Step 20 – (£2560-£5000)
I have started this step with £2608 in cash along with a number of other items – the tables / lamps / mirrors / antiques and pieces of furniture that I have created and I am now going to spend some time concentrating on selling the stock that I have & since one of the issues that I have is a ‘lack of time’ I have decided to outsource as much of the selling process to other individuals or organisations and let them take a commission on the sale price. I am doing it this way as I have decided it is better to have 75% of the sale price rather than have the items hidden away in my lock-up……… So please have a look at upthisway to see some of the items I have for sale & as I add other outlets I will add further links. – I’ll let you know how it goes ….
With the money that I had available I purchased a second hand aluminium scaffold tower for a job that I needed to do for my stone cleaning business. I searched high and low for the exact model tower that I needed and managed to buy it for £890. I used the tower for the job then decided to sell (which was always the intention) – I informed a couple of my contacts that it was available for sale and by splitting it into 2 smaller towers I was able to sell 1 for £800 and the other for £1150 – giving me a profit of £1060. This leaves me with a cash balance of £3668 plus all the other items.
2 further items that I didn’t have to pay anything for (because they were in dreadful condition and needed work on thus adding value) also sold:-
A wood burning stove and a cast iron fireback:-
The Woodburner sold for £129 less selling costs netted £116 & the fireback sold for £110 netting £99 – A total of £228.
This gives an overall total £3896.
And another target is reached 🙂 This afternoon (13 Jan 2017) I agreed a sale (& have the cash in my hand) on some of the other items that I bought when I bought the builders yard. I sold nearly all the roof tiles (see pictures) and this has taken me over the £5000 mark and as the rules of the guide say – anything over what is needed to reach the next step can be spent I am going to treat myself to something (don’t know what as yet) but I am now starting out in 2017 with a pot of cash worth £5000 and since I have now got the bit between my teeth I am eager to get to the £10k mark ……
To see how I achieved step 21 please click here