What has your experience been while renting out on Outdoorsy or RV Share?

@maverickf13

2 жыл бұрын

I'd suggest pinning this question to the top because I almost missed it... I actually want to rent travel trailers on a site (so they don't go anywhere)! Just subscribed, will let ya know how it goes

@GregActonCPA

2 жыл бұрын

@@maverickf13 that could be really smart. Relatively low cost to start when compared to a small cabin or something similar and way less hassle when they aren't moving.

@maverickf13

2 жыл бұрын

@@GregActonCPA We shall see! The numbers work out, but the location is the difficult part. The more money you make, the more strict counties are on regulations!

Your trailer, your rules. Don’t rent your trailer out for a day at a time! Three or four day minimum! Then you’re not cleaning it every day, if they don’t dump it charge them extra, am I really hearing all this correctly? I’ve been renting my trailer out for six months and it’s the best thing I’ve ever Done! My advice to anybody listening to this is useless as a guide of what not to do. No wonder this guy is so frustrated!

@GregActonCPA

3 жыл бұрын

Glad its been such a good experience for you. I did start limiting my rentals to 3-4 day minimum but I still found it was more active then I was personally looking for. I love the passive income from my rental properties and $20K from selling my trailer is almost a down payment on a rental house. So I jumped ship. As stated in the video, I do think someone can make great money renting a trailer out. Just wasn't for me.

@cryptomom3170

2 жыл бұрын

So do you deliver

@GregActonCPA

2 жыл бұрын

I did deliver sometimes. If the rental revenue was high enough I would deliver. But I actually ended up selling the trailer and have taken my money and invested elsewhere.

@saysgrace_

2 жыл бұрын

When it comes to having to show everyone how to use it, you should create an instructional video that everyone has to watch. That way, you’re saving time

@wilhallman2890

2 жыл бұрын

@@saysgrace_ also create a small book with photo instructions (laminated)

Just throwing my 1 1/2 cents in here but maybe a video tutorial for any education that the renters need to operate the unit could help. That way they could be previewing the video prior to rental and then refer as needed; it could also serve as a list of expectations.

@GregActonCPA

2 жыл бұрын

William I really appreciate the suggestion! It's been over a year since I rented out my trailer, but I could run through everything I had to do to rent my trailer out on Outdoorsy. I'll get this video idea on my schedule :).

@mhkadventures1527

2 жыл бұрын

Great idea!

Great, honest video!

@GregActonCPA

2 жыл бұрын

I appreciate that! Thanks for watching!!

Thank you so much for these information. I'm the most experienced RV traveller in my family. And then my uncle wants me to run Airstream rental business solely on his behalf. He said he'll pay me 15% of the what customers pay. To me that's the worst business. He doesn't understand how much time RV rental business would suck from me. He thinks there will be some easy money for me. Sigh.

@GregActonCPA

Жыл бұрын

Yea it takes a lot of time to run an RV rental business. I'm sure someone could make money off of it, but getting only 15% would be rough.

@digitalnomadtravels

Жыл бұрын

40-60% is what you should get probably

As a firefighter my schedule allows 5 consecutive days off to make this a part time gig. I'm in the process of renting out my travel trailer that I conveniently have parked on my property ( i live on 13 acres). I believe the only struggle i may come across is most people do not drive a 3/4 ton truck. Im constantly looking at the pros & cons, but this video was very insightful. Thank you for making this.

@GregActonCPA

Жыл бұрын

Glad the video was helpful! Yea making sure people have the proper truck and experience was a huge hurdle.

Thanks for the info ! wife and I are thinking about renting our camper I work 3rd shift so morning or early afternoons are free , we have a 20,000$ loan on it with insurance and storage we pay about 350 a month if I could make that it may make sense

@GregActonCPA

3 жыл бұрын

With mornings and early afternoons free you might be able to make it happen even with delivering it. But even if you opted out of delivering your trailer and only rented it to people who were going to tow it themselves you would still probably make enough to get a "free" trailer out of it. If had your work schedule I would have been more tempted to keep my trailer.

You needed to raise prices drastically on delivery and set-up.

@GregActonCPA

3 жыл бұрын

Man I did. I started cranking up delivery fees big time this last year. Still was just too time consuming. Maybe if I didn't have a full time job it would be more worth it

@helamantait9419

3 жыл бұрын

I see after I posted that comment I was a little bit unsure whether the brokerages you were using possibly had a limit on delivery and setup I didn't know. It would being interesting to experiment to see if people would pay how many multiples more for delivery and setup than the actual cost of renting the trailer?

@GregActonCPA

3 жыл бұрын

@@helamantait9419 Totally agree. We started bumping it up and people just kept paying. I think COVID helped because people saw RV/Travel Trailers as safer than hotels. I honestly think someone could make some money if they were doing RV/Trailer rentals full time.

Good info. I might have looked into leaving the trailer at a site long term (if they allow it), and include the cost in the rental. Then you could hire someone to service it, like a hands off airbnb.

@GregActonCPA

3 жыл бұрын

I like your thoughts! That could be a great way to keep it more passive put still earn money. You'd just have to make sure your booking rates are high enough to cover your monthly rental fee at the camp park and to pay the staff.

Seems kind of stupid to me, if you are getting excessive demand, common business census up your price so that you can come up with a happy medium. You would make more money and you wouldn’t be so frustrated.

@GregActonCPA

3 жыл бұрын

I hear you, we did up prices for delivery significantly. I agree 100% you can make a lot of money from renting a trailer out. But I was seeking for a more passive income streams so I sold the trailer and run rental properties instead.

Thanks for the video! I really wanted to do the same thing but it would be tough having a full time job and my wife stays at home so she would have to be cool with that hustle for sure lol but 20k won’t get you anywhere close to a rental property here is Seattle market :/ we are getting beat out by cash offers for a 700k house 😅

@GregActonCPA

3 жыл бұрын

Yea, it really was a good little investment and it made decent income. Just not quite as passive as I would have liked. But, if you are willing to put in the time, then it can work. Yea I am lucky to live in a market where housing isn't too crazy.. although house prices are increasing here as well. I wish you all the success possible! You'll find success, simply because you are looking for it.

@me-od8sv

Жыл бұрын

You can get a rental property with 20k down, I see them all the time. Mostly they will be fixer uppers and you’ll have to fix up the property, but they’re out there.

I think a few things 1. You are definitely right about it not being passive 2. If you had a motorhome, you would have much less work 3. If you had a motorhome, you would make twice as much per night, and 4. Motorhomes have more maintenance but again for those trying to be more passive a small class b or c would be way better

@digitalnomadtravels

Жыл бұрын

Also could have required 5+ night stays one month out or more and get less strict the closer it gets if you feel like it

@GregActonCPA

Жыл бұрын

Great suggestions. The motor home would be much much easier to rent for sure.

Can you discuss running the p&l through a sole prop vs. LLC and ease of transfer back to personal use if things don't work out and/or ability to continue to use for personal use while also using it for a business (probably a ratio used and depreciation only allowed for 80% or something). I think depreciation would have to be recaptured if LLC (but could also be taxed as a sole prop) if transferred back from personal use. Ideally, I would like to have the legal protection offered by an LLC (I understand that I would likely be piercing corporate veil and sufficient insurance is in place in the unlikely event subrogation to the manufacturer was insufficient) but also be able to use for personal use if desired.

@GregActonCPA

2 жыл бұрын

I typically like to run all business ventures through an LLC and is mitigates some risks if you find yourself in a law suit. Using a business asset for personal use would just mean that you would only be able to take a portion of the assets cost as an expense based upon use. If 20% is personal use then you can't write off 20% of the cost. You are right that depreciation recapture comes in to play when transferring assets out of a business.

I was curious, what has been your protocol on tires that blow out while a renter has it.

@GregActonCPA

7 ай бұрын

I was lucky enough to not have to deal with that. I don't rent out any trailers now so I don't worry about it.

Sounds like you need to outsource cleaning, increase length of stay requirements, and increase price to decrease demand

@GregActonCPA

2 жыл бұрын

Totally agree that we could have done that. But even thinking of that we decided we liked other investment avenues better so we sold the trailer and bought a long term rental house.

I find Outdoorsy is better than RV Share. Also minimum 3 night rental and include cleaning fees, if necessary. Yes it involves some time, but at end of day rentals pay for travel trailer.

@GregActonCPA

2 жыл бұрын

100% agree with you. I was able to completely pay for the trailer just by renting it out. Outdoorsy is a great way to get a free trailer!

Kinda agree with you om the time it takes...not easy job and lots oh hassle. Problem with class C RV is potential with accidents while driving... might be not fun to deal with. Too bad for 20k here all yiu get is a down-payment for a tent... need 300k down-payment for a rental property

@GregActonCPA

2 жыл бұрын

Yea I'll admit this video hasn't aged well when it comes to the down payment comment. Real Estate has gone a bit crazy where I am located as well. $20K is a good start on a down payment but to get 20% down here now you'd need around $50K.

I had most people destory my 2021 212QB jayco. I also had outdoorsy not cover any damage. the insurance they told me covers out side damage nothing inside. outdoorsy is garbage.

@GregActonCPA

Жыл бұрын

Man that is brutal! Sorry you had to deal with all of that. Luckily my experiences were all pretty good. I didn't get any rough renters so I never had to make a claim through outdoorsy.

@oliverwilson5957

Жыл бұрын

Should that ever happen again, what can you do to cover the damage caused?

Could you just drop delivery as an option? Sounds like that was the biggest headache? Without delivering and picking up it sounds like it’s more passive. That’s kinda where I’ve been leaning but unsure how many would be interested without those amenities

@GregActonCPA

3 жыл бұрын

I'm with you, and yes we could have dropped delivery. In the market I was operating, not delivering probably cut my rentals in half. So it had a pretty big impact. With a full time job it got difficult to deliver as much as people wanted. I still think RV rentals would be amazing, but I found more joy in real estate. Plus real estate has proven to be much more passive. Have you started renting an RV out?

@jamescanfield5948

3 жыл бұрын

@@GregActonCPA Not yet. We’ve been looking at getting an RV but the cost to own just couldn’t be justified for a handful of uses each year. We heard about RV rentals and thought maybe owning one wouldn’t be so bad.

@GregActonCPA

3 жыл бұрын

@@jamescanfield5948 Yea, if you are willing to put in some time, buying an RV is much more feasible when it can pay for itself through rentals.

I can’t find any info on where to put said Towable for rent. I’m 22 and bought my first Camper just recently. But I don’t have any land to put it on. It’s a big 2009 Jayco Camper… I’m doing repairs. I want it to be stationary But I don’t know how to find a place to put it for rent. Should I be looking at lots for rent or someone backyard and sideyard for rent ? And How do I find that????? Please help ! Thanks

@GregActonCPA

Жыл бұрын

I would look for vacant land for sale or for rent. You'll have to be very particular about the zoning as some land may not be zoned for that type of activity. If you have a certain area or city you want to have the trailer, I would go ask the city office for a plat map showing the zoning. That will narrow down your search.

May have missed it, but how long did it take to pay the trailer off?

@GregActonCPA

Жыл бұрын

I paid the trailer off in like 6 months, but that was using funds from my Airbnb's to help pay down the trailer. If I had just used funds from the trailer to pay down the loan it probably would have taken me 2-3 years.

8:10 Set a 5/6/7 day minimum rental period on Outdoorsy and that would solve your problem=

@GregActonCPA

Жыл бұрын

Agreed, longer stays were much more worth it

I like the video, I am retired. I have a small wolf pup limited. And I would like to rent it out, but I would like to know what is expected to provide outside of just having the trailer and all the dump accessories. Do you have to provide sheets, utensils to eat with, toiletries, things of that sort. I live in Alabama, I don't know the high demand if any in this location. If anyone has any advice around the Alabama area or any advice in general. Please let me know I am interested. But I don't want to be caught off-guard LOL

@GregActonCPA

2 жыл бұрын

I don't think there is anything necessarily that is required to provide, but in my experience it is helpful to supply bedding, utensils and toiletries. We would actually give the option of a fully stocked trailer including camp chairs, cooking items, spices, hot dog roasters, etc. and charge an extra $20 for it. As far as specific advice for Alabama, I won't be able to speak to that. Hopefully someone watching will have experience there and be able to help.

Great info. I don’t have an interest in camping, but interested only in a lower cost income producing asset. Do you think a simpler camper (maybe a teardrop type with less amenities) would work better? Easier to use, pull, etc. Of course lower rents. Thanks.

@GregActonCPA

3 жыл бұрын

Yea a smaller trailer could be beneficial as more people may be able to pull it with a smaller vehicle. Honestly, I bet you could still rent it out for quite a bit. If I were to do it again I would go that route. Smaller trailers will open you to a lot of renters as a lot of people travel with just a significant other.

@joeyslaughter5791

3 жыл бұрын

@@GregActonCPA What’s weird is Rich Dad (Robert Kiyosaki) would never say a camper is an asset, however with new sharing platforms like Outdoorsy, strange things can become assets. I’m looking for opportunities in this price range (less than a rental home). Are there other investment opportunities similar to this?

@GregActonCPA

3 жыл бұрын

@@joeyslaughter5791 Yea, who would ever think a camper could be an asset, but when it cash flows, then by even Rich Dad's definition it becomes an asset. I personally haven't done it, but I have been considering looking at Storage Containers to put out on raw land and then rent them out as storage units. The containers you can pick up for pretty cheap and simply just park it on an empty lot and then start collecting rent. I think jumping in to something like that would be awesome! Or even just purchasing raw land and allowing people to park Boats, RV/Campers, and other items on could be good as well. At that point you are only in it the cost of land and maybe a fence.

@joeyslaughter5791

3 жыл бұрын

@@GregActonCPA I own a small 86 unit storage facility. Easy money. I stay at about 90-95% occupancy. I’ve thought of the storage containers like you said to increase our square footage. I live in Virginia and they’re around $2500 for the 40’ ones and $2200 for the 20’ ones. Everyone wants the 20’ ones. And yes the land to park those campers is a hot item too. My storage facility isn’t big enough to park those but we get calls for it all the time.

@GregActonCPA

3 жыл бұрын

@@joeyslaughter5791 Man that is awesome! I have been looking at getting in to the self storage business for a while. $2,200 isn't too bad, how much do you think you can monthly for rent? Yea, the RV storage I'm sure is a big one, but it does take up a lot of land.

Hello from San Antonio Texas

@GregActonCPA

2 жыл бұрын

How's Texas these days? My wife loves San Antonio and wants to take me there some day.

@Dgarza461

2 жыл бұрын

@@GregActonCPA it’s great I’ll be moving to Corpus Christi tx in a couple of years.. if all goes well

@GregActonCPA

2 жыл бұрын

@@Dgarza461 Don't blame you, Corpus Christi looks beautiful!

why not just do longer minimum rental lengths to reduce how much work you have to do? also, to cut down on instruction time, make a detailed video of it for them to watch on youtube.

@GregActonCPA

Жыл бұрын

Great suggestions! The video would have helped a lot!

Attempting to go to Yellowstone NP. Never camped or RV. I read some deliver the RV. Can someone also, make camp reservation for us? Thanks for the video

@GregActonCPA

3 жыл бұрын

I haven't seen it where someone who rents their RV out on Outdoorsy will make the reservations for a camp park spot for you as well. I'm sure there are companies out there that would do it, but at that point it wouldn't be renting through Outdoorsy.

@rayngrace

3 жыл бұрын

@@GregActonCPA much appreciated.

Honestly it sounds like you did it to yourself by hauling the thing out to Moab and renting it out for as little as a day. Have people come pick it up, put a 2 or 3 day minimum. Make a guide/video guide. And raise your prices to decrease quantity demanded. I feel like this could have been run much better operationally-speaking. Then again, I've never done it.

@GregActonCPA

2 жыл бұрын

I won't argue with you. I completely agree there could be some changes made to make it much more manageable. What it really came down to was I took the money from selling the trailer and investing in a long term rental property. Which I am much more used to managing so it made more sense for me to get more rentals that way.

@ballwizz23

2 жыл бұрын

@@GregActonCPA Makes sense. I'm doing something similar. I'm getting a trailer for cargo and moving purposes and then I may convert it to a camper and rent it out for a year or so before selling it to get some property. Glad it's working out for you!

@GregActonCPA

2 жыл бұрын

@@ballwizz23 Sounds like a great plan! I have looked at converting an enclosed trailer to a camper just for family use but haven't done it yet. Good luck with everything! Thanks for watching!

I would NOT be hauling an rv for ppl. No way lol

@GregActonCPA

2 жыл бұрын

Yea it got old fast!

It’s a business and not meant for those thinking they can earn a few bucks on the side. Nothing comes for free and if you want to make money, you do have to work for it. You should have built the cost into a cleaner. You burnt out which was your biggest mistake. You’re also wrong thinking that their million dollar insurance coverage was enough. Glad to hear you didn’t have to use it because a general policy isn’t enough. Remember you don’t get anything for free.

@GregActonCPA

2 жыл бұрын

Hey Brad, thanks for watching. You are 100% right, I got burned out. I have 3 rentals that take much less work and make me great money. All if them take work, but I found the rentals to be a lot less work then the trailer rentals. I am very grateful that I didn't have to use the insurance. Either way, I tried to give my honest opinion on my experience with renting my trailer out. For me, it was more work than what it's worth so I bailed.

Just make guides one time for how to use everything

@GregActonCPA

2 жыл бұрын

Good suggestion, we did have printed guides in the trailer to reference back to. I'll admit we were a bit concerned that people would attempt to use the trailer before reading instructions so we did in-person walk throughs.

You couldnt recruit a late highschool early college student that wants to do your set up/return documenting to run the passive business? Your really just putting your credit and cash overhead at stake.

@GregActonCPA

3 жыл бұрын

I had thought about it, and I agree with you. There would be ways to take the hassle away and still make money. There were a few hurdles that I couldn't get past. 1. The hours would be very sporadic with only 1 trailer and most people that age were looking for full time positions for the summer. If I had more trailers it would have been worth it. 2. The opportunity with the capital that was invested in the trailer were greater else where. I actually ended up purchasing a hotel and using the money from the trailer for a portion of my down payment.

2:30

@GregActonCPA

2 жыл бұрын

Yea that trailer took up so much time!

Their cut is too high. Sorry.

@GregActonCPA

2 жыл бұрын

It's all good. I just moved on to different investments. If I wasn't working full time as a CPA I might have kept it, there was decent money in it, just too time consuming.

@patton9696

2 жыл бұрын

@@GregActonCPA agreed, I prefer rent houses

@GregActonCPA

2 жыл бұрын

I am 100% with you there.

Dude charge $100 clean fee and $150 (minimum) delivery fee. That's $250 off the top for your labor. That should be well less than 5 hours ($50/hr)

@GregActonCPA

2 жыл бұрын

I am 100% with you. I started charging a lot more for delivery, and that helped. It can be done as a successful business no doubt! But in comparison to buying a long term rental it still wasn't my favorite investment. I could make the $50/hr you mentioned or I could take the $20K I bought the trailer for and use that money to buy a long term rental property netting $400 a month in rent for which I maybe put in 2 hours a month. That gives me a $200/hr rate on my time so I opted for that. Both are great side hustles, I just decided to go a different route.

That’s a myth. There is no such a thing as passive income. Don’t fool yourselves or let yourselves be fooled! Every business requires dealing with people and provide of customer service. It is all time consuming and a lot of work.

@GregActonCPA

2 жыл бұрын

I agree with you. But there are things that much more passive then others. That was the point of my video, I'd rather invest in rental real estate that makes me much more money for the time spent on it.

@patton9696

2 жыл бұрын

@@GregActonCPA Well said.

@GregActonCPA

2 жыл бұрын

@@patton9696 Thanks Mike!