You already know that selling your structured settlement can get you a lump sum payment to buy a vehicle or home, go back to school, or invest; but what you may not know is that you can make the money from selling your structured settlement go even further.
Let’s take a look at the different ways you can put the lump sum you receive from selling your structured settlement to work.
Structured Settlement Lump Sum to Flip Homes and More
A great way to use the proceeds from selling your structured settlement is to put a down payment on a home or to upgrade your current home with renovations. What you may not have considered is that you can purchase a home with the money, fix it up, then sell it at a profit. Buying a home to increase its value and then selling it at profit is what’s called “flipping” and many of our customers have been able to make their lump sum payment go even further following this strategy.
Instead of fixing up the home, perhaps you purchased one in great shape, ready to be lived in. Why not turn it into an investment property and rent it out, providing yourself with a stream of passive income that could continue to generate rental funds for years to come?
Another option is to use the funds from selling your structured settlement to renovate your home. By turning an unfinished basement into a liveable, standalone unit you can rent out the space to a full-time tenant or occasionally through a service such as Airbnb. Either way, you’ve found a way to keep generating income from the sale of your structured settlement.
Buying a Vehicle for the Gig Economy
Purchasing a reliable vehicle is one of the most common ways our customers use the lump sum payment from selling their structured settlements. Owning a reliable vehicle can open you up to a plethora of full- and part-time money-making opportunities.
Of course, the most common way to make money from owning a vehicle is to use it to take you to and from a 9-5 job. But thanks to the gig economy, there are lots of ways to make money outside traditional 9-5s.
You could use your vehicle to become a driver for Uber or Lyft. This is a great way to earn full- or part-time income on your own schedule especially if you like driving and meeting people. There are also plenty of delivery services looking for drivers with their own cars. Instacart is an excellent choice for those who enjoy grocery shopping or Amazon for those who would prefer not to interact with customers.
Not into taxiing or delivery? Consider signing up for Task Rabbit which matches people willing to perform tasks to those willing to pay for tasks such as repairing drywall, picking up dry cleaning, or putting together IKEA furniture.
Maximizing Your College Career
Using the funds from selling a structured settlement to go back to school and train for a new career is a very popular option amongst our customers. In and of itself, going back to school helps you to make your structured settlement payout go further by increasing your earning potential. But there are ways to make it go even further.
Taking on an internship is an excellent way to get your foot in the door of a good employer and get started on the career you want. The downside is that internships are generally unpaid and therefore not a viable option for most people. By selling your structured settlement you can receive a lump sum payment to help support you while completing an internship, giving you an edge in your chosen career path and helping you to reach a higher paying position quicker.
Let RSL Funding Help You Make Money…with Money
The easiest way to make money is to already have money, which you can get by selling your structured settlement payments. Don’t sell yourself short – talk to the friendly staff at RSL Funding about the different ways you can use your cash payout to make your money start working for you! Call web_phone today.