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Turn £1 into £100

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LicensedToTrade

LicensedToTrade

Free Member
Nov 7, 2009
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Suffolk
Don't worry I'm not selling an ebook!

I thought for a bit of fun we could see what UKBF members would do if they were tasked with turning £1 into £100.

So, how would you do it and how long would it take you? You must observe all UK laws including laws against begging and theft/robbery.
 
I actually did something similar a couple of years back, it was back in the days when i didn't have a pot to p**# in, i went and changed a 100 pence for a pound coin, i the proceeded to my local william hill,

I placed my pound coin in the roulette and half hour later after much screen pressing i had accumulated £45 quid, and i had 3 witnesess to that,

I was very impressed with myself, i wouldn't have been able to turn it into a 100 though im not moses. :cool:
 
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Ok Seriously this can be done, although it would take quite a bit of work! There is a car boot about a mile from me where you have to pay to go in by car but you can walk in for free. I would walk around the stalls and find something for £1 that I could sell for more, maybe £5 or £10 or maybe more if I was lucky.
I would then walk round the local estates and find someone to buy the item that I had bought. Then back to the car boot and repeat the process until I have £100. :)
 
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I once had 5 numbers on the lottery for a quid,payout was £1300.

Gutted as you only get one chance if your lucky and I blew mine.

just 1 more number .:eek::D:mad::p

Earl
 
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not quite £1 into £100

But I had often thought about trying this

I will budget myself £5 per week - £1 a day mon to fri

I will go into a casino and place a £1 bet on red/black or high/low or odd/even - something that pays 2/1

I will keep playing for up to 7 spins - only betting on one of the above

if I win all 5 spins, £1 - £2 - £4 - £6 - £16 - £32 - £64 - £128

if i lose - i walk away - having only lost £1

To pay for this, I will limit the cost of the wine I buy to £10 per week (2 £5 bottles) instead of my usual £15 a week (2 £7.50 bottles) (though if I have a winning day, i'll get nicer wine!!)

I only need one winning day every 5 months to pay for the whole venture - any more than that, then i'm up!!

alternatively

with my £1 a day, I will study the form of all the main papers tipsters and where ALL of them agree, I will place an accumulator bet for all those horses

if they all come in, i should be up a nice amount.

If not - then cheaper wine for me!

Would only work if i lived across the road from a casino though, i'm not going out of my way to try this!
 
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crewgirl25a said:
Ok Seriously this can be done, although it would take quite a bit of work! There is a car boot about a mile from me where you have to pay to go in by car but you can walk in for free. I would walk around the stalls and find something for £1 that I could sell for more, maybe £5 or £10 or maybe more if I was lucky.
I would then walk round the local estates and find someone to buy the item that I had bought. Then back to the car boot and repeat the process until I have £100. :)
Click to expand...

Almost the same!!

Bought a postcard for £1 sold it on Ebay for £17.00
Tin from Charity Shop 79p Ebay again (went to US) bought for £27.00.
So long as you keep investing in smaller items (so any loss in minimal) it can be done.

Poppy
 
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was there not a book/film/short story about someone who started with a paperclip or staple and swapped it for something bigger and continually kept swapping up until they had a house?
 
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I would go to the local hardware shop and buy a bucket and a sponge. Im sure you can all guess what comes next.

I would probably have turned the pound into 100 quid before the day was out.
 
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EBA Advisor said:
I would go to the local hardware shop and buy a bucket and a sponge. Im sure you can all guess what comes next.

I would probably have turned the pound into 100 quid before the day was out.
Click to expand...

You don't have the funds to spend so much!

I would buy anything that I could make a noise with from a £1 shop - toy mouth organ, recorder, keyboard, spoons - whatever, and find a busy street to unleash my musical improvisations on.
 
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That "start cleaning windows" thing isn't that easy. I once knew someone who really wanted to do that for a living (he honestly only wanted to be a window cleaner. Go figure), but it took him a *long* time before he started making good money from it.

I think the e-bay idea is a a good way, but kind of breaks the terms of the question. You have to have a net connection which should count as part of your pound.

Going the auction route would be an idea, but very slow, taking into account the seller commission. If you found something that you could take to auction that would sell for more than your pound + commission then you're sorted. But auctions can be hit and miss unless you really know your stuff.

You could try the Mad Harry idea. He basically started by buying a few pens/pencils and sold them individually to people in the street at high mark-up. Re-investing, buying more, until he had enough stock and money to pay for a market stall, then on to shops and eventually a chain of stores. Course, then he over-reached and went bust, but I don't think he did badly up to then ;)
 
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I bought some "Alara" organic muesli recently (well I'm posh innit?) and on the box it said the company was started by a guy, homeless and living in a squat, with £2 he found in the street. They now sell all round the world.
 
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popunder said:
I bought some "Alara" organic muesli recently (well I'm posh innit?) and on the box it said the company was started by a guy, homeless and living in a squat, with £2 he found in the street. They now sell all round the world.
Click to expand...

No, it was not Muesli he first started putting into the packets, it was shredded cardboard, and pidgeon droppings from the squat - the Muesli came later.

Poppy
 
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popunder said:
I bought some "Alara" organic muesli recently (well I'm posh innit?) and on the box it said the company was started by a guy, homeless and living in a squat, with £2 he found in the street. They now sell all round the world.
Click to expand...

Not sure how I feel about buying muesli from a man who up until recently was a tramp. You wouldn't buy needles from a heroin addict would you? :)
 
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A number of ways it would be possible would include; Gambling (if your lucky), Providing a service (Car washing) or a long term investment in shares/stocks! ;)
 
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I have just thought of another way, all I need to do is to ask all my admirers on this forum to send me £1 as an investment into my loan business. I could then invest the hundreds of pounds I would get into loans, and return the money to my investors with say 10% interest. The difference in the interest I would get and the % I would have to pay would easily make £100 and lots more - simples :)
 
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crewgirl25a said:
I have just thought of another way, all I need to do is to ask all my admirers on this forum to send me £1 as an investment into my loan business. I could then invest the hundreds of pounds I would get into loans, and return the money to my investors with say 10% interest. The difference in the interest I would get and the % I would have to pay would easily make £100 and lots more - simples :)
Click to expand...

crewgirl out of interest what is the difference between your cash loans to the way zopa works,? :cool:
 
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How about buy 100 penny sweets, then have a raffle saying "A hundred mystery prizes to be won!"

Then sell raffle tickets for a pound a go, with a hundred prizes the odds are in their favour!
 
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MASSEY said:
crewgirl out of interest what is the difference between your cash loans to the way zopa works,? :cool:
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My loans are 'home collected credit' Zopa's interest rates don't really cut it for me. Virtually all my customers have CCJs, so they would not be eligible for a loan from Zopa. I dont take any investments into my business either (in case anyone asks). :)
 
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crewgirl25a said:
My loans are 'home collected credit' Zopa's interest rates don't really cut it for me. Virtually all my customers have CCJs, so they would not be eligible for a loan from Zopa. I dont take any investments into my business either (in case anyone asks). :)
Click to expand...

oh i see you give it the door step collection to build up a relationship with the borrower in a hope that they don't turn back to their old ways, its a nice idea, Its still risky lending though.

When you say their interest rates dont cut it, you mean they are too low? i think that myself, But what is good about it is you can spread out thousands on a ten pound loan a person basis. But the problem i have heard is more people on zopa want to lend than borrow. :rolleyes:
 
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MASSEY said:
oh i see you give it the door step collection to build up a relationship with the borrower in a hope that they don't turn back to their old ways, its a nice idea, Its still risky lending though.

When you say their interest rates dont cut it, you mean they are too low? i think that myself, But what is good about it is you can spread out thousands on a ten pound loan a person basis. But the problem i have heard is more people on zopa want to lend than borrow. :rolleyes:
Click to expand...

Yes Zopa rates are too low. Its not just a 'nice idea' I have been operating my loan business profitably for many years.
Its not risky at all, all the risks are easily quantifiable, in that 'bad debt' always runs at a known historic percentage within a few decimal points, as long as the operating model of a staged loan policy is implemented.
I also have a very effective customer profiling system and acquisition program that have been developed over many years in the business. :)
 
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