View Full Version : $1,000 Money Challenge
The $1,000 Money Challenge.
This is not a contest, it is a challenge.
I'll make the intro as short and to the point as possible.
Challenge:
How much money can you make in 12 months, starting with $1,000?
Rules:
- You can start with no more than $1,000
- Must be legal
- You can use your $1,000 to contribute to a company, group, or other collective way to make money, but any money over your initial $1,000 must come from some where else. In collective investments, you may only count profits that match the percentage of your initial investment. (Example: You and two other friends all contribute $1,000 to start a food cart. The cart makes a profit of $30,000 over 12 months. Your profit is $10,000 for the purposes of the challenge.)
- You are not restricted to just one transaction. (Example: You spend $800 to build an AR, sell it for $1,300, and it only takes 30 days. You can do this over and over again.) Any money you make off your first $1,000 is fair game for further investments. Using the AR example, you now have $1,300 for your next investment.
Notes:
- This is not an exercise in money management, savings, or wise spending. This is an exercise in making money.
- The goal is to make as much money as possible in 12 months, so buying bonds, contributing to 401ks and IRAs, or any other retirement type of savings/investment will not be likely to yield high results.
- This challenge is to push yourself to learn methods of making money. The idea is that participants can freely share ideas and motivate each other. If you'd rather not share your methods or ideas, that is fine. However, regular status updates would be encouraging for everyone.
- This thread may be used to discuss ideas and encourage each other. Let's try to keep it on topic. Let's see what everyone can do.
One of the guy I know bought a Fannie Mae (FNMA) last year, and already made 1200%.
I am long on Advanced Micro Device (AMD) right now.
I am planning to hold till at least late Dec 13' this year. I might have to buy some put option around 4Q13, because I think market will have a huge correction around that time.
If I want to do a hailmary pass on $1k, I would definitely buy Fannie or Freddie and see.
http://i41.tinypic.com/9sqe08.jpg
http://i42.tinypic.com/303lptv.jpg
The housing market will certainly be interesting to watch this year.
Lost me at legal..........[Coffee]
Sharpienads
05-29-2013, 07:05
Making money is the easy part. Cleaning the money is more difficult. Anybody know a good money launderer?
Making money is the easy part. Cleaning the money is more difficult. Anybody know a good money launderer?
BitCoin
encorehunter
05-29-2013, 08:18
I am going to purchase a high efficiency washer and dryer with my $1000. I will then launder all of Sharpienads money with a 30% fee. My hope is he has more money than me. At the end of 12 months, I will sell the washer and dryer for $900 on Craigslist.
tmleadr03
05-29-2013, 08:22
So my shop needs a second lift. Sadly the lowest I can find that is 2100 shipped. So if I "contribute" 1000 to the lift does that mean any car that gets worked on on that lift in one year I can use 50% of the profits from that towards the contest?
I started this challenge on Monday 5/20, well at least one iteration of it...
I knew I needed to re-balance anyway, and am expecting to see the market trend change any day now, so I went heavy in a pimco short fund (PSTIX) *among others*. It is at an all time low due to the ongoing bull (BS) market, so $1000 got me 317 shares. On May 20, 2014 we can see what that 317 shares has become...
I'll keep on the lookout for a beater car to flip, as well as damaged macbooks/macbook pros/ipads, etc and see what I can do there too...
Great-Kazoo
05-29-2013, 08:45
Returned an invest 24 hrs later. I'm out.
The down side of this thread is anyone who post "profit" has their shit out there for everyone to see.
Well today is going to start me off nicely...markets are down 1% and falling.
encorehunter
05-29-2013, 11:22
Ok, I can't stop thinking about this challenge now. Do you want us to do this off of straight investment, or are we allowed to purchase, work on, then sell? If so, I think we should keep track of hours to show that there was time involved.
I always like making money, even if there is some hard work involved. Thank you for racking my brain thinking up of more ways to make money.
Ok, I can't stop thinking about this challenge now. Do you want us to do this off of straight investment, or are we allowed to purchase, work on, then sell? If so, I think we should keep track of hours to show that there was time involved.
I always like making money, even if there is some hard work involved. Thank you for racking my brain thinking up of more ways to make money.
Just sell some of your collection...
encorehunter
05-29-2013, 11:41
Just sell some of your collection...
I was thinking about doing that to raise the first $1k, that way the Mrs.s doesn't know about it.
I was thinking about doing that to raise the first $1k, that way the Mrs.s doesn't know about it.
lol, well if you have a P30, or Hk45, I'll help ya really quick...
encorehunter
05-29-2013, 12:28
lol, well if you have a P30, or Hk45, I'll help ya really quick...
I don't have any on those junky handguns. I was thinking about selling that pristine Lorcin or the beautiful Raven I have.
Tmleader: The scenario you describe would not qualify for the challenge, but no one should be passing up great opportunities, nor things that need to be done, like your lift, just to fit into the.challenge.
Encore: What you described is a perfect idea for the challenge and well within the rules. As you noted, the point of this challenge is to motivate, stimulate, and illustrate.
Jim: You are correct about posting profits. Everyone can handle that issue as they see fit, but I certainly don't want to see people getting caught up in unnecessary audits over this. My hope is that people will make enough money that even if they end up paying income taxes on the profits, they are still better off than before.
Note: It is important that everyone keep track of all the money, for the simple purpose of not only tracking what you make, but where it goes. What good does it do you to make money if you spend it all on getting extra fries every time you go out to eat? It doesn't matter how, or if you spend your profits, just keep track.
One Shot
05-29-2013, 13:49
Should be a fun thing to do...will probably get the wife involved as well..I will post more when I come up with something.
Voception
05-29-2013, 14:12
What if...
What if I have spent the last 2 years writing software for a new company, and am about to launch with funny enough a $1000 seed to fund it in about 2 weeks. Will that qualify for the challenge.
I started this challenge on Monday 5/20, well at least one iteration of it...
I knew I needed to re-balance anyway, and am expecting to see the market trend change any day now, so I went heavy in a pimco short fund (PSTIX) *among others*. It is at an all time low due to the ongoing bull (BS) market, so $1000 got me 317 shares. On May 20, 2014 we can see what that 317 shares has become...
I'll keep on the lookout for a beater car to flip, as well as damaged macbooks/macbook pros/ipads, etc and see what I can do there too...
You're bearish? :)
Currently ,I am shopping for Jan 2014 put options to protect myself for possible huge correction around end of 3q.
When I saw technical, I was warning everyone when S&P500 goes upto 1650ish, we will see a correction.
However, too many retail investors are on the sideline watching the market with cash on their hand.
It is all short term/day traders, and institution at this time.
I enjoy listening to Bill Gross and Mohamed El-Erian.
So... If I took a thousand dollars, and bought twenty fifty dollar hookers for a night, and then charged the kids at the campus a hundred dollars for thirty minutes... and did this all night..... would that count?
tmleadr03
05-29-2013, 15:51
So... If I took a thousand dollars, and bought twenty fifty dollar hookers for a night, and then charged the kids at the campus a hundred dollars for thirty minutes... and did this all night..... would that count?
There is a legal caveat.
ChunkyMonkey
05-29-2013, 15:55
I just leveraged $1000 as earnest money on a property 3 days ago. It's on :)
I do not have the thousand but am going to do a mini version with 100 bucks and see what I can come up with
So my shop needs a second lift. Sadly the lowest I can find that is 2100 shipped. So if I "contribute" 1000 to the lift does that mean any car that gets worked on on that lift in one year I can use 50% of the profits from that towards the contest?
I bought my last 2 lifts from these guys
http://www.gesusa.com/
they will "make a deal" on the phone, and shipping on lifts was free when I bought
I bought a used glock today. while checking the gun out today, a coupl people walked by and I asked them if they had any money I could borrow.
I got a Rolex, a diamond ring and $1200 in cash. I asked for an address so I could pay them back and they told me not to worry about it. so in day 1, I made about $15k. I think I'll try it again tomorrow
tmleadr03
05-29-2013, 17:25
I bought my last 2 lifts from these guys
http://www.gesusa.com/
they will "make a deal" on the phone, and shipping on lifts was free when I bought
This is the one I have now.
http://www.gregsmithequipment.com/Atlas-9OHSC-SS-Overhead-Two-Post-Car-Lift
2100 was about what it cost after I picked it up from Henderson shipping depot myself with a Home Depot truck.
I do not have the thousand but am going to do a mini version with 100 bucks and see what I can come up with
That's what I started with back in September of last year.
Chunky, closing on an 8 unit building on Friday. I've got $0 into that. :D
ppssshhh... I couldn't even come up with the $1K to start, and if I did, it'd go to debts, HAHA! Good luck guys, be interesting to see what you can do!
ppssshhh... I couldn't even come up with the $1K to start, and if I did, it'd go to debts, HAHA! Good luck guys, be interesting to see what you can do!
You'll never make any money by saying that you can't. Part of the reason I started this challenge is because I have motivation issues, and people around me being creative and motivated helps me to do the same.
If Radio Shack stock (RSH) performs better than any of these investments mentioned YTD, I would laugh. :D
Voception
05-29-2013, 19:38
So i guess my 2 years of coing work doesn't count LOL cool opened a bank account last week dropped in 1k yesterday. Lets see what happens.
PS any of you guys real estate agents, you can contribute to my new business. Promise you won't regret it.
Great-Kazoo
05-29-2013, 19:41
ppssshhh... I couldn't even come up with the $1K to start, and if I did, it'd go to debts, HAHA! Good luck guys, be interesting to see what you can do!
I know a good Loan Co.
encorehunter
05-29-2013, 20:01
ppssshhh... I couldn't even come up with the $1K to start, and if I did, it'd go to debts, HAHA! Good luck guys, be interesting to see what you can do!
Start with $10 at garage sales or other small things you can think of. Buy with profit in mind. I have done this for years of thinking of making a few extra bucks, but I have never extended the time to a year. It has always been make a few bucks now to help with current bills. If you are able to make $100-500 out of that initial $10 investment, use it to help with the bills. If you loose, you are only out $10, not $1000. You can base everything off of a percentage instead of amount of cash. If you sell your $10 item for $20, you have made a 100% profit.
Voception
05-29-2013, 20:48
Start with $10 at garage sales or other small things you can think of. Buy with profit in mind. I have done this for years of thinking of making a few extra bucks, but I have never extended the time to a year. It has always been make a few bucks now to help with current bills. If you are able to make $100-500 out of that initial $10 investment, use it to help with the bills. If you loose, you are only out $10, not $1000. You can base everything off of a percentage instead of amount of cash. If you sell your $10 item for $20, you have made a 100% profit.
Funny story...
When I worked for Comcast years ago I found a brass beetle at a garage sale. A small pendent looked old got it for a quarter, we called it the scarab at work. I put it on ebay with a very cool story I had a co worker write. Since he was an journalism major and didn't do $hit with his degree I gave him the gist of what I wanted. So the story grew to this fable about my great grandfather finding this pendent in an Egyptian tomb and soon after died of mysterious causes. Years later my grandfather found the beetle in a box and soon died. The back story was the pendent was cursed and anyone that owned it soon died. Bidding started at a dollar and ended up going for over $300. My co-workers were freaking in shock about it and we ending up putting more crap for sale, a hunted coke can that had a ghost trying to escape, LOL stupid coke can that was dropped and bulged out. A can of soup with missing label, and so on.
Long story short, people on eBay are stupid and will buy anything.
Voception
05-29-2013, 20:48
LOL last post 69!!!! woot
ChunkyMonkey
05-29-2013, 20:58
That's what I started with back in September of last year.
Chunky, closing on an 8 unit building on Friday. I've got $0 into that. :D
Congratz..now the headache begins!
encorehunter
05-30-2013, 09:27
The Mrs.'s informed me that she is in on this now, so I won't be able to do the full $1000 right off the top. I will add to the initial amount when I can until I am able to make the total $1000. The Mrs.'s and I bet a $50 massage for who wins. Both of us will get a massage, so I see it as a win win either way.
You don't have to start with $1,000, just can't go over.
Superorb
05-31-2013, 14:46
Chunky, closing on an 8 unit building on Friday. I've got $0 into that. :D
How?
We just want a house of our own to live in. We're sick of throwing money away on rent every month paying someone else's mortgage.
Funny story...
When I worked for Comcast years ago I found a brass beetle at a garage sale. A small pendent looked old got it for a quarter, we called it the scarab at work. I put it on ebay with a very cool story I had a co worker write. Since he was an journalism major and didn't do $hit with his degree I gave him the gist of what I wanted. So the story grew to this fable about my great grandfather finding this pendent in an Egyptian tomb and soon after died of mysterious causes. Years later my grandfather found the beetle in a box and soon died. The back story was the pendent was cursed and anyone that owned it soon died. Bidding started at a dollar and ended up going for over $300. My co-workers were freaking in shock about it and we ending up putting more crap for sale, a hunted coke can that had a ghost trying to escape, LOL stupid coke can that was dropped and bulged out. A can of soup with missing label, and so on.
Long story short, people on eBay are stupid and will buy anything.
Collectors.
I sold free Norwest Bank money bag for $40+ on eBay.
I am planning to sell all my Washington Mutual stuff on eBay for premium.
ChunkyMonkey
05-31-2013, 15:09
How?
We just want a house of our own to live in. We're sick of throwing money away on rent every month paying someone else's mortgage.
Revenue producing commercial property is different. it is a cash purchase or hard money loan.
Look into VA or fha for your first home
uhhhhhhh.... I checked eBay on WAMU products. Still not reaching premium. I probably need to wait for 5 more years till I can sell all the WAMU free items I've received.
Collectors.
I sold free Norwest Bank money bag for $40+ on eBay.
I am planning to sell all my Washington Mutual stuff on eBay for premium.
Superorb
05-31-2013, 22:27
Revenue producing commercial property is different. it is a cash purchase or hard money loan.
Look into VA or fha for your first home
Now that PMI will live for the life of the loan we're trying to save up to put 20% down. Neither of us qualify for a VA loan.
Revenue producing commercial property is different. it is a cash purchase or hard money loan.
Look into VA or fha for your first home
What he said basically. I don't even own my own home. We will by August though.
ChunkyMonkey
05-31-2013, 22:42
Now that PMI will live for the life of the loan we're trying to save up to put 20% down. Neither of us qualify for a VA loan.
Still better than rental. Also google LPMI mortgage
Superorb
05-31-2013, 22:47
Still better than rental. Also google LPMI mortgage
Very true. We're sick of throwing money away every month paying someone else's mortgage. I have enough in savings to cover 20% but I don't want to spend everythign and not have an emergency fund. Looking up LPMI now.
encorehunter
06-03-2013, 11:02
The Mrs.s' and I started on June the 1st with our investing. I was able to invest $7.50 on Saturday. My return was $242.50. The Mrs.s' didn't make anything yet.
The Mrs.s' and I started on June the 1st with our investing. I was able to invest $7.50 on Saturday. My return was $242.50. The Mrs.s' didn't make anything yet.
Nice! What did you buy for $7.50 that you sold for $250? That's a kick ass return! You must have been garage saling?
encorehunter
06-03-2013, 12:16
I bought silver and gold. I would have invested a lot less, but I am still learning on what to look for. I would have got away with $2.75, because I was wrong on a couple pieces. Yes, I was garage saleing.
Wow, great work already! Are you going to keep some sort of spread sheet to track what you've made?
encorehunter
06-03-2013, 12:26
I am writing it down in a little notebook to see what is spent, bought and the price sold for.
Funny story...
When I worked for Comcast years ago I found a brass beetle at a garage sale. A small pendent looked old got it for a quarter, we called it the scarab at work. I put it on ebay with a very cool story I had a co worker write. Since he was an journalism major and didn't do $hit with his degree I gave him the gist of what I wanted. So the story grew to this fable about my great grandfather finding this pendent in an Egyptian tomb and soon after died of mysterious causes. Years later my grandfather found the beetle in a box and soon died. The back story was the pendent was cursed and anyone that owned it soon died. Bidding started at a dollar and ended up going for over $300. My co-workers were freaking in shock about it and we ending up putting more crap for sale, a hunted coke can that had a ghost trying to escape, LOL stupid coke can that was dropped and bulged out. A can of soup with missing label, and so on.
Long story short, people on eBay are stupid and will buy anything.
Glad you are proud of outright lying to people....asshole. [Shake]
Great-Kazoo
06-04-2013, 15:22
Glad you are proud of outright lying to people....asshole. [Shake]
Seriously? he placed an item 4 sale with an outrageous story line. The buyer went for it w/out any hesitation. He spun a yarn, don't like it, like the trading post prices, don't buy it.
I have old AK parts that were rumored to be made with steel melted down from the Kremlin's door hinges.
HoneyBadger
06-04-2013, 15:27
I have old AK parts that were rumored to be made with steel melted down from the Kremlin's door hinges.
How much do you want for them???
:D
TheWeeze
06-04-2013, 15:57
Going to Vegas next month, we'll see what $1,000 turns into on the tables.
HoneyBadger
06-04-2013, 16:02
I bet $1000 you come back with less than $1000...
[Coffee]
I am thinking about buying AMD 4.00 or 4.50 JAN14 CALLs.
Still finding out when and expiration date.
ChunkyMonkey
06-23-2013, 12:06
Bump... first flip is due next week. $1000 initial investment - will post the result and copy of check from title company here. [Coffee]
So far I'm down about $500.
I am thinking about buying AMD 4.00 or 4.50 JAN14 CALLs.
Still finding out when and expiration date.
So far I'm down about $500.
Buy AMD JAN 14 4.50 CALL.
I don't know what that is, is it a stock?
Options.
https://en.wikipedia.org/wiki/Option_(finance)
http://finance.yahoo.com/q/op?s=AMD&m=2014-01
However, if you never bought the options before, I would just take a look at the stock. Options are like contract to Guaranteed to buy(call)/sell(put). It is like contract.
encorehunter
06-25-2013, 09:07
I haven't found anything in the last couple of weeks. I picked up a Citizen eco-drive womens watch for $2, think I could get $40 for. The Mrs.'s saw it, now I am out the $2. [Bang]
Note to self, if you are buying jewelry for profit, don't let the Mrs.'s see it before it is being sold for profit.
PugnacAutMortem
06-25-2013, 09:59
This sounds like a kick ass challenge. I am going to have to wait until august to get in on this guy (bonus comes in!) but I have been wanting to invest ever since I got married 3 years ago. Things just keep coming up (kids, hospital bills, car repairs).
As expected everyone is kicking my ass so far.
ChunkyMonkey
06-26-2013, 12:24
We netted 2500% return on the first round of initial $1000. I texted Irving the proof [Flower] Stu, being challenged is actually fun and encouraging! So thank you!
Welcome. That's why I started the thread. Encourage others and hope to learn and benefit myself.
We netted 2500% return on the first round of initial $1000. I texted Irving the proof [Flower] Stu, being challenged is actually fun and encouraging! So thank you!
impressive....
RCCrawler
06-26-2013, 22:04
We netted 2500% return on the first round of initial $1000. I texted Irving the proof [Flower] Stu, being challenged is actually fun and encouraging! So thank you!
So you invested nothing but $1,000 and walked away with $26,000?
ChunkyMonkey
06-26-2013, 22:25
So you invested nothing but $1,000 and walked away with $26,000?
Yep.. $1000 wasn't even an investment.. it was an earnest deposit.
JM Ver. 2.0
06-26-2013, 22:28
I haven't found anything in the last couple of weeks. I picked up a Citizen eco-drive womens watch for $2, think I could get $40 for. The Mrs.'s saw it, now I am out the $2. [Bang]
Note to self, if you are buying jewelry for profit, don't let the Mrs.'s see it before it is being sold for profit.
Tell me about it.... paid under $2. Discovered the tags later..... girlfriend saw it. It's all hers now. Even though it's way too big.
http://img.tapatalk.com/d/13/06/27/a6egyvap.jpg
http://img.tapatalk.com/d/13/06/27/edudyqyb.jpg
Sent from my teepee using smoke signals.
RCCrawler
06-26-2013, 22:29
So you bought a piece of property, closed on it, invested no additional money into it, then sold it, and walked away with $26,000 with no further obligations? Realtor fees, closing fees, title fees, mortgages, ect?
ChunkyMonkey
06-26-2013, 23:14
So you bought a piece of property, closed on it, invested no additional money into it, then sold it, and walked away with $26,000 with no further obligations? Realtor fees, closing fees, title fees, mortgages, ect?
70% ltv hard money 12% w balloon @50% ltv purchase. Using the 20% to finance the fix up to be handicap accessible and 1 mo payment. Sold it to the lined up buyer ready for his special need at appraised value. 25400 is the net after all the third party costs plus if you want to add my origination fee on the new loan, it would have been more. I am a banker, she is a realtor.
Like any other property investors, I was doing this 3-4x a year prior 2008. Now that the market is back, hard money investors are hungry, so its a matter of finding that great deal.
Irving did you secure the 8 units with hard money balloon too?
Not exactly. We put approx 1/3 down with peer2peer money by swapping self-directed IRA funds. For the remainder of the loan we were able to get a 15 year P&I loan from 1st Bank. The Peer2peer agreed to match the P&I loan time frame.
As you probably know, the commercial loans just recently changed, as before, you would get an interest only loan amortized at 25 years, but for only 5 years. So you'd have to refi every 5. We anticipated either seller carry and p2p 5 year balloon, or commercial loan that we'd have to refi (or sell) every 5 years and p2p 5 year balloon.
ChunkyMonkey
06-26-2013, 23:28
Call me before the 5 year balloon is up. When it comes to money making properties there are only 3 banks in town that will do the loan.
I wonder how the IRA works as partial investment. I have only done sole ownership.
We need 6 series members in this thread.
There is no balloon that I know of. Don't you worry, we'll get together enough about stuff like this.
ChunkyMonkey
06-26-2013, 23:32
The current commercial loan you have is 5/25.. Which is 5 year balloon (due date) but amortized for 25 years.
70% ltv hard money 12% w balloon @50% ltv purchase. Using the 20% to finance the fix up to be handicap accessible and 1 mo payment. Sold it to the lined up buyer ready for his special need at appraised value. 25400 is the net after all the third party costs plus if you want to add my origination fee on the new loan, it would have been more. I am a banker, she is a realtor.
Like any other property investors, I was doing this 3-4x a year prior 2008. Now that the market is back, hard money investors are hungry, so its a matter of finding that great deal.
Irving did you secure the 8 units with hard money balloon too?
House flipper! :)
Oh yeah!!!! I remember a forum member who was a professional house flipper here. He was on a CNBC if I recall.
I think he was selling his firearm here , and said "I am here to sell my firearm, not to make a friend"
http://www.ar-15.co/threads/35238-Let-s-try-again
He later apologized. No biggie.
My question is, do you work at a same firm? j/k [LOL]
The current commercial loan you have is 5/25.. Which is 5 year balloon (due date) but amortized for 25 years.
No, it is a straight 15 years principal and interest loan. If we kept the property for 15 years, it'd be paid off at the end. Those billboards you see that say "15 is the new 30," are referring to that loan.
ChunkyMonkey
06-26-2013, 23:38
I misread the 2nd paragraph. Fixed commercial loan.. Damn. It used to be limited to 4 unit max. Learnt something new!!!
I'm under the impression it is a brand new thing they are doing. They told us "no" I think 4 times before they called us and said, "We can do this, let's move forward." It was weird. You know who to ask if you want more details.
ChunkyMonkey
06-26-2013, 23:41
House flipper! :)
Oh yeah!!!! I remember a forum member who was a professional house flipper here. He was on a CNBC if I recall.
I think he was selling his firearm here , and said "I am here to sell my firearm, not to make a friend"
http://www.ar-15.co/threads/35238-Let-s-try-again
He later apologized. No biggie.
My question is, do you work at a same firm? j/k [LOL]
I know a few guys like him. I am far from it.. They are my staple. I have lost enough money in properties that we only pull the trigger when it's a sure thing. Lately has been Medicaid sponsored housing for the special need.
ChunkyMonkey
06-26-2013, 23:43
I'm under the impression it is a brand new thing they are doing. They told us "no" I think 4 times before they called us and said, "We can do this, let's move forward." It was weird. You know who to ask if you want more details.
Must be... I am looking at my product sheet.. Cannot find anything close to that term in commercial.
I give huge prop for people who invest (savings) into the residential/rental/commercial property.
As for me, I just can't do it. Too long and much process just to buy a cheap town home.
When we bought a house, it was one of the top 10 most stressful event for me.
It is also not liquid enough for me.
Biggest reason for me not getting into it is the damn commission. ~2.8% if DIY. ~6% to sell the house.
For an example, I can sell a 250k worth of stock/REIT/ETF for ~$9.99, but it will cost me ~$15k commission to sell a house. :(
Well, hopefully I will get into real estate soon. I am real light on properties, and too heavy on securities.
Superorb
06-27-2013, 14:48
Wife and I just want a house to live in to get out of this townhouse. Sick of throwing money away on rent each month.
I dont look at fix and flips. I fix and hold. 10-50% annual return. Income while it appreciates
That way people can throw their money away my direction.
I give huge prop for people who invest (savings) into the residential/rental/commercial property.
As for me, I just can't do it. Too long and much process just to buy a cheap town home.
When we bought a house, it was one of the top 10 most stressful event for me.
It is also not liquid enough for me.
Biggest reason for me not getting into it is the damn commission. ~2.8% if DIY. ~6% to sell the house.
For an example, I can sell a 250k worth of stock/REIT/ETF for ~$9.99, but it will cost me ~$15k commission to sell a house. :(
Well, hopefully I will get into real estate soon. I am real light on properties, and too heavy on securities.
JM Ver. 2.0
06-27-2013, 15:19
Probably spent about $75-$80 on stuff that I've resold for $480 so far...
JM Ver. 2.0
06-27-2013, 16:47
Sold (last 60 days)
Listed: 25
Sold: 25
Amount: $454.65
Total sales (Last 60 Days):
$454.65
Did the math... $85 worth has been sold for the above $454.65.
Still have about $40 outstanding product not sold or not listed yet.
Cool part about eBay is, if you sell 200 items AND under $20,000, you do not get 1099-k
tax free. :)
It use to be all tax free, but stupidGovt changed that last year.
Sold (last 60 days)
Listed: 25
Sold: 25
Amount: $454.65
Total sales (Last 60 Days):
$454.65
Did the math... $85 worth has been sold for the above $454.65.
Still have about $40 outstanding product not sold or not listed yet.
SHORT BITCOIN ETF when it comes out.
http://finance.yahoo.com/blogs/breakout/winklevosses-trying-bring-bitcoin-mainstream-investors-171834667.html
SHORT BITCOIN ETF when it comes out.
http://finance.yahoo.com/blogs/breakout/winklevosses-trying-bring-bitcoin-mainstream-investors-171834667.html
Interesting article you linked. Interesting in that the one guy in the video seems to absolutely hate Bitcoins, and the author of the article doesn't seem to understand how they actually work. Are you thinking you could make money on this very short term while people are flocking to see what the big deal is, then get out before everything settles down again?
Interesting article you linked. Interesting in that the one guy in the video seems to absolutely hate Bitcoins, and the author of the article doesn't seem to understand how they actually work. Are you thinking you could make money on this very short term while people are flocking to see what the big deal is, then get out before everything settles down again?
I understand majority of investments, even those complicated derivatives, to how cds and mbs works . However, I read over 10 articles about bitcoins , and I still do not understand the concept well.
Well, "Shorting" is basically going against the specific investment. Selling the shares do you not have, and cover at lower price. It is bearish move.
Basically, If I short 1000 shares (from etf) of bitcoins at $100, and cover at $40, I made $60/sr.
I am not that familiar with that kind of thing. Is that like relying on trends, or like when the people selling stock bundles were investing against them because they thought they would fail?
I am not that familiar with that kind of thing. Is that like relying on trends, or like when the people selling stock bundles were investing against them because they thought they would fail?
\
Well, nice way to say it was , They were hedging.
Yeah, that's the term I remember. So same thing on this EFT right?
Yeah, that's the term I remember. So same thing on this EFT right?
THis is a good article for ETF shorts.
https://www.fidelity.com/learning-center/etf/selling-short-etfs
ChunkyMonkey
07-09-2013, 11:11
A quick update.. we decided to put the fund gained from the last flip to pay down one of the properties where the in laws are renting from us. Then, we'll redo the loan into reverse mortgage under their name. $1500/month payment gone!!!
JM Ver. 2.0
07-09-2013, 11:29
With the current bids.... I'm over $600 in profit in two months. This all from about a $100 investment.
Sent from my teepee using smoke signals.
just spent my last $1000 towards wifes masters! She finishes this summer....total investment probably $15,000 just for the masters. total return = unknown!
just spent my last $1000 towards wifes masters! She finishes this summer....total investment probably $15,000 just for the masters. total return = unknown!
15k for a masters isn't a bad investment at all. Congrats to you both.
15k for a masters isn't a bad investment at all. Congrats to you both.
thanks, I am just tired of paying the bill every 4 months! glad it is over so now I can get more sweet toys!
thanks, I am just tired of paying the bill every 4 months! glad it is over so now I can get more sweet toys!
[Beer]
keylay31
07-09-2013, 23:18
Tagging this thread for future use. When I have a bit more money, I'm going to play as well.
CM, I'm buying a house this month for myself, do you hve any advice? I her about people paying off mortgages in short periods of time with different types of loans like HELOCs. I'm set up for a 30yr fixed, but haven't closed.
BuffCyclist
07-09-2013, 23:51
Tagging this thread for future use. When I have a bit more money, I'm going to play as well.
CM, I'm buying a house this month for myself, do you hve any advice? I her about people paying off mortgages in short periods of time with different types of loans like HELOCs. I'm set up for a 30yr fixed, but haven't closed.
You can pay off your mortgage faster by doing split payments. It does half of a full payment every 2 weeks, so you end up making 13 full payments per year instead of 12. In addition, if you can add extra towards principle, that will knock it down much faster.
ChunkyMonkey
07-10-2013, 00:26
Tagging this thread for future use. When I have a bit more money, I'm going to play as well.
CM, I'm buying a house this month for myself, do you hve any advice? I her about people paying off mortgages in short periods of time with different types of loans like HELOCs. I'm set up for a 30yr fixed, but haven't closed.
Those were the days when we were still able to secure first position lien HELOC. Simply put, you deposit your paycheck directly into the heloc hence lowering that month principal balance in which the interest is based upon - meanwhile you still make sure a full monthly payment is still being applied (less interest that month = more payment toward principal).
This 'trick' is highly depending on your payroll amount and interest of heloc to make it work. I did try it once.. had a 87k heloc on first position, and yes it was being paid down aggressively by the system. Good luck finding a bank that will do heloc purchase though.
Anyone a millionaire yet?
Great-Kazoo
11-15-2013, 00:08
Anyone a millionaire yet?
No, but i'm paying off our mortgage. [Beer]
Anyone a millionaire yet?
nope,,,,,, :(
No, but i'm paying off our mortgage. [Beer]
That's the whole goal!
Great-Kazoo
11-15-2013, 04:34
That's the whole goal!
Which is only 7 years away. Hopefully by that time, the .gov will have forced everyone to own a home. Thus double, or tripling our investment[hahhah-no]
Anyone a millionaire yet?
Further away than before this all started. I bought the wife a new car... well new to us. It's a used Acura MDX. Pretty snazzy ride and was under $16k. Now I'm just hoping for a good Christmas bonus.
encorehunter
11-16-2013, 09:28
Not a millionaire, but this challenge did help me with a goal. As I posted in another thread, I was able to pay all but my truck and houses off with the money I made from this. I will be starting over again to try and build up enough complete the next goal.
PS4/XBOX One flip on eBay on a release date could be a good 1000 challenge.
Superorb
11-18-2013, 10:05
PS4/XBOX One flip on eBay on a release date could be a good 1000 challenge.
Selling high dollar items on ebay is too risky. I used to sell on ebay full time until buyers started returning a box of rocks and Paypal still refunded their money. They almost always side with the buyers. I'd do PS4/Xbox One face to face only.
Bitcoins have been very high, if volatile lately, peaking and maintaining at $1,200ish. If you all remember, I ended up selling all mine at no more than $120. Today I watched them come down $200ish to around $700. Two weeks ago they temporarily dropped to $500 for a few hours before going back up to $1,200. Anyway, I am anticipating that Ben Bernenke will announce the ending of QE3 on Wednesday, causing the stock market to take a pretty serious drop. This usually causes a spike in Bitcoins. It's just a matter now of deciding how long I can wait before I purchase a coin or two, as two coins at $500 a pop is ALL of my money.
Any info from guys following the markets about a potential ending of QE3 and the repercussions?
Superorb
12-16-2013, 22:38
Don't worry, there will be QE4. The Fed can't resist printing massive sums of money for too long.
He could just be announcing QE4.
Okay, purchased one coin for $640. Let's see if I can make any money off it by Friday.
Okay, purchased one coin for $640. Let's see if I can make any money off it by Friday.
You sir, are brave.
It immediately dropped to a low of $455, and is now hovering around $590. Just need it to go over $640 again to recover.
ChunkyMonkey
12-18-2013, 11:27
It immediately dropped to a low of $455, and is now hovering around $590. Just need it to go over $640 again to recover.
Gambler!
Announcement is now, press conference in 30 minutes. Let's see what happens.
Dave, that money was sitting in my mtgox exchange, so it's not like I pulled it out of savings or anything.
It immediately dropped to a low of $455, and is now hovering around $590. Just need it to go over $640 again to recover.
bitcon has so much fluctuation that I am 90% sure you will make at least 1%.
Just as reminder that Chinese government's statement on Bitcoin might bring a little resistance.
No big movement yet. What did China say?
http://www.nytimes.com/2013/12/19/business/international/china-bitcoin-exchange-ends-renminbi-deposits.html?_r=0
Ahh, that must have been the big drop I saw at the beginning of the month.
That just happened in the past 12 hours or so.
Ahhh, the peak was the event they mentioned on Dec 1st.
Weston and Andrew talked about bitcoin a while back when it was $100/coin. Wish I would have bought some back then. :(
Irving, you are a genius! Getting on a bitcoin when it was in around low double digit?
I read massive amount of digital currencies PLUS hours and hours of CNBC on Digital cryptocurrency (Bitcoin, Litcoin, Peercoin), but I still don't get this thing. I understand and know majority of complex securities, currencies, derivatives, CDS, you name it, but this digital currency is one thing I am real dumb on. I want to ride this tulip mania before the crash, but I think I will have to pass. :(
I am taking a risk trying to deal with bitcoins right now in my opinion. I think they would be VERY profitable if you watch them all day like FOREX trading. FOREX traders buy and sell when a currency changes by a pico or something? Bitcoins fluctuate by $10-$200 a day!
What I'd like to do is get in with Litcoin and other substitute coins RIGHT NOW. I think Bitcoins are popular enough that the masses have taken notice; but valuable enough that the masses will flock to the substitutes like Litcoins. I don't think the substitutes will be as strong as Bitcoin, but that shouldn't stop me from being able to make money off them early on.
MrPrena, consider Bitcoins the same was as you would gold, in that there is a fixed amount of available currency. Each coin is "mined" by solving increasingly difficult math problems. As more and more bitcoins are mined, they can be broken down into smaller and smaller denominations. That is about as basic (and complex) as I can explain it.
Dave, I bought my bitcoins for $11 each in September of last year. I wasn't fortunate enough to sell them at any where near the value they hold now.
bitcon has so much fluctuation that I am 90% sure you will make at least 1%.
Just as reminder that Chinese government's statement on Bitcoin might bring a little resistance.
Okay, so if you remember, I bought a coin for $640. I got tired of waiting for the price to go, as it has been about as stable as I have ever seen it lately. I sold on Tuesday for $808. After the .6% transaction fee either way, I made $153. Of course NOW it's up around $860. I was impatient, but still made something at least. The $153 number I quoted is the difference in the amount I have in my account now, and what I remember I had before I bought this last coin.
Okay, so if you remember, I bought a coin for $640. I got tired of waiting for the price to go, as it has been about as stable as I have ever seen it lately. I sold on Tuesday for $808. After the .6% transaction fee either way, I made $153. Of course NOW it's up around $860. I was impatient, but still made something at least. The $153 number I quoted is the difference in the amount I have in my account now, and what I remember I had before I bought this last coin.
That is a good trade.
Bought only 2000 shares of RadioShack at low 2.10s avg. Fundamentals looks horrible, but Technicals are fair. Very high short interest at ~45%. I might take a little hit, unless I play (buy/write) options, 2.82 and 3.25 is my target price to sell.
Might get back (buy or straddle) to AMD after Aprl 17 earnings.
Currently watching like a hawk on:
Level(3)
JCPenny (planning to be in at 5.20s)
AMD (planning to be in at 3.30s)
Juniper
Blackberry ((planning to be in at 6.70's)
Naver* Corporation (035420.KS) -KSE (Short or buy puts near at 840,000 KRW)
* Naver is owner of Ktalk/Katalk app. Better app thanWhatApp. IT can do voice over net for free.
encorehunter
08-06-2020, 09:17
Digging up an ancient thread to see if anyone made their millions yet.
Talking with a friend this morning, I brought up this challenge and he liked the idea. We are going to start playing now, and see what we can do by the end of the year.
Little Dutch
08-06-2020, 10:10
I messed up with my honey well stock this year. I was doing well and up over 50% in 3 months. Then I made a bad buy and a bad sell, followed by another bad buy. I misjudged the highs and lows on the market bounce from Covid and Riots basically.
I am now sitting at 22% up in 6 months. Oh well. I'm not going to be winning this game this year. And I still wish I had been able to invest more than the pittance I did when stocks dropped.
asystejs
08-06-2020, 12:43
In March I bought VDIGX
Today its +24% including dividends reinvested
If MrPrena is still holding onto that AMD stock, he should be doing OK.
Not_A_Llama
08-06-2020, 15:06
Missed out the first time. Anyone wanna start it up again for 2020?
I bought AMD at 3.15 a share. It closed today at 86.71. I wish I had bought more than 100 shares back then...
I bought AMD at 3.15 a share. It closed today at 86.71. I wish I had bought more than 100 shares back then...
While real estate guys are jumping for joy for 500% return, AMD guys are netting about 4000%*
* if you got in at around low 2s
If MrPrena is still holding onto that AMD stock, he should be doing OK.
My 1st wave of purchase was little before ps4 release date (under 2/sr).
The post #135 was about 2nd wave or 3rd wave. I gotta see 7yr ago statement to be sure.
I cannot count this as a $1000 challenge, because I was selling and buying on fluctuations but after holding for 1 +year at a time to avoid investment income.
Sadly I sold many shares about 16mo ago, because I saw many bear signs in the market. (Which I admit i am wrong). :(
I'm already playing with my retirement in these uncertain times. The whole monetary system and everything it's based on can just go...[Fire]
Only thing that is stopping from large bubble to fire pit is Robinhood investors/traders constantly pumping.
<MADDOG>
08-06-2020, 18:48
All right germs.. $500 - where now?
I?m still waiting for my crypto to blow up big.
BushMasterBoy
08-06-2020, 19:31
500 bucks at yard sales. Ask about ammo, coins,watches. Take a magnifying glass or loupe. Sell on here, or other online venues. Some of the things I have sold over the years...I have made thousands.
^ yes.
It is also very liquid.
I'm already playing with my retirement in these uncertain times. The whole monetary system and everything it's based on can just go...[Fire]
I'm just now back to where I was pre-C19 and strongly considering moving out of everything volatile into guaranteed income, which means pulling from all the markets while I have the chance and before the election. If I do I can possibly still retire or semi-retire in 3 years, but with a smaller income than the 90-100% (incl SS) I was targeting. If I don't shelter and we take another big hit, I could be working another 10 years or until I die unless I take only 70% of my current income which isn't palatable right now. In either case, the outlook for SS income is pretty dismal.
scratchy
08-06-2020, 21:14
Does buying CCI #41 at $12/1000 count? [ROFL3] Everything else I have read here makes perfect sense.
battlemidget
08-07-2020, 05:37
Vista Outdoors, VSTO, is a publicly traded firearm business that's up significantly this year.
Buy Olin at $11 a share. They pay 7% dividend. They own Winchester ammo and got the LC contract from the Gov for all US military small arms ammo. On top of that they supply Clorox with the goods for bleach. Have fun
Only thing that is stopping from large bubble to fire pit is Robinhood investors/traders constantly pumping.
Mohamed El-Erian has spoken.
If you do not know who he is, he is former CEO of pimco,smarter than Jeffrey Gundlach,Larry Kudlow (white house), bill gross, Icahn, etc.
https://www.foxbusiness.com/markets/robinhood-app-robbing-amateurs-dotcom-era.amp
asystejs
08-11-2020, 14:12
Buy Olin at $11 a share. They pay 7% dividend. They own Winchester ammo and got the LC contract from the Gov for all US military small arms ammo. On top of that they supply Clorox with the goods for bleach. Have fun
This OLIN ?
August 6, 2020
Olin Corporation OLN recorded a loss of $120.1 million or 76 cents per share in
second-quarter 2020 against loss of $20 million or 12 cents per share a year ago.
Excluding one-time items, adjusted loss for the quarter was 63 cents per share,
wider than the Zacks Consensus Estimate of a loss of 49 cents.
The chemical maker’s revenues fell 22% year over year to $1,241.2 million in the quarter.
Little Dutch
08-11-2020, 14:39
Buy Olin at $11 a share. They pay 7% dividend. They own Winchester ammo and got the LC contract from the Gov for all US military small arms ammo. On top of that they supply Clorox with the goods for bleach. Have fun
I had some cash just sitting in my account, not enough to buy a full share of one of the big boys. OLN looks like a candidate to put that money into, maybe make a few dollars.
Just bought 633 shares of OLN, I'll see what happens. I've previously been using those funds to trade the volitile cycles of WB "Weibo" with some success, which is China's twitter. I first took some losses on it last year, but it's a manipulated stock, and having that in mind I was able to do well buying on the lows - lately 33-34 and selling inside of 5 or 6 days usually at around 35-36. Holding it long would be depressing though.
Little Dutch
08-28-2020, 12:51
Worried I might have sold my HON stock too soon again. It took a big jump this week though.
Got a buy order in, but not sure it will drop that low for a while. I'm going to have to pay attention to it for a while...
<MADDOG>
08-28-2020, 18:54
Worried I might have sold my HON stock too soon again. It took a big jump this week though.
Got a buy order in, but not sure it will drop that low for a while. I'm going to have to pay attention to it for a while...
Take it for what is it worth, but the SC plant in my locale is upgrading substantially from the equipment and processes that was used in the 80-90's (heavy/lineman rubber gloves). For a dollar figure, the fire protection systems are $1M+, and if you are in the contracting world, you can do the math.
Starting OCT this year, $1000 challenge by going LONG only would be very difficult*.
*who knows, i might be wrong again.
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