If you have $200, there are countless ways you can invest it, but some are better than others. That's why I put together these methods to grow your money. Let's dig in!
Invest in Real Estate with Arrived
Arrived is an excellent platform for doubling your $200 investment. It works by pooling together funds from multiple investors, you can invest in rental properties with as little as $100. This creates a passive income through rent, while your investment grows due to property appreciation. It's a win win!
When investing with Arrived, you become a vested owner of the property which means you'll have a share in the rental income and property value growth. The platform boasts an average return of 9%, which translates to an increased cash flow and a better chance of doubling your investment.
While it's wise to diversify your investments, consider allocating a portion of your funds to real estate through Arrived.
Invest in Stocks with Acorns
Another excellent way to grow your money is through the stock market. And one of my favorite investing apps is Acorns.
With Acorns, investments can range from stocks, ETFs to REITs, catering to your risk tolerance and financial goals.
While your returns will vary, the average return of the stock market is around 10% annually – which is pretty good!
Download this cheat sheet to learn the best passive income ideas
Invest in Real Estate Debt with Groundfloor
Another great way to invest $200 an double it is by investing in real estate debt.
Groundfloor is a platform that allows for short-term, high-yield investments in real estate loans. When you invest in real estate debt through Groundfloor, you're essentially lending money to real estate developers or investors who need funds for their projects. These loans are typically secured by the property itself, adding a layer of security to your investment.
The returns on these investments can exceed 10% in many cases, making it a worthwhile investment ans great way to turn your money into more money.
Start a Business
Starting a business can be an excellent option to double your money in 15 days or less in some cases.
While it will take a significant amount of work, it's completely possible – and worth it!
The first step involves identifying a niche or service that has low overhead costs but high demand. For instance, if you have a talent for crafts, graphic design, or writing, you could offer these services online. Platforms like Etsy for handmade goods, or Fiverr and Upwork for digital services, provide a gateway to reach potential customers without needing a large investment.
Next, you'll need to market your products or services. You can use social media, paid advertising, or other methods to drive customers to your business.
Finally, you'll need to perform the service your business offers or deliver the product you sell.
While the risk of loss exists when starting a business, careful planning and a focus on quality and customer service can help you successfully grow your initial $200 investment into a profitable small business.
Flipping things can be another great way to double $200 fast.
To start, check garage sales and clearance sections at retail stores for low-priced products. Use technology to compare and evaluate items for their resale value. Opt for smart ways, like retail arbitrage, to find high-demand items at lower prices.
Create accounts on platforms like eBay or other online shopping websites to resell your products. Always research the market, ensuring you stay knowledgeable about the items you're flipping.
With dedication and a clear strategy, flipping things can be a profitable side hustle, helping you turn your $200 into double or more.
Open a High Yield Account with Tellus
To easily double your $200, consider opening a high-yield account with Tellus.
This account offers an impressive interest rate of up to 6% APY, which can help your money grow faster.
Unlike traditional bank accounts, Tellus has zero fees and offers more interest than banks, so you can earn even more compound interest.
It's important to note that Tellus is not a bank, so it's not insured by the FDIC – but overall, it's a quality way to grow your money.
Invest in Cryptocurrency with Binance
Cryptocurrency can be a fast way to double $200, but it's much riskier than other methods on my list.
Binance is a popular platform for investing in cryptocurrencies like Bitcoin and Ethereum. To start, create an account, deposit your initial $200, and explore various trading options. Remember, investing in cryptocurrency can be risky, so it's important to assess your risk tolerance and research the financial markets.
With Binance, you can diversify your portfolio by trading in various cryptocurrencies, potentially maximizing your returns. Don't put all your eggs in one basket; instead, carefully consider the risks and benefits of each asset.
Start a Blog
Starting a blog as a business can help you double your $200 investment, but it's going to take some time.
First, set a clear goal and budget for your blog. You'll need to create a user-friendly website and start with engaging content on topics you are knowledgeable about.
You can then advertise your blog through social media and other online platforms to gain an audience. As it gains popularity, you can monetize it by incorporating sponsored posts, affiliate marketing, and ads. This can generate extra cash and turn your initial $200 into a profitable venture.
Remember to stay up-to-date with trends and adapt your blog to cater to the changing demands of online shopping and content creation.
Here's a great video with some tips on starting a blog!
Sell Online Courses
Starting an online course business is a great way to double your $200 if you're willing to put in the work.
First, identify a marketable skill or subject you're knowledgeable in and create engaging content. Use websites like Udemy, Teachable, or Kajabi to host your course.
You can then promote your online course through social media, email campaigns, and collaborating with influencers.
Remember to focus on offering quality content and outstanding customer support to ensure your students get their money's worth and recommend your course to others. This strategy will gradually boost your income while also contributing to the growth of your online business.
Frequently Asked Questions
How can I turn $200 into $400 quickly?
You can consider day trading in the stock market or cryptocurrencies. However, note that day trading comes with risks and requires knowledge of market trends and expertise in trading strategies.
What is the fastest way to double $200 without risk?
There is no guaranteed risk-free way to double your money quickly, but safer options include investing in reliable stocks, bonds, or index funds. It may take longer to double your $200, but these options have less risk compared to day trading or other quick methods.
What guaranteed methods exist to double $200 easily?
Guaranteed methods may not be easy or quick, but options like Series EE Savings Bonds from the U.S. Treasury can ensure that your investment doubles. Keep in mind that the current yield is low, and it will take time to reach this goal.
There are plenty of ways to double 200 dollars, but I recommend sticking to proven methods like investing in real estate and the stock market.
If you want to double your money faster, you can try methods like cryptocurrency or starting a business – but these come with more risk.
Download this cheat sheet to learn the best passive income ideas