Lets be Realistic People

[gorbasho]

A good investment too is to have a kitchen garden, and especially make grow some salad. Awesome ROI (about 800%)

 

(radish are ok too, if you want several kind of vegetables in your vegetefolio)

What kind of vegetables should I invest in? Thinking about tomatoes but there's still a while until harvest, what are some good short term growers? My Target clearance dropped parsnips to 30% off + red card, is this a good deal? 

[Ciglione]

What kind of vegetables should I invest in? Thinking about tomatoes but there's still a while until harvest, what are some good short term growers? My Target clearance dropped parsnips to 30% off + red card, is this a good deal? 

 

I think Brussel Sprouts. Nobody likes them so they could be flying under the radar vegetables.

[Darth_Raichu]

I think Brussel Sprouts. Nobody likes them so they could be flying under the radar vegetables.

Not anymore. You mentioned it on BP. The secret is out. The QFLL everywhere are emptying the Brussel Sprouts shelves at Targets

[ZULU]

I do find it a little comical when people add in the the "cost of time" to sell the items. This would most definitely be true for those who rely solely on sales to pay their bills. For most of us, it's a side hobby and we have a full time job. The "cost of time" to sell is only applicable if you would be doing some other money making venture at the same time.

 

If the time you used to sell would otherwise be spent watching tv, going to a ballgame, eating dinner, going on a date, etc. the "cost of time" is actually ZERO.

 

I can't agree less.

Who has packing or waiting in line at the post office as a hobby?

 

:/

[jerryherb]

<---- this guy...

 

 

I can't agree less.

Who has packing or waiting in line at the post office as a hobby?

 

:/

[comicblast]

...And this ^ , ladies and gentlemen, is how a productive and informative thread is turned to the dark side. 

[Guest TabbyBoy]

Brussels sprouts are great, I can't levitate without them.

[naf]

I do find it a little comical when people add in the the "cost of time" to sell the items. This would most definitely be true for those who rely solely on sales to pay their bills. For most of us, it's a side hobby and we have a full time job. The "cost of time" to sell is only applicable if you would be doing some other money making venture at the same time.

 

If the time you used to sell would otherwise be spent watching tv, going to a ballgame, eating dinner, going on a date, etc. the "cost of time" is actually ZERO.

 

I agree.  Instead of wasting time watching TV or other such things, I spend that time doing this Lego thing.  I think people get a little too caught up in calculating in the cost of their time.   Where do you stop?  If we included the time spent on brickpicker, I'm willing to bet we're all deep in the red.

 

 

I can't agree less.

Who has packing or waiting in line at the post office as a hobby?

 

:/

 

 

I have my stash organized on shelves, which minimizes both storage time and finding a set once it sells.  I save boxes sorted by size and keep them in my garage, easy to get to.  If something sells, it takes me about 10 minutes to find it and get it in a box.  I photograph sets right away before putting them on the shelf, and keep them on my computer for easy ebay listing whenever I want.  I print the label myself and have USPS pick the package up off my porch, so no waiting in line at the post office.  These are all little things that can really minimize the amount of work needed.  Are my costs $0? Not at all, but there are ways to keep those costs and hassle down to a minimum.

[iahawks550]

Thats is wrong way to look at it.... its more theoretical than you make it to be.....

 

Basically if you have a job, you should take your hourly pay in your job and comapre it to your calculate hourly pay from doing your ''Hobby'' 

 

Anyone who has more than 100 sealed sets in his brickfolio is far from a hobby guy(unless you are waiting for more room to open majority!)......

 

I can call myself that ''investing'' in LEGO is my hobby, I have 850$ currently invested in LEGO which is about my 1 month payment (give or take a few $$$) i have 0 Ebay auctions or listings atm, and have a Bricklink shop with like 25 items (currently) 

 

but still have over 2000$ worth of stuff on displays...... 

 

 

 

 

The point is, if you can find a 2nd job, that pays per hour more than your ''hobby'' does you are negative on the potential revenue income..... now turn it as you wish, thats what it means to count in the time costs.... 

 

You can still do it, since you're a free man to do as he please, but dont fool yourself like you did

I disagree with a majority of this. For one, I don't need a second job, nor want a second job. Could I find one that pays $20/hour, of course I can. But that would be work. Buying and selling from my home is not even close to work. It's actually a stress relief from my real job.

 

As far as being a hobby, it most definitely is. The only thing my investments or flipping does is provide more money to have fun with and scour deals looking for good buys. That is the hobby, and that is the fun part for me. I have a pension, I have a 401k, I have other savings and investments. For me, it's nothing more than disposable time I would probably be wasting somehow else.

 

But, good discussion and a fun topic.

[minicoopers11]

I disagree with a majority of this. For one, I don't need a second job, nor want a second job. Could I find one that pays $20/hour, of course I can. But that would be work. Buying and selling from my home is not even close to work. It's actually a stress relief from my real job.

 

As far as being a hobby, it most definitely is. The only thing my investments or flipping does is provide more money to have fun with and scour deals looking for good buys. That is the hobby, and that is the fun part for me. I have a pension, I have a 401k, I have other savings and investments. For me, it's nothing more than disposable time I would probably be wasting somehow else.

 

But, good discussion and a fun topic.

Same boat for me. Have a good, solid, well-paying 40 hour per week job and do not want another job. I love building and collecting Lego. Why not resell it, too? I really enjoy it.

[Ciglione]

Brussels sprouts are great, I can't levitate without them.

 

Tabby... do not start complaining in a year or so that you had multiple k invested in Brussel Sprouts and you had to sell them all below buy-in price.

[gregpj]

I could have posted this in the laughs thread, but seems appropriate here...

 

[ZULU]

<---- this guy...

 

 

I agree.  Instead of wasting time watching TV or other such things, I spend that time doing this Lego thing.  I think people get a little too caught up in calculating in the cost of their time.   Where do you stop?  If we included the time spent on brickpicker, I'm willing to bet we're all deep in the red.

 

 

 

 

I have my stash organized on shelves, which minimizes both storage time and finding a set once it sells.  I save boxes sorted by size and keep them in my garage, easy to get to.  If something sells, it takes me about 10 minutes to find it and get it in a box.  I photograph sets right away before putting them on the shelf, and keep them on my computer for easy ebay listing whenever I want.  I print the label myself and have USPS pick the package up off my porch, so no waiting in line at the post office.  These are all little things that can really minimize the amount of work needed.  Are my costs $0? Not at all, but there are ways to keep those costs and hassle down to a minimum.

 

Guys 

 

First of all, my quote has the intention of being constructive - even though it was probably too short and direct    . 

 

To give you the context: I have started the investing business through buying lots and reselling used sets for a profit and a hobby and stopped when I added up all the hassle. I wrote a blog article on it to share my experience - you'll find it on this site.

 

When I read that time spent on selling LEGO costs ZERO, I respect that as it will be the case for a lot of well organized investors, or passionate LEGO fans with plenty of time. But it can also give the wrong impression: that buying is as easy as selling. And that administration and taxes are as great as watching TV... Now I prefer Game of Thrones to packing the boxes and putting them online.  Thats why I added this "crude remark". 

 

This said, I like this thread as it helps newer investors and me. I also like respect for any opinion. 

Please me nice to me and all the other posters and readers? 

 

Hope this helps some more

[brickmasterson]

Don't people get chastised on these forums for going against the grain? I've found this post quite civil compared to others that have also stated the obvious. Who passed out the chill pills?

[stephen_rockefeller]

No one gets chastised for going against the grain as long as it's presented in a non confrontational and tactful manner.

[Frank Brickowski]

 

 

consider what other paid work you could get for that same amount of time.
 

 

basically true, but I rather tend to  say: consider what other paid work you could get for that same amount of FUN - can't think of any. So for me as long as you enjoy the time spent with investing in LEGO it's a good deal.

Also generally, it might be more about the fun you have and less about the money you make; speaking about life as a whole, not necessarrily about LEGO investing alone...

[Alcarin]

I disagree with a majority of this. For one, I don't need a second job, nor want a second job. Could I find one that pays $20/hour, of course I can. But that would be work. Buying and selling from my home is not even close to work. It's actually a stress relief from my real job.

 

As far as being a hobby, it most definitely is. The only thing my investments or flipping does is provide more money to have fun with and scour deals looking for good buys. That is the hobby, and that is the fun part for me. I have a pension, I have a 401k, I have other savings and investments. For me, it's nothing more than disposable time I would probably be wasting somehow else.

 

But, good discussion and a fun topic.

 

Sure you can disagree but its still like I wrote it to be..... For economics and mathematics your feelings are not accountable, only cold numbers, and by numbers you're losing money if in the same time you can earn more elsewhere. 

 

Thats pure fact...

 

Now that does not mean you are not allowed or its dumb to do what you're doing, just dont fool yourself is all I'm saying in terms of calculations...... 

 

When I do sports bet I also have a negative return in terms of $$$/hour but I dont try to hide that under ''hobby'' or ''fun'' I say ok I'm losing potential money but its still fun, even though I'm making less than I could elsewhere...... 

 

Thats all, I am trying to say, net profit per hour for LEGO investing is in most cases lower than getting an extra paying job, especially If you do not have 5 digit number to ''invest'' 

 

 

 

1 thing is calculations another is your feeling and joy.... 

[Ed Mack]

I think there has to be something said for the enjoyment of this hobby/business. It's not like people are reselling copier machines. If you strictly think of LEGO sets as a commodity, you are missing out.

Sent from my iPad using Brickpicker

[Alcarin]

I think there has to be something said for the enjoyment of this hobby/business. It's not like people are reselling copier machines. If you strictly think of LEGO sets as a commodity, you are missing out.

Sent from my iPad using Brickpicker

 

Yes ofcourse, but if you consider mowing lawn as a hobby and are making money off of it and you are offered a 300% (example) more per hour somewhere else, you're still (mathematically and economically) losing potential income, regardless of how you feel doing your current vs your potential new job..... 

 

It still means you'll be happier doing that than 300% more per hour job, but for calculations thats passing up 300% more per hour and you can say whatever you like 

[KShine]

I think there has to be something said for the enjoyment of this hobby/business. It's not like people are reselling copier machines. If you strictly think of LEGO sets as a commodity, you are missing out.

Sent from my iPad using Brickpicker

 

Agreed, I know that my kids like to laugh at me when I mention that I am trying to work (playing with LEGO all day) - Maybe I should try not to "swoosh" so loudly.

[DoNotInsertIntoMouth]

I can easily imagine DNIIM in trench coat with minifigures inside. Boxes are kinda awkward...

 

I sell trenchcoats.

 

I walk up and fly open my coat and go "Hey! Wanna buy this coat?"

[Quacs]

I sell trenchcoats.

 

I walk up and fly open my coat and go "Hey! Wanna buy this coat?"

As long as your wearing something underneath the trench coat, I say go for it...

[DoNotInsertIntoMouth]

As long as your wearing something underneath the trench coat, I say go for it...

Hmm maybe that's why no one has bought one...

[justafrog]

Re: "I like this so it doesn't matter if I'm making $1/hour" keep in mind that you (generic you, no one in particular) probably don't like ALL aspects of buying and selling LEGO.

 

Typically, people will love the thrill of the hunt - that's legit fun time for most of us. People usually enjoy unpacking the spoils when they arrive on the front porch. They probably enjoy looking at their treasure cave of sets. Edited to add: They like the money rolling in on sales part.

 

And then there are the less fun (for most people) things: storage re-arranging; dusting or dust-covering; paying for the storage space or dealing with storage issues; a little angst over potential under-performers as time goes on; taking photos of the items; listing the items on a venue; packing and shipping the items; normal customer service issues.

 

And then there are the things nobody enjoys: lost shipments, damaged shipments, bad buyers, sets that don't appreciate at all or lose value

 

There are a lot more to each of those three categories, of course, and everyone has a different tolerance for dealing with problems, but to make a broad brush, "buying and selling LEGO is fun! Who cares what I make?!" type of statement is probably not as accurate as you think.

 

Gamblers focus on their wins and sweep their losses under the rug in their own minds. I think some LEGO investors may be the same way, or if they haven't started selling much yet, haven't hit the "work" part of the "hobby" fun.

[Alpinemaps]

I said earlier his week that you have to have a goal, and know what that is.

When it comes to strict profit, I'm looking to break even - I want to make sure that whatever profit I make covers the cost of the sets I buy to build.

With bulk lots, I'm definitely looking to make more than I spent on the lot. However, I'm realistic about it - I'm sure I'm making less than a $1 / hour sorting through the bulk. But, I find it therapeutic. After being a manager at work all day, I'm anxious to let my mind just concentrate on sorting bulk. So, it's an acceptable "loss."