Game: How would you turn $200 into $2000 by Jan 1st?

[ceoarob]

Hey everyone,

I usually post in the blog section, but decided to come over here and show some love.

If you haven't been keeping up:

https://www.thefastlaneforum.com/blogs/ceoarob/45-day-1936-breakthrough.html

This is the hottest new blog on TheFastlaneForum. It's my personal journey that I've been updating with my unedited, unadulterated thoughts. I update it daily about everything that I learn, experience, and do in regards to living in the Fastlane.

This is a challenge that I've set for myself to see how well I could fill a need.

Any and all feedback or ideas is definitely welcome and appreciate.

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So the Holidays are ripe with cheer and spending. Since both Christmas and New Years are coming up, here certainly has to be a way that one could get in on the action.

Last night, I decided to set my first financial challenge to myself - turning 200 dollars into 2000.

I currently have 200 dollars in cash. I can transfer that to my debit card, or do whatever I want with it.

My question is: How could I turn that $200 into $2000 within 30 days?

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Naturally, I started asking questions like: What would be the best investment to make? How can I get rich off of gambling? What lottery could I win?

A couple of ideas popped into mind.

While I was brainstorming, this is what came up:

-Gambling
- Poker
- **Buy Insurance leads and work them
- Create something and sell it
- ****Find a need or create one and fill it
- Forex
- Stocks
- Bonds
- Investments
- Real Estate

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Since filling a need was the most appealing of them, I decided to go a little bit further...

I asked myself, "What could I do that would help make someone's life easier, better, or just simpler?"

These ideas started coming to mind:

- Sell books. Specifically, sell Ebooks. Take a Holiday public domain ebook, edit it, give it a complete redesign, add some pictures and illustrations to it, make the text more readable, and market it as a single book or a package of books that would be considered "Good Holidays Reads"

- Put up a website for Xmas, New Years deals, coupons, or savings. Since there's going to be alot of seasonal traffic, I could at least capitalize on that.

- I could create a website that has something to do with Hanakuah or Kwanzaa - it seems that those holidays kinda go missed, lol. Or it could even be some extremely obscure holiday. I actually don't have a good business system to capitalize on that, but the raw idea just came to mind...

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So I'm curious, what would *you* do in order to take $200 dollars and turn it into $2000

I'm interested in everyone's feedback. Cheers.

-AR

 

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[MJ DeMarco]

While this might not be fastlane, I'd say become a remarketer.

Go to a local thrift store or garage sale, buy something, polish/fix it up, and throw it on Craigslist (or Ebay) and try to sell it at 100% profit. You'd be surprised at how you can market something to increase it's perceived value -- better descriptions, better pictures, etc.

 

[Jonleehacker]

There's a nice setup right now going short EUR/USD, that would be my plan.

In general though, I agree with MJ. Brick & Mortar is where the best opps are at this late timeframe...

Getting setup to sell an ebook will probably take you longer than you think. Xmas sales on my sites have been in full swing for a month now, so you late to the game. It will be starting to die by Dec. 15.

some of your other ideas are solid.

Good luck.

 

[Luke12321]

If you have access to a truck. I would go out to your most close by rural area, find the cheapest seller of firewood. Buy a $100 worth, nego the price and get the best deal possible. Take it the your near by city....throw up craigslist ads, cardboard sings at the most busy intersections (free advertising) then mark it up at the very least 200%. Deliver small loads to residential areas. Rinse and repeat, 10 times and you would have it.

 

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[Guest3722A]

Put all of the metal scrappers out of business by making flyers and telling residents to call you exclusively and you'll give them a percentage of the profits. Set up the pick ups one day during the next couple weeks and go rent a uhaul for $30-$40.

 

[NHS]

While this might not be fastlane, I'd say become a remarketer.

Go to a local thrift store or garage sale, buy something, polish/fix it up, and throw it on Craigslist (or Ebay) and try to sell it at 100% profit. You'd be surprised at how you can market something to increase it's perceived value -- better descriptions, better pictures, etc.

I do stuff very similar to this.

Like anything else it takes a bit of knowledge. More then likely your first time out your gonna lose that $200. But I am pretty good at it and could turn 200 into 2000 within 2 months.

Thing is you would have to be very selective in what you purchase. What normally happens is I buy 1000-2000 a week in stuff and some moves fast and some takes 3 months to sell. I usually make good money and now and then you just break even.

Biggest mistake right now is buying big ticket items hoping to get the big payout. I have never made a sale over 1k. But dam if I don't have alot of high end art because of my mistakes.


Oh also the best thing you can do for yourself is get a van or truck. Much cheaper to drive every day then my porsche and I really don't care what people think anymore. I will pickup furniture on the cheap and sell on craigslist and deliver it for $75-100. I paid 3k for my van and I would say it's paid for itself.

 

[ceoarob]

Yeah, I'm definitely following through with these ideas.

I'm finding some people who live close to me and seeing what we can pull together.

It sounds like it's going to be a Brick/Mortar type of plan with some Remarketing going on.


Cheers.

 

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[fastlanecurious]

I am also doing something similar, I just bought an electrical device from someone on craigslist for 40$ which is selling on ebay for 60 +, i just need to buy one more part for it.

we can compare results in 30 days, and see who made the most money ^.^ I also am willing to put in a few hundred dollars.

the wood idea was pretty good, but il keep thinking.

 

[Oceanside]

I think the advice here has been pretty spot on when they have mentioned "reselling".

It's the only "real shot" you have at making 10x your investment in less than 30 days.

While there is a good set up on shorting the EUR/USD if you set the leverage so high that you want to 10X your money in 20 days.....you are simply throwing darts at a dartboard....with a blindfold on......and you've been drinking all night.

Not a good bet. Especially with Obama opening his mouth about taxes every other day right now. Who knows what the USD is going to do.

We all have a pretty good technical and fundamental train of thought on the EURO....but the USD in my opinion is volatile right now and will be for the next 6 months.

 

[NHS]

I have one item that most people look at as trash. I clean it up and sell it for 5-10 times what I pay for it. When I seem that one item my eyes just light up. If I can get $200 of that item I will have $1000 in 2 weeks easy. Then repeat and you got your 2k.

Sadly I only find about $200 of that item a month. And no I will not share what that item is. Unless you send me $200 HAHA. Get 10 of you to send me $200 and I got that $2000.

 

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[fastlanecurious]

tell you what, if i think i can make 200$ off of it more than once, il send you 400$ AFTER i make the money so what would that special product be? ^.^

 

[BrandonAg]

I was thinking I would go out this weekend to some garage sales looking for furniture to buy (tables, end tables, etc), paint them to give them a more modern look and bust out the camera to get some great shots of them so I can throw them up online. Then I got to thinking that maybe with Christmas right around the corner people won't be too interested in finding furniture? I could be wrong. Maybe something more Christmas oriented would be better?

 

[Anon3587x]

lol I'm totally kidding. I'm watching Gang Wars.

 

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[NHS]

I was thinking I would go out this weekend to some garage sales looking for furniture to buy (tables, end tables, etc), paint them to give them a more modern look and bust out the camera to get some great shots of them so I can throw them up online. Then I got to thinking that maybe with Christmas right around the corner people won't be too interested in finding furniture? I could be wrong. Maybe something more Christmas oriented would be better?

If you want to try furniture what seems to be big if marketed in the right place is Mid Century Modern. Every yuppie in NYC wants this stuff. I find it all the time at great prices but I just don't have the room to buy it. But you could easily triple or quadruple your money on this style. Offer to deliver for $100 and hire a day laborer.

I only tell you all this because I don't have the space to do it myself so it's a freebie.

Christmas stuff is a waste. 99% of people buy the cheapest junk they can find. I stocked up on really high end Christmas stuff and haven't sold any of it. On the plus side I got about $4k in decorations on my tree. If you can get overstock cheap garbage at the end of the season and hold it for a year then you can make money.

 

[BrandonAg]

NHS,

speed for you! Thank you! I will keep an eye out this weekend when I am looking! I really appreciate the little freebie I went back and read your first post and did not even notice you recommended furniture! Awesome!

 

[MsPacMan]

Walk into the nearest mall

purchase $100 in hot clothes, $20 worth of lotion, and hooker boots $40
save $40 for gas.

Then go to the nearest strip club, get hired, and earn $100 per night.

$100 x 7= $700 x 4= 2.8 K USD

done.

(and $100 is low)

 

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[MJ DeMarco]

Walk into the nearest mall

purchase $100 in hot clothes, $20 worth of lotion, and hooker boots $40
save $40 for gas.

Then go to the nearest strip club, get hired, and earn $100 per night.

$100 x 7= $700 x 4= 2.8 K USD

done.

(and $100 is low)

You're gonna get one warning, and one only. All this talk of porn, stripping, and other red-light "business ventures" will not be tolerated here. There are OTHER FORUMS on the web for this -- this is not one of them.

 

[alainn]

so what happened? did you make any money before january 1st? I'm interested in seeing how this turned out. I set myself a similar goal. I was inspired by a thread on the rich dad forum from a long long time ago that challenged people to turn 40 dollars into 400 dollars.

 

[Excalibur]

I haven't seen this thread until now.

I do well with restaurant equipment and vehicles.

Two recent deals I did: piece of restaurant equipment bought for 310 at auction, turned it for 3,300. Bought a Chevy Astro at a government auction for 205. After a new battery and fresh oil change I sold it for 1,200.

 

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[1mancrew]

After reading this post a few weeks ago I have been asking friends and co-workers this question. Most people have a blank look and don't have a clue. The most common answer I got was "play the lottery".

One person did say he would buy something and resell it, but didn't know what he would buy.

I am going to try this challange starting tonight to turn $200 into $2000 by the end of the month buying and selling items. Even if I don't make it all the way to $2000, I will be better off than I am now.

Anyone else want the challange?

 

[John Rogers]

While this might not be fastlane, I'd say become a remarketer.

Go to a local thrift store or garage sale, buy something, polish/fix it up, and throw it on Craigslist (or Ebay) and try to sell it at 100% profit. You'd be surprised at how you can market something to increase it's perceived value -- better descriptions, better pictures, etc.

That's how I got my start in the mid-90's. My first little hobby business was buying surplus computers from Boeing, slapping modems and and sound cards in them, putting an OS and some basic software on them, and reselling in an area that had a shortage of used computers. Then along came emachines with cheap or free computers for committing to an internet service contract, and my market went dead. I went from that to selling mainly non-fiction books and Nightingale-Conant type cassette packs on eBay. I did that from about 1996 to the time I was deployed in 2003. I didn't put a whole lot of time into it and was generating an extra $600 or so a month in income.

As MJ said, it's not fastlane, but it is a good way to generate some instant cashflow.