<p>Hi guys, I made a post about this a while ago in the general "College Admissions forum, but I wanted to raise the issue to a school specific audience.</p>
<p>I'm a high school sophomore. A maybe 6 months ago I came up with an idea for an online business, and have been putting it into action for the past three months now. Basically, I buy very cheap plots of land through obscure (but legit) channels and market them online to rich Britons with money to blow. The exchange rate is great and the profit margin is pretty insane. The plots I buy range anywhere from $50-$150 and I sell them for maybe $1500 a piece. Using my best forecast of sales given data from the past quarter plus the status of my current inventory, I anticipate filing 2008 claiming about $60K of income (knock on wood!).</p>
<p>I'm a decent student. I generally maintain about a 3.3 unweighted GPA in the most intense course levels available (AP and Honors wherever available). Certainly not terrible, but certainly not spectacular either. I think going on the basis of grades alone, NYU would be out of my league, but I'm wondering if this could be a valid hook. I mean, I dont really like talking about money with people in real life, but the few people who do know about it are generally impressed that a full time high school student could turn a $250 initial investment into a pretty decent amount of cash in a relatively short period of time. Maybe the admission folks might find it a little impressive too :)</p>
<p>Basically, my question to you guys is, do you think NYU (specifically Stern) would but much stake in this, or are they the kind of school that has blinders to anything other than GPA, class rank, and SAT scores? I know they dont do interviews, but do you think they provide enough channels to even talk about it? Just any relevant advice or info you guys have would be really appreciated. Dont sugarcoat it!</p>
<p>it doesn't hurt to apply. Stern seems highly selective and GPA and stats do count for a lot as well as EC. But this could be a hook. You just never know what they will be looking for in any given school year. The only problem is any potential financial aid would hinge on your assets and income. I would be careful. You should research this on FinAid</a>! Financial Aid, College Scholarships and Student Loans</p>
<p>no offense, but if you can make the much money in high school, why bother going to college? Read up on some literature of how to run a business, optimize whatever it is you're doing (as shady as it sounds), and make more money. Crap, the richest people i know never went to college. Bill Gates dropped out of harvard. yadda yadda yadda. Make enough money until you can buy a building at your favorite school, and then attend if you really want to. College is a means to an end, and apparently you're getting to your end just fine without college.</p>
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no offense, but if you can make the much money in high school, why bother going to college?
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I think a man would be wise not to put all of his eggs in one basket. What if some relevant law changes down the road or a million other people catch on to my idea and the whole operation falls apart? There I am, 30 years old, nothing to my name but a high school degree and an interesting story from my youth.</p>
<p>Flippin' burgers or pumping gas at $9 an hour.</p>
<p>Besides, I like learning about business. I'm taking a macroeconomics course at a local college right now because I enjoy it.</p>
<p>mzeasy, good for you, but Jack was asking specifically about Stern. It doesn't look like he wants to be a professor when he grows up.</p>
<p>jack, you're not blowing the whole 60K/ a year, are you? I mean, since you probably don't have mortgage (and hopefully not car/insurance) payments, what exactly are you doing with all that money you make? If you're wise, you'll find a managed accounts program that's slightly riskier, but has the potential for some really nice yields (at least 20%). So meh, go to college if you want to, but if I were you, I'd just live well below my means for a few years while making that sort of money. Then you'll be able to pay for your education straight out of pocket. And of course, any business school, graduate or undergrad, will love an entrepreneur who was able to succeed at running a business without any formal training.</p>
<p>I'm not saying you don't have to go to school. I'm saying you don't have to for a year or two after HS, if your business continues to bring you in at least as much cash as it is now.</p>
<p>Even if the operation falls apart when you're 30, hopefully you'll have about 14 years worth of income invested in a good way ;)</p>
Sounds more like a scam than a hook to me. Not a judgement, simply an observation. Anything with a "pretty insane profit margin" either attracts a lot of competition very quickly or requires a lot of time and effort. The OP's characterization of the venture as a means to buy land cheaply and "market [them] online to rich Britons with money to blow" reinforces that impression. Sounds like speculation off the real estate bubble, which is even worse in the UK than in the US.</p>
<p>My admittedly unqualified take is that this will not be a hook in the admissions process, especially if it is presented as described here.</p>
<p>it'd definitely help you. =] and you still have time to pick up your gpa/do well on the sats. but i think nyu's pretty into the extracurricular stuff, so, yeah, it'll probably impress them a bit.</p>
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Anything with a "pretty insane profit margin" either attracts a lot of competition very quickly
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But they would have to know how to do what I'm doing. There is no scam. I buy through legitimate channels and sell through legitimate channels. I operate as an LLC and will pay my taxes when theyre due. Your skepticism is typical of the people I have told in real life though.</p>
<p>I take it as a compliment. ;)
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Sounds like speculation off the real estate bubble
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That assessment would make a little sense two years ago.
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it'd definitely help you. =] and you still have time to pick up your gpa/do well on the sats. but i think nyu's pretty into the extracurricular stuff, so, yeah, it'll probably impress them a bit.