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I have a little cash to invest but I'm short on free time... In the past I've had success 'flipping cars' by means of buying undervalued, undermarketed, or easy fix vehicles and re-selling them on Craigslist. It was fun and lucrative, but also time consuming. You have to be available to leave at a moments notice to go check out a vehicle the moment it goes up on Craigslist and have the flexibility to show the vehicle at random times. It was technically highly risky, but I was fortunate to only lose money on 1 or 2 out of the 20-30 cars I've flipped, and really I about broke even or lost only a few hundred even then. I've also played around with 'sports investing' (gambling) but I can't seem to get ahead on a consistent basis. I'm willing to engage in something as risky as gambling but was hoping for something a little more... Consistently repeatable? Gambling at the end of the day is just coin flip luck. My situation now is that I've got a great high paying job, but it requires a good 55-70 hours a week and a laser focus to stay on top of. I'm making good progress on paying down other debt and all but at this point I'm wanting something super aggressive but something that I can either do that requires less free time, or at least more directed free time so I can set aside a single day off to devote to it. The peer to peer lending thread made that avenue sound interesting but I'm afraid the returns just aren't aggressive enough. I'm used to being able to risk 2-5 grand, and make %750-$1500 a pop. In short, I'm looking for options for some investment/money-making vehicle - short term and high yield.
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Jul 7, 2014 04:59
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| # ? Apr 26, 2024 22:57 |
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The lottery
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Jul 7, 2014 13:40
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Don't think I've ever seen a High Yield Investment scheme that wasn't a scam/Ponzi.
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Jul 7, 2014 14:40
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How much bankroll do you have available? I hear drug running is highly profitable and would fit in your risk tolerance level.
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Jul 7, 2014 14:40
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Sounds like Poker is right up your alley.
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Jul 7, 2014 15:28
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If something like this existed without substantial risk everyone would be doing it. Either you have to literally gamble or do something with high risk (i.e., illegal).
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Jul 7, 2014 15:54
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Not a Children posted:If something like this existed without substantial risk everyone would be doing it. Either you have to literally gamble or do something with high risk (i.e., illegal). Well gambling is basically high-risk high-yield when you think about it. It even has better results over time than day trading!
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Jul 7, 2014 15:58
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Hello OP. You can trade High Yield Credit Default Swaps.
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Jul 7, 2014 17:07
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Bennie babies is literally the only answer.
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Jul 8, 2014 01:24
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Not a Children posted:If something like this existed without substantial risk everyone would be doing it. Either you have to literally gamble or do something with high risk (i.e., illegal). I'm OK with substantial risk, I would just rather it be something that wasn't a pure luck based gamble. I'm looking for something along the lines of a controlled project like a car or house rehab project. I don't have quite enough cash yet to get a property rehab flip project going and I don't have the time to hunt for car deals... Nocheez posted:Sounds like Poker is right up your alley. Well, it might be if I wasn't completely terrible, lol... I've not devoted a huge amount of time or energy to really get good, but as it stands I'm pretty awful. tbp posted:Hello OP. You can trade High Yield Credit Default Swaps. That sounds interesting, how does a novice get involved in something that sophisticated?
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Jul 8, 2014 04:55
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Krono99 posted:I'm OK with substantial risk, I would just rather it be something that wasn't a pure luck based gamble. Any hands-off investment is in some sense a "pure luck based gamble." Your posts read like a gambling addict searching for a can't-fail system, and just like that gambling addict, you're going to lose your shirt if you keep going. You could turn $5k into $6.5k flipping cars because of your own time and work, and likely some unaccounted-for costs (did you remember to pay income tax on your profits, and pay sales tax on the title transfers? Did you keep all your dealer licensing up to date?). Now, you want the same returns with little or no effort on your part, and with somebody else assuming all the risk for any potential unaccounted-for costs. It's simply not going to happen without casino-game levels of risk on your part (which is to say, an outright negative expected value). If you couldn't tell: the poker suggestion is a joke, and you'd have better luck putting money on the ponies than with credit default swaps (at least you can tell when a racehorse is physically unable to stand upright). If you actually start playing poker you'll be the biggest drat fish in the ocean. Your best bet is to put most of those baller-rear end big paychecks toward your debt and "responsible" investments like index funds. Set aside a bit every month, take it to the casino, put it on your favorite color, and let it ride until you get the "return" you want (and leave the credit/debit cards at home). You'll do about as well on the blow money, but at least most of it will go to something that is actually sustainable in the long run. Space Gopher fucked around with this message at 12:35 on Jul 8, 2014 |
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Jul 8, 2014 06:28
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It sounds like you're pretty good at flipping cars, you know the biz and you have the necessary skills to keep your profits as high as possible. Honestly you need to stick with that because, and I'll tell you from personal experience, once you start looking around for diversification in areas that require "less effort for equal returns" you're in shady territory. The water gets murky and it's full of sharks waiting for people just like you, and they will ruin your rear end. Even if you do try to diversify with another business model consider how much time, energy, and resources it will cost you to become proficient enough to actually make money doing it. You'll flounder around wasting a couple hundred on books for that, a few classes for this, pay someone who's a guru at X to teach you their ways...it's never that easy bro. And that's a good thing because if it were easy to make money then everyone would do it and there'd be no room for industrious people like yourself to get ahead. My advice if you're serious about making more money: Rule #1) Never trust anyone with your money. No one has your best interest at heart, and only you can take care of your finances. Even if you have a financial advisor grill the gently caress out of him to make sure he isn't a shady garbageman. Or pay him enough that he doesn't need to steal from you but that's on another level. 2) Stick with what you know, what is profitable, and figure out how to scale it. Maybe you need to hire someone else to do the bitch work for you while you go out and scout new leads, or you do the bitch work while they scout new leads. Maybe one day you'll be a legit small business owner who gets his own custom car TV show on CMT with licensing deals and lunchboxes with your face on em. You found something that works, figure out how to do it better, don't go chasing other easier returns because you will get raped.
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Jul 8, 2014 12:29
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Hi, I work in Credit Derivatives Operations at an investment bank so I am happy to answer all your questions about High Yield Credit Default Swaps. In industry-speak we just call them "HYMEN" because from a cash flow/risk modeling standpoint we still use Monte Carlo simulations just like High Yield Multi Equity Notes.
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Jul 8, 2014 13:13
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Krono99 posted:That sounds interesting, how does a novice get involved in something that sophisticated? You don't haha
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Jul 8, 2014 15:14
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Have you considered making payday loans? There might even be a market for getting people off the payday loan cycle of never ending borrowing.
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Jul 8, 2014 18:26
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I'm in contact with a Nigerian prince who has a very interesting proposition for you
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Jul 9, 2014 17:32
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High reward = high risk, specialized knowledge / experience required, or downright scam. You already have number 2, so stick with that. I can tell you from experience that the more you start to chase that elusive higher return, the more you'll see your money slip away from you to the dodgy guys who know exactly how to never get caught, and at the same time extract you for as much as possible.
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Jul 11, 2014 15:24
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| # ? Apr 26, 2024 22:57 |
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https://www.youtube.com/watch?v=8QuSuKcrAeU
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Jul 11, 2014 16:16
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