6 ms·

Ask HN: How to turn $1,000 into $10,000 in a relatively short period of time?

13 points by jmonegro 16y ago

I want to hear your ideas. Short as in less than 6 months, which I think is appropriate.

schn 16y ago
Use the first $1000 to live while you find a decent job, then work for 6 months.
- jmonegro 16y ago
  on the side, I will add.
  - schn 16y ago
    Then you'll need something nice and risky if you want that kind of ROI.
aymeric 16y ago
Buy cocaine and sell it to kids at the college's gates.
- garply 16y ago
  I almost down-voted this because it's illegal and I thought it was a sarcastic remark, but then I thought about it some more and, aside from working at a job or doing consulting, it sounds like one of the few realistic ways to do what you want to do. The downside risk is obviously pretty huge though - I wouldn't recommend it.
  - finnomenon 16y ago
    how does one downvote?
    - Concours 16y ago
      Only adults can downvote!
- coryl 16y ago
  I would do marijuana instead because its a bigger market: coke is still considered a hard drug, weed more popular. Not sure what the margins are, but you can certainly move volume without fear when dealing with college kids. I don't think dealers will try and put you out. You can also grow your own and wholesale to student dealers. Cocaine your stuck with finding a middleman.
nopassrecover 16y ago
Could try finding consult/contract work.
ljf 16y ago
If there was a magical way of doing this don't you think everyone would??? Plus even if you did have a great idea for a start up (which I am guessing you don't) most fail. Anyway, what are your skills? We can't give you much advice without that info - otherwise yes, the illegal is the only way to go... but seriously, what can you do? What could you normally earn in the open market? What are your costs? Do you want to have earnt 10k, or have 10k cash in hand? Can you live on next to nothing? Or will you need to earn 20 or 30k in that time?
MisterWebz 16y ago
Drug dealing.
mcherm 16y ago
Gambling. Amounts of this magnitude can be easily obtained in widely available gambling houses, and it is 100% legal. Of course, the downside is that the method is note completely reliable. To maximize your odds of success avoid games of skill or games with numerous independent probabilities. For instance, stopping by a Las Vegas casino and putting down all $1000 on 3 numbers on a roulette wheel would pay out 11:1 (thus achieving your objective with $1000 left over) and has a 8.82% chance of success. Of course, it has a 91.2% chance of FAILURE... but I am guessing nearly all other options would be worse.
- stiggz 16y ago
  Go to the casino, bet it all on black (50/50 for $2000), then bet it all on red (25% for $4000), then bet on 1st 3rd 1-12 (8.33%), you'll end up with $2000 to play sic-bo with. Good luck!
revorad 16y ago
Bet big on the world cup - http://smarkets.com/sport/football/world-cup-2010 http://smarkets.com/sport/football/world-cup-2010
meterplech 16y ago
why do random versions of how to turn $x into $y in z time seem to be the most common Ask HN of late?
- Psyonic 16y ago
  Because people want something for nothing. It's annoying though. If there was an easy and reliable way to get 10,000 from 1,000, we'd do it over and over and all be millionaires.
0x47 16y ago
Buy a lawn mower and an old truck for under a grand. Go around your neighborhood and offer to mow lawns for $50 1 time per month or more. Stop once you have 33 customers. Mow lawns everyday for 6 months. 50x33=1650x6=9,900. minimum. Hire help at $25 a lawn to scale.
- squidbot 16y ago
  Don't forget to factor in the cost of fuel for the truck and the lawn mower, as well as maintenance and any government fees. Otherwise, I like your plan.
- mikeknoop 16y ago
  Is that the going rate for lawn service around you? Neighborhood services typically charge ~$30 around me for mowing.
jeffepp 16y ago
Put the money into a brokerage account (I would do optionshouse.com) and purchase Call options for a biotech company with impending FDA approval. THIS IS WHAT I WOULD DO: Consider ARNA Jan 11 calls (4 strike). Currently at ~1.55 The stock will need to be around 15-16 for you to earn 10x. The FDA decision should be around October 22, 2010 If they are denied you lose all. If they are approved, you have a chance to be pretty close to 10 bagger Everyone DO YOUR DD before investing
- mistermann 16y ago
  > If they are denied you lose all. I can vouch for this from a personal (similar) experience: http://finance.yahoo.com/q/bc?s=SSS.V&t=3m http://finance.yahoo.com/q/bc?s=SSS.V&t=3m You don't even need FDA rejection to lose your shirt, in this case it was an unprecedented (compared to prior trials) improvement of patients in the placebo control group. Sometimes in investing it seems that anything that can go wrong, will go wrong.
  - jeffepp 16y ago
    This is certainly true. There are many, many risks. Without getting into too much detail: - delay (past Jan 11 expiration) - denial - partial approval All possible outcomes that would wipe out the $1,000. I would still consider this option superior to gambling or any illegal activities -- but that is a personal choice.
  - uptown 16y ago
    Flip side of the coin: http://finance.yahoo.com/q/bc?s=SSS.V&t=2y&l=on&z=m&q=l&c=NNLX http://finance.yahoo.com/q/bc?s=SSS.V&t=2y&l=on&... That said, I wouldn't recommend using the stock market as the best way to turn $1k into $10k.
deleted 16y ago
[deleted]
damoncali 16y ago
Two dumb, easy ways: 1. Go to Vegas, make some big bets. You'll probably lose it all, but you might not. 2. Lever up and bet on stock options. You'll probably lose it all, but you might not. And one smart way: 3. Go find a client who needs a website built. Charge him $9000 to do it, and finish within 6 months.

13 points by jmonegro 16y ago

I want to hear your ideas. Short as in less than 6 months, which I think is appropriate.

schn 16y ago

Use the first $1000 to live while you find a decent job, then work for 6 months.

jmonegro 16y ago
on the side, I will add.
- schn 16y ago
  Then you'll need something nice and risky if you want that kind of ROI.

aymeric 16y ago

Buy cocaine and sell it to kids at the college's gates.

garply 16y ago
I almost down-voted this because it's illegal and I thought it was a sarcastic remark, but then I thought about it some more and, aside from working at a job or doing consulting, it sounds like one of the few realistic ways to do what you want to do. The downside risk is obviously pretty huge though - I wouldn't recommend it.
- finnomenon 16y ago
  how does one downvote?
  - Concours 16y ago
    Only adults can downvote!
coryl 16y ago
I would do marijuana instead because its a bigger market: coke is still considered a hard drug, weed more popular. Not sure what the margins are, but you can certainly move volume without fear when dealing with college kids. I don't think dealers will try and put you out. You can also grow your own and wholesale to student dealers. Cocaine your stuck with finding a middleman.

nopassrecover 16y ago

Could try finding consult/contract work.

ljf 16y ago

If there was a magical way of doing this don't you think everyone would??? Plus even if you did have a great idea for a start up (which I am guessing you don't) most fail. Anyway, what are your skills? We can't give you much advice without that info - otherwise yes, the illegal is the only way to go... but seriously, what can you do? What could you normally earn in the open market? What are your costs? Do you want to have earnt 10k, or have 10k cash in hand? Can you live on next to nothing? Or will you need to earn 20 or 30k in that time?

MisterWebz 16y ago

Drug dealing.

mcherm 16y ago

Gambling. Amounts of this magnitude can be easily obtained in widely available gambling houses, and it is 100% legal. Of course, the downside is that the method is note completely reliable. To maximize your odds of success avoid games of skill or games with numerous independent probabilities. For instance, stopping by a Las Vegas casino and putting down all $1000 on 3 numbers on a roulette wheel would pay out 11:1 (thus achieving your objective with $1000 left over) and has a 8.82% chance of success. Of course, it has a 91.2% chance of FAILURE... but I am guessing nearly all other options would be worse.

stiggz 16y ago
Go to the casino, bet it all on black (50/50 for $2000), then bet it all on red (25% for $4000), then bet on 1st 3rd 1-12 (8.33%), you'll end up with $2000 to play sic-bo with. Good luck!

revorad 16y ago

Bet big on the world cup - http://smarkets.com/sport/football/world-cup-2010 http://smarkets.com/sport/football/world-cup-2010

meterplech 16y ago

why do random versions of how to turn $x into $y in z time seem to be the most common Ask HN of late?

Psyonic 16y ago
Because people want something for nothing. It's annoying though. If there was an easy and reliable way to get 10,000 from 1,000, we'd do it over and over and all be millionaires.

0x47 16y ago

Buy a lawn mower and an old truck for under a grand. Go around your neighborhood and offer to mow lawns for $50 1 time per month or more. Stop once you have 33 customers. Mow lawns everyday for 6 months. 50x33=1650x6=9,900. minimum. Hire help at $25 a lawn to scale.

squidbot 16y ago
Don't forget to factor in the cost of fuel for the truck and the lawn mower, as well as maintenance and any government fees. Otherwise, I like your plan.
mikeknoop 16y ago
Is that the going rate for lawn service around you? Neighborhood services typically charge ~$30 around me for mowing.

jeffepp 16y ago

Put the money into a brokerage account (I would do optionshouse.com) and purchase Call options for a biotech company with impending FDA approval. THIS IS WHAT I WOULD DO: Consider ARNA Jan 11 calls (4 strike). Currently at ~1.55 The stock will need to be around 15-16 for you to earn 10x. The FDA decision should be around October 22, 2010 If they are denied you lose all. If they are approved, you have a chance to be pretty close to 10 bagger Everyone DO YOUR DD before investing

mistermann 16y ago
> If they are denied you lose all. I can vouch for this from a personal (similar) experience: http://finance.yahoo.com/q/bc?s=SSS.V&t=3m http://finance.yahoo.com/q/bc?s=SSS.V&t=3m You don't even need FDA rejection to lose your shirt, in this case it was an unprecedented (compared to prior trials) improvement of patients in the placebo control group. Sometimes in investing it seems that anything that can go wrong, will go wrong.
- jeffepp 16y ago
  This is certainly true. There are many, many risks. Without getting into too much detail: - delay (past Jan 11 expiration) - denial - partial approval All possible outcomes that would wipe out the $1,000. I would still consider this option superior to gambling or any illegal activities -- but that is a personal choice.
- uptown 16y ago
  Flip side of the coin: http://finance.yahoo.com/q/bc?s=SSS.V&t=2y&l=on&z=m&q=l&c=NNLX http://finance.yahoo.com/q/bc?s=SSS.V&t=2y&l=on&... That said, I wouldn't recommend using the stock market as the best way to turn $1k into $10k.

deleted 16y ago

[deleted]

damoncali 16y ago

Two dumb, easy ways: 1. Go to Vegas, make some big bets. You'll probably lose it all, but you might not. 2. Lever up and bet on stock options. You'll probably lose it all, but you might not. And one smart way: 3. Go find a client who needs a website built. Charge him $9000 to do it, and finish within 6 months.