Ways to Make $1 Million

If You're BROKE

Millionaire Syrup
April 08, 2024

Ways to Make $1 Million

If You're BROKE

Sell Something For $1M

Selling something for a million dollars may seem like a big goal, but it's definitely possible. One approach is to find a successful e-commerce store that's already making a lot of money. Then, offer to help them increase their sales and revenue through things like improving their website, optimizing their emails, or enhancing their marketing strategies. By providing value and helping them make even more money, you can negotiate a percentage of the additional revenue as your compensation.

Borrow $1M

Real estate is a great way to borrow a million dollars. You take a loan to grab a property, then get tenants in who pay the loan off for you. It's like they're filling your pockets without you actually having the cash to start with.

For instance, someone started by flipping houses, not much profit, too much hassle. But then, they bought a 14-unit building with borrowed money. Four months later, they sold it and bam, $500,000 richer. They move into commercial real estate, start buying and flipping big buildings, like $10 million. Then they sell them for more, like $13 million, and they do this multiple times a year.

Refinance Something
Imagine you find a property, say a house that's worth $100,000, but you manage to negotiate and get it under contract for $80,000. Now, you tell the seller, "Hey, I'll give you $70,000 now, and I'll pay you the remaining $10,000 over the next five years." They agree, and you've got a deal. Next up, you go to a bank, and they're willing to loan you 80% of the property's value. Since the house is worth $100,000, they give you $80,000, but you only pay $70,000 for it. Boom, you've just made $10,000 instantly. This isn't just small-time stuff; you can scale it up to properties worth millions.

Sell Something For Commission

If you want to make a million dollars through commissions, you have to aim high and sell some really expensive stuff. Picture this: you sell a massive skyscraper worth a whopping $100 million. You can rake in a 3-4% commission on that deal, which adds up to $3-4 million in your pocket!

And get this, even if you sell a luxurious residence worth $20 million, you could still earn around 5% in commission, which comes out to a solid million dollars. The best part is, you don't even have to own the assets yourself. You just have to be the middle person, making those big deals happen.

Reselling

Here's the secret on making a million through reselling: First, find influencers or companies with a big following who are about to launch a product. Buy into that product early, before the hype builds up. Then, when the demand skyrockets, you sell it for a higher price. This strategy worked like a charm with NFTs because they're rare and everyone's competing to get them. It's the same logic with pre-IPO investments; when the company goes public, the increased attention usually boosts the value.

Now, break it down with some simple math. If you want to hit a million in a year, you need to pull in about $20,000 a week. That's because $20,000 each week for 52 weeks adds up to just over a million. Focus on selling items that can get you to that weekly goal. It's all about finding the right items and timing the market to maximize your profit.

Ways to Make $1 Million

If You're BROKE

Ways to Make $1 Million

Sell Something For $1M

Borrow $1M

Sell Something For Commission

Reselling

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