how would you double 20k & how long will it take?

Question

rule 72 could take up yo 6 + years. Any other options

Answer 1

Buy a house in a growing area for $130,000, and put down $20,000 - get an interest-only loan for the balance. Put renters into the property, use rents received to cover expenses including loan payment. If the property increases in value by 7% per year, after 3 years you can sell it for $159,000. After sales commission and paying off the $110M loan, you'll have about $40,000 (before capital gains tax of 15% on $29,000 gain, or about $4,400). You can avoid the tax by rolling the equity into another property.

Even with a hypothetical as straightforward as this, you'll have to find an area with properties in this price range, with good appreciation, and rents high enough to support the investment. Texas could be a possibility, but nothing is guaranteed.

You could also play the stock market and get lucky.

But the point is this: in general, risk and return have a direct correlation, so if you want to make more than a 5% return on your money, you'll have to take on the risk of losing money. I've made over $250M in equity over the last few years in real estate. Frankly, a lot of that was just luck - I know a lot of people whose homes have increased in value by more than twice that. But I wouldn't have made anything if I didn't try.

Find a strategy, build a plan, and go for it. Good luck.

Answer 2

If you make smart investments you can do it fairly quickly, but if you want to take a while and not touch said $$, you might look into a CD account in a bank. I think they can negotiate how long you can go without it. It does more than double this way though.

Answer 3

Roulette. Put it on red. Takes about 5 seconds.

Answer 4

purchase a forclosed home and sell it on ebay.