Does anyone here invest in Lego for a living or make great money per year?

[justapilgrim]

Where would you buy most of the bulk? Craigslist?

If you have to ask you are probably not a bulk dealer.

Think of it as an exchange program like trading in your own phone. Bring in used set for $10 use it towards purchase of other Lego.

Word of mouth and repeat customers are where it is at. If you are known as the Lego guy they will come to you. They are a little short on cash or want to get something new they come to you.

There are plenty of people here that would gladly pay $10 for a quart ziplock of Lego they could pick through bulk or $25 for a gallon bag

I just about guarantee I could buy 1000lbs of Lego off eBay at $3-$4 a pound. Plenty to get me started if I really wanted to do this full time. This would just be the steady reliable stream of income while we play the tumbler gambling game

[KShine]

Of course the 100k can be done, but you're not going to be able to just quit your job, curse out the boss, and then go home & start collecting your 100k salary.

As far as what is better to do with your million dollars? If you have the million dollars to start, you should really just keep doing what made you that extra million.

[Lordoflego]

3 minutes ago, KShine said:

As far as what is better to do with your million dollars? If you have the million dollars to start, you should really just keep doing what made you that extra million.

Yeah, but I wanted to go legal this time lol

[Jackson]

20 minutes ago, AirborneAFOL said:

My mistake.

Consider that $750k-1M annual outlay, that's returning $100k profit. You're looking at a 10-15% ROI. Ask your financial advisor for options that have a shot at that ROI - they'll have a dozen options for you. They'd all be considered "high-risk" in finance terms, but nonetheless lower risk than LEGO.

I say this as a guy who did $28k in gross revenue ($7k in profit, not accounting for my 300 hours of time) in 2016, and put serious consideration and math into my scaling potential.

Thanks for the reply. According to my InventoryLab report, my ROI for 2016 was 32%, but, as in your case, that doesn't account for my time or storage space (clutter) in my house. If I could really make 15% ROI by doing almost nothing and not having to store any inventory, I'd probably do it and just forget about reselling altogether.

[Guest TabbyBoy]

I'm sooooo glad that I've called it a day and will just sell what I have left. It's the WORST investment model thst I've ever worked with. I now doubt that I'll ever buy again to resell, only to collect. Newbies... if you're thinking of starting, don't!

[Jackson]

4 minutes ago, TabbyBoy said:

It's the WORST investment model thst I've ever worked with.

It really is pretty terrible, but I feel like I'm in too deep at this point, can't stop.

[AirborneAFOL]

I'm sooooo glad that I've called it a day and will just sell what I have left. It's the WORST investment model thst I've ever worked with. I now doubt that I'll ever buy again to resell, only to collect. Newbies... if you're thinking of starting, don't!

I think there'll always be ample opportunity for guys to basically "invest" to subsidize their hobby. Buy a set and sell just the minifigs to defray the cost of the main build you actually want (or vice versa), find a good deal on a set and buy a few to offset the cost of the one you keep, etc.

Basically a model that ensures nominal overhead and minimal inventory on the books. You intend to join us small timers working out of our basements to support our personal hobby, Tabby?

[exciter1]

18 minutes ago, TabbyBoy said:

I'm sooooo glad that I've called it a day and will just sell what I have left. It's the WORST investment model thst I've ever worked with. I now doubt that I'll ever buy again to resell, only to collect. Newbies... if you're thinking of starting, don't!

Where he goes, nobody knows?  EIFFEL TOWERS BY THE TRUCKLOADS FOR EVERYONE!!!

[ravenb99]

Damn, guess I need to stop buying LEGO and customer returns.  That kind of puts me out of business though....

[Jackson]

3 minutes ago, ravenb99 said:

Damn, guess I need to stop buying LEGO and customer returns.  That kind of puts me out of business though....

Where do you buy customer returns?

[KShine]

5 minutes ago, Jackson said:

Where do you buy customer returns?

 

[ravenb99]

6 minutes ago, Jackson said:

Where do you buy customer returns?

mainly deal with Amazon FC loads these days from all over country but still get some Amazon floor loads of returns as well.   

[ravenb99]

Be sure to have lots of room 

[Pseudoty]

[Shewie]

[Jackson]

6 minutes ago, ravenb99 said:

Be sure to have lots of room 

Yeah, I think I'll pass on all that. How many employees do you have?

[ravenb99]

2 minutes ago, Jackson said:

Yeah, I think I'll pass on all that. How many employees do you have?

Just me

[Jackson]

Just now, ravenb99 said:

Just me

Whaaaa? You go through all that inventory by yourself? You must have one hell of an efficient system.

[Bold-Arrow]

2 minutes ago, Jackson said:

Whaaaa? You go through all that inventory by yourself? You must have one hell of an efficient system.

and a back of steel .. im getting old .

and to answer the OP, it is doable as a one man show with a full-time job, just kiss your social life goodbye  

[ravenb99]

5 minutes ago, Bold-Arrow said:

and a back of steel .. im getting old .

and to answer the OP, it is doable as a one man show with a full-time job, just kiss your social life goodbye  

starting to wear down as well, why I switched to FC high piece count,  lots of smalls.  More sales needed but much easier on the body.

9 minutes ago, Jackson said:

Whaaaa? You go through all that inventory by yourself? You must have one hell of an efficient system.

yup,  yeah going on year 18 so pretty efficient by now..  

[Ed Mack]

20 minutes ago, ravenb99 said:

Be sure to have lots of room 

And you have time to post?  LOL.  You probably post on the toilet.  

[redcell]

31 minutes ago, ravenb99 said:

mainly deal with Amazon FC loads these days from all over country but still get some Amazon floor loads of returns as well.   

What's the difference between an Amazon FC load and an Amazon floor load?

[4cs]

1 hour ago, KShine said:

Of course the 100k can be done, but you're not going to be able to just quit your job, curse out the boss, and then go home & start collecting your 100k salary.

As far as what is better to do with your million dollars? If you have the million dollars to start, you should really just keep doing what made you that extra million.

 

22 minutes ago, ravenb99 said:

Be sure to have lots of room 

Hmmmmm, I do have a 5,000 square foot warehouse that is mostly empty with lots of steel, inventory boxes and a hi lo. Are those mixed boxes of returns or do they sell by category?

[ravenb99]

1 minute ago, redcell said:

What's the difference between an Amazon FC load and an Amazon floor load?

FC is from the fulfillment centers, mainly box damage, new overstocks, few minimal returns that were from FBA sellers or Warehouse deals etc.  (used to be called DC loads but they got rid of the distribution center call them FC now).

come in 2 types High Piece count which is all smalls, and Low Piece count which is lots of big crap.  Can still be very good but you are gonna have some heavy stuff to deal with.

Floor loads are regular Amazon returns loads.  They used to be palletized but over the years freight got higher so they actually stack a 53' trailer from top to bottom end to end to make them larger and minimize freight costs for the buyers. 

2 minutes ago, 4cs said:

 

Hmmmmm, I do have a 5,000 square foot warehouse that is mostly empty with lots of steel, inventory boxes and a hi lo. Are those mixed boxes of returns or do they sell by category?

all untouched loads from them are mixed categories across the board.  Anytime something has been categorized out it has been sorted so have the shot of stuff being gone through.  Still can be good if you prefer certain categories or can't move certain products.  

That is actually a pic of a new load.  Don't have any current pics of Return loads but they are big and a pain to unload.

6 minutes ago, Ed Mack said:

And you have time to post?  LOL.  You probably post on the toilet.  

busted

[redcell]

2 minutes ago, ravenb99 said:

FC is from the fulfillment centers, mainly box damage, new overstocks, few minimal returns that were from FBA sellers or Warehouse deals etc.  (used to be called DC loads but they got rid of the distribution center call them FC now).

come in 2 types High Piece count which is all smalls, and Low Piece count which is lots of big crap.  Can still be very good but you are gonna have some heavy stuff to deal with.

Floor loads are regular Amazon returns loads.  They used to be palletized but over the years freight got higher so they actually stack a 53' trailer from top to bottom end to end to make them larger and minimize freight costs for the buyers. 

So are the products damaged or do they do that with all returns?  I always assumed that they recycled returns back into their inventory if it was still sellable.