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It's an app that lets you become a partner in real estate deals. Interested in real estate investments? Check out CrowdStreet. So.what can you do with 1000 dollars? You can invest in real estate! And, you don't have any of the tenant hassle either! So, you can still get the benefit of the returns in Real Estate, but you're reducing the risk. This is simply many REITs in one single investment. What I like better than one individual REIT is a REIT Index Fund.
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The value could wildly fluctuate up or down depending on how that single company is performing. If you invest in a particular REIT, it can be fairly risky. Put simply, a REIT is a company that owns, operates, or finances income-generating real estate.īy investing in a REIT, you're investing in the company that is trying to make money in the real estate world. You can invest in REITs! But wait.what are REITs? And are REITs a good investment? If you like real estate, but only have a thousand bucks, you don't necessarily have to wait. What is it that you do? What do you know? And then what makes sense for you to invest in? Find your answers to these questions, and you could quickly start earning some serious money with your $1,000 dollars! What's in your lane? How can you turn money into more money?
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Then, I could continue to grow this income source if I wanted to, or put it on auto-pilot and just watch the earnings roll in. This $1,000 deal could easily turn into $10,000 in just one year's time. I could map this up and estimate the payback time-frame quite quickly! I know all about growing a fan-base and monetizing a personal finance blog! Plus, in my day-job I evaluate business ideas all the time.
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Plus it has 10,000 visitors a month through SEO traffic. It doesn't earn any money, but it has some history and a great domain name. Instead of a ruby, let's say someone wanted to sell me their personal finance blog for $1,000. I don't know anything about rubies! Even if I took it to the jeweller and they said it was legit, I probably still shouldn't buy it because I wouldn't know what to do with it once I had it! What to do with an extra $1000 dollars - An example of me staying in my lane It's worth $5,000, but they are hard up for money and need to sell it immediately. Let's say someone comes up to my door, and they have a rare ruby. I'm a dad with two kiddos and am a husband to a one-of-a-kind beautiful wife. Back in the day, I was a financial analyst by day, and a personal finance blogger by night. Plan to grow your money slowly and learn along the way. My advice on how to make money with money: You're wondering, "How can I turn my money into more money?" Instead of putting your $1,000 into savings or spending it on something fun, you're thinking about investing. If, on the other hand, you're a millionaire and you're on the path to retiring early, then it would be just fine to blow $1,000. I would start investing that 1k and focus on how to use that money to earn more money! More on this in the next few sections below! In this case, I wouldn't spend that money foolishly. You're just wondering what to do with an extra $1000 dollars. Let's say your only debt is your house, and you already have a beefy emergency fund. If you've got $1,000, you can definitely use that to earn more money! What to do with 1000 dollars if you don't have debt I've been conjuring up business ideas for decades now. When I got older, I started a blog (yeah, this one!)Īnd, I even had a bit of a lawn mowing business I started buying in bulk and reselling product at age 8Īt age 12, I built cabinets and sold them at a local flea market for 92% profit margins If you know me at all, you know that I've been hustling for money for YEARS.