Sell Autographs or Rent Out a Room to Generate Extra Income

Many people work full-time jobs and even put in overtime at a job only to find that they still have challenges making ends meet. If the combination of inflation and a growing family eats into the money we are able to earn, we can discover that we need to locate new ways to generate income.

In many cases we need to find things that can bring in consistent income over time and in other cases we need to find things that can bring in one time income so that we can get caught up on our finances. For both situations there are great options. Here are a few:

Sell autographs

If you choose to sell autographs you can actually make quite a significant amount of income. Many people collect autographs from sports stars, entertainers, politicians, and other celebrities or famous people. These autographs are usually on t-shirts and other clothing, sports or musical equipment, memorabilia and even handkerchiefs.

People normally acquire these autographs because they really love the person from whom they are getting it. Their aim in collecting them is to be able to show their friends and to feel great about getting something to memorialize the time they met the famous person. Others collect autographs with the intention of selling them someday for-profit. Many famous people have autographs that are very valuable, particularly those from famous people that do not provide their signature often.

If you happen to own autographs of famous people, one great way generate additional income for yourself is to sell these autographs for cash. There are online companies like Pieceofthepast.com who you can contract to sell your entertainment autographs and memorabilia. The company is currently the largest online autograph seller and works with hundreds of individuals who own valuable signatures. Selling your autographs can be fast and provide you with quick capital.

Rent out a room in your home

Many of us have extra rooms in our homes that sit empty. Perhaps a son or daughter has gone away to college or the room used to be occupied by extended family who would often come by, but currently it has sat empty for quite some time. This creates a great opportunity for you to generate additional income. There are certain things you have to do however to ensure that you do things legally and safely.

First go on the internet and locate all the laws relating to taking in a tenant in your home. Make sure that you understand everything you need to know about contracts that need to be signed and the laws around being a landlord. When you start interviewing potential tenants, make sure to do background checks and that the person has a steady job and is responsible.

Next check in your neighborhood to see what rents are going for and make sure that you can pay the extra bills that this person might cause including water and electricity, and still make a good profit. If this is the case then you should start interviewing potential tenants.

Before interviewing anyone, have each prospective tenant fill in a questionnaire that gives you information about the person. Where does a person work and for how long? Where did the person live before and why is the person now looking for a new place to live?  If you get satisfactory answers to these questions then you can interview the person.

The interview should be conducted in a very formal way and you should feel comfortable enough to answer any questions you need to fully understand who this person is. Finally if you have any concerns about feeling safe around the person, then this is the wrong person for you. If you do locate the right tenant this is a great way to generate passive income.

These two ideas are great for generating additional income that can help you make ends meet or get you out of a financial tight spot.