Need Advice! New Scrapper with $5k to invest!

Hi all! Love this forum! Well, as stated in headline, I have managed to sweat and save $5k to invest in recycling business. I need advice from some of you who have been at it a while; and some of you who are dealing with new regulations.

My question here is; what is the best way to use a $5k investment to turn a sure profit quickly? I'm concerned that of I spend too much on tools and supplies that it'll take to long to get a return on my investment. And could leave me without adequate operating capital. However, if were to invest in buying some "breakage " to scrap out, I would definately need equipment for processing and hauling scrap. $5k doesn't give me a lot of wiggle room. But it's all I have. I worked my butt off to save this money. I can't afford to lose it.

I also wonder if anyone is actually making descent profit from e-scrap??? I would like input from anyone who is. What would be the best way to set that type of operation up? I'm also thinking about getting into used motor oil recycling? Is it really feasible? Also, should I just open a full blown (small) scrap yard and start buying from public? Please help! Any input is greatly appreciated. Thanks, Arky

Originally Posted by Mick

This exact amount has already been covered: http://www.scrapmetalforum.com/gener...d-you-use.html

try this

thanks Mike. I think that's pretty good advice. Any tips on best places to buy breakage to scrap out (considering current regulations)?

Let me be the first to say....all your questions an then some have been answered friend. The search box will provide you a lot more info from all of us then having one fella try an recall all the info in past threads.

If you can get scrap from it, we've posted about it most likely. Do some digging, an reap the rewards that lay in wait in the archives.

Good luck.

Sirscrapalot - Keeper of the traveling cooler.

thanks Mike. I recall seeing a Guy with trailer load of scrap he was hauling about a month ago. I spotted a huge a/c unit in his load. He hauled it to scrap yard all intact. I guess its like people who pay other people to walk their dog, wash their clothes, buy their groceries for them etc. there's always gonna be ways to profit from other peoples laziness. thanks for advice Mike. and also thanks to sirscrapsalot for your kind response

Why would you spend your hard earned cash on scrap???? I just can't rap my mind around this. Too many questions makes me think you are a newby at this. There is too much free scrap out there to be had. Use this free scrap to learn what your doing and then find your nich. Invest some of that money in some quality tools. Get the word out about what your doing and maybe invest some money in good quality business cards, you'll be surprised at what people will give you just to get it out of their house.