Posts Tagged ‘casino’

The Quick Flip

July 31, 2014

Monday July 28th, 2014 – Waukegan, IL

I’m still basking in the radiant glory of my killer business triumph yesterday, flipping the stash of toy cars I nabbed for $2 at a thrift store for a cool crisp twenty. Actually the bill was a kind of soggy and rumpled, but twenty bucks is twenty bucks. The point is I made a profit for little work.

That’s the pure essence of what every fly by night huckster has been attempting to do since the beginning of time. It has never been easy, and never will be. I just happened to luck out and I am fully aware of that fact. The universe threw me a couple of bones, and I flipped them for twenty.

I realize it’s only $20, but there are much larger implications involved. What if I had purchased an item for $200 and sold it for $2000? I would be a lot more excited than I am now – and I truly am now. It feels great to pull off a successful deal, but it also makes me wonder if I did it right.

My two main wheeler dealer mentors have traditionally been quick flippers, and both of them were able to stay in business twenty years or more. They may have varied on rare occasion, but for the most part they’d get something in and flip it right back out. If they doubled their original investment, they’d do it day and night until they couldn’t do it anymore. Then they’d do it again.

Greed is part of the human bag of tricks, and everyone thinks about how they can score a sweet financial deal that gives a ridiculous return. This is why casinos stay in business. People that won big can’t just walk away and appreciate that they won. They have to try and clean the casino out.

I must admit I did think on the way home yesterday that I could have kept those cars for a little while and tried to move them on Ebay. I only went to one dealer, and he gave me my price. What I don’t know for sure is, was my price correct? Ten times my investment is great, but did I have a stellar load that could have sold for a lot more? That would have involved a lot of extra activity.

I would have had to list what I had for sale on Ebay (which I have never done before), write up all the sales notes, take pictures and eventually mail them to each buyer. Maybe I could have put them all in one lot, or maybe I should have split them up into several. There were many options.

My initial investment was very small, so I could afford to sit on the whole bag as long as I felt like it. Knowing me that would be months or even years, and I don’t want to start stockpiling old clutter at this point in my life. I want to get rid of as much as I can, and only collect cash piles if I collect anything at all. I was able to turn my investment into a healthy return, so I’ll accept that.

I also came across some old sports cards I forgot I saved. They weren’t anything great, but they were old and worth something so I took them to a sports card shop today and got $40. I can’t put an exact price on what I had in them, but I’d rough guess $20. I bought them several years ago so I’ll count that as total profit. They were just lying around, and I turned them into in pocket cash.

Who hasn’t had the dream of starting with something tiny and turning it into a fortune? This is not the first time I’ve done deals like this, but I always end up needing the money and that ends the game before it starts. I’ve got a couple of other trinkets I can cash in, and I should be close to $100. That’s a nice round number to start, and I’ll keep watching for deals. They’re out there.

From now on, this is the only collectible I am interested in acquiring mass quantities of. Everything else is for sale.

From now on, this is the only collectible I am interested in acquiring mass quantities of.