How does one become a millionaire by reselling things?
By reselling things as in products? Or by reselling services?I know a number of businesses (having worked for them) that re-brand (White labelling) software/services in order to offer more to their clients and thus increase customer retention and upsell where possible.Let's put this into a website design setting for example. You can rebrand a whole CMS - front and back end with all of your companies branding and sell it to existing directory customers without having to worry about hosting/software updates/security etc as this is all handled by the host company rather than yourself. Some businesses also sell their services allowing you to offer their services and without you having to retrain/hire more staff and to just focus on marketing. The possibilities are endless.In terms of products, reselling products can be difficult to source with little competition. Amazon itself (not as a selling platform, as a merchant) are a huge reseller and many Amazon branded products are just products that they have bought exclusive selling rights for. Think Kindle etc.Hope that's got your thinking cap on and keep asking!
Buying a new car with bad credit?
Noone needs a new car and noone needs a car that costs $24K. . If you have bad credit, nothing is worse than getting a loan with a 20+% interest rate. I suggest you look for a car you can pay cash for and build your credit over the next couple of years. Then, buy something nicer. You will save a lot of money in interest and car payments over the next couple of years. Who knows, in 2 years, you may be able to pay cash for that $25K car.
What is the best way to buy your first house if your credit isn't the best?
If you can find a contract for deed, this may be the way to go. Mind you, these are also full of traps and pitfalls in certain circumstances, and there are sometimes missing inspections, etc. It is certainly a situation of "buyer beware". Having said that, there are some white knights who choose to offer contracts for deed for this very reason. They want to help someone out. Do your research and have an attorney look over the contract, and understand the balloon payment built into many of them. This gives you time to improve your rating to qualify for a conventional mortgage. But be sure the house qualifies as well, and follow through diligently with the belt-tightening required to improve your rating, avoiding the temptation to do major upgrades to the house or its furnishings until after the conventional mortgage is in place.You will need to have saved a down payment, so accomplish that first. Some do this by having extra withholding taken from their paychecks for a year or two and then dedicating their tax refunds to the down payment kitty.
Can i buy a used truck with no credit or money down?
Auto finance is what I do for a living and there are 10 things that go into making up a car deal weather it's a purchase or a lease and all can effect the interest rate. 1. Term of loan. Shorter the better. 2. Age of vehicle. Newer the better. 3. Miles on vehicle. Lower the better. 4. Amount to finance compared to book value. Lower the better. 5. Credit score. Higher the better. 6. Credit profile. Deeper the better. 7. Down payment. More the better. 8. Monthly income. Higher the better. 9. Time on job. Longer the better. 10. Time at residence. Longer the better. As long as all of the above are in line with the lender guide lines and you make enough income to budget for the payment you should be approved. As you can see from the above list there are way to many things that go into making up a car deal to guess at your interest rate. Just so you will know this is a breakdown of F.I.C.O. scores used by one of the largest credit unions in my State. FICO system scores from 300-850. Elite-740-& up Prime-700-739 Preferred-660-699 Standard-625-659 Sub-prime-624-& under From what you have said your problem is going to be your lack of established credit and low monthly income. All lenders have minimum income requirements that start around $1,400.00 a month. Try your own local bank or credit union first.. Good luck.
How do credit bureaus make money?
Interesting question. Credit bureaus are actually in the business of selling information. Here are some ways they profit.As someone else stated, they sell lists to companies offering credit, insurance, financial products, etc.Each time an account is reported, the financial agency reporting it pays a small fee to each bureau.Every time your credit is pulled, the company pulling it pays a fee.They sell you your credit score - well, one of them anyway, there are over 40.They sell identity theft policies/services.While you are entitled to one free copy of your report each year, they will gladly sell you additional copies through the year.I’m sure they have figured out other ways to profit from our information, but these are a few I’m aware of.Hope this helps.
Can I return a buy here pay here car with no effects on credit report?
I bought a car last year. Since then, it's been towed 3 times to replace a coil pack, fuel pump, and transmission problems. I got sick of it breaking down,putting so much money into it so I just bought a new car and don't want to pay for a car that I'm no longer driving. I called the dealer, explained the situation, and asked if I could return the car. He said yes. It was towed away today. Am I free and clear? Do I owe anything? Is this considered a repo? Will this be on my credit report?
Car was repossessed, can I buy another one?
Hello. My car was repossessed 2 weeks ago, I was offered a reinstatement deal and I actually paid it however the car was already transported to the auction that's 5-6 hours away from me but was not told this prior to making the payment. I had them reverse the charges because there os no way I could get the car from where it's at and letting it be sold. with that out the way my question is this: will I be able to get another car with bad credit and possibly 0 down. I always see ads stating this but don't believe it's true. I've read some articles and researching dealers in my area but in dire need of a car soon. If anyone has experienced this would love to hear as to get some ideas in the next step. Also the car will be sold on Monday and it hasn't been reported on my credit. How honest should I be with telling dealers about my car? Thanks
I want to buy and resell houses, what is the best way to start?
There are some key points to be aware of, as this can be a lucrative business, or a risky one if you don’t know what you are doing.Know your market - know the most recent sales in the immediate vicinity. Visit the properties sold, and see the condition of the properties ie how tidy, brand new, renovated, do-up etc and start getting a feel for the value of a completed, done up propertyUnderstand maintenance costings for all aspects of work done in a property, from new kitchens, bathrooms, decking, painting, roofing etc, so that you know your total reno costsEnsure that you have finance available to purchase (see a broker and get a pre approval)Make contacts with agents in the area and look at property magazines, internet sites for real estate, private sales etc to further increase market knowledge, and start identifying properties that have a potential eg do ups, distressed sale, needing cosmetic work, subdivisible land etcOnce you know the above, search for areas withing your price bracket, and work backwards to identify potential profit e.g. Market sales value when renovated - renovation costs - sales commission- purchase price = profit (please note that taxation eg gst and income tax has been ignored)Hope this helps