If you just have a shed you can rent it out for storage purposes. My friend converted her husbands 20×20 shed into a mini house. It already had a concrete floor, walls, roof, and power. It cost about $10,000.00 to get it to a living standard with shower, toilet, kitchen, lined walls, floor coverings, etc… Now it is rented for $200 a week. After the first year the renovation money has been made and the rest is profit! I like this way the best because I am not very good at putting up with people.
Another way to make money is if you live in a high tourist area, rent your house out in tourist season. For example a person had a house on PhillipIsland and they rented their house to the French team for the Grand Pri for $1000 a week.
There are plenty of other ways to make money by renting a room out in your house. These are just a few ideas.