7+ Best Ways to Double $400 (2024)

By Planting Our Pennies •  Updated: 12/15/23 •  7 min read

If you’re looking to double $400 – these are some of the best methods worth considering to grow your money.

Invest in Rental Properties with Arrived

If you’re looking for a way to invest your $400 and potentially double it, investing in rental properties with Arrived might be a good option. Arrived is a platform for investing in shares of rental homes and vacation rentals starting from $100.

Arrived Real Estate Investing

As an investor, you can buy shares of rental homes/vacation rentals and earn passive income. Arrived takes care of the rest, including property management, maintenance, and finding tenants.

Investing in rental properties with Arrived can deliver returns to investors in two different ways. Firstly, you can earn dividends from the rental income on each property, which are currently paid out to investors quarterly. Secondly, you can earn appreciation from the change in property value that will be realized at the end of the investment hold period.

Investing in real estate can be a great way to build wealth through passive income and compound interest. With Arrived, you can start investing in rental properties with as little as $100, making it accessible to a wide range of investors. If you’re interested in real estate investing and want to earn passive income, Arrived might be worth considering.

Invest in Index Funds with Acorns

One of the best ways to invest $400 and potentially double your investment is by investing in index funds with Acorns. Acorns is an app that makes saving and investing easy. It rounds up your purchases to the nearest dollar and invests the money in ETFs.

Acorns Investing Bonus

Index funds are investments that track a stock market index, such as the S&P 500. They are popular with investors because they provide cheap diversification. Compared to individual stocks, investing in index funds is a smart way to put your money to work.

Acorns offers a variety of index funds to choose from, including domestic and international stocks, real estate, and bonds. By investing in a diversified portfolio of index funds, you can potentially earn higher returns over time.

In summary, investing in index funds with Acorns is a smart way to invest $400 and potentially double your investment over time. By diversifying your portfolio and taking advantage of compound interest, you can maximize your returns and grow your wealth.

Invest in Real Estate Debt with Groundfloor

Groundfloor offers short-term, high-yield real estate debt investments to the general public. With as little as $10, you can invest in real estate and earn interest rates that are higher than traditional savings accounts.

When you invest in Groundfloor, you are essentially loaning money to real estate developers who need funding for their projects. In return, you earn interest rates that are based on the loan amount and the length of the loan. Groundfloor offers a range of loan options with different interest rates, loan terms, and principal amounts.

One of the advantages of investing in real estate debt with Groundfloor is that you can diversify your portfolio and reduce your risk. Groundfloor has a rigorous underwriting process that evaluates the creditworthiness of the borrowers and the viability of the projects. This helps to minimize the risk of default and ensure that your investment is safe.

Another advantage of investing in real estate debt with Groundfloor is that you can earn passive income without having to manage the properties yourself. You can simply invest your money and let Groundfloor take care of the rest.

In summary, investing in real estate debt with Groundfloor can be a smart way to double your $400. With a diversified portfolio of high-yield loans, you can earn interest rates that are higher than traditional savings accounts and reduce your risk.

Flip Things

If you have a knack for finding things that others want, flipping items can be a great way to double your $400 investment. Retail arbitrage is one way to flip items. You can purchase items on clearance or at a discount and resell them for a profit. You can also buy items at garage sales and thrift stores and resell them online for a higher price.

When deciding what to flip, consider the market demand for the item. Look for items that are popular or in high demand. You can also consider flipping items that are niche or hard to find. This can help you command a higher price for the item.

To make sure you are profitable, keep track of your expenses and profits. You can use a spreadsheet or a notebook to track your expenses and profits. This will help you determine which items are worth flipping and which ones are not.

Remember that flipping items is a business, and like any business, it requires time and effort. You may need to spend time researching the market demand for an item, finding the item, and then listing and selling it. But with persistence and a bit of luck, you can double your $400 investment through flipping items.

Invest in Cryptocurrency with Binance

If you’re looking to invest $400 and double it fast, consider investing in cryptocurrency.

Binance is a trusted cryptocurrency exchange platform that allows you to buy, sell, and trade a wide range of cryptocurrencies, including Bitcoin, Litecoin, Dogecoin, Cardano, Algorand, and Basic Attention Token.

Investing in cryptocurrency can be risky, so it’s important to do your research and understand the potential risks involved. However, with the right strategy and knowledge, it can also be a profitable investment.

When investing in cryptocurrency, it’s important to remember that the market can be volatile and prices can fluctuate rapidly. It’s important to have a long-term investment strategy and to be prepared for potential losses.

Overall, investing in cryptocurrency with Binance can be a great way to potentially double your $400 investment. Just remember to do your research, understand the risks involved, and have a solid investment strategy in place.

Start a Business

Starting a business is one of the most effective ways to double your $400. However, it requires careful planning and execution to ensure success. The first step is to identify a viable business idea that aligns with your interests and skills. Consider conducting market research to determine the demand for your product or service.

Once you have a business idea, create a business plan that outlines your goals, target market, marketing strategy, financial projections, and operational plan. This plan will serve as a roadmap for your business and help you stay on track.

Next, register your business with the appropriate authorities and obtain any necessary licenses and permits. This will help you avoid legal issues down the line.

To grow your business, consider seeking help from mentors, coaches, or business advisors. They can provide valuable insights and guidance to help you navigate the challenges of entrepreneurship.

In conclusion, starting a business can be a great way to double your $400. With careful planning, execution, and support, you can build a successful business that generates long-term growth and profitability.

Invest in REITs

Real estate investment trusts (REITs) are a great way to invest in real estate without actually owning any property. They allow you to invest in a diversified portfolio of properties and earn a share of the rental income generated by those properties. REITs are traded on the stock exchange, making them easy to buy and sell.

REITs are also a great way to earn a monthly income. Many REITs pay a monthly dividend, which can be reinvested to compound your returns. This is a great way to grow your investment over time.

When investing in REITs, it’s important to do your research and choose a REIT that aligns with your investment goals. Look for REITs that have a track record of growth and a strong portfolio of properties. It’s also important to consider the management team and their experience in the real estate industry.

Overall, investing in REITs can be a great way to double your $400 investment. With the potential for monthly dividends and long-term growth, REITs are a smart choice for investors looking to invest in real estate.

Final Thoughts

There are plenty of ways to double $400 – but I recommend sticking with proven methods like real estate investing or growing your money in the stock market.

Planting Our Pennies

Planting Our Pennies is a site dedicated to helping others reach financial freedom through passive income, investing, and making more money.