I need to make a lot of money fast

It's not so much the comment. My son is 14. It turns out that it was purely the context of what was being said. My son and I both understand it now and we hope for no further references. I'm just as hip as everyone else here and hope that I can keep things in perspective. Sorry if I upset anyone.

 

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Well said now let's get back to the subject. Here's a refresher the way I see it.

Mrbrklyn needs to become a gazillionaire overnight. Naturally, one would consult other gazillionaires like ourselves.

Early in the thread there was reference to putting a downpayment on a condo. Shortly after that there was the "I have to feed the kids" angle.

Now, I don't claim to ever really be in a "right state of mind" (just ask my wife) but anyone that is should conclude that children SHOULD NOT EAT CONDOS.
This in mind I think we need to make that 1000% gain at least 1500% for the sake of the children.

Put your thinking caps on folks. We can do it!

 

i agree.

move somewhere where things arent so expensive.

 

If I wanted to try and turn 1 grand into 10 in a years time, I would invest in undergraded and unnatributed coins. I would then proceed to get them in the right piece of plastic and sell them.

 

Sell the kids .... should bring in around $10,000 .. and will also cut your expenses.

 

Make a list of local bank addresses, get a ski mask and . . .

 

1. You open a bank account with $100 somewhere, just so they have to let you get coins.

2. You come in and buy all halfs with the other $900.
This gives you 1800 halfs, which you should find about 10 that are 1964 or earlier and about 47 clads (1965-1970). The value on those 57 would be about (10*4) + (47*1)=$87 premium over face value. this assumes the 1964 and before are worth $4.50 and the clads are worth $1.50 which is about right. So $87 gain on a $900 investment represents about 9.66 % gain. So lets call it 9% gain to have some wiggle room. Now the rule of 72 says your money will double every 8 times you do this ( 72/9 =8). You need to double your money ~ 3.5 times. ( 900, 1800,3600,7200,10000). This means that you have to do this only 28 times, gaining 9% each time to get there ( 3.5*8=28). But it will get harder each time, because each time you have more money and you have to buy all halfs with it. Well 28 times in 6 weeks is only 1 time per day less 2 days considering 5 days per week. You spend the morning selling back the halfs that have no premium, and the afternoon buying new rolls. Use all different branches of your bank. They will hate you in the end, but it can be done.

 

That is assuming 1 90% coin in every 180 and 1 clad in every 39. I think its reasonable. Also, maybe you get a franklin once or twice which is worth maybe $10.

Well, your day is like this

8 AM - Deposit Rolled halfs at bank 2.
9 AM - Withdraw in cash the money from the rolled halfs from bank 2.
930 AM- 1130 AM - 2 hours to hit all the branches of Bank 1 and use all money to buy rolled halfs.
12 PM - Lunch at McDonalds
1230 PM - 300 PM Check your coins.
300 PM - 430 PM Sell at local shop that gives you a good price all the halfs that have any value over face.
5PM- Free Time
530PM-700PM - Roll the monutains of halfs that werent any good for return in the morning.
730PM - Dinner at Taco Bell
800PM-1000PM Question whether this is really worth it.
1030PM - Go to Bed.

Tommorow Repeat

 

I think kidneys are going for about 10,000 each. You only need one.

 

I edited my original drug comment out, but it was merely intended as a joke, the point of which was that that kind of quick profit was more possible illegally than through coins. Sorry. Anyway, back to topic; I don't see this scheme working out for ya Ruben.

 

In case I've never said it before, YOU FRICKIN' ROCK !
That definatly made me LOL.



BTW.... If I were going to turn $1000 into $10000 in six weeks, it would mainly be with automobiles.
My father builds street rods and I have access to many materials, parts, tools, lift, and ect.
Also, he has many cars that have been started on that need finished.
I think if I didn't have to work 40 hours/week, I could turn out at least 2 cars worth 10k in 6 weeks.
The trouble would be getting one of them for the initial 1k.

 

:thumb:

I think this is one of the most thought out and detailed posts I have ever seen in this forum, and is only surpassed by select and gray m arket area posts in another forum.....(censored due to teh nature of those posts)

 

Recommend you contact a coin dealer. Don't inflate the price to the new coin collector like me, or other new coin collector.

 

We're all thinking about this way too hard, and I think it's a trick question, since he never says what form the $1,000 is in that is to be invested. I'm going to assume (and why not?!) that it's in 1,000 silver american eagles, 1 troy ounce silver, 1 dollar face value, which you can easily sell for at least $10 each. Voila, problem solved!

P.S. Not to be a stickler, but since he's starting with $1,000, he only needs to make $9,000 to get to $10,000, i.e. only (!) 900% profit, not 1000% profit.

 

Good point but I don't think it's a trick question. I think it's a ridiculous question.

 

Ruben,

I am going to advise something that you might try and if you can work it out, you will not need to turn a $1,000 investment into $10,000 to put down on the Condo. I would advise trying creative financing! In that, I mean that if realestate sales have slowed in your area like it has in many other areas, then you can make a lower offer on a Condo and use the equiity based on the appraisal plus your $1,000 or so, to purchase the property. There are a lot of financing agencies out there, that will work in the amount you need into the financing of the property, if you are purchasing it far enough below the actual value. This might be a much easier method to obtain the property, then to rack your brain trying to turn $1,000 into $10,000 and possibly suffering a loss instead of a gain.


Good luck...Frank

 

I have to agree with clembo on this one.

 

I don't know how to make $1000 into $10000 in just 6 weeks. But I'm pretty sure I can make $10000 into $1000 in 6 weeks.

 

Been there and done that so many times that I can't count them!


Frank

 

Couldn't be THAT ridiculous... there have been 7 pages of discussion on it!!!

Heck, I have posted thoughtful, poignant commentary and not received more than 5 or 6 views...

maybe I should be more ridiculous, it definately gets more response!