💸 Get in on this $38 billion dollar industry

GM. This is Work "After" Work. It's fall and as the temperature keeps dropping, we keep turning up the heat 👊

What we got for ya today:

• 🏠 Turning your extra space into $$

• 🤫 $500k student forgiveness loophole

Time to get goin: 2 daysEst. start-up cost: $0Potential return in 6 months: $900

TURN YOUR EXTRA SPACE INTO CASH

Have an extra driveway spot like this?

How about a corner of your garage you don't use? Maybe a half empty shed or crawlspace?

You can earn hundreds of dollars every month for renting out your empty space.

Here's an attic someone is renting out in Chicago for $63/mo.

Here's another for $325/mo for a 30 x 25 foot basement.

And you can do the same, earning passive income using a service called Neighbor.

Neighbor is like the Tinder for storage - it matches people looking for a place to store their stuff with others that have extra storage space.

How does it work?

Neighbor's business model is simple - homeowners list their extra spaces on the website, and people from their neighborhood rent those spaces.

Even from my favorite source, Reddit, we can see people are making real money off this 👀

And, much like Uber and Airbnb, Neighbor is a disruptive company that’s set to upset the $38 billion-dollar self-storage industry…

And I’ma show you how you can get a slice of this pie.

GET STARTED IN 3 EASY STEPS

1. Create a Neighbor host account

To become a host, go here. Or download the Neighbor app from the App store or Google Play store.

Fill out a short form with your name, email, and phone number… and you’re good to go.

2. List your space

When you listing a space to rent out, fill out a form detailing the size and type of your space and how much you want to be paid for it.

Your listing will then be reviewed and approved if it meets Neighbor’s criteria, like:

• Eligibility for subletting (if you're renting, you may not be allowed to sublet)

• Description matching your space

• Multiple clear photos of the space

3. Receive requests from renters

Once your listing is approved and published, renters will start reaching out to request your space by making a reservation.

When a potential renter makes a reservation, you’ll be notified by email and text, after which you'll have 24 hours to talk to a renter, screen them, and schedule a move-in time…or the request will automatically decline.

If you like ‘em and they’re not bringing their skeletons to your closet… give their stuff a home.

4. Get paid

Each month, Neighbor will collect and send you the rent, minus a processing fee of 4.9% + $0.30 per payout - cause everybody's gotta get paid.

So if you’re renting out your unused shed for, say, $100 per month, you’ll receive $94 ($100-$4.9-$0.30)

Connect your bank account with Stripe (Neighbor only uses Stripe) and wait for the rent to show up in your bank account.

You do have to wait 30 days though... I know so annoying!

THE GOOD AND THE UGLY OF NEIGHBOR

THE GOOD

• Guaranteed payout, even if the renter skips town

• Up to 1 million-dollar host liability protection

• You can set your own prices

• You’ll only deal with verified renters, plus you get to screen potential renters and inspect their stuff before approving their request

THE UGLY

• You must give the renter unrestricted access to the space during the hours stated in the contract

• You can’t just wake up one day and decide you don’t like your renter and kick them out… you must give them a 30-day notice

TIPS FROM YA BOY

• Stay safe - take all the necessary precautions to protect yourself and your property. Know who you’re dealing with, and do not share personal information

• Market your space - advertise your storage on social media

• Use the description field to stand out - take your time to take quality photos of your space and write a catchy description to impress your potential renter

• Respond quickly to renters’ requests - you only get 24 hrs

$500K STUDENT LOAN FORGIVENESS LOOPHOLE

This thread is bonkers but if you don't want to read it, I'll give ya the cliff notes: if you work for a non-profit or government agency, you're eligible to wipe out your student loans after 120 payments.

So if you've been out of school for 10 years and still have a decent amount of student loans, this could eliminate it all.

And last year 30,000 people took advantage of this loophole.

That's all I got for ya today folks!

DISCLAIMER: None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. Please be careful and do your own research.