Imagine you have 500 dollars and you could invest and double your money in a month or less. Think it’s not possible? In this article, I’m going to show you 8 places where you can invest 500 dollars and get a quick return.
Some will tell you that it’s impossible to make a quick return on your money. Those people are too afraid to take a risk, and they always go the safe route. You can make money fast on investments, but it’s going to require you to be looking for the best investment opportunities available constantly.
Table of Contents
8 best places to invest $500
1. Invest in an altcoin that goes through the moon
How much can you turn your $500 when investing into altcoins? Would it surprise you if it were possible to turn your $500 into $500,000? Some will immediately say that it’s impossible to turn that small amount into half a million dollars, but it’s been done before.
Let’s say that you have more modest goals like doubling your money within a week or two. Can you do something like that? Sure, the trick is to find a new coin on the market or is ready to explode.
Some coins are full of hype, but others can go where few altcoins will ever go. Those are the ones you want to pay attention to. If you can find the right altcoin, you can potentially double your money within a few short hours.
Your best bet is to go with new coins that are under $.01. A coin that’s well below a penny has plenty of room to grow, and it can shoot up quickly. If an altcoin is worth a fraction of a cent and eventually becomes worth a penny, your profits will skyrocket.
2. Pink sheets are another investment that can skyrocket
Pink sheets are often referred to as penny stocks, and you can enjoy some seriously quick profits with them. You’ll have to keep your ear to the ground and listen to Reddit’s wallstreetbets forum.
The key to trading something as volatile and almost useless as pink sheets is that you don’t know what will happen. Your best bet is to follow the crowd and try to find someplace online everyone is talking about what they’re going to do next.
You need to follow the whales and see where they’re putting their money. Pink sheets are a gamble, and you can’t blindly put your money into something thinking that it’s going to do great. However, if you are willing to do your homework and find the right group of people, you might be able to find out when the pink sheet is about to get pumped.
3. Buy advertising and hit a home run
Buying advertising is one of the fastest ways to make money online. However, there’s a ton of risk here. You are more than likely going to lose money before you dial in the perfect ad that makes you profitable.
The way you make money with buying advertising is you test run your ads for a few days. So, let’s say that you have $500 to spend; you will start by spending $5-$10 per day until you find an ad that converts like crazy.
As soon as you find the sweet spot and ad converts, that’s when you blast every last cent of your money on the ad. You don’t hold back, and your goal at this point is to spend as much of your advertising budget as possible.
Suppose you can spend all of your advertising money in a day, even better. If you advertise something like a dropshipping store or another business where people pay you directly, you’ll get all of your money right away. Though, you can’t spend all the money because you’ll need to use some of it to fulfill your dropshipping orders.
4. Buy items locally and flip them for an instant profit
People have been doing this for a long time, and it’s a way for you to make money. Let’s say that you can find someone who needs money bad and have a car worth $1,000. Maybe they’ll take $500 for it. If so, you can then double your money if you can quickly find someone else to buy the car from you.
The trick to buying and selling for fast profit is to either find someone who doesn’t understand their item’s value or find a person in desperate need of money.
There once was a time when it was difficult to know how much an item was worth. That’s not the case these days with the internet. You can scour sites like eBay or just type in Google how much the item is worth, and you might find an answer.
The goal here is to buy low and sell high. There’s always someone who has something for sale. You have to go out of your way to find that person so that you can find a good deal. You can scour Craigslist, local classifieds, or drive around to see if anyone has a for-sale sign on something.
5. Put all your money on red
Is it stupid to go to a casino and drop all your money on red at the roulette tables? Yes, yes, it is. But, do people do it as a means of making some fast cash? Sure, they do.
If you’re considering placing a wager on roulette or another game of chance, you need to realize that it’s a coin flip at best if you’re going to come out a winner. So only try to make a return on your money quickly this way if you have more cash lying around.
If you’re playing online, try to find a casino that has a matching bonus. For example, some casinos will match 100% of your deposit. That means you could potentially have $1,000 to gamble with. If that’s the case, then you have more opportunities to come out ahead.
6. Loan your money to people at super-high interest rates
Yes, some people find themselves in need of a $500 loan right away and can pay you back within days. It’s rare, but sometimes you need to cash in on situations like these. If you can dole that check out to people quickly, you have a chance at making a killing.
If you are offering your services as a loan broker, you might need to find companies or professionals desperate for money fast. Again, it’s not hard; there are plenty of sites where you can find people who need a loan.
What you don’t want to do is loan the money to just anyone who hasn’t been qualified first. If you do, you run the risk of not being paid. Of course, there’s always a risk when you loan money to people, but sites that screen their customers properly can lessen the likelihood that you’ll get screwed over.
7. Buy in-demand concert tickets and flip them quickly
If you know a very popular band or performer you can buy concert tickets for, give it a try. There’s no guarantee that you’ll be able to get the tickets. However, if you can, you can easily double your money or more within hours of your ticket purchase.
If you’re buying tickets online, you’ll have to jump through quite a bit of hurdles to get the ones you want. Though, if you’re able to snag them in person, the process may be much easier.
Ticketmaster has been cracking down on scalping, but that doesn’t mean you can’t get your hands on a few tickets to a concert that you know will sell out immediately. If you have a little luck, you should be able to get some tickets to hot events and sell them quickly.
8. Buy sneakers and flip them immediately
Sneakers are a lot like concert tickets because there are measures to restrict how you can buy them. You might have to jump through some hurdles to purchase the sneakers, like using proxies or software.
Sneakers are a big hit with many people these days, and you can make money right away after you buy them. Some companies limit how many sneakers they produce, which means not everyone who wants a pair will get them.
It will take you a little time to get the knack of buying sneakers online and turning a profit. If nothing else, you can always work as a middleman and buy sneakers from people who bought them and have customers already lined up who are willing to pay a premium for a new pair of shoes.
Where to invest 500 dollars: The bottom line
Don’t fall into the trap of thinking that the only ways to making money fast are scams. Sure, there are many scams online. Everyone who’s been around for a while knows that. This list of ways to invest 500 dollars are all legit ways that actually work.
As always, make sure that you do your homework and fully understand what you’re getting into before you invest your 500 dollars.
