Are you looking for ways to grow your money? If you're like most people, you want to increase your income but you may not have a lot of extra time to devote to learning about and then implementing different money-growing strategies.
You're also looking for faster ways to do this than putting all your savings in the bank or investing in the traditional stock market.
If you're looking for a way to really jump-start your savings or simply want to find a new way to multiply your money fast, flipping money could be the perfect option for you. But how do you exactly flip money?
Lucky for you, there are several ways to flip your income. We've done the research and compiled different ways how you can flip money legally without falling into scams or pyramid schemes.
Keep reading to learn more about flipping money and find out the best ways to get started!
What Is Flipping Money?
Flipping money is the practice of using your money to grow your wealth quickly.
This can be done through investing in high-growth assets, such as real estate or cryptocurrency, or through taking advantage of short-term opportunities in the financial markets.
Of course, there’s always risk involved when you're flipping money. The key is to minimize your risk by being smart about your investments and having a solid plan.
Many people make the mistake of thinking that they can simply put their money into any old investment and see it grow rapidly – but this is rarely the case.
To be successful at flipping money, you need to have a good understanding of where to invest your capital and how to maximize your returns.
There’s also a misconception that you need to have an insurmountable amount of money to start flipping.
But the reality is that even with just a few hundred dollars, you can start flipping money and earn a good return on your investment.
Now that you understand what flipping money is, let's take a look at some of the best ways to flip your money legally.
1. Retail ArbitrageÂ
- Budget Needed – $50+
- Projected Profit – 20% to 300%
The basic idea of retail arbitrage is to buy retail items with constant demand at a low price and sell them online for a higher price.
Clearance items are often priced very low, so they can be resold for a profit. However, the key is to know what sells well and what doesn't.
Once you've found some potential items, check out their selling prices on sites like eBay or Amazon. If the item is selling for more than the clearance cost, then you're likely to make a profit.
One example is a YouTuber who earned $2,500 in one night by purchasing Monopoly boards from a Walmart clearance sale and reselling them on Amazon.
He bought the boards for $19.82 and resold them for $77.29, making a gross profit of $31.61 on each board game.
2. SneakersÂ
- Budget Needed – $100 to $300
- Projected Profit – 100% to 300%
Sneakers have been a hot commodity in recent years, with some pairs selling for thousands of dollars.
If you're able to get your hands on a popular pair of sneakers at a low price or even at retail price, you can resell them for a significant profit.
There are a few ways to do this. The surefire way to get your money back is to wait for a release of a new limited-edition sneaker model and then resell the pair on sites like StockX, which is a marketplace for reselling sneakers.
A pair of Nike Dunks or Yeezy Boost, for instance, can be bought new at a retail price of $100 to $230 and then resold on StockX for double or even triple the amount.
3. Luxury WatchesÂ
- Budget Needed – $5,000+
- Projected Profit – 100% to 500% or more
You have $5,000 but you don't want to invest it in stocks or put it in the bank because you're not sure whether the stock market will crash or not and you're not earning much interest in the bank anyway.
One option would be to invest that $5,000 in a luxury watch.
Luxury watches are amazing investments because the top-tier brands hold their value well and often appreciate over time. This means even if you have used the watch, you can still sell it at a profit.
Two watch brands that historically hold their value are Rolex and Patek Philippe.
For example, a Rolex Oyster Perpetual 41mm with a Turquoise Blue “Tiffany” dial can be bought at retail for $6,100, but because it’s an in-demand watch, it’s being sold in the resale market for over $50,000!
Sometimes, watch brands will come out with affordable models that will be popular enough to resell.
In 2022, Omega and Swatch came out with a collaboration called the MoonSwatch, which is a combination of Omega's Moonwatch and the Bioceramic materials from Swatch.
The watches retailed for $260 but because they were sold out on Day 1, they’re being resold for around $2,000.
4. Designer Bags
- Budget Needed – $1,000 to $10,000+
- Projected Profit – 50% to 100%
Buying and selling designer bags is one way to multiply your money because these fashion items hold their value well.
Bags from brands like Louis Vuitton, Hermes, and Chanel historically hold their value the best. These three brands NEVER put their bags on sale so the value of these bags just increases over time.
Just like luxury watches, the key to making money is to buy these bags at retail and not as a second-hand item. That's because buying these items second-hand is more expensive than buying them at retail.
The challenge is to get your hands on these items because the best designer bags to flip are usually limited edition pieces or you have to be a part of a waiting list.
For example, a Hermes Birkin bag that retails for around $10,000 is often touted as an investment bag. That's because if you're able to buy one at a retail Hermes outlet, you can immediately flip the bag for at least double the amount you paid for.
Even if you use it for a few years, you can still resell it at a profit because the price goes up as time passes. In fact, one report stated that a Hermes Birkin bag outperformed stocks and gold when it comes to being an investment.
5. Websites
- Budget Needed – $100 to $500+
- Projected Profit – 100% to 500% or more
Another way to flip money is by buying and selling websites. You need to find websites that are undervalued and then put in the work to develop them into higher-value properties.
This can be done through a variety of means, such as redesigning the website, improving the content, or adding new features.
Once you've developed the site and attracted more traffic, you can then start selling it for a profit.
This method requires a bit of work on your end so you have to take that into account when setting your selling price. But if you're willing to put in the work, then flipping websites can be a good way to make money.
6. Domain Names
- Budget Needed – $1
- Projected Profit – Set your price
How do you grow your $1 and make money off it? Flipping domain names of course!
Domain flipping is the process of buying and selling domain names for profit. It's a very simple process, but it does require some brainstorming and a bit of patience.
First, you'll need to purchase a domain name that has potential. To do this, you'll need to learn the trends and try to predict which domains will be in demand.
An available domain name usually costs less than a dollar on GoDaddy.com and you can resell it for way more than you bought it.
The value of domain names can reach up to millions of dollars. For instance, the domain name CarInsurance.com is worth $49.7 million while Internet.com is priced at $18 million.
7. Concert and Sports TicketsÂ
- Budget Needed – $50 to $500+
- Projected Profit – 50% to 100% or more
Another way to make quick money is by flipping concert and sports tickets. When it comes to these live events, the number of admission tickets are often limited. So, if you can get a seat that is very in-demand, then you're in a good position to resell it for profit.
To do this, you'll need to be quick and buy the tickets as soon as they go on sale. You can then sell them at a higher price on sites like StubHub or SeatGeek.
There will always be people who may not have had the foresight to buy early and are willing to pay above the selling price.
Check out news articles and social media posts to see which events are trending and will likely have high demand. You don't want to be stuck with tickets that no one wants.
Another method is to buy early and get an early bird rate. You can then sell it for a price that could be lower than the regular rate but still gives you a clean margin.
8. Cryptocurrency
- Budget Needed – $2 minimum
- Projected Profit – Fluctuates
Cryptocurrency has been all the rage in recent years. There are several ways to make money through cryptocurrency.
You can trade it, mine it, or even just hold on to it and wait for the value to increase.
Ultimately, though, success in flipping money through cryptocurrency comes down to one basic principle: buy low and sell high. If you can follow this simple rule, you're guaranteed to make a profit in the world of digital currencies.
Buying low and selling high is not a new concept as it's also the same way with stock trading. But compared to stocks, the fluctuation of cryptocurrency is more volatile. Even so, while the risks are high, the rewards can also be very very high.
Of course, you need to be careful with this method as the prices can go up and down very quickly so it's always important to stay up-to-date on the latest market trends. But if you time it right, you can make a profit.
9. NFTs
- Budget Needed – Depends on the NFT, usually 0.025 ETH
- Projected Profit – 20% or more
NFTs, or non-fungible tokens, are digital assets that are unique and cannot be replaced. They're often used to represent items in video games or online worlds but can really be anything that is digital.
Flipping money through NFT trading is relatively new but is gaining so much traction. In 2021, NFT trading amounted to more than $17 billion, a 21,000% increase from 2020. NFT trading has created many millennial millionaires who were early buyers of these tokens.
But how do you exactly buy and flip NFTs? The most common way is to find trending NFT projects early on and get into the whitelist.
Being on the whitelist means you can have a guaranteed slot in minting an NFT at the initial mint price. You can get into the whitelist by joining the project’s community on Discord and being active to get a slot.
One of the most popular NFT collections is the Bored Ape Yacht Club. In April 2021, the minting price was only 0.08 ETH (around $250). Just one year later, the cheapest BAYC NFT is now listed for 111 ETH (over $350,000), while the most expensive one is selling for $2.9 million.
10. Digital Real Estate
- Budget Needed – $13,000+
- Projected Profit – 100% to 700%
Digital real estate or digital land is a new way of investment that allows you to own a virtual piece of property in an online world.
Right now, the two most popular platforms selling digital land are Sandbox and Decentraland where the cheapest parcel is selling for over $13,000.
But of course, it did not start this way. The surge in prices only started in the past year when prices of digital land increased by 700% making early adopters a lot of money.
If you're thinking of flipping digital land, consider which platform to invest in and which land would be the most profitable. You also need to have a budget as some of these pieces can be quite expensive.
The best way to make money from digital land is to buy early and wait for the value to appreciate. So it's worth it to watch out for new platforms that will be launching soon and getting in early to buy land at a lower price.
11. Thrift Store and Garage Sale ItemsÂ
- Budget Needed – $50 to $100
- Projected Profit – 50% to 200%
This is a more traditional way of flipping money but can still be profitable if done correctly.
The key to making a profit from thrift store items is to buy items that are undervalued and resell them for a higher price.
A lot of times, some sellers don’t realize the value of what they’re selling so you can resell the item at a profit online.
For example, you can check vintage thrift stores for designer clothes and check online how much they’re selling for. This way, you can make a profit without spending a lot of money.
Another way to make money from thrift store flipping is to buy items in bulk and sell them individually. This usually works well for items like books, clothes, and toys. You can also do this with garage sale items.
12. Furniture
- Budget Needed – $50 to $300
- Projected Profit – 50% to 200%
If you have some carpentry and painting skills, consider buying used or cheap and upcycle them.
The key is to look for furniture that is well-made but needs some work. Once you have found the piece, you can refinish it and sell it for a higher price.
To find furniture to flip, you can go to garage sales, thrift stores, or even online marketplaces like Facebook Marketplace and Craigslist.
Some of the best-selling upcycled furniture include chest drawers, dressers, and coffee tables.
If you want to learn how to flip furniture for a profit, there are some helpful online tutorials that can teach you how. Once you have the skills, it's just a matter of finding the right piece of furniture to upcycle.
13. Collectibles
- Budget Needed – Depends on the collectible
- Projected Profit – 50% to 200% or more
Buying collectibles can be an easy way to make money if you know how to find valuable items. The key is to find items that are rare or in demand. Some popular collectibles include sports cards, sports memorabilia, limited edition toys, and comic books.
To find valuable collectibles, you can go to garage sales, thrift stores, and online marketplaces. Make sure you check the item's value first so you know how much it's worth.
You can also buy new collectibles at retail prices by queuing up to buy popular items when they are first released. This can be a surefire way to make money if you're quick enough to get your hands on the item.
14. Antiques
- Budget Needed – Depends on the antique
- Projected Profit – 100% to 500% or more
If you’re a lover of old things, then flipping antiques could be for you. Antiques are best sellers in flea markets for a reason. That's because you can make money by reselling them for a premium price.
The advantage is that with antiques, you won't really need to restore them as they are already valuable in their original condition.
Of course, you’ll need to do some grunt work before you start investing in old things. You wouldn't want to just start buying without knowing if you could actually sell this stuff.
15. PaintingsÂ
- Budget Needed – Depends on the artist
- Projected Profit – 100% or more over time
Art flipping leans toward the more traditional way to invest your money. The idea here is to buy a painting at a low price and wait for it to appreciate over time. Take note that you have to have the patience to wait for the painting to appreciate.
To be successful, you have to be interested in art and know who the up-and-coming artists are. You can then buy their paintings at a low price and resell them when they become more famous.
The upside is that this investment is very low maintenance and you can hang it in your house while waiting for a potential buyer.
The risk, however, is that the artist might never become famous and you’ll be stuck with a painting that you can't sell. This will be a good option though if you’re an art lover yourself.
16. Houses
- Budget Needed – $200,000+
- Projected Profit – 100% or more
Flipping houses involves major cash but if you have the purchasing power, a house is a worthwhile investment.
You can buy a house when the real estate market is down, hold on to it or rent it out until the market recovers, and then sell it for a profit.
This could take a bit more time but if you're not in a hurry, this is a more passive way of growing your money.
If you want a faster return on investment, you can flip houses by buying a fixer-upper. A fixer-upper is a house that has seen better days and needs repair.
This is a more active way to flip houses as it requires more time and effort to fix the house up.
But before buying a fixer-upper, consult a professional to make sure that the cost of repairs is not more than the selling price of the house.
17. Cars
- Budget Needed – $300 to $1,000
- Projected Profit – 100% or more
If you're familiar with the old MTV series “Pimp My Ride,” then you'll understand what we're talking about. You can buy a junker car or scrap for a low price, fix it up, and then resell it.
This method is recommended if you know how to fix up cars yourself. This way, you can save on labor costs. If you’ll depend on third-party mechanics, you might spend more money than what you can earn.
18. Businesses
- Budget Needed – $100,000+
- Projected Profit – 100% or more
You can buy a struggling business, turn it around, and then sell it for a profit. You can consider this if you have the experience and the know-how of running a business.
The advantage is that if you run the business well, it can generate money while you’re operating it yourself.
Of course, this is a high-risk investment as you could end up losing all your money if the business doesn't recover. It will also require some time and effort on your part to revamp the business.
But if you're confident in your abilities, then this could be a brilliant way to make some serious money.
19. GoldÂ
- Budget Needed – around $61 for one gram of gold
- Projected Profit – 5% to 20% per year
Maybe you're wondering, “How can I double my money with minimum risk?”
Buying gold is one option you could explore. Investing in precious metals can ensure that your money will retain its value even in inflationary times.
Gold and silver have been used as currency for centuries and will continue to be valued by people all over the world. This is suitable, especially for people who aren’t comfortable taking risks when flipping money.
Historically, gold prices increase year after year. In 2022, the price of gold is $1,923.70 per ounce.
By 2025, the prediction is that the gold price will rise to $5,000 or more per ounce. But even if you sell the gold only after a few weeks or months when the trend is going up, you can still make some money.
What to Avoid When Flipping Money
Now that we've discussed some of the best ways to flip your money, you should also be aware of some methods that you have to avoid.
- Gambling – Many people turn to gambling as a way to make money quickly. Unfortunately, this is one of the riskiest ways to flip your money. The odds are usually not in your favor and you could end up losing all your hard-earned cash.
- Pyramid and MLM schemes – Another method to avoid is getting involved in pyramid schemes. In a pyramid scheme, people at the top make money by convincing other people to join. These schemes eventually collapse when there are no more people to recruit. Be wary of promises of huge profits without a proper product or service.
- Cash App Scams – These popular Cash App scams promise people that if you send them money through the Cash App, then you will receive double the amount. But of course, this isn’t true and you will end up losing your money.
- Social Media Scams – Maybe you're wondering, “Are Instagram money flips legit?” Unfortunately, the answer is a big NO. Avoid paying for any “get rich quick” scams on social media. These are usually scams designed to take your hard-earned cash. Even if other people are showing proof, these are usually fake, planted accounts.
Flip Money Responsibly and Legitimately
Flipping money is a great way to make some quick cash. Whether you have $1 or hundreds of thousands to invest, you can choose from our list of ways to flip your money legally.
Just always remember that you have to do your research in whatever method you choose and qualify your risks to make sure that you won't lose your hard-earned money.
Aidan has been writing about personal finance for over 6 years. Prior to this, he worked as a Corporate Finance Analyst where he specialized in Due Diligence, Company Valuations and more. He is a CFA charterholder.
