How to make 200% on your money, an example for those with limited funds

[MJ DeMarco]

Here's a great example on how to make 200% on your money, or more.

Every so often we get someone here that can't scrap together $2,000 and thinks asking for investors is the best place to start. My initial thought on these posts is that if you can't scrape together $2G, or save it from your Slowlane job, you have no business getting into business.

Here's an example -- had I not been residentially displaced w/no garage/storage, I would have done this to feature as an example in my book.

Take a look here:

*online only auction of the inventory at North American Enclosures in Phoenix, Arizona at Arizona's best auction company, AuctionAZ.com

This is an auction site here in AZ that does bankruptcies and consignments.

Navigate to the mirrors section.

Notice the final bid prices.

These mirrors could have been bought in the range of $2-$4 per piece. (Lot 444 has 200+ units) The retail on these things would be $30 or more. Anyone could have easily bought these and thrown them up on Amazon or Ebay an instantly make 200% or more on each piece. (Buy some boxes, packing material, and some "fragile tape" for UPS shipping.)

In other words, $600 could have easily turned into $2,400.

With access to worldwide distribution channels (eBay, Amazon) deals like this are easy to find.

The second option is to call a home furnishings store and sell the pieces bulk, at $10 per piece for a quick disposition.

No money?

Bull shit.

Use your head.

 

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[AllenCrawley]

I would make a killing at an auction like that. My wife asked me just the other day about finding some auction houses there. Thanks for the link.

 

[InMotion]

31 Boxes Of Molding, 10,135 Feet [all for one money]

Almost 2 miles of picture frame molding sold for $156.00 in todays auction...LOL

 

[glenm]

That is a great way to make some quick cash, how could you scale it into a business?

I ask this because its similar to my business and I am struggling to find a way to scale it.

 

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[MJ DeMarco]

That is a great way to make some quick cash, how could you scale it into a business?

I'm not saying this is Fastlane, I'm saying this is how one would turn $500 into $2000 fast. This thread is for people who don't know how to get started. This thread is for people who would rather focus on investing a small sum of money into the stock market (turning $500 into $510 within 1 year, oh boy!) rather than just using plain old hustle.

 

[Johnathan Ta]

I'm constantly interacting with other people around my age (20) and am just absolutely flabbergasted at the amount of debt some of them are in. Brb can't afford a gym membership but currently leasing a brand new vehicle?

 

[InMotion]

I'm constantly interacting with other people around my age (20) and am just absolutely flabbergasted at the amount of debt some of them are in. Brb can't afford a gym membership but currently leasing a brand new vehicle?

Government backed student loans are currently robbing millions of their futures. Most of these people are in for a lifetime of debt servitude without possibility of parole.

If I had a site like this to learn from when I was your age...lets just say you are probably miles and going to continue to be miles ahead of your peers. C-suite is on a mission to fire all full timers over the next 10-15 years .... Mercedes payments will be hard to make then...except for fastlaners.

 

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[Yankee427]

Government backed student loans are currently robbing millions of their futures. Most of these people are in for a lifetime of debt servitude without possibility of parole.

Yeah, I have this debt and I realized at the beginning of this year how toxic this debt is. Right now that is the only reason I am stuck at a Slowlane job is to pay off this enormous debt while trying to build a fastlane business. The debt is not really helping anything except for the interest the banks and govt are getting from me.

I guess I had this mentality at one point but didnt really realize this is the minimal basis for a fastlane business.

I found a/v receivers on ebay refurbished and this company could not sell internationally. I bought one from him and sold them internationally for $380 when I bought them from the US dealer for $200.

 

[TopChef]

Terrific find. Thanks MJ!

I looked in my home city and was able to find auction houses locally. There are some incredible deals here to be had.

That is a great way to make some quick cash, how could you scale it into a business?

I ask this because its similar to my business and I am struggling to find a way to scale it.

Glenm. I think an interesting path would be to create your own auction house in the city you live in. If you think about it, what they are doing is no different than what the average ebay guy is doing except the scale is much larger.

You would have to figure out some of the processes that these guys use to get their inventory, but after a point you become big enough to start having people come to you.

If circuit city gets liquidated, the big guys will pick off all of the inventory before you get a chance to. But what about the rest of the things that need to be liquidated? What about the ten foreclosed homes in your town where people left all their crap before leaving. Do you think banks want to sell it on ebay? What about the local restaurant that went out of business? There are opportunities that would come up to get all the inventory of a busted business for free just to clear out the space.