Sunday, February 10, 2008

Step 14-19 - Brokering a deal

February 8, 2008: Brokered a deal that shot me ahead a few steps.

Amount: $1584.65

I had the opportunity to put together a seller and a buyer for a car. I know a lot about these cars, as I've owned four of them. I know the market a little bit as I'm always looking for a good deal, even when I can't afford one. Call it a hobby. Anyway, I had an acquaintance that needed money fast and had one of these cars for sale, a convertible at that. Given the weather lately has been so warm, it was a good opportunity to raise the asking price and appeal to someone's emotions. I used my network of friends and found a buyer for the car. The purchase price wasn't that unusual, $2500 for a car that is 20 years old, but destined to be a classic (Its a 5.0 mustang convertible.) In this area they are particularly popular and difficult to come by at anywhere near the blue book price, which is around $1500. So no worries. I got the seller to agree that I get anything above his asking price (which was $1000, thats where the value of the deal came, he was asking way too little.) no matter what. He agreed.

I got the two together and actually handled the money (I have to protect my interests, yes?) and title for the two folks. Now I am the owner of 1500 brand new dollars, woot!

That gets to go into my stake, making it a whopping $1584.25, a good bit into Step 19. Nice, huh?

Now, I have to find a place to put that money to make it grow some more.


One Green-Paper Flip said...

Wow. Just found your blog and this post blew me away. Awesome bit of work here. Teach me oh master!


~S~ said...

Thanks Flip. It was more about being at the right place at the right time and knowing the two guys that didn't know each other. Just a lucky break,I'd say. :)