Large investment groups?

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etliquidation
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4 Oct 07 09:04:01 pm
Is anyone trying to get a new investment group together? I am interested if enough people want to.

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jimmy_huber
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6 Oct 07 08:17:19 am
Right now since the current group has just started it will be some time before we get another group going.


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Free Member
etliquidation
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8 Oct 07 01:17:52 pm
How is the current group going? Can another, seperate one not get started? I am just curious and interested.

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pickyourdeal
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16 Oct 07 04:52:03 pm
how does this investment thing work???? Help

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fitzkie
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18 Oct 07 03:02:47 am
I am new to SaleHoo and have spent the past two weeks mainly reading the forums which are amazingly helpful.

I also realized I missed the first investment group. I am very interested in joining the next group.

It sounds like there are others who missed the first one and I would be open to being the next 'jimmy' if he is still working on the first one.

I have owned several businesses and setting up a partnership would be the easy part.

I would prefer to partner with some folks in or near LA, to help with warehouse space, receiving, auctions, shipping, etc.

Please let me know who is interested and live near LA.

Jimmy - what is the best way for some of the members to get together for the second investment group?

Brian Fitzgerald
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jimmy_huber
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18 Oct 07 07:01:51 am
Well as you know it takes trust to form an investment group. So you will have to form a group out of members that trust you. I assume that I was trusted because of my reputation on salehoo. Not my good looks. (Cracks a toothless smile).

As far as the current status of the buyers group we are doing ok. were not making mass money as we expected but were learning as we go. Weve lost money on some pallets and weve made money on some pallets on the truck. But we still have a massive amount of products yet to sell. Not to mention we are buying more stuff as we go.

Right now Im working close to 20 Hours a day just to get things going, and we are still working to get our shipping more automated. I havent had a day off yet since this started. We aquired hundreds of kitchen appliances on our first truckload. And its been tough. We spend alot of time opening boxes and testing units before listing them for sale.

I currently have 4 people that help me when they can and there is still much to be done.

My advise to the next buyers group would be to whoever is the pawn in this group. The person doing the mass amount of the work. That person needs to be able to dedicate ALL of his time to this job. This isnt a quick way to riches for little work. You will be working yourself into the ground. And untill you can afford to hire employees you will be doing everything.

It took me 4 weeks to get all the legalities out of the way and local business registration. I had to sign up for a merchant account and Im always getting calls from my contacts at FedEx. You have to have to know how to manage your finances, register your company, File paperwork, keep track of payments , keep track of listings , keep track of money transfers to your bank, You will have dozens of messages daily from ebay members asking valid to beyond stupid questions. You will have to organize your products, inventory them and pack them into stronger boxes. You will also have to aquire those boxes without spending money as that can kill your profits. I personally goto samsclub every day and get boxes from them for free.

And on top of all that you have to maintain contact with your investment group. Its thier money your working with. And your dealing with many people that have thier own experience. (Listen to them) If they say you should buy a truckload of diapers. You should do it. If you dont heed this warning your investment group will fail.

This is not for lazy people. Right now Im sleeping 3-4 hours a day and working the rest. 7 days a week.
Im Dedicated to making this work. ARE YOU !!!

This wont be a mass money maker. I know that our group will profit. But we have just started and Im not thinking oh were going to make 50k a month anymore. Were thinking 25% to 40% profits on the loads.

The work involved is huge and everything requires your attention. But this is a chance to make very good money , but it wont come without alot of work.

My best advise in this area is if you get an investment group formed, is to listen to your investors. And make decisions with them ,not for them. They are also the ones that can root you on if things seem down.

Right now I think that fudjj is getting geared up to start a second investment group.

Oh btw , our first week of closed listings we have currently closed 120 auctions with bids. Abd we have over 80 more ready to close with bids. Our goal is to close 350 auctions a week. And increase that incrementally.


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dailyhoo222
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18 Oct 07 07:36:27 am
I'm new to Salehoo, too (and missed the last investment group, too). Awesome accomplishment that you all got it going and online so quickly. What is the URL of the site (or EBay store?) you all put together? I'd be curious to see it - could be helpful if another group gets going.

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luckyisle
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19 Oct 07 08:16:06 am
Hi everyone. Just recently signed up with Salehoo and am I just glad I did. Have had a lot of questions for the past months regarding the business and by just reading the forum (which was the first thing I did as I signed up)I got my answers. I noticed everyone was quite helpful especially to the newcomers in the business, most of you going the extra mile to help out. Thanks a lot guys.
And just in case you will go ahead with the 2nd group, count me in. As Jimmy reiterates , doing it in bulk is much better. It is much work but the 'payoff' is good.
Will there be a Canadian group forming too? I do not see many Canadian Salehoo members.

It is

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fitzkie
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20 Oct 07 05:13:15 pm
Toothless Jimmy,

I bought some small lots on liquidation.com that I was going to list, sell, ship from my house, but I ready and willing to put in Jimmy time to this business. I also keep reading that if you want to make real money you need to buy in bulk.

So, I found a great warehouse space in downtown LA that I am going to lease starting next week.

I have the funds, but now I need to know the best places to purchase in bulk and/or liquidation.

Should I focus on liquidators based in CA to save on the shipping? Or should I focus on products I like? Or ones that are selling?

Who are the best bulk sellers in CA that have electronics, computers, sporting goods?

Thanks, Brian

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jimmy_huber
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21 Oct 07 08:22:05 am
Toothless Jimmy,

I bought some small lots on liquidation.com that I was going to list, sell, ship from my house, but I ready and willing to put in Jimmy time to this business. I also keep reading that if you want to make real money you need to buy in bulk.

So, I found a great warehouse space in downtown LA that I am going to lease starting next week.

I have the funds, but now I need to know the best places to purchase in bulk and/or liquidation.

Should I focus on liquidators based in CA to save on the shipping? Or should I focus on products I like? Or ones that are selling?

Who are the best bulk sellers in CA that have electronics, computers, sporting goods?

Thanks, Brian


Yes , If you can buy locally then go for it. Your likely to get better prices and much better on shipping. you should try your local online yellow pages maybe yellowbook.com can help '


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etliquidation
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23 Oct 07 01:13:07 pm
How is the first group doing Jimmy??

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torrks
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4 Nov 07 08:25:42 am
Hi. I've been watching this thread for awhile now and wish the investment group the best.

I'm interested in exploring something similar with one, maybe two, other people. I'm in the process of looking for warehouse space right now. I'm located in Wichita, KS. I was planning on picking up a truck load in Dec. If there are one or two like-minded people out there, perhaps it would be a good idea to join forces.

I'm currently an eBay powerseller and happy to share my experience with anyone interested.

My eBay store is: Link hidden: Login to view

Anyway, if anyone is interested in talking, let me know.

Tom

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