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How To Double 10K Quickly

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By: Scam Risk - Expert Reviewer

How To Double 10k Quickly: Like For Real For Real

Top Ways to Double $10K Quickly in 2021

So your grandma Matilda just sent you a $10,000 check in the mail.

Maybe you’re not as fortunate, but you’re diligent and determined to build an investment nest egg.

What do you intend to do about that now?

Doubling Your Money!

The Rule Of 72 Formula

You’ve likely found this page because you got a large amount of money sitting in your bank account and are clueless how to grow it.

You might also be wondering what the best business model is in 2021.

Check out our #1 Recommendation For Making Money Online!

When you invest, two factors usually come into the equation: speed and risk.

You’ll discover various useful ways below on how these two affect your investment. 

More stars mean ROI may be multiplied faster, while more “risk” stars obviously mean it poses more threat.

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With no:
This is so simple, it should be illegal.

Table of Contents

Chapter 1: The Funding Index

How To Make Money By Doing What The Experts Do!

Speed: 2/ 5 stars

Risk: 3/ 5 stars

Index funds have the potential to provide a tremendous ROI, which could be used to double your $10k.

We awarded it two stars for speed since it’ll take you a little while to turn $10,000 into $20,000.

Moreover, leaving your money to the overall market and system structure, the risk is much larger than usual.

The following are the actions you may take if you wish to adopt this method.

Step 1. Keep Tabs Your Accounts.

You must first authenticate your 401(k), IRA, or brokerage account before you can start your investment with index funds.

Investors may invest in a stock market through a brokerage account. Before buying assets, they could make cash deposits.

Step 2. How To Pick The Right Fund.

Select the index you want to invest in.

Index funds can follow a particular asset, type of company, or industry.

Whichever fund you opt to spend for the investment, ensure that it meets your overall risk tolerance and adds to your other (if available) assets.

Step 3. What Is The Least You Should Invest?

Look for the minimum investment.

Not all index funds are cheap; most of them would require a minimum amount of money to join.

You may remove this option off your list at the moment, if you can’t afford the bare minimum.

Step 4. Strive For The 1%.

With the lowest viable expenditure rate, the time it would take to obtain your return will be shortened.

The time before your investment multiplies may be prolonged if you are compelled to accept a larger percentage of expenditure.

Step 5. Automatic Funding.

Firstly, your account has to be funded. Next, set up your account to automatically accept donations.

Chapter 2: Rent Or Flip

Real Estate Tycoon Simulator IRL

Speed: 2/ 5 stars

Risk: 2.5/ 5 stars

If you are watching HGTV or envisioning yourself as Chip & Jo, then this is for you!

Obviously, $10k wouldn’t be enough to flip and rent a house on your own, but this could turn into a fantastic alternative for a joint effort.

1. Create A Roadmap.

Make a strategy and understand what your goals are. You should establish your end goal on your financial capacity, investment strategy and objectives.

2. Your Network Is Your Net Worth.

Get as much information as possible from other local landlords / investors and network with them.

However, you should also consider their investment prejudice.  The approach to buying, experiences and end goals of the landlord all add up to his or her bias.

This can help you to locate other investors / landlords with similar objectives but have far more resources than you do.

They can provide you with guidance and address your concerns.

3. Figure Out A Down Payment

Start setting aside money for a down payment.

Budget your money once you begin the property search.

Save a minimum of 20-30% of the purchase price for the down payment, and also, schedule a consultation with your bank to discuss possibilities based on your budget.

4. List Your Expenses.

Determine your expenses. 

Each rental property involves expenses; it is crucial that you fully know how this works – the monthly and potential unexpected costs – if you are to be successful with this approach.

5. Location, Location, Location.

You would also have to conduct due diligence while searching for a thriving real estate market. The following are some questions that may be useful in doing your homework:

  • Is the property in a decent school neighborhood?
  • Is it within walking distance from businesses or attractions?
  • What’s the walk score of the property?
  • How many others are in the neighborhood?
  • What is the area’s crime rate?
  • How much is the local or neighborhood average household income?

6. Inspect What You Expect.

Pay for a proper home inspection.

Although house inspections run between $250 and $450 or more, they would work out to your advantage in the end.

It could show things that could potentially cost you a fortune if overlooked or left unrepaired.

Please also note that the findings of the inspection might be used for the negotiating portion of your acquisition of the property.

7. Pro Forma

A pro forma is simply a cash flow estimate of the property.

These predictions assist to establish the projected monthly cash flow of the property, including taxes and estimated ROI.

8. Appraisal

Make sure to obtain an appraisal.

A property appraisal will be ordered by the lender when you plan to buy a rental property through financing.

This allows both parties to verify that the amount paid for a property is correct and that it is not overpriced.

9. Research Insurance Options.

While it may appear obvious, it is vital that your new investment property is not placed at needless danger so be sure that you get a good insurance policy.

Search for local agents and discuss with them the options available, pricing, and coverage.

Umbrella insurance policies as a property owner may prove to be valuable in the long run.

In the event of an unforeseen accident or lawsuit, these provide you with another layer of protection.

These are designed to safeguard your property and other financial assets.

10. Make an Offer.

When you locate a property in which you want to invest, call your real estate agent, if you have one, and they will complete the required documentation and present your offer.

Do not allow your emotions get the best of you, and only invest what you can spend. You’re on the clock as soon as your offer is approved.

It’s best to act fast because the timeframe for you to close varies.

It’s also a smart choice to ensure that the transaction is completed before the due date.

If you’ve decided to hire a property manager, start working on the terms and agreements.

Your ROI rate is entirely dependent on how soon you can rent out the home.

Chapter 3: Stocks

The Backbone Of Wall Street

Speed: 4/ 5 stars

Risk: 4/ 5 stars

The NASDAQ, New York Stock Exchange, EuroNext, the TMX Group, the London Stock Exchange, and the Australian Securities Exchange are just a few examples.

Their common denominator? They are all based on stocks.

Stocks are a major deal since they represent one of the pillars of our contemporary global economy.

Let’s get started.

1. Assess Your Financial Situation.

Before you invest in stocks or bonds, you should be sure that your financial condition can handle it.

There are multiple crucial factors to explore in order to ascertain this:

  • Verify that your income and work are both solid enough to enable you to make an investment.
  • If you’ve got existing debt obligations, you should definitely prioritize on paying it off first before investing. Never invest money that you cannot afford to lose.
  • If you have a kid, you may need to devote all of your available money to assisting that child. (LOL)
  • You ought to have sufficient money in your home budget to spend towards your investments.

2. Pick A Lane.

Make a choice on how you wish to invest in stocks.

Are you looking for a more hands-on style or a more hands-off style?

Both are viable alternatives, but for the majority of people, the hands-off technique is preferable.

Look into getting a Robo-adviser.

3. Open An Investment Account.

To invest in stocks, you must first open an investment account.

Based on your degree of participation, this may include creating a brokerage account or an account with a Robo-advisor.

Furthermore, keep in mind that 401(k)s are a sort of investment account where mutual funds are integrated so you just might be already making an investment in that through the 401(k)s.

4. Set A Budget.

When deciding on a budget, consider the following:

  • How much capital do I need to begin investing in stocks? The funds required are determined by the value of the individual shares.
  • How much should I put into stocks?

5. Invest Gradually.

Invest gradually. Individual stocks should account for no more than 10% of your total investment.

Chapter 4: The Name Is Bonds.

Standard Bonds

Speed: 1/ 5 stars

Risk: 0.5/ 5 stars

Bonds are yet another important component of today’s global economy.

Bonds, as opposed to stocks, entail lesser risks since its maturity takes longer.

This is the reason why we gave it just one star for speed and a half star for risk.

Below are some pointers about investing in bonds:

1. Understand The Basics.

Learn the ins and outs of investing in bonds.

When you purchase bonds, you are committing to lend a particular amount of money to the issuer for a set period of time.

In exchange, the issuer commits to make monthly interest payments at a fixed rate till its maturity, at which point your principal is fully returned.

2. Start A Brokerage Account.

Bonds can be purchased via a brokerage agency that works with governments and corporations looking to issue debt.

Brokerage companies can also access secondary markets where you can purchase bonds.

3. Which Type Of Bond?

Choose what kind of bond you wish to buy. There are numerous types of bonds to select from such as coupon bonds, treasury bonds, to name a few.

4. Evaluate The Bond(s).

It is critical to examine bonds before investing in them.

Examine the bond’s issuer because their reliability varies.

The vast majority of issuers will most likely fit into one of the following categories:

  • The United States Treasury is regarded as the gold standard of dependability.
  • Other US Government Agencies would have yields that are a little greater than Treasury Bonds, but the risk is regarded to be small.
  • Municipal government issued bonds carry a somewhat higher risk than bonds issued by a federal government.
  • Foreign governments will be either low or high risk, with matching low or high returns. This is entirely dependent on the country issuing the bonds.

5. Bond Grading

Another approach to assess bonds is to check their grade.

Bonds are graded based on their credit rating and the ability of the bond issuer to pay back the investment.

Bonds with ratings between AAA-C and AAA are better, those closer to AAA are considered the best bonds.

Any bond rated BBB or higher, on the other hand, is regarded as investment grade.

6. Bond Laddering

Investing in bonds using a laddered strategy is another way to do it.

Since they varying rates of maturity, it is critical to purchase bonds with staggered maturing rates.

Note that when you purchase bonds, you are tying yourself into a specific interest rate for a set length of time, so if their maturity is at a staggered rate, it would give you more liquidity.

Chapter 5: Margin Trading

Borrowed Money Making Money

Speed: 4/ 5 stars

Risk: 4.5/ 5 stars

The margin is the amount of money borrowed for the purpose of investing.

Here’s a rundown of important information about margins:

What makes it extremely risky, but profitable potentially, is due to the fact that you are utilizing money of someone else to make money.

With this approach, you have an exponentially greater chance of doubling any investment that you choose to pair with a loan.

There are several criteria for margin trading that you should be aware of before you begin:

1. Open Up A Margin Account.

A margin account is a special account created with a broker in order to begin margin trading.

They are typically subject to minimum account balances, which are frequently dependent on the account’s loan-to-value ratio.

2. Buy.

Using your borrowed funds, begin to purchase stocks.

The entire purpose of margin trading is to purchase equities using borrowed capital.

Relative to spot trading, earnings can be substantially improved by using borrowed funds to acquire stocks.

3. Hold.

Hold the position for a brief amount of time.

Try to make one or two month time frames for margin purchases to avoid unexpected price reductions or market corrections for an extended period of time.

4. Sell.

When the stock hits a certain level, sell it.

Don’t be greedy; instead, establish a target price ahead of time.

If your target doesn’t meet the price, rethink your options and think about selling.

Chapter 6: Land Flipping

Dirt Never Looked So Good

Speed: 3/5 stars

Risk: 3/ 5 stars

Most people assume that flipping houses is the best way to make a lot of money in real estate, but this is because people typically overlook the land.

Flipping land may give a similarly thrilling return without the enormous expenditures of remodeling and modernizing a dwelling.

We assigned three stars to the speed of achieving a double investment, and also the potential risk as it is larger on average, like with any major asset purchase.

But, by taking the necessary precautions, you can minimize your risk and accomplish your investment objectives more quickly.

1. Market Research

It’s a good idea to check at a few different markets if you are considering investing in land.

There are lots of options with most markets, but the price range and property type differ.

Below are a few market research tips:

  • Define your ideal property to the best of your ability.
  • Create a budget for both marketing and purchasing real estate.
  • Determine the state and municipal regulations that govern empty land sales.
  • Choose whether to sell for cash, with seller financing, or both.

2. Direct Mail Marketing

Direct mail marketing is often regarded as the most productive and cost-effective method of finding great deals.

The capacity to discover and arrange the correct data, as well as convey appealing messages to the right people, determines whether a direct mail marketing campaign succeeds or fails.

Decide if you will obtain your list of property owners from a data service or the county.

Prepare a sorted and filtered list for the optimal response rate.

You may use a direct mail service provider to make the process easier, i.e., Vistaprint, Mail Shark, or Every Door Direct Mailer.

3. Process Leads And Make Offers.

Prepare the right systems you need to manage your direct mail campaign.

Install and run a phone system that has a unique voicemail recording to handle calls from sellers.

Establish a purchasing website that allows prospective sellers to send property information to you online.

When replying to leads, make sure to get all needed information to close the deal.

Introduce a system for non-binding offers.

Sending blind offers with your direct mail marketing is one method to do this.

If you must bargain, do so only on properties that are worthwhile, and always ensure that the price is well within the range of what you are prepared to spend.

4. Proper Due Diligence

As soon as your proposals are approved, you must begin conducting your due diligence.

You must perform your own research to gain confidence in your investment.

Make sure to gather all necessary information and double check if all are correct.

Determine the estimated property market value by looking out other similar properties for sale in the area.

5. Close On The Acquisition.

You can close in two ways: through a  real estate attorney/ title company or on your own.

For properties below $5,000, you may conduct a title search on your own to:

Perform an in-house cash closing

Ensure a clear chain of title

For homes worth more than $10,000, you may submit your purchase agreement with your signature to a qualified closing agent and allow them handle the rest.

For properties priced between $5,000 and $10,000, use a hybrid strategy, buying the title insurance and finalizing the deal yourself.

6. Make It Shine.

The majority of properties would require some repair to improve their aesthetics.

Depending on what needs to be done, it could be anything from raking the leaves to a major overhaul.

Others may necessitate land clearing, such as the removal of a stump, weeds or unsightly vegetation, or the placement of proper markers for a future driveway.

The objective is to persuade potential buyers of your property’s value.

7. List, Sell, And Promote.

Once you’ve acquired some properties, the next step for is to sell them!

Some properties sell fast while others don’t. 

The speed with which the transaction occurs is largely influenced by the listing’s quality as well as its location.

Begin by developing an attractive property listing.

High-quality images, a detailed narrative, and, if feasible, a video are needed for a successful listing.

Promote your property listing by posting it in as many places as you can.

Direct your attention on sites where your targeted audience and highest traffic are.

Set a competitive price for your property.

It is also beneficial to provide seller financing, if available.

8. Process Buyer Leads.

If you post your property listings online, you will most likely receive a large number of responses.

Many individuals will not be serious buyers, but they will would want to inquire and that’s a good starting point.

Diligently reply to every comment, call, test, and email.

Because it is impossible to tell whether or not someone is a serious buyer, it is critical to do a follow-up on everyone.

9. Close The Sale.

The closing procedure varies in complexity depending on the following:

  • Buyer
  • Property
  • Applicable state regulations
  • Whether it’s sold on terms or for cash

When you have a buyer that is interested and has committed to you verbally, you must immediately set a closing date.

Depending on the profit margin in the transaction, you might need to hire the services of a title company for the paperwork and closing.

If the profit margin, however, is too small, it can be done in-house.

Once you get the payment, just have the deed signed by the buyer.

Chapter 7: Home Renovation

The Long, Long Game

Speed: 1/ 5 stars

Risk: 0.5/ 5 stars

If you have a property and intend to sell it in the future, there is no better strategy to boost your potential ROI than by updating or remodeling it.

This investment has the potential to dramatically improve your selling price, or it could improve your everyday life while living there. 

We gave this approach one star for speed and a half star for risk because selling might be a long way down the line.

Improvements That Give The Best ROI

The truth is your house may be your most valuable investment.

If some parts of your house are old or require replacement or repair, some of those upgrades may have a direct influence on your property value.

The following are some house renovations that will easily increase your home value:

  • Replace the siding on your house.
  • Replace your old roof.
  • Install new windows.

Modify minor aspects of your bathroom or kitchen, such as replacing worktops with granite, etc.

Note that there is no need to spend a lot to experience a significant increase in your property value.

Chapter 8: Online Savings Account

ROI In A Lifetime

Speed: 0/5 stars

Risk: 0/ 5 stars

Online savings account are the most common method, to the point where there would be no ROI if it weren’t for the online accounts’ better interest rates.

It’s essentially because the speed suggests that this isn’t a worthwhile investment.

Because obtaining a double ROI would take longer, we gave it zero points for speed.

However, we rated it zero stars for risk as it is one of the safest ways to invest.

2-Step Savings Method

  1. Explore your alternatives. Online savings accounts may provide higher interest rates than those offered by your local bank.  Check to see if the bank is FDIC-insured. Be careful to read the fine print regarding withdrawals; you wouldn’t want your money inaccessible when you need it.
  2. Begin depositing funds into the account of your choice.
  3. Putting your money on a CIT bank is one great way to open a savings account. You will be charged 0.40 percent in interest.

Chapter 9: Invest In A CD

Singing Not Required

Speed: 1/ 5 stars

Risk: 1/ 5 star

A certificate of deposit (CD) is one of the most secure investments available today.

With a specified timeframe, your investment gets a small percentage over its maturity.

We gave it one (1) rating for speed to ROI and also risk because of an approach described below.

1. Find The Right Institution.

Banks and credit unions are insured by the FDIC and the NCUA, respectively.

If an insured institution has your CD, you’ll be covered by insurance to its full extent as permitted by law.

2. Pick The Right Term.

When you open a CD, one important decision you must make is the term length with which you wish your investment to be locked up for.

If you want to earn a higher interest rate, you would then need to allow for longer term length.

3. Choose Your Type.

There are several different types of CD’s, they are not one-size-fits-all. Find out which one works best for you. There are traditional CDs, bump up CDs, liquid CDs, zero-coupon CDs, to name a few.

4. Review Rates.

As soon as you know the type and term length of your CD, you should look into the rates offered by several banks.

5. Options For Collecting Payments

Determine when you want to receive your interest payments.

When collecting your interest payments, you have several alternatives.

You could collect on a monthly basis or annually.

Once your term ends, your initial investment will be returned to you, as well as your final interest payment.

6. Consider Laddering.

While CD investing has its share of downsides, one approach to mitigate them is to utilize a strategy known as laddering.

Laddering is a method that allows your money to be accessed on a regular basis while also protecting you from rising interest rates.

Laddering is a lot easier than you think.

Rather than putting all of your money in a single CD, split it into equal portions and invest each in CDs with different terms.

Laddering provides the following advantages:

  • When a CD matures, you get access to your money without any penalty.
  • Because a percentage of your money will be put in a long-term CD, you will have access to higher interest rates.
  • When you decide to reinvest, you might get better returns provided there are higher interest rates.

7. Fund The CD.

Select the best financing strategy or source for you.

You have the option of transferring funds online, over the phone, or by mailing a check.

Chapter 10: Mutual Funds

How To Make Money With All Your Friends

Speed: 1/ 5 stars

Risk: 1-2/ 5 stars

If you’re a beginner, investing in mutual fund is one of the best options for you.

We assigned one star to the potential return speed, then a variable one to two for risk.

1. Go With The Grain Or Against It.

Choose whether you want to go for a passively managed or actively managed mutual fund.

When making a decision, you should consider if you want to outperform or replicate the market.

2. Calculate Your Budget.

Note that the rule of thumb is to feel safe with your money untouched for a minimum of five years.

Here are a few more questions to assist you in calculating your budget:

  • How much money is required to get started? Mutual fund companies usually set a minimum deposit to create an account and begin investing. With brokers, however, they are no required minimum. Others  may vary from $500 to $3,000.
  • What should I do with that money? What is the best fund mix for you? This is heavily influenced by age. If you are close to  retirement, the more you value investments that give priority to capital preservation over earnings. Younger investor, on the other hand, have a lot of time to opt for riskier investments.

3. Research Fun For The Mutual Fund.

You’ll need a brokerage account just like when you invest in stocks. And there are some alternatives you can choose from with mutual funds.

If you have a 401(k), chances are you have started mutual funds investing.

Another alternative is to directly purchase the funds from the fund’s creator, i.e., BlackRock Funds or Vanguard.

A lot of investors opt for the third alternative, which is to buy via an online brokerage.

The advantage of purchasing through an online brokerage is that they provide a diverse selection of mutual funds from a variety of companies.

If you choose an online brokerage, keep the following points in mind:

  • Affordability
  • Fund choices
  • Research and educational tools
  • Ease of Use

4. Minimize Your Fees.

It’s usually a good idea to keep fund charges and fees to a minimum because if you don’t, they might end up eating into your returns.

In general, you want expense ratios that are less than 1%.

5. Pick A Diversified Portfolio.

It is critical to have funds in several investments.

There is no diversification if you hold five separate funds, yet they all are the same investment.

It’s the same as if you owned a single bigger fund.

You want your money to be invested in things like equities, bonds, real estate, and so on. Rebalancing your portfolio once every year is another method to keep it diversified.

For example, if one portion of your assets made significant profits and now accounts for a larger portion of the pie, you may look into selling some of the gains and putting in another area to restore the balance.

6. Find A Family of Funds.

Look for a business that provides a family of funds that fits you.

The cheapest approach to open an account is to directly do it with the fund firm that sells shares.

If you can get a business that provides a family of funds, it will make your life a lot easier.

7. Invest And Monitor.

Invest in a mutual fund.

The fund should then be monitored to ensure that it is balanced.

Your work doesn’t stop after you have chosen a fund and invested in it.

To ensure that everything is operating well, you must continue monitoring it.

Note that previous performance is not an indicator of future success.

Final Words

All the methods discussed above are all great options to double your money depending on your preferences and circumstances.

But while these are all great, you also need to consider setting aside some of it in an emergency fund.

If you have an emergency fund, that will prevent you from liquidating investment accounts to address the problem. And when that account is protected, $10k is more than sufficient to get your feet wet in the financial world.

Before you invest, keep the following points in mind:

  • Did you get a retirement account? If yes, do you make the maximum contribution?
  • How much is your credit card debt, if any? What about student loans?
  • Do you know what mutual funds, robo advisors, and stocks are all about?
  • Are you up for something out of the ordinary?

Lastly, if you are just a beginner in investing, no one could help you better than a certified financial planner. Trust me, it will go a long way.

What Is Our Top Recommendation For Making Money In 2021?

Our review team has come across a program in the real estate industry that is next level!

Although it’s not real estate in the traditional sense, it’s all digital.

Yup, Digital Real Estate!

With digital real estate, you have the opportunity to completely walk away from your 9-5 job!

Sound too good to be true?

Of course it does!

But it isn’t…in fact, business owners wish they had this skill!

What exactly is the skill?

Well, basically you are acting as a conduit for small business to increase their bottom line.

What I mean is…

You are helping these businesses grow!

But how?

All you have to do is build and rank a website and forward certain jobs off to a business owner in town, you could even email it to them!

This works for literally any service based business… ie: tree service, plumbing, towing, etc. 

How do you get paid and how much?

Simple, after you forward the jobs off to a business owner and he makes some money off of them, you simply ask to make the deal beneficial for each other.

A fair price to charge per lead, depending on the industry is 10-20%…let’s just use the tree service industry for example and go by worst case scenario.

Let’s say you build and rank the site and only 20 jobs a month come in. The average tree service job is anywhere from $500-$2000!

That means at bare minimum you have an asset worth $1000 a month!

See why they call it digital real estate now?

That’s a rent payment. 

The great thing is how easy it is to scale. You don’t have to answer the phone…all you have to do is get the phone to ring.

Truly passive income!

The training program takes making money online to a whole other level. The owner of the program walks you through how to build and rank a site hand in hand, with the occasional voice over when he is sharing his screen.

You will learn the importance of keywords, website name, how to send call notifications via email, backlinking, etc.

Once the training program is completed you will also have access to a Facebook group where you can ask questions and be in a community with others on the same journey as you.

Digital real estate allows you to have passive income with most of your day being spent OUT of the brick and mortar landscape.

Now, I know you probably have tons of questions… 

So, check this out to learn more.

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