I make an extra $925 a month by renting out parking spaces. It's the easiest source of passive income I've found.

• Nick and Shannan Copland built MTR Authority to help investors grow mid-term rental income.
• They also leverage platforms like Neighbor to earn passive income from unused parking spaces.
• Their real-estate strategy emphasizes financial freedom, family time, and scalable passive revenue.

This as-told-to essay is based on a conversation with Nick Copland, a 42-year-old real estate investor and the cofounder of MTR Authority, who lives outside Portland, Oregon. It has been edited for length and clarity.

I've always been an entrepreneur at heart. As a kid, I found creative ways to make money — mowing lawns, shoveling snow, stump grinding — anything that gave me the freedom to earn on my own terms.

Now, I run MTR Authority, a program that helps other investors build and scale mid-term rental operations, create systems for financial freedom, and uncover overlooked income streams, with my wife, Shannan.

One part of our business involves renting unused parking spaces, and it has become an excellent source of passive income.

I started my career bouncing around the corporate world

From 2010 to 2018, I held a variety of corporate leadership roles, where I learned the fundamentals of operations, project management, and process design. In 2019, Shannan and I started experimenting with short-term rentals on the side.

Over the next few years, that side project evolved into a real-estate business centered on mid-term rentals (MTRs) and rental arbitrage, the process of leasing a property in the name of your business, and within the rental agreement with the property owner, your business can then sublease the property.

Eventually, we were able to leave our W-2 jobs completely and focus on growing our real estate portfolio and coaching business. We've now surpassed our former combined W-2 income.

Our journey to real-estate investing started with glamping tents

I was working full-time, and Shannan was working part-time, as we had an infant and a toddler at home. We built and managed the glamping sites ourselves, from construction and décor to guest communication, learning hospitality the hard but rewarding way.

When a job relocation brought us to Oregon during the pandemic, we began house hacking, renting out the lower level of our home to traveling professionals. That's how we discovered the mid-term rental (MTR) niche — longer stays for nurses, consultants, and families between moves. We reinvested every profit, eventually growing to 13 properties across owned and rental-arbitrage units.

Once we reached that milestone, we began exploring other ways to maximize each property's earning potential. That's when we found Neighbor, a storage and parking marketplace.

We joined the platform in August 2021 and, by renting our unused driveways, garages, and side lots, we've generated nearly $30,000 in profit with almost no ongoing effort. Neighbor does take a small fee from each rental.

Our Neighbor listings typically earn around $925 a month, depending on the property and size of the space

We list spaces such as driveways, empty lots, and fenced yards on our properties that aren't in use. Once listed, renters book monthly, and we receive automatic payments — no showings, no maintenance, and minimal communication.

Renters use this service for long-term storage of their cars, boats, RVs, or trailers. Renters like the arrangement because of the proximity of the parking spaces to them, better pricing, and being able to work with a person directly instead of a company. Sometimes people choose us also because a traditional storage place might not allow them to park their type of vehicle.

Our complete portfolio brings in a consistent five-figure monthly income from midterm rentals, with Neighbor adding an extra layer of predictable, hands-off cash flow. Neighbor has become one of the most passive revenue streams we've found.

Our schedule looks nothing like the corporate grind we left behind

Most of our workweek centers on strategy and system building, not daily management. We dedicate a few hours a day to MTR Authority coaching and business development, while our property management systems handle most of our rental operations. This mix allows us to work 25 to 30 hours a week, leaving the rest for family time and travel.

Working with Shannan has been one of the best parts of this journey. We balance each other's strengths and handle operations together; I handle sales and finance, and Shannan handles marketing.

The key to making it work is communication and clear boundaries. We schedule "no work talk" time and treat our business meetings like any other professional commitment.

My advice to other couples is to set shared goals and define clear roles early. When you respect each other's strengths, the partnership becomes a real advantage.

What we've built isn't just about income — it's about freedom

Real estate and Neighbor gave us the ability to buy back our time and design a life around our family, not around a job. Our motto has become: Real wealth is quiet, it's the peace of knowing your time is your own.

We started small, stayed consistent, and treated every space — even empty spots — as a potential income stream. That mindset changed everything.