how to make money?

[patandchickens]

There is one rule that if you learn it will make it fool proof. Know what an item sells for first. If you know that then you have no problems.

This sort of works if you are talking about items that get sold a lot (some clothing, some popular collectables, etc).

Doesn't work well or at all for one of a kinds, though, which is what many people are drawn to when they try to do this.

Also it is not 100% "foolproof" because prices can CHANGE between your buying the item and being able to sell it; because items can suffer an unexpected severe depreciation like being eaten by a dog or inconveniently dropped <crash!>; and because you need to be better at spotting fakes than the people you're selling *to* are.

I'm certainly not saying one can't do it, I'm just saying that intelligent well-educated people certainly CAN lose money trying it (especially when new to the endeavor) despite good intentions and sensible preparation.

Whereas, when you get a job (be it a one-off or Actual Job) you generally do not have to put up money upfront and DO generally get paid.

Pat

 

[Wallybear]

There is one rule that if you learn it will make it fool proof. Know what an item sells for first. If you know that then you have no problems.

This sort of works if you are talking about items that get sold a lot (some clothing, some popular collectables, etc).

Doesn't work well or at all for one of a kinds, though, which is what many people are drawn to when they try to do this.

Also it is not 100% "foolproof" because prices can CHANGE between your buying the item and being able to sell it; because items can suffer an unexpected severe depreciation like being eaten by a dog or inconveniently dropped <crash!>; and because you need to be better at spotting fakes than the people you're selling *to* are.

I'm certainly not saying one can't do it, I'm just saying that intelligent well-educated people certainly CAN lose money trying it (especially when new to the endeavor) despite good intentions and sensible preparation.

Whereas, when you get a job (be it a one-off or Actual Job) you generally do not have to put up money upfront and DO generally get paid.

Pat

You should go back and reread your last two posts. You are a pessimistic and your life seems to be ruled by fear.

I'll take the easiest of the ideas that I threw out there and explain it again but in a little more detail. Even you will not be able to discount the idea.

Scrap metal. Find a local buyer. Find out what they are paying for scrap metal. You can call in every day. Now pick up cans on the side of the road. Buy scrap metal at garage sales or flea markets or when you see piles in the back of peoples yards stop and ask if they want to get rid of it. Many times people will give it to you just to get rid of it. Now haul it in for cash.

If you know that the scrap yard is paying $1 per pound for clean #1 copper scrap, you can pay up to .30 per pound for clean #1 copper you find. You can not go wrong. If it is dirty, then pay less for it and then take the time to clean it and add value to it.

Know what it sells for, know who is buying and buy for 1/3 the value or less. YOU CAN NOT LOOSE. I do it all the time with guns, silver and miscellaneous antiques. If you do not have the information ahead of time then do not buy. If you know what the value is then you know where the market to sell it is. Can you get burned on an item. Sure, I have in the past, but it is always when you buy with out knowing your market and you speculate.

I will make one other suggestion. If you are new to this idea, then you need to understand what your operating capitol is. This is your seed money and money you need to operate. You will need to return all your original money back to the OC fund after a sale and if you expect to grow then you need to add another 10% to it. This will allow you to buy more, advertise more and travel further to increase your business. Never dip into your OC to pay yourself unless you want your operation to fail. Once you start profiting more than $450 you will need to get a business license and start paying taxes in most states. You need to look into your local laws and regulations.

 

[Wallybear]

Pat, remember that this person is having a hard time finding a job and is looking for ways to make money while they are looking for a job.

 

[patandchickens]

I've seen people take nontrivial financial hits through "fool proof" buy-and-resell schemes.

Makes me a realist and I feel responsible for posting that heads-up.

To me, the most important thing if you are in serious need of money is to not hemorrhage FURTHER money. The way I've seen a lot of people try to buy and flip stuff, it not-infrequently DOES turn into a money-loser.

I am just reporting. People really DO sometimes lose money trying this.

(Whereas drumming up odd jobs or reselling stuff you got for free has a lot less potential downside.)

Scrap metal *is* a good idea, if you have a truck. In particular, I dunno what there is in the o.p.'s area in the way of farm or 'junk' auctions but those can be a good source if you're good at picking an item up and guessing the ballpark weight. Although at least in our area the buying-metal-for-scrap-at-cheap-auctions arena has become rather competetive lately and I dunno how much they're making. There is someone locally who uses supermarket bulletinboards and the one paper that has free classified ads to advertise "scrap metal hauled away free!", that is also worth trying.

Pat

 

[Wallybear]

shaking my head at the entitlement/ no risk attitude.

As for the truck thing....

I sold a guy a chainsaw to a guy who wanted to cut firewood one winter because he did not have a job. His vehicle was a minivan that he took the seats out of.

When my Dad was in between jobs (before I was born) hauled scrap metal in the back of a 1952 Buick sedan.

I seen Mexican migrant workers fishing for steel head with a beer can and scavenged fishing line tied together and a spoon he made.

I seen a saw shop opened started on the front porch of a single wide trailer and turn into a world wide business in less than 3 years.

Where there is a will there is a way.

 

[patandchickens]

shaking my head at the entitlement/ no risk attitude.

Vivid imagination, there.

As for the truck thing....<snip> Where there is a will there is a way.

Often, eventually. However if a person does not have a vehicle or only has a tiny one, there is not always an *immediate* way for *everything*. And as far as I can tell, the question is how to make money *now*.

(I was overall *agreeing* with you that scrap-metal scavenging can be useful, for pete's sake.)

Is not the world allowed to contain some realists to counterbalance the pies in the sky? Is it really necessary to get all bristly and insulting about someone having different experiences and different opinions than your own??

Pat

 

[Wallybear]

I guess I am a little uptight about the whole discussion with you, because I have seen way too many who sit on public assistance rather then getting off of their asses and doing something. They always have an excuse.

I have tried to help dozens of people over the years, but when I hear the first excuse, I walk away from that person, because they just found a reason to fail.

This is not personal to you. I am sure that you are a great person and that we would get along fine. It is just me and my being fed up with those who want a hand out instead of a hand up. This has nothing to do with you or the original poster at all, just my grumpy ways.

 

[big brown horse]

To the op, what size of a town do you live in? Any cafes around? Bars? I waited tables forEVER. I almost went back to waiting tables at a friends bar last year when things were tight. Even though I have not waited in maybe 20 years, I know I can still do it...it is like riding a bike.

I started my own business when I was 18. (Back in the late 80's and early 90's.) I got my florist license, bought roses in bulk and sold them at night clubs and exotic dance bars. I even made my own business cards. "Sally's Flowers" lol. Lots of my college friends bought from me for their girlfriends etc. I made about $350+ per week back then working nights and a bit during the day.

I loved the exotic dancers b/c they would beg a fellow for a rose from the rose girl. The guy would buy one for them...later the girls would tuck them back into my basket to get resold.

 

[mlynd]

Very clever BBH

 

[FarmerJamie]

hi! i really need a job... i've had two interviews but i didnt get either job. so how can i earn money? gonna be having a huge yard sale this summer. but i need money now... any ideas?

Hang in there!

I clearly understand you are after a paying job.

However, if you are still having no luck if finding something, could you volunteer with a non-profit or charity org around your areea? First, it will give you something to do out of the house. Second, it would look better on your resume' to show you were out doing something while unemployed. Third, and most importantly, you never know what contacts you may make when you are out volunteering. If someone sees you working hard and doing a great job when you're not getting paid, I think they'd be more apt to consider you for a paying job.