Product Name: Arbitrage Underdog 5.0
Product Owner: Tom E & Chad Rego
Advertised Price: $29
What is it?
Arbitrage Underdog 5.0 is a software that allows you to search for and profit from service-based arbitrage deals. Basically it’s a software that searches Craigslist to find posts from those in need of a service, then it also searches Fiverr for sellers offerings gigs for the same type of services.
Arbitrage Underdog 5.0 consists of a piece of software and a training area. After testing the software and watching all the training videos I have to say that both are pretty great, especially for beginners who haven’t made much money online yet. The training is great and tool is even better.
Before You Buy
Arbitrage Underdog 5.0 has an upgraded version of their software called Arbitrage Underdog Reloaded Black Label Edition.
Now the Black Label Edition will cost you an additional $37 but it comes with a lot of added functionality.
For starters, the Black label Edition searches beyond Craigslist and Fiverr, it also searches posters and sellers on Elance, Odesk and Gumtree. It also allows you to search the entire country at once, instead of searching state by state.
The upgraded version comes with a lot of other useful benefits like email integration, but I won’t list them all here. You can look forward to a full review of the Black Label Edition soon.
What I Liked
Okay, I’ll admit, Arbitrage Underdog 5.0 is a neat little tool. It actually serves a purpose that is both, needed and hasn’t been done before. (that I know of).
What it Does
There seems to be a lot of buzz surrounding arbitrage online right now. I guess there’s always been a discussion about it but it seems to be gaining popularity. However, most of what you’ll hear about arbitrage is based on physical goods, not services. That makes this product somewhat unique.
The Arbitrage Underdog 5.0 software does two things:
- Searches Craigslist for posts from people looking to hire someone for a service.
- Searches Fiverr for sellers that offer that service.
So let’s say you open up the software and enter the term “logo” into the search bar. The software will then find all the posts from people needing logo creation. In the second pane the software will search Fiverr for gigs that offer logo creation.
All you have to do is contact the Craigslist poster, land the gig and then hire the seller from Fiverr. You bill the client, pay the Fiverr seller and of course, you keep the rest.
The fact that the software can handle both tasks — and fairly quickly — is one of the great things about it. But there’s one more thing that makes it truly useful.
Arbitrage Underdog 5.0/ Black label Video Review
I actually tried this out, just to see how well it would work in the real world.I searched Craigslist for “logo design” and found a guy looking for a simple design. I replied to him, told him I’d charge $25 and he agreed. I found a guy on Fiverr with a pretty good rating and hired him to do the gig. I paid a little extra because I wanted the logo delivered quickly.
Once I got the logo (about 35 hours later) I sent it off to the client. Surprisingly the process went smoothly. He loved the logo and sent the rest of the money to my PayPal account.
All in all it took me about an hour, and I made $15. So it’s not great money but it does work, and it’s a start! If I could manage learning in just a few hours, imagine what you can do by dedicating a few weeks to establishing good relationships with Fiverr sellers, and developing a sense of which buyers on Craigslist will pay the most.
If you go to Craigslist right now and search for something specific you’re likely to get back some mixed results.
Let’s say we use the same example as before and you searched for “logo”. The results you get back would be a variety of posts from people looking for logo creation, people looking to sell logo creation, and basically any post that simply contains the word “logo”.
The algorithm, which Tom mentions on the salespage, weeds out all those unwanted results. That’s a very important feature that, to be honest, I had my doubts about while watching the sales-video. But it really does work.
They have even added some features to the software to eliminate any unwanted posts in case they happen to slip by.
The ability to narrow your searched term to post title’s only is pretty nice. It refines the search so you’re not picking up every post that contains the word “logo”. Combine that with the “Remove spam/Dupes” feature and you’re pretty much guaranteed to only get results from sincere Craigslist posters.
However, I will say that during my testing I rarely found it necessary to use the extra features. The tool (or the algorithm I should say) does a pretty good job on its own.
When you buy this product you also get access to a members area. Inside, you can watch all the video training they created to help you learn more about the software, and how to use Fiverr and Craigslist.
I found the training to be very helpful. They teach you a lot about the platforms you’re going to be using, but they also discuss arbitrage in general — how to delegate tasks effectively, not get overwhelmed, etc.
They even provide some advanced training and copywriting tips to help you seal the deal with potential clients. There’s no fluff either. It’s concise, helpful information.
What I Didn’t Like
For what it is, I found Arbitrage Underdog 5.0/ Reloaded to be a pretty good product. It has downsides like any other product but I think the most important one is discussed below.
Quality control is one other problem that is likely going to be unavoidable when it comes to arbitrage of any kind, whether it be serviced-based or physical goods.
You always have to account for human error, pickiness and laziness. Let’s think about a few scenarios where this type of arbitrage could go wrong.
This is self explanatory but it’s worth mentioning.
You’re playing the middle man when it comes to arbitrage, and that means there’s three people involved, which triples the risk of something bad happening. I don’t mean to be a downer, but you’ve got to make sure your coordination skills are good! A late logo and you missing an email for a few days means your client may have to wait longer than expected.
Remember that when doing business through Craigslist you have no payment protection either. Even Paypal doesn’t guarantee payment for delivery of good, and CL certainly doesn’t get involved. A $15 logo you just purchased for a client that was supposed to pay you $50 (but didn’t) still costs you money, and eats into your profits.
This is the risk of pretty much any business, but it’s something to consider when you are going to be an independent contractor doing arbitrage.
The client is always right. Again, this is pretty obvious but it should be mentioned.
At some point you’re going to land a client who is very picky. It’s bound to happen, and probably more than once, depending on how often and how long you do this. You may find a client who is difficult to communicate with, never happy with anything and wants perfection. If your Fiverr gig only gives you two edits, but your client asks for 5…suddenly you are paying $10 or $15 for this logo instead of $5, and that cuts into your profit.
I have ordered lots of jobs on Fiverr and some guys are downright lazy. They want the low hanging fruit. I guess I can’t blame them for doing work for just $5. One time, I requested a re-do of an audi clip I wanted and the guy refunded my money because he didn’t want the potential bad review.
I guess these complaints are not about the Arbitrage Underdog software itself, so I can’t really count them against the product.
Normally this is not the type of product I endorse, as I prefer affiliate marketing. However, if you are looking to do arbitrage between Fiverr, Craigslist, and possibly other sites (that’s the Black Label edition), then this software could make a difference in your bottom line, saving you time, and helping you find high paying jobs.