When it comes to investing, stocks, bonds, and real estate usually come to mind. However, there’s a world of uncommon investments that, while they may carry higher risks, can also potentially lead to significant returns.
Here are 10 unconventional investment avenues that could potentially boost your financial portfolio:
1. Collectible Sneakers
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The market for used trainers is growing, and the values of rare, collectible shoes rise over time. Smart investors will often buy limited versions at full price and then sell them for many times what they were bought for.
2. Domain Names
Domain names are like digital real estate that you can buy and sell. You can make a lot of money by buying catchy, unique domain names for cheap and then selling them to people or businesses who are interested.
3. Peer-to-Peer Lending
There is some danger with platforms that let you lend money directly to people or small businesses, but the returns can be higher than with a regular savings account.
4. Vintage Wines
As time goes on, fine wines may gain value. People who know a lot about the wine market and have a good sense of taste can make a lot of money from this liquid business.
5. Crowdfunded Businesses
It can be risky to invest in startups through crowdfunding sites, but early investors can get a big share of the income if the business does well.
6. Storage Unit Auctions
It can be risky to buy the things that are in storage units that have been left empty, but what one person throws away can be someone else’s prize. In these units, you can find rare things that can be sold for a lot of money.
7. Video games and e-sports
The game industry is growing very quickly. As the industry grows, investing in eSports teams or gaming startups can be a good idea.
8. Royalties from Intellectual Property
If you buy the rights to music, books, patents, or other types of intellectual property (IP), you may get royalties every time they are used or leased.
9. Motivational novels and comic books
Some first editions or rare issues of well-known motivational books can fetch tens of thousands or even millions of dollars. If you keep them in mint shape, their value will often go up over time.
10. Agricultural Investments
Putting money into farms or certain crops can give you a lot of return. This can include everything from standard farming to growing organic or rare crops that are in high demand.
Things to think about before investing:
Due diligence: Before making an unusual investment, you should always do a lot of study on it. The key to success is to know the market.
Ability to handle risk: These investments aren’t as safe as other types of investments and can be dangerous. Don’t risk more money than you can afford to lose.
Diversification: As with any investment strategy, don’t put all your eggs in one basket. Having a diverse portfolio can help you handle danger.
Long-Term View: A long-term view is needed for many unusual purchases. You should be ready to keep your property for a long time.
Putting your money into these less popular assets can be fun and make you money. You should still be careful and plan ahead when making these investments, just like you would with other kinds of investments. If you use the right approach and are lucky, these unusual investments could make your portfolio more interesting and profitable.