The Grow Your Dough Throwdown – Courtesy of Jeff Rose!
What is the $1,000 Grow Your Dough Throwdown?
The Grow Your Dough Throwdown is a challenge for YouTubers in the personal finance community. We will take $1,000 of our own money and invest it in our niche.
The goal is to see how much money we can earn with just our original $1k investment by December 31, 2019.
My Dilemma
The majority of participants will be growing their dough through investing with stocks, bonds, index funds, etc. That isn't really my niche, and I didn't want to try and outpace the stock market.
However, buying a property with only $1,000 is not an easy feat, especially when I currently live in Hawaii.
For these reasons I had almost decided I was not going to participate in the Throwdown this year. After all, it is better to stay in my niche, than to lose money playing another mans game…right?
The Solution
That is until I was surfing with Doug Nordman yesterday and talking to him about my decision to bow-out.
Then it clicked…wait a minute, nobody said I had to invest in a particular manner. I've always enjoyed being the oddball, why not use that to my advantage in this challenge?
Doug and I talked about several unorthodox methods I could use to make this money work for me.
The Strategy
My strategy for this year is two-fold.
- I plan to build wealth by using my $1,000 to purchase and sell garage-sale items. Depending on how this goes I may find other oddball strategies to utilize.
- I plan to use the money I have accrued (and no additional capital) in order to purchase a duplex, triplex, or four-plex. This will take place after I execute orders and move back to the mainland this summer. I will count The cash-flow received, or mortgage covered, by renters as the return on investment for my original $1,000!
[mc4wp_form id=”189″]
The Competition
David Pere (ME) – From Military To Millionaire
Jeff Rose – hosting the 2019 Grow Your Dough Throwdown.
Joseph Hogue – A fellow Marine!
Graham Stephen – A fellow Real Estate Investor!
Sarah Wilson – Budget Girl
Ryan Scribner – Investing Simple
Nate O-brien – Investing, Entrepreneurship, Personal Finance
Bob Lotich – SeedTime Money
Allison and Matt Owen – Owen Your Future
Marko Z – WhiteBoard Finance
Will Armstrong – personal finance
Justine Nelson – Debt Free Millenials
Tela Holcomb – Stock Market tutorials
Antonio – B.A.B.Y. (Be A Better You)
Grow Your Dough Challenge Monthly Updates!
at the end of every month I will update this article to show where I stand.
January
Starting balance: $1,000
Ending balance: $1242.42
Total number of items pending sale: 16!
February
Starting balance: $1242.42
Ending balance: $
Total number of items pending sale:
