How much money could you make with $1,000?

[Irving]

$1,000 is not a large sum of money, but if you were given $1,000 with the express instruction to turn it into as much money as possible, what would you do with it?

[00tec]

Legally? [Coffee]

[Dalendenver]

These days buy gun parts and sell them on Gunbroker.

[cjmore]

Don't worry about

[10mm-man]

These days buy gun parts and sell them on Gunbroker.


^^^^ this, and keep flippin.......

[brutal]

These days buy gun parts and sell them on Gunbroker.

Easier said than done.

[ray1970]

How long do I have to see a return?

[lead_magnet]

If I did what I normally do, I would buy something cool and shiney, decide it don't want it 2 years later and sell it for $500.

[GilpinGuy]

Right now?

Gold.

[BushMasterBoy]

I'd buy silver bullion. Silver has just hit a major dip.

[ChunkyMonkey]

$1,000 is not a large sum of money, but if you were given $1,000 with the express instruction to turn it into as much money as possible, what would you do with it?

Open a forex margin acct (.5%) and hope to double your money every hour til a margin call. [Coffee]

[kwando]

Panic prices have died down, Easily could have doubled it 1-2 months ago.

But you can buy

$699 PSA Aimpoint upper
$150 BCG windham
$150 LPK with stock kit from PSA
$150 lower
Sell the aimpoint for $350-400
Sell the AR for $1200-1500

[RonMexico]

I know a guy who flip guns until he bought a boat last year. Think the first gun was only $350

[ray1970]

I'd start an Internet porn site. [Awesom]

[Dunecrazzy]

1000 dollars and a craps table. Well that's never turned out good!

[Irving]

Well, full discloser, this $1,000 started as $110 in September of last year.

[ChunkyMonkey]

I know a guy who flip guns until he bought a boat last year. Think the first gun was only $350

Yep, Few of our members who are doing it right do it for living at the gunshows. One bought a house free and clear as the result. He started with a trunk of c&r stuffs.

[GilpinGuy]

Well, full discloser, this $1,000 started as $110 in September of last year.

How was the profit made?

Repeat.

[RonMexico]

Panic prices have died down, Easily could have doubled it 1-2 months ago.

But you can buy

$699 PSA Aimpoint upper
$150 BCG windham
$150 LPK with stock kit from PSA
$150 lower
Sell the aimpoint for $350-400
Sell the AR for $1200-1500

Why did you post this^^^^^^
members who think their sh!t is worth 3k are gonna see this and understand why it won't sell.

They came to the party but now they are dancing with the fat bitch them came with..... Should flip it for a supermodel a few months ago. [Beer]

[ChunkyMonkey]

Well, full discloser, this $1,000 started as $110 in September of last year.

Good time to sell.. Since Cyprus, the speculator and panic buyers jumped in

[kwando]

Why did you post this^^^^^^
members who think their sh!t is worth 3k are gonna see this and understand why it won't sell.

They came to the party but now they are dancing with the fat bitch them came with..... Should flip it for a supermodel a few months ago. [Beer]


I've sold a $2.5k rifle... But I've also paid more for some other things I need. :)

[Great-Kazoo]

Well, full discloser, this $1,000 started as $110 in September of last year.

Seven months to make $1K try something else, nothing personal.

[Tinelement]

Buy some more outdoor gear for the family.....

cause memories are priceless!!!??

[full sappiness intended]

[GilpinGuy]

Seven months to make $1K try something else, nothing personal.

[ROFL1][Beer][ROFL3]

[kidicarus13]

Well, full discloser, this $1,000 started as $110 in September of last year.

IMHO the next $890 won't be as easy unless the Feds pass some gun control.

[Great-Kazoo]

[ROFL1][Beer][ROFL3]

Funny or not you're from NY (ok yup state) still, 7 months??

[Irving]

Good time to sell.. Since Cyprus, the speculator and panic buyers jumped in
Agreed, hence this thread. I sold a little when it was $80, just to get my original investment back. Then I set it to sell some more if it jumped up to $105. It sold before I could log back in and cancel the transaction. Today I canceled a potential transaction to sell at $110, reset it to sell at $120, and when I got home tonight it was selling for $126. I plan to do this until I've sold it all, and want to move onto something else. I've been meaning to ask about tax liens again.

Everyone else: Back in September I bought $100 worth of Bitcoins at $11 a piece. In the beginning of March they were selling at $36 (the previous life time high) and going up about $.75 a day. Cyprus happened and they went into the $50 range, going up as much as $10 a day. Today I saw them as high as $126. This can't go on forever, so I need to pull out of Bitcoins and do something less risky.

[ChunkyMonkey]

After you mentioned it that day at the restaurant, I asked my bro to buy some with the trust acct... Apparently it's a direct trade, so broker cannot touch it. I should have opened my own acct. Congratz btw.

[Irving]

Thank you, but I think it was mostly lucky timing on my part. I wish I bought more at the time.

[ChunkyMonkey]

Open a pawnshop or payday loan... 300-400% apr all day long!

[Irving]

The thought has crossed my mind, as much as I hate those places. I'd rather help people if possible though.

[jhood001]

I'll tell you for 10% of your 1000$, but I refuse to have any liability for your remaining 900$.

Call me!

[GilpinGuy]

Funny or not you're from NY (ok yup state) still, 7 months??

Yeah, 900% or so on your money in 7 mos is no fucking good. Need 1200% to pay the protection minimum.

[MrPrena]

Depends on how long of a time I have with 1000.

IF I MUST invest, I will probably put the $1000 ROTH or Traditional IRA, and keep on trading Research In Motion (BBRY). BUY-SELL-BUY-SELL etc.

[MrPrena]

Agreed, hence this thread. I sold a little when it was $80, just to get my original investment back. Then I set it to sell some more if it jumped up to $105. It sold before I could log back in and cancel the transaction. Today I canceled a potential transaction to sell at $110, reset it to sell at $120, and when I got home tonight it was selling for $126. I plan to do this until I've sold it all, and want to move onto something else. I've been meaning to ask about tax liens again.

Everyone else: Back in September I bought $100 worth of Bitcoins at $11 a piece. In the beginning of March they were selling at $36 (the previous life time high) and going up about $.75 a day. Cyprus happened and they went into the $50 range, going up as much as $10 a day. Today I saw them as high as $126. This can't go on forever, so I need to pull out of Bitcoins and do something less risky.


Good idea.
I just saw the CNBC news on Bitcoins.

[Irving]

Time is not the biggest concern, but something like a ROTH IRA is not what I'm after; as it is not liquid enough. I've got some idea what to do with more money, but I need to get there first.

I've considered Gold and Silver, but feel like it is a similar risk by counting on the devaluation of the dollar. With prescious metals, I'm not sure I could make money, so much as not lose it.

Also, this is in no way a bragging thread. I just got lucky taking a small risk on something most people scoff at, and would like to keep it going. Thanks for the suggestions so far.

[MrPrena]

Time is not the biggest concern, but something like a ROTH IRA is not what I'm after; as it is not liquid enough. I've got some idea what to do with more money, but I need to get there first.

I've considered Gold and Silver, but feel like it is a similar risk by counting on the devaluation of the dollar. With prescious metals, I'm not sure I could make money, so much as not lose it.

Also, this is in no way a bragging thread. I just got lucky taking a small risk on something most people scoff at, and would like to keep it going. Thanks for the suggestions so far.

If the liquidity is one of the concern, I would first open up the money market to purchase precious metal etfs, stock, bonds, etf, etc.
ROTH and Traditional was if I had 1000, because I got severely hammered on 2012 taxes from cap gain and investment income. I had a second job to pay the taxes! :(

Oh yeah, I believe in risk vs reward. You made $$ on bitcoin when not too many people understood it. Maybe there were some minor luck, but you made $$ because you did your home work on bitcoin. I still don't understand bitcoin enough to get into it. Hedging against the USD or any other currency by purchasing Au Ag or Cu is a good idea too.
Some metal analysts likes Copper more than Gold and Silver, because they have more industrial exposure. Some are investing Brasil/Brazil heavy foreign capital ETFs.
Some of the guys I know are allocating some of their Bonds into Peer-2-Peer lending right now.

[Irving]

My only real experience in the stock market was buying rare earth metals at $3/share, then selling at the peak of the bubble for $9/share, right before the burst back down to $3/share. However, I had lost so much money previously, that I just ended up breaking even.

Is peer to peer lending where you swap self-directed IRAs with someone else's money so your profits/cash flow is not tied up in your own IRA?

[Byte Stryke]

Yep, Few of our members who are doing it right do it for living at the gunshows. One bought a house free and clear as the result. He started with a trunk of c&r stuffs.


he had help ;)

[JoeT]

http://ts3.mm.bing.net/th?id=H.4596539391018954&pid=1.7&w=141&h=155&c=7&rs=1

[RCCrawler]

In September or October I bought 130 pmags for $1300.00, my wife couldn't understand why. Just after Sandy Hook I took 30 of them and sold them on arms list for $1300.00 just so I'd be sitting even at that point. In February an opportunity popped up and I needed some cash so I took the remaining 100 of them to a friend who owns a gun store and sold them to him for $3000.00. I know he took them to the gunshow that weekend and made even more cash.

I figured it wasn't bad turning $1300 into $4300 in just about 4 months. Now my wifes pissed I didn't buy more.

[sniper7]

I'd take the $1000 buy some wood and a lathe, some reeds and make duck calls. End up with a reality show, millions of dollars and grow a sweet beard.

[Irving]

My beard comes in patchy. :(

The Pmag thing was a good venture, but that seems to be too late to join now. Keep up the ideas. So far it still looks like a tax lien will be the next step.

[ChunkyMonkey]

Stu, on serious note.. think about taking some basic 3D CAD classes and buy a 3d printer. It's getting big!!!

[spqrzilla]

$1,000 is not a large sum of money, but if you were given $1,000 with the express instruction to turn it into as much money as possible, what would you do with it?
The same way that Ben Bernanke is making money. Buy a good printing press.

[ChunkyMonkey]

The same way that Ben Bernanke is making money. Buy a good XEROX.

Improved.

[Irving]

And just manufacture doodads? Wouldn't they have to be my own design to avoid copyright issues?

[ChunkyMonkey]

And just manufacture doodads? Wouldn't they have to be my own design to avoid copyright issues?

Or ready to print royalty free design, or self-modified royalty free design. One of the youngest investors in our group is making his money by custom printing iphone cases (corporate logo etc) in his basement - doing 200-300 cases per week among other product lines. The dimension is readily available to download. He simply add the 3d design on the case and print them out.

[Irving]

What is the cost of the machine and the materials?

[ChunkyMonkey]

What is the cost of the machine and the materials?

expensive..but the investment in the class is $1000 or less :D

[nynco]

I tend to troll craigslist looking for good bargains on things I know. One of my better ones was buying a 1995.5 Audi S4 with 50K miles for 9K driving it for a year and selling it for 14K. Or buying cars fixing them and selling them for a lot more. Example 500 dollar audi needed heater core, did that sold it for 4K. At one point in time I use to run a motorcycle part import business. This was before the economy collapsed. I was making a 300% profit margin on that stuff. Latest is more of a venture for an online business. Trying to see if this will be my big thing.

[rondog]

Never heard of "bitcoins" before, this bears more research.....

[Irving]

expensive..but the investment in the class is $1000 or less :D

So perhaps I should look into investing into an upstart company looking for funds for materials, or when your young investor decides he is ready to expand...

Rondog, you and half of America it seems. The high was $147 this morning and www.mtgox.com was even down for a bit today. Also, Puton just announced that he is demanding his political leaders submit all of their money overseas, and anything over what they can afford on their government is supposed to be explained and/or surrendered. I imagine this is mostly for show, but most of the money in Cyprus banks was from rich Russians trying to dodge taxes in the first place. Pretty difficult to seize anonymous money.

[Dingo]

I tend to troll craigslist looking for good bargains on things I know. One of my better ones was buying a 1995.5 Audi S4 with 50K miles for 9K driving it for a year and selling it for 14K. Or buying cars fixing them and selling them for a lot more. Example 500 dollar audi needed heater core, did that sold it for 4K. At one point in time I use to run a motorcycle part import business. This was before the economy collapsed. I was making a 300% profit margin on that stuff. Latest is more of a venture for an online business. Trying to see if this will be my big thing.

Need a gun-carrying employee? lol. I'm getting sick of healthcare as a profession...

[nynco]

Need a gun-carrying employee? lol. I'm getting sick of healthcare as a profession...

Right now what I need is to learn more about creating websites that are not just simplistic static sites. I am currently pounding through Joomla 3.0. But not sure if it will be capable of doing what I need. Its a steep learning curve, but no way to do other than pound my head into it.

I understand you need to get out of healthcare. I was a medic and then a Rad Tech. Being a Rad Tech is nothing more than a glorified Mc Donald's like position. There is a reason there is a shortage in Nursing and other heathcare... its because the system is just soul drainingly bad.

[Dingo]

Amen... aside from the god-like doctors, the shortage of supplies/equipment, and the dangerous patient loads, the computer systems are cumbersomely redundant and largely just designed for hospital CYA. Very little time spent with the patients, and my eyesight's getting worse from living in front of a damn computer all night. It's a system largely designed to compartmentalize any potential legal liability to a single person who's doing the charting... it was glaringly apparent when I first started using EMR systems.

[nynco]

One of the things that was my wakeup call was how a local hospital (one where I use to work) use to purposely only schedule 2 rad techs for the over night on friday. We had to cover surgery, ER, floors in a level 1 trauma hospital. It was an impossible job and if something went wrong, the tech would have been the one answering the law. The dept was only concerned with profit and they burnt people out all the time. If something went wrong because they were asking the impossible, they did blame the worker. Then years later I find out the person who ran the dept like that had embezzled a HUGE amount of money.... what happened to him. Absolutely NOTHING. He walked away. That dept was running at a near 80% turn over rate every year for years.

[Irving]

It sounds like being a Rad Tach would be a bad investment then.

[rondog]

I worked in telecom for 26 years, until I was booted to the curb. That's a fucking cut-throat business, I'm not sure I want to go back in it. I'd love to come up with a way to make my own living, but I can't think of anything.

[sniper7]

I tend to troll craigslist looking for good bargains on things I know. One of my better ones was buying a 1995.5 Audi S4 with 50K miles for 9K driving it for a year and selling it for 14K. Or buying cars fixing them and selling them for a lot more. Example 500 dollar audi needed heater core, did that sold it for 4K. At one point in time I use to run a motorcycle part import business. This was before the economy collapsed. I was making a 300% profit margin on that stuff. Latest is more of a venture for an online business. Trying to see if this will be my big thing.
You claimed taxes on that profit right? I would hate for your liberal ass to get reamed by the IRS for tax evasion.

[Irving]

You guys don't think there are 10,000 other threads to rip on Nynco and be sarcastic in? If you have ideas of making money, even if you wouldn't do it yourself, I'd like to hear about them.

[rondog]

You guys don't think there are 10,000 other threads to rip on Nynco and be sarcastic in? If you have ideas of making money, even if you wouldn't do it yourself, I'd like to hear about them.

PM coming.

[Irving]

I don't mind the messing around, I just don't want this thread to go sidways too early. The last thread I started like this greatly benefited me.

[spyder]

I'd buy 1911 parts, make a bad ass 1911, and sell it for a whole lot more............

[Irving]

I'd buy 1911 parts, make a bad ass 1911, and sell it for a whole lot more............

That's not a bad idea, but me and making things don't usually work well together.

[Great-Kazoo]

What's your turn around time for the $1K back and how much if any interest on it? Or you want to invest 1K and split the monetary gain by percentage?

[sniper7]

You guys don't think there are 10,000 other threads to rip on Nynco and be sarcastic in? If you have ideas of making money, even if you wouldn't do it yourself, I'd like to hear about them.

Im not being sarcastic...I'd love to see a bunch of liberals feel the wrath of the IRS and put some smack down in their lives. It's the right thing to do right now...you know...for the children.


You could flip things on Craigslist. You could try your hand at penny stocks. You could start a small home based business using eBay selling trinkets or sex toys or Chinese crap...order stuff from deal extreme like flashlights or phone cases and sell them for double on there. $1000 really isn't much to work with but you gotta start somewhere

[Great-Kazoo]

Im not being sarcastic...I'd love to see a bunch of liberals feel the wrath of the IRS and put some smack down in their lives. It's the right thing to do right now...you know...for the children.


You could flip things on Craigslist. You could try your hand at penny stocks. You could start a small home based business using eBay selling trinkets or sex toys or Chinese crap...order stuff from deal extreme like flashlights or phone cases and sell them for double on there. $1000 really isn't much to work with but you gotta start somewhere

I could turn $1k into a moderate amount, legally, in a short time frame.

[Irving]

What's your turn around time for the $1K back and how much if any interest on it? Or you want to invest 1K and split the monetary gain by percentage?

I would do whatever makes the most sense. What kind of gains are you thinking are possible with whatever you are hinting at, compared to what kind of risk?


I could turn $1k into a moderate amount, legally, in a short time frame.

Well, we're all here to find out how. :)

[Irving]

Goodnight boys. Stuey has to go to sleep now. Signed, wife (-:

[sniper7]

Welp, no point in any more posts. Stueys wife got ahold of his account, you can be damn sure she got ahold of that money! Hope the new shoes look nice Mrs Irving!

[Great-Kazoo]

I would do whatever makes the most sense. What kind of gains are you thinking are possible with whatever you are hinting at, compared to what kind of risk?



Well, we're all here to find out how. :)


GM doesn't tell Ford.

[Irving]

Jim, originally I wanted to have this thread have as little restrictions as possible, so as to get the most ideas possible. However, if things are too broad, people can spin their wheels; I know I can.
So now I've been thinking about adding some parameters, to focus things a bit. Actually, I'm thinking about lag out some simple rules and running a challenge. I'll post more from home, but it will basically be, how much money can you male from $1,000, in 12 months. You can start with less, but not more. You are not limited to a single "transaction." So if you spend $800 to build an AR, then sell it for $1,300, and it only takes one month; you don't have to stop there. You can do it again, and now you have $1,300 to work with. The focus, and goal, is to make as much money as possible in one year, starting with no more than $1,000.
No outside money, so you can't put your $1,000 toward a $1,500 car on Craig's list, and count that. However, you could invest your $1,000 with other people to start Apple or something. Anything over $1,000, or the money made from the initial $1,000, must not come from you. This means you can't get a loan to complete a down payment or deposit, as that would make your contribution over $1,000.

[MrPrena]

I may have mentioned this before, but why not open a money market at a discount brokerage first (TDameritrade, etrade, fidelity direct, etc)?
They are liquid, and can transfer the fund from checking to money market (vice versa) less than 2 days.

When you have a great idea, you can jump on the investment right away.

[Irving]

I may have mentioned this before, but why not open a money market at a discount brokerage first (TDameritrade, etrade, fidelity direct, etc)?
They are liquid, and can transfer the fund from checking to money market (vice versa) less than 2 days.

When you have a great idea, you can jump on the investment right away.
You mean put the money in the account so it is making money even when you're not using it? That's a great idea that helps flesh out your plan. That's basically what we did last year when we opened a cash back card.

[nynco]

Its a terminal question as to how to make more money. I would say investing in tools or learning always pays off. Just depends on how you use them later. I am investing in learning Joomla so I can create an online business.

[TFOGGER]

I guess it depends on your aversion to risk. My neighbor has made a killing (16k+ so far this year) day trading penny stocks, starting with about $500. The downside is that there is a learning curve, and you have to be prepared to lose it all, because that happens at least as often as the big scores. I may dabble in this, starting with a couple hundred bucks, and see how I do. Any profits I take, I'll flip into something less volatile, like diversified bond funds.

[bigshane]

Irving is the oracle: Bitcoin crash (http://arstechnica.com/business/2013/04/bitcoin-crashes-losing-nearly-half-of-its-value-in-six-hours/)

[MrPrena]

Irving is the oracle: Bitcoin crash (http://arstechnica.com/business/2013/04/bitcoin-crashes-losing-nearly-half-of-its-value-in-six-hours/)

Heard it from CNBC.
I agree with oracle.
Irving is now Oracle of Westminster.

[Irving]

Haha, I watched that go down in real time today. I was showing someone, and it dropped $20 by the time he walked back to his desk. I sold five of the 9 coins I had during this thread. So I'm sitting on $530 with four coins left. I'm pretty happy that the price seemed to settle at over $100, and still over ten times what I bought in for. :D

[ChunkyMonkey]

I didnt see your text til the later one for the phone number. Good call!

[USAFGopherMike]

http://www.youtube.com/watch?v=pV-4HH6BxY0 Start at :28

[spyder]

http://www.youtube.com/watch?v=pV-4HH6BxY0 Start at :28
LOL That's hilarious, and sadly very true! My bank manager already knows what I do though.... lol

[spyder]

Really though, if you want to make a shit ton of money, on very little output, just have a great idea in which you can get 50,000 people to send you one dollar a month, and you're set. < I can't remember who said that, but I heard it somewhere...

[ChunkyMonkey]

Really though, if you want to make a shit ton of money, on very little output, just have a great idea in which you can get 50,000 people to send you one dollar a month, and you're set. < I can't remember who said that, but I heard it somewhere...

Ah..those days were real good. I made my first 100k.. doing email spamming when it was legal. 5 million email address for $200. Spam them with a $1 secret soup recipe. Only 2% responded - do the math. [Flower]

[hunterhawk]

I got 99,800... But it has been a while since I have had a math class :-)

[Superorb]

Subscribed. I'm self employed and always looking for additional revenue streams. I have free time Feb-July usually.

[Irving]

Ah..those days were real good. I made my first 100k.. doing email spamming when it was legal. 5 million email address for $200. Spam them with a $1 secret soup recipe. Only 2% responded - do the math. [Flower]

Ugh, think of all the taxes, no thanks!

[ChunkyMonkey]

kids nowadays with their 'online' taxes. [Coffee]

[Great-Kazoo]

When is this contest taking place? I'd enter but wouldn't want to embarrass anyone.

[Irving]

It was supposed to be a reference to a line from the character Lowell Mathers from the show "Wings" back in the '90's. I couldn't find a youtube clip for it. I really should stop referencing that scene, as I believe I'm the only person to have ever even watched that show.

[Irving]

Jim, a challenge, not a contest. I'm going to set it from June to June. It should be viewed as a personal challenge to really learn about actually making money, as opposed to just saving or wisely spending it. I've got some work to do from home tonight, as I'm interviewing for a promotion tomorrow. I'll try to make an official thread by the end of the week. If I don't, someone remind me.

[Great-Kazoo]

Jim, a challenge, not a contest. I'm going to set it from June to June. It should be viewed as a personal challenge to really learn about actually making money, as opposed to just saving or wisely spending it. I've got some work to do from home tonight, as I'm interviewing for a promotion tomorrow. I'll try to make an official thread by the end of the week. If I don't, someone remind me.

ACCEPTED, Gauntlet thrown down.

[Sawin]

I think I'll buy a beater car or on craigslist for $500ish, spend a couple hundred fixing it and detailing it (myself), and reselling it for double. My hope is to turn it around for less than $750 out of pocket, and at max 10 hours of work. $250+ profit for 6-8hrs of work is my hope, but finding the right project is the first step.

Second option is to do the same with a broken macbook/macbook pro. Find one with a busted screen or similar, replace the components and double my money with a couple hours of work. Do it a few times a year, and turn $1000 in to $3000-$3500. Not enough to live on, but it's extra ammo/gun money....

lastly, garage sales/flea market bargains. Buy low sell high. Need I say more?

[Great-Kazoo]

I think I'll buy a beater car or on craigslist for $500ish, spend a couple hundred fixing it and detailing it (myself), and reselling it for double. My hope is to turn it around for less than $750 out of pocket, and at max 10 hours of work. $250+ profit for 6-8hrs of work is my hope, but finding the right project is the first step.

Second option is to do the same with a broken macbook/macbook pro. Find one with a busted screen or similar, replace the components and double my money with a couple hours of work. Do it a few times a year, and turn $1000 in to $3000-$3500. Not enough to live on, but it's extra ammo/gun money....

lastly, garage sales/flea market bargains. Buy low sell high. Need I say more?

Say more. You do the leg work and i'll do the sales end.

[sjl6102]

Take the $1k and use for earnest money to land a house under contract, and sell the deal to an investor as a wholesale deal. I make avg $5k when I do this so it turns $1k into $6k. Do one more cycle, and end up around $12K, then cherry pick an investment deal for myself and leave the $12k in the deal and cash flow atleast $350/mth for as long as I own it.

[ChunkyMonkey]

Take the $1k and use for earnest money to land a house under contract, and sell the deal to an investor as a wholesale deal. I make avg $5k when I do this so it turns $1k into $6k. Do one more cycle, and end up around $12K, then cherry pick an investment deal for myself and leave the $12k in the deal and cash flow atleast $350/mth for as long as I own it.

Assignable contract and investor wannabes are OOS at the moment. In the 90s, it was great.

[sjl6102]

Assignable contract and investor wannabes are OOS at the moment. In the 90s, it was great.
I sell them my LLC that owns the property. It's hard for anyone that isn't doing it full time to find the deals and lock them up. Especially with inventory being so low at the moment. The people I usually work with have the capital but no time but they still want to be in it. I love it!

[hghclsswhitetrsh]

I think I'll buy a beater car or on craigslist for $500ish, spend a couple hundred fixing it and detailing it (myself), and reselling it for double. My hope is to turn it around for less than $750 out of pocket, and at max 10 hours of work. $250+ profit for 6-8hrs of work is my hope, but finding the right project is the first step.


Isnt 5 the max you can do before you have to obtain a dealers license?

[Great-Kazoo]

Isnt 5 the max you can do before you have to obtain a dealers license?

It's more the blatant cluster of cars you have stuck on the corner with 4 sale signs on them. "IF" You're only detailing, doing some fix up and getting an emission cert. who cares. UNLESS you have the mentality to insure and register everything you buy before flipping it, then yes, they will intervene.
The best way to score beaters is cruise the alley's in the metro area. A late friend of mine would do the leg work, i'd do the wrenching, pay Tom @ Classical gas to detail them and slap a 4 sale / Se Vende sign on them.

Best unit to flip (at the time) Ford Pick up's. We had a celica roll up and out came 9 people of hispanic origin . 15 minutes later 8 of them are driving away with their new ride. Unfortunately the price of decent running vehicles, especially trucks, has become cost prohibitive. Unless you have a grip of cash in your hand and get there 5 minutes after the ad is posted.

Another place to score cheap beaters is the back lot of dealers. Those are marked for Auction. BUT most don't pass emission testing.

[fitz19d]

Previous Gen's I've know friends to make a few hundred quickly off flipping the new game consoles. Wondering if I should try that this year. Buy hopefully 3 systems @ 400, flip for 600 or so each.

[Superorb]

Previous Gen's I've know friends to make a few hundred quickly off flipping the new game consoles. Wondering if I should try that this year. Buy hopefully 3 systems @ 400, flip for 600 or so each.

The day of the Wii is long gone. That was profitable for so long due to them not being able to produce them fast enough. I paid for my used WRX in 11 months flipping Wiis in college. If you look at other game systems like the Wii U there's no profit on those.

[fitz19d]

Wasn't wii's, they sold xbox/xbox360/ps3 when they came out the first week.

[MrPrena]

Well..
I guess someone can flip PS4/XBOX ONE when it comes out.

[Superorb]

Wasn't wii's, they sold xbox/xbox360/ps3 when they came out the first week.

I sold Wiis for 9 months or so straight. Now that I'm not in a tiny college shit town I have much greater access to inventory too. I just wish there'd be another Wii but I don't see that ever happening again.

[anaphylaxis]

Time to bump this thread.

I'm in the CPR and first aid training business. This thread reminds me of a few times when I bought used automatic external defibrillators for cheap off of Ebay or Craigslist. I'd throw a new set of pads in, get a battery so the device worked, and resell it. Made a few hundred each time. Of course, with pricing being variable and batteries being pricey, I had to be careful...

[lpgasman]

Anyone who knows me, knows I would turn 1000.00 into 500.00

[Bang]

[glock21]

Anyone who knows me, knows I would turn 1000.00 into 500.00

[Bang]

Haha after you buy a Glock

[Irving]

Anyone who knows me, knows I would turn 1000.00 into 500.00

[Bang]

That's all I've been doing so far.

[lpgasman]

Haha after you buy a Glock
Pot and the kettle bro, pot and the kettle.

[lpgasman]

That's all I've been doing so far.

We should take classes or something.

[Irving]

Okay, did anyone make any money? It's almost time for 2015 to start and new millionaires to be made!

[HoneyBadger]

Well, I didn't get to start until September due to funds availability, but as of two weeks ago, my $1,000 was $2,343. Then one of my big investments lost about 70% of its value since then and I'm down to $1,081. :(

good news is that I'm expecting it to recover within a few months. Hopefully. Maybe.

[TFOGGER]

I started with nothing, and I still have most of it...

[Irving]

Well, I didn't get to start until September due to funds availability, but as of two weeks ago, my $1,000 was $2,343. Then one of my big investments lost about 70% of its value since then and I'm down to $1,081. :(

good news is that I'm expecting it to recover within a few months. Hopefully. Maybe.

Great job. 2014 was pretty crappy for me financially and I'll spend 2015 recovering. However, with that said, 2015 should be a banner year. Plus I've got new money making ideas and we can see how well they work this year!

[MrPrena]

Inverse Oil ETF treated me well. When it hits little lower than now, I will go 3x (and few 1x long etf) long crude oil etf.

[HoneyBadger]

Inverse Oil ETF treated me well. When it hits little lower than now, I will go 3x (and few 1x long etf) long crude oil etf.
Yeah, I'm mostly into UGAZ, BOIL, UWTI, NUGT, and JNUG.

[muddywings]

Invested in SWIR at $20. It's at 40.
I expect it to be $80 this time next year (or sooner based on the projections for next earnings).
(I put in a bit more than $1000 though)
Do your own due diligence...

ETA: and what I mean by 'expect' is 'hope'

ETA2: and....new high [rockon]

[Superorb]

Anyone else here do dividend stocks? I just got into them little by little over the summer. Should've backed up the truck a few days ago on some of the oil majors, but I was hoping for Mother Yellen to keep her mouth shut so prices could continue to drop and provide some better entry points.

[Aloha_Shooter]

Anyone else here do dividend stocks?

I bought RMCF when they were about $6 a share because they offered a nice dividend. Share price has gone up quite a bit since then and the dividend is still better than I'm getting from the bank.

[Superorb]

I bought RMCF when they were about $6 a share because they offered a nice dividend. Share price has gone up quite a bit since then and the dividend is still better than I'm getting from the bank.

I've got 11 positions right now. BP, COP, CVX, T, BBL, MET, AFL, DE, CMI, VLO, and WFC. Got my first dividends ever recently, and for Dec got $26. Pretty good for an 11k portfolio, and much better than the 1% I'm getting with my "high yield" savings account. It just went up from 0.9% too, yipee!

[encorehunter]

I started with around $100 and was buying gold and silver jewelry at garage sales. I was able to sell the jewelry for roughly $1100, minus a couple of pieces the wife "taxed" me on. My mother had the misfortune of a tree falling on her Airstream trailer, and the insurance company totaled it. I used the money I made to purchase parts and fuel for transporting the trailer and repairing it after she purchased it back from the insurance company. It is not rebuilt to new, but looking at it would be very difficult to tell it has been repaired. After investing almost the full $1100 in parts, plus about 50 hours worth of labor(includes 4 trips to Albuquerque), she paid me $5500 (from insurance money). I used the money to pay off a 13.9% loan that was charging about $120 a month. Over the last 11 months or so, it has saved me about $1200, which added together is about $6700 from my initial investment.
If I can scrape another $100 or $1000 together, I think I'd like to play this game again next year.

[Limited GM]

If I drove a truck to and from work, id check the free section of Craig's each day before driving home. Aquiring cheap and finding someone to pay more is the key.

[MrPrena]

Heck, I "might" buy little RSH CALL. Maybe turn 1000 into 95k?

[Tim]

Sub so I can turn 1k into more, which is the opposite norm for me!

[ChunkyMonkey]

Quick update, the fund line resulted from the initial $1k for the purpose of this thread has translated to $24400/year passive income plus roughly 12k in capital gain. :D Kiss my butt, wallstreet!

PS. cashing out 60k against the same property to start damagefactory.com -- which so far is the riskiest bet.

[encorehunter]

Quick update, the fund line resulted from the initial $1k for the purpose of this thread has translated to $24400/year passive income plus roughly 12k in capital gain. :D Kiss my butt, wallstreet!

PS. cashing out 60k against the same property to start damagefactory.com -- which so far is the riskiest bet.

Thats awesome. I wish we had the real estate market down here to do that. I feel lucky to get $500 a month out of a 5b/2ba house.

[Irving]

I currently have excellent credit, however, I just refinanced my house in the last month. I need a new credit card to get something going. Does anyone know if the hard inquiry for my refinance will pull my score down enough that I won't be able to be approved for a card that requires excellent credit?
Alternatively, I've started a business, and could also apply for a business card. When setting up a business line of credit, is my personal credit worthiness considered, or just that of my brand new business?

[MrPrena]

Quick update, the fund line resulted from the initial $1k for the purpose of this thread has translated to $24400/year passive income plus roughly 12k in capital gain. :D Kiss my butt, wallstreet!

PS. cashing out 60k against the same property to start damagefactory.com -- which so far is the riskiest bet.


Ah, you beat me by $8400 !!!
I only held 3.00 AMD FEB CALL @.02 it for 2-3 weeks on M&A speculations (rumor for BLX acquiring AMD new back Jan). I assume you held it for 1 year for "capital gains?" [Coffee]
I hope "Lisa Su Delivers."

Armature securities investor are typically seen and measured on their gain/loss metric from other type(s) of investors.
We should compare professional to professional.

When you have a good commercial real estate sales, Let me know. I will have few good 10x gains on TSLA PUT and S CALL soon.


http://i57.tinypic.com/30uzuxd.jpg


ETA: posted on FB on AMD for evidence for my good friend who thinks securities investments are too low ball.... [Beer]http://i59.tinypic.com/2yxqbno.png

[MrPrena]

Quick update, the fund line resulted from the initial $1k for the purpose of this thread has translated to $24400/year passive income plus roughly 12k in capital gain. :D Kiss my butt, wallstreet!

PS. cashing out 60k against the same property to start damagefactory.com -- which so far is the riskiest bet.

ChunkyMonkey. I appreciate your education on commercial real estate, but you should compare pro vs pro before bashing "wall street investors"
I usually just bring ideas here for 1000 investment challenge, and not post how big my wee wee is. However, hearing about wall st comment, I had to do this.
This is just a taste of what I will be posting 2000% gain on S CALL next week when you post about your commercial real estate sale (plus not knowing pro vs amateur wall st investors). :D

Evidence of Sprint 4 Out-of-Money-Call purchases on social media (blog) and chart. I paid about .11 cents (mar)?
Since it is now 5.15, I get 1.15 on my pocket for .11 cents invested? hahaha [LOL]
(almost 1100% in 60days).

People like me must post stuff like this (evidences) on public blog/social media to cover my ass from... :D

Evidences submitted. (deleted/erased some specific option strategies on FB post. No free lunch)


ETA: One more thing to add. Please don't say "historical bull market" "any noob can do that". I am dying to short the near all time high market within 8-16mo, and I did better during the bear market.
Due to lower buying power at bear market, It is hard to believe to some intermediate investors who had 5+ career at a financial sector as CFA or CMT. However, if you look at the abs dP/dt, change is more aggressive than bull market slopes at lower dV.

http://i59.tinypic.com/2j1qvwi.jpg

http://i62.tinypic.com/nfqi46.jpg

[ChunkyMonkey]

ChunkyMonkey. I appreciate your education on commercial real estate, but you should compare pro vs pro before bashing "wall street investors"
I usually just bring ideas here for 1000 investment challenge, and not post how big my wee wee is. However, hearing about wall st comment, I had to do this.
This is just a taste of what I will be posting 2000% gain on S CALL next week when you post about your commercial real estate sale (plus not knowing pro vs amateur wall st investors). :D

Evidence of Sprint 4 Out-of-Money-Call purchases on social media (blog) and chart. I paid about .11 cents (mar)?
Since it is now 5.15, I get 1.15 on my pocket for .11 cents invested? hahaha [LOL]
(almost 1100% in 60days).

People like me must post stuff like this (evidences) on public blog/social media to cover my ass from... :D

Evidences submitted. (deleted/erased some specific option strategies on FB post. No free lunch)


ETA: One more thing to add. Please don't say "historical bull market" "any noob can do that". I am dying to short the near all time high market within 8-16mo, and I did better during the bear market.
Due to lower buying power at bear market, It is hard to believe to some intermediate investors who had 5+ career at a financial sector as CFA or CMT. However, if you look at the abs dP/dt, change is more aggressive than bull market slopes at lower dV.

http://i59.tinypic.com/2j1qvwi.jpg

http://i62.tinypic.com/nfqi46.jpg

It has been long time. I actually sold another rental resulted in this. My estimated capital gain tax was $58k that year. I don't keep track afterward.

Here is the thing. It's very common to gain over 1000% in real estate.. E.g I put $5000 down on a house on King and 3rd and got hard money loan for the purchase and fix. Sold it 8 months later and profited $98000. My ROI is close to 2000%.

Portfolio holding yield much higher.. What's few pennies earnings on each share (e.g my citi stock worth $50s earning only 9 pennies) is nothing compared to say $10k Downpayment on a rental unit and earning $500-600 profit a month or $7200 a year on that initial $10k investment. That's not counting the capital gain that stock guys love so much.

I am glad you are on something good to grow your money. I am lazy, I don't have the time or energy to get into stock and actually 'work.' My current venture is to open a gun store to feed my weekend fun.


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[ChunkyMonkey]

I currently have excellent credit, however, I just refinanced my house in the last month. I need a new credit card to get something going. Does anyone know if the hard inquiry for my refinance will pull my score down enough that I won't be able to be approved for a card that requires excellent credit?
Alternatively, I've started a business, and could also apply for a business card. When setting up a business line of credit, is my personal credit worthiness considered, or just that of my brand new business?

Timing. During which your old mortgage shows paid off and your new one hasn't shown, you credit gain many points. It will drop back down a bit on the new mortgage until you show few payments.

Edit: quick business credit tip.. Get your D&B account going then get store credit under the business. Few stores that I know approve 2k-5k and report the activity to your business credit file is Staples and SAMs.

It takes a year or so to build up credit for your biz. It has been 3 months for damagefactory.. And we already got approved for $50k or more line of credit.

Good luck


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[Superorb]

I currently have excellent credit, however, I just refinanced my house in the last month. I need a new credit card to get something going. Does anyone know if the hard inquiry for my refinance will pull my score down enough that I won't be able to be approved for a card that requires excellent credit?
Alternatively, I've started a business, and could also apply for a business card. When setting up a business line of credit, is my personal credit worthiness considered, or just that of my brand new business?

How many hard inquiries do you have on your credit files? Anything under 2-3 with a good credit score (740+) and you can get almost any CC out there. Biz CCs will pull your personal credit file to make their decision, but once you get the card any balances will not show up on your personal credit file. At one point I had 18 open credit cards, and my score actually went up due to my utilization percentage going down with the new found credit line across accounts. I apply for CCs several times a year for the miles and points, and my score is an 812-816 at all 3 agencies. We were able to do a 4 week around the world trip to 13 cities and 9 countries for free. All we paid for was food and entertainment. Planes, trains, and hotels were all paid with points, and we flew business class on Lufthansa, Thai, Air China, and United. (Los Angeles, Amsterdam, Brussels, London, Paris, Luxembourg, Heidelberg, Frankfurt, Bangkok, Kuala Lumpur, Singapore, Monterey, and San Francisco) This summer we're doing 3 weeks to Hong Kong, Macau, Bali, and Bangkok all in Cathay Pacific first class. That's over $50k in flights for under $300 in taxes and fees. Last year's flights were only $28k + $175 in taxes and fees.

What card(s) are you looking at?

[MrPrena]

Yeah, glad that you are doing good at real estate.

It is extremely common to gain over 1000% in options within 3month. Sometimes you will see 10,000%. KEY WORD IS "YOU GOTTA KNOW WHAT YOU ARE DOING"
:)

Yeah, I am lazy too, and I don't have time to sit around trying to "borrow" money at the bank. Those mortgage (or lending) process is pain in the butt.
You are confusing investor/trader with "full time brokers" who sits around and watch the stock and cold call.
I rarely sit at the computer now. I am not a day trader. :D
I think my time doing financial analysis is probably less time than some residential/commercial real estate investors spends on zillow/commercial website.

This post reminds me of on the car forums (renntechandM3post). Making it short, one kid onRenntech who brag about how much he makes on commercial real estate got hammered by securities investor "big doggs" :D
I wonder why there are not too many real estate billionaire tycoon relative to hedge fund billionaire. (Wynn made his hotel into public too to become a billioanire) HEHE :D

ETA: reference to Citi Stock. Owning a Citi stock is like having 1acre of raw land on the boarder of WY and CO. It will not go anywhere.


It has been long time. I actually sold another rental resulted in this. My estimated capital gain tax was $58k that year. I don't keep track afterward.

Here is the thing. It's very common to gain over 1000% in real estate.. E.g I put $5000 down on a house on King and 3rd and got hard money loan for the purchase and fix. Sold it 8 months later and profited $98000. My ROI is close to 2000%.

Portfolio holding yield much higher.. What's few pennies earnings on each share (e.g my citi stock worth $50s earning only 9 pennies) is nothing compared to say $10k Downpayment on a rental unit and earning $500-600 profit a month or $7200 a year on that initial $10k investment. That's not counting the capital gain that stock guys love so much.

I am glad you are on something good to grow your money. I am lazy, I don't have the time or energy to get into stock and actually 'work.' My current venture is to open a gun store to feed my weekend fun.


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[sroz]

So Chunky, when can we expect the grand opening of the gun store? And what location are you thinking?

[RonMexico]

MrPrena,
I don't think Chunky was attacking you or your way of making money. I think most members on this board prefer to have assets that are tangible, as most of us like firearms, gold/silver, property/real estate among other things.
Chunky is a great guy and has help me and I have helped him. First, I was finishing up school while waiting to relocation for my career and chunky knew I has a rental for 10 years, so he asked if I could help him flip/renovate a few of his projects. He personally, gave me 1-5k to make simple yet effective modifications and to make sure the jobs were done correctly yet efficiently. After just weeks or a month, chunky would show me his closing numbers and I was shocked to see how easy or quick money could be made in the current real estate market. Now, to my house: chunky with a few of his connections was able to help me make modifications to my house that cost only several $$$ but I return added $$$$. This spring I will be installing a brand new AC with new wiring and pipe for under 1k.... I am stoked bc I know this will add 3-5k worth of value to my rental or $150 more in rental income. Hopefully in the next decade, my Gf and I can buy one or two properties and expand our real estate portfolio to chunky's level.

Overall, if anyone on this board is looking at a property, please contact chunky monkey as he truly know what he is doing.

[Irving]

How many hard inquiries do you have on your credit files? Anything under 2-3 with a good credit score (740+) and you can get almost any CC out there. Biz CCs will pull your personal credit file to make their decision, but once you get the card any balances will not show up on your personal credit file. At one point I had 18 open credit cards, and my score actually went up due to my utilization percentage going down with the new found credit line across accounts. I apply for CCs several times a year for the miles and points, and my score is an 812-816 at all 3 agencies. We were able to do a 4 week around the world trip to 13 cities and 9 countries for free. All we paid for was food and entertainment. Planes, trains, and hotels were all paid with points, and we flew business class on Lufthansa, Thai, Air China, and United. (Los Angeles, Amsterdam, Brussels, London, Paris, Luxembourg, Heidelberg, Frankfurt, Bangkok, Kuala Lumpur, Singapore, Monterey, and San Francisco) This summer we're doing 3 weeks to Hong Kong, Macau, Bali, and Bangkok all in Cathay Pacific first class. That's over $50k in flights for under $300 in taxes and fees. Last year's flights were only $28k + $175 in taxes and fees.

What card(s) are you looking at?

All I'm after is something that allows 0% interest balance transfers. I have enough freed up credit on current cards to buy what I need, and income from that purchase will ideally pay itself off in 12 months. If not, I can afford paying off the total amount in 12-15 months at 0% interest with my normal income if I need to. The card isn't that important because for the most part, I'll never really use it except for holding the initial debt.

Now, I post about this here because I know I'm approaching this from a personal expense stand point, and there are probably better ways to accomplish what I want. I value the input from everyone so far. I feel like I'm not transitioning into the business mindset quick enough, so I'll probably set up lunch with Chunky and/or some other business owners to show me the ropes.

[RonMexico]

So Chunky, when can we expect the grand opening of the gun store? And what location are you thinking?

The online store is up and running www.Damagefactory.com
To get the name out there we currently have a $10 Bushmaster raffle, check it out.
http://damagefactory.com/?product_tag=raffle

Store front will be in the same building as the current office- I-25/Orchard

[Superorb]

All I'm after is something that allows 0% interest balance transfers. I have enough freed up credit on current cards to buy what I need, and income from that purchase will ideally pay itself off in 12 months. If not, I can afford paying off the total amount in 12-15 months at 0% interest with my normal income if I need to. The card isn't that important because for the most part, I'll never really use it except for holding the initial debt.


The Chase Ink Cash Biz card has a 0% for 12 months offer right now. I have the premium, charge card version of that card and love it. It's my primary Biz card.

[Irving]

I found one for 15 months, but don't have the info on me at the moment. Probably what I'll go with.

[brutal]

Timing. During which your old mortgage shows paid off and your new one hasn't shown, you credit gain many points. It will drop back down a bit on the new mortgage until you show few payments.

Edit: quick business credit tip.. Get your D&B account going then get store credit under the business. Few stores that I know approve 2k-5k and report the activity to your business credit file is Staples and SAMs.

It takes a year or so to build up credit for your biz. It has been 3 months for damagefactory.. And we already got approved for $50k or more line of credit.

Good luck


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I would expect the opposite. I have seen "your open credit on real estate accounts is too low" as a negative on my credit reporting. I have excess equity (> 2:1 value) in my property and am well on the way to paying off my mortgage early.



All I'm after is something that allows 0% interest balance transfers. I have enough freed up credit on current cards to buy what I need, and income from that purchase will ideally pay itself off in 12 months. If not, I can afford paying off the total amount in 12-15 months at 0% interest with my normal income if I need to. The card isn't that important because for the most part, I'll never really use it except for holding the initial debt.

Now, I post about this here because I know I'm approaching this from a personal expense stand point, and there are probably better ways to accomplish what I want. I value the input from everyone so far. I feel like I'm not transitioning into the business mindset quick enough, so I'll probably set up lunch with Chunky and/or some other business owners to show me the ropes.

You might shop around a few credit unions, they're usually hungry for CC biz. Thing is, you're going to pay an up front fee for any 0% through xx 2016 offer. You may be better off getting a NO FEE transfer with a super low rate. Just a thought.

[Irving]

I think 3% up front will be cheaper than 12% over 12 months, but I haven't done the math yet. I usually set very aggressive payment schedules on stuff like this as well.

[Superorb]

I found one for 15 months, but don't have the info on me at the moment. Probably what I'll go with.

Which card? In any case, NEVER get a Capital One card. They do 3 hard inquiries (1 for each bureau) and their cards are usually never as good as offers from other banks that only do 1 pull per application. And multiple inquiries from the same bank on the same day usually results in the pulls being merged into just 1 pull.

[Superorb]

Does anyone here know a Buyer's Agent for new construction?

[ChunkyMonkey]

Does anyone here know a Buyer's Agent for new construction?

Most agents will not say no to new construction. If you haven't found one, pm me.


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