Let’s Build Some Income Streams
Hey there, Tom here.
When people think about making money with the gig economy, most people think about using apps like Uber and DoorDash.
BUT did you know there’s a world of money-making opportunities within the gig economy that are far more passive?
That’s right…And in certain cases, these methods can let people earn hundreds or even thousands of dollars per month in additional income while monetizing assets they already own.
💵 Welcome to the wild, wacky world of the ‘Sharing Economy.’
And I’m not talking about renting out your extra bedroom to some weird dude off of Airbnb.
As it turns out, there’s dozens of niche sharing economy apps that let you turn assets you own into new income streams.
Time to break down some of the most interesting apps in this space and how you can leverage them to make some extra money 😎
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🤝 Welcome To The Sharing Economy!
One reason I love WiFi Wealth is that technology has created so many niche, awesome side hustles.
The sharing economy is a perfect example.
There’s now apps for renting out just about anything you own to people in your city in exchange for cash. And some of these platforms can turn into pretty serious side hustles that are also incredibly hands-off.
Here are some niche sharing economy apps you can consider leveraging:
Neighbor – A peer-to-peer self-storage marketplace where you rent out unused space in your garage, basement, driveway, or spare room to people needing storage nearby. It's often positioned as a cheaper alternative to traditional storage units for renters, while hosts can earn passive income from space that would otherwise sit empty.
RVShare – For RVs and campers, RVShare connects owners with travelers who want to rent an RV for a road trip without buying one outright. Because RVs are expensive and often sit unused for most of the year, this is a popular way for owners to offset ownership costs.
Swimply – Lets homeowners rent out their backyard pool (and increasingly tennis courts, pickleball courts, and other backyard amenities) by the hour. It's one of the more viral "unique asset" examples in the sharing economy, since most people never think of their pool as an income-generating asset.
SpotHero – A marketplace for pre-booking parking spots, mostly used by drivers to reserve guaranteed parking near events, airports, or downtown areas. Some spot owners and garage operators also use it to monetize unused or underused parking spaces. My friend does this in Toronto and I’ve also booked spots before as a renter myself.
BabyQuip – Connects traveling parents with local "Quality Providers" who rent out and deliver baby gear like cribs, strollers, and car seats. It's a great example of a hyper-specific niche within the sharing economy. If you have some old baby gear laying around, I’d give this a try.
ShareGrid – A peer-to-peer rental marketplace specifically for camera, film, and audio gear…Think cinema cameras, lenses, lighting, drones, and more.
Turo – The largest car-sharing marketplace, letting you list your car (or a fleet of them) for others to rent by the day. Hosts set their own price and availability, and Turo has become popular enough that some people build small businesses around buying cars specifically to rent out on the platform.
Peerspace – Lets people rent out unique spaces (homes, studios, rooftops, event venues) by the hour for photo shoots, meetings, or events, rather than the whole night like Airbnb. It's a good example of "monetizing your space" without giving up overnight access to your home.
Boatsetter – The boat-rental equivalent of Turo, where owners list their boat (with or without a licensed captain) for renters to book by the day or hour. It's a strong niche pick for anyone near water, since boats are notorious for sitting unused most of the year.
This is honestly scratching the surface of the sharing economy world 😂
But these sorts of platforms do work. I even have a friend in Toronto making around $200 per month listing their parking space for rent. They’ve had the same renter for over two years…Barely any work, and it’s an easy addition to their monthly income.
Someone else on my Subreddit shared how they specifically bought a pressure washer and now rent it out to people in their neighborhood by the day or hour. It’s paid for itself in no time.
Another guy took things to the next level and has started a bouncy castle rental business. Far more niche and more serious, but again, it’s a rental side hustle.
Of course, there is some work involved in all of this…You need to chat with potential renters, arrange for meet-up and drop-off of your items or access to your space, and run this as an ongoing business.
But again, a lot of these rental arrangements can take place for weeks or months at a time…If you rent out spare storage space on Neighbor, let’s say, it’s unlikely that person is going to want to move their stuff out in the next couple of weeks!
Ultimately, the sharing economy won’t be for everyone.
You need the right types of assets to rent out. You also need the willingness to deal with people and occasional headaches 😂
But personally, I’m a fan of monetizing assets you’re not using that often. Especially if it helps offset ownership costs or even turns a profit on your initial investment.
What do you think?
Is the sharing economy a viable side hustle? Or is this simply not worth the aggravation of dealing with renters? I’d love to know what you think 😎
Side Hustle Spotlight
💰 Earn Cashback On Gas, Groceries & Dining Experiences
I wanted to share a quick financial win you can add to your life…Especially if you’re doing a lot of driving around these days.
It’s a free rewards app called Upside.
Upside lets you earn cashback at thousands of gas stations. You basically look for cheap gas offers, claim them in the app, refuel, and then snap a photo of your receipt to earn cashback.
On average, you get around $0.10 per gallon or so. But you sometimes get boosted rates up to $0.25 per gallon.
Overall, making $10 to $20+ with this app for commuters is pretty realistic. You’d earn much more if you do gig work driving however or put a lot of miles on your vehicle.
Upside also lets you earn cashback on grocery, convenience store, and dining purchases. But I mostly use it for its gas cashback.
💰 As for getting paid…Upside lets you cash out via PayP, to your bank account, or with plenty of free gift card options.
You can try Upside for free to start earning a little bit extra each month.
😎 PRO TIP: Use the Upside code ‘TOMBLAKE' to get an extra $5 cash back bonus on your first gas, grocery, or restaurant purchase (minimum $10 purchase.)
💸Top Money-Making Offers & Tools
Bank of America® Travel Rewards Card: Right now, you can get a $250 bonus and ditch annual fees with this leading travel rewards card. PLUS you pay 0% APR into 2027 and earn cashback with every purchase.
Monarch: This is my budgeting app of choice. I just wanted to share it again since you can get 50% off right now, so it’s a great time to give it a spin!
Rakuten ($50 Bonus): If you’re not using Rakuten yet, you’re missing out! This website, app, and extension pays you with cashback at thousands of online retailers. You also get a $50 bonus when you complete a qualifying shopping offer of at least $50, which is pretty sweet.
"The dream is free, but the hustle is sold separately."
I’ve tested a lot of money making ideas over the years. And honesty, I can’t keep up with how many apps and companies keep popping up in this space.
If you do a bit of searching, you can find all sorts of opportunities to monetize assets you already have. Some might help cover your groceries or a couple extra expenses. But others can scale into some pretty impressive, semi-passive businesses.
Hopefully, this list inspires you to do a bit of research.
Happy hustling! And I’ll see you all again, very soon.
Catch you in the next one,
Tom from WiFi Wealth
😎 PS: Want more awesome newsletters sent your way? Here’s some awesome newsletters I’m reading these days that you can join for free.