Real Estate Investor Leverages Unique Income Streams for Financial Freedom
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.
Nick Copland, an entrepreneur from an early age, has always sought out innovative ways to generate income. From childhood ventures like mowing lawns and stump grinding, he has now evolved to co-running MTR Authority with his wife, Shannan. The program is dedicated to helping investors scale mid-term rental operations and discover new income streams.
Transitioning from Corporate Roles to Real Estate
Between 2010 and 2018, Copland held various corporate leadership positions, gaining key skills in operations and project management. By 2019, he and Shannan had ventured into short-term rentals as a side project, which gradually transformed into a full-fledged real estate business focused on mid-term rentals and rental arbitrage.
Leaving behind their traditional jobs, the Coplands focused solely on expanding their real estate portfolio, surpassing their previous combined incomes through strategic investments and coaching services.
Discovering the Mid-Term Rental Market
The couple’s foray into real estate began with managing glamping sites, a venture they handled independently, learning the ropes of hospitality along the way. A relocation to Oregon due to a job opportunity led them to explore house hacking, initially renting out parts of their home to traveling professionals. This experience introduced them to the mid-term rental (MTR) niche, catering to individuals like nurses and consultants needing longer stays.
With profits reinvested, their operation expanded to include 13 properties through ownership and rental arbitrage. Searching for ways to further enhance income, they discovered Neighbor, a marketplace for storage and parking, which became a new revenue avenue.
Passive Income through Neighbor
Since joining Neighbor in August 2021, the Coplands have capitalized on renting unused spaces like driveways and garages, earning nearly $30,000 with minimal effort. The platform allows them to earn around $925 monthly per listing, supplementing their income from mid-term rentals. Renters, attracted by the convenience and competitive pricing, use these spaces for long-term storage of vehicles and other items.
Balancing Business and Family Life
Nick and Shannan have crafted a work-life balance that contrasts sharply with the corporate grind they left. Their workweek focuses on strategic planning and business development, with property management systems handling daily operations. This setup allows them to work 25 to 30 hours weekly, dedicating the rest of their time to family and travel.
The couple emphasizes the importance of communication and defined roles in their partnership, with Nick overseeing sales and finance while Shannan manages marketing. They maintain “no work talk” times to ensure personal time remains undisturbed.
A Lifestyle Centered on Freedom
For the Coplands, their real estate ventures and the use of Neighbor represent more than just financial success; they symbolize the freedom to design their lives around personal priorities rather than work obligations. Their guiding principle is that true wealth lies in controlling one’s own time.
By consistently pursuing new opportunities and viewing every available space as a potential income source, the Coplands have created a sustainable and fulfilling lifestyle.
