Chatteling To $50,000 from $100 By December 31st - Possible?

Hey guys,

As you can see by the title I came up with an idea to Chattle up from $100 to $50,000 by December 31st and wanted to get your thoughts on it. I know it seems like a big crazy goal but is it really?

At the time of this posting that's roughly 17 weeks away. Originally I thought you would have to earn roughly $431 a day to reach that goal working 5 days a week. That really would put a lot of stress on finding good deals to flip, but I think I found an easier way.

Last night I realized that if you could just double your money every 11-12 days or so you would be on the right track. That would be the awesome power of exponential growth that everyone wants to harness for their 401k's.

To break it down:

September 8-18 - $100
September 19-28 - $200
September 29 - October 8 - $400
October 9 - 18 - $800
October 19 - 28 - $1600
October 29 - November 7 - $3200
November 8 - 17 - $6400
November 18 - 27 - $12,800
November 28 - December 8 - $24,000
December 9 - 18 - $48,000
December 19 - 31 - Catch up time - $50,000


The two biggest problems I see are finding enough good deals to double your money every 11 days, and finding deals you can flip in a reasonable amount of time when you get to the higher brackets.

What are your thoughts, suggestions etc…

I already know it sounds crazy, but hell why not try? No matter what you'd be better off if you were out there making deals, right?

Thanks,

Shelby

Originally Posted by shelbyc

No matter what you'd be better off if you were out there making deals, right?
Shelby

I don't think that is one of the rules. You may be better off buying a gun with the 100 bux.

Depends on the reality you happen to believe in. Anything is possible, or at least seems to be possible.

A plan that I have seen work is to use the 100 bux as option money instead of purchase money.

Spend whatever time it takes. You're looking for a seller. Seller is offering at around $24,000, and he privately thinks that if he can get that price he will be stabbing a fat hog in the ass. His perception is that whatever he is offering is worth around half that, 10k-12k or so.

You offer him 100 bux, or why not 10? for an option to buy his deal at 24k. Meanwhile you hop across the street, or continent, and sell the deal for 5 times what your seller gets.

Percieved value is more valuable than most people's idea of true value.

There are no rules.

[GordonJ]

Yes, you came up with an idea.

IF you could double your money every 11 days, thousands of people would do it.

You can't.

That being said, feel free to prove me wrong, I'll eat crow if you do.

A realistic chatteling goal starting with 100 bux and WORKING on it consistently for the next 17 weeks would be 5,000 bux.

That could be doable.

NO one, not even Bernie Madoff can double that kind of money in a short period of time.

NOW, if you made the 5 grand by Christmas, you could begin the new year with some working capital and maybe, with some effort, by the following Christmas it could be 50,000...but that is a lot of chatteling work.

99.99% of people can't do it. YOU may be the exception.

What I've done for over 25 years is encourage people to Chattel to get enough working capital to start a business. The lessons one learns by buying and selling are good lessons of business.

Very few people chattel continuously, the exceptions open up some kind of storefront.

But Shelby, Go for it, and let us know how it works out for you, OK?

Gordon QAlexabder

Originally Posted by shelbyc

Hey guys,

As you can see by the title I came up with an idea to Chattle up from $100 to $50,000 by December 31st and wanted to get your thoughts on it. I know it seems like a big crazy goal but is it really?

At the time of this posting that's roughly 17 weeks away. Originally I thought you would have to earn roughly $431 a day to reach that goal working 5 days a week. That really would put a lot of stress on finding good deals to flip, but I think I found an easier way.

Last night I realized that if you could just double your money every 11-12 days or so you would be on the right track. That would be the awesome power of exponential growth that everyone wants to harness for their 401k's.

To break it down:

September 8-18 - $100
September 19-28 - $200
September 29 - October 8 - $400
October 9 - 18 - $800
October 19 - 28 - $1600
October 29 - November 7 - $3200
November 8 - 17 - $6400
November 18 - 27 - $12,800
November 28 - December 8 - $24,000
December 9 - 18 - $48,000
December 19 - 31 - Catch up time - $50,000


The two biggest problems I see are finding enough good deals to double your money every 11 days, and finding deals you can flip in a reasonable amount of time when you get to the higher brackets.

What are your thoughts, suggestions etc…

I already know it sounds crazy, but hell why not try? No matter what you'd be better off if you were out there making deals, right?

Thanks,

Shelby

[GordonJ]

Climb up on someone's roof.

Fall off. Call paramedics.
Go to hospital.

Several months later sue the homeowner.

Collect thousands of dollars.

Except for the collection of the dough, this is a true story. In progress.

I'll let you know how it turns out.

At least in the desert you can throw their sorry carcass back on the runway and provide a feast to the local critters.

Gordon

PS. Boz (and ALL other SowPub members) can I borrow a 100 bux until I can flip the first contract? Guarantee you a 13% return and you can roll your investment over with each deal, fair enough? he he.

Originally Posted by Bozo

I don't think that is one of the rules. You may be better off buying a gun with the 100 bux.

Depends on the reality you happen to believe in. Anything is possible, or at least seems to be possible.

A plan that I have seen work is to use the 100 bux as option money instead of purchase money.

Spend whatever time it takes. You're looking for a seller. Seller is offering at around $24,000, and he privately thinks that if he can get that price he will be stabbing a fat hog in the ass. His perception is that whatever he is offering is worth around half that, 10k-12k or so.

You offer him 100 bux, or why not 10? for an option to buy his deal at 24k. Meanwhile you hop across the street, or continent, and sell the deal for 5 times what your seller gets.

Percieved value is more valuable than most people's idea of true value.

There are no rules.

Thanks Gordon,

I know it sounds a little crazy, and it might be impossible for me to do but I think it will be fun to try.

What I think I'll do is set $5,000 as my minimum goal and $25,000 as my ideal and $50,000 as my upper target.

I'd actually be pretty happy with $5,000 extra in my pocket by Christmas, as I'm sure many people would be.

Thank you for sharing your experience in Chatteling with true reachable goals.

Bozo, I'll look for that option

Shelby:

I started chatteling in '78 if memory serves me correctly.

Doubling is a great concept but ....

There was a challenge on the forum some time ago to double...I was in on it but I think it just kind of petered out as people found that the doubling concept only works easily to a certain level. Dien would know more about the reasons it dwindled away.

It is easy to buy something for $0.50 and sell it for a $1....likewise it is relatively easy to double a $200 purchase to $400.

But in my experience that has generally been the cutoff point for actually doubling the purchase price. After that level it I have found it has basically averaged out to a max of 50% rather than the 100%. Of course there have been times where pure luck in finding an object has allowed the doubling but they have been few and far between.

I concur with Gordon on his $ projection for the 17 week period.

The biggest problem I found with the high priced items is that sometimes you have to sit on them for a while...yes pre-found buyers do back out....and in most instances (there are a few exceptions) the profit is generally 15-25% rather than doubling on the high ticket items. Those exceptions usually show up in estate purchasing where you agree to buy the whole estate and then dispose of it....in these it is not uncommon if purchased for the right price to triple or quadruple your investment.

I sent you a couple of PM's on finding things...while these won't get you to the goal you have set, these are a good basis to build up your initial cash (capital) to move into higher end chatteling as they are 100% profit.

I wish you well in your endeavor...will be interesting to see your results on the 31st of Dec..

Cornell

[Ankesh]

“Always aim for the Moon, even if you miss, you'll land among the stars.” ― W. Clement Stone.

So good on you to have big audacious goals.

As Cornell says - there was a private doubling forum at sowpub where quite a few folks participated. It was based on the doubling challenge by Stuart Goldsmith. But it petered out because folks found doubling too hard.

Don't aim for doubling on a deal. But aim for a quick turnover of deals. So that even if you manage to earn just 8-10% per deal, if you can do 7-8 of them in 10 days, you'll be ahead. So aim for quick turn over.

The best thing to look out for is either one specific product - or one specific audience. That helps with quick turn overs. Dabbling with multiple product categories or a wider audience may lead to finding deals with higher profit margins - but it takes a lot of time.

Cornell,

I appreciate your input, you're a very generous person, and I will take the advice to heart and use it.

The $200-$400 range is kind of where I figured the doubling opportunity would start getting harder.

Ankesh,

Thank you for your input as well, you are an inspiration to all. I will also plan on doing short high volume turn arounds as well.

One thing I'm thinking about modifying is my starting capital. I actually have a few things I don't use around the house that have stored value, I will be liquidating them as well to add to my coffers.

[MMacGillivray]

I'll be following your Challenge thread - good luck and well done BTW, I can almost taste that barby.

Margaret

Thanks it was a great burger! Feel free to post in the Challenge thread as well.