Flipping, or buying something and then reselling it for greater value, is one of the oldest money-making methods in the books.
But, a lot of people think you need a lot of money to start this side hustle idea.
However, it’s possible to start with a relatively small amount of money and to gradually grow that starting fund into a more significant amount.
So, let’s take $500 as an example.
If you’re wondering how to flip $500 dollars, this is the post for you.
I’m going to cover several ways you can flip $500 and put some idle cash to work to increase your income.
Let’s get to it!
How To Flip 500 Dollars
Some of the following methods of flipping money are going to involve classic examples of flipping, meaning you’re buying assets and immediately reselling them.
Other ways to flip $500 involve using the money to buy an asset which in turn appreciates in value, leaving you with more money than you started with.
With that out of the way, let’s look into all of the different ways to flip $500 fast!
1. Thrift Store Clothing Flipping
Clothing is a very popular category for flippers because people are always buying clothing and it’s typically easy to find apparel on sale, leaving you with more margin potential.
And, thrift stores are an excellent place to source clothing because you can often find unique pieces or pieces from expensive brands that other people have gotten rid of to clean out their closet.
So, if you want to flip $500 and think you have a knack for fashion, you could invest that money into inventory and then list your pieces on clothing resale apps like:
It might take a while to liquidate your inventory and to get all your money back, but if you like this online money-making idea, you can also put some of your profit back into more inventory.
People even use apps like Poshmark to grow full-on flipping businesses, and there are stories of Poshmark sellers who make thousands of dollars in profit.
If you can find trendy, in-season pieces, you can sell your inventory faster, so keep this flipping tip in mind.
2. Buy & Sell Collectibles
Another option to flip $500 dollars is to buy various collectibles and to try and resell them for profit.
You can either do this by buying and holding onto various collectibles for a while in hopes that it appreciates.
Alternatively, you can try and buy undervalued collectibles from people and then immediately find a new buyer to try and sell to.
Collectibles are another popular flipping category, and there’s quite a few examples of collectibles you can flip, including:
- Baseball cards
- Dolls and toys (like Beanie Babies, for example)
- Pokemon cards
- Yugioh cards
Granted, flipping $500 in collectibles might be hard since $500 won’t buy you a lot to start out with.
But, people have been flipping things like Pokemon cards very frequently these day, so some of the markets are quite hot.
3. Buy & Rent An Asset
A more unorthodox way to flip $500 is to buy an asset with it and then rent it out for profit.
But, if you want to earn passive income, this idea definitely beats the traditional flipping model.
There’s also a variety of things you can rent out for profit, and marketplaces like Fat Llama let you create a listing for free and find renters in your city.
Examples of things you can rent out include:
- Electronics (like DJ or audio equipment)
- Photography and film equipment
- Musical instruments
- Specific types of tools
Obviously, $500 won’t buy you every kind of asset or the most high-end camera, but you’d be amazed at what people are renting out on Fat Llama (and how much they’re making.)
For example, this one guy is renting out a jet power washer for around $20, and he has over 790 reviews!
This means this guy is making thousands of dollars by renting this thing out, so it’s the perfect example of how you can flip $500 by investing in an asset and then renting it to people.
Extra Reading – Neighbor Storage Review – Make Money Renting Out Spare Space!
4. Start A Blog
Like flipping assets, putting your money into starting a blog is another way to turn that money into much, much more.
Again, this isn’t traditional flipping, but hey, I think the income potential here is immense.
The idea is simple: take some or all of your $500, invest in starting a blog, and then work to grow that blog into an income.
I’ll share my own story as an example to highlight the potential here.
I started my blog back in college for around $150.
Now, I’ve spent much more than $500 on my blog over the years.
In fact, I spend over $1,000 in content writing help for the blog each month on average, but those articles in-turn produce more income because they get views.
So, really, blogging is the perfect example of how you can flip your money by putting it into an asset and then growing it into an income source.
Of course, this takes time and work, so it isn’t a method to flip 500 dollars fast.
But, if you like writing and want to create an income-generating asset, I think blogging is for you.
Extra Reading – How I Made $22,000 Blogging In 2020.
5. Flea Market Flipping
If you’re still wondering how to flip $500, the answer might be waiting at a flea market.
Places like flea markets and garage sales are classic places for sourcing products to flip.
This is because you can find some seriously undervalued gems, antiques, collectibles, or other unique pieces someone might be willing to spend a pretty penny on.
My friend Nathan actually runs an eBay flipping business, and he flips all sorts of stuff from various garage sales and flea markets he stumbles across.
Anyway, eBay is just one sales channel you can use to flip goods.
You can also consider selling stuff on Amazon, Mercari, or even The Facebook Marketplace if you prefer finding local buyers.
Again, classic flipping like this can tie up your $500 fund for a while, and it’s important to reinvest your profit into new inventory so you can gradually scale your flipping income.
6. Make A Bet With HealthyWage
If you want to flip $500 and also get in shape, HealthyWage is for you!
There are plenty of apps that pay you to workout, and HealthyWage is the most intense out of all of them.
In fact, HealthyWage pays winning players and teams up to $10,000, so there’s a lot of money on the table with this fitness app.
So, how does HealthyWage work?
Well, in a nutshell, HealthyWage lets you bet on yourself to lose weight. If you reach your goal, you get your bet back, plus interest.
Here are the main steps to know:
- Use HealthyWage’s calculator to estimate how much money you can win based on your wager and weight loss goal
- Place your bet
- Verify your starting weight
- Lose the weight within your set timeframe
- Verify your ending weight
- Get paid cash
You have to set at least 6 months for your timeframe, but if you’re willing to bet $500 on yourself, you might be able to double your money or make even more!
7. Domain Flipping
Domain flipping is just like flipping houses, except you’re flipping website names, not physical real estate.
People have been flipping domain names ever since the internet started, and if you think an emerging trend will make a domain name you can buy increase in value, you can buy that domain and hold it until it appreciates.
This is a very speculative type of flipping, and while some people do it full-time, it’s definitely not something you should put a lot of money into without any experience.
Domain flipping is pretty exciting however, and I’ve eyed several domains over the years and thought about getting into it.
My friend who works in digital marketing is sitting on a few names right now, and it’s overall a pretty cool flipping space if you’re into things like blogging and ecommerce.
8. Crypto Staking
Another way to flip $500 is to buy various cryptocurrencies, stake them, and then sell your extra crypto for a profit.
Okay, if that sounds like complete nonsense, that’s alright: the world of crypto staking is pretty weird.
But, in a nutshell, some cryptocurrencies use proof-of-stake (PoS) to verify transactions on the blockchain.
So, on some platforms, you can put your crypto to work in staking pools to help with PoS. In exchange, you earn extra crypto as a form of reward.
This is a very simplified explanation, but think of it like putting your crypto in a high-interest savings account to earn interest.
This video does a great job at covering some of the best platforms to stake your crypto:
But, some popular exchanges that allow staking and other staking platforms include:
- BlockFi (lets you lend)
- Celsius (lets you lend)
This is a pretty complex space and it’s a bit like the wild west right now, but again, if you’re interested in earning passive income with your crypto, this should be incredibly exciting.
Personally, I’ve been eyeing Celsius lately and might give it a whirl, but always do your research and due diligence!
9. Buy Limited-Edition Goods
If you’re willing to stand in line all day or get lucky and beat out hordes of online shoppers, buying limited-edition goods on drop day can be another way to flip $500.
Certain brands have cult followings. So, if you can ever get your hands on limited-edition merch, you’re probably sitting on the easiest flipping opportunity ever.
Brands like Supreme are a classic example of this, and Supreme resellers have made insane amounts of cash on limited-edition pieces before.
This video from Holden Blaize shares how he makes money reselling Supreme, but the concept is similar for other brands as well:
Shoe brands and various basketball shoes are another example, and limited-edition sports memorabilia in general is a pretty hot flipping category.
Band merch or exclusive vinyl and album drops can also be good candidates.
Really, the trick is being early to buy, which again means potentially standing in line all day or getting lucky at online checkout.
However, if you follow a particular team, band, or brand religiously, keep an eye out for an opportunity to flip some limited-edition merchandise.
Extra Reading – The Best Places To Sell Sports Cards.
Frequently Asked Questions
Now that I’ve covered how to flip 500 dollars, let’s cover a few of the common questions people have about this money-making idea.
1. How Can I Turn $500 Into $1,000?
If you want to flip $500 into $1,000, I think your best bet is to get into clothing reselling.
Apparel can have high margins if you find pieces from trendy brands at a discount, and there’s enough sales volume for your inventory to move quickly here versus something that’s more niche.
Plenty of Poshmark sellers make thousands of dollars a month, so it’s certainly possible to flip $500 into $1,000 with some hard work.
You can also sell clothing on other channels like Facebook or eBay and Mercari while it’s on Poshmark, so you don’t have to limit yourself to just one seller marketplace.
And, things like shoes and handbags are fair game too; you don’t have to stick to just clothing.
Extra Reading – How To Turn $10 Into $100.
2. How Can I Invest $500 For A Quick Return?
If you want to flip $500 fast, my advice is to put the money into starting a new side hustle.
There’s so many ways you can do this, and a $500 starting investment is more than enough.
For example, you can buy a lawnmower for under $500, or some other type of lawn care equipment, and offer that service to people in your area.
Alternatively, you can buy a bike if you don’t have one and sign up to deliver for DoorDash as a bike courier, which is what my friend did when we graduated college.
And, if you want to keep things simple, you can always invest your money into stocks, ETFs, or even real estate with a company like Fundrise.
The point is, you can flip $500 fast, just be sure to research your options and to pick what you think has the right level of return and risk tolerance.
Extra Reading – How To Make $60 A Day.
I hope this post on how to flip $500 gives you some ideas for how to put your money to work.
There’s honestly plenty of flipping opportunities out there if you get creative, and you don’t need thousands of dollars to get started either.
Hopefully, one of the ideas in this list turns into a handsome profit for you!
Best of luck!
Looking for other ways to make extra money? Checkout:
- The Best Gig Apps To Start A New Side Hustle.
- 10+ Side Jobs Perfect For Busy People.
- How To Flip A Thousand Dollars.
Tom is a 24 year old recent college graduate from Canada with a passion for side hustling, passive income, and marketing. 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!
If you’re interested in freelance writing services or want to partner with This Online World, please visit Tom Blake Digital to get in touch!