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My 2012 “Investment Project”

January 22, 2012

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On Wednesday I addressed one of the five Collecting goals and objectives I have set for 2012 by introducing my newest collecting project.

Today it is time to tackle one of my five “Business” goals for the year, which is to start and closely monitor an “investment project”.

The idea for this goal came about as an extension of a goal I felt that I had achieved in 2011.  That goal was to buy only what I need for my specific projects or what will benefit me financially by flipping items through my eBay Store.

I am a bargain hunter by nature and I spend a great deal of time looking for items at card shows and online that I can add to project-related purchases in an effort to get a little better bang for my buck.

While I was definitely careful to buy only items that fit that description in 2011, what I was not doing a good job of was actually tracking whether or not those “flip” purchases were ever even resold, let alone whether or not they were financially beneficial.

I have no doubt that overall I was successful, but that is merely an opinion rather than something I can quickly and easily back up with facts.

Following a successful bunch of flips from what I purchased at the Fall 2011 Toronto Sports Card and Memorabilia Expo, I decided that it was time for that to change.

So for 2012, one of my major objectives is to finally force myself to monitor these types of purchases carefully and determine if I am actually as good at spotting potentially profitable bargains as my recent flips might lead me to believe.

The parameters of the project are pretty simple:

  • I have given myself a budget of $250 for the year.
  • Any cards or memorabilia that I buy over the course of 2012 that do not involve removing an item from my want lists will be deducted from this amount.
  • I must track each purchase, listing, and (hopefully) sale in a spreadsheet to monitor profits or losses.
  • I must list each item on eBay (either in an auction or in my eBay Store) within 14 days of it arriving at my home.
  • I cannot run a deficit.  In other words, I cannot drain the account to zero because there are fees to list on eBay and I would have no money in the account to cover those costs.
  • I must post an update on my progress at the end of each month in my summary articles.

The only real target I will be setting for this project in 2012 is to be profitable.  Whether the return is 100% or 1%, I will be happy with any sort of profitable result come December 31st.

We’ll see how things turn out by then, but in the meantime be sure to look for the first update on my progress in just a week’s time.

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Do you have a similar project on the go right now?  How do you track and monitor you transactions?  Have you been successful in turning a profit?

Let me know by posting a comment, emailing me at bb_bros@hotmail.com, or by connecting on Facebook or Twitter.

Until Wednesday, all the best in your collecting pursuits!

Ryan

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