doctor stavros

Heres a question for you all:

They say money comes to money

So.................

What would you do with £5k to turn it into, say £5.5 or £6k in a quick turnaround?


The reason i ask, is i always see my more 'wealthy' pals buying stuff, selling stuff for a good profit etc, and i never have the cash to do it.....

But, I think i will be taking a 5k loan to pay some stuff off, and I am toying with the idea of investing in something for a few weeks to make a quick buck before the money gets used for what it was intended....


Sensible answers please, no drugs or anything, just a honest way of making a few quid.



Ta guys, Paul

Jim Galbally

if it was that easy we'd all be rich

RS LOZWORTH

lottery tickets

doctor stavros

im not after big money, even if i could use 5000 and turn it into 5100 then that would be good. i just wanna do something productive with it before i use it to pay stuff off.

i wont have 5k in my bank again for a long time...........

RS LOZWORTH

cant you put it in a ISA bank account i dont know much about them but what i can gather you would make £100 in intrest easy

PhilM

On £5k youll get about £15 interest a month

doctor stavros

dont forget the 5k is coming in the format of a loan, so ill be paying interest back on it, so any kind of high interest savings is a no no

RS LOZWORTH

to be honest why not bother with the loan and just save the money, i really dont think u will make any money this way

doctor stavros

because after a quick fix, the loan cash is being used for consolidation of other things i owe out. it has a proper purpose, just want to see if i can make a few quid out of it first. ill have 30 days from when i recieve the money until i need to have it all back and paid all the stuff off before the first loan payment is due

matts1

Money to money is true mate, BUT it is because of a couple of reasons...

a) you always have cash at your finger tips and so are in a position to get you mits on something that is cheap or a good deal instantly and before others.

b) because you have expendable cash, you are more willing to take a punt on something, and so the more you do this, the more chance of it paying out, if it don't, then it aint the end of the world.

you have 5k that aint your money to pay of a number fo debts - so, unless your very lucky, your unlikely to be turn a profit on your cash in a quick deal.

Best bet is to hope a cheap motor crops up that someone is in shtuck and needs to free up cash, you buy it then sell it for the proper market value.

dave_y

iTrader: (4)

stock market perhaps

indycos

iTrader: (2)

become a loan shark. use the 5k to loan out to other people who are desperate for it. charge a high interest rate and get ready to pop a cap in anyones ass who doesnt know what payback means

rssteve

lol at the OP.If you seriously want to make a £100 one off, then get a job down the local burger flippers. do 20 hours and theres your extra £100.

LHD220Turbo

iTrader: (4)

if you want quick profit in less than a month you cant be too fussy what you buy for a quick turnaround, cars is a great example, i buy and sell a few and although its geting difficult to sell them on in the current climate, you can still make cash quickly

if you know anythying about cars you cant really fail to make quick cash. Little tip is to look at cars at less than a grand.

longer term? invest in gold!

Mr Brannen

Car Auctions,absolute gold mine if you can be arsed to advertise the cars and answer the phone to timewasters

R5FORD

iTrader: (1)

scams.

Paddy

If you'd be happy to turn around £100 off of £5k of money you're paying interest on and using to pay debts off here's my advice:

Get an evening job delivering pizzas or working in a pub.

You'll earn £100 a lot easier without any risk of ending up with fuck all.

And whilst you're out earning, you won't be spending money on the shit that probably requires the £5k loan you said you need to cover debt.

bigal1978

just watched some one spend 800 quid on a t4 volkswagen send in for quick blow over 800 then lower it bolt some wheels one and sold it the next week for 3500 made 1500 quid in 2 weeks for layin out 2k and not get dirty

now doin number 2

mechanic28

iTrader: (5)

penny shares!no need to take a loan out,say put £100 in coud come out with 200-300!i have never done it by the way!just heard about it!

Rossco

Put it all on dogs and horses, will make you loads!

fuzzy

your happy with £100 profit over a month for risking 5G? get a job and youll earn 10+ times that in a month. no risk.
theres risk in all sorts of speculative money making schemes, of there wasnt we'd all be rich.

dovboy

car.buy from someone desperate then sell.

ballin

iTrader: (1)

what a ridiculous question, there is nothing you can do that will earn you more money off that £5k than the interest will be on the loan.

Unless of course you want to risk losing the whole lot, in which case you could potentially make anything from it if you're lucky/skilled enough

rssteve

just hire you arse out, sure you will get £100 in one single night.

Adam.

buy a cossie

doctor stavros

a massive chunk of the money i owe is due to splitting with the mrs and the subsequent costs (bond on her house, 1st month rent for the house, her taking my sofa, her needing a tv etc etc - its hard to just walk away when there is a child involved and i had to support her financially)

i have a decent paying job etc, the £100 profit from £5k was only speculative, i would prefer to make more if i find a good enough idea, i just have to think out of the box a little

the point is 2 facts

1) i will have the 5k and i will have to pay it back at an interest %
2) it will pay off debts that need clearing

so surely even a £1 profit is better than just getting the money that i will have to pay back and putting it to its intended use straight away
the loan HAS to be taken and the subsequent interest, i just wanna make themoney work a little for me before i use it properly

Archie_1989

i know its out of your budget but, my great plan was if i borrowed 54 grand from a bank then got my name on the list for the new nissan gtr, buy it, keep it extremely safe until they had sold out and sell it onto a serious professional collector for double or triple the purchased amount. they're bound to pay. thats what happened with the ford gt didnt it?

doctor stavros

lol lets get 11 of us together and go into it

foreigneRS

brilliant idea - you may as well walk into the bank today and approach the manager with that one. he is bound to go for it, there's absolutely no risk is there?

that sort of thing is called specualtion - it may happen or it may not.

Paddy

Sorry, what's it called?

foreigneRS

i've got all the right letters, just not in the right order. i do that all the time, even when handwriting, but usually correct it

Paddy

Do you need a new pair of specualtionicles?

Back on topic for the bloke: as Nick said, every thing you put money into over and above a savings account is going to have some risk otherwise everyone would be doing it. It's called barriers to entry - which means the factors preventing people from entering a particular market [that ok Nick? ].

Have a look through the local papers/free ads etc. for anything you could turn around quickly on ebay or at a car boot sale.

When I was in my early teens, me and a mate would buy up all the computer games and comic books we could get our hands on and flog them on. I moved onto other stuff as I got older like Rolf Lauren [] shirts and watches, then obviously into cars after Uni and trying to work in the real world

If you're serious about it, pick something you're interested in, don't large it up in front of your mates [you may want to sell something to them one day and if they think you're making loads out of them, they won't hand over any cash ] and don't bank on making fortunes!

Nick D

Not sure if this question if for real or not, but have a read about Alliance and Leicester's story this morning. Some money to be made, but is a risk.

bigryrs

iTrader: (10)

scour ebay for wholesale products like 10 pairs of timberland tracksuits for 150 quid for example there is bargains to be had on ebay wether its car parts or a football shirt signed by players you could buy an item and sell it 3 weeks later for more
check your local car ads for cheap motors just go along and offer them a daft amount of cash for their car if they have just bought one they will take a cut on the one for sale just to get rid of it
i bought a set of twin 40 dellorto's out of a paper for 50 quid i gave them a clean up with a toothbrush and some wd40 then put them in the same paper for 100 sold the same day they were put in
this isnt bullshit advice from someone who has never tried it ive done it over and over and i dont lose money

Tonks

put the money in premium bonds. their as safe as you get.

foreigneRS

they are only safe in that they always have a face value - however, due to inflation, that face value is worth less every second. you only ever make money off premuim bonds if you win on them above the rate at which they are depreciating. waste of money imo.

if you want to make a quick buck, but don't mind taking a risk, as Dunlop says, speculate on something like the share price of alliance and leicester (probably too late to make big gains now that the story is public). otherwise, with spread betting on shares, you can make money even in a downward economy.

Nick D

Nick they have offered at 299p per share plus a right to receive an expected 18p interim dividend. Llyods TSB and Santander are favorite to take there loan book onto their UK platforms saving them £200m per annum (saving depending on branch consolidation(s))

St3V3_C

One thing to think about - the longer you don't pay off the other stuff, are you paying more interest there? I know you mentioned TV/sofa etc. so not so much on that, but what about everything else?

Porkie

iTrader: (1)

I'm a bit lost on this post...