Interesting question, its should bring out all sorts amusing answers and grand tails of riches won. I can tell you this much and hope it will inspire some that understand it. I have lived a very comfortable life using the internet to make money (since 1994). I have done it with NO blackhat methods at all. Now by some peoples measure it would not be considered internet marketing, but by mine it is very much about internet marketing. I profit off of those that suck at marketing and then buy their item, property, house or other thing of value. Improving it or disassembling it (selling off the pieces) and selling it for closer to what it's actually worth. I have had plenty of $5k days and recently years over $500K. I don't focus on heavy volume, I focus on quality of the deal. I learned from a very wealthy mentor years ago that all of your potential profits are made the second you buy something, not the moment you sell it. IE. You bought microsoft for $5, you buy a house for $100k, you buy a boat for $10k, you buy a Harley for $8k. The purchase price alone is not important, it's the fact when you bought these things you had a good idea of what they were worth or what they would be worth shortly (sometimes even the same day). You sell the microsoft some years later at $100, you sell the house for $150k two months later, you sell the boat end of the same year you bought it for $15k (after using it all summer long). You sell the Harley the following spring for $12k (after using it for a season and driving it across the country.
I started off with about $1000 that was grueling to save.
I have provided a nice upper middle class life for my family
I have really used and enjoyed many of my investments before selling them for big profits
I work really hard and enjoy (almost) every minute of it
No bull - I have done literally hundreds of these deals - Find any undervalued asset (sometimes just under advertised/marketed) and find the proper audience and sell it.
I will give a real life example here to help inspire:
I am really into boats. I live in the Great Lakes State and am surrounded by water. I buy a boat (sometimes three or four) every January or February. And I sell a boat almost every 2nd week of August.
Here's Why -
-Boats cost most people a ton of money to buy, store, maintain and use (you think your car sucks gas, try fueling up a boat for a few days of lake fun)
-I don't typically let my hobbies or normal living expenses cost me money (or my houses, motorcycles, rv's, trucks etc.) EVER!!!!!!!!
-If I buy a boat in January the market is very soft (Don't see too many people water skiing in Michigan in January)
-People are often in need of money in the winter and not using their boat and it's an easy time to justify selling it. Christmas bills are piling up, utility bills are more expensive, they don't use the boat that much anyway, there's lots of reasons people can justify in their minds that it's time for the boat to go. (obviously you need to know a thing or two about what your buying before you buy it. Don't be the least educated person at the table when making a deal)
-I will go view the boat, inspect it, almost never start it or run the engine (boats are usually winterized). I will make my assessment of what I am willing to pay considering all the risk I am taking (IE. buying a boat that I have never even driven) and make a cash offer based on my worse case scenario valuation (worse case scenario is you just bought a boat with a bad motor and/or drive train)
-Sometimes I just hold onto it until spring when the market is hot and sell the boat, many many years I keep at least one boat through August and sell it before labor day weekend (the market is dead after labor day)
- I use the boat all summer (about 3 months here of prime summer weather) and even after considering all operating cost of having fun with it make at least $3-4K.
OH NO ! - I bought a lemon, I am in deep crap I am going to lose all of my money !!!
- NOT GOING TO HAPPEN IF YOU BOUGHT AT THE RIGHT PRICE
- Sell it to someone who knows how to fix it - (Break even or profit a little)
- Fix it yourself and still profit
- Part it out and sell it (easier with jet ski's than boats) I have often tripled my money or more parting things out !!!!
I use this same process for houses, motorcycles, RV's, snowmobiles, computers, electronics, guitars and pretty much anything that cost most people money.
I can't stand when things in my life cost me money - I let my lifestyle pay me !
IF YOU ARE SITTING THERE SAYING I CAN'T DO THIS YOU ARE WRONG !
Start with something you interested in - Even if its sewing machines
Use craigslist and ebay to hunt for those things
There are so many opportunities everyday, you need practice and patience to recognize the gold nuggets (value patterns will start to become apparent to you)
Keep watching until you see something you know is undervalued and buy
Remarket it better or to a better more targeted audience or at a better time of year for the item. IE buy boats in the winter and sell in the summer. Buy snowmobiles in the summer and sell in the winter.
WHEN YOU SELL SOMETHING TAKE TIME TO CREATE A REALLY GOOD LISTING - Lots of quality pictures, great descriptions, I can't tell you how much money I have made because peoples listings just suck and nobody wants to buy because they can't get a clear picture of what it is they are buying. I just make a nice listing and resell it for big profits. Most I have made was $4400 in about 4 hrs, by relisting something and marketing it correctly.
Whether you think you can, or think you can't make it online, you are absolutely correct. - Don't be your own worst enemy, you can do this or anything else you put your mind to!
Sorry if this is a little vague, it's been a long night, maybe I should turn it into a course, let me know what you think and I will consider it...
Please give a thumbs up if I got your wheels turning...
Cheers!