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Why would I want to trust a stranger with my hard-earned money? Now, you're probably thinking that sounds a bit risky. If you're looking to (passively) turn your money into more money, you might consider lending it out with M圜onstant, a peer-to-peer lending app. Right now, Seated is limited to certain cities, but it's worth checking to see if they're in your area too. They can connect you to thousands of restaurants throughout the U.S., and you can use the app to schedule your pickup, reservations, or delivery.Īnd in a recent update, they added the ability to confirm the price of your meal by taking a picture of the receipt, so there's no need to link a credit card. It's a great way to discover new places to eat, with a search function that lets you sort by a variety of features like price, food type, ratings, and plenty more. If you like food-who doesn't?-then you'll be pleased to learn about Seated, an app that offers cash back on food delivery, pickup, and restaurant reservations. Neighbor even offers a Host Guarantee, so that if something happens to your property because you used the app, you should be covered. Just sign up, post your rentals on the app, and wait for people to sign up. If you've got open space in your garage, empty bedrooms, or even a spare parking space, you can turn it into a source of supplementary income with almost no effort. With the Neighbor app, you can rent unused space around your property to people in your neighborhood. Turo also offers contactless check-in to save your time, and liability insurance, so you know your car is safe, even when it's in someone else's hands.Īnd for those looking to really level up their passive income, there's always the option of putting together a whole fleet of rental cars and turning it into a business. While those will certainly eat into your profits, if you're not using the car and could use some extra cash, it's certainly better than letting it sit around under a tarp. You just create a profile, add your car to the app, and then users can rent it out at their-and your-convenience.Īccording to Turo, the average car can earn $10,516 a year in rentals, not accounting for maintenance, cleaning, insurance, and deductibles. If you've got a car sitting idle much of the time, you can turn it into a source of passive income with Turo. Still, for the potential rewards, putting in a little effort is worth it. Consistently good reviews are important, as well as maintaining a clean and comfortable space for people to stay in. Of course, there may be some work involved. You could make hundreds or even thousands of dollars a month from renting out your property. There is potential for real money with Airbnb, depending on the desirability of your location and whether short-term rentals are permitted. If you do have some extra space-an empty condo, a spare room, a guest house-then you can earn passive income by renting it out on Airbnb. There are no management fees, and with a $500 minimum investment to start, you could see your wealth grow a whole lot more easily than if you decided to rent out a house somewhere. Or you could buy part of a multifamily home, or even part of a few with DiversyFund. Even if you hire a property management company, they'd be profiting from your investment too. And then you'd be stuck playing landlord.

Sure, you could spend years of your savings and buy a property to rent.

DiversyFund is another option for those looking to grow their wealth through investments in crowdfunded real estate.