Doubling $10k quickly is one of many things that can drive you massive wealth if you master the process because you’d want to do it over and over to make more money. Now there are ways to make this happen, but they certainly aren’t the get-rich-quick ways to flip money.
To double $10k quickly, you’d first need to invest the money in something just to see how it sprouts and recoups. It’s investing your money for twice of what it was. That’s basically what happens. And this blog post is right for you if you’ve been hunting for realistic ways to make this happen.
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With that said, here are 9 most effective ways to double $10k quickly in the 2020s. And using these doubling strategies, you can double $20k, $30k, or just about any money upwards of $5k. The more money you put into work, the more profit that spills.
How to Double $10k Quickly: 9 Best Ways.
1. Start a wholesale business.
If you want to double $10k quickly, then consider starting a wholesale business. With $10k, you can start this business for about $600 monthly for rent and stuff your store with real products selling at wholesale prices to retailers.
It’s basically a B2B in the offline world, and it’s also scalable because in itself, it attracts retailers. Your target audience however are retailers in this case. And it’s easy to get them to buy from you as they refill their pockets in the process of getting their products cheaper from you, and selling to direct consumers. Starting a business like this means you need to have direct contact with manufacturers and bigger wholesalers.
2. Try the Amazon fulfillment program.
Amazon fulfillment program or FBA by Amazon is a great business to start online if you’re looking to flip $10k quickly for profit. It’s a simple business model and with $10k, you can get started today.
The gains you make will depend on the products you deal in. First of all, Amazon FBA is a program where you buy products and move them to Amazon. The brand sells your products and handles everything else. So, you make a lot of money if you’re able to get the products for a cheaper rate, like 10 to 30 percent off.
Say for example you purchase 300 units of a $30 dollar product and move them to Amazon. That’s a product base worth $9k. If Amazon sells them for $40, you keep a profit of $2k+ after dedicating your expenses.
3. Build a YouTube cash cow.
With $10,000 dollars, you can build and scale a YouTube channel by automating content production processes. This is a process known to be building a cash cow basically because you outsource the process of making videos to freelancers and you’re never in front of the camera.
It doesn’t take a long time for YouTube channels running on automation to make money. It happens typically in 3 to 6 months of consistent work. And $10k can handle the entire process. Even $5k can.
So basically, you need to pick a niche, get familiar with the procedures involved in building a cash cow, rinse and repeat the process. The good thing about building a YouTube cash cow is that you can create as many as you can handle. With an investment or capital of $10k dollars, then you can steadily finance the running and automation of multiple cash cows for several months.
The best niche to create a cash cow in include entrepreneurship, wealth, money, entertainment, and business. YouTube cash cows will flourish in many other niches, but then these niches record a higher chance of making viral YouTube cash cows boom in views.
4. Scale a blog.
You want to double $10,000. That’s great. I totally get it. And it can happen by scaling a blog. After launching the blog, you outsource content writing to freelance writers while you throw them a bunch of keywords to write about, you pay for genuine links, which is a link scheme Google doesn’t really endorse but these authors will naturally link to you just because you solicited by cash.
You can do this and build a brand out of a new blog in a couple of months. It’s a lot of spending, but it’ll be worth it in the end. And it’s a great way to more than double your $10k dollars.
So if you want to double $10k dollars quickly, you can start up a blog, outsource content writing to other writers who’ll do it better for less of an amount, build links by outsourcing guest articles to writers, create masterpiece contents around high search volume keywords, create killer contents around high search volume affiliate products, dominate an industry, build and sell your own products.
5. Start trading options.
Options trading is one of the few things you can do to double $10,000 quickly. Trading the options market, you need to be emotionally intelligent and exercise a high level of restraint. It’s emotionally taunting, and if you’re not careful it could make you look like a complete beginner even if you’ve got 15 years of trading experience.
That said, you can make tons of money and quickly double $10k by learning to trade the options market and trading it profitably. If you don’t learn to trade the options market, then you’re up for throwing your $10k away for free.
6. Day trade crypto futures.
Just like options trading, risks flood the crypto futures market. But if you’re careful enough, you can make $10k quickly with a $10k capital typically in 30 days of trading without incurring unbelievable losses. You may need to undergo a learning streak to come on top on this one and really dig the futures trading market. While it’s a profitable deal, a liquidation alert is not something anybody wants to wake up to.
When it comes to trading the crypto futures market, you want to take risk management into consideration and maybe prioritize it. It’s really one of the best ways to execute your trades; with a working risk management technique in place.
7. Flip websites.
Flipping websites can get you to $20k from $10k, but it doesn’t happen overnight. It could take a few weeks to make this happen especially if you’re good at polishing websites into the best version of what they were.
The idea behind this is to buy a website on Flippa.com, and resell it after working on it. Alternatively, you can perform a simple google search to see who’s selling their website on Craigslist or other platforms.
If it’s worth buying, has good Ahrefs or Moz metrics, has a good stand with Adsense, then you can buy it. Working on it for some weeks or even days of aggressive quality building can get the valuation of the website up in numbers.
8. Buy a car for ride-sharing & delivery services.
Ride-sharing is a great idea to double your money. With $10k, you don’t have to spend everything or invest everything in this case. You can get a car for under $3,000 dollars and sign up with Uber to take trips around your city.
In two or three weeks, you should recoup your capital and generate up to $7k in profit depending on your definition of “quickly”. But if you’re not in haste, then 2 months is a proper maturation time frame to double $10k with Uber driving.
So, ride-sharing is one of the things you can do with your car to double $10k quickly, but there are other things like delivering items around your city for services like Instacart, Doordash, and Amazon Flex. These services pay you per hour, up to $18 dollars to deliver items.
9. Flip items and services online.
From clothes to furniture, you can flip just about anything online. This works like this, you take a visit to thrift stores and flea markets to see what’s up for sale and to see how much you can get for them. With $10k dollars, you can get enough items from flea stores, thrift markets, and even online marketplaces that you can resell to get more than twice the initial capital.
You buy them, work on them (if they’re fixable), and then list them on websites like OfferUp, Depop, Etsy, or Bonanza for a lot more money. Ideally, a lot of people make a lot of money from this, so much so that it’s their full-time job.
How to Double $10k Quickly: 9 Best Ways – Final Words.
If you’re still wondering how to double $10k fast, then you can do this by scaling an online business like dropshipping, working with Uber, flipping websites, flipping items online after buying them from flea markets or thrift stores, trading options and futures, building a YouTube channel, or launching an wholesale B2B business offline.
You can also flip $10k fast by scaling a blog and monetizing it while driving loads of traffic to it through ads. There are quicker ways to double money, but these are some of the best ways to quickly double $10k or $20k+ in the real-world. Speaking of doubling money, did you know you can flip or double yours in 24 hours?