Storage Space Leasing: Turn Your Extra Space Into a Storage Unit

 Do you have an underutilized garage, shed, basement, or attic? Are you willing to clean it up? Then you’re a good fit for Neighbor.com, a peer-to-peer (P2P) platform that connects folks who need extra storage space with those who have it in spades and aren’t using it.

Neighbor.com advertises rental rates at 50% of the going rate for self-storage units, although you’ll earn a bit less than that after the platform takes its cut. Still, that’s quite a bit of passive income for doing basically nothing at all.


. P2P Lending: Put Your Excess Capital to Work (Part 1)

The sharing economy has created new opportunities for regular people to put their excess capital to work. Two opportunities are worth calling out here:

  • Real Estate Crowdfunding. Real estate crowdfunding websites like Groundfloor allow everyday investors to lend money for real estate projects. Loans return anywhere from 5% to 25%, depending on their risk level. If you’re looking for other ways to invest indirectly in real estate consider a platform like Crowdstreet.
  • P2P Lending. Peer-to-peer (P2P) lending platforms such as Prosper are reputable outlets for nonaccredited individuals seeking above-average returns on investment — anywhere from 4% to more than 10% annually, after accounting for nonperforming loans and the platforms’ service charges.

A word of warning: Unlike high-yield savings accounts and CDs, P2P loans and real estate crowdfunding opportunities are not FDIC-insured or SIPC-protected. That means they present the very real risk of loss of principal. Don’t lend any funds you can’t afford to lose, and thoroughly read platforms’ prospectuses and disclaimers before participating.

. Investing: Put Your Excess Capital to Work (Part 2)

Although certain types of securities accounts are SIPC-protected, investing in stocks, mutual funds, and exchange-traded funds (ETFs) isn’t without risk. While you should never invest money that you can’t afford to lose, putting your excess capital to work in the market is a great way to beat persistently low savings account interest rates.

Get started by checking out our roundup of the best brokerage account promotions — Robinhood’s free stock offer is particularly compelling right now.

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