Creative ways to make income off of primary residence

[Kyle Anderson]

I'm just beginning to explore my options in real estate and I'm interested in identifying ways through which I can generate some (ideally passive) income using my primary residence. I'm currently renting an apartment in downtown Seattle but I'm trying to save/build credit to buy a home at some point in the future so advice regarding properties both owned and leased is welcome. One of the first things that came to mind for me was renting out private rooms (through subleasing, Airbnb, etc) to help reduce my monthly housing expenses. However, after doing some research, I began to stumble upon other interesting strategies -- for example, I came across a discussion in which somebody was renting out space in their home to a group of people that wanted to use the space for mining cryptocurrencies. This got me thinking about strategies I can use to maximize the income-generating capacity of the place I'm already living in, so I'd love to hear about any creative approaches other investors have had success with in the past!

[Aaron K.]

If you want to sublet, be prepared for an upset landlord when they find out, they will be even more upset if they pay for electricity and learn that you are mining crypto-currency large scale. Your options are very limited in an apartment that you rent if you want to stay within the terms of your lease and on the good side of your landlord. For a SFR rented or owned you have a lot more options, assuming you own it you could rent out rooms, you might also find some urban gardeners to turn your backyard into a farm, or you could do some dog sitting. Most things you can do won't involve the property directly other than renting out some form of space.