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REPORT ABUSIVE REPLY
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Message Subject
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How do I make money?
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Poster Handle
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Anonymous Coward |
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Post Content
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Here's a secret to making money OP:
1. Start with a $200 initial investment.
2. Research to see what things you can buy for that at a discounted rate (find motivated sellers) that you can resell easily at a higher price.
3. Purchase said item, then turn around and resell that same item at 10% markup.
4. Take the proceeds and go back to step 1.
5. Repeat this process 90 times.
Do this every week for 90 weeks straight. Congratulations, your now a millionaire.
Quoting: Anonymous Coward 14093935 Haha, you know what - that's the most common sense thing that I'd never have thought of! I suppose the only thing is that the market for the goods gets smaller and smaller as it increases in value.. unless you just repeat higher volumes of the cheaper goods.. but not so much you saturate the market.. in which case... diversify! I've got £1000 in my 'get something new set up' fund, so I may well look at that :) The hard part is the research and knowing what the high end and low end market value of any said item is. The second hard part is finding the right seller and buyer. It can be risky because if you get it wrong, all your capital will be wrapped up in one item that you can't liquidate, and then you either become a motivated seller yourself and take a step backwards, or you have to wait longer than you wanted to move the item. Or worse, you get stuck with it altogether. The key is research. Know your markets!
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