So my assets are located 20% in cash, 10% in jewelery and the rest ~70% is stock. Long term-investments are not on my radar yet as i don`t like waiting more than a week to actually see decent profit.
Jewelry? Do you deal in it?
I would prefer shorter-term transactions to boost my bank account, but it can be time consuming doing the due diligence for those kinds of deals. I'll get there eventually as my time frees up.
As i travel quite a lot, i usually buy jewelery from turkey or rip people off in some shitty -stan country and resell this stuff with a huge margin here in Europe. Also, i work in a bank where i can store some precious metal in form of bracelets and necklaces as an employee. In addition to that, i can also make stock transaction while i am at work, so that`s quite a benefit.
Damn, that's a good set-up. I wish work was more conducive to me doing that. How often do you travel to those places? I'm thinking of starting up more regular travel for myself, and the ability to snag some cash in the process would be nice.
Usually around 6 times a year. But these are business trips.
Yeah the jewelery stuff really pays off. If you intend to do that make sure to not be too greedy and take too much of this stuff with you, as you may get problems with the customs (here it`s 10.000 € max, otherwise you`ll pay huge taxes on the goods).
Once, i got caught by the customs and had to pay a 4 grand fee just to pass...
I was just about to ask about customs. That makes sense.
Do you go to markets, seek these guys out online, stumble across it, etc?
At the beginning, i was looking for jewelery for my now ex-girlfriend in Tehran. I simply wandered the markets and found a lot of really, really cheap stuff. At the beginning i thought it was fake and bought it anyways. Turned out it was real gold and therefore surprisingly made a huge bargain. That's how it started.
Now I already have built up some local contacts who I visit occasionally when I'm there.
Online contacts in these regions are mostly useless and can't provide the amount or quality I need anyways.
And yes, I've got the necklace back from my ex as soon as we broke up
As far as i read, you're looking to make some good money. Got any plans yet?