Best Ways to Turn $10K Into Millions

These are 3 ways anyone can turn just $10,000 into $1,000,000+

1) Real Estate

Real estate is the most effective way to turn little money into fortunes. There are many strategies you can implement to achieve millions through real estate. Real Estate is the most effective way to turn a small investment into millions because of the power of leverage.

BRRR Strategy

This stands for Buy, Renovate, Refinance, Repeat. Step one is to buy a property preferably slightly distressed. Step two is to now renovate, adding some renovations such as a kitchen remodel, new floors, an additional bathroom, etc. This is why buying a slightly distressed property can give us more room to renovate. Buying a slightly distressed property and then adding renovations gives us the capability to add more value for step three. Step three, now that we have added value(equity) through renovations we can refinance the home. The bank will give you up to 80% of the homes value. Step four, now that we have refinanced we can use that money to go into another property and repeat.

Check out this video for a more in depth guide

Flip

Flipping homes can be a faster way to make quick money but not long lasting money. The process is somewhat similar to the BRRR strategy mentioned before. However after step two instead of refinancing, the investor would sell after renovating the home profiting the difference after adding value to the home.

2) Stocks

Stocks are a great way to achieve millions through a small 10k investment overtime.

The benefits of stocks is its less effort, compounding interest, and simplicity.

While stocks are a great way to make money over time, its not the fastest and takes time.

If you invest just $10,000 into say SBR which offers 10.25% Dividend Yield. In 30 years without touching that initial $10,000 investment, would turn into $1,485,739 producing $23,891 every month into your bank account.

-Check out the 6 highest paying monthly dividend stocks here.

3) Start a Business

Lastly is starting a business. Picking a profitable and scalable business is an amazing way to achieve millions. Starting a business however takes a lot of effort and hard work.

Growing a brand or business online can be one the most lucrative options on this list. Every Friday we go in depth on a business model that generates over 1 Million a year and how you can to (Blue Print Fridays).