Some people say their home is their greatest asset, but without it generating any type of revenue, that asset is kind of a dud until you sell it. If you’re looking for ways to turn your home into an income generator check out these ideas to start taking in some extra cash with your home.
1-AirBnB Your Extra Room or Bed
If you have a spare room in your place, you can rent it out via AirBnb. The sharing space is bursting right now with new ways to rent out things. This is a great way to make some extra cash for the rooms you aren’t using in your house. If you are wanting to learn more about AirBnb there is a great guide here.
2-Home Away Your Property
Have more than a room to rent out. Why not rent out your whole house! We’ve used Home Away and it is a great system for both the renter and the owner. Best of all you can earn some really good extra money. This is a great way to make your house earn money for you. Check out VacationRentals.com for free or sign up with Home Away.
3-Buy a Rental Property
If you don’t like the idea of renting your own place you could buy a separate rental property. This is a big investment, but it can turn into a great stream of revenue if you find the right place. Best of all you have your tenants paying your mortgage down and you can find yourself owning a second home mortgage free sooner than you know it. Here are some books to get started:
- The Book on Managing Rental Properties: A Proven System for Finding, Screening, and Managing Tenants with Fewer Headaches and Maximum Profits
- The Book on Rental Property Investing: How to Create Wealth and Passive Income Through Intelligent Buy & Hold Real Estate Investing!
4-Offer Indoor Storage
If you have space in your home you can start renting out an area for people to store things. I know of a few people that rent a place for their boats, or other seasonal items that they don’t want to keep in their house because of space.The storage industry is a multi-billion dollar space. Maybe it’s time you get in on it?
5-Offer Vehicle Storage
If you have a garage, you can turn that space into cash. A lot of people want to keep their precious summer car out of harms way for the winter. Why not offer the space for a monthly fee.
6-Offer Outdoor Storage
If you have a large yard or a space you aren’t using, you can rent it out to people with large motorhomes to store through out the year. There are several people outside of our city that do this. With enough space you could easily cover your mortgage payment with just renting out your yard.
7-List Your Home With Movie Agencies
Movies are always needing places to shoot their films. We have several friends in our town that have offered up their place to use in filming multiple movies over the years and have been paid very well for it. There is a great article on this here.
There you have it. If I come up with any other ideas I will add them in. In the meantime you can pin this post and check back on it.