I am jumping head first.

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I am out of a job currently I am in a $8k debt and I have $5,500 cash on me.

I know it will take me 6 to 12 months to land a real job. So I am thinking in renting a warehouse for $500/M! and spending ALL my cash in stores Arbitrage and resealing on Amazon. I will get any any kind of job so I can pay out my child support and cover my rent.

My friend is saying that I should invest only $500 no more but I think $500 worth of products might take 2 or 3 months to return back and better to start big with many different products?

Please advice me about store arbitrage and Amazon fulfillment. Should I do the fulfillment on my own since i will have my own warehouse? The reason I like doing the Fulfillment on my own is that I can return the products that did not sell to the store and return my money quick?
Any advice in resourcing products or how I should use my money?
#head #jumping
  • Profile picture of the author NetMan
    If you want to go through the fulfillment route by yourself you will eventually need much more than what you have on hand in cash to cope with inventory to fulfill your orders. You should start with drop shipping and/or affiliates store, that will allow you to wet your feet and start with relatively low need for cash.
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  • Profile picture of the author Mark Singletary
    I've got a couple questions hopefully that will help - that is my intent.

    When you were posting several months ago, you were already out of work for several months then. Is getting a job your goal or not? If it's not and you aren't trying then don't keep mentioning how long it will take you to get a job because that sounds like either an excuse and/or rationalization to do the online route. If it is your goal then why is it taking so long?

    What happened to your local directory idea you had worked for a long time on? Is it dead? Did you give it an honest chance? Are you playing the shiny object game?

    So now you want to spend ALL your cash on something totally unproven. If you spend all your cash on inventory, who is going to pay the warehouse rent going forward or are you thinking you are going to get a big and instant payday? What about your living expenses?

    It sounds to me that you are still desperate - like you were several months ago - and I'm afraid that you are going down a slippery slope here - grasping at straws. Coming from a point of desperation isn't the best situation for most people to make decisions like this but it works for some.

    I'm not trying to be negative or point fingers or anything. I'm asking these questions because I've been there, done that and know how the whole desperate thing works and I know what got me out of that state.

    Mark
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  • Profile picture of the author kimanierick
    dont be desperate or should I say greedy. Before investing in anything, make sure you understand the area well or should have someone to guide you well. I f you have not done this before, dont spend all your money there as you are not sure how it will convert. just test the waters by starting with something small and see how it responds before adding up the rest. I wish all the best
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  • Profile picture of the author AZakaria
    Thanks Netman, kimanierick. Thanks Mark and answering your questions:

    About my post several months ago, I ended up putting the directory completely away, I did TONS of freelance work and print materials for 3 hotels, a restaurant and a bar and I made very very decent money and learned a lot about hospitality. Until just 2 weeks ago, I lost my clients. All of them. Because all the hotels and business I mentioned above was owned by the same guy and we had a major disagreement and I quite working for him but I only do web sites maintenance to him not real income.

    Regarding your question about how long it will take me to find a job, it will take for ever. In the past 10 months, I have been to about 12 or 14 companies for interviews, I make it through 1st, 2nd, 3rd interview then I don't hear back from them. Never cut it to the final so I am disappointed about that and know it will take time to land a job.

    When I said I will spend all my money in inventory, I meant I will spent about $3500 on inventory and save the rest for rent. I was going to get a minimum wage job also for flowing money.

    Yes Mark you are right, I am still in a bad situation and unstable disparate kind of but in a better position now than 6 or 7 months ago. Also I should have mentioned that I am receiving monthly payments from the guy I worked for before. He owes me $2000. So I basically have $7,500 cash and in debt for $8k.

    My goal is to start my business not to find a job anyway.
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  • Profile picture of the author violet0176
    Originally Posted by AZakaria View Post

    I am out of a job currently I am in a $8k debt and I have $5,500 cash on me.

    I know it will take me 6 to 12 months to land a real job. So I am thinking in renting a warehouse for $500/M! and spending ALL my cash in stores Arbitrage and resealing on Amazon. I will get any any kind of job so I can pay out my child support and cover my rent.

    My friend is saying that I should invest only $500 no more but I think $500 worth of products might take 2 or 3 months to return back and better to start big with many different products?

    Please advice me about store arbitrage and Amazon fulfillment. Should I do the fulfillment on my own since i will have my own warehouse? The reason I like doing the Fulfillment on my own is that I can return the products that did not sell to the store and return my money quick?
    Any advice in resourcing products or how I should use my money?
    If you owe child support, your goal should be to find any job ASAP, even if it's at McDonalds. You can start a business in your spare time.
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  • Profile picture of the author AZakaria
    No I don't owe child support. never did. So off subject.

    I am looking for advice for products I should start with, amounts of each item, places to go to for good prices, or a book to read....
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  • Profile picture of the author violet0176
    Originally Posted by AZakaria View Post

    I will get any any kind of job so I can pay out my child support and cover my rent.

    Did you forget that line or what?
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  • Profile picture of the author AZakaria
    I pay child support on time and i don't own any late child support. I said that I will get any kind of job so I can continue paying child support.
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    • Profile picture of the author GlobeSpan
      Why doesn't someone just delete this thread?
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