the book I am renting can be sold at $100 each, so I will make $ 1,000
And 4-6 months, when its time to return the books i rented, I will have money then I will buy new books around price 100 and return to them.
Do you think this is better then getting loan, I have bad credit.. That's why I am doing this. This is easy and does not involve bank
I contact to the book renting websites and they told me that it is okay if I send them another book of same version as long as book is in good condition
Don't you think this is better then traditional loan ?? Have this idea came to anybody's mind ???
Your math is a bit off. If you sell 10 books at 100 each, you have gross revenue of 1,000. But it cost you 300 to get your "inventory" (10 books at 30 each), so in effect you end up with only 700 cash for this "emergency".
And you will have that looming payment. What happens if you get to the end of the period and don't have the money to buy the replacement books? And what if you can't sell all 10, or you can't sell them all the first day but it takes you much longer to get them sold?
The numbers just don't work, and technically you are selling property you don't own. Sorry.
Ya, dummies do this. Because what happens is they charge you for the full price. therefore you make zero dollars. And if they don't get their money, then they report theft and then the police come.
You would make a lousy criminal. You would be everyone's girlfriend in prison.
That sounds like a terrible idea.
"I have bad credit." This is not a shock. Thieves often do.
