Want to make $10k in a week?
While it won’t necessarily be easy, it is possible!
$10,000 can be a life-changing amount of money for most people, so it’s no wonder that so many of us dream of earning it that quickly.
In this post, I’ll explore how to make $10k in a week, some tips to earn extra income, and much more . Let’s get started!
KEY TAKEAWAYS: How to Make 10k in a Week
If you want to make $10k in a week, give some of these methods a try! While not every option will work for each person, there’s sure to be something on the list for everyone. Sell Your Home
If you own a home and have equity in it, selling it is one of the best ways to make a quick $10k in a week.
The average American home value is around $375,000 – so you could stand to make a nice chunk of change if you sell it.
For example, if your home is worth $300,000 but you only owe $200,000 – you could walk away with $100,000 pretty quickly.
Wondering where you can live after selling? You can always rent after you sell or move in with family or friends. Or you can try these cheap living ideas!
While this method won’t be available for everyone, it’s definitely worth considering if you’re in a position to do it.
Just remember to account for any fees that come with selling your home like realtor commissions and any potential taxes.
It’s also worth noting that oftentimes it can take over a week to sell your home – so this method won’t work if you’re looking for a way to make $10k in 7 days. Cash Out Refinance
Another way to take advantage of your homes value is to cash out refinance your mortgage.
A cash out refinance is when you take out a new loan that’s larger than your current mortgage and receive the difference in cash.
For example, let’s say you have a $200,000 mortgage with a 4% interest rate. You could refinance to a new loan of $250,000 and receive $50,000 in cash.
The new loan would have a higher monthly payment, but you would have the $50,000 in cash to use however you want.
This method can be a great way to get your hands on some extra cash quickly, but it’s not without its risks.
Before you refinance, make sure you understand the terms of your new loan and how it will impact your finances.It’s also important to note that your home will have to be worth more than your loan. Banks will typically loan up to 80% of your home’s value, so if you owe $100,000 on a home worth $200,000 – you’re in good shape as they will often loan around $160,000 leaving you with $40,000 in cash. Sell Your Car Selling your vehicle is probably the easiest ways to make $10k in a week if you have a car that’s worth a decent amount.With car prices on the rise, it’s not uncommon for people to have vehicles that are worth $10,000 or more. In fact, the average used car is now worth over $28,000 !If you own a newer model car, truck, or SUV – you could definitely make $10k by selling it.If you live in a major city, there’s a good chance you can find a buyer for your car within a few days.The process is simple – just list your car on sites like AutoTrader or Craigslist, and wait for someone to reach out to you.Once you’ve found a buyer, negotiate a price, finalize the sale.You’ll need to transfer the title of the vehicle, but the process is relatively straightforward. Start a Business Starting a business is a great way to make a tremendous amount of money – but it’s not for those who aren’t willing to put in the work.There are many different types of businesses you can start to make money and take advantage of the benefits of entrepreneurship .The key is to find a business that you’re passionate about so you can stay motivated and dedicated through the inevitable ups and downs.For new entrepreneurs, I recommend starting a service based business because these can cost very little upfront and can make great money.For example, starting a car detailing business can cost less than $500 to start and you can easily make $1,000 per week or more.In order to make $10k in a week by starting a business, it’s critical to have a plan and execute it efficiently.This […]
Want to make $10k in a week?