Posts Tagged ‘investment’

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.

Ten Cent Triumph!

November 9, 2012

Thursday November 8th, 2012 – Fox Lake, IL

   One of a precious collection of useful things my grandpa told me that still sticks with me today is the difference between good luck and bad luck is good luck isn’t funny. When someone else is mired in a losing streak, those who see it laugh out of sheer tension relief. The only one laughing during a streak of good luck is the one experiencing it. Everyone else is feeling jealous or angry.

I’d much rather be the only one laughing, and today I got my chance. Actually, I have been in a tremendously upbeat mindset of late, and I can’t say it’s bothering me in the least. I’m enjoying a brief respite from being life’s dart board, and quite frankly if I never go back to the other side I’ll be more than fine with it. ‘Mr. Lucky’ is a character that lives onstage, and he needs to say there.

Dobie Maxwell is an entirely separate entity. He’ll take all the breaks he can get – funny or not. Today I caught a nice one, and it piggybacked on a couple of others I’ve had recently. I’d like to gratefully acknowledge them all, and vehemently ask the universe to keep sending them my way.

A couple of weeks ago, I happened to find a $10 bill crunched up on the ground and stuck it in my wallet to decide what to do with it later. A few days after that, I was walking through one of my favorite thrift stores and happened upon a collection of Apollo 12 collectible drinking glasses dated November 19, 1969. There were five of them on the shelf, and they were priced at $1 each.

I bought all five, thinking if nothing else they’d make fun gifts on The Mothership Connection at some point for either guests or listeners. I paid for them with the $10 bill I found, and in return I received a receipt with a red star on it and was told those are lucky winners of a $5 store credit.

Technically, the glasses were free and I still had the $10 I started with. I decided to keep going and see what else I could buy for ten bucks and hopefully spin it for more. I would have to scour the thrift stores, but I do that anyway. It’s a relaxing pastime I’ve always done. I enjoy the hunt.

It’s kind of like my own personal ‘Storage Wars’ or ‘Pawn Stars’ adventure. I’m trying to find something someone else didn’t know the value of when they priced it, and neither did those who looked at it on the shelf before I got there. Chances are low that it happens, but once in a while it absolutely does. It’s all about being in the right place at the right time, and having street smarts.

Today I drove by the same thrift store and was kind of in a hurry but that little voice inside told me to take a quick lap. I almost blew it off, but decided against it as I felt it strongly urging me to do it immediately. Positive things usually happen when I listen to that voice, and they did today.

I walked past a shelf of knick knacks and saw two official National League baseballs in plastic cube holders screaming at me to buy them. One was priced at $2.12 and the other $2.62. I looked closer and saw that one was autographed by Hall of Famer Ernie Banks and the other by some of the 1989 Cubs including Mark Grace, Jerome Walton, Mike Bielecki and Rick Wrona. I couldn’t believe they were priced so low, and I took them right to the checkout and the total was $5.10 for both balls. I gave them my winning receipt and my total was .10! I floated to my car in ecstasy.

So let’s review. I started with ten bucks I found on the ground and bought five collector glasses for $5. With tax, it was around $5.40. I won $5 in store credit, and used that to buy two baseballs in plastic holders – both autographed. The total was $5.10, so my out of pocket cost was a dime.

There’s no way to authenticate the signatures, but I’d bet they are legit. They’re official league balls, and I’ve seen autographed stuff before. These should have no problem selling to somebody in the Chicago area who loves the Cubs, and I can hold out for my price since I have little into it.

All totaled that would mean I’d have five collector glasses, two autographed baseballs plus my left over total of roughly $4.50. That’s a pretty good start, and I think I’ll be able to sell all of it for a healthy profit without gouging anyone and keep the ball rolling. I know how to find stuff.

Selling it has been an issue, and it may continue to be. Where would I sell collector glasses or baseballs? The first thought would be Ebay, but I’ve never sold anything on it before. I bought a ton of stuff over the years, but never sold even one thing. But how hard can it be? I can handle it, but I’m not sure if I want to. I have enough going on without starting some new time demander.

Still, the lure of the treasure hunt is strong. Who doesn’t love looking for the big payoff? I sure do, and I freely admit it. I know every deal isn’t going to be a winner, but I’ve heard tales of big scores through the years and I do believe things like that happen. To win, one has to participate.

I did take a quick lap through Ebay and saw that the glasses weren’t all that rare, and weren’t at all priced consistently. I saw them listed for anywhere from $2 to $20 each, but shipping was the big expense. I’d be thrilled if someone gave me $20 for four of them, and I’d keep one to give to my Mothership Connection co-host Greg DeGuire. He’d enjoy it, and it would be a fun souvenir.

The baseballs should realistically bring somewhere around $100 for both, or at least that’s what I’d look to get out of them. They’re in great shape, and Ernie Banks is a Hall of Famer without a doubt. I know he signed a lot of stuff in his life, but some Cubs fan would love to have that ball.

Say I can manage to score my asking price somehow from someone and walk away with $120 for everything. Couple that with the roughly five bucks I have left from my original $10 and call it an even $125. That’s well over ten times my original stake, and it literally came from nowhere.

I don’t think it’s realistic to expect to keep pulling off ten times my investment on a consistent basis, but doubling my money doesn’t seem out of line in the least. What could I invest $125 into that will bring me at least double in return? The possibilities are endless, and I’d love to give it a shot. I’d get it in cash in smaller bills and have them available to make a buy everywhere I went.

Eventually, $125 becomes $250 becomes $500. Then $1000, then $2000 and on and on. It may take a while, and I’m sure I’ll blow it on occasion and make some less than stellar buys, but on a long term basis I like my chances to be able to build a significant wad of cash I can use to keep a constant flow of more items and cash coming in. It’s been done before, but not by me. I’d love to take it all the way from $10 to enough to walk in and pay cash for a new car. It will be fun to try.