5 strange and innovative opportunities to earn a passive residual income
There are a number of strange and innovative passive residual income opportunities that you can utilise, and you will likely already possess the tools to help you start doing this immediately. With assets and items around your house you will be amazed at how much money that you can start earning each month by leasing or granting access to people that are willing to pay a premium for your items. There are a number of assets that you possess that are likely sitting idle in your house that you could put to work today. These may include a spare room (or even a couch) in your house, some storage space in your house, a car space that you don’t use (especially if you live in a place that people commute to), renting out your car on the days that you don’t use it (or when you are on holidays), or even renting out your lawn.
Renting out your couch
If you live in a place that attracts many tourists you will be amazed at what people might pay to stay on your couch. If you have a spare room then you will obviously be able to charge more money. With the advent of peer to peer lodging through sites such as AirBnB it is now possible to generate a passive income source through researching what people would pay to stay in your area and charge accordingly for the night. Just out of curiosity, have a look at properties in your area and what other passive residual business operators are charging per night for someone to stay on their couch.
Renting out some storage place in your house
If you have some spare room in your garage, shed or house you will be pleasantly surprised by how much people are willing to pay to store items at your place. The paid storage phenomenon is exploding exponentially due to people downsizing in accommodation or people being too good at buying things that they don’t need. Have a look at sites such as storewithme.com or storeroomrental.com.au or spacer.com.au to get an idea of how much passive income that you could earn.
Renting out your car space
If you live in a place that is desirable for commuters you will be amazed at what people will pay to park in your driveway. There are numerous sites that link commuters with driveway owners that will enable you to start earning a passive residual income almost immediately, especially if you live in a highly desirable location. Have a look at sites such as justpark.com or parkhound.com.au to get an idea at how much passive income you could generate.
Renting out your car when you are not using it
If you have a vehicle that you infrequently use or you are going away on holidays for a period of time, you will be interested to know that there are a number of peer to peer sites that link car owners with car renters. The amount of passive income that you can make through renting out your vehicle varies depending on the type of vehicle and where you are renting it from. Have a look at sites such as carnextdoor.com.au or turo.com to get an appraisal of what your passive residual income might be.
Renting out your lawn for campers
Whilst it is indeed a strange way to earn a passive residual income people around Australia are renting out their lawns for campers to lodge for a few nights or a few weeks! If you live in a desirable location then you might be surprised by what people will pay to camp at your house. Have a look at home-camp.com for some inspiration on earning a passive residual income by renting out your lawn to campers.
Other Passive Residual Income Opportunities
For more details on the above ideas and more strange and innovative passive residual income opportunities have a look at this site http://passiveresidualincomefreedom.com