Consolidating Splinterlands Rentals.... Better NOW than later!
I've still got 100s of lower levelled 'scraps' of cards out for rent on Peakmonsters, and many of them are yielding me less than a 30% APR...
I've been dithering about selling them and consolidating them, just because it's not a particularly pleasant task, but I gave myself a good talking to this morning to motivate myself to so sooner rather than later.
You see while a 20 something % APR isn't at all bad, I've got several other cards which are renting out for double that, and more: my highest returning rentals are in fact my 'Amoursmith army - 200 odd cards rented out at a 300- 500% APR....
But there are plenty of other lower levelled cards that are renting out for around the 100% mark too.
I've got around $5 000 worth of lower levelled Splinterlands cards which are earning < 30% APR on the rentals market, so that's yielding me $1500 a year, if I can sell those and get them back on for 60%, that's an additional $1, 500 a year
So one day spent unlisting for rent, selling, waiting, researching the highest rental return cards (although mitigated as I want a range of cards I can use, so I'm going to buy a spread rather than 500 of the same card!) and then buying and re-listing SHOULD end up making me a lot more money....
- an additional 30% APR = $1500 a year or $3 a day
- an additional 60% APR (up to 100, but that's a push) = $3500 a year, or $10 a day.
So one day of pain now, and I start yielding an additional $3 a day. Every day I miss that's $3 down the drain.
That's the thing about passive income, or passive-ish income, you're always better off front-loading with the work (or 'work') because then you have money coming in now....
Better to spend today sorting out rentals, and then when I do my other chores tomo, I'll be earning an additional $3 while I them!
I'm now wondering why I wrote this post BEFORE getting on with the above task, it would have much more sense writing it AFTER!
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