Easy items:
Upon having a high level character with lots of good items and 
you would like a new character to have the same. Start a new game 
with the new character. Then, load the character with all the items 
as the second player. Then, drop the desired items on the floor to 
allow the new character to pick them up. Equip everything and sell 
off things that are not needed. Then, save the game and restart the 
Xbox. Play a new game with a new character and load the other new 
character (that has all the items) as the main character.

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