FOLLOW UP OF JULY 18th POST

Just as a follow up to my post on July 18th:  I sold the cast iron Dutch oven for 7 times what I paid and the oil lamp for 3.5 times it's purchase price.  So I've already tripled my original investment and still have the antique inlaid tray to sell.  I may put that on eBay, if it doesn't sell in Union this weekend.  It's a nice inlaid wooden tray, but what makes it unique is the decoration under the glass top.  The floral design is made entirely of butterfly and moth wings.

SATURDAY, JULY 21st VERSAILLES MO FLEA MARKET

Had another great day at the flea market in Versailles Mo last Saturday!  However, since they're having their fair this week, we decided to make another trip to the Mason Dixon Line Flea Market in Union Mo..  I'm really looking forward to our second trip there!  We had a great day our first time around and since we're expecting a little cooler weather this weekend, I'm hoping it will be even better this time.  The last time we went, I borrowed my sister's van, which was great for hauling, but not so great on gas.  Since there were several boxes on the first trip that never got unpacked, I decided to make this trip in my Honda Civic and save on gas.  We'll see how that goes?

Medical bills from my latest cardiac surgery have decimated my stock portfolio once again :0( , but if the business keeps growing, I'll be able to replenish it in due time.  In the mean time, I'll be making my regular contributions to my IRA account and reinvesting dividends to buy back stocks I've sold.  The way the market is going, I'm not so sure I wouldn't be better off in the short term to invest in my own business.  Week after week I've been able to turn small amounts into double, triple or quadruple the amounts I've invested!  It may not seem so exciting to turn 25 cents in to $1, but when you're able to do it repeatedly, week after week, it's easy to see what kind of earnings potential this presents! 

MASON DIXON LINE FLEA MARKET

Saturday, July 14th:  Had a great day at the Mason Dixon Line Flea Market in Union Missouri!  Sales were brisk, making for our best day to date!  We decided to visit Union in hopes of reducing some of our expanding inventory and it worked out quite well.  I also went to Versailles Sunday to see how well I could do there.  Did have some sales, but not really worth going every week.  May try a Friday sometime in the near future.  Would like to add an extra day to increase sales and profits if possible. 

Found some great items for this coming weekend at a local rummage sale today.  Bought a nice cast iron dutch oven, a vintage brass and glass oil lamp, inlaid wooden tray and some miscellaneous items.  I expect to at least triple my money on today's purchases.  Got my list of sales ready for tomorrow.  Finding items to sell is all part of the fun!  I guess it's the collector in me, only now I'm buying items to sell, so I'm not overloading my apartment.  Which means I get to enjoy the thrill of the find without the danger of becoming a hoarder, lol.

GOOD SALES WEEK, STOCKS NOT QUITE SO GOOD

Had a great week of sales this week!  Picked up some fantastic merchandise at the rummage sales for my flea market booth, including an entire collection of Coca Cola collectibles.  Sold a nice bedroom bench on Craig's List for a 300% markup!  Had the best week ever in sales at the flea market and they were all very profitable sales.  We've been setting up at the flea market for 5 weeks now and each week the sales have gotten better.  Of course we learn from each week's sales, what items sell best and at what price, so while we're not making the kind of money I'd like to see, we're definitely headed in the right direction.  I'm going today to check out the flea market at Osage Beach to see what kind of setup they have and how much customer traffic.  I'm thinking of going twice a week on Saturdays and Sundays, but I'll have to see if the sales are worth the increased costs of an extra day.  Probably the best thing about this week was the tremendous markup on all the items sold.  I haven't figured out the average markup, but thanks to items like the water purifiers, which I bought for 25 cents each and sold for $7.50 each, I've estimated the average to be well in excess of 200%!  So not only have sales increased, but profits from sales are dramatically higher than in previous weeks.  Right now I'm loving the resale business!

The stock market didn't do so well this past week.  I did negotiate a 50% reduction of my bill with cardiology, so I transferred enough money from my account to pay my bill there.  Collected dividends from RAI, AT and WR and put in an order to buy a stake in PSEC.  PSEC has a $1.22 dividend for a 10.38% yield on their recent stock price of $11.74 per share.  Their price to earnings is 7.0, but they are subject to volatility in price due to frequent stock and debt issues to raise capital, due to the type of business they are in.  Would not be the right fit for some investors portfolios, but I'm willing to take the risk for the potential returns from dividends.

HAPPY 4th OF JULY!

   Wishing everyone a happy and safe 4th of July celebration!!!

HOT WEEKEND, HIGHER SALES

We had an extremely hot weekend, with record breaking temperatures in central Missouri, but sales at my flea market booth increased for the fourth week in a row!  While sales are up and I'm pretty happy about that, I've been looking for ways to improve.  I found a larger market at the Lake of the Ozarks, near Osage Beach Outlet Mall that should provide more customer traffic and better sales.  I'm getting all the details together and will probably set up there either this coming weekend or the next.  Another advantage to the Osage Beach location is the option to set up indoors, so I don't face the problem of getting rained out or too much heat.

My big plans for the 4th of July include attending a big local auction.  I'm hoping to get a deal on some great inventory items for the flea market booth.  While I do miss getting a paycheck on a regular basis, I'm loving the fun and excitement that goes along with the whole resale business.  I've met more new people in the past 4 weeks than I'd met in the past 4 years at my job.  I also love the customer interaction that comes with the business.  When I worked in the restaurants, my interaction with customers was limited and restricted to a great degree, so I'm really enjoying dealing with people on a one on one basis.

Got an appointment with Cardiology today as a follow up on my recent hospital visit.  I've been working on my latest batch of medical bills and today I hope to negotiate a 50% reduction on my bill from cardiology by offering to pay within 30 days.  I plan on withdrawing the money from my IRA and claiming the medical exemption on the 10% tax penalty for early withdrawal.  Even if the IRS denies my exemption, a 10% penalty would still leave me with a 40% overall reduction on my bill.  So I figure the 50% off my bill would be a better return than I would earn if I left the cash invested.  I can always replace the money in my IRA as my new business picks up.