Need help on this calculating for getting an iphone. Thanks

Discussion in 'iPhone' started by mslugx, Jun 23, 2010.

  1. mslugx macrumors member

    Dec 5, 2009
    I am on a tight budget, but i would really like to own an iphone to use. There are a lot of hype about iphone, we can use this opportunity to make some cash. I called ATT and apple store numerous to confirm every little detail and i did some calculation on getting a iphone involving opening a family and cancel it.

    My plan is to open a 4 lines family plan with att and cancel it after one month, taking all the fine in count and the amount i sell the phones for will offset the fine. My calculation is below:

    ETF: 325 * 4 = 1300
    Phone price : 200*4*1.0975(Tax) = 878
    Monthly payment: 99.99 (ATT only allows you to add 5 lines on the 69.99 plan, the lower one only allows 3 lines)
    additional line fee for 2 lines = 20.00 (9.99 each)
    additional data plan for 2 lines: 30.00 (15 each)

    Total cost: 2328.00

    i called apple store twice, they say, they allow customers to buy 4 brand new phones at once if you activating a brand new family plan. With the shortage on iphone 4, it's probably feasible to sell each phone for 850 which will come up to be 3400.00. If you take out the cost of the fines above, the profit would be around 1072.

    Can everybody do me a favor on verify this calculation? did i forget to calculate anything or this plan won't work? Thank you very much and have a nice day.
  2. Rolvag macrumors regular


    Apr 2, 2010

    You think your the only one doing this? Unless you sell the new iPhones within the next week you will be lucky to break even.

  3. Richie3000 macrumors member

    Jun 16, 2009
    what's in it for us?
  4. mslugx thread starter macrumors member

    Dec 5, 2009
    WELL i guess when i don't have a lot of money, i will have to work harder for things i want. But would you please explain why the risk is high?
  5. auero macrumors 65816

    Sep 15, 2006
    I doubt you'll get support from anyone here since you're trying to buy more phones to sell and profit when some won't even get one.
  6. mslugx thread starter macrumors member

    Dec 5, 2009
    I will send you Angelina Jolie's naked pic when it's available? lol... but i mean you got one more person in iArmy.
  7. W8tin4iphone4 macrumors newbie

    Jun 19, 2010
    And if your little scheme doesn't work, guess who is stuck with a family plan each month or at least 4 ETF's? :confused:

    Get a job.
  8. mslugx thread starter macrumors member

    Dec 5, 2009
    People on Macrumors, probably is geek enough to figure out a way, to get their hand on an iphone i think.
  9. bombtrack macrumors member

    Nov 13, 2007
    Hey, are you by any chance logging on from Lagos, NG? ;)
  10. mslugx thread starter macrumors member

    Dec 5, 2009
    4 ETF is already counted in the calculation, and i don't see why they don't allow me to cancel the plan afterward. I have a job, but don't want to shell out money for a full 2 years contract. I am too stingy.
  11. mslugx thread starter macrumors member

    Dec 5, 2009
    nigeria? yeah in fact i am, i am sending people over to purchase the phone to take it back to our country. nah, i jk, i live in so cal.
  12. Rolvag macrumors regular


    Apr 2, 2010
    Risk is high becuase you can loose your initial investment, It could effect your credit rating if the cancelation gets screwed up, maybe Apple will flagg you and your SS# for doing just what you propose to do.

    In my mind there are too many unkowns which makes its risky.

    But GL
  13. mslugx thread starter macrumors member

    Dec 5, 2009
    but the calculation is base on everything that is legal. I am fairly following the rules. why would apple flag me for it tho?
  14. SpankWare macrumors regular

    Mar 9, 2006
    You are on a short budget but you're going to invest $900 on your high risk scheme?

    If that's the case, sure your math is great! Go for it and let us know how much profit you end up with!
  15. tritonj macrumors 6502a

    Jun 12, 2008
    you are barely going to double your money, with such a high investment on your part it isn't worth it. and how tight is your budget really when you can afford to front almost $1000

    also your $850 is probably for $32gb in which case you're looking at $300+tax on each phone not $200
  16. mslugx thread starter macrumors member

    Dec 5, 2009
    that's because the ETF is pay after the first month, by then hopefully i already sold my phones, so i have the fund to covert the ETF.

    The ETF is after i sold the phone after the first month, so i think i should be ok. I just want to get the 16gb, it will still attract buyers to it.
  17. jyu0 macrumors newbie

    Jun 23, 2010
    You will not get $850 anywhere for an iPhone by the time you receive them from AT&T, which will most likely be over a month from now. Beside if you actually do get anywhere near $850, you still have to factor in all the eBay and Paypal fees (close to $100 per phone), which makes your calculations incorrect and highly risky.

    If you already have $900 to invest initially, why don't you just spend the $200 to buy the phone and then do something different to save up the $85 per month service fee. This sounds like a really stupid idea at the moment. Are you really willing to risk your credit history for a phone? If you can't afford it, start saving!
  18. tritonj macrumors 6502a

    Jun 12, 2008

    i wasn't talking about the ETF, at $200 a phone you're going to be at $800 before tax, and then if you are doing ebay you have add fees and if you use paypal then add fees there too

    your initial investment just for product is going to be $800+tax+fees

    and like i said i doubt you'll be getting $850 a phone for the 16gb

    overall for the trouble and risk it the profit isn't worth it
  19. mslugx thread starter macrumors member

    Dec 5, 2009
    I am going to line up for it tonight, so worst case, i don't get any. If i do, then i can start selling it right away. Yes, forgot about ebay fee, and paypal around up to be less than 350, which will be around 650.00 profit, still pretty good for me.

    wondering how am i going to risk my credit history? I am paying all the fee there is, and it's still going to ruin my credit? then i may just as well not pay the ETF then. lol
  20. tritonj macrumors 6502a

    Jun 12, 2008
    so now you're talking about a $1000 investment that could possibly get you 50% return at best. and let's not forget to add the time in line, to the initial investment too

    bad deal
  21. jyu0 macrumors newbie

    Jun 23, 2010
    There is risk to your credit history because you most likely will use a credit card for the purchases. What if you don't get nearly as much for the iphones as you anticipated to cover the initial cost plus the ETF fees? Will you still be able to pay the credit card bill? If the answers is no, then it will affect your credit history. If the answer is yes, then why even bother with such a risky plan.

    If you do not already have reservations for all 5 phones, then you most likely will not get any for a while. AT&T stores will not even sell to anyone without a pre-order until the 29th and stock is usually limited there. If you go to an Apply store, they will have to let everyone with reservations have them first and then start selling to everyone else. It most likely will be alot of waiting tomorrow for very little chance of getting anything.

  22. coasterswim macrumors 6502

    Dec 4, 2008
    I am very interested to see how this ends up. Please keep us posted.
  23. Eddyisgreat macrumors 601

    Oct 24, 2007
    this is dumb.

    Why do you think you can command a premium over buying the phone from a retail outlet? IF you had the phones NOW then you might be able to get near your target amount, but Apple will catch up with demand eventually.

    This smells of those wiiselling soccer moms peddling stockpiled wiis' on ebay with (0) feedback, days after christmas trying to sell them for upgwards of 400+ LOL

    Not knocking the hustle AT ALL, I just don't think this is will be as lucrative as you believe and you might be able to find more profitable ventures if you look hard enough.
  24. KingHuds macrumors 6502

    Aug 2, 2008
    They aren't gonna let you buy 4 phones when you line up, and when you eventually get all 4 phones in a month demand will have died down, nullifying your plan which retarded in the first place, just like all the people pre-selling unlocked iPhones and hoping that it can be jailbroken and unlocked tomorrow.
  25. mslugx thread starter macrumors member

    Dec 5, 2009
    50% return that's a lot for me. normal business return is way less than that. Time in line is something cost free for me since i am doing it myself.

    We will see, that's the thing worries me. what if they sell out tomorrow, but oh well, at least i tried. if i can't get it so be it, just another day, i don't loose anything, except maybe some sleep.

    sure , will do. are you planning to do it too?

    yes, but i am planning to sell the phone for a wee, probably i will make the money, also there is craigslist. Would you please tell me what kind of ventures are more profitable? Thank you very much.

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