This was a great interview! I just added 4 more cars to my fleet over the past 2 days. Currently sitting at 6 vehicles now with the goal to at least get to 15 vehicles within the next year if not sooner. Keep making great content, I’m located in Dallas as well it would be great to meet and connect with you at some point.Hopefully I can get you on the podcast.
Hey Ced I'm in Dallas but Denton to be specific and I'm looking to get more cars is there a way to reach you and learn game if you're open to it or maybe even a joint venture to grow?
@@Jguill36five247 please share any knowledge you have with me as well please. I would like to have around five units myself I currently have one. Would like to acquire another before years end
@@Somemessithoughtof hey bro 1 way is look up on here how to buy multiple cars for Turo in 2022 and the name of the profile is Turo tactics and he'll explain how to get like 2 or 3 (I just saw this one over the weekend). Another way is get a loan and within 30 days you can go to multiple dealers and get multiple cars and it hits your credit only once. Look into the last one yourself more tho.
Thank you for this. I'm a power host as well and I learned alot from this interview. You could've just had a private conversation with him but instead you made it available for everyone. Thanks!
Amazing work again, great questions. I just got my first car (2011 Fiesta) and will be ready to list next week. Who knew extra car keys were so expensive!
I feel like the secondary benefit to buying wholesale at an auction via a dealer's license is the ability to shift gears very quickly to car sales if and when you wither need to liquidate your owned auto inventory or the rental market goes to hell and you need to develop a secondary source of income.
You don’t need it. Dealer license is just to buy car at auction and save money. You could get 40 cars on personal credit if good enough but most people transition the cars to LLC well before that. Once you have established business credit, it’s not that hard to get $1M funding with a good personal credit profile and collateral (cars are collateral).
I'm researching business options and this is one of them. Can you touch on the numbers please? $100k a month for 85 cars is $1177 per month per car, which assumes he's renting each car non-stop for $40 a day. That alone is impressive if accurate, but I guess the $100k is his "gross" income and doesn't include any expenses? Is that accurate?
I'm sure one car rented more than the other and 100k a month is definitely gross and not excluding the expenses . Take off 30 to 40% and that's close to his or anyone in business profit .
*I will forever be indebted to you😇 Mrs catherine ????you’ve changed my whole life I’ll continue to preach about your name for the world to hear you’ve saved me from a huge financial debt with just little investment thanks so much Mrs catherine Nathan..*
Trading alone is quite risky , i have lost a lot trading for myself but made massive turnover of my fortunes since i started with Mrs nathan,she is the best
Great interview. I have 2 nice economy cars, one nice F150, and One new BMW GSA 1250 in San Diego. sound like a great way to make extra money. all are paid for.
Interesting interview. I'd like to know what the profit is instead of the revenue because you could be bringing in a ton in revenue but, after you factor all of your expenses, it's possible you might be left with very little to no money at all.
Take away about 3 to 500 bucks per month in repairs and expenses for each vehicle. A good guess Is usually around 60% is what yoire left with after expenses and taxes etc... so this person ks still getting around 600k+ I'm sure. Not bad
Her questions are spot on but this guy is rambles WAY too much, especially around the most important questions like the details around his bulk financing, i believe he was purposely getting vague... a horrible interviewee
Do you know of an inventory tracking system for your vehicles? For example, if you have 10+ vehicles is there a software system that you can purchase that allow you to track your vehicles from purchase through the rental process through and use when you get rid of the vehicle?what you bought the car for, how much income the vehicle has produced, or associated with the vehicle?
@@glassawata I told by the DMV,I couldn't have a home office only because I'm on the second floor in a condo.They said,if I were on the 1st floor,I could have a home office.The home office doesn't have to be zoned anywhere as long as It doesn't impact my neighbors.
I've been thinking about potentially starting a fleet and I live in Fort Myers! I've seen some of the Island Rides vehicles while browsing Turo even! Small world!
Hi Aubrey, I am planning to purchase 2022 Porche Taycan and rent on Turo platform in Irvine, California. Based on your experience, what is the practical rent price and how much I can generate per month. If you'd share your opinion, I truly appreciate your comment. Thanks,
Great feedback! I will be doing these style interviews in the future and will be sure to add that to my list of questions! Most large hosts use the 80-90% plan in my experience (though I’m not sure on island rides)
@@recordfinder I'm in the process of transitioning to lula for my small fleet of five. They've given me the best prices out of all the agencies that I've contacted.
@@AubreyJanik Thanks for the response! I'm currently on the 75 but I've been considering changing it lately. BTW your channel has helped me so much as a host to build a small fleet. I really appreciate you and HP sharing your content.
@@ro5245 I’m transferring everything to them now. ABI was $60 a car, lula $99 for my size fleet. But lula is active all the time and 1000 deductible vs 2500.
@@glassawata I put the bottle of water for every rental so far. I then got a 2020 BMW and it's been a headache so far. But this weekends guest have about $600 in fees from violating my rules. Definitely going to charge a lot more for it.
My goal has been to get a dealers license and I have been trying to run turo also. I thought about how I could register other cars to the dealer but wasn't sure I could put them in turo if they are registered to the business or if it was possible with my name on the business and account as well. I'm thinking the way was to use the dealer as a separate company and just sell the cars to myself. Any ideas? I'm in Michigan so I know the rules are different.
One of the Biggest scams Turo of car Renting They told you you have insurance $500 deductible and Every little scratch owner Will told you to or pay to him some amount or you going to pay 500$ any way In my opinion it’s scam
i had neighbors getting rid of theirs due to kids growing out of them so i have two freebies I've made $$ from. Had another guest buy a booster seat and told me I could keep it. Free $$.
Hey! My fiancé an I started on Turo 4 months ago and we are at 13 cars with 3 more getting work done and going up soon. Took a lot from your videos. Would love to talk sometimes
I started with 3 personal vehicles and once my new idea of sourcing vehicles with out using credit or down payments ranging between 2016 to 2022 and newer
If I buy a 2011 in very good condition with 65,000 miles and get it on the app this year, will I be able to keep using it? What is the Turo Policy on that? I do see other cars that are 12-14 years old that are still on the app.
@@recordfinder copart sells salvage cars and regular cars. The auction will list the status of the title. Salvage, destruction, state cert of title, etc. I have bought many cars from them.
Great content. Turo host for only a year but expanding a car about every 3-6months or so currently at 3 looking for my 4th. Such great info in here. Not sure how large I can grow in this market so I’d be interested to see how some may have portions of their fleets in different cities.
On Copart or Salvage Reseller all auctions list the title type. You can filter by title type, vehicle condition, etc. You need a license for Copart, you don’t need a license for Salvage Reseller.
IMO, the most difficult challenges to be able to acquire and run such a large turo fleet are, in no particular order : 1) Being able to afford/finance so many cars 2) Finding a convenient (and large) parking area to store the cars at an affordable price 3) Managing the logistics For me personally, 2) is the greatest obstacle right now :/ Hopefully you can make a video about how to find cheap/affordable parking soon!
100% on car seats and booster seats. there's always someone getting rid of one that's aged out of it. ever consider connecting with someone local and hear from someone on more of the luxury/niche side? plus we could each use a Turo baby-sitter :-)
Hey! So I tried Turo this month, after you replied to my comment! An update on it, I ended up unlisting the car because I quickly found out it’s nearly impossible to rent around the tight availability I had set (Basically only weekends 10-10 AM) I tried to turn off my availability to see what kind of requests I got so I could cherry pick the best ones and ended up getting a “we might deactivate you” email lol because I declined so many bc the length was too long, I can only rent out 1-2 days max and there’s no setting for that. There were a lot of requests which shows me there is so much potential there…so I’m thinking of buying another car so I can make one car full time on turo. Would you recommend that in these crazy car buying times…or should I wait until prices go down so I don’t risk being upside down?