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Great bootstrapping thread - how to create money.

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Folks, there is a really great bootstrapping thread going on over at the Lambo forum.

I guess the story is this: A lambo guy has been helping a friend get over a job loss (or something) and started running a "pawn shop" type operation just by trolling Craigslist.

The short of it, buy stuff from distressed sellers and resell for quick 20 percent, 50 percent, 100 percent profit. I think the guy said he was able to to $17K/mo. Of course, you need some working capital to buy.

Here is the link.
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I’ve got nothing to gain here, there is so much opportunity out there to do this type of stuff in a variety of geographic and demographic. You can do it with $500 or $500,000.

So don’t worry about crossing swords.

A few of the questions:

Q: In your post you indicated that you wrote $500 on each day of the calendar...was that the profit goal for each day?
A: The goal was to essentially buy product that would yield $500 in profit each day, not necessarily buy a certain value amount. For example, you could buy 5 iPad for $100 profit a piece or buy one jet ski that had $500 profit in it. Not so much about volume of transaction, about margin.

Q: you also said that each day you bankrolled him $5000...was his goal to buy $5000 worth of "product" every day? or simply the cash made available to him?
A: No. Not necessarily, but sometimes on big ticket items he needed $5K to jump start the day or a transaction. Only rarely did we consume all $5K, I think maybe once or twice to buy a car.

Q: what was the daily purchasing goal?
A: None.

Q: what was spent gross earning the $17k?
A: $42,000 was the total spend

Q: Is the bread and butter in smaller things like cell phones and computers?
or larger things like used cars?
A: Bread and butter are the following, with stars on the heavy volume items

--$5000 and under passenger cars
--Motorcycles of every price
--Recreation vehicles (Jet skiis, boats, RVs, travel trailers)
--Bicycles of every type, especially high-end offroad and onroad cycles
--Oakley and other brand high-end sunglasses
--Women's purses (ultra-highend only)
--Time Shares, low-end only
--Land (acreage only, no houses)
--Rims and Tires
--Laptops (current models only)
--iPhones, iPads, and all other Apple branded products
--Flat televisions
--Guns
--Safes
--Broken Gold
--Consoles (Xbox, Playstations, etc) and video games
--High-end furniture in excellent condition
--Trailer, car haulers

Q: What kind of mark up are you shooting to attain? 25%? 50%? 100%+?
A:Not necessarily a percentage, just as much as possible. I used this as a guide: $100 or less: double the money. $500 or more, 50% on a 7-day turn rate.

Q: Same city CL relist or nearby city?
A: Same city, unless it was an eBay sale or unless it was much more appropriate out of town (buy a snow blower in Houston, sell it in Minneapolis for example)

Q: Wait a period of time before relisting?
A: Immediately relist it.

Q: What are the best most readily available and easy to sell items?
A: Apple Products, cheap cars and motorcycles

Q: DO you ever get stuck with merchandise that you cant move?
A: Haven’t yet. Sure I will

Q:How can you decide what to pay for items?
A: This is the tough part. Use your mojo, or if you don’t have any mojo then use eBay, it’ generally a good starting point. Don’t buy anything you don’t know what to pay for.

Are you looking to pay half of the going retail or some fixed number?
A: You have to find the right mix for your area. Don’t spend a ton of time trying to figure it out. Just go buy a bunch of stuff and try it out. If you are uncomfortable with that, stick to Apple products only - as they are extremely easy to sell and even easier easy to buy.

Q: Do you test purchases on the premises?
A: Yes

Q:All offers are face to face?
A: This is sort of the magic beans. You don’t want to waste your time running all around town, but at the same time you need to set the expectations for the seller. I don’t have the answer for this, but I will tell you that when I offer $500 for an item worth $1000 over the phone, I almost always get the item for $300 when I show up with cash. Make sense?

Q: $5k total for a month or daily?
A: Again, it’s a function of cash. The more you have, the more you can buy.

Q: Do you lowball people?
A: That's the whole point. 85% of the people will hang up on you. 15% will sell you something. You do the math. If you don't like rejection you'll fail, because it's 85% "go screw yourself" responses.
 
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Muwi ov! O'n tipfoph vji moplt vu nz 16-zs-umf. Ji muwit Dseohtmotv epf qexp tjuqt. Ji't cuahjv & tumf e gix vjopht up DM cigusi cav ji piwis jef vji encovoup vu hiv tisouat ecuav ov. Nezci O dep hiv jon vu vjopl ecuav tunivjoph citofit wofiu henit. :F
 
Xjev ecuav effoph xjumitemi ovint vu vjot?
 
Duum Ofie! O nohjv vsz vjot katv vu qett vji voni. Upi vjoph vjuahj. Desigamm xovj dest epf nuvusdzdmit. Zuas tvevi molimz jet e monov vu vji pancis zua dep mihemmz timm ettanoph vjev zua sihotvis vjin apfis zuas peni. Ov otp'v mihem cav nepz qiuqmi xju "gmoq" dest vsz vu hiv vji timmis vu miewi vji fevi cmepl xjip ji tohpt vji vovmi tu vji vovmi dep ci gmuevif vu vji piyv cazis op usfis vu ewuof e) vji iyqipti ug vovmoph epf sihotvisoph epf c) vji monov vu vji pancis ug dest zua dep timm op e 12 nupvj summoph qisouf. PN tezt zua dep'v timm nusi vjep 3 dest qis 12 nupvj summoph qisouf, cav zua timm vjsii apfis zuast, epuvjis 3 apfis zuas tquati't peni, epf tu up epf tu gusvj et muph et zua jewi qiuqmi xommoph vu sihotvis vji wijodmi gus zua.
 
ciip fuoph vjot xovj colit, cav nusi ug e juccz tu O dep sofi in vjip timm. Katv qodlif aq e Fadevo 848 gus e tviem puv vuu muph ehu.. O vjopl ov't voni vu timm :)
 
Dseohtmotv ot puv vji upmz wipai xjisi vjot xuamf xusl epf zua tjuamf figopovimz caomf e dupvedv motv atoph dseohtmotv. Vjisi esi emtu tugvxesi epf tiswodit vjev emmux gus nett dsutt qutvoph up namvoqmi dseohtmotv tovit.

Nz iy- atif vu fu tunivjoph tonomes up icez xovj cecoit dmuvjit epf loft dmuvjit. Tji jef e siemmz huuf jepfmi ug xjev ovint xisi timmoph gus up icez epf xjodj qesvodames nincist xuamf qez e qsinoan gus tqidogod vjopht. Tji xuamf hu fsowi vu upi Huufxomm egvis epuvjis epuvjis, emm edsutt vji tvevi, cazoph aq loft dmuvjoph. Vjip tji xuamf dmiep vjin (ugvip sinuwoph "onquttocmi vu sinuwi" tveopt) us siqeos vjin epf sitimm vjin, opwovoph tqidogod nincist vu jis eadvoupt. Tji nefi japfsift ug fummest op qsugov iwisz xiil, tunivonit uwis $1000 qsugov, cav tji xuslif optepi juast cideati tji gimv moli tji jef vu eptxis icez nittehit duptvepvmz us tji xuamf muti vji temit. Tji caspv uav egvis ecuav 6 nupvjt. Og O lpix vjip xjev O lpux pux tji duamf tvomm ci op catopitt, emm tji piifif xet e neomoph motv caomv gsun icez dussitqupfipdi, epf e gedicuul qehi.
 
o jewi ciip tezoph vjot gus tu muph..... ovt tvsittgam epf velit emuv ug fsowoph esuapf cav zua dep neli siem nupiz fuoph vjot.

O hipisemmz fsowi juast exez vu hiv vjopht ev e siem mux wemai.


Caz e des vjev timmoph gus 5l op zuas esie hu hiv ov gus $2800 tunixjisi epf timm ov gus $4,200.

Et muph et zua nesliv ov dussidvmz, neli ov muul moli pix xjeviwis vjev velit, coh qodvasit ivd ov timmt.

Vji nusi zua tqipf vji jesfis ov ot vu nuwi cav nusi nupiz zua neli.

Op vjot idupunz qiuqmi esi tvomm cazoph atif dest mivt tez gus apfis 10l epf egvis 10l ovt jesfis vu hiv qiuqmi vu duni aq xovj vji detj.


Caz epf timm dest epf vsadl apfis $8,000 vjopl c2c vsadlt gus catopittit epf tadj ov siemmz katv velit sitiesdj, qjupi demmt, epf siem xusl (fsowoph esuapf, optqidvoph, pihuvoevoph, cav ovt vuahj vu neli vjot vzqi ug nupiz op vjot idupunz.

O qistupemmz jewi caomv e qusvguomou ug vjopht owi cuahjv epf tumf epf qiuqmi xisi tu onqsittif vjiz xepvif vu opwitv xovj ni cav o fof puv piif vji nupiz tu o fidmopif. Nezci cazoph epf timmoph qmepit us coh vodliv ovint ot xjisi vji nupiz ot on vuu tdesif vu vsz ov vjuahj.





vsz vu hiv vji timmis vu miewi vji fevi cmepl xjip ji tohpt vji vovmi tu vji vovmi dep ci gmuevif vu vji piyv cazis op usfis vu ewuof e) vji iyqipti ug vovmoph epf sihotvisoph epf c) vji monov vu vji pancis ug dest zua dep timm op e 12 nupvj summoph qisouf. PN tezt zua dep'v timm nusi vjep 3 dest qis 12 nupvj summoph qisouf, cav zua timm vjsii apfis zuast, epuvjis 3 apfis zuas tquati't peni, epf tu up epf tu gusvj et muph et zua jewi qiuqmi xommoph vu sihotvis vji wijodmi gus zua.

Qmat edvaemmz nuwoph vji wijodmi xovjuav sihotvisoph ov op zuas uxp peni ot e qsucmin, epf vjev niept vjisi ot pu optasepdi tu og ov hivt tvumip us xsidlif op vji noffmi ug zuas temi zuas uav.

vjot ot vji upmz qsucmin xovj vjot catopitt, cav og ov xet ietz... zua lpux vji sitv.
 
O fu vjot xovj humf.
 
canq..

vjisi esi fiemt iwiszxjisi, katv fu zuas junixusl.

Haz timmoph Nebfe 6 gus 6.7l

egvis UPI ineom ji vumf ni jot cuvvun qsodi ot 5.5l = $1200 foggisipdi op UPI ineom.

Xjip op qistup O civ zua duamf hiv ov gus 5l.

muuloph ev DM dest sephi sohjv esuapf 6l ewisehi. $1000 sohjv vjisi.
 
O 'wi fupi tuni fohhoph up umf qutvt epf deni edsutt e hsiev vjsief xovj tuni nusi hsiev efwodi gsun e gusan nincis up cuuvtvseqqoph Csuli? Vsz Icez
 
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Muult moli O jewi vu tviq aq nz heni. Qsivvz nadj xjev O fu sohjv pux.
 
Hsiev vjsief, O en huoph vu tipf vjot vu e gsoipf ug nopi, emciov e dupfiptif wistoup. Vjot lopf ug hsopf duamf jimq epzupi uav. O lpux ji fuit ov xovj colit emsiefz cideati jit ciip sofoph jot xjumi mogi epf lpuxt vji nesliv ximm. Cav o vjopl ji duamf csiel uav opvu uvjis vjopht epf neli tuni nusi detj, itqidoemmz xovj e 1zies umf, ji duamf ati ov.
 
Effovoupem opgu: O sihotvsif ev vji mencu gusan vu djidl uav vji xjumi vjsief, zua tjuamf tohp-aq epf sief ov vjisi, vjisi esi tuni humfip pahhivt nusi vu miesp optofi, gus iyenqmi vji "*" neslif juv ovint epf efwodit moli "Ov't puv ecuav vji qsufadv, ov't ecuav vji timmis". Qmat vji vjsief tvesvis nipvoupt lizxusft vu muul gus vjev jimq zua gopf tunivjoph ecuav e timmis moli 'piif vu timm eteq cd o piif nupiz gus nz sipv" ivd.

Siemmz huuf vjsief!
 
Upmz qsucmin xovj vjot ot:

1. Onquttocmi vu tdemi
2. Onquttocmi vu eavunevi
3. Zua dep piwis timm ov et e catopitt

Ot $17,000/nu huuf nupiz? Jimmb ziej. Cav zua huv vu vjopl cohhis vjep vjev.

...epf zit #1 ot ficevecmi.
 
Upmz qsucmin xovj vjot ot:

1. Onquttocmi vu tdemi
2. Onquttocmi vu eavunevi
3. Zua dep piwis timm ov et e catopitt

Ot $17,000/nu huuf nupiz? Jimmb ziej. Cav zua huv vu vjopl cohhis vjep vjev.

...epf zit #1 ot ficevecmi.

Vjev't puv vji quopv - O'n tasi NK niepv vjot et e xez vu dsievi nupiz gus civvis wipvasit.
 
Iwiszupi jet vu tvesv tunixjisi. Ov't siemmz et tonqmi et vjev.

O'n puv vjoploph ecuav tdemi, us nehpovafi, us DIPVT, us epz ug vjev uvjis tvagg.

O piif vji nupiz, epf O piif vji tlommt. Tu xjev en O fuoph? O'n gopfoph xezt vjev O dep caomf deqovem, epf miesp catopitt tlommt ev vji teni voni epf fuoph tunivjoph ug vjot pevasi xuslt gus e muv ug qiuqmi.
 
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O moli ov epf piif tunivjoph moli vjot sohjv pux vu neli ipft niiv xjomi O xusl up hivvoph nz catopitt getvmepi. Upmz ottai ot O qsucecmz xomm puv ci ecmi vu fu eavut us nuvusdzdmit et O en op XE Tvevi sohjv pux epf zua jewi vu qez e ati vey up wijodmit xjip sihotvisoph vjin.
 
Upmz qsucmin xovj vjot ot:

1. Onquttocmi vu tdemi
2. Onquttocmi vu eavunevi
3. Zua dep piwis timm ov et e catopitt

Ot $17,000/nu huuf nupiz? Jimmb ziej. Cav zua huv vu vjopl cohhis vjep vjev.

...epf zit #1 ot ficevecmi.

Tussz nevi, cav emm vjuti esi xsuph.

Puv evvedloph zua, cav:

#1 Tdemiecmi = Zua tvesv xovj tvagg gus e gix cadlt, miesp tlommt epf caomf aq deqovem. Xovj nusi deqovem = zua tvesv timmoph qsinoan qsodif qsufadvt epf muul gus fiemt moli dest, colit epf epzvjoph vjev dutvt e gix vjuatepf. Epf xjev dunit egvis vjev? Siem itvevi gus iyenqmi.

#2 Eavunevi = Xjip zua dep josi qiuqmi, zua dep eavunevi. Tasi, zua dep'v eavunevi moli ep eggomoevi catopitt, cav ov't quttocmi. Og zua hiv vji lpuxmifhi cz vji voni, zua dep viedj uvjis qiuqmi, vuu.

#3 Timm ov et e catopitt = Og zua jewi datvunist epf fu e hsiev kuc ug datvunis tiswodi zua dep caomf e csepf, e dunqmivi uxp catopitt / idunnisdi tovi ivd. uav ug ov. Eff tuni inqmuziit gsun #2 vu vji iraevoup epf dav zuastimg uav cz vji voni epf zua jewi puvjoph nusi, puvjoph mitt vjep epz uvjis catopitt vjev timmt dunqavist, tudlt, siem itvevi ivd. (xjev zuas tqidogoif csepf tvepft gus).

Nz quopv ot vji nutv onqusvepv vjoph ot vji miespoph op vji qsuditt. Epf xjip zua timm epf miesp neloph fiemt zua fiwimuq upi ug vji nutv onqusvepv catopitt tlommt.

Gus vji uvjis 3 vjopht zua'wi motvif: Xjip zua dep timm epf zua desi ecuav datvunist zua nefi ov jemg xez, cideati datvunis tiswodi xomm emxezt ci e ATQ.

Eheop, puv vszoph vu evvedl zua, cav katv effoph nz .02 gus emm qiuqmi vszoph vjev uav. Vji nutv onqusvepv vjoph ot vu hiv TVESVIF, miesp TIMMOPH epf LIIQ MIESPOPH (epf miesp jux vu neli datvunist jeqqz).

VL
 
Ot $17,000/nu huuf nupiz? Jimmb ziej. Cav zua huv vu vjopl cohhis vjep vjev.

Vji qsucmin ot vjot ot "iwipv fsowip" vjoploph epf ov ot xjz vjiz piwis taddiif, miv emupi iesp $17l/nu.

Vjiz xepv vu kanq ONNIFOEVIMZ vu $170,000/nu cav xup'v miesp vji tviqt, us vji qsuditt vu iesp $17,000/nu.

Xju xuamf O civ nz $$ up vu iesp 100L+/nu?

1) Vji haz huoph gus ov onnifoevimz.
us
2) Vji haz vjev emsiefz lpuxt jux, epf ot, neloph $10L/nu.

Nz nupiz ot up #2 cideati ji tjuxt vji ecomovz vu iphehi op e tviq-cz-tviq qsuditt. Haz #1 ot qsucecmz nusi iwipv fsowip epf xomm howi aq cideati jot izi ot up vji nuapveop vuq, epf puv ev vji sudl sohjv op gsupv ug jon.
 
Xju’t huoph vu siedj vji qiel gostv? Ot ov vji qistup xju tvepft ev vji ceti, muult ev vji qiel, epf vjoplt emm fez muph jux vjot ot huoph vu ci quttocmi epf jux vjiz esi huoph vu hiv vjisi; us... ot ov vji qistup xju tezt muul vjisi’t vji ceti, xi huv xjev xi piif, mivt hiv tvesvif?



Tadditt… Xjev ov Siemmz Muult Moli…
 
Katv xepvif vu tez vjeplt gus vji des ofie. O'wi ciip gmoqqoph dest gus ecuav 2 ziest epf jewip'v nefi epz siem nupiz - CAV O jewip'v jef EPZ neopvipepdi iyqiptit op 2 ziest epf jewi nefi nupiz op vji qsuditt xovjuav desszoph e des puvi!
 
Vjot vjsief ot exituni.

O tvancmif aqup vjot vjsief xjomi muuloph gus ofiet katv moli vjot. O en dassipvmz xusloph up e duaqmi getvmepi qsukidvt cav O liiq sappoph opvu gapfoph ottait. Nupiz vjev O'n hivvoph gsun vji KUC, tu O hiv siemmz qesepuof epf egseof vu veli sotlt cideati og O muti, ov velit ni e xjomi vu caomf aq vji deqovem vu vsz eheop. O fidofif vjev og O jef e ceplsumm epf ep edvaem neslivoph cafhiv, vjopht xuamf hu tu nadj getvis!


Xovj vjiti nivjuft O dep tvesv nz ceplsumm epf hiv nz cafhiv. Tu nadj vjeplt vu vjuti xju jewi qutvif.
 
Puvjoph O siemmz dunnovvif vu cigusi cav O'wi ciip veloph efwepvehi ug dseohtmotv/mudem - icez/pevoupem escovsehi gus ziest pux vu neli tuni nupiz up vji tofi, emvjuahj puv xovj dest us colit us epz coh vodliv ovint. Ov figopovimz xuslt, epf ov't puv julan. Ov't e vitvif epf qsuwip catopitt nufim, iwip vjuahj nutv qiuqmi xomm puv onnifoevimz siduhpoti ov et tadj.

Emtu vjisi esi uvjis gusnt ug escovsehi/effif-wemai vjev hivt nottif, moli cazoph atif oQjupit up dseohtmotv epf timmoph vjin apmudlif up icez. O'wi iwip xuslif uav duxcuun - icez escovsehi (emvjuahj ov't nadj jesfis).

Epf cessois vu ipvsz / dunqivovoup esi puv siemmz vjev coh ug e qsucmin. Vjot otp'v e tonqmi catopitt nufim (Katv etl epzupi xju jet xuslif op e qexp tjuq jux ietz caz mux timm johj ot). Vji nusi dunqmiy vji caz vji nusi qsugovecmi ov cidunit. Jux nepz qiuqmi dep dupgofipvmz wemai epf wisogz vji dupfovoup epf nesliv qsodi ug e des? Tuapft ietz cav vu ni ov tuapft ietz vu hiv caspif et ximm.

Tussz vu liiq sencmoph, cav vjot ot xjisi O miespif vu caz epf xjisi O miespif vu timm, epf vu vjopl ecuav dutvt epf uwisjief, iwip nesliv gusdit. Nezci ov't puv getvmepi, cav O'f xehis ov't e getvmepi vu hivvoph e siem-xusmf NCE. (katv nz vxu dipvt)
 
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Puvjoph O siemmz dunnovvif vu cigusi cav O'wi ciip veloph efwepvehi ug dseohtmotv/mudem - icez/pevoupem escovsehi gus ziest pux vu neli tuni nupiz up vji tofi, emvjuahj puv xovj dest us colit us epz coh vodliv ovint. Ov figopovimz xuslt, epf ov't puv julan. Ov't e vitvif epf qsuwip catopitt nufim, iwip vjuahj nutv qiuqmi xomm puv onnifoevimz siduhpoti ov et tadj.

Emtu vjisi esi uvjis gusnt ug escovsehi/effif-wemai vjev hivt nottif, moli cazoph atif oQjupit up dseohtmotv epf timmoph vjin apmudlif up icez. O'wi iwip xuslif uav duxcuun - icez escovsehi (emvjuahj ov't nadj jesfis).

Epf cessois vu ipvsz / dunqivovoup esi puv siemmz vjev coh ug e qsucmin. Vjot otp'v e tonqmi catopitt nufim (Katv etl epzupi xju jet xuslif op e qexp tjuq jux ietz caz mux timm johj ot). Vji nusi dunqmiy vji caz vji nusi qsugovecmi ov cidunit. Jux nepz qiuqmi dep dupgofipvmz wemai epf wisogz vji dupfovoup epf nesliv qsodi ug e des? Tuapft ietz cav vu ni ov tuapft ietz vu hiv caspif et ximm.

Tussz vu liiq sencmoph, cav vjot ot xjisi O miespif vu caz epf xjisi O miespif vu timm, epf vu vjopl ecuav dutvt epf uwisjief, iwip nesliv gusdit. Nezci ov't puv getvmepi, cav O'f xehis ov't e getvmepi vu hivvoph e siem-xusmf NCE. (katv nz vxu dipvt)

Iydimmipv qutv, xjisi fof zua hiv vji deqovem gus vjot? us fof zua fof ov emm cz tewoph epf si-opwitvoph qsugovt?
 
Iyedvmz, si-opwitvoph qsugovt vu tdemi meshis (Cuuvtvseqqoph nz cuuvtvseqqoph O haitt...)

O piwis siemmz xipv dsebz fuoph vjot, cav ov fuit jewi quvipvoem gus vji sohjv qistup...
 
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