Financing Collectibles for Fun and Profit
With the advent of the internet and especially auction services like those provided by Yahoo and E-bay, serious collectors have much larger arenas in which to buy and sell their wares. This provides the opportunity for quick discovery of hard-to-find items that previously might have taken years to find.
Depending upon the rarity of the collectible and the owner's awareness of its value, prices may range up to thousands of dollars for something of true quality in above average condition. However, there are still bargains being found everyday. A lot of things are being sold for a fraction of their true values simply because the owner wants to free up some space or rid themselves of what they perceive to be unnecessary clutter.
Savvy collectors know, not only the true values of the items that they collect, but also where and how to sell them for a profit. Unfortunately, if the item available costs more than available cash, the opportunity of a lifetime can remain unrealized. The question is: how to prevent this opportunity from being lost forever.
The answer is financing.
To finance something is to make up the difference between cash on hand and the purchase price. Depending upon the price of the item and the time it can take to liquidate it, you may have some options. If you only need a few dollars until pay day, you may be able to borrow short-term money from a relative or friend. If you need a few hundred, you might consider a cash advance on a credit card; especially if the item can be sold before the bill comes due. If you need a few thousand, neither your friends nor your credit card may be willing to accommodate you. You may want to consider a HELOC.
HELOC stands for Home Equity Line of Credit. It is an inexpensive means of borrowing money by accessing equity that you may have in your home. When you have a HELOC you can get money immediately. Interest is reasonable because it is tied to the Prime rate. Payments are low because they are interest only.
Many homeowners find that HELOC rates are considerably lower than the rates of the credit cards, personal loans and second mortgages. However, unlike credit cards and personal loans, the interest paid on a HELOC is often tax deductible (consult your tax advisor).
Given the previously described scenario, having a HELOC would allow you to write a check for items that may cost thousands of dollars. Conceivably, you could turn around and sell them, pay-off the HELOC and make a profit before your first payment becomes due.
If you would like to turn your hobby into something more serious and graduate from seller to "Power Seller" or from hobbiest to entrepreneur, a lack of cash may not be an obstacle. A HELOC could be the key to your success.
Copyright © 2005 Robert E. Jones, Jr.
Robert E. Jones is a Mortgage Loan Officer with years of experience helping homeowners manage their debt.
He is also known as "Mr. HELOC".
Robert has an established reputation as a creative problem solver. He specializes in helping homeowners use their equity and credit to achieve their personal and financial goals and overcome difficult situations.
If you have questions about HELOCs or creative financing, you can contact him by visiting http://www.mrheloc.com
 Google News Updated : Sat, 06 Sep 2008 20:07:30 GMT Stunner - Alex Smith listed as doubtful - San Francisco Chronicle San Francisco Chronicle - The 49ers just called and said quarterback Alex Smith is "doubtful" for tomorrow's season-opener against the visiting Cardinals. 49ers QB Smith doubtful for Sunday Alex Smith injures shoulder, doubtful for Sunday Publ.Date : Sat, 06 Sep 2008 19:20:25 GMT US Jobless Rate Climbs Past 6%, Highest Since ’03 - New York Times New York Times - By LOUIS UCHITELLE The unemployment rate jumped to 6.1 percent in August, its highest level in five years, pushing the troubles of American workers to the center of the political debate as the presidential campaign enters its final weeks. Jobless rate at 5-year high Unemployment, mortgage delinquencies soar in worrisome sign for ... Publ.Date : Sat, 06 Sep 2008 02:04:03 GMT Rejuvenated Federer Overpowers Djokovic to Reach Final - New York Times
New York Times - By LIZ ROBBINS Roger Federer was acing like old times - up the middle, out wide, serving up even more frustration for the snarling Novak Djokovic. Federer tames Djokovic to reach final Federer rolls into another US Open final Publ.Date : Sat, 06 Sep 2008 19:19:52 GMT Obama and McCain to Make Joint Sept. 11 Visit to Ground Zero - Washington Post
Washington Post - By Michael D. Shear COLORADO SPRINGS, Colo. -- John McCain and Barack Obama announced today that they will visit Ground Zero in New York on Thursday to mark the seventh anniversary of the 9-11 attacks that brought down the Twin Towers. McCain's new cast of thousands, all unknown Liking McCain pick, but not McCain Publ.Date : Sat, 06 Sep 2008 17:48:49 GMT Mozilla updates Firefox 3.1 with Alpha 2 build - Computerworld
Computerworld - By Gregg Keizer September 6, 2008 (Computerworld) Mozilla Corp. on Friday launched the second alpha of Firefox 3.1, adding new video support and boosting the speed of some JavaScript computations. Chrome's JavaScript challenge to Silverlight NetSuite Says Chrome-optimized Apps Are Flying Publ.Date : Sat, 06 Sep 2008 19:15:17 GMT Rosetta spacecraft takes asteroid photos - United Press International
United Press International - PARIS, Sept. 6 (UPI) -- The Rosetta spacecraft has captured images of an asteroid in orbit more than 220 million miles from Earth, a European Space Agency official says. European space probe completes asteroid fly by Spacecraft flies by remote asteroid, camera stops Publ.Date : Sat, 06 Sep 2008 19:33:25 GMT A pair of Coens might as well be one at Toronto - Reuters
Reuters - By Janet Guttsman TORONTO (Reuters) - There is a reason they are called the Coen Bros., and not Joel Coen and Ethan Coen: they might as well be one person. Pitt Rocks to Madonna The Coens’ Funny Bones Publ.Date : Sat, 06 Sep 2008 19:13:38 GMT More Web Site Traffic |
PARLOT::Ebooks, Scripts,
Websites, and more... Are your financial muscles well toned and healthy or flabby... Read More The cries are heard from the distance, "I need help... Read More Between 15 - 20% of people in our country (UK)... Read More Are you interested in saving money off your grocery bills?... Read More Sticking to a budget can be difficult, but with so... Read More As the saying goes: "Buyer Beware". If you see ads... Read More If you've been to a shopping mall lately, you've probably... Read More I have been a loyal user of Quicken(R) for more... Read More Frugal living is more than a lifestyle. It's a passion.... Read More Get Access to Realistic profitable strategies & discover the mindset... Read More Holy Shenanigans! More STUFF?Loosing one's business due to lack of... Read More Women have a love/hate relationship with money. Most of us... Read More With interest rates being at an all-time low, I can... Read More Six Scholarship judges were sitting around an oval table. Forms... Read More You no longer look at the pictures of homes cause... Read More Everyone needs to maintain their lives. What I mean by... Read More Things are so expensive these days. We seem to be... Read More Your boss has just informed you that your department is... Read More If You Have an Existing Account and 5 Minutes, You... Read More Vacations Made Easy: Buying a Florida Investment PropertyA relaxing beach... Read More Debt levels are at an all time high in the... Read More Today many women are struggling with debt and it's even... Read More Now that we are in the month of June I... Read More When people speak about the increasing age expectancies, they generally... Read More Many people graduate from college owing thousands of dollars in... Read More
Adsense
websites
Financial Fitness - Are You Exercising the Right Muscles to become Financially Fit?
Help With My Annuity
Whats The Truth Behind Your Finances?
Tips To Save Money At The Supermarket
Budgeting Tips to Save Real Money
Government Grants - Beware of Scams
Banks Are More Than Just A Place To Park Your Money
Do You Really Need the Power of Money Management Software?
Money Saving Tips. Maximize Savings on Everyday Items!
Dramatically Improve Your Stock Trading Success
Strategies for Success
The Wright Place - Finances
Budgeting Before Buying
Reduce College Debt with Scholarships
Personal Loans For Homeowners ? One Of The Numerous Rewards For Being A Homeowner
Why You Should Seek Professional Help With Asset Management
Simple Ways to Save Money
Are You Ready To Be Fired?
How To Place an Online Order for Checks ? It is Easy as 1-2-3
Vacations Made Easy: Buying a Florida Investment Property
Adverse Debt Levels Blight UK Consumers Personal Finances
Budgeting is Essential for a Single Mothers Success
What Are We Teaching our 2005 Graduates about Money?
Is There A Retirement Crisis?
College Expenses: Seven Ways to Save on an Education
Affordable and Reliable Web Hosting Starting at $4.49/Month
Budgeting your Savings - Did You Let Your Piggy Bank Get Away?
I think most of us have at some point in... Read More
Save Your Money, Dont Give to Charity Scammers
**If it's Spam, it's a Scam!- If it sounds too... Read More
Estate Planning Basics
You have probably accomplished a great deal with your life.... Read More
Stretching Your Grocery Dollars
Shopping for groceries is an inevitable fact of our ever... Read More
How To Protect Yourself Against Identity Theft
Identity theft is a serious crime that continues to grow.... Read More
Are You Ready To Be Fired?
Your boss has just informed you that your department is... Read More
Credit Card Debt ? Watch Your Credit Report and Your Bill
Most consumers are aware of the importance of their credit... Read More
University: A Course in Personal Finance
Recent findings from the Educational Policy Institute indicated that the... Read More
Live Green; Save Green!
Have you seen the recent article on a new "green"... Read More
Your Dry Cleaner?s Double Standard
Women are charged more for dry cleaning services. Don't fume,... Read More
Reporting Identity Theft
Would you know what to do if you suspect that... Read More
First Checking Account ? When is it Time?
We all know that money doesn't grow on trees, but... Read More
Kundalini Lessons - Money
I've been going through and interesting growth period lately that... Read More
Take Control and Master Your Kitchen
Those who keep a watchful eye on where their money... Read More
Top 10+ Ways to Jumpstart your New Year?s Finances!
Of course, these don't have to be done in any... Read More
10 Steps To Improve Your Financial Situation
Here are ten steps you can follow to help improve... Read More
Personal Checks ? Extreme Benefits
Millions of people have a checking account and many people... Read More
How To Get Ahead On A Low Income
Do you struggle from week to week trying to make... Read More
What?s New in Checking ? From Designs to Photos
Just about everyone has a checking account. Checks present easy... Read More
Benefits of Personal Finance Software
In this age of information, keeping track of your finances... Read More
Debt Management ? Watch Out for Bank Fees!
During the last twenty years, banks have offered a number... Read More
The Changing Shape of Family Finances
Super-mumsIt seems that the proof of maternal efforts is no... Read More
UK Graduates Looking Short-Term At Their Long-Term Financial Responsibilities
With almost two thirds of university entrants from England and... Read More
Budgeting Before Buying
With interest rates being at an all-time low, I can... Read More
Saving Dimes Can Go a Long Way
On the other hand, there are those people who are... Read More
Personal Finance |