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  1. #1
    humvee13 is offline Junior Member
    Join Date
    Aug 2007
    Location
    Long Island, NY
    Posts
    1

    Using my property for supplemental income, ideas?

    Long time watcher first time poster, I enjoy reading everyones ideas and successes and hoping you all can give me some creative ideas for my proposal.

    I currently work full time and go to school full time and haven't had time to persue my entrepreneur goals yet but I find my self in a situation where I need extra income to cover expenses I will soon incur.

    Here lies the situation:
    Mother and Brother moved to Florida and left me with the house in Long Island, housing market is tanking here so it hasnt sold leaving me with a place to stay in the meantime but now my mother needs some money to cover the mortgage and I need some ideas on how to use the property to make money without anyone actully living here. The house must remain a 1 family, it used to be 3 family but was illegal. Some friends are going to move in with me and together we will rent the house.

    Now for some ideas, The house sits on a decent piece of land and has a detached 2 car garage with 2nd floor storage, all electric and finished. At one time we rented out 1 side to someone who stored a classic car, and the top level to someone who stored pool tables. These ideas are great but didnt make alot of money, between both was an extra $200 or so a month.

    How can I make more renting out the garage without anyone living there, someone on another forum recommended an art studio / band practice room on the 2nd level, another recommended charging a hire rate for storing a car in the garage but allowing work, since most garage renters dont allow people to work on cars there. There is no heating or bathroom in the garage since it is not allowed, so anything where someone might spend hours in wont be comfortable in the winter.

    Am I left with just renting it for storage again? I have a truck and trailer and might be able to provide some type of temporary hauling and storge service and store many different items there rather than just 1 person renting it.

    It can also hold at least 9 motorcycles on the first level there, do people store them for the winter?

    Any ideas you guys have would be great, I am not looking to make a killing off this but I am hoping to offset some living expenses

  2. #2
    CycloneArts's Avatar
    CycloneArts is offline Junior Member
    Join Date
    Mar 2007
    Posts
    29
    If by some chance you happen to be an artist or know a few local artists you can run an art gallery and charge them for gallery space or get a percentage of their earnings.

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