elaborateTook me 28 years to finally figure out what people meant when they said credit cards are supposed to be use as "tools" & the concept of leverage. I now know
#Richby2020
All yall rich coli nikkas step in
To keep it short, instead of using my own money to purchase my inventory i’m going to raise my credit score by paying off my current cards, apply for a few high limit credit cards, use only 1-2k of that to purchase my stock, pay it off with the money I make, and repeat the process.elaborate
Are you going to sell out in time to pay off the cards every month? If not, are you going to earn enough points/cashback to offset the interest you might have to pay?
elaborate
What Silkk said is spot on. This is how a lot of private equity (PE) companies run. LBO (leveraged buy out).
Example:
PE Shop X wants to buy a business called ABC Corp. ABC Corp is valued at 10 million. PE Shop X pursues an LBO to acquire ABC Corp. They'll put up say 20% of their own money and then finance the rest of the deal through debt (8 million). They acquire the ABC Corp and after say 5 years, they sell the company for 14 million. They return the 8 million back to their financiers with interest (say 2 million) Then they share the remaining 4 million. They profit 2 million from the initial investment and have doubled their initial investment.
Simple example.
I make enough to pay them off if need be. I probably wouldn’t really worry about paying it off right away anyway tbh. I expect to have a total of 20-40k in total credit and never plan on using more than 2-3k at a time.
To my coli 1 percenters:
if you're gettin 6 figures or more, what is your career or what do you do to generate income?
whats your education level?
How many certs do you got outside of a diploma?
If u close to 6 figures but not quite there, whats your next move to get over the hill?
Speak on it
First time checking out this thread so let me answer these questions
My career - I work in IT, my primary job title - Product Owner / Lead Application Analyst
Education level - B.S. computer science; M.B.A management information systems
No certs - the degrees take care of that but have the option of picking some up later on thanks to a job perk for a very low cost
wait i have been in this thread... in its infancy lol...so it has been a while...well the company and the job position changed and i make more money
lol
honestly breh.the more money ive made...the less ive cared about getting a new car every couple years...my SUV is paid off..has been for about 5 years...and it still does what i need it..outside of the repairs here and there lolAll that said I still don't feel like I have BMW/Mercedes money. Still pushing the 2010 Honda civic
Yea, you can make beacoup money. You can also lose a lot of money as well.
BushidoBrown
Superstar
IT/comp sci etc is def the field to be in lately.wait i have been in this thread... in its infancy lol...so it has been a while...well the company and the job position changed and i make more money
Not like it ever wasnt the spot to be but it seems to have really emerged to new levels of prestige recently.
I see articles speaking of how data science is the highest paying entry level gig ~95k starting base salary
Kyle C. Barker
Migos VERZUZ Mahalia Jackson
I was looking at job postings the other day and damn near everything was data science relatedIT/comp sci etc is def the field to be in lately.
Not like it ever wasnt the spot to be but it seems to have really emerged to new levels of prestige recently.
I see articles speaking of how data science is the highest paying entry level gig ~95k starting base salary
BushidoBrown
Superstar
coding/tech is the path to financial freedom for the black man
I'm ready to get these certs after work.coding/tech is the path to financial freedom for the black man
