Can you make a million dollars in a single year?
It's difficult to imagine that kind of money when you are living paycheck to paycheck,
but the reality is, that's entirely possible if you just get outside of your comfort zone
and try new ideas.
So here in this video, I am going to share with you 5 practical methods that anyone can
use to make over a million dollars in a single year.
So if you are ready, give this video thumbs and let's get started.
stock trading
When we talk about investing, you probably imagine how the stock market jumps up and
down every single day.
Let me tell you a little secret.
That's not investing.
All this news about how some stocks have risen today and which ones fell has nothing to do
with investing.
Do you know who cares the most about daily stock market ups and downs?
Traders!
Day traders don't care about the company they invest in.
It doesn't matter whether it's the world's largest corporation or a tiny company in the
middle of nowhere that barely exists.
The goal is to speculate and bet on the companies stock price.
It can rise or fall within a few hours or, in some cases, within a few days.
Let's say Airbnb is going to releases its quarterly financial statements tomorrow, and
according to your sources, they are going to do better than what the investors expect.
So you buy 10K dollars worth of airnbn shares.
The next day, Airbnb releases its statements, and you are right.
So facebooks stock price jumps by 10 percent since most people are now interested in investing
in airbnb.
Your 10K worth of airbnb shares now worth 11K dollars.
You sell your stocks, and congrats, you have earned 1K dollars in a single day.
But stocks of stable companies don't fluctuate much, that's why traders prefer unstable companies
like Tesla, startups, or tiny corporations who's stock can even double overnight.
You can start with as little as a few hundred dollars, and if you get good enough at predicting
which stocks would rise today, then you can make thousands of dollars if not tens of dollars
a day.
But keep in mind that it's speculation.
In case if you are wrong, you can end up losing everything, so be careful if you ever get
into this field.
By the way, here is a little disclaimer, this is not financial advice, and everything that's
said in this video is for educational purposes.
In order to make the best financial decision that suits your own needs, you must conduct
your own research and seek the advice of a licensed financial advisor.
2.
Use debt to invest in real estate
Let me give a short description of real estate usually build their fortunes.
Let's say you have saved a hundred thousand dollars.
With a 100K, your options to buy real estate are limited.
But here is how you can use debt to turn that 100K into a million dollars within a year
or maybe 2.
You find a property in a good neighborhood that costs 250K dollars, for example.
You head to a bank and get a mortgage by making a 20% downpayment ($50K).
Now you are left with a house that needs renovation, a mortgage, and 50K dollars.
You spend another 25K dollars to renovate the house, so your total investment jumps
to $75K.
But the value of the house rises as well, let's say to 350K since you have renovated
it and turned it from a place that no one would want to live in into a place that people
are willing to pay to live.
You rent it out to cover your mortgage, insurance, and other expenses and make sure that it generates
some cash flow.
You head to your bank again but this time, refinance your mortgage.
Since the value of the house is now 350K dollars, if you would get an 80% mortgage like you
did the first time, you will receive 280k dollars.
You spend 200K dollars of that money to cover your first mortgage, and you are left with
extra 80K dollars.
You use that money to get another mortgage, renovate it, rent it out, and create a second
source of income.
You can refinance your second house to get a third mortgage and so on and so forth.
Here is the best part.
With just 75K dollars, now you control assets that worth millions of dollars depends on
how many properties you have bought and created multiple sources of income.
If you have done your research and bought into areas that are rising in demand, your
properties will appreciate in value, which means you will be able to increase the rent,
but your mortgages will gradually get smaller as the tenants keep paying them off.
That's how most people get rich in real estate.
3.
sell a course
You probably heard this a million times, but believe me. this is one of the best and easiest
ways to make a million dollars in a calendar year.
All that you need is one skill that you are really good at.
If you don't have any, then you need first to build one.
But let's say you are a real estate agent; you know everything from how to find a good
property to what to pay attention to when buying a property, how to close a deal, and
so on.
The fact is, there are hundreds of thousands of people who want to become a real agent,
and if your course is going to help them to accelerate that process, then people are willing
to pay for it.
At the end of the day, that's going to save them a lot of time.
Turn your knowledge into a practical skill and, let's say, sell it for 200 dollars.
What?
200 dollars for a course?
Isn't that insane!
Let me ask you this, are you ready to pay 200 dollars to learn everything about real
estate from an experienced real estate agent.
A skill that you can turn into a source of income.
Let's be honest, that's peanuts if that knowledge is going to earn you a tenth of thousands
of dollars.
Right?
All that's left for you is to sell 5K copies of that course for 200 dollars.
Boom, you made a million dollars!
That's one of the beauties of the internet.
And 5K people learned everything you know about real estate.
By the way, here is a question for you!
I have spent the last 7-8 years actively investing in the stock market.
I have made some really great investment, but I also made some bad investments.
I learned a lot from my mistakes, so now I am making even better investments.
The question is, if I turn everything I have learned for the past eight years about the
stock market into a course, will you pay for it?
If yes, then how much?
I am really curious to know your opinion.
4.
Find one good stock
In summer 2019, which was not that long ago, a single Tesla stock was worth less than 40
dollars, and in less than two years, the stock priced skyrocketed to over 811 dollars, that
is a 2000 percent increase.
What that means is, if you would have invested just a thousand dollars in Tesla a little
over a year ago, your 1K today would worth over 20K dollars.
Or, if you would have saved 50K dollars by 2019 and invested your entire 50K into Tesla,
your net worth would be today over a million dollars.
Imagine turning $50K into a million dollars in a little over a year.
That sounds like a dream come true!
That doesn't mean you should invest in Tesla because the company already had its astronomical
rise, and who knows what is going to happen next.
But that's not the point.
Every single year or every other year, at least one start up emerges and completely
revolutionize an industry or something like that, and if you are able to spot such an
opportunity, you will grow your investment by 5 or 10K percent in a matter of a few years.
By the way, I am constantly watching the market to spot another great opportunity and if you
want to be the first to know about my next investment, be sure to check out my Patreon.
5.
Create an app
According to our YouTube analytics, most of you watch our videos from your smartphone.
The number of mobile users is growing.
And it seems like someday in the future, only nerds will be using websites because everything
is turning in an app.
You need an app for everything.
Of course, the vast majority of what is earned in this industry is by the major players.
However, even small apps can earn up to a few thousand dollars a day or tenths of thousands
of dollars a month.
The top apps easily turn $100K dollars a day, which amounts to tenths of millions annually.
We are not talking about the top apps like Facebook or YouTube because they earn unbelievable
amounts of money.
Of course, building an app is a huge risk.
You could be spending 6 months building an app, but at the end of the day, no one will
use it, so it's better to study the market first and deliver something than has the highest
chances to succeed.
It could be a game like angry birds or Bubble Ball that unexpectedly became super popular
on the platform.
The fact is, if you know how to build apps,
you have all chances to make at least a million dollars in this industry.
By the way, if you use the link in the description, you will get two weeks of skillshare premium
where you can learn how to develops apps.
These are just 5 ideas of how to make a million
dollars, which are entirely feasibly.
With some hard work and hopefully some luck, you can make it in under a year.
If not, you might need some more time to try and learn.
If you have enjoyed this video, you will most
definitely enjoy this custom playlist that I have created specifically for you that has
our most popular videos on business, investing, and the stock market that can potentially
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Thanks for watching and until next.