The Best Ways To Invest Your Extra Money for Top ROI
Updated: Oct 5
Since we have all been stuck inside and saving money on commuting as well as collecting helpful stimulus packages you might be thinking about something to spend your money on. Before you jump online and treat yourself to an IKEA extravaganza consider the better option: investment. It may not offer the immediate gratification we all enjoy but the longer-term dividends are worth it. In this article, I will be telling you my top investment tips that can earn real ROI!
Let’s Dive In
#1: Property Sourcing Company
A property sourcing company unlike an estate agent, sources properties that have high investment potential with you in mind. They are looking for the best price, location, and set up to meet your requirements. A property sourcing company, like Winova Properties, can provide you with invaluable advice and contacts with the necessary resources. Here are a few things to consider:
Ask about purchasing and letting apartments if you would like a monthly passive income
Consider if you would like to have a refurbished property or turnkey
Consider your timeline – sourcing takes around four months
Research rental yield beyond your area – Liverpool, for example, is at a high of 10%!
Always choose a fully compliant property sourcing company that is registered and insured
With property investment due diligence and having a reliable property management partner are critical to seeing your investment flourish.
#2: Investing Money Online
Now is a great time to put that money aside for a rainy day. Having a savings account with a high-yield means your money is working for you. It’s easy to set up at your local bank or consider doing your own research and looking for the best account and interest rates currently available. Other bank investments to consider include ROTH IRA’s and CDs. Both offer good ROI.
Other types of investments can involve more risk so discuss with an expert on what investments are currently worth your time. If you have already dabbled a bit in investments consider diversifying your portfolio learning from the current trends. Some top expert pics include:
S&P 500 index funds
Nasdaq 100 index funds
Money Market accounts
#3: Making Money From Your Site
This a broad term that is used often to describe income that you don’t have to directly do anything to earn. This can include things we have already touched upon such as index funds or property purchase. Both of these require some sort of start-up capital but there are ways to make income with very little cash as well.
Typically the breakdown is having an upfront monetary investment or using your time. Forbes recently created a list of their top ten ways to make money from home. Some of my picks from that list were affiliate marketing. A tried and true favourite that is gaining more popularity as of late. You can do this through YouTube or other forms of social media.
As you can see there are so many great ways to make investments and earn money by choosing some different options. To invest your money wisely consider property sourcing to grow your capital and renting it out to pay off your mortgage and sell. Savings accounts and online passive income options available online are great ways to earn up to a few thousand extra pounds a month.
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