... dedicated to the pursuit of making money!

 

The Beauty of Community Living

February 04, 2007

The Internet is filled with sites claiming that they can help you "get rich quick" or "become a millionaire", but the truth is that most of these sites are getting rich off of your curiosity into how to get rich. These alleged milliners are usually only interested in making themselves richer and aren't willing to tell you how it is that they got rich without charging you a fee or selling you some sort of "wealth package". Like most things, I have found that there is no easy recipe for getting rich. It takes dedication and hard work, to make money. After all, that is what gives money its value..right? Also, there usually isn't one single idea or project that a person can do to get rich. It is usually the combination of few different projects and investments that cumulatively results in substantial sums of money.

Today I would like to share an idea with you (for FREE) that requires no initial investment and can put an extra $500 - $1000 in your pocket every month. Now this isn't going to skyrocket you into millionaire status overnight, but it is certainly going to help your bank account move in the right direction. The idea is simple: rent out an extra bedroom in your home. Many of us own a home or rent a home where we have at least one extra bedroom. Why not get rid of that extra junk in the spare bedroom and rent it out?

Here's how it works:

1) Place an ad on some free site like (ie. cragislist) advertising your room for rent.

2) Sort through the applicants choosing one that possesses the traits that you think would make he/she a good roommate. (ie. shares your views on cleanliness, privacy, etc.)

3) Interview the potential roommate in person and if things go well have them sign a rental agreement (examples of these can be found all over the net).

4) The new tenant moves in and turns your extra room into cash in your pocket.

Now this is certainly not a trivial process, but it is not that difficult either. Here are some general rules of thumb so follow when renting out a room.

1) Don't choose a person moving from one side of your town to the other. This usually means that they are trying to escape someone or something and is generally not a good sign.

2) It is best to choose somebody new to the area. This way They don't have old drama lurking around. In addition you can introduce them to people and show them around.

3) Make sure you are very clear in your rental agreement as to what you expect of your roommate. This way they are no misunderstandings and you two can start off on the same page.

This is pretty much it. The first time you run through this process will most likely be the most difficult, so just be patient and thorough and you'll be just fine. Just remember that each time gets a little bit easier. One thing I'd like to point before concluding this article is that community living can have additional advantages besides making extra money. It can as lo be a personal growth experience. It turns out you can learn a lot about yourself by living with others. You can also create long lasting friendships and learn more about people and cultures than you'd ever imagined. In the end it is really a win-win situation. You are making a little extra money in exchange for helping somebody find a decent low cost living solution.

 

 

What the future has in store

You can expect this site to change fairly regularly (probably a least once per week). I will be using it mostly as a way to centrally house my ideas and as a way to test new and/or exciting projects that I happen to be working on. If you'd like to see something on this site or have any sort of feedback please feel free to contact me.