Hi Chris,
You don't use actual money to buy these products. You use credit, business line or a loan.
I have only once did a huge buy with actual money($10,000) and I ended up regretting it.. The fact is, 95% of those who do business use credit to buy product.
You see, you were taught all your life to use credit for things that don't make you money, such as cars, do-dads, houses, etc..
Whats funny, though, is none of those things will make you money. Further, if you buy a $12,000 car with a loan, you end up paying $18,000 for it..
Take a house mortgage, for instance. The word "mortgage" comes from the French word Mortier, which means: an engagement until death.
So, the "mort" on the front is refering to death, such as mortification, mortify, mortuary, etc.. It kind of makes sense, if you think about it..
USING CREDIT FOR BUSINESS PRODUCT:
Rather than using credit for something that doesn't make you money, it is wise to use it for something that will make you money and by this I mean at a far faster rate than your APR works..
So, if you bought $1000 worth of product at 9% APR and it took you 2 months to sell it and you double your money in the process, we are talking:
- $1000 wholesale
+ $2000 in sales
- ($1000 x 0.09 x 2/12 = $15.00)
So, you make $1000 in 2 months using credit at 9% and at the end of each month, you pay back what you sold in wholesale value.. ALL you end up spending on APR is $15 bucks!
$15 bucks for $1000 profit. How can you beat this?
NOW, if you are thinking, I can't put $1000 on credit. Ask yourself, why did you put a $12,000 car on credit or a $150,000 house on credit? Those are FAR far more than $1000. Those items make you no money, whatsoever. Matter of fact, they drain you of every ounce of money you have!
Does this help, or do you still want to try an avenue with no money invested.. Its a hard road to travel, by far, but I can help you there also..
Tony
Chris Hocquard <eagleproperties@comcast.net> wrote:
Tony,
The only problem I see with these products are that you have to buy in such bulk their would be no way I could afford to do that right now. Can you recommend a way or help me make approx. 1,000 a month to start. I know that there is more money to be made then that but I need to be realistic at first so I can get my feet wet. I’m interested in sporting goods and jerseys and electronics. Do you recommend me opening up a store or just stick to what I’m doing right now. Do you recommend partnering up with other people or fly solo? I want make sure my listings all look good as well. Do you have any tips for me on what my listing should look like and what things to make my listings look better? Thanks,
