Here are 5 side hustles that can make you an extra $50 or more per day in passive income.
Let me know what you think, ask me a question, or suggest something I cover in the future in the comments below!
1. Airbnb
This is probably the site that can make you the most money of the 5 on this list.
With Airbnb, some people make 2 or $300 per night, depending on what they list.
Although you can also use Airbnb to make money from experiences and adventures, for passive income, you want to focus on renting out a home or room.
Here are some properties that tend to do well:
- Cabins
- Ranches
- Suburb homes
- Small town homes (if there are things to do in the town)
- Locations close to convention centers
- Homes in college towns
You can also use their income calculator to figure out how much you could potentially make based on the property, room, location, number of guests, etc. Click here to go to the Airbnb calculator page.
For a more full-time way of making passive income with Airbnb, check out this post.
2. Turo
With Turo, you can rent out your vehicle to people that need transportation for a few days.
More and more people are doing this to save money and get different choices for renting a car. What's nice is YOU get to make money instead of the huge rental car companies.
With Turo, you might make an extra $750 per month or so from an average car that you rent out pretty often.
This is especially a great way to make passive income for people who work from home or have multiple vehicles.
On top of you getting paid, Turo has a deal with Liberty Mutual Insurance to cover your vehicle in case something happens while a renter is driving.
Check out their “Carculator” here to estimate how much money you can make.
3. RVShare
If you have a travel trailer, motorhome, or some other kind of RV, you can rent it out when you're aren't using it with RVShare.
Just about everyone I've known who has had an RV (that doesn't live in it) would only use it a few weekends every year. The rest of the time, it just sits there unused.
This no longer has to be the case. In today's world your car, spare bedroom, and now even your RV can be bringing in income when it isn't being used.
According to RVshare, you could make as much as $40,000 per year in extra income this way.
They also have RVshare Rental Insurance to protect you if something goes wrong.
Check out how much you can make and get started here.
4. Pavemint
On top of renting out your living space, vehicle, and RV, you can also rent out your parking space using Pavemint.
This is especially effective if you live in a major city or near a stadium/event venue.
Everything is taken care of through the iOS app. Kind of like Uber, DoorDash, or another sharing economy app, it has a map with potential spots, the price, and how long you can park there.
5. Campspace
Another sharing economy type of site that you can use for extra money is Campspace. This site lets you rent out your backyard for people who want to camp.
This, of course, is especially great for people who have scenic yards or just a lot of acreage.
Kind of like Airbnb, people just go to the site, look at what's available, and book their stay.
As far as locations, most listings are currently in Europe, but there are also some springing up in the Americas, Africa, Australia, etc.
More Passive Income Ideas Here:
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