Investing should be done responsibly, but responsibly doesn’t always mean boring, right? If you’re looking to add a little bit of excitement to your investing routine, here are seven investing ideas you probably haven’t considered. We discussed alternative investments last week, and that's precisely what each of these are. There are different risks, but the rewards can be substantial.
Blogs can be amazing sources of income. The income earned from blogs can be diversified in several different ways, making blogs a very attractive investment option. Although, you do need to note that blogs are not necessarily passive income investments. They require work, and sometimes a lot of it.
If you are interested in investing in a blog, you need to determine in which avenues the blog should be monetized. You’ll also need to narrow down a niche and you will have to possess some blogging knowledge and skills.
You can head to a place like Flippa.com and browse blogs for sale. You can then get in on the bidding action. Think there's no money in blogging? Our friend J Money at BudgetsareSexy.com highlights personal finance blogs that have sold for millions . . . yeah, millions!
2. Domain Names
Along with blogs, domain names are another great way to invest in the World Wide Web. Since most of the one-word domain names are already taken, you may have to get a bit creative.
You can try misspellings of popular words, companies, or stores. Or you could try to come up with a trendy, nice-sounding domain name. If you come up with the right domain name, you may be able to sell it for hundreds — or even thousands — of dollars.
Best of all, investing in domain names is cheap. You can buy a domain and web hosting at a site like Bluehost for as little as $3.95 per month.
3. Classic Cars
There are many, many classic car collectors. If you can find a sweet deal on a classic car you may be able to hold it for a few years and make a hefty profit.
You may even get a better ROI from collectible cars than from the S&P 500. Classic car prices have been steadily increasing over the past year. In fact, it’s reported that earlier this year a 1967 Ferrari 275GTB/4 NART Spider sold for a cool 27.65 million dollars!
When investing in classic cars you also need to take into consideration maintenance and storage costs. The value of your classic car is going to depend on the year, make, model, and condition.
I live in a small country town and my grandma owns the only gun shop around. When there was talk of anti-gun laws a year ago gun prices shot through the roof — crazy high! This is exactly why we've discussed investing in guns before.
Guns that had value of $600 began to fly off the shelf at $2,400. Even the gun dealers and manufacturers were running low on firearms. While this behavior has slowed down, guns hardly ever depreciate (as long as they are well taken care of).
A gun bought today could be worth two to five times as much in twenty years depending on the make, model, and condition.
If you have an eye or an interest for rare coins they could be a great investment option. Just look at the average return on buying investment grade coins over the last 10 years:
A quick Google search tells me that high-grade, key date coins are the ones to go for. But, just as you would with any other investment, you need to research coin values thoroughly before making a purchase.
6. Fine Art
If you have a good understanding of art, this can be an excellent investment option. The key is being able to differentiate fads from the timeless pieces.
Some artwork that’s popular now may not be popular in 20 years. To be a successful art investor you need to know the difference.
7. Sports Memorabilia
Even when the stock market tanks, sports memorabilia can hold its value. Just like art, you have to be able to differentiate the high-end sports memorabilia from the low-end sports memorabilia.
Investors interested in purchasing sports memorabilia have an emotional attachment, making it much more appealing to them. If you can get your hands on some high-end sports memorabilia and find an interested buyer, you have the potential to earn a very high return.
If you’re sick of your same old boring investing routine, one of these seven ideas can add a little flavor to your variety. Just be sure to invest responsibly and go with what you know.
If you know nothing about art or coins, don’t invest in them. However, if you consider yourself a buff, then why not?
Be sure to do your due diligence before entering into a new investment option and remember: you can take it slow.
What is the most unusual thing you’ve ever invested in?