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lots of money out there

gunracer1

Collector of fine junk
Joined
May 20, 2020
Member Number
645
Messages
1,022
Loc
azle tx, aguilar co.
i watch auctions every day, everything from farm equipment to cars to real estate. i was hoping to pick some stuff up with the down turn in the economy, buy fawk everything is going higher than giraffe pussy. last year i decided i wanted a m16, and i paid pretty much top dollar for a mint colt. now they are 6k more. 10 year old farm tractors are higher today than when they were new if you took care of them.
 
Not sure how this phenomenon is happening but it's definitely strange.
 
It's Bizarro-land anymore, every time I think things will start to go down in price because the economy is turning sour, they go up even more. I can't make sense of it. I know there's a ton of money out there, but...where? People are obviously buying, but where is all their money coming from? I've concluded that I'm either just really cheap or doing it all wrong. Probably a bit of both, haaa
 
Sounds like you should be selling right now, not buying. Amass the cash, wait for the inevitable garage sale in the near future.


Seriously, the .gov just handed out spending cash to every citizen to "stimulate" the economy. This is a good example of how injecting cash into an economy causes inflation.
 
Your not kidding........ Wife and I just tried to buy a house. Put an offer in $5k over asking and ended up being the first loser. We were then told we would be 2nd in line if the buyer backs out. Got a call yesterday saying I'm no longer 2nd in line because the seller got a better cash offer.

Its ridiculous!
 
clodhopper said:
Sounds like you should be selling right now, not buying. Amass the cash, wait for the inevitable garage sale in the near future.


Seriously, the .gov just handed out spending cash to every citizen to "stimulate" the economy. This is a good example of how injecting cash into an economy causes inflation.
Click to expand...

I see signs the stimulus has been spent. After the checks hit the streets the local polaris dealer was wiped out and of inventory and you couldn’t find a computer in town. If jobs don’t recover soon, it’s going to start getting tough in another month or so.
 
Inflation is coming. A resturant that can only serve 50% of it's previous normal will have to raise it's prices to stay alive. Trucking companies are adding all kids of bullshit fees, like remote deliveries (Lake Havasu City that is 10 miles off the I40 for example). Ammo has gone up in price while availability has gone down. Insurance companies have been giving rebates due to lower miles traveled, but that will change. Hospitals are at max capacity, so they'll have to build more facilities and pay workers more to staff them. The only upside is that your fixed expenses will cost "less", assuming your wages go up as well.
 
Clb said:
Not sure how this phenomenon is happening but it's definitely strange.
Click to expand...

Very simply. There are a lot of fisically conservative people who don't get surveyed and don't store money in banks. The statistics don't seem to acknowledge their saving habits. They have liquid cash and assets that give them credit lines with bankers who know them on a first name basis.

Interest rates are at all time lows while inflation looms in the horizon.
 
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SLOWPOKE693 said:
Your not kidding........ Wife and I just tried to buy a house. Put an offer in $5k over asking and ended up being the first loser. We were then told we would be 2nd in line if the buyer backs out. Got a call yesterday saying I'm no longer 2nd in line because the seller got a better cash offer.

Its ridiculous!
Click to expand...

Fucked up right. Mine was $5k over, and the best offer, they still went with a lower cash offer. My agent was mind fucked, said they have never seen anything like what is going on now. I found another one, and have already prepared myself that it is most likely going to be the same deal.

Hell maybe I should list my backhoe, for the right price I would sell it and pocket a bunch of $$$$
 
Action Fab said:
Very simply. There are a lot of physically conservative people who don't get surveyed and don't store money in banks. The statistics don't seem to acknowledge their saving habits. They have liquid cash and assets that give them credit lines with bankers who know them on a first name basis.

Interest rates are at all time lows while inflation looms in the horizon.
Click to expand...

do you mean "fiscally"? physically conservative = fat, i think :laughing:
 
Clb said:
Not sure how this phenomenon is happening but it's definitely strange.
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I don't understand how nobody gets that there are no deals yet.

You are so hungry to profit off the misfortune of others you don't stop to realize that the government has pumped so much money in the economy companies or individuals aren't hurting.

Calm down you will get your chance to be a fucking carpetbagger. :shaking:
 
Roc Doc said:
Hospitals are at max capacity, so they'll have to build more facilities and pay workers more to staff them.
Click to expand...

Absolutely not the case here. I've had to go to appointments at our largest, only Level 1 Trauma Center hospital in the area, and I don't see it. Parking has never been easier. Hardly anyone walking the halls. Even the Naval hospital is pretty much empty.
 
grumpy356 said:
I don't understand how nobody gets that there are no deals yet.

You are so hungry to profit off the misfortune of others you don't stop to realize that the government has pumped so much money in the economy companies or individuals aren't hurting.

Calm down you will get your chance to be a fucking carpetbagger. :shaking:
Click to expand...


Carpetbagger? Are you kidding me? Gunracer1 is doing is civil duty of holding cash on hand simply to aid a distressed fellow citizen out of a tough spot by purchasing excess assets, helping a fellow become liquid again and able to once more move forward in life. This is a highly regarded social responsibility that too few people really understand anymore. How else would that same misfortunate soul find a way to turn his life around at a point of great upheaval? I say raise a glass to Gunracer1 for keeping a lost art alive and bailing out people in need! :beer::beer::beer::beer:
 
DozerDan82 said:
Fucked up right. Mine was $5k over, and the best offer, they still went with a lower cash offer. My agent was mind fucked, said they have never seen anything like what is going on now. I found another one, and have already prepared myself that it is most likely going to be the same deal.

Hell maybe I should list my backhoe, for the right price I would sell it and pocket a bunch of $$$$
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cash deals means less hassle, no third party needs to approve the financing, home warranty, blah blah blah. an added bonus is that escrow time can be cut in half, if not more.
 
clodhopper said:
Carpetbagger? Are you kidding me? Gunracer1 is doing is civil duty of holding cash on hand simply to aid a distressed fellow citizen out of a tough spot by purchasing excess assets, helping a fellow become liquid again and able to once more move forward in life. This is a highly regarded social responsibility that too few people really understand anymore. How else would that same misfortunate soul find a way to turn his life around at a point of great upheaval? I say raise a glass to Gunracer1 for keeping a lost art alive and bailing out people in need! :beer::beer::beer::beer:
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said every carpetbagger ever.

Do what you gotta do, but be honest with yourself about it.





:stirthepot:
 
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Yeah, hard to compete with cash up front. Even if it's a lower amount.
 
clodhopper said:
Sounds like you should be selling right now, not buying. Amass the cash, wait for the inevitable garage sale in the near future.


Seriously, the .gov just handed out spending cash to every citizen to "stimulate" the economy. This is a good example of how injecting cash into an economy causes inflation.
Click to expand...

Yes the government handed out cash. That cash will inevitably end up in a few people's hands. Those people know that If the government took it from somebody (taxes), amassing cash is great. But, They didn't, they printed it. That means that inflation is coming or allready here. Holding cash is scary. I'm taking offers on a piece of commercial property now. If I sell, I want to dump the cash immediately in another property. I don't want to be holding a chunk of money when it drops to a 1/4 of its value. That's what a lot of people are thinking right now, hence the buying of assets.

As far as a comming economic colapse, that is not for sure. Especially in the US. I think the only way that will happen is if the dollar would lose its "reserve" status. That is a possibility, but there needs to be a replacement and I'm not sure what that would be. Of course there's always gold, but governments don't like it because it can't be printed. I will say that everyone should own at least one ounce of gold. If the world decided to go back on gold, it will be the best investment you will ever make. Of course, if science finds away to turn lead into gold, not so good. Lol.
 
Romogo said:
Absolutely not the case here. I've had to go to appointments at our largest, only Level 1 Trauma Center hospital in the area, and I don't see it. Parking has never been easier. Hardly anyone walking the halls. Even the Naval hospital is pretty much empty.
Click to expand...

But I thought every hospital was packed to the gills with Coronavirus icu patients....:homer:
 
me not spending money till i think something is a good deal is not carpet bagging, it is just good business sense. but i am getting tired of waiting. where is this terrible recession i keep hearing about. i have held off on my delayed gratification long enough.
 
gunracer1 said:
me not spending money till i think something is a good deal is not carpet bagging, it is just good business sense. but i am getting tired of waiting. where is this terrible recession i keep hearing about. i have held off on my delayed gratification long enough.
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2021
 
gunracer1 said:
me not spending money till i think something is a good deal is not carpet bagging, it is just good business sense. but i am getting tired of waiting. where is this terrible recession i keep hearing about. i have held off on my delayed gratification long enough.
Click to expand...

It becomes carpetbagging when you are counting on the downfall of a region and the misfortune of others so you can come in and take advantage of the situation.

That's what carpetbaggers were / did. They were Opportunist.

JUST LIKE YOU ASPIRE TO BE.

And you come on a bulletin board and whine that people aren't desperate enough yet for you to profit.
:confused:

Man, that really is kinda telling, when you think abut it.

:homer:


Don't worry, your time will come to make your deals. (probably around late 2020, after the elections, or early 2021).
 
The purse will open again before the election. There are votes to be bought.
 
grumpy356 said:
It becomes carpetbagging when you are counting on the downfall of a region and the misfortune of others so you can come in and take advantage of the situation.

That's what carpetbaggers were / did. They were Opportunist.

JUST LIKE YOU ASPIRE TO BE.

And you come on a bulletin board and whine that people aren't desperate enough yet for you to profit.
:confused:

Man, that really is kinda telling, when you think abut it.

:homer:


Don't worry, your time will come to make your deals. (probably around late 2020, after the elections, or early 2021).
Click to expand...

Kind of negative arnt we? I always thought of carpetbaggers as politicians. I don't have a negative opinion of an opportunist.

I tell anyone that will listen to not barrow money for anything except real estate. (And don't over barrow on that) That way of living has served me well. I've always kept cash to take advantage of opportunities. I never have been forced to have a "fire sale". I give this advice freely also. Some people don't want to take my advice and often it works out bad for them. At that point, I'm doing them a favor to buy what they are selling. (Even at a reduced price) I don't count on their hardship. I hope the best for them. But I'm not going to close my eyes and ignore logic just because others do.
 
Also keep in mind how much production has been put on hold...a lot of goods are seeing a supply problem which will push people into the used market even if the demand is low, if supply is lower, prices will still rise.
 
I’ve usually bought and sold 30 some odd mowers but this time of year, live auctions have been shut down here for a while and the online auctions have been bringing retail plus prices. I finally got one the other day and felt i over paid, sold it in less than a day for $1000 profit. Ive had people stopping and asking for mowers all spring so its not just me. Live auctions are opening back up this weekend so im curious if things will return to normal or stay weird. Think ill just raise my prices to compensate, Seems like people are willing to pay.

Dont feel like its carpet bagging to buy wholesale and sell retail, Its how sales is supposed to work.
 
Juztyn00 said:
I’ve usually bought and sold 30 some odd mowers but this time of year, live auctions have been shut down here for a while and the online auctions have been bringing retail plus prices. I finally got one the other day and felt i over paid, sold it in less than a day for $1000 profit. Ive had people stopping and asking for mowers all spring so its not just me. Live auctions are opening back up this weekend so im curious if things will return to normal or stay weird. Think ill just raise my prices to compensate, Seems like people are willing to pay.

Dont feel like its carpet bagging to buy wholesale and sell retail, Its how sales is supposed to work.
Click to expand...

Look up Carpetbagger.

Was your business plan to take advantage of someones hardship to profit?
Buying a mower for $100 that some dude got rid of because it was in the way and selling it for cheap? That right place / right time, or the junk business, or something.

Was your business plan to wait until people were in a time of desperation so you could make a profit off their hardship?

Did I take a little leeway in my definition, because carpetbaggers were Yankees coming to the south as opportunist, and ya'll aren't necessarily looking that for from home. Sure, but the mindset / business model holds true.
 
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