As the saying goes, you sometimes need to spend money to make money.
But if you have a bit more starting capital, you might be wondering how to flip $1,000 dollars.
In this post, I’m covering some ways you can invest $1,000 and grow your money, so get ready to flip your money and earn some extra cash!
How To Flip 1,000 Dollars
Some of the methods to flip $1,000 involve making money online by buying stuff and reselling it for a profit.
In contrast, some methods are more traditional forms of investing where you put your money to work for you.
Whatever case, if you’re looking for ways to flip $1,000 dollars, this is the post for you.
1. Buy And Resell Clothing
One popular option for flipping 1,000 dollars is to buy clothing to then resell online.
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:
- 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, 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 like Poshmark and Mercari you can use to sell clothing online.
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 for cash instead of going online.
And, you can always try selling clothing at your own garage sale or to people you know, so you have plenty of options.
2. Buy & Sell Collectibles
Another way to flip $1,000 dollars is to buy and sell collectibles.
And, thanks to the internet, it’s also easier to find buyers for certain collections than ever before.
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.
3. Start An Online Business
While this isn’t the most traditional way to flip $1,000, starting an online business is a way to invest your money into something and then generate serious returns.
I mean, I started This Online World back in college for under $100.
In 2020, the blog made $22,000; not bad for an online business that’s only three years old!
And in 2021, This Online World made $92,000!
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 shop
- Creating and selling physical products on a Shopify store
- Selling print-on-demand products and other merchandise on a Sellfy 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.
I think selling on Etsy is the most beginner-friendly solution since buyers can find your organically on Etsy’s marketplace.
But, you can start a Shopify store or Sellfy store for a very affordable monthly price and spend your remaining money on the inventory or manufacturing supplies you need to get operational.
4. 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.
Anyway, another strategy to flip 1,000 dollars is to try Amazon FBA retail arbitrage.
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 a million-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.
5. 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 crowdfunding websites.
For example, companies like Fundrise let you invest in income-generating real estate projects with as little as $10.
Fundrise pays investors with quarterly dividends, and the properties are often multi-family homes or corporate spaces that generate significant rental income.
Of course, you can also benefit from any property appreciation, but the quarterly dividend and low capital requirements is why a lot of beginners like Fundrise.
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, and you can always use companies like Fundrise to diversify your portfolio.
6. Invest In Dividend-Paying Stocks
Like investing in real estate, investing in dividend-paying stocks is another strategy to flip a thousand dollars and to create a new income stream for yourself.
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 like M1 Finance.
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.
7. 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 like Coinbase
- You use platforms like Celsius or Nexo.io to 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
That’s the nutshell version, but it’s a fascinating space with lots of opportunity.
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.
8. Rent Out Assets
A final way to flip $1,000 is to buy an asset and then rent it out for money.
This side hustle idea might surprise you. After all, when most people think about earning rental income, they think about platforms like Airbnb for your home or Turo for your car.
However, there are other rental marketplaces where you can list different items for rent and earn extra cash.
For example, Fat Llama is a general rental marketplace where people rent out things like:
- DJ Equipment
- Music equipment
- Photography gear
- Sports equipment and bikes
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!
This is just scratching the surface as well for the rental world.
For example, if you buy a shed, you can rent out the storage space to people in your city with Neighbor Storage and earn monthly passive income.
Ultimately, don’t be afraid to get a little creative while figuring out how to flip a thousand dollars.
Extra Reading – How To Make $400 A Day.
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.
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.
In fact, doubling $1,000 isn’t uncommon for NFT flippers, but the risk is that your NFT could become worthless as well, so this is a risky option.
A Note On Flipping $1,000 For Profit
Now that we’ve covered the best ways to flip $1,000, I want to clarify something very quickly.
Many of the ideas in this list require time and consistency to see profits.
Additionally, $1,000 is really just the starting capital to all of this, but it’s not where you have to draw the line.
If you’re seeing success with your clothing resale business, you can invest some additional capital to keep buying new inventory.
Similarly, if you invest in real estate or stocks, you can take a portion out of future paychecks and continue to invest so you keep on growing your wealth.
Frequently Asked Questions
1. How Can I Turn $1,000 Into $2,000?
If you want to double $1,000, 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.
2. 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.
3. 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.
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 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!
Best of luck on flipping your thousand dollars!
Want to try other money-making ideas? Checkout:
Tom is a full-time blogger and freelance writer with a passion for side hustling, passive income, and the gig economy. His work has appeared on dozens of personal finance websites like Money Crashers, The College Investor, Investor Junkie, and more. This Online World is all about providing people with honest ways to make and save more money by using technology. To learn more about Tom, read his About Page!
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