Oregon Man Turns Parking Spaces Into $30,000 Side Hustle
A resourceful Oregon man has demonstrated how a simple parking space side hustle can generate substantial extra income, revealing earnings of $30,000 from renting out unused spots on his property.
Nick Copland, a 43-year-old real estate investor from Oregon, discovered the opportunity during the COVID-19 lockdown when he saw a social media advertisement for an application that facilitates renting spare parking areas. Recognising his potential as a property owner with multiple holdings, he signed up in August 2021 and has since accumulated tens of thousands in additional revenue.
How the Parking Space Business Works
Copland currently manages nine different parking spot listings, generating approximately $1,000 per month from this venture alone. He emphasises that this model is accessible to virtually anyone with available space.
"We designate portions of our land into parking places and charge different amounts based on the spot size," Copland explained in an exclusive discussion. "My spots range from $90 to $150 per month. But the user pays a bit more than that for insurance and payment processing fees."
This service is not designed for hourly parking but rather for long-term storage of vehicles, including cars, recreational vehicles (RVs), or trailers. Copland highlighted a common scenario: "For example, a family who has an RV but they don't have space to park it at their home so they need to park it somewhere else when it is not in use."
He pointed out that traditional storage facilities can be expensive and restrictive, whereas his approach offers a more flexible alternative: "Our spaces are in good neighborhoods and safe for our clients. It is a win-win. Our extra land/space is getting used to help people with a more convenient long term parking solution."
The Technology Behind the Success
Copland utilises an application called Neighbor, which connects property owners with clients seeking parking solutions. He praised the platform's simplicity: "Anyone can do it. Neighbor handles all the tricky stuff. You just create an account and make your listing - and you can easily make a listing in just a few minutes."
This parking space venture represents just one aspect of Copland's broader real estate investment strategy. His journey into property rental began in 2019 when he and his wife Shannan invested in a 'glamping site' to operate as an Airbnb, inspired by unique accommodations they experienced during their tenth anniversary trip.
Expanding Into Mid-Term Rentals
After relocating from California to Oregon during the pandemic, the couple began renting the lower level of their home to traveling professionals seeking longer stays, known as mid-term rentals.
"We already had experience with short-term rentals through our glamping tents in the Santa Cruz Mountains and liked the idea of having guests stay for longer periods of time - less turn-over, less hassle, but a much better ROI than long-term rentals," Copland explained.
The financial impact was immediate and significant: "Our first mid-term rental covered more than the mortgage and all the while we were living in the upper level. We lived for free. Our mortgage was around $2,200 and the smallest amount we typically made was $3,000 a month. That changed things significantly for us."
Building a Real Estate Empire
The additional income allowed them to save for another property purchase, beginning a cycle of expansion. Copland and his wife eventually left their traditional employment to focus entirely on real estate investing. They now own 13 properties and operate MTR Authority, a company dedicated to helping others achieve similar success through property rental.
"I have been coaching investors for over five years now. If you are driven and committed to getting systems in place, you can do this too," Copland stated.
The couple's combined rental income now reaches approximately $39,000 per month, providing financial independence: "And we don't need our W2 jobs anymore and have the freedom to choose how we want to use our time. That's priceless."
Copland's story illustrates how innovative use of available space, combined with modern technology platforms, can create substantial passive income streams, transforming ordinary assets into lucrative revenue generators.
