5 Ways to Invest $5,000

before I became a millionaire one of the most pivotal moments was when I had a hundred thousand dollars in the bank account and most Financial experts agree that your first hundred thousand dollars is the Milestone to you becoming a millionaire and then a multi-millionaire the problem is that this is not easy to produce and most people will take forever trying to get here just by saving up money are there shortcuts hands down there are which is why today I'm making a video on how do you take five thousand dollars and parlay it into over a hundred thousand dollars there's five different great opportunities out there in the world today to help make that possible [Music] check it out today we're jamming on five ways to invest five thousand dollars can you turn it into ten Grand fifty Grand a hundred thousand dollars so that you really have some seed Capital to invest into something bigger on your journey to becoming a millionaire well that's exactly what we're talking about today yeah let's talk about this your first hundred thousand dollars this pesky amount of money this Milestone that you got to meet you heard a Warren Buffett right did you know he has a business partner his name is Charlie Munger this is kind of like the brains behind the brains of Warren Buffett and this is what he has to say that first hundred thousand dollars is the first milestone in becoming financially free but as Charlie Munger says it's a beach but you gotta do it on average it takes an American adult 7.84 years to save that hundred thousand dollars or 80 years to make their first million I don't know about you but an 80 year plan is too long of a plan if you have five thousand dollars saved do not seek to make passive income yet it's not about rolling that into like real estate instead you got to be asking how do I turn this into opportunities that produce active income so yeah we're not necessarily talking about full-fledged business but we're talking about side hustles we're talking about places where you can put your money and get a pretty awesome return pretty dang quick if I had five thousand dollars in Boston vending machines they would not be filled with Doritos and Ritz crackers and Cheetos well sadly that is probably what sells and what will make you some money but um you got to be careful how much of this you absolutely consume vending machines can be purchased and stocked for as little as five thousand dollars and while returns are not guaranteed those who find a good location and stock it with the right snacks can stand to make a pretty hefty profit and over the years I've met some buddies they're like I started with a vending machine and then I had 20 vending machines and then I had 100 vending machines it actually turned into some pretty real income but it doesn't take a whole lot to get started so might be worth looking at here's one this one is called Str or short-term rental Arbitrage now automatically you got to be thinking blah blah blah blah the art but what's here's what we're talking about imagine if you owned a home and you could Airbnb it if you just rent it maybe you get 1500 a month 2 000 a month but if you Airbnb it you might get three four five or six hundred dollars a night there could be an opportunity to have that rented out half the time and pulling in you know five six thousand dollars a month instead of just renting it two thousand dollars a month but Chris can you really get into real estate like that for five thousand dollars that sounds kind of crazy if you don't have money to buy a property to Airbnb you still have some options short-term rental Arbitrage is a technique where you get to rent a long-term rental and with permission from the owner listed on sites like Airbnb and VRBO that five thousand dollars can pay for some refurbishments for the first month's rent and after that the property could be paying for itself so I want you to think about that it's like wait a second instead of owning the property I'm going to leverage the property I'm going to go and say hey I would like to rent this property for the 2000 a month and you've done your research instead you get their permission you put it up on Airbnb you rent it out at three four five hundred dollars a night and at the end of the month you still owe them the rent but it's made a few thousand dollars on top of that are there people out there that do that oh I guarantee you there are and it's another option that gets you in the game where it's not about ownership it's about access now as I share these five different side hustles I want you to know that I am saving the best for last and yes you might have guessed it it is in the link below with a lot of detail on how five thousand dollars can go a really long way but let's jump back into the game we're talking about number three here buying a small franchise did you know that there are companies where a very little can go a very long way there are plenty of small franchises or affiliate marketing programs which you can buy into for under five thousand dollars while these are not all created equal selling someone else's hard work can be a great way to earn income let me tell you what I love about franchise someone else invented the business they figured out how to make money with the business and they thought to themselves man the world needs this company I see this in 10 000 locations but they think to themselves I don't know in my lifetime how I'm going to get it out there ten thousand times in ways so they franchise it and they basically say Hey you can keep most of the money but you got to give me a royalty let me give you the business the system the ETC do these exist these exist here's a fourth option lease options lease options are a rental strategy which allows the owner of a home to collect a down payment from the renter in exchange for the option to buy the home in the future for those who are creative enough this payment can be used to fund the majority of the purchase of the home and you may need as little as five thousand dollars of your own money to get in if someone is renting this house it's not a toy house imagine it's a real house and they're saying I'm going to rent this for fourteen hundred dollars a month and you've figured that that's a little bit low on the rental it could go for more so you sign maybe a five-year contract a long-term contract and then what you do is you turn around and remarket it and say rent to own I literally wrote a book about this and you put a sign in the yard and family start calling saying hey I I can't get approved with the bank can I do a rent to own they're going to give you a five seven ten thousand dollar down payment to get into this home and they're not going to pay fourteen hundred dollar a month rent they might be paying 1800 or 2 000. well that means that you collect that large non-refundable payment of five seven ten thousand dollars up front for you it means that there's between the fourteen hundred dollars that you owe for renting the place and now you're subletting it at let's call it 1900 a month that's 500 spread now you're making 500 every single month it's fully passive and you're crushing it this is another way where a small amount of money can go a really long way did you know that there's a whole lot of companies out there that are missing traffic they're like oh no we wish we had more sales but we don't know how to do online advertising and I'm like oh my gosh are you kidding me that's like one of the dumbest and easiest businesses that you can spin up check this out more than 29 percent of small businesses still don't even have a website you can leverage this to your advantage by running Google ads or social media campaigns and selling leads to their businesses that are deeply in need and need some traffic and are trying to figure out in an economy like this how to win bigger how to win more and so so this is a great one because it doesn't even take five thousand dollars it might take one or two thousand dollars and you're up and going you're Off to the Races and I get what you're thinking Chris I don't really know how to do that in a moment I'm going to solve that for you well I told you that I would save the best for last and you guessed it in the link below I'm sharing my favorite hustle and basically what it is is it's a combination of generating really cheap leads online for people in businesses where those leads are worth a lot of money and I'm talking about brokering leads where you could make 500 or 5 000 and yes I have people making more money than that so what's cool is that it's the business that only takes one or two hours a day at most but it has the power to replace a full-time income and what I love about that is the money that I make but I also love the time that I'm reclaiming if you're interested in figuring out some of the best paying hustles then I want you to click that link below I've got a master class set up for you click the link watch it and it's going to be mind-blowing because this might be the very solution that you've been looking for on how to take a small amount of money and turn it into something epic are you an overachiever like instead of one of those humans that's like oh yeah I'd love to work 50 years of my life and retire in my 70s dude I'd love to get it done in my 30s I'm telling you right now that with the right mentorship with the right track record in the right system that's very possible if you'd love to be 30 and retired you're definitely going to want to watch this video right here

Channel: Kris Krohn

Views: 33,302

Keywords: Kris Krohn, Limitless TV, Real Estate

Id: 7JTToKTsoCI

Length: 8min 55sec (535 seconds)

Published: Fri May 05 2023