How can I make $300,000?

[rexload]

$1000 a week is only going to be 1/3 of what he's looking for. That's only $52,000 a year.




rexload, to make 300k in 2 years, you're going to need to make about 3k a week, consistently. Are you looking for something to replace your current job, or something to do on the side?

I would say make it a 3 year plan. Take the first year to get yourself positioned to earn, and spend the next two busting your ass to make it happen.

Keep your current job, and do whatever it takes to increase your income there. Say you're making 50k a year there... you're 1/3 of the way to your goal (half if you consider the first year part of the plan).

First, I'd get licensed as a realtor. The market sucks right now, but even a few sales will be a decent chunk of change. Spread the word, hustle, and try to sell other people's listings (you'll still collect a partial commission.)

Next, buy junk cars and part/flip them. You've got your finger in the Honda tuner pot... so use it to your advantage. You know what to look for, you know what to ask for parts, you know what is in demand. You have the experience and tools necessary to take a car apart.
Hell, buy a $200 metal shed, a few $30 shelving units, and a $5 lock.... and you've got storage for all the parts. Catalog them, and put them up for sale online.

Any money you don't need to live or support your business ventures, invest. Invest the majority of it in safe investments. Save only a small portion for high-risk stuff.

I wouldn't be disappointed if it took three years. Right now I am looking for something "on the side". I need more accounting experience for my resume. Plus I need at least a few months to figure out how to make this happen, plan, and do my research/learn.
Getting licensed as a realtor is definitely an idea. I've never thought about it before but I know a few people who are in that business so talking to them would probably be a good start.
The problem with the taking cars apart idea is that I live in an apartment right now. I have a small working area at my parents' but I have absolutely no place to store large car parts and especially a whole vehicle. However, that doesn't mean that I can't do something else with cars. Perhaps I could fabricate something and sell. My fabrication skills are very primitive but once again, with patience and time anything can be improved. The problem with the Honda game though is that there are so many part suppliers, that you have to be either very well-known or be able to sell parts at ebay prices in order to have steady sales. But it doesn't have to be Honda. It will take some brainstorming and creativity to come up with something.
These are all good ideas.

[rexload]

As a sole source of income, no.

As an additional source, it's viable. Build a shed, or rent a storage unit (a shed is cheaper.) Determine towing costs for a certain number of miles, and shop for cars within that radius. Perhaps make a deal with a towing company to use them exclusively. Buy a car, tow it home, strip it in a weekend, store the parts, and sell the shell for scrap (the going rate for scrap shells was $200... not sure if it still is...) If you get the car for $200, and sell the shell for scrap for $200, then the only investment is the towing charge and your time.
Store the parts, catalog them, photograph them, and get hustling on ebay, CL, and the forums. Anything that doesn't sell after a while, trash it or give it away. Keep organized, and everything after the actual stripping of the car should be quick and easy.

It won't make you 300k by itself, but if you really work at it, it could bring in an extra 50-100k in your 2 year time frame.




If you want to earn 300k in 2 years and you don't have the experience or education to warrant a 150k/yr salary (as in, you're not a doctor or a lawyer...) then you're going to have to draw your money from varying sources, and work VERY hard. It's perfectly doable... it just depends on how much you want it.

Suppose I find a place to take cars apart... Where do you get a car with parts that would sell quick (like an Integra for example) for $200 though?
You don't find deals like that very often. The cars that sell for $200 are probably going to be non-running cavaliers and such which don't have any valuable parts.

[ChIoVnIdCa]

Its a little over 400 a day every day.... I could see 200 a day working parting car but 400 would be pretty hard... it would be easier to find a product you can buy at wholesale and sell for a decent profit on ebay and sell a large amount of it..

[deevergote]

Parting cars wouldn't be the whole of it. Just a part. There are practically NO legal jobs that he'll be able to do in his current position that could guarantee that sort of income. The only thing that could do it would be luck... and you can't plan on luck.

As for finding cars... craigslist, ebay, and simply driving around. See a car sitting in someone's driveway with flat tires, covered in dust? Knock on the door and ask if they're selling it. If you get a non-running car for $200-$300, you could make it run and sell it for $1000-$1500, or you could part it out and make that much as well.
The apartment is an issue, though, true.

[mtnbikaah]

don't forget about taxes on said income.

[Gemini]

part time porn while running a chop shop that sells cocaine and ecstasy out the back door

[Grumpys93]

In order to make any money with investments, you need to have a considerable amount of money to invest in the first place.

not true if you start small and invest in a company that isnt big name but think it will take off such as a clothing line or a place of food that is starting to branch out. you could invest say a grand and possibly double that. Then take that that extra grand and put it in another company. so on and so forth. A good number to start investing in is about 10k. Got to start somewhere.

[HondaB18]

Any advice is appreciated. I don't take offense to anything.

Why didn't you or anyone for that matter post in the financial thread when asking for financial advice? I'll answer you there, that is if you want my input.

[HappyGilmore]

"yo, My Sparms Are So Valuable They're Priced Individual-ly!"

Lolz

[rexload]

I'm going to Vegas in three weeks (seriously), should I study the game of craps and try to win some money? Last time I played it, I think we turned $20 into $120 but I never though about trying to play for profit rather than fun.

[AstroVannin]

Im going to go out on a limb and say that the people that are actually capable of executing ANY idea that is going to make them that kind of money are NOT the same people that are asking for that idea on an internet car forum.

[19dabeast85]

Fellow accountant, cool!

How open-minded are you about non traditional business structures? I know of a business you could do part time and easily make $300k+ in the next 2 years with the residual income flowing for a very long time. I have a friend in the business who has the residual income built up to paying him $10k per week for the next 174 years. Another friend has made $3MM over the last 3 years and another is making $400k per year currently after building for 4 years. No joke, all legitimate, all legal. The only thing keeping anyone from success is an open mind and willingness to learn how and devote to it. Most fail because the world doesn't understand commitment anymore.

[mtnbikaah]

Fellow accountant, cool!

How open-minded are you about non traditional business structures? I know of a business you could do part time and easily make $300k+ in the next 2 years with the residual income flowing for a very long time. I have a friend in the business who has the residual income built up to paying him $10k per week for the next 174 years. Another friend has made $3MM over the last 3 years and another is making $400k per year currently after building for 4 years. No joke, all legitimate, all legal. The only thing keeping anyone from success is an open mind and willingness to learn how and devote to it. Most fail because the world doesn't understand commitment anymore.

care to share what these businesses are?

[Ralphie]

Reloaded--

Im suprised no one has asked this -

What/why do you need to have 300k in 2 years?

It sounds like you have a goal for the money...what is it?

[rexload]

Im going to go out on a limb and say that the people that are actually capable of executing ANY idea that is going to make them that kind of money are NOT the same people that are asking for that idea on an internet car forum.

That's probably true but that doesn't mean I can't do some research and become smarter.. I hope lol. Anyway, I decided to ask EVERYONE to get as many ideas as possible - then make a list of all ideas and choose ones that are most realistic.

care to share what these businesses are?

X2.

Reloaded--

Im suprised no one has asked this -

What/why do you need to have 300k in 2 years?

It sounds like you have a goal for the money...what is it?

Feeling of accomplishment plus to go on vacation.