up for $25. It only needs a heating element which I can pick up online for $20-$30 dollars. I will repair and more than double my investment on that one as well.
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Sorry, I got a little long winded there. I just enjoy giving you guys some info on this forum. Thanks

A friend of mine makes a good living as a mobile repairman. The ONLY things he repairs are washers and dryers, that's it. He has a few heavy duty lockable totes in the back of his pick up that are locked to the bed. I am amazed he does so well. Think about how small of an inventory you would have to carry around with you. Here in this town there are two appliance parts stores. Good luck, Mike

A guy in the town where I'm working now stops in all the time to buy certain washers and dryers from us after we buy them from scrappers. he gives us money for them, more than we paid the client, fixes them up and resells them.

Some he buys for parts and he always brings us the scrap parts he doesn't need/use.

He must make a decent living fixing and selling them and he even goes to your house to repair something you bought from him or even if you didn't.

You got a good thing going OP.

Very cool!!! Good gig!

After taking a few of both apart, as well as dishwashers, I'm sort of amazed of what little is actually inside of them compared to what they taking in for cash retail. I'd like to see a wholesale invoice from a retail store that sells appliances for as well as what it costs the company to actually make them, including the averaged labor cost from all cost centers--the folks here in the States or Canada putting them together and all the 3rd worlders (excuse me, "developing worlders") making the various components...

Fixing dryers is pretty simple. My boss always said to find out what's in the black box.
find out how it works the internet is full of great tutorials. Find that wiring diagram learn the symbols
be cautious though if you have have a habit of bypassing fuses like some shops you might on the hook
for a house fire. Don't let that happen to you.

MikeD. I have fixed my neighbors washer and dryer a while back. Since she knows I repair them she has given my number to a property manager that she works with. He called me up and I went to one of his rentals and repaired a dryer. He paid for all the new replacement parts and paid me $50. I am sure he will call me again if he has other washers and dryers that need repair.

scrapdaddyj. I don't take any shortcuts when I repair and resell appliances. I don't want to burn anybodies house down because of a dryer I sold. Once I troubleshoot the unit and find the problem, I buy new replacement parts. The circuit board I mentioned in my op was a simple electronic repair that is better now than when it was originally manufactured. I have many years experience as an electronic technician. I won't sell anything that I wouldn't use in my own house. A year or two ago, I received a call from a repeat scrap pickup customer. He had a dryer that was bad. I almost blew him off as it was a late Friday evening when he called and my family and I were going out of town early the next day. He described the dryer and gave me the brand name. Once I heard the name I ran over to his place and picked it up. When we returned back to town, I opened the electrical panel to hook up a cord and start troubleshooting the dryer. One of the hot wires was badly burned and the terminal block was melted. I noticed the nut on the burned terminal was loose. I instantly knew what had happened. The loose wire on that terminal had been arcing and sparking and eventually created enough heat to burn things up. I replaced the terminal block with one I had salvaged and cut out the burnt wire and re-terminated it to the block. I connected the electrical cord and the dryer started right up. The dryer is a Maytag Neptune with all digital controls, was very clean and was in nice condition. It has been drying my clothes for over a year since I picked it up and repaired it. Fire scares people. The burnt up wire and melted terminal block did not bother me. I understood what had happened and I knew could safely repair it. I of course made sure that I tightened and secured the nuts on the terminal block. It would be bad enough if someone burned down their house, but it would really suck if I burned down my own house. :)

The only thing I don't like is when people sell good used working dryers for a cheap price. For instance, there is a good GE dryer about 5-7 years old on CL in my area right now. It is nothing special, just a good used dryer. It is listed for $75. For one, the guy could easily get $100 or more. For me, he is giving people the expectation that all used dryers should be $75. I understand this guy probably just wants to get rid of the dryer quick as he just bought a new one. I want to turn my units around quick but I can hold on to them until I get a good price for them. If he had listed it for $40 or 50, I may even buy it and flip it. Right now I have some dryers so I will not bother and wait for someone to buy the dryer I currently have listed.

As most of you guys know and what I have learned in the last couple years, there is good money to be made reselling items for more than scrap price. I wish I would have learned this years ago. Oh well, I enjoy what I am doing now and I am making a decent chunk of change while doing it. Cheers!!