Thanks Millard,
There are chattelers (flippers, buy/sellers, etc.) who like to buy and hold out for maximum profits, my older brother was like that with cars. Before he passed away, we did several deals a year flipping autos, but he was stubborn about getting what it was worth, while I wanted (always do) a FAST profit.
I counted out the 600 dollars to my "proto", three little stacks of money, 300, 200 and 100, called them Larry, Curly and Moe (had to explain who they were, YIKES, I'm getting too old man).
I told Curly (300) get to work you stooge and make 75 bux. Larry (200) had to earn 50 and Moe had to work the hardest and also earn 50 (but 35 minimum).
I was demonstrating a mind set. Assigning them little stacks of money a "personality" and asking them questions like what is listed on Facebook Marketplace, local Craigslist, Google and eBay for 300 dollars...spend the time looking for dollars Curly, not things. Larry and Moe had the same assignment.
Most know by now that I use eBay SOLD listings as one marker of market value, it is real time what something is worth to somebody.
They all had ONE week (coming up Friday) to hit their goals, so that 600 would be 750 bux seven days later and it already is, so the stooges all met their goals sans face slapping shenanigans.
In a few weeks, at a 1,000 dollar profit, there will be temptation to take the money out of circulation and this is where many folks peter out and try something else. A 1000 buckerooos, circulated weekly, should produce a 150 to 250 profit so keep them working.
Now when Larry, Curly and Moe each have 1k to work with, my "Prote" will have a steady weekly income of around 600 or the original investment back. At that point he can assign RISK/REWARD values, and let Curly use all 1k at a time and build it up whereas Moe and Larry have to divide their 1k into 3 little stacks...maybe Groucho, Chico and Harpo who then have to do their thing.
Now a safe way to KEEP your 600 is put it in a bank and don't touch it. Maybe after a few weeks, let Larry put his 1000 into a 6mo CD, and he can't touch that. Somewhere down the line, an opportunity for a bigger flip deal is going to take place, a chance to double 4k into 8 or something like that, often with a boat, RV or collectible, like a pocket watch.
These deals happen, but one can't sit around and wait for them because the more money you have in circulation, the more opportunity surrounds you.
It is all a game. We played Monopoly when a kid, why not play a little ChattelingOPOLY today? Also, maybe Curly hits his 2k mark and gets an offer from an IM Guru to get in on a Launch, where he reveals himself as the stooge he really is, or maybe Curly uses that launch, convinces the others to get into it too and they all get rich and live happily ever after.
Anyhow, there has never been a shortage of people with stuff to sell, and plenty of people to buy. I guarantee you buying and selling or FLIPPING is far easier than pulling a rabbit out of the hat, and OH MY, those little pellets that fellow leaves in the hat, yikes.
Gordon
Quote:
Originally Posted by Millard Grubb
Gordon,
One phrase you mentioned I hadn't heard before but makes better sense than most of what I've heard lately...
"circulation beats storage"
Getting your money out, and working with it... over and over, is a sure way to long-term profits.
Seems to me a lot of folks miss this because they are looking for a big payday versus just the daily drip.... drip... drip of increase.
Your chattel report should be a MUST READ.
Thanks for your experience.
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