James L. Paris's Blog, page 226

Woman Stops ATM Attack With Key FOB

The picture below is horrifying. I can't imagine my wife, mother, or daughters being grabbed like this.

This attack took place three weeks ago in Melbourne, FL (about an hour south of where I live) at a Bank Of America ATM. The victim was able to get away by pressing the panic button on her vehicle's key fob. I was teaching a martial arts class a couple of weeks back and brought in this story to share with my students. No special martial arts tactics were needed, mace, pepper spray, or even a firearm.  

It is clear that this lady was on her guard and had her remote ready 'just in case.'  Her instincts were spot on, and she escaped the attack. The suspect was caught after being identified from security camera pictures and is being held on $200,000 bond. Please pass along this story to everyone on your Facebook and e mail list - I know it will save lives.

Helping you make the most of God's money!  

  James L. Paris 
Editor-In-Chief ChristianMoney.com
Follow Me on Twitter Twitter.com/jameslparis
Christian Financial Advice 
Jim Paris 24 Hour Radio  

Save Thousands Per Year By Dropping PMI

If you purchased a home in recent years and put less than 20% down, it is almost a certainty that your monthly mortgage payment includes Private Mortgage Insurance. This is not insurance for you, but for the lender in case you default on the loan. I received a question this week from a reader on this topic and did some digging to find out the latest on PMI. In the case of this one reader, they are currently paying more than $400 monthly for PMI on a $400,000 mortgage. PMI typically adds 1.35% to your annual interest rate.  

Many people mistakenly believe that once their home goes up in value enough, their lender will automatically drop the PMI. This almost never happens, and after the 2008 real estate collapse don't expect your lender to be too open to considering it. There was a time when you could simply contact your lender with proof that your home had appreciated enough so that the current loan balance was less than 78% of your home's  value (and the PMI would be dropped).

Today, lenders will use a myriad of excuses to avoid removing the PMI. For most borrowers, the only way to get rid of it (without waiting years until to pay down your balance to 78% of the original purchase price), is to refinance. Many people with PMI don't realize that even if without much of a reduction, getting rid of PMI can be justification for a Refi on its own. In order to avoid PMI on the new loan, your appraisal must be high enough so that your new loan is no more than 80% of the current value (another option that is often used to get rid of PMI is the 80% first mortgage with a 10% second, but excellent credit is needed for a 'piggyback' second).

  Helping you make the most of God's money!  

  James L. Paris 
Editor-In-Chief ChristianMoney.com
Follow Me on Twitter Twitter.com/jameslparis
Christian Financial Advice 
Jim Paris 24 Hour Radio  

Throwing Away Those Old VHS Tapes May Be A Huge Mistake

Many of you know that we are about to launch a new workshop series on buying items offline with the plan of reselling them online for more. One of the most unusual things I have learned so far is the value and demand for VHS tapes. I was discussing this the other day with Bob Yetman and we both laughed as we speculated about who would want VHS tapes. As odd as this market niche is to us, it cannot be denied that there is a demand out there. Box sets are especially popular among collectors (but you should still do a price scan as not all are in demand for a reasonable price). People work VHS tapes in different ways. The guy on the video below only hunts for high value items ($100 and above). Other people take the "buy for a quarter sell for $5 approach..." (which is much easier to do). Of course, an easy way to get started is to sell your own stockpile of VHS tapes (I have a boxes of them that I need to go through). 

I love this video as it shows a great way to know what VHS tapes to look for

 

On a recent scouting trip I made to the Goodwill store I picked up quite a few VHS tapes with plans of reselling them on Amazon. This is one great example of an important category for the use of a scanning app on your smartphone. VHS tapes are really hit or miss, but they are incredibly cheap. I paid about 25 cents for each VHS tape I picked up. Even if the retail value on Amazon is only $4 or $5, you can still do well if you sell enough of them. Also, when you consider how easy it is to box them all up and ship them to Amazon FBA, it is really a no brainer. 

With Amazon handling the shipping for you (and at a much lower cost than you could do on your own), VHS tapes are a great category to work in. Some people scout full time for VHS tapes at garage sales, thrift shops, and flea markets, and do very well. 

 Helping you make the most of God's money!  

  James L. Paris 
Editor-In-Chief ChristianMoney.com
Follow Me on Twitter Twitter.com/jameslparis
Christian Financial Advice 
Jim Paris 24 Hour Radio  

 

Amazon Flipping: Deciding What Items To Sell on eBay Instead

I have now officially entered this strange new world of buying items with the plan of selling them online (for more money). Well, as much as I have made clear that I am not an eBay person, I may have to reconsider that. I was in a Goodwill Store on Friday for about an hour browsing the aisles. Well, I had a huge haul of items for only $38. Most of this will end up on Amazon through my new FBA seller account. There were a few items, however, that are going to be sold on eBay. Why? Well, this is the best platform for collectibles and 'unusual' merchandise. What I am already learning is that you will find great eBay items while you are out scouting for Amazon FBA products. So, why miss out on this money as long as you are already doing the work?

In my case, a couple of the items I picked up to sell on eBay will pay for my entire haul of merchandise. I should end up with more than $100 profit from the collectible type items from this one trip. I was very surprised at how easy it was to use my smartphone to check prices and values as I worked my way through the Goodwill Store. I will also add that it was really a lot of fun. I have not done any retail browsing in years, and find all of this very interesting. I also tripped across a fairly rare Bruce Lee VHS and some other very cool items (some of which I am just keeping for myself).

You Will Also Find A Lot Of Items For Your Own Use

You may be familiar with the picture I use when I am marketing my radio show (see below). I am wearing a suede dress coat that I originally paid $300 for a few years back. I really love this jacket and wear it a lot in the winter months. Well, I found the exact same coat for $7 at Goodwill. This was really weird, and it was my exact size too ( 42 short)!  It fit me perfectly right off the rack and looked like it had never been worn. My wife could not believe that I could have tripped across this! I actually went straight to my closet when I got home to make sure that this was not my own jacket. Who knows, maybe a good storyline for a Twilight Zone episode. 

Amazon Flipping Workshops Scheduled

If you do a Google search for the phrase Amazon arbitrage or retail arbitrage, you will find a ton of websites and courses you can buy. Some of these training programs are ridiculously expensive, and many are outright scams. I want to provide some really great actionable information in an easy to understand format. I also love the idea of us all working together and sharing our own ideas and strategies in a Facebook private group as well. 

I  don't claim to be an expert yet, but I have done a ton of research on it. I will be 100% transparent and share with you exactly how my own sales are going as we embark on this journey together. I also have some very important information to share on the issue of taxes and how to protect yourself from counterfeit merchandise as well. 

I am very excited about the opportunity that this represents for so many of our readers that are looking for creative ways to make extra money online. The tuition to join us is $99, but the first 50 students to sign up can use coupon code JLPFlipCourse and save $50. Click Here To Sign Up Today!

Helping you make the most of God's money! 

  James L. Paris 
Editor-In-Chief ChristianMoney.com
Follow Me on Twitter Twitter.com/jameslparis
Christian Financial Advice 
Jim Paris 24 Hour Radio  

 

Self Published E-Books Make Bestseller List

Digital Book World’s latest bestseller list reveals that there are five self-published ebooks among the top 15, with three of those having recently ascended into the top 10. These authors are fighting it out with such renowned names as James Patterson, Clive Cussler, Bill O’Reilly, and John Grisham for their spots atop the list.

Is there a bestselling ebook lurking inside your brain right now, just waiting to be written? There may well be, but the prospect of enjoying chart-topping sales is by no means the only reason to get started in the world of ebooks; the fact is that there is a variety of reasons why you might do well to begin churning out your own line of ebooks, to include enjoying the credibility and cachet that come with being a published author in your field of expertise, whatever that field might be. If you’re finally ready to get serious about becoming an ebook author, but you think you might benefit from a bit of “hand-holding” as you begin the process, take a look at our e book publishing course. 

Our brand new video is free to members of our eBook Publishing Course

    Robert G. Yetman, Jr.

Managing Editor, The James L. Paris Report

 

Jim Paris Records Christmas Album With Music Legend Pat Boone

Jim Paris was asked to participate in a very unique fundraiser that will benefit Veterans' charities nationwide. The nationally syndicated talk show Coast To Coast AM has just released a new CD titled, Holiday Magic. The unique project includes 18 tracks, all recorded by regular guests of the late night talk show. Among those performing on the album are music legend Pat Boone and talk show host George Noory. Jim's recording is track 9 with his rendition of The Christmas Song (Jim on trumpet accompanied by jazz guitarist Abe Alam). The CD is available for purchase on Amazon.com. 

 

 

Amazon Flipping: A Weird New Way People Are Making Money Online

I have spent the last two weeks researching a concept that I call Amazon Flipping. It all started with an article I read. This led to reading multiple books, articles, blog posts, and then watching dozens of YouTube videos. If you are a regular reader, you know that I am as skeptical as they come. Now that I am convinced that it is completely legit, I feel like a total fool that I didn't discover it sooner. 

What Is Amazon Flipping?

Simply put, you find low priced items to buy and then turn around and sell them at a higher price on Amazon. People are buying a wide array of items (both new and used), and pocketing a quick profit by selling them on Amazon. Some of the popular categories include books, DVDs, music CDs, VHS tapes, board games, electronics, video games, toys, textbooks, and even groceries!

How To Find Items To Flip

This might actually be the strangest part of this whole deal. You can find stuff to sell almost everywhere, including in regular retail stores. If you keep your eyes open while doing your normal shopping, you can find clearance items that are perfect to resell. You can also resell used items just as easily.  But, and this is a really big but... you have to know what items to buy and how much to pay so that you will make money (and I now know the secret formula). The key to the process is to install a bar code scanner on your phone. Grab any product and do a quick scan and you will have the information that you need to know whether to buy it or not. The two primary factors are the going price of the item and the demand. So, for an item to be a wise purchase you must buy it at a low enough price and it must also be a product that has a reasonable demand (so you will be successful selling it). Some stores don't like this and even block the bar codes, but I even learned an easy way around that problem.

  

The first thing that I did after installing the scanner on my phone was to start scanning things right in my home. My office is so cluttered with books, I decided to start scanning the bar codes on some on a stack of books I have been meaning to give to the library. I was shocked when in less than three minutes I discovered that two of the books in this junk stack were worth more than $60 each! What? This was crazy. 

 

The real test, however, was the ability to walk into a retail store and find something that I could buy new off the shelf and make money flipping. I walked into a CVS five minutes from my house with my phone out and scanner app open. In about five minutes I saw a display in the middle of the store with $10 remote control cars on sale. Well, that looked kind of promising - let's give it a scan. The scanner lit up green and told me to buy this item. It showed a solid demand for the product at Amazon and for around $26! I was absolutely stunned.

Where Else Do People Find Stuff To Flip?

Amazon Flippers walk the aisles at Wal-Mart, K-Mart, Target, and just about every big retail name you can think of. They especially love outlet type stores and bargain discounters like Big Lots. They go right to the clearance racks,  bargain book table, and discount DVD bin. 

But the fun does not stop there. The most dedicated flippers will go to thrift stores, garage sales, estate sales, flea markets, and bookstores. Some people are even snapping up deals at grocery stores to sell on Amazon.  

How To Move Up From Playing With Small Marbles

It makes a lot of sense to get started selling items you already have scattered around your house. After that, finding items to sell at retail stores, thrift stores, and garage sales is the way to go. If, however, you want to make the move into really big dollars, you will want to get into wholesale product sourcing. In the example of the RC car I found at CVS, I could contact the manufacturer and potentially buy the item for even less money. Buying from wholesalers takes more money, as usually there are minimums, but you can get deep wholesale discounts by the truckload. 

What Is Bundling?

Another concept that I am absolutely fascinated with is bundling. Bundling allows you to take several items and sell them together as a package deal. This can net you much more money than if the items were sold individually. An example of this would be to package together a baseball, a baseball glove, and a bat. A busy parent might just grab your bundled offering instead of going through the hassle of ordering each item separately. Additionally, since your package deal is unique, there won't be a bunch of other sellers on the screen offering the exact same item (which happens frequently when selling items one at a time). 

Why The Timing Is Perfect To Start Your Retail Flipping Business 

I was sharing all of this with one of my daughters and her immediate response was, "Wow, I bet you could really make money doing that on Black Friday." I had not even thought about it, but she was 1000% right. Black Friday will provide a bonanza of opportunities for Amazon flippers. One of the great things about Black Friday deals is that they are also available online (for those that don't want to fight the crowds).

Why Selling On Amazon Is Not The Same As eBay

OK, a big question I had was how this was any different than selling on eBay. I have written about it before, and I simply don't like selling on eBay. The more I learned about Amazon Flipping, the more it became clear how totally different it is from eBay selling. First, most Amazon buyers are not bottom fishers. They are not necessarily looking for super low prices. Most of them simply enjoy the convenience and reliability of Amazon. I have many times paid a premium for an item on Amazon, because I get the free shipping as a Prime member. It is also more convenient since my credit card is already stored in my account, and I have full confidence in their customer service. If there is a problem with my purchase, I know Amazon will resolve things right away without any drama. The point I am making is that Amazon attracts mostly retail buyers.  

FBA - Fulfilled By Amazon

Probably the most amazing element of all of this is FBA, which stands for Fulfilled By Amazon. Sellers on Amazon can operate like eBay sellers and handle all of their own shipping (buying boxes, standing in line at UPS, this is the part I always hated about selling on eBay). FBA, however, allows you to pack up all of your stuff into a large box and send it to an Amazon warehouse. As your items sell, Amazon handles the packing and fulfillment for you. Not only does this relieve you of the headache of that part of the process, it will end up costing you less than if you shipped on your own. Now, the most interesting benefit of FBA - When you list your items on Amazon through FBA, buyers benefit from Amazon's free and reduced shipping benefits (giving you a huge edge over the competition). By doing your fulfillment through Amazon, you also instantly add their credibility to your product listing. Many buyers consider a product fulfilled by Amazon as no different than a direct purchase from Amazon itself. 

Are You Ready To Become An Amazon Flipper?

Here is what I am doing on this. Over the next two weeks there will be two workshops. The dates are November 18 and November 25. If you can't make the live workshops, you will have immediate access to the replays within 24 hours.  I am also setting up a private Facebook group (only for those that sign up for this training) and I will make available unlimited Q and A for 90 days through my personal e mail account. 

Amazon Flipping Workshops Scheduled

If you do a Google search for the phrase Amazon arbitrage or retail arbitrage, you will find a ton of websites and courses you can buy. Some of these training programs are ridiculously expensive, and many are outright scams. I want to provide some really great actionable information in an easy to understand format. I also love the idea of us all working together and sharing our own ideas and strategies in a Facebook private group as well. 

I  don't claim to be an expert yet, but I have done a ton of research on it. I will be 100% transparent and share with you exactly how my own sales are going as we embark on this journey together. I also have some very important information to share on the issue of taxes and how to protect yourself from counterfeit merchandise as well. 

I am very excited about the opportunity that this represents for so many of our readers that are looking for creative ways to make extra money online. The tuition to join us is $99, but the first 50 students to sign up can use coupon code JLPFlipCourse and save $50. Click Here To Sign Up Today!

Helping you make the most of God's money! 

  James L. Paris 
Editor-In-Chief ChristianMoney.com
Follow Me on Twitter Twitter.com/jameslparis
Christian Financial Advice 
Jim Paris 24 Hour Radio  

Facebook And Your Checkbook - Rachel Cruze Daughter Of Dave Ramsey Joins Jim Paris Live

http://www.christianmoney.com On this episode Rachel Cruze, the daughter of Dave Ramsey joins Jim Paris Live. How to teach your kids about money. How does social media affect our spending? What unique financial challenges do Millennials face today? How to go to college without using student loans, the dangers of credit card debt, and much more.

Mayor Of Ferguson Missouri Has Identity Stolen By Hackers Supporting Michael Brown

http://www.christianmoney.com On this episode - James Knowles, mayor of Ferguson MO has his identity stolen by hackers, Amazon arbitrage and how people are making money online with it, a website that will pay off your student loans, massive meteor in Texas, and the drought in California is so bad that people are stealing water.

Jim, How Can I Make Some Quick Money?

Almost every day I get this one question... it comes in slightly different forms. The background of the person will differ from one case to the next, but it is essentially the same question. Jim, what is the fastest path you can put me on to make some extra money? Of course, if you regularly read this blog you will know that ways to earn extra money is a regular theme of what I write about. 

The other day I made my regular trip to Dunkin' Donuts to pick up a cup of a coffee. The young lady that normally waits on me was not behind the counter, but standing next to me in line. She was not wearing a Dunkin' Donuts uniform either, but scrubs. It took me a couple of seconds to overcome my confusion. I asked her if she was still working for Dunkin' Donuts. She explained that she had a new job as a phlebotomist. She shared that she was making $12 per hour and was on a great new career track (a phlebotomist is someone trained to work in a lab, principally drawing blood). I asked her if she went to college to get certified to do that. She laughed and explained that it only took 3 months to get her certification. Wow, from Dunkin' Donuts to working in a lab and with a starting hourly rate of $12, not bad (and in only 3 months).

I love these stories of people finding new careers and opportunities that involve minimal training. Many people believe that their choices are to either pursue a four year degree or stay in their current rut. There are so many new opportunities out there like this one that only require a few weeks or months of training.

My Favorite Income Generator That Requires Very Minimal Training

If I had to pick just one opportunity that represents both a very good income generator and requires minimal training, it would be website building. In about ten hours of training, you can learn how to build websites. As a website builder, your services will be in immediate demand. You would not believe how many businesses still do not have a website. I even know a guy that simply hands out a few flyers a day that say , "I fix broken websites" and he is incredibly busy. I hear so many times about scenarios where a small business had a website built years ago and their webmaster disappeared. While they don't need a completely new site, they do need it to be updated and a usually a few pages redesigned. 

Even if you don't start a website building business, you will be able to add this to your resume and make this part of the skills that you offer to your employer. You can also volunteer to get involved building or maintaining a website for your church as well!

My Online Training On Website Building

I have hundreds of hours of training available on demand on how to build websites. We also offer several live workshops every month on this topic as well. The registration cost for my training is $149 and then $9.95 monthly (cancel at any time). I want to offer you a weekend special today. If you use coupon code JLP1030 you can join for only $99 (a $50 savings).

I will also include a free microphone headset, a website building account for you to practice on, access to more than 100 videos on website building and design, 500 videos on general Internet marketing, unlimited Q and A support with me personally, access to our 10 monthly workshops, and my three newest videos - How To Start An Internet Talk Show, And How To Develop And Market Information Products, and Profit Surfing.

Get Started Today!

Use Coupon Code JLP1030 To Get This Limited Time Discount

Helping you make the most of God's money! 

  James L. Paris 
Editor-In-Chief ChristianMoney.com
Follow Me on Twitter Twitter.com/jameslparis
Christian Financial Advice 
Jim Paris 24 Hour Radio