As the saying goes, you sometimes need to spend money to make money.
This concept of flipping money is an immensely popular hustle. And the great news is that you can get started without being rich and having a lot of capital.
In fact, you can easily flip 1k and turn this starting cash into a handsome profit. Let's dive into how to get started!
How To Flip $1,000 Dollars
Table of Contents
1. Buy And Resell Clothing
People buy and sell clothing online all the time since it's the sort of inventory that moves quickly if you flip designer or well-known brands. You also have plenty of options for where you can sell clothing for extra cash.
For example, some popular platforms to sell clothing online include:
- Worthy: One of the best places to sell watches and jewelry online.
- Depop: A social-selling platform that's perfect for selling unique, thrifted finds.
- Mercari: An easy-to-use selling app where you can sell apparel alongside other goods.
- Poshmark: Pretty much the most popular marketplace for selling accessories, watches, apparel, and shoes online.
- eBay: Another reliable way to sell clothing online.
- Sideline Swap: Your best option for selling sports apparel.
- OfferUp: Another popular marketplace where you can flip stuff for cash pretty quickly.
This is just scratching the surface, and there are plenty of other websites out there you can use to start flipping things. And you don't have to just stick to online selling either.
For example, you can sell stuff on the Facebook Marketplace if you prefer selling in person. And, you can always try selling clothing at your own garage sale or to people you know, so you have plenty of options.
2. Invest In Real Estate
If you prefer earning passive income, you can always invest in real estate to flip your $1,000 into a larger amount of money. And you don't need a fortune to get started with real estate investing either thanks to real estate investing websites.
For example, companies like Arrived let you invest in individual income-generating rental properties starting with only $100.
Arrived pays its members with dividends from the income rental properties earn. And you can also get potential returns from property value going up.
Overall, these sorts of real estate investing companies are a nice passive income option and way to essentially make money by doing nothing.
Alternatively, you can try investing platforms likeFundrise. It lets you invest in multi family homes and other properties with only $10, so it's perfect for beginners.
Granted, this is a slower way to flip $1,000 since even at a 10% annual return, you're only making $100 in your first year. However, this could be the start of a good habit that lets you make money on autopilot.
Learn more about investing with Arrived!
Disclaimer: This is an endorsem*nt in partnership with Fundrise. We earn a commission from partner links. All opinions are my own.
3. Buy & Sell Collectibles
People have been flipping collectibles like sports cards, coin collections, Beanie Babies, and other popular collector's items for decades at this point. The same goes for more recent flipping trends likeselling Pokemon cards and Yugioh cards.
You should ideally be quite knowledgeable in the category you're flipping so you're not just going off of speculation and market hype. But, some people flip collectibles for serious cash quite regularly, so I think it's a viable way to flip 1,000 dollars.
eBay is one popular marketplace for selling collectibles, but you can also try sites like The Facebook Marketplace or even pawn shops!
4. Start An Online Business
Starting an online business is a way to invest your money into something and then generate serious returns. For example, I started WebMonkey back in college for under $100.
Then, in 2021, WebMonkey made $92,000. And the following year, I made $272,000 from blogging. In fact, the blog now makes $500 a day in Mediavine ad income, and it earns over 10k a month quite easily.
But starting a blog is just one example of an online business you can start, and in most cases, you won't need anything close to $1,000 to get up and running.
Some other, more capital-intensive businesses you can consider include:
- Opening an Etsy print on demand shop
- Creating and selling physical products on aShopify store
- Selling print-on-demand products and other merchandise on aSellfy store
Of course, you have to figure out what to manufacture and sell, and it can take time to find your first buyers as you grow your brand. But the income potential is immense while start-up costs are low.
5. Rent Out Assets
This side hustle idea might surprise you. But it's never been easier to buy and rent things out for profit, which is a pretty creative way to potentialy double $1,000.
For example, Fat Llama is a general rental marketplace where people rent out things like:
- Drones
- DJ Equipment
- Instruments
- Music equipment
- Photography gear
- Sports equipment and bikes
- Tools
In the example above, someone is renting out a power jet washer for around $25 per day. This lister has over 790 reviews, meaning they've made at least $19,000 in rental income from renting out this thing!
Extra Reading – How To Make $400 A Day.
6. Amazon FBA
There are lots of ways to make money with Amazon, but the Fulfillment by Amazon program is definitely one of the most popular.
With Amazon FBA, you send your inventory to Amazon warehouses around the world. When you make a sale, Amazon handles all of the shipping and logistics. You pay fees to use Amazon FBA, but you leverage Amazon's fulfillment expertise. Plus, your listings are Prime-eligible.
This business model makes Amazon FBA quite popular for flippers. Essentially, this involves buying products that sell well on Amazon from discount stores like Walmart and Kohl's and then reselling them on Amazon.
I interviewed a couple who run amillion-dollar retail arbitrage business, and they clear tens of thousands of dollars in profit from their Amazon FBA business.
Granted, it takes a long time to build your inventory and to learn which products sell super fast on Amazon. There's also risk with Amazon retail arbitrage since your products might not sell fast enough for you to recoup your starting capital, or ever sell at all.
But in any case, retail arbitrage is a popular online side hustle, and $1,000 of starting cash is more than enough to test out this business model.
7. Invest In Dividend-Paying Stocks & ETFs
Like investing in real estate, investing in dividend-paying stocks is another strategy you can try.
This is also very straightforward; there are plenty of companies and ETFs that pay quarterly or annual dividends, so you have plenty of choice. And, chances are you can start trading for free through your bank or through a commission-free online broker likeM1.
Like Fundrise, investing $1,000 in dividend-paying stocks won't make you a millionaire. But, this is the start of a good habit and learning how to invest. Plus, you can always contribute more to your portfolio over time and reinvest dividend payments as well.
If you want even more investing ideas, you can check out our post on the best ways to invest and make money daily.
8. Stake Crypto
If you're looking for an alternative way to flip $1,000, buying and staking crypto could be for you.
This is a passive income stream I'm currently building, and here's how it works in a nutshell:
- You buy various cryptocurrencies on an exchange likeCoinbase
- You use platforms like Celsius or Nexo.ioto stake or lend out your crypto and earn interest
- You get paid interest back in crypto or USDC and can sell your holdings if you want real cash
Currently, I'm looking to earn interest with Nexo.io since I bought some crypto on Coinbase over the past few weeks, so I'll update the blog with how this passive income experiment is going in a few months.
My recommendation here is to do as much reading as possible and to also know your level of risk tolerance as an investor.
Crypto isn't for everyone, and I think being an educated investor in the space is of the utmost importance. But the bottom line is that if you want to flip $1,000 with an alternative asset, the world of crypto has plenty of opportunity.
9. Flip Digital Assets
If you're still wondering how to flip 1,000 dollars, you can always try your hand at flipping digital assets for profits.
People do this with domain names and websites all the time. But more recently, people have been buying and flipping NFTs to try and make some quick money.
Now, the tricky part with flipping these sorts of assets is that prices can be extremely volatile and also very speculative. But if you pick the right NFT project early on and get an NFT at mint price, you might be able to flip it for a very handsome profit.
What's The Best Way To Double $1,000 Dollars?
Some of the most consistent strategies to double $1,000 include:
- Using the money to start a low-cost side hustle
- Starting an online business
- Buying and flipping goods
- Retail arbitrage
Investing or developing passive income streams can also double 1k. However, this process takes much more time.
Frequently Asked Questions
How Can I Turn $1,000 Into $2,000?
If you want to turn $1,000 into $2,000, one of the best options is to buy popular products and resell them for a profit. This is retail arbitrage, and $1,000 is enough starting capital for you to buy a decent amount of inventory that you can flip.
Keep in mind, it can still take a while to sell all of your inventory, and you might need several rounds of selling to double your initial $1k investment.
Extra Reading – How To Make $1,000 In 24 Hours.
How Can I Turn $1,000 Into $10,000?
In my opinion, the best way to turn $1,000 into $10,000 is to launch an online business. Selling your own products online and growing your own brand has an incredibly high earning ceiling, and $1k is also enough to launch your online store.
Again, like any method of flipping money, you probably need several rounds of buying inventory and selling it before you reach your $10,000 goal.
Extra Reading – How To Make $20,000 A Month.
What's The Most Passive Option?
If you're looking for passive side hustle for flipping $1k, I think buying and renting out assets is the best option. This route is mostly passive since you just have to deal with renter questions and handing off the product they're renting when they come to pick it up.
Investing in income-generating real estate with companies like Arrived and Fundrise is also a completely passive route you can take to make your money work for you.
Final Thoughts
I hope this guide on how to flip 1,000 dollars gives you some starting ideas for how you can put your money to work.
For me, I'm sticking with investing, blogging, and crypto for now, but again, you can get creative and explore all of the ways to flip your cash.
Just remember to do your research and to consider the different risks with various flipping ideas since you don't want your money to get tied up endlessly in inventory. Who knows, in time, you might be making $1,000 a day or more with this sort of side hustle!
Want to try other money-making ideas? Checkout:
- How To Turn $100 Into $1,000.
- How To Make $2,000 Fast.
- How To Double 50K.
