I'm a very busy person, so any time I'm asked to do something that isn't strictly classified as "fun", I look at the time-value of the activity to see if it's worth my time - literally. I've found renting stuff out on Loanables to be one of the most profitable things I can do, given the amount of time it takes.
For example, I often rent out my Cash Flow board game, which is great for teaching people financial responsibility. It typically rents for at least 1 week, which fetches me $12. It takes about 5 minutes of my time each time someone rents it. $12 in 5 minutes equates to $144/hour.
Another popular item is my jon boat, which I rent to neighbors who just want to go fishing for a day or weekend and don't want to deal with the hassles of boat ownership. My boat rents for $30/day and most people keep it for 2 days, so that's $60. It takes about 30 minutes of my time each time I rent it, so that's $120/hour.
I find that most items that I rent fetch me around $120 - $180 for each hour of my time. That's not a bad hourly rate, and certainly worth a few minutes of time. Plus I get the added benefits of meeting some great neighbors and feeling good about helping them AND the environment.
Saturday, November 14, 2009
Saturday, March 28, 2009
Loanables ROI - Interview with a Loaner
Today we are interviewing Dominic D., a real Loaner who is enjoying the money he has earned by loaning out his stuff on Loanables and wants to share his experience with the rest of our community.
Q: Why did you decide to become a Loanables member?
I couldn't think of a good reason not to become a Loanables member. I could have stuff sitting around in my garage collecting dust, or have it make me money. It was a no-brainer!
Q: Have you Loaned, Borrowed, or Both?
So far I have only loaned. Every person I have dealt with so far has been courteous and easy to deal with.
Q: How has your experience been?
A++. People that need an item only once get to use it at a fraction of the cost and don't have to store it, and I get to recoup the money I have invested. It's a win-win.
Q: Think about your most popular Loanable -- the item that has rented out the most. Based on the income you've made from this item and the original cost of it, what has been the return on investment (ROI) for this item?
My most popular item has been loaned out several times, and has more than paid for itself. Like I said before, it could have just been collecting dust. Instead, it is earning me money.
Q: How does that return compare to your stock portfolio??
Much, much better -- and with no risk!
Q: Would you recommend Loanables to your friends?
100% yes!!
What items do you have that others might want to borrow? Take 10 minutes today to walk through your garage, closets, and attic and post some stuff on Loanables today! What will you do with all the cash you'll earn?
.
Q: Why did you decide to become a Loanables member?
I couldn't think of a good reason not to become a Loanables member. I could have stuff sitting around in my garage collecting dust, or have it make me money. It was a no-brainer!
Q: Have you Loaned, Borrowed, or Both?
So far I have only loaned. Every person I have dealt with so far has been courteous and easy to deal with.
Q: How has your experience been?
A++. People that need an item only once get to use it at a fraction of the cost and don't have to store it, and I get to recoup the money I have invested. It's a win-win.
Q: Think about your most popular Loanable -- the item that has rented out the most. Based on the income you've made from this item and the original cost of it, what has been the return on investment (ROI) for this item?
My most popular item has been loaned out several times, and has more than paid for itself. Like I said before, it could have just been collecting dust. Instead, it is earning me money.
Q: How does that return compare to your stock portfolio??
Much, much better -- and with no risk!
Q: Would you recommend Loanables to your friends?
100% yes!!
What items do you have that others might want to borrow? Take 10 minutes today to walk through your garage, closets, and attic and post some stuff on Loanables today! What will you do with all the cash you'll earn?
.
Saturday, October 18, 2008
Loanables are your best investment
As you watch your portfolio value drop like a rock, keep in mind that there are other investments besides stocks. For example, using Loanables is not only an investment in Mother Earth, but also a great financial investment. Let me explain, with two examples.
Making money by renting your stuff out
Last weekend, I rented out my live animal trap to a neighbor who needs to get rid of a skunk (please hold all political jokes!) This is the sixth time I have rented it out in the past year, and it has earned me a total of $80. I purchased it for about $40 originally (could have gotten it cheaper if I'd purchased off eBay or CraigsLIst.) So let's do the math:
$80 rental fee - $40 cost to purchase = $40 profit
$40 / $40 = 100% return
That's right, I've DOUBLED my money and gotten a 100% return on my original investment with this animal trap. How many stocks do you have that have returned 100% in 1 year??
Saving money by borrowing from others
Let's look at this same transaction from the perspective of the guy who rented the trap from me. He called the pest control company and they wanted $140 to come out and get rid of his skunk. Instead of $140, he's only paying me $10 for renting the trap. Loanables saved him $130. Who wouldn't want an extra $130 in their pocket?
I hear stories like this all the time of people who have earned back the original purchase price of their stuff, and made a healthy profit, by loaning it to their neighbors on Loanables. And remember, Loanables doesn't charge you any fees whatsoever. What great stuff do you have that you could be adding to your investment portfolio in this economy?
Making money by renting your stuff out
Last weekend, I rented out my live animal trap to a neighbor who needs to get rid of a skunk (please hold all political jokes!) This is the sixth time I have rented it out in the past year, and it has earned me a total of $80. I purchased it for about $40 originally (could have gotten it cheaper if I'd purchased off eBay or CraigsLIst.) So let's do the math:
$80 rental fee - $40 cost to purchase = $40 profit
$40 / $40 = 100% return
That's right, I've DOUBLED my money and gotten a 100% return on my original investment with this animal trap. How many stocks do you have that have returned 100% in 1 year??
Saving money by borrowing from others
Let's look at this same transaction from the perspective of the guy who rented the trap from me. He called the pest control company and they wanted $140 to come out and get rid of his skunk. Instead of $140, he's only paying me $10 for renting the trap. Loanables saved him $130. Who wouldn't want an extra $130 in their pocket?
I hear stories like this all the time of people who have earned back the original purchase price of their stuff, and made a healthy profit, by loaning it to their neighbors on Loanables. And remember, Loanables doesn't charge you any fees whatsoever. What great stuff do you have that you could be adding to your investment portfolio in this economy?
Friday, July 4, 2008
Austin EcoSchool is now enrolling
We are long overdue for an update. Lots of exciting things happening at Loanables, including our coverage on KXAN and CNN (more on this later). I wanted to take a moment to pass along an announcement from Austin EcoSchool -- see below.
---------------------------------------------------------------------
What would a school look like if it were comprised of an old stone house, reclaimed furniture and school supplies, and trash for art supplies? Come to EcoSchool to find out. For two years we've been growing organic veggies, composting our lunch scraps, caring for the creek, and cleaning our building with vinegar. Our kids show up in used clothing, so they can play, create, and get downright dirty without worry. They've come up with hundreds of uses for the bamboo that grows in the yard, and they've given every oak a pet name. We pack our lunches as sustainably as possible, with real linens and dishes, not disposable stuff. This year our kids reached out to help men, women, children, and animals without homes. You need to meet this dynamic group of children;
they're expressive, compassionate, hardworking. Their hearts hold hope and their minds seek wisdom.
Austin EcoSchool is holding Summer Informational Orientation Nights:
Tuesday, July 1st, 6pm
Sunday, July 13th, 6pm
Thursday, July 31st, 6pm
The beautiful EcoSchool campus is located at 3000 Del Curto, Austin
TX 78704
Please join us to meet the community and discover if our school is right for your child. Austin EcoSchool is a 3-4 day/week school providing a bridge between homeschooling and full-time private education. Academic instruction is woven into a thematic and creative curriculum designed to make learning natural, relevant, and lasting. EcoSchool is a fun and loving place where every child is accepted and respected in their journey of self-discovery.
austinecoschool.org
(512) 447-8516
Please direct inquiries to kshoberg@gmail.com.
Now enrolling children ages 5 – 11 for Fall 2008!
Monday, March 10, 2008
The Story of Stuff -- you have to watch this
If you haven't seen it yet, you have to check out The Story of Stuff. It's about 20 minutes long, but fun to watch and very well done. This should be mandatory viewing for all students. It shows just how harmful our over-consuming habits are to the environment and the global community.
(comments were removed during migration to Blogger)
Saturday, February 23, 2008
Eliminate unwanted catalogs with Catalog Choice
Every now and then you run across an idea that is so brilliant, you hope the inventors win a Nobel prize. These are usually things that are:
1) very simple
2) very useful
While we hope that Loanables matches these criteria, I am actually writing about Catalog Choice, a service that I discovered a couple of months ago. This free service allows you to register catalogs that you no longer wish to receive. Catalog Choice will contact the merchants and inform them of your desire to not receive their catalogs. The site reports that in 2005, over 19 billion catalogs were sent out to U.S. consumers! Think about the enormous resources involved in creating, printing, and distributing those catalogs!
Personally, I don't need catalogs anymore -- I use the internet for all at-home shopping. And yet dozens of companies insist on shoving their catalogs into my face each week. I used to call them up and unsubscribe, but somehow I get back on their lists (without even buying anything or opting in.) While Catalog Choice hasn't eliminated all of my mailings, I've definitely noticed some reduction. And they make it easy to report companies who continue to send catalogs even after you have unsubscribed.
In addition to the environmental impact, I have another reason for not wanting all of those catalogs. We have one of those community mailbox stations, where our box is only about 6" by 6" large. It only takes a few catalogs to fill that up, and then your important mail has to be stored at the post office for pickup. What a pain!
You can see a list of all merchants who have begun taking data feeds from Catalog Choice here: http://www.catalogchoice.org/pages/merchants. I certainly hope others will follow their lead and end the wastefulness of unwanted catalogs. Go check out Catalog Choice and see how easy it is to use. And tell your friends!
1) very simple
2) very useful
While we hope that Loanables matches these criteria, I am actually writing about Catalog Choice, a service that I discovered a couple of months ago. This free service allows you to register catalogs that you no longer wish to receive. Catalog Choice will contact the merchants and inform them of your desire to not receive their catalogs. The site reports that in 2005, over 19 billion catalogs were sent out to U.S. consumers! Think about the enormous resources involved in creating, printing, and distributing those catalogs!
Personally, I don't need catalogs anymore -- I use the internet for all at-home shopping. And yet dozens of companies insist on shoving their catalogs into my face each week. I used to call them up and unsubscribe, but somehow I get back on their lists (without even buying anything or opting in.) While Catalog Choice hasn't eliminated all of my mailings, I've definitely noticed some reduction. And they make it easy to report companies who continue to send catalogs even after you have unsubscribed.
In addition to the environmental impact, I have another reason for not wanting all of those catalogs. We have one of those community mailbox stations, where our box is only about 6" by 6" large. It only takes a few catalogs to fill that up, and then your important mail has to be stored at the post office for pickup. What a pain!
You can see a list of all merchants who have begun taking data feeds from Catalog Choice here: http://www.catalogchoice.org/pages/merchants. I certainly hope others will follow their lead and end the wastefulness of unwanted catalogs. Go check out Catalog Choice and see how easy it is to use. And tell your friends!
Tuesday, January 1, 2008
Top 10 ways to live a more sustainable life
Ok everyone, it's time for New Year's resolutions! Here is a suggestion -- try to live a more sustainable life by reducing the amount of CO2 produced by your lifestyle. Not sure how to do it? Well, the great folks over at YouSustain can help you out! Start by reading their great article on the Top 10 Easiest Ways To Become More Sustainable For 2008. Then, check out their Sustainability Challenges (there's even one for Borrowing durable goods instead of Buying.)
The thing I love about this site is that it goes beyond just offering suggestions by helping you measure the impact of a more sustainable live -- both environmentally and economically. It is great to see both the CO2 reduction and the monetary savings that result from even the smallest changes in our daily lifestyle. I'm participating in a couple of challenges, and plan to incorporate more of them over time. What will you do to live a more sustainable life in 2008?
(comments were removed during migration to Blogger)
The thing I love about this site is that it goes beyond just offering suggestions by helping you measure the impact of a more sustainable live -- both environmentally and economically. It is great to see both the CO2 reduction and the monetary savings that result from even the smallest changes in our daily lifestyle. I'm participating in a couple of challenges, and plan to incorporate more of them over time. What will you do to live a more sustainable life in 2008?
(comments were removed during migration to Blogger)
Subscribe to:
Posts (Atom)
Posts
