3 Ways People are Making Side Income with Peer-to-Peer Business Opportunities

Everyday new ways of making income with peer-to-peer services are opening up to individuals. The peer-to-peer economy is giving people more opportunity to make money off of assets they already own, or to strategically invest in money-making activity outside of traditional business structures. Here are 3, out of the many, ways people are capitalizing on these possibilities.

Renting out a home or room overnight or short-term, through avenues such as Airbnb, has been around for a while, but people are also renting out ideally located homes and properties for special events through brokers and additional outlets.

One very recent example centers around the Ryder Cup golf tournament that just occurred in Minnesota, where “people (were) making anywhere from a couple thousand dollars to tens of thousands” to rent out their homes to visitors, often celebrities, who wanted to stay directly on or near the golf course rather than nearby hotels. Some people said they were using the sizable amount of money earned to invest in their children’s college education, from less than a week’s worth of renting out their own property.

One of the most popular ways to make money in the new side hustle economy is P2P (peer-to-peer) lending. There are numerous sites for P2P lending, such as Prosper.com and Lending Club. These sites give individuals the chance to seek out or chip in on part or all of a loan, similar to crowd-sourcing sites, for a percentage return on interest, and they operate under various rules depending on state laws.

Deciding to engage in this type of financial endeavour will depend largely on an individual’s risk propensity or aversion, though there are already success stories, as well as guidance available in navigating the liabilities inherent in the activity.

EquipmentShare is another, more unique P2P service, billed as the “Airbnb for construction.” It offers a marketplace for people to rent and to rent out construction equipment, as well as providing a delivery service for construction equipment bought and sold through the marketplace.

In the same spirit as these opportunities to join the peer-to-peer shared economy, our company STOW IT offers a better, more flexible option for personal storage and parking. If you are looking to earn extra income offering storage space, or to use a more economical storage space option, contact us today!