New To the idea of investing in lego

[LegoNoob!]

Maybe some people could be respectful!     This is not english class.

 

Also thanks for the people who have been helpful so far! 

Edited March 27, 2019 by LegoNoob!

[carini26]

33 minutes ago, LegoNoob! said:

Maybe some people could be respectful!     This is not english class.

 

Also thanks for the people who have been helpful so far! 

Just listen to the advice that's already been offered and read this post by @Phil B

 

Sit back, observe, and absorb.  There is almost never a shortage of buying opportunities.  No need to rush.

 

[$20 on joe vs dan]

10 hours ago, LegoNoob! said:

Maybe some people could be respectful!     This is not english class.

 

Also thanks for the people who have been helpful so far! 

First off proper spelling and grammar show respect to your audience; especially an "older" crowd as here. It's a keyboard/phone so I get it..but try.

2nd; your first post (for lack of a better anology) is like walking into a Costco and asking how many packs of gum you can buy with 50 cents...and I am really amazed at how helpful this community has been for the most part.  For whatever reason you caught us on a "slow week" and even got a few old fogeys to set up their soap boxes (best types of posts to gain pearls of wisdom).  

And I want to 2nd the suggestion to read Phil's post.

Good luck

Edited March 28, 2019 by $20 on joe vs dan

[iahawks550]

In this game you need to spend money to make money. $80 spent wisely now will get you $120-160 by Christmas time.

If you are looking to get more money faster, this isn't for you. There are very few quick flipping opportunities and the window is relatively short.

Any more, if you don't have a computer program to find deals as they pop up, you will probably never even know they existed. Competition has gotten to the point where people aren't as willing to share deals, for obvious reasons. This is a game for people with massive capital (in relation to $80)

[squeakdigital00]

Damn, don't listen to this guy. If it takes him 9 months to make $40-$60 from $80.

Sent from my SM-G955U using Brickpicker Forum mobile app

[iahawks550]

7 minutes ago, squeakdigital00 said:

Damn, don't listen to this guy. If it takes him 9 months to make $40-$60 from $80.

Sent from my SM-G955U using Brickpicker Forum mobile app
 

You should lay out a plan for him and his $80. Tell him what you would buy at this moment. I'd be interested in hearing.

[Pseudoty]

4 more days and mods can change the title of this thread to April Fools 2019. 

[squeakdigital00]

You should lay out a plan for him and his $80. Tell him what you would buy at this moment. I'd be interested in hearing.

You are the one stating $80 wisely spent with the return of $120 to $160.... 9 months away from now at Christmas. Doesn't sound very wise.


Sent from my SM-G955U using Brickpicker Forum mobile app

[iahawks550]

2 minutes ago, squeakdigital00 said:

You are the one stating $80 wisely spent with the return of $120 to $160.... 9 months away from now at Christmas. Doesn't sound very wise.


Sent from my SM-G955U using Brickpicker Forum mobile app
 

50-75% ROI after 9 months. Awful.

Edited March 28, 2019 by iahawks550

[Foreman Porgy]

2 hours ago, iahawks550 said:

In this game you need to spend money to make money. $80 spent wisely now will get you $120-160 by Christmas time.

If you are looking to get more money faster, this isn't for you. There are very few quick flipping opportunities and the window is relatively short.

Any more, if you don't have a computer program to find deals as they pop up, you will probably never even know they existed. Competition has gotten to the point where people aren't as willing to share deals, for obvious reasons. This is a game for people with massive capital (in relation to $80)

What does one consider massive capital? 

[cladner]

6 minutes ago, Foreman Porgy said:

What does one consider massive capital? 

[iahawks550]

48 minutes ago, Foreman Porgy said:

What does one consider massive capital? 

For him, 10x what he currently has in order to afford buying sets with free money.

For those making a living doing it, 500x that amount.

[joch29]

typical lego sets are not a good investment nowadays with the amount of competition today.  Also, it seems like retailers are able to keep LEGO sets in stock longer even after LEGO retires them.  You have to look for the special limited editions/ promos like 40289 and build from there or find some good clearance toys to resell.  It's definitely not as easy as it use to be.  good luck!  You'll know if it's for you once you start...it takes a certain kind of drive to stick with it.

[SpaceFan9]

If I had $80, was primarily a builder/collector, and wanted to test the waters, here's what I would plan:

1. to get the hang of selling: use $40 to acquire minifigs for quick resale.
2. to grow the wealth: bank $40 and wait for a great opportunity to strike

For Part 1, research bricklink to identify quick moving minifigures, and then watch for a sale on the sets they come in.  Bricklink has a stats page (https://www.bricklink.com/catalogStats.asp) where the most commonly sold minifigs are listed.  Picking Harry Potter figs and HP sets, Whomping Willow 75953 is good candidate: the minifigs plus the car and tree are averaging around $58 on bricklink, and it's on perma-sale for $56 at amazon/target. Getting it for $5-10 cheaper is likely possible in the next 2 months. My preference would be to buy two of a cheaper set, and maybe target army-builder packs instead, but this is the basic idea: sell the figs/sub-sets and the remaining bricks are (nearly) free. Minifigs are easy to store and ship, have a good turnover rate, and are a good way to gain experience selling.  And in the off-chance things go south (my own stats are a ~2% return/fraud rate), at least you have some bricks for the trouble.

Part 2 requires patience and luck.  Roughly once a month, a super deal will appear---e.g. LM2 Brickheadz or 70% off at Target clearance.  If you have $40 banked, the super deal can be quick-flipped and doubled with a bit of luck.  Once 'the bank' is a bit higher (~$150) then quick flipping free-gifts-with-purchase becomes a possibility.

Repeat as time allows.

A few important notes:

• Be intentional with your purchases (this goes for more than just LEGO, too).
• Only use cash to build wealth. Using credit-cards/debt to load up on clearance impulse buys is poor way to go.  The interest charges will quickly devour any gains, and you may need to hold poor sellers a long time before seeing any gain.
• Confirm you can sell on your platform of choice before going 'all in'.  I prefer bricklink over ebay, but there are a few requirements to be approved to sell there: https://www.bricklink.com/help.asp?helpID=2440
• Read Phil B's post again.

Good luck!  

 

[redcell]

1 hour ago, iahawks550 said:

For him, 10x what he currently has in order to afford buying sets with free money.

For those making a living doing it, 500x that amount.

You won't be making much of a living with $40k in capital.

[lodibricks]

5 hours ago, squeakdigital00 said:

Damn, don't listen to this guy. If it takes him 9 months to make $40-$60 from $80.

Sent from my SM-G955U using Brickpicker Forum mobile app
 

Wait, sorry, my sarcasm detector is down today.
Are you saying that's not good enough, or that it's unrealistic to appreciate that much so quickly?
Considering these days that a lot of sets I've held for 2+ years are still near MSRP,  I'd be super happy to make $40-60 from $80 in 9 months.

Edited March 28, 2019 by lodibricks
Wrong math

[TargetZero]

all i can say is they is still some lego investement that are very worth it, even at 20% off.. but, you have to find by yourself, cant tell it and dont tell it because it will hurt you.

like one said here, you know about the fight club but no one is talking about it... and it's very true,  no one is talkikng here about what i am talking and it's ok like this!

many knows, many don't, the ones who do keep the mouth shut because they want to keep they gold mine you know

 

it's very very hard for me to teach how to do this to someone, because i learned searched spent many hours on knowledge, and for me it's worth something. 

Woulld be to easy to ask ''for free'' money. 

 

I think the Phil B article is pretty awsome and pretty accurate.

Thing is with lego, you never know, I buy everything i see at 50% offf and more, and some are not really worth it at 50%, but some are rarer, and is selling well, like

avengers tower some lego elves set... ant-man... jurassic world walmart exclusif form 1st batch... you never know but buying at 50% off is a safe investement, you are

about sur to do money.   If a set is super awsome, like the old fishing store, at 20-30% offf i am buying. This set is awsome and everyone would want it. MSRP? no. You always need deals. Always IMO but some set are a safer bet then others. 

Use tool like ebay sold listing, bricklink price guide, check quantities , number of seller...  etc etc etc.. You have to work for the money it's not free at alll

 

 

 

Edited March 28, 2019 by TargetZero

[ravenb99]

my idea of massive capital... those ones raining down from all the fantastic polybag sales!

[Guest TabbyBoy]

The bottom line...

Do you own research.

If everybody knows which gravy train it is, it's likely to hit the buffers.

If you find an incredible bargain (eg. Emmet Brickheadz at 90% off), go all-in and don't tell anybody (except me!).

If there's a lot of competition online and margins are small, move on or be prepared to hold stock long term.

Like most forums, you have to read between the profanities and sarcasm.

Last, but not least... patience and guts!

 

[iahawks550]

1 hour ago, redcell said:

You won't be making much of a living with $40k in capital.

With a full time job on the side. Lol

[Sozial]

Cmon guys, he just cant be serious, it is like asking: I have 5 $ can I trade the dow Jones future?

40$ is even too less to even consider doing it. If you want to earn money: Sell your lego collection and do your research, almost noone here will tell you what to buy, you have to figure out what could possibly work. If that is too much, just leave it and do your normal 9-5 job.

I guess the unpolitness just comes from us guys since we know it is actual WORK to earn money and everyone thinks it is easy as pie. 

[The Builder]

On 3/26/2019 at 11:03 AM, superlegolover said:

Where's The Builder?

Right here. I've been of for a little while because I've been developing my business.

I'm building a website to collect emails and test the market. I'll tell you when I'm launched.

By the way... ITD has changed for the better! At least, that's what I think. LEGO is using another  company called Toy House LLC. ITD is still up, but Toy House is for smaller businesses.

I would probably use Toy House to start. Then if I get big, I'll have to use ITD. Here's their website: https://www.toyhousellc.com/

Thought you guys would want to know I'm still alive.

[The Builder]

I think you guys should think about using it for investing. It's easier than ITD, you just fill out the application, and you get an account! Then a sales rep will talk to you about your business needs.

(IMPORTANT) You have to be a registered business in order to wholesale! Which is why I think it could be good for you guys if your registered. If not, sorry.

[The Builder]

23 hours ago, LegoNoob! said:

Maybe some people could be respectful!     This is not english class. 

 

 

Yes! Please. Finally somebody besides me said something about it!

[terrymc4677]

If I had $80, was primarily a builder/collector, and wanted to test the waters, here's what I would plan:

1. to get the hang of selling: use $40 to acquire minifigs for quick resale.
2. to grow the wealth: bank $40 and wait for a great opportunity to strike

For Part 1, research bricklink to identify quick moving minifigures, and then watch for a sale on the sets they come in.  Bricklink has a stats page (https://www.bricklink.com/catalogStats.asp) where the most commonly sold minifigs are listed.  Picking Harry Potter figs and HP sets, Whomping Willow 75953 is good candidate: the minifigs plus the car and tree are averaging around $58 on bricklink, and it's on perma-sale for $56 at amazon/target. Getting it for $5-10 cheaper is likely possible in the next 2 months. My preference would be to buy two of a cheaper set, and maybe target army-builder packs instead, but this is the basic idea: sell the figs/sub-sets and the remaining bricks are (nearly) free. Minifigs are easy to store and ship, have a good turnover rate, and are a good way to gain experience selling.  And in the off-chance things go south (my own stats are a ~2% return/fraud rate), at least you have some bricks for the trouble.
Part 2 requires patience and luck.  Roughly once a month, a super deal will appear---e.g. LM2 Brickheadz or 70% off at Target clearance.  If you have $40 banked, the super deal can be quick-flipped and doubled with a bit of luck.  Once 'the bank' is a bit higher (~$150) then quick flipping free-gifts-with-purchase becomes a possibility.
Repeat as time allows.
A few important notes:

• Be intentional with your purchases (this goes for more than just LEGO, too).
• Only use cash to build wealth. Using credit-cards/debt to load up on clearance impulse buys is poor way to go.  The interest charges will quickly devour any gains, and you may need to hold poor sellers a long time before seeing any gain.
• Confirm you can sell on your platform of choice before going 'all in'.  I prefer bricklink over ebay, but there are a few requirements to be approved to sell there: https://www.bricklink.com/help.asp?helpID=2440
• Read Phil B's post again.

Good luck!  
 

That’s too much work. I still like my plan of going to the casino and playing one hand of blackjack.