5
   

I was bankrupt 2 years ago. Now I'm well off......again.

 
 
FenderJackson
 
  1  
Reply Sat 21 Jan, 2012 09:06 pm
@cicerone imposter,
That's the population.
0 Replies
 
FOUND SOUL
 
  1  
Reply Sun 22 Jan, 2012 04:03 am
@FenderJackson,
Quote:
I'm just a math genius.

Your Welcome.

Please ask questions if you have any.


See it's the "You're welcome" spell....I'm a shocker sometimes too, but in any event, for what? So instead of questions I am going to give you answers, cause this is so, just your opinion... There are things here you haven't even tried, things you haven't even proven right or wrong, things you are angry about, like losing which I guess is why you wanted the relationship advice, you don't like to lose. SOOOOOO

1. Or Kentucky Fried Chicken, they will add it to their menu and take you out of business.

2. There is nothing safe, everything is a risk.

3. Why? So you buy 100 and sell 2, what about marketing, getting it out there, why it is better than anything else, why you have to pay more... Or, do you go for something "Unique" that no one has, or " Funny and cheap that will sell thousands and then, where do you set up shop? Or is it better via Internet only, will that work better, ensure you do your research on the "product" or "goods"... test the market, each business is different.


4. No 80% is the top end, if the product can sell itself over and over, even 60% is good always make it look discounted, people think they have a bargin and you sell twice as much.

5. Only if they are selling what everyone else is selling otherwise it's smart as an "add-in" to draw to other products you are selling that people "want" .

6. Your stock broker is behind bars because he got greedy and broke the law.. You got greedy and played the women..

7. 100% a month is not achievable, unless you are talking about listings, ( I want 1 more a month , $6k - $8k, thanks) but then I have to advertise, or send letters or put it out there to the Universe to my referred and past clientele. I am sure others can add.

8. That's where you live.. Where I live, you buy now... It's a buyers market so you can't be so broad.

9. You got WAY burnt on the stock market huh, that's what sent you bankrupt? I mean your broker went to gaol. That's personal advise not advise to help people what are you thinking?

10. How do you know they don't work if you have never tried it? A brilliant sales person can sell Ice to an Eskimo and consequently have people eating out of their hands, selling on their behalf, in belief that they can be like them, successful... So, you are wrong.











Linkat
 
  1  
Reply Sun 22 Jan, 2012 08:59 am
@FenderJackson,
You don't know it - but you have given us much - thankfulness that most of us are not like you, thankful for what we do have, thankful ---- we are not you and you have given us much entertainment...
0 Replies
 
FenderJackson
 
  1  
Reply Mon 23 Jan, 2012 01:29 am
@FOUND SOUL,
Answer to Found Soul's answers.
1. Don't sell Chicken unless you are Don Tyson
2. Nothing is 100%, but knowledge can make it that way.
3. Time it takes is too valuable to sell in bulk. Time-Time-Time. Hit it and GO!!!! Get in Get out.
4. If the product isn't going to make 80% I walk away. Sure sometimes it creeps below 60% and sometimes it goes past 100%, but 80 would be a good average. Double that money!!!
5. I.E. Walmart. Dollar Stores=Small assed profits with a shitload of work you don't have time to do.
6. Martha Steward got screwed over on the insider trading. If you are a politician in this country, it is legal to use inside information to profit from. Just stay out of the stock market.
7. 100% is achievable. Not everytime, but very achievable.
8. I just bought a car in Amarillo, TX Who said I only shop for my deals in Phoenix?
9. No, the recession made my stocks worth half of the money. Bottom fell out of a lot of things I owned at the time. Bernie Madoff, yep I'm a victim.
10. Little profits again. Gotta think bigger.
Your Welcome. Please ask MORE questions if you have any.
hawkeye10
 
  1  
Reply Mon 23 Jan, 2012 01:41 am
@FenderJackson,
Quote:
Don't listen to Dave Ramsey. He is a financial retard and talks too much about the damned stock market that everyone got screwed on. He is a big reason I went from a 5 million net worth Zero and owing 1.7 million and had to file bankruptcy. So, if you see Dave, punch him in the nuts for me


this is so frickin funny....my brother has been going on constantly about Ramsey for years.
FenderJackson
 
  1  
Reply Mon 23 Jan, 2012 02:13 am
@hawkeye10,
Ramsey is only good on his budgeting yourself. His investment advice is outdated.
0 Replies
 
FOUND SOUL
 
  3  
Reply Mon 23 Jan, 2012 03:42 am
@FenderJackson,
Okay this is a Universal Forum.

Why then make it all about where you live? Each State, Country is different, did you think about that.

Because where I stand and I'm no way going through my 10 answers to you again why should I? That is my take in Australia.

(Edit) for anyone who saw..

Are you a Millionaire with assets or one with that much in cash....Because who cares in any event, money does not make a person.. Hard work and honesty does..

I can almost be in your league just remember that.

And yet, I am normal you are pompus.

You are welcome...Get with it.

cicerone imposter
 
  1  
Reply Mon 23 Jan, 2012 04:03 am
@FOUND SOUL,
Well said, and I agree 100%.
0 Replies
 
FenderJackson
 
  1  
Reply Mon 23 Jan, 2012 10:13 am
@FOUND SOUL,
Yes, I'm a little pompus, but in a more humorous way. I am well aware of Australia's growing economy and Government running a surplus instead of a rediculous debt that we run. When the market collapsed here, I considered moving there. Australia's government understands the basic workings of a calculator in which America is totally retarded with the idiots we have running it now. I just did my Monday balance sheets and I have 976,400 in Cash US Dollar. I also have 41,440 Cash in Pounds. I don't have any Aussie Dollars, but I wish I had invested in them years ago, because they are kicking our ass now. In assets I have close to $700,000 and I have only $340,000 invested in the products, but that is what I am flipping into cash now. One investment is a house that I bought for $110,000, I put $14,000 sprucing it up and I am waiting on it to close by Friday. It sold for $240,000. I flipped a car for $8000 profit Friday and didn't even drive it. I own a commercial strip mall that houses 8 businesses that I don't owe anything on. But I hate rentals!!! I hate dealing with tenants, but I do because it is a necessary evil. It gives me about $8000 a month after bills. I don't count it in my net worth, but if I sold it I would sell it for $450,000 to $500,000. It's my tax write off, because on paper I borrowed $900,000 in which I pay $5000 a year interest to my banker to shuffle paperwork and saves me about $50,000 a year in taxes. All legal. It's one of those loopholes Obama is trying to kill. If it passes, I'll sell the building.
FOUND SOUL
 
  1  
Reply Mon 23 Jan, 2012 02:02 pm
@FenderJackson,
Yes you are pompus.

I asked you, if it was assets or cash, or "on paper".. A simple, 50% is cash, 50% is on paper ie) would have done.

Thank you for telling me every single "cent" you own and where it all is, right down to the dollar... One word, greed. I, me,I,me,I, me I think you wrote that somewhere else?

Managing Rental Properties, is not only a good stream of income monthly, easily to the tune of the same, $8000 a month, you don't owe the banks a cent , never have to worry about the Government, therefore, selling out and it is your superannuation if you ever sold your rent roll a desireable asset and yes, you guessed it a whole lot of work, service and time involved. There is a new one for you to try, excepting that as you can't really handle tenants and don't like to work hard, rather play with monopoly as well as "hide" wealth for self gain, you probably would fail.

cicerone imposter
 
  1  
Reply Mon 23 Jan, 2012 02:56 pm
@FenderJackson,
You wrote,
Quote:
It's my tax write off, because on paper I borrowed $900,000 in which I pay $5000 a year interest to my banker to shuffle paperwork and saves me about $50,000 a year in taxes.


That's an outright lie; no bank or lending institution loans that kind of money ($900,000) at one-half of one percent interest. Especially since you admitted you filed bankruptcy.
FenderJackson
 
  0  
Reply Mon 23 Jan, 2012 07:47 pm
@cicerone imposter,
Wrong again Cicerone. Let me dumb this up for you.
On paper it looks like I borrowed $900,000 but when I put the borrowed $900,000 back into the "investment bankers" bank in their low-risk enterprise of loaning people with perfect credit money and I buy my points down with the profit and I split it with the "investment banker" At the same time it looks like I am making $4300 per month interest payments and nothing on the principal. It's basically an "on the fence of illegal" tax deduction that as long as I don't cross that line, I am good to go on saving $51,600 in taxes a year. But you can only do this with under a million or it will raise too many eyebrows. But it is legal. If I get audited again, I'm good to go
jcboy
 
  3  
Reply Mon 23 Jan, 2012 07:56 pm
@FenderJackson,
Quote:
On paper it looks like I borrowed $900,000 but when I put the borrowed $900,000 back into the "investment bankers" bank in their low-risk enterprise of loaning people with perfect credit money and I buy my points down with the profit and I split it with the "investment banker" At the same time it looks like I am making $4300 per month interest payments and nothing on the principal. It's basically an "on the fence of illegal" tax deduction that as long as I don't cross that line, I am good to go on saving $51,600 in taxes a year.


At first I only suspected you might be full of crap, now I’m quite sure of it.
0 Replies
 
FenderJackson
 
  0  
Reply Mon 23 Jan, 2012 07:58 pm
@FOUND SOUL,
Hey FS, I follow the KISS principle. "Keep it Simple Stupid" and "Work Smarter not Harder" principle. I, me, I me, I me, I me is because it is all about greed. Greed is good, somebody said in a movie, I think Wallstreet. My rentals annoy me because I have to deal with the headaches of paying city taxes, water bills, trash dumpsters, meeting codes, listening to the tenants bitch at me because I won't approve their chartreuse colored sign, Having to pick up their trash they leave outside. Picking up cigarette butts, late payments and the stupid excuses. Geez, I'm a nice guy and hate to kick people out of my building, but you just have to sometimes.
jcboy
 
  1  
Reply Mon 23 Jan, 2012 08:01 pm
@FenderJackson,
Quote:
My rentals annoy me because I have to deal with the headaches of paying city taxes, water bills, trash dumpsters, meeting codes, listening to the tenants bitch at me because I won't approve their chartreuse colored sign, Having to pick up their trash they leave outside. Picking up cigarette butts, late payments and the stupid excuses. Geez, I'm a nice guy and hate to kick people out of my building, but you just have to sometimes.


With all the money you're making why not have someone manage all those rentals for ya? Cool
FenderJackson
 
  1  
Reply Mon 23 Jan, 2012 08:06 pm
@jcboy,
Manage the rentals? But then I would have absolutely nothing to bitch about. I have to whine and complain about something when everything else is so good.
MonaLeeza
 
  3  
Reply Mon 23 Jan, 2012 08:40 pm
@FenderJackson,
Quote:
I have to whine and complain about something when everything else is so good.

I'm curious as to why you seem to feel you have to prove something to a bunch of strangers. Are you sure you're not trying to convince yourself that you've got it 'so good'? Maybe something is missing? Obviously I don't know you at all - it's just the impression I get from your posts. I've known people at both ends of the wealth scale and while it's obviously not much fun if you don't know where your next meal is coming from, generally speaking I haven't seen a great correlation between wealth and happiness.
farmerman
 
  2  
Reply Mon 23 Jan, 2012 09:53 pm
@FenderJackson,
I deal in specific antiques (arts n Crafts pottery, Rockport paintings, Pa Dutch primitive furniture and Indian artifacts )ONLY!!. Whenever someone tells me that they are good enough to deal in ANY type antique item, I look for the exit door. ANtiques have had a hard market except for very tight groups of antiques that rely on a market that is about only a few thousand people in THE WORLD.

I know a certain amount about Pa Dutch primitive furniture but Im not too comfortable with say Jacobean or William and MAry or even Federalist. I keep a daily track of what any pieces in my field are actually bringing at auction. Selling for a huge profit (meaning that the original consigner was unaware of somethings value) is actually against the law in 38 states .Say you buy a piece in a state that has a "seller beware" law and is then sold in a state with no law, you can be indicted and extradited to state A. Ive known people who sold stuff that way. (The most famous example is some dude who bought a frame and an old print. Inside the frame and behind the print was a copy of the Declaration of Independence. The Declaration sold ultimately for 8 million and was originally bought for like 15 bucks. The law made the final seller share the profits with the first consigner. This is a law and anyone in the market knows about it.
If you deal under the table then we have little to discuss because you will always be on the edge of being shady. Maine Antiques Digest is a monthly trade paper for the antiques and arts industry. Its loaded with names of guys whove been or are still serving lots of time for aspects of fraud in the antiques market.(Shilling, pooling, overappraisals, bait and switch,"buyer beware").
cicerone imposter
 
  1  
Reply Mon 23 Jan, 2012 11:16 pm
@FenderJackson,
That sounds like ring fencing and illegal. But that's to be expected from a character like you.
FenderJackson
 
  1  
Reply Tue 24 Jan, 2012 12:29 am
@farmerman,
A man after my own heart! YAY!
No, I don't claim to know everything, but I'm a quick study. If I go to an estate sale with art and antique furniture, I have my Ipad with me and research the hell out of it before the auction starts and play the stupid game of acting not interested if there is a piece I'm interested in. Or even go as far as to say out loud, "Oh, this is a fake" or "This is a Repro" It keeps the bids down. It seems the same people always show up to these things and they all HATE MY GUTS!! But It doesn't bother me. So, no, I'm not an Absolute Expert on Art and Furniture, but I know just enough to almost never overpay. Those Storage Wars shows on TV now that show idiots bidding on stuff and not knowing what is even in there. If I don't know, I don't bid. Steer clear of anything that you are not sure of. I see why you specialize in certain Art, Furniture and Artifacts. If you become an expert you can make quick decisions on the deal. I deal in mostly cash and I try to almost sell it that way. Doing what I do is a rush and you obviously feel the same way. In a way, I wish I could get more attached to some of the stuff I buy, but I don't. But I pay a low amount for the merchandise so the idea of having to pay the seller I got it from some of the profit has never come into play.
0 Replies
 
 

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