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Now, before I tell you what I suggest you do, you
should know I am clinically sane and of sound mind. It may seem
counter-intuitive to suggest this to you, but its sound advice.
Go shopping.
Yes I know it doesn't make sense yet so keep reading.
At the level you are at (in a negative money
situation) don't expect to make your first million doing just this,
but the principle is sound and can definitely lead on to a career as
an opportunity investor.
You will make three transactions today.
But first you will sit down with a pen and paper
and write down your interests and competencies. For example, you
have always enjoyed antiques. Fine, lets start with that.
In fact, if antiques are a core competency of
yours, then you should stick with that until you get to higher
levels. (You wont be buying any real estate any time soon, unless
you research "no money down techniques" but you can definitely rely
on this whenever you are in a squeeze for some money quick)
First you are going to consider supply and
demand. Two important and divergent forces in which you will play
the main lead. You will be the initiator, the middle man. (My
favourite place of all to be)
From the supply side, you are going to identify 3
places where antiques may possibly be sold cheap, or at least below
wholesale. Do such places of supply exist? You bet. Have you ever
heard of a "Don't wanner" (in plain English that's don't-want-her)
item? Often they are considered junk by the owners of these yet to
be discovered treasures.
Garage sales, deceased estates advertised in the
local journal and classified ads are just three sources off the top
of my head. I'm sure you could find another 10 if you tried.
But even before you go shopping you are going to
haunt the local antique shops in your area. The reason why you will
spend so much time at all of them is because you are going to say
hi, introduce yourself and possibly mention that you may have some
items for them. (Don't worry, they will always tell you no, we don't
need any we are already overstocked as it is) its what they do. They
set the tone in the negotiation 3 moves ahead. When the item is
before them and they can see it, they will deal.
You are also going to spend time gauging prices,
retail prices. Know that you will have to find your items at around
30% below these prices, then another margin for your profits.
There is good money to be made trading unwanted
items and converting them into cash.
Even at the level we deal in, "don't wanner"
houses, boats, luxury cars and even precious stones, the dollar
amounts (and there fore the profits) are a lot higher. But the
compounding is amazing. If only these fellows playing the stock
market knew about the percentage returns available being an
opportunity investor.
My Very Best to you
Martin enjoys sharing wealth strategies and is a
professional investor and CEO of
http://www.opportunity-investor.com
If you would enjoy learning how to build your own money
machine, follow the link above.
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