uchiha101

Hmm I'm thinking of a TOS 39 coverless because I think I just scouted another deal. Coverless books are some of the MOST DIFFICULT to flip. There is a very small number of people that would have any interest in a coverless book. How long did it take you to sell your Action 15? Please take the $700 and put it in your bank account. Now DO THIS ^^^ Until you get 3 months of living expenses saved up in a bank account, you should not be "investing" this kind of money in rolling "hot deals". You need to build up your savings cushion FIRST. Once you got 3 months of living expenses saved - THEN you can start playing/investing in comics (but still, I would advise against doing big deals period.) +1,000,000 Gabe, you got a good deal...Use that good fortune to help yourself and stick at least $500 of that $700 into some kind of savings. Maybe use the little extra to invest in yourself (something you actually need). You only work 20-25 hours per week at a minimum wage job. You live with your parents still (do you pay for your own groceries, or any other household expenses?). If you lost your job and/or your parents wanted you out, could you support yourself? If the answer is no, then 100% put the $$$ into savings and use it as a nice start to building some financial security for yourself. As for the credit card, you keep talking about building credit, well there is such a thing as "bad credit" too. If you are hell bent on getting a credit card, get a low interest one with no annual fees. Get something basic and if you are approved for a $2 grand, make your limit $1 grand or hell, even $500. IF building credit is all you really want it for but I suspect that is just a bit of a smoke screen. ...Coverless copy of TOS #39...I don't know how "good" of a deal it is, but selling a cover less copy of that likely won't be a quick flip. I would be able to support myself for three months and I pay for room and board. I do know about bad credit which is why I'll be careful with it. For the coverless TOS 39 deal I don't know the price either but if it's not what I want to pay I won't buy it. the visa has no annual fees which is a big reason why I chose it.

Hmm I'm thinking of a TOS 39 coverless because I think I just scouted another deal. Coverless books are some of the MOST DIFFICULT to flip. There is a very small number of people that would have any interest in a coverless book. How long did it take you to sell your Action 15? Please take the $700 and put it in your bank account. Now DO THIS ^^^ Until you get 3 months of living expenses saved up in a bank account, you should not be "investing" this kind of money in rolling "hot deals". You need to build up your savings cushion FIRST. Once you got 3 months of living expenses saved - THEN you can start playing/investing in comics (but still, I would advise against doing big deals period.) I do have at least three months living expenses saved up.

The copies that I've asked about people want too much for them but my TOS 39 copy sold within a month.

Hmm I'm thinking of a TOS 39 coverless because I think I just scouted another deal. Coverless books are some of the MOST DIFFICULT to flip. There is a very small number of people that would have any interest in a coverless book. How long did it take you to sell your Action 15? Please take the $700 and put it in your bank account. I believe it took me about a year to sell my copy because it was incomplete.

Hmm I'm thinking of a TOS 39 coverless because I think I just scouted another deal. Coverless books are some of the MOST DIFFICULT to flip. There is a very small number of people that would have any interest in a coverless book. How long did it take you to sell your Action 15? Please take the $700 and put it in your bank account. OP is not interested in advice, he is going to do what he wants. I doubt he'll post failures... Failures? I've posted all of them here like I said before I have nothing to hide.

If you've applied for this, purely to get deals on comics (how stupid of me .. of course that's why) .. what happens when you go over the credit limit? If you go crazy .. expect a knock on the door from people who will want to claim that money back. Your prized, high-item books .. $5 each .. that's probably what value they'll put on each one to get their money back .. a comic book is a comic book to anyone who doesn't know the different values, right? Your stock AND personal comics will be WIPED OUT! Let's face it, you've made less money on comics than you've laid-out. You have a minimal wage job to support your lifestyle .. adding a card to the mix is potentially (no real potentially about it) dangerous and irresponsible if you have issues with money and not budgeting etc .. this is not a good move for you. Agree times infinity. This is trouble waiting to happen. What is the interest rate on the card you were approved for? 19.99% To echo a previous comment, cut it up! At 20% interest, your monthly payments aren't even likely to bite into the principle. Why would I waste my time with monthly payments? At that rate I would be in debt for sure that's why I said I go for quicker flips and pay off what I buy before the 30 day grace period ends. OK, and what happens when you buy a book on the credit card and then can't find someone to buy at a profit within 30 days? If that were the case I would make sure it's a comic that I'd be able to pay off quickly before the interest rates come into effect. If you could come up with the money to pay off the book in 30 days without selling it, why not just save for 30 days and buy the book with cash. No need for a credit card at all. Honestly depends what that comic is and I'm trying to build up credit as well since I'm being hounded for it. It is the credit card company's job to sell you a credit card. So because they are bothering you to get one, you got one? If I email you a bunch of times to buy something from me does that mean you will do it? Cut up the card and close the account NOW!!! You are acting like the card is a business card for comics. You don't have a comic business. You should not be buying anything on credit that you don't already have the funds for! Stick with cash and you will avoid problems. You and a credit card at this time in your life are a recipe for disaster! Work hard and save your money! I know that it's their job to sell me what they have but this is possibly something that will work out for the better and I need to build my credit anyhow. I also mentioned when I buy something I'll have money within 30 days just in case to pay it off the reason why I'd use it because it would be faster.

Accounting classes Chinese Lessons why Chinese lessons?

Hmm I'm thinking of a TOS 39 coverless because I think I just scouted another deal.

Yes Without getting too personal, do your parent get involved with what you are attempting to do here for money? I don't understand are you asking me if their taking my money for some of the deals I work on? No. Are they aware of the risks you are taking, and how you will most likely get yourself into deep debt with little to no way out based on your current work load. Yeah they do and they don't care since I'm over 18 and as long as they get paid. They don't care what happens, as long as they first get their slice of the pie? Is this really what you meant to post? That would be what I meant to post yes.

Yes Without getting too personal, do your parent get involved with what you are attempting to do here for money? I don't understand are you asking me if their taking my money for some of the deals I work on? No. Are they aware of the risks you are taking, and how you will most likely get yourself into deep debt with little to no way out based on your current work load. Yeah they do and they don't care since I'm over 18 and as long as they get paid.

Yes Without getting too personal, do your parent get involved with what you are attempting to do here for money? I don't understand are you asking me if their taking my money for some of the deals I work on?

Thanks I'm a huge WIP and I'm learning.

when his friend decided to "buy out" uchiha's 42% stake in the book (based on the 500/700 purchase price split) for $1250 (paying uchiha's $500 stake, plus giving him an extra $750??!) his friend ended up investing $1950 to own a book worth $1900 (or so), but owned it outright, as opposed to investing just $700 to own 58% of a book immediately worth more than they bought it for. I need to find friends like that. Yes that's how the deal worked out for future reference, you should work on your skills to describe this kind of deal. If you want people to take you seriously, you need to be succinct and clear. the fact that so many experienced comic people could not understand what is going on should cause you concern. Should have been this: Original deal: My buddy and I went in together on a $1200 book, with him putting in $700 and me putting in $500. Its worth around $1900-$2000 and we expect it to go up even more. We will sell it and split the profits. New Deal: Buddy changed his mind, decided he wanted to own the book outright, so he put up the $1200 for the book AND paid me a $750 finders fee. Which is way better for me, didn't have to front any money and I made $750! I apologize I must have tried to explain it about 7 or 8 times and still no one understood me but a few people came very close. You made it look great.

If you've applied for this, purely to get deals on comics (how stupid of me .. of course that's why) .. what happens when you go over the credit limit? If you go crazy .. expect a knock on the door from people who will want to claim that money back. Your prized, high-item books .. $5 each .. that's probably what value they'll put on each one to get their money back .. a comic book is a comic book to anyone who doesn't know the different values, right? Your stock AND personal comics will be WIPED OUT! Let's face it, you've made less money on comics than you've laid-out. You have a minimal wage job to support your lifestyle .. adding a card to the mix is potentially (no real potentially about it) dangerous and irresponsible if you have issues with money and not budgeting etc .. this is not a good move for you. Agree times infinity. This is trouble waiting to happen. What is the interest rate on the card you were approved for? 19.99% To echo a previous comment, cut it up! At 20% interest, your monthly payments aren't even likely to bite into the principle. Why would I waste my time with monthly payments? At that rate I would be in debt for sure that's why I said I go for quicker flips and pay off what I buy before the 30 day grace period ends. OK, and what happens when you buy a book on the credit card and then can't find someone to buy at a profit within 30 days? If that were the case I would make sure it's a comic that I'd be able to pay off quickly before the interest rates come into effect. If you could come up with the money to pay off the book in 30 days without selling it, why not just save for 30 days and buy the book with cash. No need for a credit card at all. Honestly depends what that comic is and I'm trying to build up credit as well since I'm being hounded for it.

If you've applied for this, purely to get deals on comics (how stupid of me .. of course that's why) .. what happens when you go over the credit limit? If you go crazy .. expect a knock on the door from people who will want to claim that money back. Your prized, high-item books .. $5 each .. that's probably what value they'll put on each one to get their money back .. a comic book is a comic book to anyone who doesn't know the different values, right? Your stock AND personal comics will be WIPED OUT! Let's face it, you've made less money on comics than you've laid-out. You have a minimal wage job to support your lifestyle .. adding a card to the mix is potentially (no real potentially about it) dangerous and irresponsible if you have issues with money and not budgeting etc .. this is not a good move for you. Agree times infinity. This is trouble waiting to happen. What is the interest rate on the card you were approved for? 19.99% To echo a previous comment, cut it up! At 20% interest, your monthly payments aren't even likely to bite into the principle. Why would I waste my time with monthly payments? At that rate I would be in debt for sure that's why I said I go for quicker flips and pay off what I buy before the 30 day grace period ends. OK, and what happens when you buy a book on the credit card and then can't find someone to buy at a profit within 30 days? If that were the case I would make sure it's a comic that I'd be able to pay off quickly before the interest rates come into effect.

Deal update The comic has been recieved and I got the 700 dollars finders fee Pics I wasn't able to rotate the back pic for some reason

Yes

Agreed. I wonder if something is being lost in translation but If Gabe actually profited $700 out of this deal for essentially a finder's fee well yeah, damn. Yes everything is said and done which left me with a profit of 700 dollars as a finders fee with nothing out of pocket for me.

This still isn't clear in my mind. You and your "friend" went in on a $1200 book together. You put up $500, he put up $700. At one point you said something about "unfriending"...is this a real friend; someone you know personally? Or is this someone you know through facebook comic chats? How well do you know this guy? Back to the deal, the book was shipped to you but it took a long time for you to receive it because UPS was "playing games" with you. You receive the book in-hand and now your friend decides he wants to be the sole owner of the book? To do this, he should be giving you $500 just for you to not take a loss. Realistically, you should be given a finder's fee if this is a client...something on the order of 10%. But you say he gave you $700. Is this on top of the $500 he needed to give you to buy you out of your ownership of the book? Or was it $500 to buy you out plus a $200 finder's fee? You say you "sold" it for $1,900...so it sounds like he bought you out for $500 and then gave you a $700 finder's fee. $500 (your initial investment) + $700 (friend's initial investment) + $700 (finder's fee) = $1900? Is this how it went down? I approached the buyer to ask if he wanted to split $500 (me) and $700 (him), so a 42/58 split, to purchase the $1200 book. He asked what I'd be selling the book for after the purchase, I said around $3k in the future. He decided there was a win win situation for us both as he wanted the book. The max profit I could earn at selling it for $3k down the road was: (3000-1200) * 42% = $756 So he offered to send me $1950 goods and services. This put the required funds in my PayPal balance. I then sent $1200 to the owner of the bb28. Prior to funds being transferred, I asked the seller of the bb28 to send a picture with a personalized note next to the book to prove he had it since the price was too good to be true. He did so so we went forth with the purchasing via goods and services. I received a tracking number. I received the book on Thursday. Took a picture of the bb28 and sent it to my friend who should receive it today. At the end of the day we both come out ahead. I get my max profit quickly. He gets a book at the price that the last 2.5 sold for which had two hole punches in it from a heritage auction recently. I'm still confused. At what point did your "friend" decide he wanted to be the sole owner of the book. Had you put up $500 of your own money already? What was the plan if your "friend" didn't want to be the sole owner of the book? You said the future value of the book was $3K. From others here, it seems the current value is around $1900. Who holds the book until the sale? How long do you wait until you sell? Is the future price placed solely on movie speculation for the upcoming Justice League movie? So many questions. If it works out the way you say it did, I'd say you got lucky, but you did very well for yourself. It sounds like you essentially got tomorrow's speculative sales price with very little money up front. If that's truly what happened, don't count on that happening often. It's also tough to tell how savvy this friend of yours is by your accounts. If he's serious about collecting, why would he not just get the book himself and cut you out of the deal to begin with? And why would he just believe your future valuation of the book? If you told me that this classic key that has been desirable for years would suddenly jump 50% in value based on a new movie coming out, I'd say you're very optimistic. It's not impossible, but it is unlikely. Yes everything already worked out and he's happy, my friend decided to own the whole thing as he said it would just be easier and less headache to deal with. The future evaluation of the 3k is based on the jla movie and the it's a mega key issue.The book would have been held by me till I got the word he wanted to sell it which we would both agree when to sell it. If my friend didn't want to be the sole owner of the comic we would have split it like it was calculated before. No none of my money was spent on this comic.

No nothing in comics just straight up 1950 in paypal cash and it was paid in goods and services just in case something would happen.

when his friend decided to "buy out" uchiha's 42% stake in the book (based on the 500/700 purchase price split) for $1250 (paying uchiha's $500 stake, plus giving him an extra $750??!) his friend ended up investing $1950 to own a book worth $1900 (or so), but owned it outright, as opposed to investing just $700 to own 58% of a book immediately worth more than they bought it for. I need to find friends like that. Yes that's how the deal worked out

I'll explain 1950 was split into three parts 1200 for the comic 50 for fees 700 finders fees

So based on your future valuation of the book to be $3k in the future he paid for the book in full and paid you a $700 bonus ($1950 total), essentially paying full market value for the book. This would make sense, it's worth paying full price for a book if you think it's going up. And if he thinks there's future value in the book, he'd rather own it outright and have rights to 100% of the future profit based on market increase. So instead of paying $700 and having an immediate profit of $406 (58% of the immediate $700 profit) absed on the original agreement, he chose to: Spend $1900 and have an immediate profit of $0, but 100% of future profit. If the book became worth $3k then he would have profited $1044 (58% of the total profit of $1800 ($3000-$1200) Now if the book becomes worth $3k, he profits $1050 ($3000-1950), $6 whole dollars more than the old scenario. BUT THIS IS ALL BASED ON THE CERTAINTY THAT THE BOOK BECOMES WORTH $3000, which is not a certainty. IN this new scenario he holds 100% of the risk if the book doesnt hit the magical $3k value. Why would he take the additional risk, and thow all of his potential profits to you for a finders fee ($750) It doesn't make sense. Also a $750 finders fee is what 62% of the purchase price, or almost 40% of the market value? Does anyone pay that kind of finders fee? What happens when the book doesnt go up enough in value? This is the first time you've used the phrase "goods and services". Was this an all cash (via paypal) transaction? Or is he sending some "goods and services" as part of the $1950 value? And what are those "goods and services"?? This was all a paypal transaction and the goods and services was the 1950 usd he sent me. He said that this is for his personal collection so he doesn't mind too much if it goes up but he said he was happy with the deal.

Why did you apply for a visa? Credit can be very dangerous! I didn't they kept bugging me about it .. as they do, when they want business. Gabe, I'm out. Good luck. Ok

If you've applied for this, purely to get deals on comics (how stupid of me .. of course that's why) .. what happens when you go over the credit limit? If you go crazy .. expect a knock on the door from people who will want to claim that money back. Your prized, high-item books .. $5 each .. that's probably what value they'll put on each one to get their money back .. a comic book is a comic book to anyone who doesn't know the different values, right? Your stock AND personal comics will be WIPED OUT! Let's face it, you've made less money on comics than you've laid-out. You have a minimal wage job to support your lifestyle .. adding a card to the mix is potentially (no real potentially about it) dangerous and irresponsible if you have issues with money and not budgeting etc .. this is not a good move for you. Agree times infinity. This is trouble waiting to happen. What is the interest rate on the card you were approved for? 19.99% To echo a previous comment, cut it up! At 20% interest, your monthly payments aren't even likely to bite into the principle. Why would I waste my time with monthly payments? At that rate I would be in debt for sure that's why I said I go for quicker flips and pay off what I buy before the 30 day grace period ends.