If I gave you 5,000 quid how woudl you invest it?
- Thread starter compboyo
- Start date
Trade second hand cars.
Look for poorly advertised but tiny cars on classified ads, spend a weekend worth of valeting and general prep work if needed (MOT, Pads, discs, that sort of thing) and then stick it back on the market with a good ad and some nice pictures. Stick with popular cars so turn around time is quick.
Even if you only made a few hundred on each that's still a couple of hundred quid for not too much work, if you look past the murky legalities of being a at home trader posing as a private seller.
An alternative I'd look into renting out an industrial unit, doing my trailer test, trailer + Tow car and have a go at doing car mechanical work and car transportation on a small scale in my spare time, plus combining the above car trading to help keep afloat while getting established.
One day I'll get around to it
Look for poorly advertised but tiny cars on classified ads, spend a weekend worth of valeting and general prep work if needed (MOT, Pads, discs, that sort of thing) and then stick it back on the market with a good ad and some nice pictures. Stick with popular cars so turn around time is quick.
Even if you only made a few hundred on each that's still a couple of hundred quid for not too much work, if you look past the murky legalities of being a at home trader posing as a private seller.
An alternative I'd look into renting out an industrial unit, doing my trailer test, trailer + Tow car and have a go at doing car mechanical work and car transportation on a small scale in my spare time, plus combining the above car trading to help keep afloat while getting established.
One day I'll get around to it
Soldato
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Hookers and smack and end it all with a bang.
Soldato
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All on red in a casion 
in fact no put £4995 on the red, keep a fiver for if it doesnt come in. Then spend all night trying to win it back with the fiver lol
in fact no put £4995 on the red, keep a fiver for if it doesnt come in. Then spend all night trying to win it back with the fiver lol Trade second hand cars.
Look for poorly advertised but tiny cars on classified ads, spend a weekend worth of valeting and general prep work if needed (MOT, Pads, discs, that sort of thing) and then stick it back on the market with a good ad and some nice pictures. Stick with popular cars so turn around time is quick.
Even if you only made a few hundred on each that's still a couple of hundred quid for not too much work, if you look past the murky legalities of being a at home trader posing as a private seller.
An alternative I'd look into renting out an industrial unit, doing my trailer test, trailer + Tow car and have a go at doing car mechanical work and car transportation on a small scale in my spare time, plus combining the above car trading to help keep afloat while getting established.
One day I'll get around to it
By the time you pay MOTS etc...surely you wont get much return even if you an sell car for more than you bought it?
Ok so say you buy like corsa, micra, golfs, clio, polo, fiesta, 206 etc...popular cheap 2nd hand cars..and say you make 200 quid on each one after working on them I guess that could be lucrative...if you can sell 5 cars per 2 months? thats 500 quid per month
Is this relaistic?
also would it be a problem if I went to same garage every week or 2 with new car lol or they wouldn't care/get suspicious?
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Soldato
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- 24 Sep 2007
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- 5,761
You pay approx £7 to reg a new .co.uk domain, then you have to renew it every two years for approx £7. I would stick to generic product and service names, e.g. if you spotted the trend towards led lights first, you could have regged ledlights.co.uk first and then sold it on for a healthy profit. I can tell you that ledlights.co.uk is a valuable name, so if you had managed to reg it when free for £7, you would have made a very good investment.
Regarding my comments saying shares carry more risk ... I just mean you have to watch shares much more closely, respect the stoploss etc, and the amount of money "at risk" is much much higher when compared to £7 every two years for a .co.uk domain. £7 is less than the dealing fees on shares.
Rgds
yes 7 pounds every 2 years is really nothing. If you made 20 at 140 quid and one makes you over 1-2k then thats huge profit at little cost.
so yeh a few years back eg 3DTV.co.uk woudlve been cool.
how about this for a great idea!!!
Check into most liekly future sports stars such as footballers...Maybe they are only 14-17 (maybe older but no website) but no established big names and no website. Then create there website....eg You can use Football Manager databse and google to investigate young players with huge potential.
Say before david Beckham was famous. I could've registered davidbeckham.co.uk
So I can look at youth teams for the big clubs and potential future stars etc....
Possibly for musicians, bands and actors also?
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To be honest - no idea, the rise in precious metals has been fairly historic today, we could be seeing something big here, like the end of fiat - or maybe not. Silver could double in 6 months or maybe not, no one knows!! Get yourself educated on the subject and make a calculated decision for yourself.
I'd dare say £200 a car would be a bit low. I've looked at doing this with a much smaller initial investment (around a grand) and even at that sort of money I would have thought a £200 margin would be just about right at that sort of money. Its certainly too low to even bother with when you've got £5,000 on the table being played with.
As far as I can see, it is all about the margins. If you can't see yourself making a comfortable few hundred quid after doing what needs to be done to take it from a bottom of the barrel car to something decent then it flat out isn't worth bothering with. That's the say any work needs to be done. I'm sure there are plenty of perfectly good cars being advertised below their true value and not selling because the seller has stuck up a rubbish ad.
I'd like to think 2 cars a month would be realistic. Obviously more is possible depending on what sells when but I'd think 2 weeks on the market should be plenty of time to get rid of a keenly priced, tidy popular model of car.
The number one issue is the legalities of the whole scheme. When you do want I am suggesting you are a trader in the eyes of the law and be to provide the sort of protection that people expect from a trader, and once you bother doing that you might as well give up as It becomes more hassle than it is worth.
I meant making 200 quid profit on each car.
But I dont see it..you pay 500 quid for cheap car..you then pay MOt which could go as high as 1000 quid...then you can at best sell at 800-900 quid...The only way you'd profit is if the car needed minimal work done.
Off course its possible you could get a car with no problems undervalued...I guess if not you could just not go ahead with the MOT and sell at price close to what you purchased for for no loss but just hassle
You don't HAVE to MOT it. Its just an idea if its only got a few months left.
Neither does a MOT cost a lot of money. Its £60 at the most. The 'What if it has loads of problems' argument is defeated by actually using your brain and buying cars that aren't nails in the first place.
I certainly wouldn't waste my time with £500 cars either with £5k to play with. I'd be looking at cars in the £3-4k bracket with a hundred or two prep at the most.
Soldato
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- 24 Sep 2007
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- 5,761
The big football stars have trademarked their names, and rightly so. Sportsmen, musicians, bands ... all these are really "domain squatting", i.e. holding people to ransom. I would stick to generic business terms where anyone is entitled to hold the name.
Rgds
