It’s time to start building wealth with your money, so you’re wondering how to turn 10k into 100k.
The good news is that you can flip your money in a variety of ways. Investing, real estate, starting a new business, or even a combination of side hustle plans are all possibilities.
If you’re willing to commit to the method you choose, it’s still possible to turn $10,000 into $100,000.
Here are some ways to turn 10k into 100k and get to work. We will explain some of the options and opportunities.
How To Turn 10K Into 100K
You will use a particular method to make 10k into 100k based on how quickly you would like to maximize your return and your risk tolerance.
It is usually much riskier to invest in higher-yielding opportunities than in those with a lower yield. So if you’re patient with your investment, you’re likely to see steady profits over time.
However, if your goal is to make 10k into 100k rapidly, your investment method will be more difficult and riskier.
If you pick a strategy, be sure to consider your investment objectives, timeframe, and risk tolerance first so you can pick the one that is right for you.
The following are some of the best ways to turn $10,000 into $100,000 so you can start building wealth.
1. START AN ONLINE BUSINESS
Starting your own online business is an effective way to turn ten thousand dollars into a hundred thousand dollars.
It is possible to make money online with a business, but if you want to make $100k in profit, you have to set up an e-commerce store.
New ecommerce store owners usually have the hardest time deciding what to sell and how to make their inventory, but there are many options.
Dropshipping is a service where store owners sell a variety of products, so they do not touch the inventory they are selling to customers.
On Etsy, you can try selling print-on-demand products using Printify, which eliminates manufacturing and shipping concerns for you.
You can use $10,000 to help fund your initial batch of inventory if you decide to manufacture your own products.
There are also plenty of excellent options for starting a web store.
The company Sellfy allows you to launch your own ecommerce store within five minutes.
The Sellfy platform doesn’t charge any transaction fees either, and you can even test it out free of charge to see if it is right for your business.
Moreover, Shopify stores are always an option since they are a popular choice among ecommerce businesses around the world.
There is a huge revenue potential in ecommerce. Through ecommerce, it is possible to turn $10,000 into $100,000.
2. START A SERVICE-BASED BUSINESS
Entrepreneurship can be a great way to earn money on your own time, and $10,000 can often be enough to get you started.
With a lawn mower and weed whacker, you can start a landscaping business. Starting a snow removal business can also keep your clients in the winter!
With nothing more than a ladder, some cleaning solution and a squeegee, my brother started a window cleaning business one summer and made $2500 a week quickly.
There are endless possibilities, but with a bit of hard work and some marketing, $10,000 can be turned into $100,000 in no time.
3. INVEST IN REAL ESTATE
Your money can also be put to work for you by investing in real estate.
As a result, buying a rental property with $10k won’t work like the more traditional method of investing.
Real estate investing can still be done with less than $10,000.
Investors can pool their money together through crowdfunding websites like Fundrise to invest in income-producing real estate projects, for instance.
Investing with Fundrise is easy with only $10, but with $10,000, more account types and properties are available.
Investments in Fundrise have historically returned around 8% for investors with a 1% annual fee.
In addition to receiving quarterly dividends, you are also eligible to benefit from property appreciation.
Similar companies include PeerStreet and offer you the chance to fund real estate debt projects while earning interest on your loans.
PeerStreet requires $1,000 for your initial investment and an additional $100 for subsequent investments, so there are a few beginner-friendly options between Fundrise and PeerStreet.
It takes years to invest $10,000 into $100,000 using this strategy, but it is a slower way to grow your investments.
You don’t have to make $100,000 in a month if you invest $10,000 in real estate. It is a great way to start an investing habit or diversify your portfolio.
4. MAKE MONEY WITH RETAIL ARBITRAGE
A retail arbitrage business is also a way to make $100,000 from $10,000.
The concept of retail arbitrage entails purchasing popular products at a discount and reselling them online on platforms such as Amazon and eBay.
Typically, retail arbitrage sellers focus on selling products that sell fast like apparel, books, electronics, and toys.
Also, you can find products from stores with clearance aisles, like Walmart, Target, and Kohl’s, which can help you make more money when reselling products online.
It takes some practice and time to find the right retailers and clearance items in your area, but once you get the hang of it, it’s a great way to make some money and eventually scale your business.
Amazon’s FBA program makes running an e-commerce business easier than ever.
Adding the products you want to sell to your Amazon catalog and sending your inventory to one of its warehouses is all you need to do.
You can then focus on your retail arbitrage business while Amazon handles shipping and logistics.
When you sell through Amazon FBA, your customers can benefit from 2-day shipping with their Prime memberships, so you also gain some competitive advantages.
In general, it’s worth it if you consistently sell and move inventory, but there are various Amazon FBA seller fees
5. INVEST IN STOCKS AND ETFS
From your initial investment, regular investing provides passive income.
When it comes to turning $10k into $100k, investing definitely makes sense if you’re looking for a hands-off approach.
You can also begin investing in a number of ways, and there are many online resources about different investment strategies and philosophies.
Some examples of common investments include:
- Dividend-paying stocks
- Mutual funds
- Growth stocks
You can open an investment account free of charge through most major banks, and you can get an investment advisor from your bank if you want extra advice.
If you want more control, M1 Finance is a free online broker that you can use. You can invest in a variety of financial products with M1 Finance without commissions, which makes it
Invest in a variety of securities like stocks and ETFs with M1 Finance and you won’t pay a commission fee, so starting to invest is very affordable.
The M1 Finance website typically offers a bonus for new account holders who deposit a certain amount to start investing, so your $10,000 initial investment can likely make $100 or more right away!
6. START A BLOG & YOUTUBE CHANNEL
If you have a topic you’re passionate about, start a blog and YouTube channel to turn that passion into a side hustle!
It is estimated that there is an income potential of millions of dollars from blogs and YouTube channels.
As with any other income source, growing a blog and YouTube channel takes time and patience, but the potential is there.
During its first full year of blogging, This Online World earned less than $2,000 per month. It then made $22,000 in its third year.
YouTube can also be used to make money. After a year, Tom’s blog now earns over $600 in semi-passive income per month from his channel.
The great news is that this is an extremely cost-effective method of turning $10k into $100k. Most start-ups don’t even require $10,000.
You can start a blog for a very low cost. Your main expenses will be web hosting, a domain name, and a website theme.
You can set up for YouTube on a budget by just using your phone’s camera and mic, as well as some free or cheap editing software.
Despite this, many new YouTube channels still start with a decent camera, microphone, tripod, and lighting equipment in order to create better footage.
However, both of these businesses should still cost less than $10k, so you’ll have more money left for future expenses such as blog redesigns and freelancers.
Blogging and YouTube aren’t for you if you’re looking to turn $10,000 into $100,000 fast.
You should focus on blogging and YouTube if you want to start your own online business.
Frequently Asked Questions
1. HOW CAN I GET RICH OFF 10K?
The chances are that you’re getting your hopes up if you’re looking to get rich quick with $10k.
There have been people who have made fortunes with little money. The average person is more likely to generate wealth through a side business, investment portfolio, or business venture.
Don’t worry if your $10k doesn’t grow into a fortune right away, because there’s nothing wrong with taking your time.
2. HOW CAN I TURN $10K INTO $100K PASSIVELY?
If you aren’t interested in starting your own business or spending much time flipping your money, avenues like investing in traditional companies or investing in real estate through companies like Fundrise may be better options.
You can still accumulate meaningful returns by using these methods over the long-run, and you don’t need to micromanage employees or daily operations.
Your best method for turning 10k into 100k really depends on what interests you and how much work you are willing to put into your money flipping technique.
It is hoped that at least one of the methods above caught your attention so you can decide where to invest your money.
You can create a new source of income if you get into stocks or crypto, start a business, or start a blog.
We’re ready to go!