Doubling $1,000 dollars isn’t a lot of work if that’s what you’re thinking about right now.
And these methods on this list will only work if you already have $1,000 dollars to flip. So the truth remains, there’s no timeframe for this. In other words, you’d be flipping $1,000 dollars in the long run.
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If you want to take the shorter approach, then there are more aggressive ways to go about this. But on this list, you’ll get realistic ways that take some time and generate much more than $1,000 dollars invested.
These are real businesses that you can scale to generate more than $1k in a day, a week or monthly depending on how effective your scaling tactics are.
So with all of that spelled out, here are 11 best ways to double $1,000 dollars in the real world without having to engage in shady schemes or going rogue.
How to Double $1,000 Dollars in 11 Smart Ways
Build a Blog
Starting a blog, you’re definitely going to make tons of money and recoup your capital. It typically costs over $100 bucks to start a blog on Namecheap, and all you need to do next is create meaningful content on your blog. You don’t have to spend any further. Just $100 and focus on content coupled with promotion.
It’s really one of the best online business models, and it’s also one of the best ways to double $1,000 or even quadruple it in a couple of months.
That’s if you’re crazy consistent. Truth is, blogging is a business in the online world and not a hobby any more. So if you want to make money and recoup your capital, then you need to grow it like a business.
To start a blog right now (if you’ve not started), take a route through this guide.
Start Trading Crypto
Even quicker, you can double your $1k dollars just by trading the crypto market. It’s not an easy thing to do and it messes a lot with your emotions, and you’ll need to have self control in order to make the best trading decisions. But then, it’s a great way to flip $1,000 dollars if anyone’s asking.
Before trading crypto, you want to make sure you know exactly what you’re getting into. There’s a gap to cover in knowledge and experience. So you’ll need to learn to trade crypto futures, spot, and other segments of cryptocurrency trading.
Some of the best practices in the world of crypto trading especially in the futures markets is to use a small leverage, and execute your trades with effective risk management as strategies.
Venture into Drop-shipping
Dropshipping is a great business model where you make money selling products you don’t own, you don’t keep or ship.
It’s all about reflecting the database of another store while upping the prices of the products on your own dropshipping store while they remain the same on the store you’re shadowing. Take out some time to get the hang of things around dropshipping before finally launching into it.
This way, you’ll know exactly how to get started and how to emerge on the winning side of the business. When it comes to dropshipping, you’re basically shadowing an online business. A dropshipping store is just a shadow.
Launch a Laundromat
Get clients clothes and perform dry-cleaning on them for profit. With $1,000 dollars, you can set up a laundromat from home and basically run the business until you’re able to make enough money to call it a full-time self-employed job.
While you definitely won’t make or double your $1,000 dollars in a day, it’s a business and hence, patience is a critical factor. Have it in mind that $1,000 dollars won’t get you a fully set up laundromat. To start up a standardized laundromat, you’ll need about $25k. And we’re still talking on a small scale.
Trade Options
Options trading requires more emotional intelligence. It’s a market that messes with your emotions, causing you to trade emotionally and lose everything in the process if you’re not very careful.
So for this reason, trading options is one thing you want to take a lot of time to gain mastery over. It’s one of the quickest ways to double $1,000 dollars, but then it’s high risk and you can trade within seconds.
There’s also trading binary options (which isn’t supported in many countries, they’re traded in regulated exchanges in the United States. Resembling traditional options trading, binary options is a game of win or nothing.
Flip Domain Names & Websites
The concept of flipping domain names and websites is to buy a domain and sell it for a higher price or do the same with a website.
With websites like Flippa, you can easily buy a website, work on it a little more, and resell it for more money. Alternatively, you can get domain names on Sedo.com and resell them for a higher price.
You can also buy domain names on Domain Coasters for incredibly cheap prices and resell them on Flippa.com or Sedo.com to flip $1k.
Or make more money.
Buy and Resell Clothes
Just like flipping furniture, you can buy and sell clothes on Depop.com. There are tons of other websites where you can buy from at a cheap rate and sell them.
In the real world, you can get cheap clothes from flea markets and thrift stores to resell them on Depop, Bonanza or OfferUp. If you have clothes that you’d like to sell yourself, you can list them on any of these services.
Start Amazon FBA
If you’re still wondering how to double $1,000 dollars in the real world, then Amazon FBA (or Fulfillment By Amazon) got you covered.
It’s more like a product arbitrage where you buy products in bulk and cheaply, move them to Amazon, and the billion dollar company handles sales, returns, customer service, and inventory.
You pay for services monthly, but it’ll be nothing compared to what you earn. So on Amazon’s fulfillment program, you buy a product in bulk for a cheap price. Amazon sells them on your behalf for a higher worth. So let’s say you purchase 100 units of a product for $80 dollars, spending a total of $8k.
If Amazon sells them for $95 each, you get to keep a profit of $1k+ after paying fees for the services and drafting other expenditures into the record book.
Run a YouTube Channel
While it’s totally free to start up a YouTube channel, you’ll need to buy video capturing and editing tools to create the most catchy and quality videos ever.
Well, maybe not ever.
But you get the idea.
Before launching a YouTube channel, think about it for a second about what you want the channel to be about. You certainly don’t want it to become a total waste of time. So a little background thought and upfront investment is important. Picking a niche is probably the first thing you want to do.
This will shape the content of your channel and ultimately define your audience. So, stick to a niche or multiple related niches while you strive to create the best video content in that space.
Invest in Stocks
If there’s anything you can do online to double $1k in the long run, is investment in the stock market. I’m sure you’ve heard about the stock market a million times.
To invest in it, you need to work closely with a stock broker or a financial advisor. Invest in penny stocks or trade stocks as a day trader (which could take some time to get the hang of). The best investment is to learn to trade stocks for yourself.
There are other options to double $1,000 dollars in the stock market, but day trading or swing trading is one of the best ways to quickly benefit from fluctuating stock prices.
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Launch a Barbing Salon
It costs some money to set up a barbing salon, but $1,000 should cover the basic costs. A barbing salon can generate upwards of $1k daily depending on what size you’re looking at.
Again, if you want to double your $1k, then you can start this mini and grow it over time. It’s a profitable business that’s also very scalable. Grooming a hair for upwards of $50, you’re definitely going to make $1k+ a month hopefully in your second or third month.
How to Double $1,000 Dollars in 11 Smart Ways – Summary
If you want to flip $1,000 dollars realistically without investing in government treasury bonds or annuities, then you can start a real business online or offline and scale them to generate massive turnovers. Alternatively, you can decide to not scale any business and just grow them slowly, giving yourself a specific goal to achieve on the backbone of consistency.
Some of the best real-world businesses you can start online include a blog where you’re basically blogging for profit from the business side of things, dropshipping, Amazon FBA, and investing in the crypto world (or day-trading it alongside the options market).
In the offline world, you can start up a laundromat, a barbing salon from home (if you can’t shell out $400 for rent), and other businesses I didn’t highlight here. But you get the idea. To make money, you just have to start up something regardless.