Here’s a Moneymaking Trick to try on the fly-Benjamin Zulu
Most people only know how to make money when they sell. That is, selling something with a margin above what they bought it for. A profit, that is. This is a good direction, but it’s too obvious, crowded, and often slow.
A better way is to learn to make money when you buy. That means purchasing things below their market value, and then you turn around and sell it at the standard market value or at a nominal margin above it. The idea is to make a considerable amount of money quickly.
A quick way to buy things below their market value is to purchase from distressed sellers. When people are disposing assets to solve a financial crisis, they often sell a big discount as long as you can pay in liquid cash.
It’s a fair trade in that you’re helping them sell quickly, and that’s what makes the difference in price. To put it in other words, the car goes for 1.3 million, but if you have 900k cash, you can take it now. It’s not predatory or immoral. The seller may have kept the assets for such emergencies like that, and you’re saving them the hustle of long processes of selling to corporate customers.
To benefit from these kinds of opportunities, all you need it to keep uncommitted cash in your bank. Most people can not access cash without several week’s notice, and this will be your competitive advantage.
This is how village tycoons become wealthy. They develop a reputation for being a ‘rescuer’ for crisis sellers. They don’t even need to keep the items they buy or sell them at exorbitant prices. They just sell it at the natural pace and at the standard price. They already made their money at the point of purchase.
What due diligence is needed? Of course, there are cons who fake a distress to sell you faulty things. You need to be prudent and still follow due purchasing procedures. When cash is ready, such procedures of transfer and paperwork never take more than a day or two, and the seller can still redeem their situation.
Again, all you need is to keep a speculation amount with you. Such opportunities pass very fast because their compelled by situations; a parent who needs to liquidate a piece of land to to get their child to school; a trader who needs to dispose a car to clear their cargo at the port; a diplomat who is disposing his household items to relocate to a new job posting, on and on. This is where chance favours the prepared.
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