what business can I make with just $1000 in my bank account and strike it rich?

Answer 1

Perhaps the lottery; $1000 buys a thousand tickets...keep the fingers crossed.

You can also sell crack, although I would advise against it.

A serious business would most likely take more than $1000, and most successful business are started on the premise of filling a need or helping out a certain group of people. Simply wanting to strike it rich is not enough: much hard work and repetitive investment go into making a successful business.

I hope I helped even a little,
and (just in case) please don't consider selling crack, I was only kidding.

Answer 2

There are lots of service businesses you could start with a grand.
As far as "striking it rich" probably won't happen. It's very hard to get rich which is why so few people are. And the success of any business is based on expertise. If you don't know what area you're an expert in then no one can help you. I suggest you invest part of that money in reality pills.

Answer 3

Your asking an important question but the wrong question. It isn't how much money you have, success happens when you do what you love to do. If you have something interesting to teach and know your topic, others will pay to hear you., people who work to make money get burnout and can be careless with what they earn.

If I said there was lots of money emptying portable toilets , would you invest your money.

What may help is to make a list of everything you like or can do well, start with little or no money and build your business by other people buying your product or services.

Answer 4

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You will have to wait between 3 and 10 days to get into the system in most cases. When I signed up it took 8 days. I wished it was faster, but if you can wait a week or two to start earn life changing money than you will have what it takes to make it in this business.

Answer 5

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Answer 6

My advice is, you cannot "strike it rich" with only $1000, but you can save that money and add to it little by little. Economize and save and one day you will have much more!

Answer 7

All of us that know how to do that aren't going to let everybody in on our secret.










Ok, I'll tell you just this once.
Hard work. No matter what you do, you have to like it because its going to be hard work. If all it took was $1000 we'd all be filthy rich.

Answer 8

Basically, forget everything you learned at school. School is ok if you want to be an employee all of your life. What you don't learn in school is that you will rarely, if ever, get rich on a salary. As an employee, you are only as valauble as it costs to replace you. Reach too far up the pay scale, and you are history.

So what do you do. Use the $1000 very wisely. It can make you rich, don't believe the nay sayers!

With $1000 you can either use it towards the down payment on a cheap house, and obtain the balance from a bank. Or, find people who are selling real estate by owner finance. If you can get a mortgage, work a deal with the seller so that you get a cash incentive back upon completion via the escrow/title co. Most banks will want 10% down min. So you have either a 10K max, with $1000 cash incentive back, or 20K max no incentive in your pocket (the seller is giving you a 5% gift deposit) You'll have immediate equity upon completion. I just bought a house for $11,500 that is worth $25,000 in current condition. The deals are out there. Missouri has many good rental quality houses available for $10,000 plus. Don't go for mobiles or manufactured houses. The banks don't like them. You'll rarely get an equity cash out on a mobile. Buy a house, go in and clean it up, a lick of paint won't do any harm, and then rent it out. Once you have a renter, revisit the bank and tell them what you have. The income and equity may encourage them to lend you the entire purchase of your second investment house, and you secure the mortgages on all properties. In a short period of time, you may acquire a portfolio of properties. You can't buy a ferrari for geo metro money, my friend, so don't expect the White House for your money. Start small and remain detatched from the investment, what I mean is, don't get emotional with it. Clean it up, and make sure the pipes, roof and windows are ok. Before you rent it out make sure any flues and chimneys are cleaned. Contact the Section 8/Welfare housing authority for the area where the property is located. They may be willing to take it over on a contract. You're guaranteed your money from the state when you rent this way. You need cash flow and regular tenants. You must be able to fix a fault if one occurs. Keep some of the rent income back, and always remember to pay your property taxes each year. You should be able to receive $250 - $300 per month for a 2, or 3 bed house anywhere. $3600 per year income is a good return on a $10k - $20k investment. The banks can't match that.
Don't be afraid to get creative with the sellers. You really want to get your deposit back if you can. So that you can move on to the next property. When looking for your investment, make sure it is habitable immediately. There's no point buying something that you can't rent out, and it is going to require months of refurb to be able to live in it. You'll have to make payments on it in the mean time. The essentials are running water, gas and electric supply, and the roof don't leak. Window glass can be replaced, wall paper can be restuck or hung. Ceilings and walls can be repainted easily. Carpets can be cleaned.

I believe this is the most likeliest way you will make something of your $1000

Lastly, when you are renting places out. Make sure you are able to withdraw $100 per month from each property out of the rent income. For example. You buy a house for $20k and your repayment is $160 per month. Your insurance and taxes are $40 per month. You want to be receiving $300 per month rent. The $100 per month extra will make it worthwhile. If you are only going to be able to receive $200 per month and your outgoings are $200 I would not recommend going for it unless you are acquiring it as a flip, or for appreciation reasons.

Good luck. The deals are out there. Forget cars, they go down in value. Don't bother with stocks, I've been a securities trader, I made, and I am still making my money in property. You can get rich as a day trader, but believe me, for every one person who made it day trading, there are ninety nine who have bombed.

Get talking to a local bank. I don't recommend the big ones at first. Talk to a loan officer at a small local bank where you intend to purchase. Assess what you can offer as further security to get you started.

Remember, don't aim too high to begin with. You won't get much for $10,000 but you should be able to get a house that you can rent out straight away.

Good luck

Answer 9

if you want to go about this in a legit way, you should invest the money really... there are many things you could do though, you could buy a cd duplicator and charge local artist to copy their cds LOTS OF MONEY COMES FROM THERE. or get a license to resale and you can buy a lot of stuff wholesale and put it on ebay, or a flea market

Answer 10

invest some of it in stock. Invest in something that you would think would make a lot of money and you can pull out anytime you feel like.