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re: help with son's money matters class
Posted on 9/11/20 at 3:06 pm to Houston Texas Tiger
Posted on 9/11/20 at 3:06 pm to Houston Texas Tiger
Buy a junk non running car for around $150.00, remove catalytic converter and sell , currently worth $100.00, sell battery for $5.00, sell remainder of car for about $250.00 at current scrap prices. Use profit and initial investment to buy two more junk cars, scrap out in same manner, repeat process until $1,600 is accumulated. I have a family member that has been doing this for 25 years, and currently buys and sells around 1500 cars a year.
1
Posted on 9/11/20 at 3:16 pm to EA6B
quote:
Buy a junk non running car for around $150.00, remove catalytic converter and sell , currently worth $100.00, sell battery for $5.00, sell remainder of car for about $250.00 at current scrap prices. Use profit and initial investment to buy two more junk cars, scrap out in same manner, repeat process until $1,600 is accumulated. I have a family member that has been doing this for 25 years, and currently buys and sells around 1500 cars a year
Yep. It’s called “parting it out”. You’ll ship parts all over the country.
An easier version is to hit up garage sales and check eBay on the itend. Buy anything that has a resell market.
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