What can you do with £5000?

golddustmedia

1 week isn't very long to turn it around but i'd be looking at buying/selling.

If you line various deals up in advance of having the money you should be able to get stock in, pay for it, sell it, pay back £5000 fairly quickly.

If you know what you're doing you could buy a car and sell for profit but this carries the risk of not selling or losing money...

nads

Buy a car that worth more than the sale price and sell it on again. get another one and sell it. get another one and sell it. get another and sell it. get another and sell it. get another and sell it. get another and sell it. get another and sell it. get another and sell it. get another and sell it. get another and sell it. get another and sell it. get another and sell it. get another and sell it. get another and sell it. get another and sell it. just don't f00k up!

rockpeblar

nads wrote:

Buy a car that worth more than the sale price and sell it on again. get another one and sell it. get another one and sell it. get another and sell it. get another and sell it. get another and sell it. get another and sell it. get another and sell it. get another and sell it. get another and sell it. get another and sell it. get another and sell it. get another and sell it. get another and sell it. get another and sell it. get another and sell it. just don't f00k up!

Isn't there a limit to how many you can buy and sell before you have to declare yourself as a trader ?

I've toyed with the idea of doing this but always chicken out worrying about trading standards or the like knocking on the door!!

nads

rockpeblar wrote:

Isn't there a limit to how many you can buy and sell before you have to declare yourself as a trader ?

I've toyed with the idea of doing this but always chicken out worrying about trading standards or the like knocking on the door!!

I've sold about 5, I didn't know that! I suppose if you're makign oodles of money, then you would stick out like a sore thumb. Mine has bene over the space of a couple of years as opposed to 5 in 5 days!

golddustmedia

rockpeblar wrote:

Isn't there a limit to how many you can buy and sell before you have to declare yourself as a trader ?

I've toyed with the idea of doing this but always chicken out worrying about trading standards or the like knocking on the door!!

Well I've owned over 20 cars in about 9 years, though about 16 of those are in a 5 year period. I figure so long as you only own 1 or 2 at a time nobody cares.

ericthekidstoner

golddustmedia wrote:

Well I've owned over 20 cars in about 9 years, though about 16 of those are in a 5 year period. I figure so long as you only own 1 or 2 at a time nobody cares.

I'm no expert but such income/profit/capital gains should be taxable - if asked to be declared of course... the number of cars "traded" will affect the likelihood of you being ask to declare I'd have thought

similar to pro ebayers... the gadget show did an experiment over a month on how to make a profit from ebay... conclusion: rather difficult!

answering the original £5000 question, I think the most feasible thing to do is to trade... a la bargain hunt?