How Are People Making A Second Income In 2019?

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Even if you really enjoy your job, it’s great to have a second income too, and if it’s a passive income, meaning one where you’re getting paid for little or no effort, then that’s even better. 

In 2019 it’s easier than ever before to make your side hustle pay, which is why an estimated 4 in 10 Americans are now doing it. In the past you might have rented out a spare room or basement on Airbnb, but now there are even more options available for making your possessions pay. For instance, you could rent out your car using peer-to-peer vehicle sharing app Turo, and go to work by bike or carpool instead. This is a great idea for people in cities who don’t necessarily need a car to get around. As an example, if you’re in Los Angeles California and you rent out your Acura ILEX for 11 days a month, you’ll receive $386. Not bad for doing nothing!

You could also try renting out your camera equipment on KitSplit (formerly Cameralends). Lending your Canon EOS 60D could net you $30 a day, and let’s face it, how often do you use your camera? Not all the time, so it makes perfect sense to monetize your camera’s downtime. And it’s not just the camera you can rent out, but any other equipment that you have too, including tripods, lighting lenses and even drones. And as a bonus, KitSplit members find that the experience connects them with other owners who often become collaborators. So, you not only get to make money lending out your gear, you get free networking too.

It seems that whatever you own now, there’s a sharing platform out there that will connect your stuff to eager borrowers. You may not be rich enough to own a car or fancy camera gear, but chances are you may own a bike or a snowboard, and if you do then they too can be rented out to other people on Spinlister. Bicycle rental in major cities is nothing new, but this air B&B style peer-to-peer bicycle rental service gives bike owners the chance to make some money. Not much admittedly, maybe $25 a day for a run-of-the-mill bike and only more for something exotic, but it’s free money for something that you aren’t using.

For those with a coast on their doorstep and a sailboat or luxury yacht in their backyard, Sailo can help you make money off your boats. This is great news because boats are generally not great investments. They cost a lot to own and operate, and you only use them a few times during the year. Sailo works so well because it’s a peer-to-peer marketplace that brings the air B&B model to boat rentals. So, for instance, in Miami, for a 44-foot yacht that’s sitting idle you could be charging $1500 for a half day, or $500 for a half day with a 38-foot sailing yacht. Not bad at all!

So, whether you have a humble bicycle or a sprawling yacht, chances are you could be making extra income renting them out. Nice work if you can get it!

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