How to turn 10k into 100k quickly

How can you turn $10k into $100k quickly?

In order to turn $10,000 into $100,000, you must think of your $10,000 as an investment. You can invest in assets, your business, or in products to flip for profit. For example, you can invest in real estate, initial public offerings, finding more clients, or flipping products on Amazon.

Imagine, earning your first $100,000 before you turn 30. There is nothing stopping you from making $1,000,000 if you can make $100,000.

Reaching your first $100,000 is the hardest thing to do when it comes to investing.

Luckily for you, I’m going to show you that it is possible to turn $10,000 into $100,000. I’ll even show you some examples of how you can turn 10k into 100k. There are plenty of ways to multiply your money, but you only need one method.

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Can you turn 10k into 100k?

It is possible to turn $10,000 into $100,000. Simply investing $10,000 into an investment that yields an 8% return would turn into $100,000 in 29 years. You can achieve results faster by increasing your initial investment or finding a higher yielding investment.

As you can imagine, the only factors that matter are how much you invest and your returns over time. Higher-yielding investments often carry more risk and we only have so much money to invest. Therefore, it is important to balance your risk and investment capital to meet your needs.

Let’s assume that you don’t want to wait 29 years to reach $100,000 from your initial $10K investment. You need to find more money or a better investment.

So let’s assume that you’re now starting with a $20,000 investment. Now it is going to take you 21 years to reach $100,000 at 8% return on investment.

However, a lot of us can’t make cash appear out of thin air. You might need to find a higher yielding investment.

Now let’s assume that you’re investing $10,000 at a 12% return on investment.You will now reach $100,000 in 20 years. 

I’m going to show you some higher yielding investments to help reduce the timeline and multiply your money quickly. Remember, the higher-yielding the investment is, the more riskier it can be. Higher-yielding investments often take more of your effort, but they often provide higher rewards.

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How can I turn 10k into 100k?

In order to turn $10,000 into $100,000, you need to focus on higher-yielding investments. You can invest in assets, your business, or in flipping products for profit. For example, you can invest in real estate, initial public offerings, finding more clients, or flipping products on Amazon.

There are plenty of ways to multiply your money. However, you should focus on one strategy and become good at it before adding another.

People tend to have focus issues, often referred to as shiny object syndrome. You never really get anywhere when you’re trying to do three different side hustles all at once. Spend your time getting good at multiplying your money in one area before moving on to the next.

Remember, most millionaires got rich by doing one thing and doing it well. It is only after millionaires get rich do they often diversify.

Invest in Real Estate

Investing in real estate has shown to get better returns than the stock market. As a real estate investor, you receive cash flow from rent payments and gains through home appreciation. Depending on the market, you can sell the property later for a substantial profit. 

For example, you could purchase a rental property for $0. Your bank lent you money in order to purchase the property. Ideally, you would have a downpayment to avoid PMI, but it isn’t a requirement.

The most important thing is that you’ve determined the property will have cash flow. You don’t want to lose money on a property every month. You have done your due diligence and you’ve accounted for repairs and maintenance of the property.

Investment Example

Let’s assume the property was purchased for $100,000. You use your $10,000 to spruce the  property up, so the property is now worth $130,000. This concept is known as forced appreciation.

Homes normally appreciate around 4% per year. So by the end of the first year your home value is now $135,200.

Let’s also assume your rent is $800 per month, but the mortgage payment is only $600. A portion of your mortgage payment is building equity and you get $200 in cash flow every month.

If we assumed $300 per month was built in equity, then you are gaining $500 between cash flow and equity. Your total cash flow and equity is now $6,000 for the first year.

So how did we do for our first year?

Forced appreciation $30,000
Normal appreciation $5,200
Cash flow (rent) $2,400
Equity $3600
Income from all sources $41,200
Renovation costs -$10,000
Total Gain $31,200

Not too bad! $31,200 of profit was made in your first year. Keep in mind, this is only an example and you’ll have to do your own research. Unexpected expenses might come up which you would have to pay for, etc.

Cash out refinance

You should also be aware of what a cash out refinance is. A cash out refinance allows you to refinance your rental property and get money back because the home has appreciated in value. You can use the cash received to purchase another rental property.

In our example, the home appreciated by $35,200. You speak to your lender and refinance your first rental property. The bank adjusts your loan for property #1 and gives you $35,200 in cash. 

You can then use this cash to repeat the process and purchase another rental property. Every year, you purchase another rental property.

Flip products on Amazon or Ebay

Flipping products for profit on Amazon or Ebay can help you double your money in less than 24 hours with the right product. Your goal is to find good deals on items at retailers that you can sell for profit on Amazon or Ebay.

The first step is to download the seller app for Amazon or Ebay. You hit up your local Walmart and find products that are selling for more on Amazon.

You buy the products, ship them to Amazon, and Amazon sends them out when they sell. Amazon will deposit the money in your bank account, leaving you to find more products.

Selling on Amazon and eBay takes a little bit to learn the ropes. However, you will make good money once you understand how to find good products. 

Personally, one of my favorite experiences selling on Amazon was when I found a certain dog treat. I was able to purchase the dog treats for about $2 and sell them for $10. I could not keep my inventory stocked because the products sold so fast.

Obviously, Amazon takes a portion of the sale and there are shipping costs. However, I was able to double my money through one item.There’s plenty of opportunities for making money on Amazon.

Advertise and find clients

You can also spend $10,000 on Advertising yourself to acquire more clients. The more clients you have, the more money you’re going to make. The more money you make, the sooner you’ll reach your $100,000 goal.

For example, you might be a freelance writer. You currently charge a rate of $0.10 cents per word and have 5 clients. These clients are currently only bringing in 10 articles per month for an average of $2,000 per month.

You have the capacity to write 30 articles per month, so an extra 20 articles might bring in another $4,000. In total, your monthly income would increase to $6,000.

It is always easier to get clients to come to you. Therefore, you spend your $10k on advertising and have a good supply of paying clients. You are now making an additional $48,000 per year because you brought in more clients.

In the first two years, you make an additional $86,000 ($38k in year one because of ad costs). Therefore, you will make your first $100,000 mid way through year three.

Invest in yourself

You can never go wrong spending money on educational resources to improve your knowledge. The more you learn, the more you earn. People that become wealthy know how to make money and then put forth the effort to make money.

Education is the foundation for any path to wealth. Invest in courses, books, podcasts, or any other resource that helps you learn to make money.

You don’t even have to spend your whole $10,000 on educational resources. There are plenty of free options, such as the library, YouTube, blogs, and more.

Honestly, you’re only one piece of knowledge away from making a lot of money. You could purchase an options trading course and everything just clicks. Take that knowledge, apply it, and build wealth.

Invest in an IPO

Initial public offerings are often risky Investments. IPOs are new to the stock market and typically see either rapid growth or rapid decline. Purchasing the right company at the right price can rapidly multiply your money.

For example, Shopify had an initial public offering price of $25. Five years later, the price of Shopify had skyrocketed to $825 and it’s still growing.

You would have $330,000 in five years if you had invested $10,000 in Shopify’s IPO. Your first $100,000 would have been made in only four years. 

Invest for the long haul

Lastly, the best way to turn $10,000 into $100,000 yes to invest for the Long Haul. Investors who buy and hold have historically seen positive returns. Typically, most successful investors invest in low-risk index funds. 

Investing can be as easy as purchasing a simple S&P 500 Index Fund. Vanguard makes an S&P 500 fund called VOO and it’s really cheap to hold.

Most people these days are not a fan of buy and hold investing. People want wealth now and not years down the road. However, building wealth takes time and buy and hold investing is one of the most proven ways of achieving wealth.

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Summary: How to turn 10k into 100k

As you can see, it is possible to turn $10,000 into $100,000. You have to balance risk and reward if you want to be successful. Focus on higher-yielding investments, but make sure you do your due diligence before investing.

You can invest in real estate, initial public offerings, finding more clients, or flipping products on Amazon. Always ensure you are increasing your knowledge by investing in yourself. Investing for the long duration has typically produced the best results.