27. Rent Out Your Parking Space

27. Rent Out Your Parking Space

This is a tip that probably only applies to people who live in big cities, but if you do, and you're not already making use of it, read on. There's serious money to be made here. Increasingly, city dwellers don't drive anywhere. The roads are too congested, and it's easier to walk, take a bike, or use public transport. That means they don't have a car, and the car parking space that came with their property is going unused.

If you live in an urban area where parking is expensive and hard to find, you have a license to print money. There are a number of websites you can advertise your parking space to, some of which might even be local to you and specialized. You could be exactly what a wealthy but frustrated commuter has been looking for. Depending on your area, your space could be worth hundreds of dollars a month.

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Did You Know...

I

When we think of inventors, the image that comes to mind is usually that of a frazzled scientist toiling away in a lab, not celebrities pulled from the pages of Us Weekly. However, a number of well-known public figures hold patents for various innovations. Some are related to the work that made them famous, while others are offshoots of hobbies or just a single great idea.

II

Part of guitar wizard Eddie Van Halen's signature sound was his two-handed tapping technique, but letting all ten fingers fly while simultaneously holding up the guitar's neck could get a bit tricky. Van Halen came up with a novel way to get around this problem, though; he invented a support (top) that could flip out of the back of his axe's body to raise and stabilize the fretboard so he could tap out searing songs like "Eruption." While Van Halen was obviously interested in improving his guitar work, the patent application he filed in 1985 notes that the device would work with any stringed instrument. Want to tap out a scorching mandolin solo? Find someone selling Eddie's device.

III

It’s probably not surprising that James Cameron—who designed a submersible to take him to the deepest known part of the ocean—will often invent technology to make his films if what he needs doesn’t exist. He holds a number of patents, including US Patent No. 4996938, “apparatus for propelling a user in an underwater environment,” that he and his brother, Michael, created to film The Abyss and patented in 1989. The device is basically an underwater dolly equipped with propellers that makes it easy for a camera operator to maneuver in the water—and allowed Cameron to capture the shots he wanted for the 1989 film, part of which was filmed in an abandoned nuclear reactor.

IV

In 1987 Jamie Lee Curtis designed and patented a disposable diaper that included a waterproof pocket that held baby wipes. She hasn't profited from her idea yet, though, since she refuses to license the patent until diaper companies make biodegradable products.

V

You know him as a rock legend, but Neil Young also loves trains—so much that he owns a stake in a model train manufacturing company and has an extensive collection. He also holds seven patents related to model trains, including Patent No. US5441223, "Model train controller using electromagnetic field between track and ground."

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