We all know how hard making some additional cash can be. But it doesn’t always have to be that difficult. By flipping money you can increase your income and pad your savings each month.
Don’t get me wrong, flipping money will still require some work and effort. You’ll need to strategize the best methods to flip money and figure out what you excel at.
In this post, I’ll explore what money flipping is, how to legally flip money, how much money you can make flipping money, and more. Let’s get started!
What is Flipping Money?
While there is no true definition of flipping money, it can best be described as buying and selling items to make money or creating value.
For example, purchasing a house and fixing it up and then selling it for a profit is a great way to flip your money. Using Swagbucks to make money can also be considered a way to flip money because you are creating value for yourself by earning money by completing surveys, watching videos, and more.
Flipping money isn’t a get-rich-quick scheme. You’ll need to put in the work to succeed and make money flipping.
Related: How to Make Money Doing Nothing
How to Flip Money
Below are some of the best ways to flip money and increase your income!
Flip Money By Joining the $1 Flip Club
If you need to flip money fast, joining the $1 Flip Club is the best way to do so. In the club, you’ll learn everything you need to know about flipping and how you can make a full-time income!
The class is taught by expert flippers Rob and Melissa who made over $100,000 in their first year of flipping.
Flipping furniture is one of my favorite ways to flip your money because of how creative (and lucrative) it can be! Seeing the transformation of your pieces will spark a sense of satisfaction in your brain that leaves you coming back for more.
To flip furniture, you’ll need to source pieces from a low-cost place like a thrift store or on Facebook Marketplace. You can often find pieces for extremely cheap – if not free on these sites, allowing you to make a large profit when sold.
Once you’ve found a few pieces to flip, you’ll need to put your creative hat on and try to refurbish the piece to give it a unique look. This might mean it needs a fresh coat of paint, new hardware, or a new liner.
Once you’ve completed the refurbishing of the piece, it’s time to sell it to make money. You can sell your pieces on websites like Facebook marketplace or Craigslist or you could have a yard sale.
The amount of money you can make flipping furniture ranges from a couple of hundred dollars each month to a few thousand. It ultimately will depend on your creativity, ability to find good deals, and how efficient you can be with your time. If you’re looking to boost profits, try to complete a few additional pieces each week.
Retail arbitrage is one of the hottest flipping trends that involves purchasing goods from a retailer at a discount and selling it for a profit.
You might be wondering how you can find such good deals?
The truth is – time and effort. You’ll need to either visit retailers in person or online to find highly discounted items you can resell for a profit.
What I love about retail arbitrage is that is pretty low-risk. Assuming you find the right items, you can determine if there is a market for those items and how much you’ll be capable of selling them for. By browsing through eBay and Amazon for the exact same items, you’ll gain a strong knowledge of what profit you can make.
Investing in stocks can be another great way to flip your money. But it’ll take some time and knowledge to become successful. Most stock pickers and day traders are not successful – the reasoning I recommend giving your stocks time to grow.
But it’s certainly possible to flip money with stocks. To get started, you’ll need to open a brokerage account. I recommend using Stash. It’s extremely simple and gives you everything you need.
Once your account is opened, you’ll want to look for stocks that are undervalued. This could be for a multitude of reasons – maybe the companies executive team has proven results or their product line has expanded. You’ll want to create a spreadsheet to track these stocks.
Next, you’ll need to purchase your stocks. This is simple with Stash, just search the platform and invest.
Finally, you’ll need to give your stock time to grow before selling them for a gain.
Flipping books can often get overlooked behind other types of flipping. But it can still be profitable.
The best method to flip books is by purchasing them in bulk at garage sales from homeowners without the knowledge of the books. You can usually pick these books up for around $.25 each. That’s a bargain!
Once you’ve purchased your books, it’s time to do some research. Go online and search for the books you’ve found. You might be surprised to see some of them selling for $50 or more. That’s a great sign consider you might’ve paid $.25 for them!
After completing your research, sell them online through websites like Amazon, eBay, or others. Depending on the number of books you sell, you could flip your money into several hundred dollars each month.
Flip Domain Names
Many people have never heard of this form of flipping, but it can be one of the easiest because the entire process is completed online.
Flipping domain names involves purchasing and selling domain names online.
Because many people do not know the value of a domain name, it provides a great opportunity for those willing to put in the effort.
You’ll need to browse through domain names to find ones that you think someone else will want.
The best domain names are short and end with the extensions “.com”, “.net”, or “.org”. Because the internet has been around for some time now, many of these domains have already been registered. However, if you can find one, it can be worth a significant amount of money.
Flipping domain names can be easy to get started. Registering your domain name will cost less than $10 annually with NameCheap. This means you can purchase multiple without breaking the bank. You can check out my guide to domain flipping here!
TIP: There is no way to make a domain name better. This means you can only base your profits on what you think the demand will be later.
Flipping websites is in the same wheelhouse as flipping domain names with one key exception – whereas with domain names there is no way to increase its value, with websites there are hundreds of methods to increase its worth.
By purchasing a website and increasing its revenues, you can sell it for a profit and make money.
To find websites to buy, you can browse through websites like Flippa or Empire Flippers. These are the two largest website brokers that buy and sell websites.
The best candidates for website flipping include websites that have a strong backlink profile, have well-optimized content, or have a superior domain name.
Growing the website and profits will take time and effort. You cannot expect a website to grow unless you put in the work.
Growing a website will require one of many things including:
- Expanding the content on the website
- Building backlinks to the website
- Increasing conversions on the website
- Expanding the social media accounts for the website
- Growing an email list
Flipping clothes can be a simple way to make money in your free time. One of the best ways to do this is by visiting local garage sales and finding bulk clothing at a discount.
Many of these items can be brand named items at an extreme discount. You can often find clothes that cost less than $5 you might be capable of selling for more than $50.
Flipping clothes will require you to frequent many garage sales to load up on inventory that you can sell for a profit. To flip money fast, consider visiting your local thrift store to find clothes you could easily sell to make money.
If you’re looking to make a serious income flipping money, flipping houses is likely your best option. However, this does come with some risk and requirements to get started making it one of the most difficult types of flipping.
To get started, you’ll need to have enough capital to either buy a home outright or get approved for a mortgage for the property.
Alternatively, you could utilize a hard money lender to get access to temporary funds to purchase the home and make improvements, then sell the home for a profit. This can be extremely risky however and should only be done if all other options are exhausted.
Once you’ve found a way to purchase a home, you’ll need to do some research to find a home worth flipping. This usually involves going to any house showings or browsing the MLS to find undervalued properties.
Most homes that are worth flipping will be in extremely poor condition. You’ll want to find properties with many cosmetic blemishes that can be fixed with some elbow grease. Oftentimes with these homes, you might find a serious issue with the home. Perhaps the foundation is in poor condition or mold was found in the home. These are much more costly issues but if you have the funds to fix them, the home can still be worth flipping.
Once you’ve found a home you believe is a good candidate to flip, you’ll need to put in an offer on the property. You should do some research to find out how much the property might be worth beforehand. If the property has significant issues or has been on the market for a while, you might consider offering much less than the asking price.
If your deal is accepted, it’s time to close on the property before making any renovations. Once all of your repairs or renovations are completed, it’s time to sell. You can list your home for sale with or without a realtor. To boost your earnings you might want to sell the home yourself as a realtor will rake in around 6% of the homes selling price in commission.
Flipping homes can be an excellent way to flip money if you have the cash or credit available. After you’ve completed a few flips, you’ll become more efficient and better at spotting potential flips.
Flip Cars or Vehicles
Similar to homes, cars and other vehicles make for good flipping candidates to flip your money. The process is somewhat smoother than flipping a home and can be completed in a week or less.
To get started, you’ll want to secure funds to purchase a vehicle. A good car to flip will often cost less than $15,000, making it a little easier than purchasing a home to flip.
Next, you’ll need to purchase a car that is a good candidate for flipping. You’ll want to look for smaller items like cosmetic damage that can be fixed with ease.
Once you’ve made the fixes, you can sell it for a profit. You’ll want to sell your vehicle yourself instead of trading it in to get the most money for your car.
Flip Sports Cards
Sports cards have become more popular in the past few years as demand has risen dramatically. These cards can often be purchased at garage sales from homeowners unaware of the value of the cards.
It’s possible to purchase sports cards for less than $10 for an entire deck and sell them for over $100 online. Some of the rarer sports cards are even worth thousands.
Flip Businesses to Make Money
Flipping businesses can be a great way to flip money but it will take some time.
Because some businesses can be rather expensive to purchase, you’ll likely need a significant source of capital to get started. If possible, you might be capable of having the seller of the business finance the deal for you in which you pay the seller interest until the loan is paid in full.
Finding good businesses to flip will require a large amount of due diligence. You’ll need to be comfortable analyzing the financial performance of a company and understanding how you can improve the business’s profitability. The time needed to fully analyze a business’s operations can take weeks – if not months of research.
Understanding how a business acquires new customers, operates, and functions are all essential areas to research.
Once you find a good business to flip, you’ll need to complete the purchase and make improvements.
Once your improvements are in place and the business begins to increase profits, you can sell it to make a large profit. The entire process can take years to complete, so if you need to flip money fast, I’d consider choosing another option.
Open a High-Interest Checking Account to Flip Money
Did you know that some checking accounts will pay you interest each month on your money? That’s right. When you open a SoFi checking account, you’ll earn interest each month on your money. That’s free money for doing nothing and a perfect way to flip money.
In addition to earning free money on your deposits, you can also use SoFi to invest. This gives you multiple methods to flip money fast.
Flip Money by Investing in Real Estate
When choosing how to flip money, real estate often gets overlooked. Why? Many people get overwhelmed with options and they think you need a ton of money to get started. Well, this isn’t always the case.
In fact, you can flip your money and invest in real estate for $1,000 with PeerStreet.
By using PeerStreet, you can invest in real estate and flip money with real estate without the hassle of managing a property.
How Much Money Can You Make Flipping Money?
One thing I love about flipping money is the amount of money you can make.
Depending on your skills (and a little luck), you can be capable of making over 6 figures from flipping money.
By combining several of the methods above, you can increase your earnings in no time. When you first learn how to flip money, it might take some time to master your skills.
Once you’ve become a better flipper, it’s possible to make over 6 figures flipping money.
How to Get Money to Flip
To flip money, you’re going to need some cash to get started. Below are some great ways to get money to flip.
Take Surveys Online
While you won’t make 6 figures taking surveys online, you can boost your income and use it to flip money even further.
A few of my favorite online survey sites include:
In addition to taking surveys, you can also make money watching videos and shopping online.
Plus, many of these sites will give you a free $5 just for registering. This can be a great place to get started flipping money.
👉 Survey Junkie - Get paid to take surveys online!
👉 Swagbucks - Get a $5 bonus instantly!
👉 ySense - Multiple methods to make money fast!
👉 InboxDollars - Get a $5 bonus when you register today!
Become a Food Delivery Driver
One of the best ways to make money fast is by working as a food delivery driver. Because demand has skyrocketed, you can make a good income delivering food directly from restaurants to a customer’s doorstep.
In many regions, it’s possible to make around $20 per hour delivering food, giving you the cash you need to start flipping your money.
Some of my favorite food delivery platforms include Doordash and Postmates. These platforms both have among the highest pay and are reliable sources of income. To maximize your earnings, register for both platforms to stay busy, even during the slower times.
Donate Plasma to Get Cash
Donating plasma is another option if you’re looking to get cash fast. It’ll take a couple of hours to complete, but once you’re done you’ll leave with around $40. Best of all, you can donate plasma a few times per month making it a steady stream of income.
Rent a Room in Your Home
Renting a room in your home can be a great way to get the money you need to flip. By using websites like VRBO, you can list a room in your home for rent to make passive income each month.
The amount of money you can make depends on the location of your home and the size of the room, but it’s possible to earn an extra $500 each month just by renting a room in your home.
Find Freelance Work
To find money to flip, working as a freelancer can be a great start. Depending on your skills, you can be capable of making over $20 or $30 per hour of work.
Some of the most common freelance jobs are around writing, editing, designing, and developing.
You can find freelance jobs on websites like Upwork or Fiverr.
Complete Yard Work for Neighbors or Friends
If you’re looking for a quick $50 or $100 to start flipping, completing yard work is a perfect option. While this work is not the easiest, it tends to pay well and can help you lose a few pounds while you’re at it.
What to Avoid When Flipping Money
There are a few things you should avoid when trying to flip money fast. I’ll explore several of them below.
Gambling is extremely risky and not a good way to flip money. Instead, consider a more reliable way to flip your money so you don’t end up losing it all.
Multi-level marketing can be a terrible way to flip money. It’s reported that most MLMs actually cost you, rather than making you money as they claim. Try to avoid MLMs as much as possible when flipping money.
Payday loans are a poor way to get money fast and can be dangerous to flip money. Because the interest rates can be extremely high, it can cost you thousands of dollars per month in interest if you do not pay it back on time. Avoid payday loans at all costs.
Final Thoughts on Flipping Money
Flipping money is an excellent way to boost your income and expedite your journey to financial independence.
There are many kinds of flipping you can do to build your income. Some of my favorite ways to flip money including flipping furniture, taking online surveys with Swagbucks, and purchasing stocks to make money.
Learning how to flip money can take some time, but by utilizing some of the methods above, you’re sure to make money faster than ever. What are you waiting for? Give them a try today!