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10 Ways to Turn $100k into $1 Million in Today’s Market
I was in this position at one point
There are a few factors that we should consider; first, the current state of the economy is pretty darn good, but with lots of indications that it will not be good for very much longer — so that said, it might be worthwhile to focus on making money during a downturn economy.
Note: If the economy is still good, I would suggest that you find a way to find another person with a similar situation and see if you guys can JV on some stuff.
Next, think of big-ticket items or high-volume transactions where you can middle yourself in. Ideally, I would rather find one large transaction than many small ones — or a commodity.
- Real Estate. As mentioned elsewhere in another post, it is possible to find a fixer property in a nice area and then fix it. Then resell it for a profit. Rinse and repeat; if you spend 80,000 on your first flip, then sell it for $100k, then you net $20,000… Don’t take the profit, instead reinvest it and you will eventually compound your money.
- NOTE: Indian real estate might be the most steady growth: see India Real Residential Property Price Index
- Automotive. I’m a bit of a car guy, and so I like this one, but it’s not for everyone. You can flip cars. In…