One thing we can all agree on: Making extra money is always a good thing.
Are you looking for another money-flipping strategy to figure out how to double 20k quickly? Then you'll love this advanced step-by-step guide on how to double 20k quickly.
I mean, do you want to turn $20,000 to $40,000 fast? You can do it by following the various money flipping methods in this article.
There are legitimate money flipping methods you can follow, which allow you to earn a bigger amount of money from the smaller amount of money you put as initial capital.
Of course, you can also expand on these ideas and start your own business. Whatever you end up doing, this guide will give you the 25 legitimate ways to double 20k quickly.
How to Double 20k Quickly
Before delving into the various money flipping methods, you need to know that not all money flipping methods are legal.
There are still quite a lot of illegal money flipping methods you can find both online and offline, which the scammers would be persistent to promote.
These illegal methods are something you will need to avoid at all costs, as they will not give you any return on your investment. Instead, they will only drain your money away.
The legitimate and trustworthy methods to double your money involve investing your money in a certain legitimate investment platform or business model. Nowadays, there are many business models that you can use to earn big money just with small initial capital.
Online businesses today are booming because they have low overhead costs, and anybody can do it in the comfort of their own home. So, let’s get deeper into how you can double 20k quickly and how you can do it in tried-and-true ways.
Related: How to Double 10K Quickly Without Losing Money
What Is Money Flipping? How to Flip Money?
Money flipping is the method of turning a small amount of money into a bigger amount of money. You can do it in various ways, as there are many opportunities for you to flip your money, and often, you will need to follow a certain business model to make it happen.
For instance, investing is a type of money flipping method where you put a small amount of money, wait for a certain period, and earn your profits from the growing value of your investment.
You can also flip money by following various business models, such as real estate flipping, book flipping, retail arbitrage, using various investment platforms, and many others.
With the fast growth of technology today, there will be even more opportunities you can take to flip your money in legitimate ways.
How to Double 20K Quickly Legally Online
There are various methods you can use to flip money in legitimate ways online, and these methods will involve using a small amount of your money to get an even better return for your investment.
Flipping money with legal methods will keep your money safe, as you will only follow the methods that are legal in your country.
Here are some methods you can use to double 20k quickly:
1. How to flip money with domain names
Have you ever heard of people buying and selling domain names?
You can literally make money overnight by doing so.
This happened to me — I purchased a domain last month on GoDaddy Auction, and spent around $3,000 on it or so. It had a great backlink profile and I was planning on using it.
A few days later, the original owner of the domain contacted me and offered to buy back their domain and I sold it for 30K!
Now, this is not always the norm — but you can flip money with domain names by using this simple strategy. Most regular domain names will cost around $10-$20 per year.
But you will need to find the domain names that are exceptional and valuable for businesses that have a great backlink profile.
You can check the strength of a domain by using sites like Ahrefs.
Then, you will need to register these domain names and sell them as premium domain names.
You can sell these premium domain names for thousands of dollars if you can pick the right domain names.
So, it’s important for you to find the domain names businesses will use, which will give you the higher chance to get your domain names sold to these businesses.
2. Flip money with an online business
Nowadays, it’s quite easy for you to build an online business. You can monetize the skills you have and you can delve into various business models that you can operate online.
For instance, you can enter the eCommerce market and create your own online store there. There are many products you can sell in your online store, which is a great way for you to flip your money to earn bigger profits.
You can also start with selling your own used stuff to gather the capital you need to sell more products in your online store. You can buy 20k in goods and flip it for 40k in profit if you master the art of eCommerce.
3. Flipping iPhones for major profit
Want to know my favorite money-flipping strategy to flip your money today?
Did you know that you can make $13,653.48 (or more) extra a year just by flipping cell phones on a monthly basis?
There are a lot of ways to make supplemental income outside of your 9-5 job, trust me, I have looked into over 100 different creative side hustles to make money and stop being broke.
One of the more profitable ways I’ve found is buying and selling iPhones for a profit. The concept is really simple, buy low and sell high.
In November, I flipped 10 iPhones at an average of $103.44 of profit per cell phone. That netted me a profit of $1,137.79 of profit for 1 months work. That’s enough to pay for rent or your mortgage in most places in the US.
At that rate, an extra $13,653.48 per year is a great supplemental income.
Not bad, right?
As with anything in life, it’s not an easy thing to do and is at times very challenging.
I actually detailed how I did it and you’ll learn how to make money simply by buying and reselling cell phones for a profit.
If you're interested then you’ll love this advanced step-by-step guide on how to make money flipping phones, or iPhones specifically (it is a long cell phone flipping guide but read to the very end and I promise you it will be worth it).
4. Double 20k quickly with real estate investing
You’re in for a treat once you learn about the best real estate apps that every investor needs on their phone if they want to flip their money with real estate.
Technology has so many applications nowadays. It’s difficult to find an industry that’s not influenced by the advancements in technology.
The real estate sector has undergone many changes because of technological progress. It’s now common to see buyers browsing the Internet for properties. Realtors utilize social media and online marketing strategies to grow their network and engage clients. Real estate transactions can be initiated and completed using a mobile device.
Without a doubt, technology has changed the real estate industry in so many ways.
One of the top players in the game that has emerged is Fundrise. Fundrise is the platform that allows you to invest in real estate without having to invest millions of dollars.
It’s a low-cost way for you to get into real estate investment, and you can also get various benefits when you decide to invest your money on this platform.
You can actually get started with only $10 and start making money on autopilot daily. If you want to double 20k quickly, you'll want to invest 20k into real estate and you can double your money over time.
With the real estate properties that keep on rising year by year, you can expect your investment to grow every year, with up to 73% return after 6 years.
Make your money work for you with Fundrise! Start real estate investing with just $10—no need for big bucks to get in. Fundrise gives you access to funds built to grow your money steadily. It’s easy, affordable, and designed for your goals. Want to let your cash hustle for you? Fundrise has you covered.
5. Flip your spare change with Acorns
Micro investment platforms aim to assist everyday consumers with making a habit of saving money in a ‘painless’ way, also to attempt to get the best returns on investment in the open market.
Typically, the platforms provide a combination of online budgeting tools and trackers, investment opportunities in financial and real estate markets with no or low minimum amount requirements, also investment education, support, and advice.
The rationale is that over time the smallest regular amounts can accumulate and build up to become larger sums.
Also, as investors’ market experience, skills, and confidence grow, it’s possible for them to eventually evolve into becoming successful mainstream participants.
Micro investing apps typically also aim to keep the costs to customers low so that their savings amounts can grow as quickly as possible.
One of the best apps to consider flipping your spare change and micro investing is Acorns. Acorns is an investment platform that allows you to invest your spare change and grow your investment from there.
It allows you to invest as little as $3 per month, and you can watch your investment grow from month to month.
Also, this platform has the 256-bit encryption and two-factor authentication that allows you to secure your investment and keep it safe from any potential cyberattacks. It also provides you with various other investment options you can take right from the Acorns app.
Start investing effortlessly with Acorns! Turn your spare change into investments, making it simple for anyone to build wealth over time. Set up automatic contributions, sit back, and watch your money grow. Plus, get a $20 bonus when you open a new account and start recurring investments.
6. How to flip money with active investing with SoFi Invest
Not everyone wants a robo advisor doing the investing for them and may prefer learning how invest $500 and double it for themselves.
The good thing is that there are plenty of online brokers to choose from. Most beginners opt for apps like Robinhood to get started because they make things so easy.
Whatever broke you choose, the most simple kind of investment is buying individual stocks and is definitely another route to go.
While this can be the riskiest investment since many decisions are made on your own, it can also be the best way to flip $500 into tens of thousands of dollars.
If you have a strategic financial mindset, you should do some research about different small investment ideas and the best practices for you. Start with ensuring that you are financially stable enough to be making stock investments.
This means having minimal debt and paid off credit cards. Then, look into different brokers online that can help you buy stocks. Each platform will have different pricing packages and fees to make orders.
SoFi Invest provides various investment options that you can take depending on your investment budget, which includes active investing, IPO investing, retirement accounts, crypto, fractional shares, ETFs, and automated investment.
You can put your money on your SoFi Investment account and watch your money grow. It also offers a sign-up bonus of up to $1,000 with no purchase necessary.
Be sure to keep track of your stocks as well by checking them frequently. Try not to get too emotionally invested in the ups and downs of your certain stocks. Just stay knowledgeable about how they are performing so you can make smart choices on when to buy more or sell.
SoFi Invest is one of the best investment apps, especially for beginners in the US. It offers an intuitive trading experience, active or automated investing, and options like cryptocurrencies. SoFi Invest offers a variety of investment options, including stocks, bonds, fractional shares, ETFs, options, IPOs, crypto trading, retirement accounts, and robo-advising.
7. Become a flea market flipper
You can flip your money by becoming a flea market flipper, so you will go to various yard sales or flea markets, buy the products offered there for cheap, and then resell the products online for a big profit.
Sometimes, you will find plenty of valuable products that are available for less than $5, which the owners just want to throw away.
These are the products you will sell for bigger profits online. For a start, you can just look around the neighborhood on Sunday or during the holidays, as people often open garage sales or yard sales around this time.
8. How to flip money with banking bonuses
Could you benefit from a new checking account in your life that offers so many more perks than traditional banks?
Certain banks will offer you bank bonuses if you can meet the bank’s requirements.
For instance, the Chase Total Checking® account offers a $300 bank bonus and remains a top choice as it’s the most popular account from one of the country’s best banks.
With over 4,700 branch locations, 15,000 ATMs, and a highly-rated mobile app, you’ll have ample access to your money.
Opening a new account is a breeze with the online application, and earning the $300 bonus is simple: receive a qualifying direct deposit within 90 days, and Chase will credit the reward within 15 days.
While the account comes with a $12 monthly maintenance fee, it can be waived through various means, such as maintaining a minimum daily balance of $1,500 or making at least $500 in electronic deposits each month.
As long as you can avoid the maintenance fee, we highly recommend seizing this legit cash bonus from Chase!
Open a Chase Total Checking® account and earn a $300 bonus after meeting simple requirements. This offer is available for a limited time only, so don’t miss out on this exclusive opportunity!
- Largest bank in the U.S.
- More than 15,000 ATMs and 4,700 physical locations
- New customers can qualify for a $300 intro bonus
- User-friendly online and mobile banking tools
- No minimum deposit to open
- Chase Overdraft Assist and Zero Liability Protection
- $12 monthly maintenance fee that can be waived
9. Flip money by doing market research with Survey Junkie
Are you in need of some extra cash? Have you ever wondered — do paid surveys really work?
Money is tight these days, and with all of life’s expenses, every penny counts. If you look online for the best ways to earn money fast, you’ll come across something called paid market research companies or survey sites.
Survey Junkie is a platform that allows you to help businesses perform their market research projects. You will receive questions from various popular brands as surveys, and you need to complete these surveys to earn points.
Then, you can convert your points to various rewards, including cash rewards. With Survey Junkie, it’s possible for you to earn money by helping companies understand more about what you think of their products. It's that simple.
Survey Junkie is one of the highest-paying survey sites available. Complete three or more surveys a day, and you can earn as much as $100 monthly. With $76 Million paid out to date, Survey Junkie is one of the best survey sites available.
We know fine art can cost a lot of money to purchase, such as classic paintings and sculptures. Masterworks is the platform that allows you to invest in fine art.
With the price of fine art that keeps on increasing, you can put a much smaller amount of money to invest on the fine art available on this platform.
You will get the shares just like when you buy stocks in the stock market, with the only difference being that you own the shares for the fine arts you invest in on Masterworks.
- Fractional ownership of fine artwork
- You can invest directly in listing by Masterworks
- You can buy and sell your shares in pieces on the secondary market
- There are no minimums
8. Try blog or website flipping for money with Flippa
With Flippa, you can sell your blog, website, app, or online business and get a nice sum of profit from your transaction.
To succeed with Flippa, you need to build your blog or website from scratch, putting relevant content into it and increasing the rank of the blog or website on search engine results pages (SERPs).
You'll definitely want to put some ads on your blog or website and let it earn some money before you sell it.
You can sell the blog or website after it is earning some money per month, and you can put a bigger price tag on it depending on your blog or website’s earnings.
Just like traders’ paper trade before the real thing, you can simulate website investing before the real thing.
How? Simple. Follow along on Flippa or another marketplace as websites are sold. If you're in need of some guidance, consider reading our ultimate guide on how to make money buying and selling websites.
Flippa is a global online marketplace where individuals and business owners buy and sell websites, online businesses and other digital real estate.
11. Flip money by referring people to Swagbucks
Swagbucks is a platform that allows you to earn money by completing certain tasks, watching videos, doing some online shopping, playing game apps to win real money, answering surveys, searching the web, and so on.
There are various tasks you can complete on this platform, which can only take a few minutes for you to do. You will earn points after completing the tasks, and then you can accumulate your points to trade them with rewards.
The rewards you can get include cash, gift cards, coupons, and others. You can use this platform on the web and iOS and Android devices.
Swagbucks offers a variety of ways to earn money online. You can take surveys, play games, surf the web, watch videos and more to earn points towards gift cards or cash.
12. How to flip money with delivery jobs like DoorDash
DoorDash is a platform that allows you to find restaurants and get the foods delivered to your door by the Dashers.
Dashers are the people who spend their time completing delivery jobs from restaurants that have partnerships with DoorDash.
You can earn money by joining the DoorDash platform in your spare time, accepting delivery jobs and getting paid for each food order you have delivered to the customers. It is one of the top gig economy jobs to make extra money on the side.
Earn extra money for your short-term or long-term dreams with DoorDash. As a Dasher, you can be your own boss and enjoy the flexibility of choosing when, where, and how much you earn. All you need is a mode of transportation and a smartphone to start making money. It’s that simple.
13. Flip money by lowering your bills with Rocket Money
Rocket Money is the platform that allows you to track all your subscription services and provide detailed insights about your spending.
With Rocket Money, you can track the subscription services that you don’t use a lot and end them. You can also manage your money with the budgeting tool you can use on the Rocket Money app.
Not only that, this platform helps you to check your credit scores and create the autopilot savings plan.
With Rocket Money, you can take back the money you have wasted on useless subscriptions and take control of your financial life.
Rocket Money helps 3.4+ million members save hundreds. Get the app and start saving today. Save more, spend less, and take back control of your financial life.
14. Flip items with retail arbitrage
Retail arbitrage means you are buying items from your local stores and then sell them online for a bigger profit. Not all items are available online, and your local stores might have some items unique to your area, which are not available everywhere else.
You can buy such items and sell them online for a profit. You can earn plenty of money if you can find various cool and unique items in your local store, which you can then resell in your online store.
Many people have achieved success with this business model, and it’s still generating profits even in 2022.
15. Flip your knowledge and skills for money
There are various opportunities you can take to flip your knowledge and skills for money. For instance, you can share your knowledge by creating online courses about the things you are expert for.
Then, you can sell your online courses to online education platforms like Udemy. You can also use your skills to make money online by offering various services on online freelancing platforms, such as Fiverr, Freelancer.com, Guru.com, and so on.
You can determine your own pricing and how you would like to deliver your services to your clients.
Easy Ways to Flip Money Offline
Aside from the different methods of flipping money online, you can also flip money offline by following certain business strategies that allow you to invest small money to earn big money.
Flipping money offline is still as popular as the online methods, so it’s worth trying out. You can flip money offline in different ways.
Here are some easy ways to flip money offline:
16. Flip storage space for money
Another interesting business model is to flip storage space for money. Nowadays, people will have no problem paying to get an extra storage space.
Those who have too many things in their home might want to store some of their stuff in an external storage space, which you can provide for them.
You can turn any empty room, empty basement, or empty warehouse and turn them into a storage facility for those who would like to store their stuff. This business model can give you a good passive income potential.
17. Fix and flip real estate
Fixing and flipping real estate is perhaps one of the most common methods you can use to double 20k quickly without breaking the laws.
In this method, you will need to find a broken property, such as a house or a business establishment, purchase that property, fix it, and sell it for a higher price.
The difference in price between a broken property and renovated property will be high enough for you to take as your profit margin.
You can even stay in the property you are about to sell while waiting for the buyer for that property, which can help you save even more money.
18. How to flip money with rental properties
Flipping money with rental properties is almost the same as flipping real estate property. When you flip rental properties, you will buy a broken rental property, fix it, and then rent it to other people with a bigger rental price.
For instance, if the broken property is a rental property with $100 rental price per month, you can buy it and renovate it, and then rent the same property for a bigger price, such as $200 or more per month.
You can also buy the broken rental property from the owner as a mortgage, making it a better deal for you in the long term.
19. Flip land for money to double 20k quickly
Did you know there are some states that offer free land? Even if you can't find free land near you, plipping land for money has to do with buying a piece of land for cheap, cultivating the land, and then selling the land for a bigger price.
There are various methods you can use to flip land for money, as the land will give you plenty of benefits. You can cultivate the land by planting various crops, build a business for it, and then sell it alongside your business.
You can also use the land to build a real estate property and sell the land along with the property to the buyers. There are still many other methods you can use to make money out of the land you have bought.
20. Flip vehicles for cash
You can also flip vehicles for cash. The idea is to buy a broken vehicle that still has the chance to get repaired, and then repair the vehicle before you resell it.
The vehicle can be anything, from classic cars, motorcycles, trucks, RVs, and so on. When these vehicles are available for cheap, you will buy them, repair them, and resell them.
You will need to repair these vehicles so that they are in good working condition, and you need to partner up with an excellent car repair shop for this business strategy to work well.
21. Flip a spare room
Do you have a spare room you are not using? You can flip your spare room and then rent it to college students or office workers who need a place to stay.
You can renovate your spare room and make it as comfortable as possible for your potential renters. Then, you can add various new features to your spare room, such as television, media player, and others, to make it even more appealing for the potential renters.
Then, you can charge the tenants the renting price per month, per 3 months, or per year to stay in your spare room. This way, you can earn some easy passive income.
22. How to flip money selling books
Books are the commodity that you can sell with ease nowadays, as people are always looking for something good to read.
You can make money selling books, and you can do it in various ways. For instance, you can buy used books in your local bookstore and sell them online.
You can also buy used books from various online retailers and sell them in your local area. There are many things you can do to make money selling books, and the more categories you offer for your books, the better it will be for you to make money from this business.
23. Flip clothes
Just like flipping books, you can also buy used clothes and sell them back for a profit. Used clothes, such as those from popular brands, are in demand right now. You can buy used clothes from overseas in bulk, which will come cheaper than buying in retail, and you can sell the used clothes in your local area.
Also, you can buy affordable new clothes from local brands or consignment stores and sell them online. Another method to flip clothes is to print your own clothing items, build your own brand, and sell them in your online store.
24. Flip furniture for cash
Many people will sell their furniture when they plan to move out of their house or replace their furniture with new ones. You can take this opportunity to flip furniture for cash with a simple strategy.
You just need to find people who would like to sell their furniture near you, offer them a reasonable price, and resell the furniture for a profit.
However, before reselling the furniture, you need to inspect for any defects or damages that the furniture has, and then you will need to repair it first. Make sure that you are selling the furniture in the best condition possible to maximize your earnings in this business.
25. Flip shoes
Shoes are also a valuable commodity you can resell for a profit. There are various branded shoes you can sell to your audience.
Many people will throw away their shoes, such as the older models of branded shoes, and you might find them for a cheap price.
To flip shoes, you will need to buy used branded shoes for cheap, which are often in damaged condition, and then try to restore the shoes before reselling them.
There are various shoe restoration techniques you can apply to make the shoes look like new again. You should aim to buy and sell branded shoes, both new and older models, as these shoes will always be in demand.
Money Flipping Scams to Avoid
Remember, there are various methods to flip money in legitimate ways, but there are also some money flipping methods you need to stay away from.
Some money flipping methods are scams, and when you take part in money flipping scams, you will end up losing plenty of money and getting no results.
Worst, you will end up dealing with the authorities.
Here are money flipping scams to avoid:
Pyramid or Ponzi schemes
Pyramid or Ponzi schemes will require you to build a membership-type business model where the lower members need to pay money to higher members within the pyramid scheme.
For you to earn money from the Ponzi scheme, you will need to recruit new members and get them to pay you.
The Pyramid or Ponzi schemes can work with or without products for you to sell.
In this scheme, only those who are at the top of the pyramid will get the most money, while the lower members will get left with nothing, unless they recruit more new members.
Cash App money flip scams
Cash App is a financial platform that allows you to send and receive money with ease using $cashtag. It works similar to PayPal, and with this platform, you can manage your finances and invest your money there.
However, with the popularity of Cash App, many unscrupulous people are trying to create money flip scams, which lure people to send their money to another Cash App user with a promise of a bigger profit.
They will send messages like “Send your $50 to this $cashtag and receive $500 in your Cash App account right away.”
Some people ended up trying to send their money and not receiving anything in return, not even any response from the receiver. You need to avoid this type of Cash App money flip scams.
Wire transfer scams/check deposit scams
Wire transfer scams and check deposit scams are also common methods scammers will use to take money out of their victims.
With the wire transfer scams and check deposit scams, somebody from overseas will ask you to transfer a certain amount of money via wire transfer or check deposit.
They might give you some promises, such as returning the money for a bigger amount after you’ve completed your transfer. They will ask you for the confirmation code before transferring, and you will end up giving your money away to the scammers.
Money flipping scams involving gift cards or prepaid debit cards
This is a type of Cash App flipping scams. The scammer will try to ask people to send them a gift card for a bigger money on their Cash App.
The scammer can also ask the potential victim to send a smaller amount of money to their debit card account, and they will promise to send back a much bigger amount of cash on their Cash App account.
For instance, the scammer might ask you to send a $50 Amazon gift card, and they will promise to send back $500 to your Cash App.
They might also ask you to send $100 to their debit card account and send back $1,000 in your Cash App account. Don’t follow this type of money flipping scam.
Nowadays, many scammers use various social media platforms to spread their money flipping scams to the gullible people. They will entice their victims to invest in something shady while promising them a huge return on investment in a short time.
For instance, they might entice their potential victims to invest in a certain trading app, while in reality, the app in question is not even a trading app at all. In fact, it’s a gambling app masquerading as a trading app.
Also, the app developer rigged the app to ensure that the members are losing money, so the scammers can get away with all the money the users have deposited into the app. You should avoid any type of shady money flipping scams circulating around social media and use the social media platforms with caution.
Money Flipping FAQs
- Is money flipping legal? Yes, money flipping is legal, as long as you follow the legal business models, such as the ones featured in this guide. However, there are still plenty of money flipping schemes that are illegal to do, and you need to be cautious of these illegal schemes. You need to educate yourself about any potential investment opportunities before putting any money into it.
- Are money flips a real thing? Flipping money is a real thing, and you can follow various business models, such as the ones mentioned in this guide. For instance, you can invest your $100 to buy used books from your local stores, and then sell these books online for a bigger price. If you earn $200 from your book sales, then it means that you have flipped your money from $100 to $200. Pick the money flipping business model that you prefer the most.
- How can I turn $100 into $1,000 fast? You can follow the business models as mentioned in this guide. To turn $100 into $1000 fast, choose a money flipping business model that is in demand today. You need to take the time to analyze the market today and try to offer your products to the market, so you can earn money fast from your product sales. Use the $100 as your initial capital.
- How can I flip money online? You can find ways to flip money online and earn a few hundred dollars if you learn how to flip websites, or more easier ways like sign up for a new bank account that offer cash sign up bonuses.
- What are the best ways to flip cash? You can start anywhere from flea marketing flipping, thrift store flipping or garage sales — to working your way up to house flipping or real estate flipping.
Final thoughts on how to flip money fast
Yes, flipping money is possible. However, you need to understand how to do it in a legitimate way. You don’t want to delve into the illegal and shady money flipping methods you can find in social media, which promise you a high return on your investment.
It’s best for you to follow the legitimate ways as mentioned in this guide to flip your money as fast as possible.
Find the money flipping method you prefer and find the one that suits you best. It’s the best way for you to turn a small investment into a big profit.
