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

[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.