I like the sound of this, but don't have much money. I have been looking at www.megagoods.com If i start drop-shipping does this mean I don't have to pay for the first products? I'm quite confused. Please help.

You advertise the products, once you sell them your order them from your dropshipping supplier and then pay them. You keep the difference.

So the products that I order, I don't pay for until I have sold them? Also does www.megagoods.com look legit?

Use the advance search,there`s threads on the company.

Scott

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What do I need to do or know etc, before I sign up to something like megagoods?

Search this forum for articles on dropshipping. It's all there.

You need to research them first. This very forum is a good place to start. Once you have researched the company then research the products they sell. Make sure you can see their prices before you signup or at least ask tem to give you an example.

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DevilWear Dropshipping | Worldwide Pick & Pack Services Available, Please Contact Me | Shipping, Payment & Terms of Sale

Yeah I've got it. I have been told by members on this forum that the site is legit and I can also see the price of their goods before I sign up. Therefore I am ready to start, do you think?

When I advertise my item on ebay, do I state that the item is not in hand? and will be delivered in a couple of days or something?

No, dont mention that. Just say delivery 2-3 working days max. Dropshipping companies work quickly ( generaly)