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Want to want to make extra money? In this blog post, you will learn how to flip money in 15 different ways that are legitimate and legal.
Flipping is one of the best ways to make extra money in your spare time. It is not only flexible but can be lucrative as well. Today, I am going to share with you some ways on how to flip money. Some of these methods require a lot more work than others, but all of them can be done by just about anyone who is willing to put in the effort!
So, before we go into the nitty-gritty details of how to flip money, let us first understand what flipping money is all about.
So, what does flip money mean?
According to Investopedia, flipping refers to obtaining an asset for a short period of time and then selling it quickly for a profit. You can imagine flipping as a buying and selling method, but in this case, the asset is often “spruced up” so that it becomes more valuable, which would justify the mark-up from its original price. You have probably heard about flipping houses or second-hand items as some of the classical examples of flipping. This should give you a good idea of the basic concept of how to flip your money.
But there are many ways to flip money, and it’s not just limited to buying and selling physical assets. You will find out later in this article that you can also flip your skills, talent and time, and then make some quick cash from them.
Want to make some cash by learning how to flip money legally? Here are the top ways you can flip for money in 2021.
1. Buy and Sell
First, you’d have to go to your local shops to score some novel and unique items. A lot of flippers go to flea markets, garage sales, thrift stores, and consignment shops to find potential items to flip. Once they’ve found the right products, they can list these up on eBay or their online stores, selling them up for a profit.
The best thing about scoring these gems is that they can be almost anything: from vintage decors and artwork, power tools, dinnerware, etc. Some people may think that these things are eyesores, but seasoned flippers like Rob and Melissa of the Flea Market Flipper know they could potentially re-sell them for many times over their original price — and people are buying them.
So, if you ever heard the phrase “one man’s trash is another man’s treasure,” then it could not be any truer than flipping items. And if you’d like to make an income from this method, join this free flipping workshop today by the Flea Market Flipper to learn how to flip money in as little as 14 days.
Your income in flipping items online can vary a lot, but a lot of people have found success in this gig. For instance, Mark Meyer makes a six-figure income flipping items on Amazon and eBay. He says he gets his capital back from a single item, and the rest of the products will generate his profit.
2. How to Flip My Money with Acorns
If you’d like to learn how to flip money through investing without overthinking it, then investing your spare change with Acorns is an excellent idea. Acorns is a micro-investing app that allows you to invest by automatically rounding off your purchases to the next figure, and then taking the difference as your investment. The app links to your bank or checking account, so that every time you make a purchase, you are actually investing, without you really seeing it.
I understand that some people are terrified of investing because they think it’s too risky or they don’t understand how it really works. The good thing about micro-investing is that you don’t have to worry about huge risks because you’re only investing your spare change. Also, you don’t even have to be a seasoned investor to do it. When it comes to learning how to flip money through a cash app, Acorns should be a good starting point.
So, instead of putting your spare change in a jar, you should consider flipping it with an investment platform so that your money grows through compounding interest over time. Learn more about Acorns by reading my Acorns review!
Your earnings from a micro-investing app can vary depending on the amount you save and invest. This author says she was able to save $400 in just a few weeks by using the roundup feature and saving $5 a month into her portfolio.
3. How to Flip Money Online With Market Research
Want to know how to flip money in a day by just trading your time? If so, you should consider joining market research sites. There are several websites that pay you to complete surveys, and they are legit, free to join, and easy to use.
InboxDollars is an online rewards site that allows you to make money from your extra time through very simple tasks. With InboxDollars, you could earn between $0.50 to $10 per completed survey, or $0.25 to $3 each by reading emails, watching videos, and surfing the web. You also get a $5 sign-up bonus when you join. You can convert your points into gift cards or turn them into cash and have them deposited into your bank or PayPal account.
Similar to Inbox Dollars, Swagbucks is also a website that rewards you for participating in market research, particularly through their surveys. Each survey gives you corresponding points. Apart from surveys, you also make money searching the web using the Swag Button, taking part in the daily poll, completing offers, and referring friends. You can also convert your points into gift cards for your favorite retailers or redeem them as PayPal money.
Read: Swagbucks Review
And there’s also MyPoints, a site that’s quite similar to Swagbucks and InboxDollars. MyPoints rolls out various surveys to its members, and they could be anything from fashion, food, hobbies, and more. MyPoints will reward you with corresponding points for each survey you complete, and you may even have the opportunity of testing out products for free. Shorter surveys pay less, but others that are longer and more comprehensive pay as much as $50. Also, you can earn extra points by reading emails, searching the web through the MyPoints search engine, reading emails, playing video games, shopping at partner retailers, and more. MyPoints offers a $10 sign-up bonus.
Answering surveys and doing small tasks through these rewards sites don’t pay as much as a salaried job, so don’t expect them to pay all of your bills. But a lot of members swear by them for helping them earn a couple of dollars here and there. This mom earned enough money to bring her family to a Disney vacation worth $2,200 without spending a dime — all thanks to Swagbucks.
4. Flip Stocks with Robinhood
Investing in stocks is also a good way to flip money. With some research and the right platform, you can grow money in your portfolio rather than risk it getting spent on trivial things. Investing always comes with a risk though, so it’s good to start with something simple and beginner-friendly, like Robinhood.
Robinhood is an investment platform for commission-free trading. This can be a perfect starting point for beginner investors because they can invest with a minimal amount and they don’t have to pay any fees to trade. You can flip money by investing in Robinhood and earn through dividends and profit from trading your stocks.
As with all sorts of investments, potential income from Robinhood depends from one person to another. This guy, though, wrote on USA Today, that he invested $100 on Robinhood, and it grew to $115 in just three days.
5. Flip Money with Amazon FBA
Want to know how to flip money online by putting up your own business? Amazon FBA could be the answer to that. As an Amazon FBA seller myself, I can attest that selling on Amazon through its FBA program is one of the best ways to make a passive income these days.
One way to sell on Amazon FBA is through Private Label. With this business model, you will products with demand on Amazon, contact a supplier to produce those products for you (Alibaba is a top option for this), and then put your own branding into the product.
With Private Label, you’ll have your own business brand without any heavy lifting and you do not have to worry about inventory because most suppliers ship directly to Amazon warehouses. So all you have to do is find a profitable product, come up with your own brand and market your items. When an order comes in, Amazon takes care of the rest.
I highly advise taking a course on how to sell on Amazon with Private Label. It’s because you’ll put in some money to get started and Amazon is a competitive marketplace with millions of third-party sellers. A course can help you select profitable products, create a listing that converts, use Amazon advertising to generate sales, and avoid costly beginner mistakes.
The income you can make from selling private label products can be lucrative. A lot of sellers have found success with this business model, such as Manny Coats who earned over $75,000 on his first month selling on Amazon.
6. Flip Money with Amazon FBA (Retail Arbitrage)
Another way to sell on Amazon is to find the products you want to sell from local stores and then listing them up on Amazon. This method is called Retail Arbitrage, and it’s also a good way to get your business running on Amazon.
So, the way retail arbitrage works is that you go to local brick-and-mortar stores like Target and Walmart, and find things you can flip for money. The key here is to buy low and sell high, so it’s important to identify the most profitable items. Then, you list those products up on Amazon.
You can also do online arbitrage too, wherein you shop for potential items online instead of in-person. And since this strategy works with Amazon FBA, you will have to ship your products to an Amazon warehouse. From there, all you have to do is focus on sourcing, marketing, and order processing. When a customer purchases your product, Amazon will pull out said item from storage, pack it up, and ship it.
You can start selling on Amazon retail arbitrage even with a couple of hundred dollars to start, and you can keep rolling the profits to grow your business. According to Jungle Scout, Amazon sellers make at least $1,000 in sales, while super sellers earn even up to $250,000.
7. Flip Money by Flipping Books
There are many ways how to flip money fast, and one of them is book arbitrage. As mentioned above, arbitrage is a strategy of finding products that you can buy low and sell high, and books happen to be one of them.
Flipping books is a great side hustle even in our age. People still look for hardbound, paperback books, especially collectors’ items, limited editions, and college textbooks. Most flippers go to physical locations to scour for potential books to flip, such as book sales, and local Goodwill shops. If you look carefully, you can find books that you can buy for only a couple of dollars, and flip online for a hundred bucks.
Apart from physical locations, you can also buy books online, such as on Craigslist, Facebook Marketplace, and Nextdoor. Once you know the selling value of these books, you can list them up on Amazon and sell them for a profit.
One of the best tools to make book flipping easier and faster is Zen Arbitrage. This is an FBA tool that allows you to find cheap books on Amazon, and then resell them on Amazon with a markup. There are millions of books on its database, and you can search by price, title, rank, etc. So instead of spending countless hours looking for books to flip online, you can easily narrow down your search and find the most profitable books quickly.
Book flipping can be a competitive business and has the potential to make a very good income. Nathan Walsh, for example, invested $600 into his book flipping business and made over $6,000 in profit in just three months.
8. How to Flip Money Online Buying and Selling Digital Real Estate
We’ve all heard about flipping physical products, but did you know you can make money flipping digital real estate too, such as your blog and eCommerce shops?
What is digital real estate flipping?
This is the process of purchasing blogs and sites for cheap. Then, spruce it up with quality content, growing its traffic and following, and increasing its monthly income. By the time the site has grown enough to your liking, you can sell it to a new owner for an amazing deal. Or, you can set up a blog from scratch, grow it and then sell it in the future. Once you’ve learned the ropes, flipping websites can be one of the best ways to flip money fast.
How much can you make from flipping blogs?
You can actually sell a blog twice or thrice the price of its monthly income. So, if your blog makes $100 a month or $1,200 a year, you can flip it for $2,400 to $3,600. Some people have even found success flipping blogs for amazingly higher prices.
While you can flip your blog directly and personally to a new buyer, I suggest taking this blog flipping course, designed by Chelsea Clarke. Flipping a website can be more complicated than you think, so understanding how it works can help you prepare a better deal.
Your income from blog flipping depends on the value of your blog, which can be dictated by its traffic, following, and monthly income. However, successful blog flippers, such as Chelsea Clarke, are now making a lucrative income from blog flipping. She bought $500 and it made over $16K in income.
9. How to Flip Money Online With Domain Names
We live in a highly digital world, and everything we need on the internet can be accessed through the website’s domain name. It’s safe to say that domain names are hot commodities on the world wide web. And therefore, they are great assets for flipping money.
So, to make money flipping domain names, or simply domain flipping, you must find domain names that have the potential to get sold for remarkably high prices in the future. These domain names ideally end in .com or .net. When you find domain names you want to flip, you have to register them on sites like Hostgator or NameCheap for around $2 – $20. You can opt to park your domain name until someone reaches out and offers you a deal, or actively market the domain name so you can get a buyer right away.
Just like website flipping, domain name flipping can also be very lucrative, and it involves a lot less work. You will typically spend around $10 for registering a domain name, and you potentially flip the price many times over. Perhaps one of the finest examples of people who succeeded in domain flipping is Page Howe, who sold two domain names, each worth $1 million.
Sometimes, you don’t have to look very far to learn how to flip money. You should first start looking in yourself, and see what you already have that you can capitalize on talent, skills, knowledge. You can put these things out there and share them with others, and at the same time, make money.
So, whether you’re a genius in Chemistry, are passionate about crafts, or have extensive knowledge in a specific topic, you can flip your time and knowledge through teaching others. One way to do this is create a blog about your crafts, and share how to your audience your tools and processes. You can maybe create an online quiz on Chemistry or design an online course on affiliate marketing. You can make money from downloads and subscriptions, as well as from other income revenue streams.
Apart from making money by sharing your knowledge, you could also make money by offering your services. Lots of people make money from home freelance writing, graphic designing, proofreading, bookkeeping, and more.
It depends on your approach. Freelancers can charge an hourly rate while online course creators get paid per student while ebook writers get paid with royalties.
Did you know you could also make money by selling foot pictures? Check out How to Sell Feet Pics and Make Money!
You probably haven’t thought about how to flip your money from banks. But if you come to look at it, banks are some of the best places to make money from, easily and quickly.
How do you do that? By opening bank accounts.
You see, banks are thrilled to get your business, so as an incentive for patronizing them, they’ll give you a sign-up bonus. While you have to meet certain conditions and criteria to be eligible for these bonuses, you can be sure that these welcome bonuses are nothing to scoff at.
Here are some of the best bank bonuses right now, according to The Ascent:
- Bank of America – $100 bonus
- Capital One 360 Checking – $150 bonus
- HSBC Premier Checking – $450 bonus
- Huntington National Bank Huntington 25 Checking – $300 bonus
- PNC Bank Virtual Wallet with Performance Select – $300 bonus
- TD Beyond Checking – $300 bonus
And if you’d like to open a credit account with American Express, you qualify for $200 to $1,000 worth of welcome bonus, depending on the type of card you get.
Got a second house or extra room that’s collecting dust? Might as well turn them into money-making machines by renting them out.
Renting out your spare bedroom or even an entire house is a good way to make money passively. This is especially true if you live near colleges and around the touristy areas. The most popular way of doing this is to list the space on sites like Airbnb. As a host, you can make money each time a guest books your home or room. It could be for a couple of nights, a week, a month, or even indefinitely. The rent income could help with your mortgage and pay some bills.
As Airbnb hosts, you have full control in operating your rental business. You can close down for a couple of days if you’d like, and re-open whenever you want. You can set your rates and even choose your guests.
Renting out a spare bedroom or an entire home can bring in some decent money. Smaller spaces, like a bedroom, could help you with some of the rent or bills while renting an entire property could give you a full-time income. The couple behind Hopscotch the Globe, Kristen and Siya, recently listed their home on Airbnb. They easily made $10,000 in their first month.
One of the common things we all have is time. But how we spend our time is all up to us. So if you’d rather make money with your free time, you can always take a side hustle.
The good thing is, you can find a lot of side hustle options online. You can start your own online shop. You can work as a delivery driver or run errands for others. There are literally a lot of gigs that you can possibly take to increase your cash flow, and time is your best investment. Many of these jobs don’t even require experience, a diploma, or certification. So when it comes to flipping money with little to zero start-up cost, hustling on the side is always a good idea.
It depends on how much time you invest into your side hustle. Some people have become successful with the side hustles that they decided to turn into their full-time jobs. Jake Kenyon, started selling hand-dyed yarn as a side hustle, and it boomed even in the midst of the pandemic. He is poised to make over $200,000 in sales by the end of the year and decided to quit his day job so he can focus on the business full-time.
Flipping furniture is another good way to make money fast. A lot of people discard their old furniture because they bought new ones or they need to relocate and can’t bring their furniture with them. And sometimes, this furniture only needs some cosmetic upgrades, and they’re good to sell for a profit.
Some of the key places in finding furniture to flip are garage sales, Habitat for Humanity, and Goodwill stores. You’ll most likely find discarded furniture being sold for a few bucks. You can even pick up furniture people leave at the side of the road, or hint to your friends who are moving or upgrading that you’d be happy to welcome their old furniture.
Once you have your old furniture, it’s time to make it look new. You can add new hardware, put on a fresh coat of paint, or do a little bit of updating. You can easily learn these skills from online tutorials for free. After which, you can start selling your furniture on Craigslist, Facebook Marketplace, and other platforms.
Flipping furniture can be pretty lucrative. This is true most especially if you know where to find cheap furniture you can flip with minimal spending. For instance, Maggie McGaugh is able to make enough profit from her furniture flipping business that she can afford to pay her mortgage and other bills.
Buying and selling clothes is another fantastic way to flip money online. If you have some time to spare going through racks and piles of second-hand clothes, you can find gems that you can flip for at least thrice the item’s cost.
Some of the best places to find clothes to flip are flea markets, garage sales, and thrift stores like Goodwill. Many of these clothes sell cheap, and you can flip them for a nice profit. The key here is to find branded clothes that are still in good condition and having the fashion foresight of what might become trendy in the next few months.
There are several platforms where you can sell clothes, such as Facebook Marketplace, Etsy, and eBay. Some sellers also use specific apps like Poshmark, DePop, and Mercari.
You can make a good profit flipping clothes if you know what to look for and where to find them. Natalie Gomez, for instance, was able to quit her day job because she was already making $10,000 in monthly sales flipping clothes.
Real Estate / Flipping Houses
When it comes to flipping money, real estate flipping always comes to mind. House flipping has created a nice income stream for seasoned flippers, and some of them even consider this as their full-time job.
How to flip houses and make money?
Basically, you’ll look for a house that you can purchase for a low price. Ideally, the house should only require some minor cosmetic repairs and upgrades and is still structurally sound so you don’t have to spend a lot on updating it. Once all repairs and modifications are done, you sell the house for a higher price, so you can make a profit. This method requires some upfront investment but can pay nicely if you do it right.
How to flip houses with no money?
If you’re very interested in flipping houses but don’t have the money to spend on them, you can look into Fundrise, a crowdfunding platform for real estate. With Fundrise, you can obtain the capital you need for your flipping. The platform gathers investment contributions from several investors which then gives you the financing you need for your house flipping projects.
Invest in stocks, bonds, and mutual funds
Investing in stocks, bonds, and mutual funds is another traditional way to flip money. However, I suggest you learn everything you can about this matter because investing is never without risks.
As with the concept of buying low and selling high, you want to find undervalued stocks that you think will rise in the near future and then purchase those stocks. As the company’s stocks rise, so does your investment. You will then make a profit when you sell those stocks at the highest price you can get.
Receive recurring income: royalties, dividends, rental fees
Receiving recurring income is also a fantastic way to flip money because you only need to put in the effort once, and the money would just keep rolling in afterward. For example, if you wrote and sold a book, you will keep getting from your royalties, for as long as people are buying it.
Recurring income can also come from dividends from a company’s earnings and rental fees from your properties.
There you have it, proof that income does not just come from a regular paycheck but from other ways as well, such as flipping. There are more than a dozen ways to flip money, and you might find some of them highly interesting. But remember that flipping money is not an overnight success or a get-rich-quick scheme. But if you do your research, prepare your investment, and put in the work, you should be able to flip money.
How do you flip money? Which of the methods above are you most interested in? Let’s connect in the comments.