How to double 10k quickly. (In 30 days)

How can you double $10,000 quickly?

You will have to take on extra risk if you’re looking to double $10,000 quickly. Typically, the faster you want returns, the more risk is associated with the investment. You can double your money through swing trading, cryptocurrency, product reselling, real estate, business, IPOs, and finding more clients.

Imagine, turning $10,000 into $20,000 in one month. You’ve got twice as much money in a very short amount of time.

Doubling your money is possible, but very risky.

Luckily for you, I’m going to show you some of the ways you can double your money. I’ll even show you how potential reward is affected by the risk you have to take. At the end of this article, you’ll be able to figure out a way to double or triple your money.

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Risk vs. Return

Typically, the faster you want to double your money, the riskier the investment. Fast returns are appealing to investors, but you are more likely to lose your entire investment. Therefore, you need to find an investment approach that balances risk and reward for doubling your money.

The key takeaway is that you aren’t gambling with your money. Instead, you need to fully understand your investment, the potential risk, and determine if you are willing to take the risk.

For example, anyone can go to the casino and place their money on black at the roulette table. However, there is a near 50% chance you’ll lose your money and a near 50% chance you’ll double it.

As an investor, you want to minimize the chances of losing your money. Technically, you can make a quick buck at the gaming tables, if you’re lucky. Although, I’d like to think we’re a little bit smarter and want to minimize our potential downside.

A safe investor might invest their money into low-cost index funds. The investor knows that they will double their money in a matter of 7 to 10 years. They are patient, but they know they have little risk when it comes to doubling their money.

Remember, the number one rule when it comes to investing is to not lose money. Don’t place your money into anything that’s going to cause you to lose. 

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How to double 10k quickly

In order to double $10,000 quickly, you will have to take on additional risk. Doubling your money quickly it’s not an easy task and requires more volatile investments.  Strategies you can use to double your money include swing trading, cryptocurrency, product reselling, real estate, starting a business, IPOs, and finding new clients.

Let’s take a look at some of the best ways to double your money quickly.

Swing Trading

Swing Trading is a hard skill to learn, but it can be very profitable when done right. You can double your money anywhere from a couple days to a year. As a swing trader, you purchase stocks that have recently taken a hit and wait for them to recover. 

For example, let’s assume Facebook is currently trading at $100 per share. The company received some bad news which caused the price to drop all the way to $60 per share.

You know that the bad news is only temporary. Facebook is still a quality company and they’re not going bankrupt anytime soon. Now is your chance to buy Facebook stock at a premium discount.

Let’s assume that you purchased $10,000 worth of Facebook stock at $60. Over the course of 5 months, the price gradually increases until it reaches its previous high of $100. You sell your shares and pocket a profit of $40 per share or $6,666!

Cryptocurrency

As of lately, cryptocurrency has been making millionaires out of everyday investors.  Cryptocurrency is gaining in popularity and may become a major portion of society. However, cryptocurrency is still relatively new and it may just be a passing fad.

For example, you could have purchased Dogecoin when it was $0.002 per coin. Assuming you sold when Dogecoin hit $0.70, you would have earned $0.698 per coin. A $1,000 investment would have made you $350,000!

The future of Dogecoin is still unknown. If companies like PayPal and Square implement Dogecoin as a major payment option, then Dogecoin could go even higher. Alternatively, Dogecoin could be passed up by something else and be a worthless coin.

The major takeaway is that the people who invested early made the most amount of money. You can make a lot of money by being the first to an investment. 

Amazon or Ebay reselling

Another way to double your money quickly is to resell products on Amazon or Ebay. You can shop the clearance items at your favorite retailers and find good selling items to resell. Purchase these items and list them on Amazon or Ebay for a profit.

For example, you can go to Walmart and check clearance items. You find an item that is selling on clearance for $10. You scan the barcode and can see the same item is selling on Amazon for $20.

Even better, Walmart has 10 of these items on clearance. You purchase all 10 of these items and list them for sale on Amazon.

Amazon will take a portion of your profits because they’re going to charge a fee. Assuming you make $8 profit per item, you can make $80 on this one find.

Not all items are going to be winners. However, Amazon has the ability to sell products very quickly. As someone who has sold on Amazon before, I am amazed at how quickly products can sell.

I have been able to double my money through Retail Arbitrage. 

Flip items on Craigslist

Another way of flipping items is through Craigslist and Facebook Marketplace.You can find great deals on Craigslist, especially the free section. Pick up the items that you find on Craigslist and list them on Facebook Marketplace.

Flipping items from the free section of Craigslist is an immediate return on investment. All you are investing is your time and there is no money required. However, you can find other great deals on the other sections of Craigslist.

Real Estate

Real estate is a proven way of making money, but it has also created a lot of broke people. A lot of individuals have gone into real estate and never made a single cent. However, an investor who crunches the numbers and finds a good deal can make a lot of money.

Ideally, you have enough money to put down a down payment to avoid PMI. However, someone with a good credit score can borrow all the money they need from a bank. Therefore, you don’t need any money to purchase your first real estate deal.

However, let’s assume you invest $20,000 on a property worth $100,000. You can rent the property for $1,000 per month. Assuming $600 goes towards equity and cash flow, you’re earning $6000 per year.

Additionally, your property should appreciate or increase in value. typically, you can expect around 4% appreciation every single year. You can spruce up your property and increase its value as well.

Starting a business

Starting your own business is one of the most difficult, but profitable ways to build wealth. As a business owner, you are creating an additional stream of income with uncapped earning potential.

For example, maybe you want to start your own yard care company. You use your $10,000 to purchase equipment and get your first customers. Now, you have 40 customers paying $35 per week for lawn mowing.

Your new business is now earning $1,400 per week or $72,800 per year.

Buy Initial Public Offerings

Initial public offerings are companies that are new to the stock exchange. These companies have just gone public and need more cash to continue their growth. The share price of the company is extremely volatile and can lead to significant growth with the right company.

For example, Shopify went public for an initial price of $25 per share. Five years later, the share price was $825! A $1,000 investment at IPO price would have made you $33,000.

Advertise and gain clients

You can also spend your $10,000 to advertise your services. When you advertise your services, you can gain more customers. The more customers you have, the quicker you earn more money.

For example, you may be a freelance writer who is earning $35,000 per year. You want to scale your business and take on more clients. Your average client makes you $800 per month. 

You spend some of your money and gain three new clients. At $800 per month average, you’re now earning an extra $2,400 per month.

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Summary: How to double 10k quickly

As you can see, there are many ways to double $10,000 quickly. The faster you want to double your money, the riskier the investment typically is. Therefore, you should only invest in what you know and fully accept the risk of your investment.

Some of the best ways to double your money include:

  • Swing Trading – Buy quality stocks when they’re down. Wait for them to recover.
  • Cryptocurrency – The future of cryptocurrency is still indeterminate. Crypto might become a large part of society or worthless. The majority of people who got in early made the most money.
  • Amazon or Ebay reselling – Buy clearance items and resell them online for profit.
  • Craigslist flipping – Find items on craigslist and flip them on Facebook Marketplace.
  • Real Estate – Buy a property and rent it out. Make money through rent payments, equity building, and home appreciation. Homes naturally appreciate, but you can fix the home up and force appreciation.
  • Starting a business – Not all businesses are successful, but business ownership is the fastest way to build wealth.
  • Initial public offerings – Companies who just went public are very volatile. Some companies are fueled for growth, but most companies will fail at this stage.
  • Advertising for more clients – Use your money to advertise to find more clients. The more clients you have, the more money you can make.