How to Double $800 (7 Best Ways)

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

Wondering how to double $800? Check out these proven methods to grow your money.

Invest in Rental Properties with Arrived

If you’re looking to double your $800 investment, investing in rental properties with Arrived may be a viable option. Arrived is an online platform that allows you to invest in shares of rental homes and vacation rentals starting from $100. With Arrived, you can earn passive income, and the platform takes care of the rest.

Arrived Real Estate Investing

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

The minimum investment for Arrived is $100, and prospective returns range from 4-7% annual cash flow and 0-8% annual equity appreciation. Arrived charges a one-time sourcing fee, currently 4-6% of the purchase price, and an annual asset management fee of 1% of the equity raised from investors.

Investing in rental properties with Arrived can be a great way to diversify your investment portfolio and earn passive income. Keep in mind that investing in rental properties does carry some risk, and it’s important to do your due diligence before making any investment decisions.

Invest in Index Funds with Acorns

If you’re looking to double your $800, investing in index funds with Acorns is a great option. Index funds are a type of ETF or mutual fund that track the performance of a specific stock market index, such as the S&P 500 or Dow Jones Industrial Average. They’re popular with investors because they provide cheap diversification, and low fees can mean you earn higher returns.

Acorns Investing Bonus

When you invest in index funds with Acorns, you’ll benefit from their automatic round-up feature. This feature rounds up your purchases to the nearest dollar and invests the difference in a portfolio of selected ETFs. Over time, this can add up to significant savings.

Keep in mind that investing always comes with some level of risk, and it’s important to do your research before making any investment decisions. With Acorns, you can start with as little as $5 and invest in a diversified portfolio of ETFs. Over time, this can help you achieve your financial goals and potentially double your $800.

Invest in Real Estate Debt with Groundfloor

If you’re looking to double your $800 quickly, investing in real estate debt with Groundfloor could be a good option for you. Groundfloor is a unique financial product for individual investors that allows non-accredited and accredited investors alike to participate directly in real estate investment loans on a fractional basis.

As a lender, you can invest in short-term, high-yield real estate debt investments that average a 10% annual return. The borrower receives financing for their real estate project, and you receive interest on your investment. Groundfloor is the first and only company qualified by the SEC to issue payment-dependent real estate notes.

The investment process is safe, easy, and predictable, and there are no fees involved. You can invest as little as $10 in each loan, and you can diversify your portfolio by investing in multiple loans. The principal amount of your investment is returned at the end of the loan term, and you can reinvest your earnings to compound your returns.

Investing in real estate debt with Groundfloor is a great way to earn passive income and grow your wealth.

Flip Things

One of the fastest ways to double your $800 is by flipping items for a profit. You can sell items on eBay, Facebook Marketplace, or even hold a garage sale. Here are some tips to help you get started:

By flipping items for a profit, you can earn a decent return on your investment without having to wait years for compound interest to work its magic. With a little bit of effort and some smart buying and selling, you can turn your $800 into a much larger sum in no time at all.

Invest in Cryptocurrency with Binance

If you’re looking to double your $800 investment, consider investing in cryptocurrency with Binance. Binance is a reputable cryptocurrency exchange platform that allows you to buy and sell various cryptocurrencies with ease.

To maximize your returns, it’s important to understand the concept of compound interest. Compound interest is the interest earned on both the principal amount and the interest earned from previous periods. This means that your returns can grow exponentially over time.

Before investing in cryptocurrency, it’s important to do your research and understand the risks involved. However, with the right knowledge and strategy, investing in cryptocurrency with Binance can be a lucrative way to double your $800 investment.

Start a Business

Starting a business is a great way to double your $800 investment, but it requires careful planning and execution. You need to identify a profitable business idea, create a business plan, and secure financing. Here are some tips to help you get started:

  1. Research your market: Before you start a business, you need to research your market to determine if there is a demand for your product or service. You can use online tools to conduct market research and gather data on your competitors.
  2. Create a business plan: A business plan is a document that outlines your business goals, strategies, and financial projections. It is important to create a realistic and detailed business plan to attract investors and secure financing.
  3. Secure financing: You can secure financing for your business through loans, grants, or investments. You need to have a solid business plan and financial projections to convince investors to fund your business.
  4. Manage your finances: You need to manage your finances carefully to ensure that your business is profitable. You can use financial tools like compound interest, future value, and present value to calculate your ROI and make informed financial decisions.

By starting a business, you can not only double your $800 investment but also create a source of income and build wealth over time. However, it requires hard work, dedication, and a willingness to take risks.

Invest in REITs

One way to potentially double your $800 is to invest in Real Estate Investment Trusts (REITs). REITs are companies that own and operate income-generating real estate properties such as apartments, hotels, office buildings, shopping centers, and warehouses. By investing in REITs, you can earn a share of the rental income and capital appreciation of the underlying properties.

REITs typically pay out dividends to their investors, which can be reinvested to compound your returns over time. The compounding effect can help you achieve your goal of doubling your money faster. To calculate the potential returns on your investment, you can use a compound interest calculator that takes into account the annual interest rate, compounding frequency, and time period.

It’s important to note that REITs are subject to market risks and fluctuations in interest rates, which can affect their share prices and dividends. Therefore, it’s important to do your research and choose REITs with a solid track record of performance and a diversified portfolio of properties.

Overall, investing in REITs can be a viable option for those looking to double their money over time. However, it’s important to consult with a financial advisor and consider your own financial situation and goals before making any investment decisions.

Final Thoughts

There are plenty of ways to double $800 – 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.