Just something to consider (I'm a Turo host myself)... he purchased all these cars on personal credit. There are two major things that could happen that could be very very bad for him, and i've read about them after doing tons of research on personal vs commercial financing for Turo cars. 1)someone sues you after an accident. Yes, you have Turo's Liberty Mutual protection plans, but that does not protect you from a personal injury or death lawsuit. So if you get sued, they're coming after YOU... your house, your income and in this case, your 33 cars. These personal injury attorneys are relentless and can sue for millions. 2)something happens with Turo. This could be that the business starts to slow down, could be a botched IPO, a failed merger or acquisition, whatever it may be - something to cause problems with the platform that would greatly reduce reservations. If you don't have enough cash on hand to make the payments on all your cars, the banks are coming after YOU. To avoid all this, you really should have your fleet protected inside an LLC. The cars should be financed through the business name, owned by the business, insured by the business. This way, if something happens, nobody can come for your personal assets like your home, your income, your personal vehicles. It takes some time to build up business credit, but the small fee to file for an LLC could literally save you millions. If you want a large fleet, it's really the only way you should do it: through your LLC (or corp if that's what you like). I feel buying 33 cars on personal credit is a huge mistake.
Good info, how/ where do you get your cars from? Thanks
3 года назад
We’re renting a guest house at the back of the main house. We applied for rental assistance last time it was available in LA. They prioritized apartment address than residential. They never replied at all with our application. My wife & I lost both our jobs and score went bad, I paid Lexington Law to help me fix my credit for months and they did not fix anything except my attitude about how "good" they are. I canceled them once I saw nothing happening Ty i have been using *850 credit restoration* since few weeks, great way to build. I LOVE IT
I started working on my credit 2 years ago. I didn't know where to start I had no credit. I started looking up videos and found *850credit restoration* . I followed what you said and started with an secured credit card for 200.00 and mad sure to keep my utilization under 10% and paid on time every month. I now have 3 unsecured credit cards and a 757 fico score. Thank Danielle for all the information and tips. Now we are in a position to buy home.
Followed Joshua & got out of debt, built an emergency fund and then more savings and eventually starting my own business. Now it’s time to seriously invest! Time waits for no one! I swear it feels like I graduated HS yesterday 😂 (28 years old) lol but I have more than enough time! I was in the dumps via credit, owed $44k in card debts and 97k in student loans and really couldn’t afford anymore Tried Lexington law a while back and that was just a mistake My cousin referred me to discreet phase resolution I’m intrigued by their honesty and service
I drove my first car in my dad's name and later went to get a truck in mine after I paid off my first one and drove off the lot with the truck I wanted, its mostly about a good credit score and a loan portfolio helps as well...lenders like to see various forms of loans in your name to be less of a risk and yes you might have to put money down but not HALF of the car loan Your exactly right I screwed my credit as a young man now I own a detailing company and can't get anything with out the full amount of cash. I'm working on my credit to get better with *850 CREDIT RESTORATION* , Love the knowledge keep it up
I dunno… I was one of those people that didn’t care about a credit score, didn’t get any education about how important your credit score is, and I racked up debt like an idiot. I worked really hard and educated myself and I’ve brought my credit score from 480 to 690 and I’m still going up with *850CREDIT RESTORATION* . I feel like the government blaming credit reporting companies instead of the lack of financial education in their own public education system is foolish.
At 34 years old I finally feel ready to settle down long enough to buy a house. Unfortunately due to previous horrible stupid life decisions, I'm forced to start with a zero balance in my savings account. On the bright side, the huge amount of debt - consequence of those bad decisions will be payed off next month! 🥳 It's never too late to start saving like there's no tomorrow, and I'm really REALLY excited and motivated. Oh and Graham, fyi my emergency fund is also a done deal! by *850 Credit Restoration* team lol, i didn't made it myself
Yea Navy federal gave me a really high limit. I applied and was denied at first so I got a *850credit restoration* service , and I was approved for a capital one. The limit was so small lol but I took it and worked on it. Because if that it helped my credit and I believe that’s what made me finally get approved for navy fed with such a high limit. they're still working on increasing the capital one since it was so low. All in all I’m satisfied.
I stumbled across your video and instantly knew this was made for me. I'm going through the same thing with my business but just knowing that I'm not the only one who's experienced this just pushes me to go harder. Continue to put out informational content and sharing your story, THAT is what separates you from the rest. Much gratitude Marvin and *850 Credit Restoration* was so helpful during the process of boosting my credit
When trying to get late payments removed on an active account, if it cannot be verified by the bureaus, do they remove that late payment and show on time payment for that month, show no information available for that month, or delete that account off the credit report? I want to get my late payment history corrected but not sure how disputing with the credit bureaus affects the active account if they cannot verify the information to be accurate, I wouldn't have been able to take them off if not me meeting *850 Credit Restoration*
The best thing in the whole video was Matty J's grounding in God and his statement "I got reminded...what's God's will in this?...everything that I do in my life is a setup by God for a win...whether this is an L or not, it is a setup for the Win"
Interesting. There goes my dream of seeing 3 out of every 5 churches in the hood being turned into an entrepreneurial training center/workspace for the soon to be disenfranchised youth.
I just found this channel, as a Latino I gotta say this content is amazing! It’s a great thing to see all these young, black, innovative entrepreneurs!
I don’t consume a lot of content online .. I usually post and log off .. but it’s been a while since I came across a RU-vid channel I truly enjoy ... this whole conversation was funny, entertaining, and insightful... keep it going ! 🙌🏾💙
@@RealSocialProof I saw a cat doing this in Aurora Colorado. He had a lot of cars, used Turo parked them on the street etc. He was pretty much functioning like you said. I learned later he had a Tesla and a high-end Infiniti SUV parked in some garages also at the apartment. What do you advise for a market when it doesn't look like people are using Turo where you are, like say Nebraska?
Hello, my name is Tony in Louisville, Ky. I'm the top Turo host in my city, I have over 1,200 trips, I currently have 17 cars fleet and make over $300,000 a year, I'm trying to get on the show and do an interview!
It’s people like this that make the world a better place. A lot of people don’t like to spit game to others they become greedy and let the money and power control them but this man right here is blessing people and being blessed. Love the fact that these men are men of faith and are doing positive for the community
Yo. No cap, on my way to TX from FL (16hr drive) I was binging this channel. I listened to this podcast twice! *IMPORTANT SIDE NOTE* I made a decision on that road... I got home at 1 am Monday morning woke up and went to the bank for a loan got denied. Hit capital one denied, hit Carmax DENIED. I seen this whip that would kill it on Turo and had nothing to loose it was a newer car with low miles but not worth much. Put 2k down and they approved it, listed on Turo right away got booked for 7 days, the next day it got booked for the rest of the month. Just wanted to let you know y'all the goat. All your listeners have to do is ACT. Thats it. Just do the thing! #LOVE
What I noticed is that so many people live in a box and don’t even realize it. They love being comfortable and anything outside of that is insane and ludicrous until they realize how much money some of these people are making.
I have never commented on anything but I gotta give it to Matty! He DEFINITELY kept me engaged in this video with the stories. Keep up the good work brotha!
I love this, transparent to the max. No fluff, No boasting, and straight teaching. You’ll are blessed because you two are God-fearing brothers. God will continue to bless you because the purpose of us living on this earth is too bless others. Thank you so much. I’m getting started 💪🏽🙌🏾
THIS IS ABSOLUTELY THE BEST TESTIMONY IVE HEARD IN A LONG TIME!!!! GOD IS SOOO AMAZING! GODS WILL BE DONE!!! NOBODY BUT GOD! Look at GOD! I promise you! This Is Absolutely Your BEST INTERVIEW! I pray sooo many PEOPLE See this interview and See the Power Of Doing The WILL OF God! I’m sharing this Video 🙏🏾❤️🙏🏾❤️🙏🏾
First of all, great interview. I was literally stuck to my laptop screen the whole time. Lol. This just got me so much more motivated to jumpstart my business. Plus the fact that I'm in Atlanta too, and I can truly see how many young black professionals are really out here securing the bag for themselves. And having fun doing it! My job has always kept me comfortable, but it takes up so much of my freedom that it's exhausting. So thank you so much for this! This video popped up on my feed right on time.
Exactly. I love content like this. I try to get my friends hip to this way of thinking, but all they care about is drinking and smoking. Yeah time to cut some people off
It’s important to clarify that the types of returns he’s referring to are in major cities like Atlanta. While luxury cars are always in demand, regardless of location, you’re going to have a more healthy stream of consistency in cities like that over a smaller market.
You need money to make money. You gotta save your first 10k, plus have a emergency savings before you can start taking risks. Anything under that is a waste of time imo.
@@RealSocialProof How is he currently doing with his fleet, a good friend of mine two vehicles out here in the NY area, im soon to follow suit. BX STAND UP!!!
This is the absolute best podcast/RU-vid video I’ve ever seen in my life PERIODT. I’m soooo happy I spent the entire 1:30 watching this... it’s been something I’ve been thinking about but this was confirmation PERIODT!!!
BY FAR THE BEST CHANNEL ON RU-vid!! Every episode gets me fired up. Im ready to get a mobile home, a few luxury cars, and a catering company all in one day lol #blackexcellence💪🏿🖤
That's awesome. I've been on Turo for 2 years and have scaled to 7 vehicles. My economy cars do the best now. I have 2 Fiat 500s and probably going to get a 3rd!
Fell asleep and woke up listening to this episode. Watched the whole thing. This is amazing man. I thought I was hustling, this guy has me beat now I’m taking notes 🔥🔥🔥
I’m getting into this now. I made a terrible mistake and now I’m in the position of two car notes. I was doing research and praying and ran across another girls video on Turo. I’ve uploaded one vehicle and within a week I got two bookings. I feel like I just tripped into a blessing. I’ve done the math and the math is “mathing”. Things truly work together for the good. I also do Airbnb. This is my year of financial freedom. My question is though a lot of people teach to buy your cars with cash. Which way is better. I have a two year plan to buy two more cars for Turo.
I found myself in a familiar situation when I realized I hadn't fully thought through taking on my second car loan. However, after listing it on Turo, I quickly received three bookings. While these are short-term leases, it's given me hope for what this journey holds. As the Apostle Paul teaches, finding joy in hardships helps us develop character and wisdom, making it a valuable learning experience regardless.
OMG FINALLY PERSON who tells you the actual step by step on how to make the bread....not stingy.. brutha!!!! Thank u for the love...def hittin the link...have to change my life...no more corporate "slavin"
Love you guys. God bless you guys for what your are doing for this generation. I am sure you don't know the extent of you influence and impact. May God expand you in wisdom, in wealth and everything. Thanks and thanks for your openness.
My mom was playing this in the car todaqy and I was listening the ENTIRE time, and when we got home, I wanted to keep listening to it, so she texted me the link and where I left off, and now I'm here on my computer! 😊 (I am 12 if you care)
He should have done it in a division of a corporation. That way, disconnect the division, incorporate it, then file bankruptcy if things go south and never have to file personal bankruptcy if he does it right. Not filing personal bankruptcy means he can start all over again with a new corporation the next day completely legal and legit. Look up the Godfather of Credit here on RU-vid. If you see 2 different guys click on the white guy, he's been doing it since he was 11 years old and now he's almost 50.
He had a good response to "why not a regular rental car from hertz or uber/lyft?" 1 lack of convenience due to tardy rideshare driver. 2 regular long-term rental car contracts are expensive. 3 far fewer car options and when you book a car you get a general category and not a specific car description. 4 turo has more options for nicer cars. 5 turo does not require good credit.
I dont usually listen to podcast/interviews and this it the 1st time coming across this channel but, this was wayyyy more enjoyable than i previously thought
Brother Matthew visited my Zion before in CA chopped it up for good minute!!! S/o to brother David didn’t know you were in the truth too my good sir!!! Let’s go!!!! S/o to all my brothers and sisters tryna get it physically and spiritually!💪🏾
Happy Sabbath🙂 I think this is a sign. I posted my car that’s been idle since WFH. As soon as I was approved the next day I had already found my first renter by noon. I made my monthly car payment amount renting out my car in one week. Hearing your story and others makes me want to build my own fleet business. Subscribe ✅
No one finances 33 cars to rent out on Turo. And frankly, no bank is going to approve 33 cars, unless you Mary Blige. Typically, you're limited to 7 loans at one time. You'd also need commercial insurance , because insurances will question why you have so many cars and why you switch up so often!The best thing is to get 10 - 15 cheap cars from private sale(test drive) or used car dealer up to $6,000 and save $2,500 for repairs or fix yourself. Then list the car. Tires and parts are cheap for older cars(an engine for my '17 Mitsubishi Mirage is like $750).
This is by far, the BEST video I’ve ever watched in my whole life!! I needed this, bc the Mrs & I were already on this page (renting out cars), but this took our outlook to the infinite level! This is GAME FOE YO ASS!!! Thanks brothas!!!
David what’s good Brother? I stumbled upon this video 3 moons ago & it taught me so much I repeat many of these lessons to my associates & clients. I’m about 20 interviews in to the social proof library now. I listen to 2 or 3 a day. This is my second time watching this ep. I already know how wealthy you’re going to be & I’m eager to watch it unfold! The black & yellow flip is saucy too btw! Thanks Man, stay up!💪🏼😤🕯
this is phenomenal. I've been wanting to get another car and do turo adn this has felt like a one stop shop in being successful in the business! I will be taking this for years and years thank you so so much!
I was buying a car 3 years ago and the guy who was selling me the car told me about Turo and how he never pays his car notes because he rents his car out. If I would’ve known back then what it truly was... I would have BEEN started this business😩. You just dropped lots of jewels in this podcast. I’m definitely about to look more into this by investing in your course. I CAN’T WAIT to grow and continue to build wealth for my family.
Great interview, leaned about a whole new world. Thank you for sharing your knowledge and experiences very entertaining and eye opening. Matty consider reaching out to bigger pockets business podcast and side hustle show podcast I'm sure it will expose you even further and help you in your mission to teaching more students!
Sins are forgiven at the time of true repentance. Without the shedding of blood there is no remission of sin. The blood of Jesus washes away all sins. Baptism in water is the public symbolic showing of that. But you have to be baptized with fire and that comes with the Holyghost. Not only will we know we have true salvation but it is not just a talking point. When a person has been saved they have a different mindset towards sin. They run from it . They have power to tell the devil no and mean it.
