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Old July 3, 2015, 03:11 PM
Dien Rice Dien Rice is offline
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Join Date: Aug 2006
Posts: 3,368
Default Finding and profiting from "stored value"...

Apart from "toll positions," another lesson Harvey talks about is that of finding "stored value"... That can be a quick way to make money...

Gordon's approach to buying and selling personal property, or "chattel," is an example of this. Personal property has "stored value" - often value that either people don't see, or don't care about. That means you can often buy it below its market "value" - and resell it at a profit. Pawn stores do this all the time...

Harvey himself made money from "stored value" when he was a college student. He paid his way through college by buying and fixing up, then selling, second-hand typewriters. He placed an ad, saying he wanted to buy used typewriters, no matter what the condition. He'd fix them up and sell them, while those he couldn't fix, he could use for spare parts. He'd make many multiples of the money he spent each time...

In fact, it was while discovering that it was hard to oil those hard-to-get-at parts of the typewriter that inspired him to invent his "zoom spout oiler."

By the way, you can also combine knowhow regarding "stored value" with knowhow on "toll positions"... That's an extremely powerful approach to take...

Best wishes,

Dien
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