It was great to have you Will, thanks for letting HP and I show you a day in the life of running our fleet! Can't wait for the next collab when we make the drive down to Austin!

@financialwolf

2 жыл бұрын

Haha hell yah! Look forward to it

@droiltd

2 жыл бұрын

It’s finally here kzread.info/dash/bejne/qGVlq8GrncK_ndI.html

@exxxxoskeleton

2 жыл бұрын

Can’t believe you guys pay for oil changes instead of just using a fleet account with Midas!

@AubreyJanik

2 жыл бұрын

@@exxxxoskeleton changing our oil in house is not only cheaper it requires significantly less time. We don’t have time to be sitting around at a shop when we can get it done in house in 15 minutes. Time = Money

@exxxxoskeleton

2 жыл бұрын

@@AubreyJanik well put

The fact that he’s a mechanic helps so much with saving costs and what is up with all the people crashing in turo cars 😂😂

@thisismagacountry1318

2 жыл бұрын

Drinking

@xilencered7788

Жыл бұрын

They dgaf

@justsaying3899

Жыл бұрын

That's the reason they have their own car recklessness 🤷‍♂️

@theepicricemaker6611

Жыл бұрын

Even just knowing how to do your own oil changes saves a ton of $, I have 2 cars and do food delivery full time. I do oil changes on one car ~every 4 months, so that's like $300 a year that becomes $100 since I can do them myself and they only take like 20 minutes. Other car, changes would be like $120 and I spend $80 but that's only because I use really good quality oil

I knew a dude named Erik Kwan in LA. He was the largest turo person out here. Had 300+ cars, a mechanic, and 3-5 person office staff to handle everything else. Also had a plug on auctions and when he sold the car back he basically didn’t lost any value on the vehicle. BUT it was a headache and a half he said.

@Reverend-Race-Horsey

Ай бұрын

He needed way more staff! ⚕️

Huge fan brother keep on progressing been watching since you were on Reyes entrepreneur channel nothing but success brother!

Epic video man! It’s inspirational to see the scalability of the Turo business model

@wittmoney7444

2 жыл бұрын

💯 agree, epic video as always!

Yooo, been waiting for this collaboration since you started your Turo journey. I watch both you and Aubrey and HP, it been interesting learning and now I started last month on Turo.

@rickjames3606

Жыл бұрын

How is it going for you?

Your videos are first class! and pack full of good stuff.

It was a blast shooting with you! This video came out awesome!

@financialwolf

2 жыл бұрын

Thanks for letting me come out and film. Glad you enjoyed it :))

I've been following Aubrey and HP for a while. I saw your previous Turo video where you said you were moving to Texas and I immediately thought that it's near them. I'm glad you collaborated on this video.

@Mark-mb3hz

2 жыл бұрын

Yea he shoulda came to Houston tho. There's like no youtubers from here

Calibrations is good, thats was nice of them to give this good info

I love to see videos about the Turo business and as of right now Will makes the best videos on this topic.

Banger Video Bro

@financialwolf

2 жыл бұрын

thank you man!!

I had the same kind of business on Turo as this couple but I quit due to several reasons. Too many bad renters that Turo allowed on the platform. This couple is saving money because the guy is a mechanic that is a major money saving but it's very time intensive business. Just cleaning, dropping off the car, and dealing with the renter's needs is a a full time job once you scale past 4 cars. I get almost messages every day once I hit 5+ cars and barely any free time. Every holiday you're working because that's when people need a rental the most. Forget about fixing cars, the most common problem I get is a flat tire or dented rim that a renter claim it was my fault even though they rented it for 2 days and suddenly had a flat and refuse to pay for it.

@lotannau

Жыл бұрын

what age demographic are you renting to? also once you scale to a certain amount it would be better to have people manage your vehicles for you for a fee

Finally been waiting for this video

@financialwolf

2 жыл бұрын

It’s finally here!!

So happy to see the notification that you uploaded please upload more

@financialwolf

2 жыл бұрын

Haha thank you! More videos soon. I’m trying but it’s tough because I want to make every video better then the one before.

Great video! Jumping into more businesses

@financialwolf

2 жыл бұрын

Thank you!! Trying to haha.

I'm always excited whenever you upload a video :)

@financialwolf

2 жыл бұрын

Happy to hear that! Thank you!

Had fun filming and meeting you Will! can't wait to see how much money you rake in with Turo!

@financialwolf

2 жыл бұрын

Haha appreciate that HP! It was great meeting u. You and Aubrey were both super cool in person 😂 had a ton of fun that day

@ZingPow

2 жыл бұрын

Nice way to go !!! I currently own 35 cars in California and I remember when I was 10 to 15 cars and how much easier it was lol

@RB-es1vx

2 жыл бұрын

Hey HP, do you guys just do Turo to make income, or do you guys have a daily full time job?

The legend is back🏆❤️‍🔥

Awesome video! Thinking of trying that out here in AZ as well 🔥 😎

Great vid wolf❤️👍

living legend good work been here sense candy school thing just blew up

Love these videos

@financialwolf

2 жыл бұрын

thank you!

Like your videos man cheers🥂

Great video!!!!

Awesome video man!

@financialwolf

2 жыл бұрын

Thank you!!

Nice bro. At the end of the day its an investment return rate over many years.

Enjoyed this video.

@financialwolf

2 жыл бұрын

Glad to hear it!!

I love this video so much

bro tysm i am making sure i subcribe

I get excited when you pst a video

@financialwolf

2 жыл бұрын

Glad to hear!! :)

I like the numbers at the end a lot of ppl don’t like to talk numbers directly like that

Are you going to release drop shipping video soon?. Nice vid man 👍

@financialwolf

2 жыл бұрын

I plan to release one about Dropshipping when I find a good product and build up a solid store :) I’ve been on the look out. New video tomorrow though

Another thing I see that most of their cars are Japanese cars which are more reliable and have a long engine life and less maintenance and not many problems.

HYPE!!!!

@financialwolf

2 жыл бұрын

🔥

Banger video can we get longer video's

@financialwolf

2 жыл бұрын

Soon! Next one should be longer

Amazing video

@financialwolf

2 жыл бұрын

Thank you!

@GloryInvestingShow

2 жыл бұрын

@@financialwolf do you answer on dm on IG?

How did you find a used car that meets all the requirements for turo? Used car now are ridiculously crazy prices

how does the personal insurance work for the turo cars? Is it just like buying insurance as if it was your own car?

GOD CONTENT CREATOR!!!

@financialwolf

2 жыл бұрын

Thanks!!

Instead of having so many cheap cars. I live in a luxury market in Scottsdale Arizona so I started with a Camaro v6 then got a v8 Camaro and now looking for a Mercedes’ c class to add. I just don’t feel those cheap cars are worth having in the long run and would be hard to sell here in Scottsdale afterwl I’m done with them

where do they keep the cars?

Hey! Just a word of advise (use it if you want lol) but invest in AAA. It’s like 100-200 a year to be a premium member and one of the benefits is free towing up to 200 miles. It may save you in the long run but i don’t know.

@nealshue6791

2 жыл бұрын

Turo guests have roadside assistance while on a trip. AAA is nice but certainly not necessary.

@chrispy0812

2 жыл бұрын

@@nealshue6791 I meant for Will not the guest! He mentioned that he had to pay a tow truck to get him back to his garage.

Do you purchase insurance for the vehicle?

I have a 6 speed manual car that I was thinking of renting out. Do you have any advice about renting a manual vehicle?

a 2011??? i thought it had to be 2012 or newer? also you mentioned 120k miles on one of your vehicles and shouldnt it be below 120,000 miles since thats turos requirements?

where do they store all 13 cars?

Let's go

How are they able account for multiple cars being needed at the same time? That's what I wanna know.

where do they park all 13 cars ?

who are you backing in the creator clash?

Where do they park all their vehicles?

I heard turo dont accept cars that are over 11years is that still the case?

Im 16 and want to start investing early but my parents dont have papers or ssn to put me as an authorized user helpp

Is it legal to rent a private car in the us?

Where do they park them? What's the overhead like? What are the fees associated with Turo? What is covered under the Turo insurance? Do you need any special licensing? Missed the mark on so many points.

@jabariphillips8855

Жыл бұрын

No special licensing is needed. Turo provides the insurance and you decide how much deductible you want to pay. That effects your percentage of payout. It’s between 60-90 percent. With 60 percent offering the best amount of coverage for the host, and 90% offering the host the best payout but the highest deductible. You’ll need to park the cars somewhere close by your home or the airport most likely. Theres storage units for rent typically between $100-300 a month that can hold 2 cars or 3 Vanderhalls/Slingshots. Your overhead will be determined by those things plus car maintenance. Cars with warranties will typically have the lowest cost to maintain except tires and brakes.

She’s definitely the boss

Trying to get like you my boy

@osu33089

2 жыл бұрын

Ih muh be nize

money 💴

@financialwolf

2 жыл бұрын

💰

I have two questions. 1. Is Turo insurance required? 2. When owning that many cars for the purpose of earning money, do you need a special type of license or permit or anything like that?

@jamarranthony

2 жыл бұрын

No you don’t need a permit unless you mean for parking depending on where you live. Turo insurance is smart to have to protect you and you have to choose an insurance plan regardless so you might as well be protected

How strict is TURO on the mileage? It says on their website max of 130,000 miles. Its hard to find cheap cars with that low of miles.

@yourmom4720

2 жыл бұрын

Why would you ever buy a car with that many miles and expect to make money with it?

@rileybrown4066

2 жыл бұрын

@@yourmom4720 why wouldn't it be able to make money? 130k isn't that much for certain cars

@yourmom4720

2 жыл бұрын

@@rileybrown4066 maybe not for everyday owner but in rental 30k miles is alot. 100k mileage car will be unreliable and cause issues for renters leading to bad reviews and low occupancy plus high repair costs. Then your left renting to desperate, low income bad credit drivers that will smoke in your car, trash it or steal it. All these headaches will leave you chasing your tail and never actually profiting.

@osu33089

2 жыл бұрын

@@yourmom4720 4 cars from my fleet are around 130,000 miles. They have paid for themselves and have produced a fair amount of positive cash flow with no problems. Of course I have some newer cars and slightly used with low miles.

@yourmom4720

2 жыл бұрын

@@osu33089 *fair amount of positive cash flow.. what, $100 per month? There's no way on annual basis it's more than $1,000 per car. Over 1 to 3 years that average is even lower accounting for true maintenance cost of 130k mile vehicle

How many hours per week total are they cleaning, communicating, gassing stuff up, fixing etc???

@surfingtothestars

2 жыл бұрын

A lot less than 40 hrs per week and still making 8-10k a month

hey Bud are you in Austin ?

We have 150 cars on Turo and we live on Kauai, Hawaii. Check out Ali’i Rental Cars.

Nice video man. Do you think turo worth it after spending money on maintenance? I know you said $6000 would be your payment for the year. Not bad as long as the car maintenance don't exceed that.Also I sent you an email a couple weeks ago talking about possibly doing a collaboration. Did you get it? Might head out to Texas the end of next month.

@financialwolf

2 жыл бұрын

I’ll check my email! That $6000 profit is after projected maintenance expenses of $200 per month max

@KentPetersonmoney

2 жыл бұрын

@@financialwolf That's good.

@curen4478

2 жыл бұрын

@@financialwolf what does the $200 maintenance projection include? do you clean the car after every renter?

@KentPetersonmoney

2 жыл бұрын

@@financialwolf I sent it to the email address you have on youtube.

@osu33089

2 жыл бұрын

Id focus on growing cash flow in general and do your best to keep it positive. The cash flow regardless of true profit is extremely valuable. Of course it must be profitable; just don’t get caught up on the net figure when you are trying to establish something.

So where do they keep all their cars?

@raymanmufasa

Жыл бұрын

init .... allot of missed out information but maybe the cars are always out haha so no need for space

mileage limit?

The only issue I see = My Jeep renegade rents for $50 a day I would have to rent it For at least a week a mo Just to cover my car payment That leaves me Without a vehicle for work And my rent is $1200 a month … I’d have to rent it Every day to cover my expenses And it doesn’t seem vehicles Get booked every day! Do they? Thanks.

@canin7874

2 жыл бұрын

You cant ensure they will always be booked. So your personal finances cannot be so tight your at the mercy of a slow month.

@itzyaboybugz

2 жыл бұрын

@@canin7874 yeah I’ll wait on Turo til I can afford a 2nd vehicle to rent as supplemental income

Hey here is some constructive criticism. I am a great fan of the side hustle videos, and i’ve seen some of the views on the turo videos, and they are not too great. They are very nice quality videos, but i have seen the views go down a bit recently. Mix it up a bit! Anyways, nice video and have a great day.

@financialwolf

2 жыл бұрын

Turo video views are 21K, 23K, 24K, and 32K about average for the channel. Views on the channel have been kinda in the same range for the past 9 months. Going to try some major new things in the next couple uploads. Hopefully we can get it up there 🔥🔥

@Jak3C06

2 жыл бұрын

@@financialwolf Ight bro! Sorry if i seemed a bit rude, but I am not too interested in the Turo videos. Thanks so much for responding dude!!!! I am subbed and have post notifications turned on. thanks bro made my day

I also don't see this business profitable without self maintenance of the vehicles. I have my business in Oslo Norway , 13 cars at this moment. I do 90 % of reparations by myself and it's going really good. If you are not a mechanic or you don't have a really good friend who can repair the cars , it's not gonna be profitable. I see many people going out of thee business , because of the high costs of maintenance. Btw Iam on Getaround 👍

@leadnsteel1428

Жыл бұрын

I see Turo becoming the next Uber..... lousy pay and high expenses

@devin19222

Жыл бұрын

@@leadnsteel1428 not really possible, turo can try to take a high fee maybe, but you set rental prices and fee structure for services. Pay wont drop unless its profitable to do so for the actual people using turo to rent out cars.

I've rented 7 vehicles from turo so far. I have my own vehicle, so I only rent fun stuff from turo. But, even if I didn't have my own personal vehicle, I'd never rent a piece of junk (which is what all of these cars are) from turo. Why pay $50/day for some old piece of junk econobox (sorry, a 2007 versa..or really..anything else in this video) with 200k miles when I can go to enterprise and get something less than 2 years old and under 30k miles for a couple dollars more??

@dprecocious1

Жыл бұрын

Because there are-and will always be-more financially fragile people than financially advantaged people.

@hypecentric

Жыл бұрын

@@dprecocious1 na, this is junk

@Brumgake

Жыл бұрын

In my area there is ONE Corolla available to rent through enterprise. For $60 per day. They are talking $30-40 per day. $600 compared to $350 we’ll call it is a big difference for someone who A. Isn’t strapped with cash and B. Just wants a small economy car. So I’d say undercutting rental companies by nearly 50% and supplying MANY more economy options than traditional competitors is actually a good model. You can ask the couple in the video claiming to profit a minimum $8k per month on just over a dozen “pieces of junk”. PS I’ve only used Turo one time for a Tesla model Y, and I own/daily drive a piece of junk 😂

Too many recalls for the Hyundai Sonatas 🤦🏽‍♂️

How are you personally insuring your vehicle for ride sharing???

@nealshue6791

2 жыл бұрын

Aubrey and HP cover most Turo questions on their channels.

@davidrowe4113

2 жыл бұрын

@@nealshue6791 they have already told me options I’m just curious as to how other people are

@osu33089

2 жыл бұрын

I run liability on all 12 cars for when I drive them. Turo in-house Insurance covers the renters.

😎👍

Literally where did they get a 2011 Hyundai Sonata for 6.7k????

They make money selling courses and KZread ads. Good business model.

@financialwolf

2 жыл бұрын

Also side hustles but I make more from KZread then anything else. Don’t sell any courses personally but I get affiliate commissions from other peoples

How does that affect your credit to have 13 cars showing up on your credit ?

@financialwolf

2 жыл бұрын

They’re paid off

@financialwolf

2 жыл бұрын

Bought in cash

I wanna lease McLarens one day

The IRS taking notes

@financialwolf

2 жыл бұрын

😬

Dealing with cheap cars will most certainly be trashy customers that smoke and destroy your car

@osu33089

2 жыл бұрын

And you collect a ton of money in fees from their negligence.

@yourmom4720

2 жыл бұрын

@@osu33089 you can't honestly tell me it's worth the headache. You might act like it is for this internet forum but deep down you know this is a crappy way to try making money

@osu33089

2 жыл бұрын

@@yourmom4720 I’m not here to convince you one way or the other. If it wasn’t worth it, I wouldn’t be doing it and actively scaling up. I have an llc and I’ll be using commercial financing to expand in the near future, so of course, there is growth potential. I would say that it’s not for everyone. There are days that are quite busy with many reservations flipping, cars needing cleaned, cars needing maintenance, delivery to airports, keeping track of expenses, and the time it takes to shop for vehicles. It certainly is not passive while you are growing and flying solo, but what business really is until you are scaled up and are able to hire help. However, I have many days where I am completely free and able to do whatever I need to while money is constantly transferring to my business account. This gig allowed me to leave a decent paying job in oil/gas that was sucking life out of me and consuming 100 hours per week of my time. Now I make decent money while working a fraction of that and my wife still works a salary job. We love this because we are building business credit and eventually, we will get into some other businesses. It’s all funny money anyway, so why not play the game? I offer 24 hour pick up, so I have some days where I have to jump up at 11 pm or like today, someone booked a car over night for a 5:30 am pick up. I had to get dressed, run outside, and get a car checking in at 2:45 am. This does not happen often, but some people might decide to set hours of operation in the platform. Also, if you risk adverse, you will likely run a low deductible which will eat a lot of your positive cash flow. I run a $2500 deductible and plan on having to pay that every so offen. Id rather collect an extra $50,000 per year and pay $2500 when someone wrecks a car vs giving turo that $50,000 and paying $0 when someone wrecks a car. I can manage things on my own. You have view your fleet objectively and see it for what it is: Income producing assets. Not personal cars or something you have an attachment to. And people will smoke in the cars. People will dirty up the interior. People will put little scratches and little dings in the cars. I manage these small things myself and I will demand guests to pay a certain amount for each case. It doesn’t always get paid, but at the end of the day, it’s a rental car. The fees for smoking and cleaning are significant at times, and I have had some weeks that generate a whole paycheck out of fees. Of course you may have to replace a cabin filter which is pretty easy on most cars, or you may have to shampoo your interior. Some days it’s a headache, but most of the headaches are compensated for. Dealing with turo for payouts can be a pain and you sometimes have to be up their butt to make sure everything is being paid properly when it comes to fees, late returns, and reimbursement. As long as you follow the policy and take a lot of before and after photos, you normally have no problems. Getting a fair payout for insurance claims can also be a real pain. When someone totaled my q50 red sport, I had to fight them for over 1.5 months to get a fair market payout. They will play games and make you fight. It’s the nature of the beast called capitalism. Just like with any employer or any market one may enter, no one hands out money easily. So like I said, it’s not for everyone, but I see it as a great stepping stone into full time business/investor life, and I believe that will grow to the point of having hired help to reduce the work load and increase cash flow in the near future.

@osu33089

2 жыл бұрын

@@yourmom4720 I should also add that if you already have an easy job making over $200k per year, then you may not want to mess with this. I think anyone can benefit from running 1 car as a little cash machine depending on where you live. Someone people can make way more money with way less effort like all of those programmers working 3 $200,000 per year jobs at one time from home making over half million to do very little. I wish I had those skills and connections. I prefer working for myself now and I don’t think I will go back to working w2. I always consider the growth potential of doing business in general.

i'm NOOO Mechanic So i Shall Easily Pay 4a Ase Certified Mechanic to come out & inspect an Auto b4 Buying it!

Where are they getting these used cars so cheap?!

@financialwolf

2 жыл бұрын

Mostly Facebook Marketplace

Hmm 🤔…

Hey

@financialwolf

2 жыл бұрын

Yoo

How can you rent out a 15 year old car when Turo does not allow anything more than 12 years old?

@osu33089

2 жыл бұрын

Grand fathered in

New Elon Musk documentary on Netflix!

Something is not right here. This video is seven months old and in it she said she recently bought a 2007 or something like that. I’m pretty sure Touro doesn’t allow vehicles older than 12 years. Why would you buy a car that doesn’t meet the requirements? or let’s say that it was 12 years old, why would you buy that car? It can only be rented out and make you money for one year. Please explain this.

@financialwolf

Жыл бұрын

Cars are grandfathered in. Once it hits 12 years and it’s already listed it can stay on the platform

@specUVdust

Жыл бұрын

@@financialwolf oh wow 🤩

This is more like a full time job than a "side hassel". Taking photos, reparing, customer service..... for what? 30 dollars? Are you kidding me? I would imagine Turo would take at least 20 percent of the 30 dollars, taxes about 30 percent (in Sweden 55%), so you are left with like 5-10 dollars. It's not worth the headache.

$180k is pretty misleading. $8-$10k profit a year is only $96k-$120k a year

Damn, I’m assuming that car you bought was awhile ago, but if you bought it being told it was fine and ran perfectly, you can sue the sellers for selling you a defunct car

@CandyBag

Жыл бұрын

Unfortunately the legal fees would far outweigh whatever money he would recuperate

Why would you buy a kia.

7000 for a car isn’t bad. Tbh

8-10k /mo with only 4 cars ?

@financialwolf

2 жыл бұрын

13 cars

yo

@financialwolf

2 жыл бұрын

Yoo Elon

@socalgsr1

2 жыл бұрын

Love your Tesla’s sir

@Patrick563-3

2 жыл бұрын

@@socalgsr1 I hope you have one..

@Patrick563-3

2 жыл бұрын

@@financialwolf Yessir

Thumbnail from mr beast video 😂

@financialwolf

2 жыл бұрын

Yep good eye 👁

That is taking on a lot of risk and work for $40 a day.

Umm photos before renting? Really? Couldn't someone just have photos taken before any damage then? lol

Bro I have seen the guy that sold you the car lmao. Did he not give you your money back?

@appyk4775

Жыл бұрын

I seen him too bro. He tried scamming me before.

Just wait for the people who trash your car or don't return the car and you have to repo it.. turo insurance also won't cover a total loss accident

@financialwolf

2 жыл бұрын

What do u mean lol? Turo insurance covers exactly that 😂

@yourmom4720

2 жыл бұрын

@@financialwolf good luck recouping it on a 4800 car when the customer declines coverage.

Looks like the Turo Business is not a solo team. Plus, you’re not even a mechanic.

@financialwolf

2 жыл бұрын

I can learn!!

@hpspeed8877

2 жыл бұрын

@@financialwolf E Z P Z to learn. and once you learn once you save racks on racks!