I make an extra $925 a month by renting out parking spaces. It's the easiest source of passive income I've found.

"Now, I run MTR Authority, a program that helps other investors build and scale mid-term rental operations, create systems for financial freedom, and uncover overlooked income streams, with my wife, Shannan. One part of our business involves renting unused parking spaces, and it has become an excellent source of passive income. I started my career bouncing around the corporate world From 2010 to 2018, I held a variety of corporate leadership roles, where I learned the fundamentals of operations, project management, and process design."

"In 2019, Shannan and I started experimenting with short-term rentals on the side. Over the next few years, that side project evolved into a real-estate business centered on mid-term rentals (MTRs) and rental arbitrage, the process of leasing a property in the name of your business, and within the rental agreement with the property owner, your business can then sublease the property."

Nick and Shannan Copland built MTR Authority to help investors build and scale mid-term rental operations, create systems for financial freedom, and uncover overlooked income streams. They use rental arbitrage to lease properties to their business and sublease them to tenants. They also rent unused parking spaces through platforms like Neighbor to earn passive income. Nick previously held corporate leadership roles from 2010 to 2018 and applied operations and process design skills to real estate. They started with short-term and glamping rentals, transitioned to mid-term rentals, and eventually replaced their combined W-2 income to focus on portfolio growth and coaching.

Read at Business Insider