Buying/Flipping concert tix

Does anyone else do this?  I decided to give it a try today for the first time. I bought 2 mastercard pre-sale beyonce tix for DC in the lower section (dead center - 100) for face value $253 a tix plus fees that came out to $285/tix.  I'm already seeing tix in my section selling for $365-$700 per.  Tickets open to the public on the 11th.  I'm assuming it will sell out that day or shortly thereafter.

A friend of mine said he's been doing it for a 2 years and only took a loss 1 time and has profited nearly 14k.  It almost seems too easy which makes me nervous.  I'm very confident that I'll be making at least $200/ticket.  I read an article where bieber tix with a face value of $36 were selling for $1,700.

Anyone that can share any insight about potential pitfalls or ways to maximize value---please share.  Thanks.

I am a mastercard holder so on tickermaster I could use code "masterbey" and purchase them.  I logged in exactly at 10am and best available kept taking me to the 400 (upper-bowl) level but I randomly (well not so random as my friend who's been doing it had another friend post that she got 2 lower bowl tix on instagram - so I thought maybe I had a shot) tried again in the afternoon and the tickets I purchased were available. 

I also paid $2.50 (ebay) for the pre-sale code today that opens at 10am.  This was before I realized that mastercard had a pre-sale yesterday but may see what other tickets are available. 

Quote Originally Posted by timbaland99:

I have been interested in doing this myself, but I haven't done so yet. 

I think you will be able to be successful at this if you stick to buying and selling GOOD seats only. Don't buy too many tickets for one event and don't spend your money buying the nosebleed seats. 

You have an advantage being able to buy tickets before they go on sale to the general public. How do you get the tickets before the public? Is this a promo or incentive for a particular MasterCard?

Good luck,  and let us know how this turns out. 

Yes, yesterday - Masterbey was the code.

Today, Dazzle is the code. I think fan club members (who may pay an annual fee) get this code.  I bought mine on ebay for "best offer" $2.50.

Will do. 

I attempted to purchase additional tix today through the live nation pre-sale and had zero luck finding any tickets. After researching stubhub a bit more and seeing that there's a 15% fee to sell and a 10% buyer premium, I'm thinking a bit more about craigslist but only if the buyer will use paypal.  Ticketmaster allows me to transfer the tix securely so this combo could work while allowing me to maximize value.  I will try to purchase tix one more time one Monday when they are open to the general public and then I will decide how/when I'd like to sell the tickets that I have.