Investing 50K...

[kcshaner]

Originally Posted by TAILWAG

If it were that easy, everyone would be doing it. NO, it doesn't always sell higher, but it always sells. You have to agree on a price.

1. You have open POs tu fullfill (mainly from the Omar, Qatar, Kuwait and all over the ME, China and Asia = all of the rich people there want GOLD - not silver, not real estate, pure GOLD plain and simple) at an agreed rate (usually, closing rate of the day, not opening).

2. You find sellers that want to move their gold. Anything from a couple of ounces to several kilos. You find someone that can round all of these people together.

3. You agree to pay them based on what the closing rate will be, but you take possession of it early in the am, thus guaranteeing them the transaction. For all of this, you charge anywhere from a 1-1.5% commission.

4. At the end of the day, you sell whatever you were able to source (a lot more involved that it sounds as you have to go through a refinery and a certification agency to evaluate and confirm purity of the metal).

5. You fullfill the purchase orders, get paid and make a profit. Profit is directly related to how many POs you are able to fill. It is a matter of volume.

So it doesn't matter if you are buying gold at $ 900 or $ 1900 an ounce...you are making 1-1.5% of 900 or 1900. If gold sells at a higher rate you will make a little more - if it tanks all the way below 900, you are still making 1-1.5% of that...but you are NOT ever losing money.

You have to obviously have the right connections and know all the regulations in each of the countries you are doing this in. For this people charge a fee/commission as well, but there is enough profit to go around. For anyone that puts in 10,000 - 100,000, I will pay 24% apr, it is that simply.

Everything is done based on 6 month contracts. After 6 months you get your principal back. If you want to do it again, then you do another 6 month contract. That way you don't have your capital sitting there for too long.

This is a capital gain, which is basically income, so you are responsible for claiming your profit and paying the respective taxes on it.

It is actually pretty fun watching money grow...

Sign me up!

[Roman]

I am reviving this thread. I now have 3 rentals with about 200K invested bringing in about 1.5K a month. How has Lending Club worked out for you guys thus far? I heard it's not what it used to be with borrowers abusing/defaulting more now?

[mild83]

Originally Posted by Roman

I am reviving this thread. I now have 3 rentals with about 200K invested bringing in about 1.5K a month. How has Lending Club worked out for you guys thus far? I heard it's not what it used to be with borrowers abusing/defaulting more now?

That's awesome.

Did the $50k facilitate all of the rentals, or did it wind up costing more (purchase, reno, etc)?

Lending Club sounded great, but just ripe for abuse.

[BuddyLee]

Originally Posted by Roman

I am reviving this thread. I now have 3 rentals with about 200K invested bringing in about 1.5K a month. How has Lending Club worked out for you guys thus far? I heard it's not what it used to be with borrowers abusing/defaulting more now?

1.5k each or total?

[Roman]

Originally Posted by mild83

That's awesome.

Did the $50k facilitate all of the rentals, or did it wind up costing more (purchase, reno, etc)?

Lending Club sounded great, but just ripe for abuse.

I wish it all came from the 50K. I mean actual 200K invested.

[Roman]

Originally Posted by BuddyLee

1.5k each or total?

Total. 9% isn't the shit, but more secure than stock market in my opinion.

[mild83]

Originally Posted by Roman

I wish it all came from the 50K. I mean actual 200K invested.

Can you write up a summary of how it broke down?

I’m always interested I seeing the intricacies of the deals and how investors wind up