Fresh & Fit - How To Start A Car Rental Business ft. Murci Luxury

00:04:01.000 And we are live.

00:04:02.000 What's up, guys?

00:04:02.000 Welcome to Fresh Your Podcast, man.

00:04:03.000 It is Money Monday.

00:04:04.000 We're going to be talking about how to run a rental car business, guys.

00:04:06.000 I got something for y'all.

00:04:07.000 Let's get into it.

00:04:07.000 Let's go!

00:04:57.000 We're good to go.

00:05:11.000 Also, check us out on CastleClub.tv, guys.

00:05:12.000 That is where all the behind-the-scenes content is that you can't find anywhere else, whether it's us kicking out annoying-ass girls, giving you guys behind-the-scenes of what we're doing when we're foreign, or traveling, or whatever it may be.

00:05:20.000 It's on CastleClub.tv.

00:05:22.000 If you guys want to go ahead and get involved in a show, check us out on FNFSuperChat.com or RumbleRantIn your questions, either or.

00:05:28.000 I know some of you guys, it's difficult for you guys to RumbleRantIn, but we're live on all the platforms right now, Rumble, Twitch, Twitter.

00:05:34.000 Facebook, etc.

00:05:35.000 So make sure to check us out over there.

00:05:37.000 And yeah, man.

00:05:37.000 Go ahead and get involved because this is going to be a good one.

00:05:39.000 I actually got my notebook here.

00:05:40.000 I'm going to be taking some notes because this is not my expertise, guys.

00:05:43.000 So I'm going to turn this to Fresh and Jayden and talk about this mostly.

00:05:46.000 And I think...

00:05:47.000 Oh, yeah.

00:05:48.000 Check me out on X, guys.

00:05:49.000 Unplugged for X. I post on there all the time.

00:05:51.000 Yeah.

00:05:53.000 That talk to me was hilarious.

00:05:55.000 Okay, let's continue on.

00:05:56.000 Then check out my other one.

00:05:57.000 It's FedReacts, guys.

00:05:58.000 As you know, I break down criminal cases on here where I talk about different types of things.

00:06:03.000 Yesterday I did Chris Dorner.

00:06:05.000 The full episode is over on Rumble with the timestamps, guys.

00:06:07.000 I had to obviously cut a portion of it because the documentary that we were using got hit with a, you know, they suspended a stream.

00:06:15.000 It's very lame.

00:06:16.000 So, you know, it's all on Rumble, rumble.com slash FedReacts.

00:06:18.000 Check me out over there.

00:06:19.000 And guys, if you want to see our trips to the UK, Romania, and Vegas as well, to the vlog channel, we did a bunch of stuff during those trips.

00:06:27.000 Go check it out.

00:06:28.000 And as well, guys, if you want more access to millionaires who are successful, Zoom calls and masterminds, if you want to see your network, we're actually doing a Zoom call with a special guest this week as well.

00:06:37.000 I won't say who it is, but we had Andrew Tate on recently.

00:06:39.000 We had Justin Waller.

00:06:40.000 A bunch of creators here as well.

00:06:42.000 So go check it out.

00:06:43.000 Real value in there.

00:06:44.000 I'll see you guys in there.

00:06:45.000 And also, any updates?

00:06:49.000 Want to get to them?

00:06:50.000 This week's guess?

00:06:52.000 Oh, yeah, we got Rampage coming in on Friday.

00:06:55.000 That's going to be lit.

00:06:58.000 Rampage Jackson.

00:06:59.000 MMA champion, H.A.L. legend.

00:07:03.000 He's going to be here on Friday.

00:07:05.000 And then we got Jake Shippen on Monday.

00:07:08.000 So that's going to be lit.

00:07:10.000 You know, got some UFC legends coming through.

00:07:12.000 Jake might bring a special guest with him.

00:07:13.000 We'll see.

00:07:14.000 You know, he's very camera shy.

00:07:15.000 We'll see if we can get him on to talk as well.

00:07:17.000 Yeah.

00:07:17.000 But we got some big things coming for y'all in the next week, man.

00:07:21.000 So Rampage this Friday.

00:07:22.000 Jake Shields on Monday.

00:07:24.000 And then Wednesday, that's the what?

00:07:27.000 13th?

00:07:27.000 Yeah.

00:07:28.000 We got a debate with H3. Yep.

00:07:30.000 Isn't that crazy?

00:07:31.000 Yep.

00:07:31.000 We're going to debate H3 on the 13th.

00:07:33.000 We're opening new doors, man.

00:07:35.000 Yeah.

00:07:35.000 And then that's going to be on their channel.

00:07:37.000 Yeah.

00:07:38.000 Me and Ethan are going to go at it.

00:07:39.000 I guess he finally decided to not be so scared and have a discussion with me.

00:07:43.000 Yep.

00:07:43.000 And then on Friday, we got another special guest coming, which I'll reveal that later on.

00:07:48.000 But yeah.

00:07:49.000 Some big Ws.

00:07:49.000 Yeah, we got some big Ws for y'all, man, for all the haters that keep saying, oh, man, you guys don't beat up.

00:07:53.000 So it'll be a good time.

00:07:56.000 But.

00:07:56.000 Without further ado, welcome!

00:07:58.000 Jaden Bloom from Mercy Luxury, brother.

00:07:59.000 Welcome to the show.

00:08:00.000 Thank you, bro.

00:08:00.000 Thank you for having me.

00:08:01.000 How are you doing?

00:08:02.000 How are you guys?

00:08:03.000 Not bad, man.

00:08:04.000 It's Monday Monday, bro.

00:08:05.000 Let's get it.

00:08:05.000 Today's topic, car rental business.

00:08:07.000 So tell us about your childhood, how you came up, how you got into the car space.

00:08:10.000 For sure.

00:08:11.000 So long story short, I'm from Vancouver, Canada, born and raised.

00:08:14.000 My parents are from South Africa originally.

00:08:16.000 They immigrated to Canada in 1994.

00:08:18.000 I was born in 97.

00:08:20.000 They came with nothing.

00:08:21.000 My dad had a thousand dollars in his pocket when he came over there.

00:08:24.000 And I remember growing up, I mean, my dad was working three jobs at once, going to school.

00:08:28.000 When I was four or five years old, I remember so vividly seeing all of that.

00:08:31.000 So I saw him start from nothing, build, build, build, and he became very successful for himself.

00:08:36.000 So from a young age, man, I knew I was going to be an entrepreneur.

00:08:39.000 I've been around it my whole life.

00:08:40.000 Went to school.

00:08:41.000 Hated school.

00:08:42.000 Never did well.

00:08:43.000 Never got really good grades.

00:08:44.000 Went to college.

00:08:45.000 I have an arts degree.

00:08:46.000 I actually have a major in criminology.

00:08:48.000 Kind of interesting.

00:08:48.000 Oh, wow.

00:08:49.000 I didn't even know that.

00:08:49.000 Yeah.

00:08:50.000 So I was thinking about law school, and I've always been interested in the criminal stuff.

00:08:54.000 So I thought it was going to be kind of cool.

00:08:55.000 But yeah, man, I never really enjoyed school, and I've just been around an entrepreneur my whole life.

00:09:00.000 So I was like, yeah, I need to do something entrepreneurial.

00:09:02.000 That's where my passion is.

00:09:03.000 But I never knew what it was.

00:09:05.000 So, did all that.

00:09:06.000 So, why Florida and why cars?

00:09:09.000 So, Florida, I visited Miami in 2021 a little bit and just absolutely loved it down here.

00:09:13.000 The weather, how fast-paced it is.

00:09:17.000 The girls.

00:09:17.000 The girls, the cars.

00:09:19.000 But I just fell in love with it, man.

00:09:21.000 After COVID, Canada, I knew I needed to leave Canada.

00:09:24.000 Canada just used to be such a good country.

00:09:26.000 Our dollar used to be stronger than the U.S. dollar at one point.

00:09:28.000 Bro, it's so bad now, bro.

00:09:30.000 It is terrible.

00:09:31.000 COVID was kind of the tipping point for me.

00:09:33.000 So, COVID happened.

00:09:34.000 I actually left Canada during COVID. I went down to Mexico for two months because I was fully open.

00:09:39.000 Worked down there.

00:09:39.000 I was just living down there.

00:09:41.000 And just came down to Miami and loved it down here.

00:09:43.000 But cars, I've been a car guy my whole life.

00:09:45.000 My dad's a big car guy too.

00:09:46.000 So, like the entrepreneurial side, I saw the car side.

00:09:50.000 He never really had nice cars when I was younger, but same as his businesses getting better and better.

00:09:56.000 His cars started getting better and better.

00:09:58.000 Just always been super fascinated around that.

00:10:01.000 But yeah, just loved cars my whole life.

00:10:04.000 So we met a while back, actually from the valet downstairs.

00:10:07.000 And he was talking about this company that does rentals.

00:10:09.000 I'm like, who are these people?

00:10:10.000 I see them everywhere on Instagram, always on TikTok going viral.

00:10:13.000 And he's like, yo, I'll give the intro.

00:10:15.000 So then I met Connor and you.

00:10:16.000 And it was kind of like, you guys are killing it here in the game.

00:10:19.000 But when do you get into that business and start Mercy Luxury?

00:10:22.000 So I knew Miami was a really hot market for exotic car rentals.

00:10:25.000 And if I'm being honest with you, this wasn't a business.

00:10:26.000 I never thought this business was going to get to where it was now.

00:10:29.000 Connor and I started as a side hustle.

00:10:30.000 We had two cars.

00:10:31.000 I had a BMW on a lease.

00:10:33.000 That was my only personal car.

00:10:34.000 He had a BMW. We said, you know what?

00:10:36.000 Cars are hot in Miami.

00:10:37.000 People are renting all the time.

00:10:38.000 They sell them on Turo.

00:10:39.000 Let's see what happens.

00:10:40.000 And they're making good money.

00:10:40.000 You know, they're paying for themselves every single month.

00:10:42.000 Turo was sending us clients.

00:10:44.000 We weren't making a whole lot.

00:10:45.000 Very hard to build a business on Turo.

00:10:46.000 Real quick, what is Turo for the audience that doesn't know?

00:10:48.000 So it's like a rental car platform.

00:10:50.000 So you can list your personal car in Turo.

00:10:52.000 And they provide their own insurance.

00:10:53.000 They take a big cut.

00:10:54.000 So they take 25% of your revenue.

00:10:58.000 But they bring you clients.

00:11:00.000 So it's kind of like Airbnb.

00:11:01.000 You can post your car.

00:11:02.000 People can scroll.

00:11:02.000 They see your pricing.

00:11:03.000 They want to book it.

00:11:04.000 They book it.

00:11:05.000 Can you tell us the upside and downside of using Turo instead of your own company?

00:11:08.000 For sure.

00:11:09.000 So very hard to build your business on Turo.

00:11:10.000 There's a lot of competitions, very saturated.

00:11:13.000 So prices you can get in the private market, you can't get on Turo.

00:11:17.000 They're a lot, lot cheaper.

00:11:18.000 And then, like I said, yeah, Turo just has a lot of fees.

00:11:20.000 They take a pretty high percentage.

00:11:22.000 You can only pay credit card.

00:11:24.000 They have age restrictions on certain cars.

00:11:26.000 So Conor's M5, nobody could rent that under the age of 25.

00:11:29.000 And 90% of our demographic was under the age of 25.

00:11:32.000 So it really killed a large part of our potential clientele.

00:11:36.000 I think for any young guy that's coming up in the car scene, you start with a BMW. That's what you want to get to, at least.

00:11:41.000 100%.

00:11:41.000 They're easy cars to get into.

00:11:42.000 For me, my first lease was a BMW, $0 down, and I paid like $900 a month for it.

00:11:49.000 I was renting it on tour for $200 a day, and I was going on 15 days a month.

00:11:52.000 And just for the audience to understand, because first you didn't mention this, that you guys are actually business partners, and you guys do the car rental stuff together.

00:11:57.000 Yes.

00:11:58.000 Just for the audience to understand, because they're probably trying to figure out, like, wait, what's going on here?

00:12:01.000 So, yeah, Fresh and Jayden worked together, guys, with their car rental business.

00:12:05.000 Jayden started off, and then I think you brought Fresh on as a partner, if I'm not mistaken.

00:12:08.000 Is that pretty much what happened?

00:12:09.000 Yeah, so we connected in the valet, and Fresh has his Cullinan, and we just started kind of pushing that.

00:12:18.000 And yeah, I mean, he kind of saw the potential of the business.

00:12:20.000 He kind of saw the people that...

00:12:22.000 I was able to meet on a daily basis just from this business alone.

00:12:24.000 The networking is incredible.

00:12:26.000 I'm sure.

00:12:26.000 I'm into obviously going to events, making connections, but having the cars as an asset towards meeting people is key because, listen, you meet celebrities, you meet people that are business people that are from out of state, come into Florida, they want to have a nice car to drive around, and they're very well educated too as well.

00:12:41.000 So it's like you have a variety of people from cars alone.

00:12:44.000 100%.

00:12:44.000 My whole network down here is pretty much from Mercy Luxury.

00:12:47.000 I mean, Floyd Mayweather got invited to his private party over the weekend.

00:12:50.000 It was fun, by the way.

00:12:51.000 I know, I should have gone.

00:12:52.000 Yeah.

00:12:52.000 But that is somebody I would have never been able to get in touch with or in contact with without the cars.

00:12:57.000 Yeah.

00:12:58.000 He goes to you guys for rentals, right?

00:12:59.000 Yeah.

00:12:59.000 He's rented your car a few times.

00:13:01.000 Yeah.

00:13:01.000 And then Lunai.

00:13:02.000 Lunai, that's like one of my boys now.

00:13:04.000 He messages me almost on a daily basis.

00:13:06.000 Legendary.

00:13:07.000 Huge artist in the Hispanic scene.

00:13:11.000 Millions.

00:13:12.000 Yeah, 11 million on Instagram.

00:13:14.000 Girls love him. 0.91

00:13:15.000 Songs with Bad Bunny.

00:13:17.000 I had no idea how big it was until Mr.

00:13:18.000 Jones.

00:13:19.000 It was flooded with girls, bro.

00:13:20.000 I'm like, alright, this guy's a reggaeton artist.

00:13:22.000 Obviously, we got girls, but the extent of girls that were there, it was incredible.

00:13:25.000 Incredible.

00:13:26.000 The whole table was full of girls, bro. 1.00

00:13:27.000 Every single table.

00:13:28.000 Oh, and they're going crazy.

00:13:29.000 That's when it's a W. Yeah, bro.

00:13:30.000 Lining up, waiting to get a picture with him.

00:13:32.000 Yeah.

00:13:32.000 But, like, just because I gave him a car for a day, instantly plugged in with him, tapped in with him.

00:13:37.000 That's why I got Floyd Mayweather.

00:13:39.000 Like, Richie, his manager, literally knows everybody.

00:13:42.000 He'll send us whoever we want.

00:13:43.000 Yeah.

00:13:43.000 And we'll tell them, hey, bro, can you set this up?

00:13:45.000 We'll give him a car for free.

00:13:46.000 And he makes it happen.

00:13:47.000 So, I mean, just the cars alone.

00:13:49.000 Because I'm, you know, before I came to Miami, I had no personal brand, really.

00:13:52.000 People didn't know who I was.

00:13:53.000 But the cars have really given me an insane personal brand in such a short amount of time that I didn't even see coming.

00:13:59.000 Exactly.

00:13:59.000 I think for a regular person, if you can get access to these cars, even, for example, getting a loan or having a business itself, that door that opens up for you is incredible, bro.

00:14:07.000 I'm telling you.

00:14:08.000 It's amazing.

00:14:09.000 So, question for you, Jayden.

00:14:10.000 In terms of rental companies, what's the upsides and downsides of this business, for example, the benefits and downsides?

00:14:16.000 For sure.

00:14:17.000 So obviously, one of the benefits we touched on, the networking is by far number one for me.

00:14:21.000 I personally think this is a business I'm always going to keep around because of the people I get to meet and have access to.

00:14:28.000 Obviously, the upside, the cash flow is incredible.

00:14:30.000 You know, we've really perfected our business model, where now we don't really buy cars ourselves.

00:14:34.000 We just get investors to either give us cars or purchase cars for us.

00:14:37.000 And people think that's extremely hard to do.

00:14:39.000 It's the easiest part of the business.

00:14:41.000 People every single day are messaging me, hey, bro, I have these zeros.

00:14:43.000 I'm paying $4,000 a month.

00:14:45.000 Can you guys rent it out for me?

00:14:47.000 Hey, bro, I'm spending a bit of capital.

00:14:48.000 I'm interested in getting a vehicle.

00:14:49.000 What do you guys need?

00:14:50.000 I had an NBA player hit me up the other day.

00:14:52.000 He played in the NBA. He's playing in Tel Aviv right now.

00:14:55.000 But he's the exact same thing.

00:14:56.000 He said, bro, I've been watching you for a little bit.

00:14:57.000 I've seen you blow up.

00:14:59.000 I'm ready to get you a car.

00:15:00.000 So I think he's going to get us an S580 Maybach.

00:15:01.000 We're working on that right now.

00:15:03.000 But people all the time are asking me what cars we need.

00:15:05.000 And I'm actually closing the doors for investors because we have too many vehicles.

00:15:09.000 We're at about 35 cars.

00:15:11.000 And I would say like 23, 24 stay here at the SLS with us.

00:15:14.000 Okay.

00:15:15.000 So people will just be like, here's my car, send me money every month, and that's it.

00:15:18.000 And bro, you're being humble, man.

00:15:19.000 I would say right now, Mercy's like the top luxury rental car business in Miami.

00:15:23.000 100%.

00:15:23.000 I think so too.

00:15:24.000 That's known.

00:15:25.000 Yeah, for sure.

00:15:26.000 We're definitely up there with MPH Club and MVP. I think we have more cars than them.

00:15:29.000 We're definitely doing the same numbers revenue-wise.

00:15:32.000 And I'm working on a car this week.

00:15:33.000 Hopefully it's coming this week or next week.

00:15:34.000 That's just going to...

00:15:35.000 I mean, we're just going to take over with this car.

00:15:37.000 We're going to be the first ones in...

00:15:38.000 You don't want to say what it is?

00:15:40.000 No, I don't want to jinx it.

00:15:41.000 Let's say it's a very special Lamborghini.

00:15:43.000 Let's just say it's a Lambo the Fresh used to have. 1.00

00:15:45.000 Yeah.

00:15:45.000 So if you guys can put that together.

00:15:48.000 SVJ or something, probably.

00:15:49.000 SVJ. SVJ, yeah.

00:15:50.000 So there's only one company in the U.S. that had one, Royalty Exotics.

00:15:53.000 Shelter, Houston, by the way.

00:15:54.000 Houston, huge YouTuber, has like a million subs.

00:15:56.000 They're the only company in the United States that had an SVJ, and the marketing alone with that car is just incredible.

00:16:02.000 And that's kind of where I was touching on with the investors, and investors purchased that car for us.

00:16:06.000 $630,000, and he's going to put like $150,000 down and just, boom, rentals.

00:16:11.000 But that speaks to the faith and the belief behind the company because if that type of money is going into cars alone, the revenue share is amazing.

00:16:17.000 Cash flow.

00:16:18.000 Exactly.

00:16:18.000 He already has two cars with us that are doing really, really well.

00:16:21.000 So he's not even concerned about getting a car of that extent because he's already seeing...

00:16:25.000 He has two cars worth about $400,000.

00:16:27.000 They're out every single day.

00:16:29.000 So for him, it's like, you know what?

00:16:30.000 I already know these two cars are doing well.

00:16:32.000 I know this car's going to do well.

00:16:33.000 It's...

00:16:33.000 You know, there's no risk.

00:16:35.000 And insurance is always covered when the cars go out.

00:16:36.000 So there's really no risk to these cars. 0.61

00:16:38.000 Obviously, something happens to a car like that, it sucks.

00:16:41.000 You know, it's going to depreciate if it hits the car fax.

00:16:43.000 But we make up for that on the insurance side of things.

00:16:46.000 So we hit the insurance for depreciation, for loss of use because it's a rental, all these different things.

00:16:50.000 And we ask the company prior to make sure that the client's coverage is covered on all of those three things.

00:16:56.000 So you said when you started out, you had two BMWs.

00:16:58.000 What kind of BMWs were there?

00:17:00.000 It was an M2 competition and an M5 competition.

00:17:03.000 An M5, you said people couldn't rent it unless they were 25.

00:17:05.000 Exactly.

00:17:06.000 And that was on Turo, right?

00:17:07.000 Because I wrote down some of the stuff.

00:17:09.000 You said it's hard to profit.

00:17:13.000 Right?

00:17:13.000 Because there's high fees.

00:17:14.000 And then there's a bunch of stupid rules that get in the way. 0.99

00:17:17.000 And then what else? 0.99

00:17:19.000 And as you said, it's hard to build a business.

00:17:20.000 Hard to grow.

00:17:21.000 In general.

00:17:21.000 Because it's saturated.

00:17:24.000 Exactly.

00:17:25.000 With a bunch of people.

00:17:25.000 Exactly.

00:17:25.000 So the best way to go now, because I remember Turo was like a huge thing in like 2020.

00:17:28.000 Everyone and their mom was playing their car on Turo and making a bunch of money.

00:17:31.000 But I guess they buckled down on that and they started like charging more money, 25%.

00:17:35.000 Exactly.

00:17:36.000 I had a friend, actually, that made a massive business on Turo, right?

00:17:39.000 He did, I think, a bill in like five months.

00:17:41.000 The problem was support.

00:17:42.000 So he had an issue with the app not taking payments anymore, and he called support.

00:17:46.000 Bro, took him two months to respond to him, and he lost his business.

00:17:49.000 Think about it.

00:17:50.000 You're making money daily from the app.

00:17:51.000 They can't pay you anymore.

00:17:52.000 What do you do? 1.00

00:17:53.000 You're screwed. 1.00

00:17:54.000 Why couldn't they pay him? 1.00

00:17:55.000 Some issue with the programming or whatever.

00:17:57.000 And it has to be, you said, a credit card on there?

00:17:59.000 Yes, the only way to pay is credit card.

00:18:01.000 Whereas a lot of our clients now, they'll send us Zell's, Cash App, Cash, all sorts of different payment, you know?

00:18:06.000 Okay, so you guys are a lot more flexible in how you accept payments as well.

00:18:09.000 Way more flexible.

00:18:10.000 Way more flexible.

00:18:12.000 Interesting.

00:18:13.000 So if someone...

00:18:14.000 Okay, so I see that you guys are niched in the luxury car area, you know, exotic cars, luxury cars, because you could charge a way top dollar, right?

00:18:20.000 Exactly.

00:18:21.000 And assuming, like, since you guys charge so much per day, they probably only keep it for a few days at most, right?

00:18:25.000 Exactly.

00:18:25.000 And all they want to do is flex.

00:18:26.000 So they're not even putting a lot of miles on these cars as well.

00:18:28.000 Yeah.

00:18:28.000 You know?

00:18:29.000 They're driving in this local area.

00:18:31.000 Exactly.

00:18:31.000 And I hate it.

00:18:32.000 It's the Miami culture.

00:18:33.000 They want to go pull up to Poppy Steak, Valet.

00:18:34.000 Let's be honest, bro. 1.00

00:18:35.000 Some bad bitches. 1.00

00:18:36.000 And then that's it. 1.00

00:18:36.000 They get the car. 1.00

00:18:37.000 They pull it to, let's say, even Gecko.

00:18:40.000 They pull up Sexy Fish. 0.59

00:18:41.000 Yeah.

00:18:41.000 Park there.

00:18:42.000 Go to the club.

00:18:43.000 And go back home.

00:18:44.000 That's pretty much it, bro.

00:18:44.000 That's it.

00:18:45.000 So very low risk for you guys.

00:18:46.000 Yeah.

00:18:47.000 Exactly.

00:18:47.000 Interesting.

00:18:47.000 But to be honest, when I first started this business, like every business, right?

00:18:51.000 You go through the headaches.

00:18:52.000 You go through the ups and downs to really perfect your systems.

00:18:55.000 So, when we first started blowing up in the summer, the summer months are a little slow down here, so we're getting a lot of local clientele.

00:19:00.000 And down here, the local clientele are the guys that are going to cause the most issues.

00:19:04.000 So, we were getting guys renting URSS for two days, putting 700 miles on the car.

00:19:08.000 I mean...

00:19:10.000 I'll be transparent.

00:19:10.000 I had two situations where I had to...

00:19:13.000 Because we have kill switches in all of our cars.

00:19:14.000 I had to kill the engine and go pick the car up because I thought something shady was going on.

00:19:18.000 And you learn all these things, right?

00:19:20.000 You get your feet wet.

00:19:20.000 The only way to learn is through experience, I personally think.

00:19:23.000 So we experience all of that.

00:19:25.000 We learn to now.

00:19:26.000 We only have very solid clientele, like high-end, like black AMX kind of clientele, which is awesome.

00:19:31.000 So you guys are not renting out cars to just anybody anymore?

00:19:35.000 No.

00:19:35.000 We do thorough background checks.

00:19:36.000 We really make sure.

00:19:37.000 Even if somebody has a criminal history from years ago, we won't rent to them.

00:19:40.000 It's just not worth the headaches.

00:19:41.000 I had a guy that's pretty famous that wanted a car and he told him no because things weren't in order.

00:19:47.000 He had no insurance.

00:19:49.000 And that's another thing.

00:19:50.000 A lot of people do no insurance down here.

00:19:51.000 No insurance, no deposit.

00:19:51.000 But doesn't a rental company have insurance?

00:19:54.000 No.

00:19:55.000 So they need their own insurance.

00:19:56.000 Yeah.

00:19:56.000 So the way it works down here, which is how everybody does it, is it's super hard to get commercial fleet insurance for exotic cars.

00:20:01.000 That is another issue with Turo is I personally can't list a car with $75,000 in value.

00:20:06.000 They won't accept it.

00:20:07.000 Their insurance company that's on board with them won't cover any car with 75k.

00:20:12.000 So that's another thing I wanted to say.

00:20:13.000 Turo is great if you have one or two cars like a Tesla Model 3, you know, lower end cars that you're not using and you just want to make a little bit extra on the side on top of your current income.

00:20:22.000 Turo is great for that.

00:20:23.000 But if you want to build an actual business, like an actual fleet, an actual rental car company, Trill is not the place you want to do that on.

00:20:30.000 It's just too difficult and you will not make good money and you will not scale that quickly.

00:20:33.000 Profit margins are low, too many rules, saturated, yeah.

00:20:36.000 Exactly.

00:20:37.000 And then you can't use higher-end cars, which are the ones that you're able to demand the most top dollar for.

00:20:40.000 Exactly.

00:20:41.000 So let me ask you this then.

00:20:42.000 So if someone, because obviously people are watching this right now and they're like, well, damn, this is great for you guys, but I don't got fucking five Lamborghinis that I can rent out to Flay Medwether and his friends.

00:20:51.000 If someone wanted to get started, right, and they wanted to maybe rent some of the cars that they have, maybe they have an extra Jeep in the house somewhere, maybe they got a Jeep Compass, a Mercedes C-Class, you know, like these more entry-level luxury or regular type cars, and they wanted to kind of do this as a side hustle, how would they go about it?

00:21:07.000 So, obviously, what I recommend is start on Turo, because that's going to give you the best experience in terms of what goes into renting a car from A to Z. The goal is to get off Turo as quickly as possible.

00:21:16.000 So you want to get your feet wet on Turo, kind of learn the business, because the business off Turo is very similar, right?

00:21:20.000 Clients will either pick the car up, you'll go deliver, you'll make sure the car is good, you do their inspections.

00:21:25.000 Something that Turo does, which is really good for people starting out, is they make you take like 30 photos of the car, and they make you post it on the app.

00:21:31.000 Okay.

00:21:32.000 So it kind of teaches you, okay, what to look for in your before photos and after photos.

00:21:35.000 Because if you don't do your inspection properly and something happens on a rental, there's no way you can charge the client because you have no prior proof.

00:21:41.000 It's one of the examples where people picked up cars, but then when they brought them back, they were actually damaged.

00:21:48.000 Yeah, I've had some of my guys, because I have a full team now.

00:21:50.000 My business is pretty much automated.

00:21:51.000 I don't do anything but work with investors, marketing, grow the business.

00:21:55.000 The day-to-day operations are completely automated.

00:21:57.000 I have a full team that handles that.

00:21:59.000 And sometimes my guys will miss, you know, pictures.

00:22:01.000 Like, something will happen.

00:22:03.000 Something's so small, but there's no documentation.

00:22:05.000 We've got to come out of pocket, and it's a huge issue.

00:22:07.000 And it happens sometimes, you know?

00:22:08.000 For sure.

00:22:10.000 Like, Cullinan came back.

00:22:11.000 It was my other guys.

00:22:13.000 I have a great Cullinan.

00:22:15.000 Came back with scratches all on the front by the grill, on the wrap.

00:22:18.000 And to redo that wrap is going to cost at least $2,500.

00:22:21.000 And he didn't think to, like, document on top of the wrap because most of the damage that happens to these cars are rims.

00:22:27.000 Rims are basically the only thing that really happens. 0.99

00:22:29.000 Rim scuffs.

00:22:30.000 Rim scuffs.

00:22:31.000 If something like a fender bender were to happen, we'd just hit the insurance because the deposit wouldn't be able to cover that.

00:22:36.000 So I guess he kind of missed taking a video up top, and then we had to come out of pocket and fix the wrap.

00:22:41.000 So I would wager, it's like a checklist you've got to follow for each car, so you get the best out of getting the car back.

00:22:46.000 Exactly, because the last thing you want to do is having to come out of pocket on something that was missed.

00:22:49.000 So Turo kind of holds your hand and tells you where to take these photos specifically to avoid these issues.

00:22:53.000 Exactly.

00:22:54.000 So it's a great way to, I guess, get the training wheels in and figure out how to go about this from the beginning.

00:22:59.000 But you're saying, what would you say people should, how long should they stay on Turo before they say, you know what, it's time to transition out of there?

00:23:05.000 I'd say once you get above two, three cars, try and get off.

00:23:08.000 Especially if you have the goal of scaling and getting more cars.

00:23:11.000 Okay, so two to three, get off there.

00:23:14.000 Exactly.

00:23:14.000 And one thing we were doing to try and get off Turo is everybody that would rent from us, we would hit them privately and say, hey, just letting you know, we can rent to you privately.

00:23:22.000 We're growing our private rental car company.

00:23:24.000 You get hit with fees, we get hit with fees.

00:23:26.000 We can eliminate all those fees.

00:23:27.000 There's no age restrictions, et cetera, et cetera.

00:23:29.000 You get a better price.

00:23:30.000 Better price.

00:23:31.000 Exactly.

00:23:32.000 And we can charge a little bit more and still it's going to be cheaper than Turo.

00:23:35.000 Yeah.

00:23:35.000 So that's the beauty of it as well.

00:23:37.000 So, okay.

00:23:38.000 And then the other thing you mentioned as well with Turo, the benefits is like they kind of handle the marketing for you because you're able to advertise your car in their marketplace, which obviously has a lot of eyeballs.

00:23:46.000 But what you're able to do is convert those people over to your private side.

00:23:49.000 Exactly.

00:23:49.000 The nice thing with Tro 2 is obviously every rental, people will give it a five-star review, right?

00:23:54.000 Yeah.

00:23:54.000 So the more reviews you have, the higher they push it to the top.

00:23:57.000 So the more people that rent, the better reviews you have.

00:24:00.000 You're just going to be sitting at the top all day and people are going to rent from you all day.

00:24:03.000 Is it possible to have your Turo profile still active, which are two or three best cars there, while simultaneously still running your business on the side and, I guess, drawing people from Turo over to your private business so that you kind of get this influx of people always coming in because you're getting fresh clients?

00:24:18.000 100%.

00:24:18.000 And we still do that.

00:24:19.000 We have about five, six cars listed on Turo for the marketing purposes, for them to come off of Turo and rent from us privately.

00:24:25.000 And it happens quite often.

00:24:26.000 But the problem is you don't depend on the app.

00:24:28.000 If you depend on it solely and it messes up, you're screwed.

00:24:31.000 Gotcha. 0.51

00:24:31.000 So the goal is... 0.51

00:24:32.000 Get in with Turo.

00:24:34.000 Get your feet wet.

00:24:35.000 Get your two to three cars in there.

00:24:36.000 Once you expand past three, create obviously your side business and then try to pull as many people off of Turo to your private business.

00:24:43.000 Because the thing is that what I've noticed with car rental companies, kind of like with hotels and shit like that, If they come to you the first time and you give them a good experience, they're more than likely going to use you every single time, bro.

00:24:52.000 And they refer people to you as well.

00:24:54.000 Yes.

00:24:54.000 Exactly.

00:24:54.000 People don't like to go and try something new when it comes to hotels or whatever.

00:24:58.000 When they go to a place that they've been before, they always go to the same people.

00:25:01.000 So that would make sense that they would go and use you every time.

00:25:03.000 Mm-hmm.

00:25:04.000 And also, here's the benefit, too.

00:25:05.000 Let's say we build a relationship between myself and the company that rents me cars.

00:25:09.000 Well, guess what?

00:25:09.000 Let's say I want a car that's maybe higher priced.

00:25:11.000 Hey, bro, we're people.

00:25:12.000 We work together all the time.

00:25:14.000 Give me a discount.

00:25:14.000 You may get a discount.

00:25:15.000 You may get extra cars, whatever it may be, but that's the relationship you build that person and the company.

00:25:19.000 So let me ask you this then, because obviously you guys are doing this at a way higher level with the luxury stuff, but for the regular people that are watching this, they're going to want to know this.

00:25:25.000 What are some good entry-level cars that people can start with that might not necessarily be luxury, but they're able to appeal to a wide array of different people that might want to rent from them?

00:25:33.000 For sure.

00:25:33.000 Very good.

00:25:34.000 So I think perfect entry-level car is like a C63S. Yeah.

00:25:37.000 You get a 2019.

00:25:38.000 Yeah, okay.

00:25:39.000 Can you bring it on a screen?

00:25:40.000 Great car.

00:25:40.000 Yeah, let's pull it up on screen for people.

00:25:42.000 What car that is?

00:25:43.000 Great car.

00:25:43.000 I can get into it super easily.

00:25:45.000 I mean, they're like anywhere from $45k to $60k right now.

00:25:48.000 Convertible?

00:25:48.000 Yeah.

00:25:49.000 Convertible.

00:25:50.000 Convertible.

00:25:50.000 Mercedes C. Yeah.

00:25:51.000 And it's still such a nice car.

00:25:52.000 That car brand new goes for like $120k, $130k.

00:25:56.000 You know, something I actually threw this reel up yesterday.

00:25:58.000 It's actually kind of popping off right now.

00:26:00.000 Yeah.

00:26:00.000 Cool.

00:26:01.000 Mercedes C-Class.

00:26:02.000 Convertible.

00:26:03.000 Convertible.

00:26:03.000 Okay.

00:26:03.000 I've been telling people, look for cars that have already depreciated 70-80% because any maintenance that's going to come for that car isn't going to be the same as buying a brand new car and it depreciating 50k.

00:26:15.000 You might put 5-10k in maintenance into an older car, but you're going to lose 40-50k on a newer car, if that makes sense.

00:26:22.000 I can see why this would be a really good entry-level car.

00:26:25.000 Yeah, and we actually have one in the fleet.

00:26:27.000 Okay.

00:26:27.000 So payment on that's like $1,000 a month and that car goes out for $350, $400 a day.

00:26:32.000 So you're talking three days and you're in the green.

00:26:34.000 Imagine 15 days on that car.

00:26:36.000 Yeah.

00:26:36.000 So the car pays for itself and extra income.

00:26:38.000 Yeah.

00:26:38.000 Exactly.

00:26:39.000 And I can see why people would want it because it still has that nice luxury look.

00:26:43.000 It's still sleek, especially if you get a certain colorway maybe.

00:26:45.000 Exactly.

00:26:46.000 Actually, we had a student in my network that got an Aston Martin that's doing pretty well too as well.

00:26:51.000 Same, it's below 100k.

00:26:53.000 Below 100k.

00:26:53.000 It's a really good car.

00:26:54.000 G's Bond, by the way.

00:26:55.000 An Aston Martin under $100,000.

00:26:57.000 Yes.

00:26:57.000 Wow.

00:26:58.000 That's also kind of a little bit of a hack right now is they depreciated...

00:27:01.000 That's a gem, bro.

00:27:02.000 That's a gem.

00:27:02.000 I know.

00:27:02.000 That's a free game.

00:27:03.000 The audience might not even know that.

00:27:04.000 Like, yeah, you guys know that you could get an Aston Martin for under $100,000.

00:27:07.000 Aston Martin Vantage is one of the best, I think, entry-level cars for anybody.

00:27:11.000 It's a $200,000 car, brand new.

00:27:13.000 And speaking about Aston Martin Vantage, we're actually giving away an Aston Martin Vantage right now.

00:27:17.000 Yes, we are actually.

00:27:18.000 So, funny story.

00:27:19.000 I met these guys a couple months ago.

00:27:21.000 I've seen their business model.

00:27:22.000 I've seen how they operate.

00:27:23.000 Very honest guys with integrity.

00:27:25.000 And I was like, yo, bro, how do we give out to people that support us?

00:27:28.000 You know, freshman fit, mercy luxury.

00:27:30.000 And we decided to do a giveaway of one of our cars.

00:27:32.000 So, this is a clip, actually, we could play, if you don't mind, Bills, on the page whenever you're ready.

00:27:38.000 It's the real.

00:27:39.000 Yeah, the real, yeah. 1.00

00:27:41.000 Shit, man. 1.00

00:27:42.000 Yeah, I was shocked when you told me that you can get an ASMR for under $100,000. 1.00

00:27:46.000 I'm over here thinking, like, that's a $300,000 car.

00:27:48.000 You'd be surprised.

00:27:48.000 Bond, like, you can't get one of these.

00:27:50.000 You'd be surprised how many cars look expensive, but are really not.

00:27:53.000 Yeah.

00:27:54.000 Yeah.

00:27:55.000 Here we go.

00:27:57.000 Let's load in real quick.

00:28:15.000 We're back.

00:28:22.000 Wow.

00:28:24.000 Alright, I think we're back now.

00:28:26.000 Cool.

00:28:26.000 Oh, wait, wait.

00:28:28.000 We're on the after-hours template though, but it's okay.

00:28:30.000 Just run with the after-hours template.

00:28:31.000 Yeah.

00:28:32.000 You can't fix it?

00:28:33.000 Um...

00:28:34.000 I gotta try.

00:28:35.000 Yeah, see if you can.

00:28:36.000 Alright, yeah, guys, I think we're back.

00:28:39.000 Sorry about that, guys.

00:28:40.000 I don't know what the hell happened there.

00:28:41.000 That was so weird.

00:28:42.000 That was weird.

00:28:44.000 But, yeah, it was right after.

00:28:45.000 So, yeah, it was a raffle that you guys got going.

00:28:48.000 It's two bucks for them to join.

00:28:49.000 Yeah.

00:28:49.000 If they want to.

00:28:50.000 And link down below.

00:28:51.000 Yeah, if you guys want to.

00:28:52.000 But, yeah, so we're talking about entry-level cars for people that want to get into business.

00:28:55.000 Yeah, yeah, yeah.

00:28:55.000 So you mentioned a Mercedes C63. C63. C8's a great car, too.

00:28:59.000 The what?

00:29:00.000 The Corvette.

00:29:01.000 Awkward.

00:29:02.000 Okay.

00:29:02.000 Yeah, you can get like a 1LT, which is a really solid car for like 45, 50 grand.

00:29:07.000 That's a really hot car down here.

00:29:09.000 In any market, really, it's just a, it's like a, everybody calls it a poor man's Ferrari.

00:29:13.000 It's such a beautiful car for such a low ticket.

00:29:15.000 A lot of people like Corvettes.

00:29:16.000 Yeah.

00:29:16.000 It's like, you know, American muscle and everything else like that.

00:29:20.000 So, okay, so you would say, hey, if you want to start entry-level Corvette, Mercedes C, what if they, maybe they live in a more blue-collar area, people don't want to be as flashy, what are some cars that they can get that?

00:29:30.000 So cars that are always solid to you are like Suburbans, Escalades.

00:29:33.000 So I have a few students right now that live in like seasonal areas.

00:29:37.000 Boston, Chicago, New York City.

00:29:40.000 And cars that I'm telling them to go for as their first and second cars are exactly that.

00:29:45.000 Escalades, Suburbans, Tahos.

00:29:46.000 Because those cars are going to go out in the winter and the summer.

00:29:48.000 They're not seasonal dependent.

00:29:50.000 Whereas something like a C8, any sports car is going to be seasonal dependent.

00:29:53.000 That's why their Lambos, the Ferraris do so well in Miami is because you can drive them.

00:29:56.000 12 months a year.

00:29:57.000 And people come here with money to spend all the time.

00:30:01.000 Can we also mention about getting new cars and why you shouldn't buy a new car?

00:30:06.000 You made a video about that as well.

00:30:08.000 I did.

00:30:08.000 It's actually talking off right now a little bit.

00:30:10.000 But basically what I was saying is When you buy a new car, it's going to depreciate no matter what, right?

00:30:15.000 You buy a car at zero miles, even with 800 miles, it's depreciating, you know?

00:30:20.000 So when you buy a car that's already depreciated a lot, you're basically buying it almost at the end of its depreciation cycle.

00:30:26.000 So the only thing you've got to worry about is maintenance, but even then, if you have a good mechanic and you're not taking the car to the dealer, because the dealer's always going to rinse you.

00:30:32.000 If you have a good mechanic, everything's going to be super cheap.

00:30:35.000 Okay.

00:30:35.000 And I'm assuming you already have a mechanic in-house.

00:30:38.000 Everything.

00:30:38.000 Right.

00:30:39.000 So would it be fair to say that once you get your two to three cars and you're making some money, you probably want a mechanic on the payroll immediately?

00:30:44.000 That's the first thing you should get?

00:30:45.000 On the payroll or just a really solid relationship with a good mechanic.

00:30:49.000 Someone that you can go to.

00:30:50.000 Can we go through the actual checklist for getting a car?

00:30:53.000 Like, for example, trackers, insurance check.

00:30:56.000 For sure.

00:30:57.000 So I'll give you an example.

00:30:58.000 I have an investor who gives us a car.

00:31:00.000 First thing we do is get trackers in that car.

00:31:03.000 So we usually put two GPS trackers and an engine kill switch.

00:31:06.000 Like I said, we've only had to use a kill switch maybe two, three times.

00:31:10.000 Nothing's really ever happened, just I thought something shady was going on, so I used it.

00:31:14.000 You thought they were going to steal the car or something?

00:31:15.000 Exactly.

00:31:16.000 I kind of got an inside scoop in that something was going on.

00:31:19.000 Where was that when you killed it?

00:31:21.000 Fort Lauderdale.

00:31:22.000 Was it supposed to be up there?

00:31:23.000 It was.

00:31:24.000 But, I mean, yeah, there's a lot of sketchy areas out there, too, in Fort Lauderdale.

00:31:29.000 But there's been horror stories of people renting cars, or renting out cars to people, and they drive to, like, Georgia or somewhere far away, and you never see that car. 0.99

00:31:37.000 Pop Smoke did that shit. 0.99

00:31:38.000 There you go. 1.00

00:31:39.000 You drove it from, like...

00:31:40.000 You see that?

00:31:40.000 Yeah, he shipped it out.

00:31:41.000 People don't know that.

00:31:42.000 He got indicted for that.

00:31:43.000 He rented a Wraith for a music video, and he shipped it from L.A. to New York.

00:31:49.000 Yeah.

00:31:51.000 Savagery, bro.

00:31:52.000 Savage.

00:31:52.000 But that's what we do.

00:31:53.000 I mean, we do our...

00:31:54.000 That's a nightmare for you guys.

00:31:55.000 Yeah.

00:31:55.000 We do our verification checks, like, from A to Z. Like, we have every single piece of documentation necessary from that person.

00:32:02.000 So if they did something like that, I mean, we have their driver's license, their everything.

00:32:07.000 Okay.

00:32:07.000 You know, to really, like, go after them and make sure we get compensated.

00:32:10.000 Yeah.

00:32:11.000 Because people might be like, oh, bro, I got a car, bro.

00:32:13.000 You're a friend.

00:32:13.000 I'll give it to you.

00:32:14.000 Bro, you don't know what a person's going to do, what they might be about.

00:32:17.000 So this is actually really important.

00:32:18.000 So for some of you guys that want to start this, so, okay, so you acquire a new car, right?

00:32:23.000 And you're like, you know what?

00:32:24.000 I want to start this.

00:32:24.000 And even if you put it on tour or whatever it may be, do they need to do this even if they're on tour?

00:32:27.000 Or do you suggest that they do this?

00:32:29.000 Yeah, of course.

00:32:29.000 Yeah, they should do it even on Turo.

00:32:31.000 Okay.

00:32:31.000 Just to be safe.

00:32:31.000 Yeah, so does Turo require you to do this?

00:32:34.000 No.

00:32:34.000 Put these things in?

00:32:34.000 Okay.

00:32:35.000 But you should for your own safety.

00:32:36.000 Okay, so you said two trackers, a kill switch.

00:32:39.000 What else?

00:32:40.000 That's pretty much it.

00:32:41.000 Those two things?

00:32:42.000 Okay.

00:32:42.000 And it runs you about $1,000 for that.

00:32:44.000 Oh, that's not bad.

00:32:45.000 That's not bad.

00:32:45.000 That's pretty much your only startup cost.

00:32:47.000 That's your upfront cost.

00:32:47.000 Okay.

00:32:48.000 Yeah.

00:32:48.000 To throw it in the car.

00:32:50.000 Any certain brands that they should get as far as trackers or certain kill switches that they should get?

00:32:53.000 If they're local in Miami, I use iTrack.

00:32:55.000 iTrack's the best.

00:32:56.000 They're based out in Hollywood.

00:32:59.000 Shelton Louise?

00:33:00.000 Yeah, Louise. 0.93

00:33:00.000 Awesome guy. 0.93

00:33:01.000 Awesome guy.

00:33:01.000 He's probably done over 40 cars of mine.

00:33:04.000 Made him a lot of money.

00:33:05.000 But yeah, he's solid.

00:33:06.000 The best trackers.

00:33:07.000 He really installs them properly.

00:33:09.000 I've had a few instances where I could tell people were looking for the trackers and they couldn't find them.

00:33:14.000 Oh, and he's putting two of them.

00:33:15.000 So if they find one, there's another one.

00:33:17.000 Exactly. 0.99

00:33:18.000 Oh, shit. 1.00

00:33:19.000 And then the kill switch, and it costs, you said, about a thousand bucks to get this all done? 1.00

00:33:23.000 About a thousand bucks.

00:33:24.000 Okay, and iTrack, I'm assuming they put the kill switch in there too.

00:33:26.000 They do.

00:33:26.000 They do all of it.

00:33:27.000 Yeah, so they have different levels.

00:33:28.000 Level two comes with two trackers and a kill switch.

00:33:30.000 Level one is just like a tracker.

00:33:32.000 Okay.

00:33:32.000 But they have all the way up to level five.

00:33:33.000 So depending on what your risk tolerance is...

00:33:36.000 Like, I've been doing this for so long, and I know I have such good clientele.

00:33:39.000 If I don't feel like I need to do a level 5 or a level 4, I'm good with a level 2.

00:33:42.000 But if you're just starting out, and you're building your clientele, and, you know, you have no prior experience, definitely get a level 4 or level 5.

00:33:49.000 Or if you're in a higher crime area, maybe you're in a Detroit, would it be better for you to get like a...

00:33:52.000 Exactly.

00:33:53.000 That's a good point, too.

00:33:54.000 If you're in a higher crime area, for sure.

00:33:55.000 Look at the point of view of the actual renter.

00:33:57.000 Okay, this guy's green.

00:33:58.000 He doesn't know too much about business.

00:34:00.000 Alright, bet.

00:34:00.000 This is a Rolls Royce or a Mercedes.

00:34:03.000 Oh, I can take this car and just dip.

00:34:04.000 They would, if they could.

00:34:06.000 Free car.

00:34:07.000 It's crazy.

00:34:08.000 Some of my competitors, I'm not going to name them, but I've heard of them doing like insane verifications.

00:34:12.000 One of the big guys out here, what they'll do is, they have a showroom, so they get a lot of walk-ins.

00:34:16.000 They will judge people based on if their fingernails are clean or dirty.

00:34:20.000 And if their fingernails are dirty, they won't rent to them.

00:34:21.000 Yeah.

00:34:22.000 It's actually good to say, hey man, I agree with that, bro.

00:34:24.000 You know why? 0.99

00:34:25.000 Because people that got dirty fingernails, they be doing some bullshit a lot of times. 0.99

00:34:27.000 And they won't take care of the car. 0.99

00:34:28.000 They don't take care of themselves, why would they take care of the car?

00:34:31.000 Yeah.

00:34:31.000 So, I mean, people do, like, they go to, like, extreme extents to really verify their needs of their clients.

00:34:36.000 And there's a scam where girls come in to rent a car. 1.00

00:34:39.000 Now, obviously speaking, if a girl's coming in to rent the car, she wants maybe like a Porsche or something like chill, but if you get a Lamborghini for yourself, it's like- Red flag, right? 0.97

00:34:47.000 It's like, why are you there by yourself for a Lamborghini?

00:34:49.000 Yeah.

00:34:49.000 You know what I'm saying?

00:34:50.000 Like a Ferrari is like, huh?

00:34:51.000 You know about cars?

00:34:52.000 Yeah.

00:34:52.000 I hate to say it, when females rent, it's a little bit of a red flag because I would say 50% of the time they're renting for their boyfriend who doesn't have insurance.

00:34:59.000 Yes.

00:34:59.000 Or a dude's agony.

00:35:01.000 Or a P-I-M-P saying, yo, go get this car for me. 0.64

00:35:04.000 And then they run off to Georgia, and forget that your car's gone.

00:35:07.000 I mean, you trackers all the time.

00:35:08.000 Okay.

00:35:08.000 Yeah, my guy, Louis, who works for me, he had to go get a car from Atlanta one time because they drove it all the way to Atlanta.

00:35:15.000 Wow.

00:35:16.000 He had to fly there and get that car back.

00:35:18.000 Not one of my cars.

00:35:18.000 He's been doing this for years.

00:35:20.000 Yeah.

00:35:20.000 He's been doing this for seven, eight years.

00:35:21.000 It was the other guy he was working for.

00:35:24.000 But yeah, he's had some crazy stories.

00:35:26.000 Pulling up to people at warehouses, 20 stolen cars in that warehouse, including one of his.

00:35:31.000 They all have guns, like crazy stuff.

00:35:33.000 So, okay.

00:35:34.000 So we talked about once you procure the car, how to set it up for rental.

00:35:37.000 How about getting the car in the first place?

00:35:38.000 Should people go the financing route?

00:35:39.000 Should they go the leasing route?

00:35:41.000 How should they go about getting the car in the first place?

00:35:44.000 For sure.

00:35:44.000 So financing is awesome because you're going to build your credit.

00:35:47.000 You're going to build your history with the bank.

00:35:49.000 That's what I would recommend.

00:35:50.000 There's a lot of leasing companies that will give you cars for very little down, great terms and everything.

00:35:55.000 They're going to be a little more strict when it comes to rentals.

00:35:57.000 You have to be more careful.

00:35:59.000 Obviously, you don't disclose that you're going to rent it, right?

00:36:01.000 No.

00:36:02.000 Procure the car and get the fuck out of here. 0.97

00:36:03.000 Even in the contracts, the states, you know, this car is advertised, even advertised for rent, gone. 0.99

00:36:09.000 So we actually ran.

00:36:09.000 So this is another reason why I started working with investors.

00:36:11.000 We were buying cars ourselves for the first, you know, five, six months because I had to build proof of concept.

00:36:17.000 Nobody's just going to give me a Lamborghini to rent out.

00:36:18.000 Of course.

00:36:19.000 And we bought a year of $65,000 down.

00:36:21.000 Bank found out we were renting the car and they came to the SLS with a repo order.

00:36:25.000 What?

00:36:26.000 And they came here with a repo order.

00:36:28.000 They said, hey, first they were being weird about it.

00:36:29.000 They're like, we work for Mercy Luxury.

00:36:31.000 I'm here to change a tire.

00:36:32.000 And Arturo downstairs who runs the valet called me and said, hey, there's a guy here and he says he works for Mercy.

00:36:38.000 I thought somebody was trying to steal our car.

00:36:39.000 I thought it was a client or somebody that heard of us, you know, being situated out here, was trying to steal one of our urs.

00:36:44.000 So I said, don't give him the car.

00:36:46.000 Don't give him the car.

00:36:46.000 And then he finally showed the repo order.

00:36:48.000 And I said, do not give him the car.

00:36:50.000 So he left because he couldn't get up to the garage.

00:36:52.000 Called the dealer that we worked with.

00:36:54.000 I said, hey, what's going on?

00:36:55.000 This is the situation.

00:36:56.000 They're like, oh, you guys are good.

00:36:57.000 Don't worry.

00:36:58.000 I'm going to talk to them on Monday.

00:36:59.000 I'm going to tell them everything's good, etc.

00:37:01.000 Monday comes around.

00:37:02.000 We didn't rent that car for the weekend.

00:37:04.000 The dealer calls the bank.

00:37:06.000 Apparently, they lied.

00:37:07.000 They said, oh yeah, everything's good, don't worry.

00:37:09.000 Called us, oh, you guys are good.

00:37:10.000 Rent the car.

00:37:11.000 Car goes out on a rental.

00:37:12.000 Guy's eating lunch in South Beach.

00:37:14.000 Tow truck comes, takes the car. 1.00

00:37:15.000 Oh, shit. 1.00

00:37:16.000 They had that bitch under surveillance, probably. 1.00

00:37:18.000 Yep. 1.00

00:37:18.000 Wow. 1.00

00:37:19.000 So that's an issue, even myself now, because of the name that I have in this business.

00:37:23.000 Yeah.

00:37:23.000 Bank looks into me, they're going to see rentals everywhere.

00:37:25.000 My Instagram, my everything, right?

00:37:27.000 And they do their due diligence.

00:37:28.000 Of course.

00:37:29.000 The small leasing companies always do their due diligence.

00:37:31.000 The bigger banks, not too, too much.

00:37:34.000 Leasing companies are so good to work with because they'll approve you for anything.

00:37:37.000 You can have five cards with them.

00:37:39.000 Fresh has such a good relationship.

00:37:40.000 With one of the companies that he works with, they'll approve him for anything, whenever.

00:37:45.000 Whereas traditional banks, it's a lot harder.

00:37:48.000 It's so credit dependent.

00:37:49.000 And depending on what your debt to income ratio is, that matters a lot too.

00:37:53.000 With these leasing companies, it doesn't matter.

00:37:54.000 It's all relationship based.

00:37:55.000 Okay.

00:37:56.000 So, to get your business off the ground, it might be easier to go the leasing route.

00:38:00.000 Because if you go the financing route, they can always come back and...

00:38:03.000 I mean, would you...

00:38:04.000 Are there some banks that allow you to rent it or do most of them say no?

00:38:07.000 I think it depends on the person and what they can actually qualify for.

00:38:10.000 That's going to determine because...

00:38:11.000 Are any banks going to be okay?

00:38:12.000 Realistically speaking, are any banks going to be okay with you renting it out?

00:38:14.000 Yeah, like the bigger banks, if you get a loan from Chase, for example, they have so many loans that they're not going to look into.

00:38:20.000 They're not going to keep on top of it.

00:38:22.000 Leasing companies put trackers in their cars.

00:38:24.000 So the cars a lot of times can't leave the state of Florida.

00:38:26.000 They really wash these cars because they only have 250 cars out on the road.

00:38:30.000 It's very easy for them to monitor every single car.

00:38:32.000 So you just got to be careful.

00:38:34.000 We have a lot of cars with leasing companies.

00:38:35.000 Yeah.

00:38:36.000 And we just don't post a license place.

00:38:38.000 We don't post a VIN. We don't correlate that car with rentals whatsoever.

00:38:42.000 A lot of times we'll wrap the car.

00:38:43.000 We'll change the color.

00:38:44.000 Okay.

00:38:45.000 So all of those things really helped us.

00:38:46.000 Even on a lease?

00:38:47.000 Yep. 1.00

00:38:47.000 Damn. 1.00

00:38:47.000 Yeah, we have a lot of cars with leases. 1.00

00:38:49.000 Okay.

00:38:50.000 And we kind of know how to navigate around and we've never had an issue since.

00:38:53.000 Okay.

00:38:53.000 So leases are way more flexible if you want to get into this, if you're procuring a car strictly for this business, I guess.

00:38:59.000 For sure.

00:38:59.000 Versus financing.

00:39:00.000 Well, that makes sense. 0.99

00:39:01.000 The bank is going to come in and be like, yo, what the fuck? 1.00

00:39:02.000 You're renting this thing out. 0.99

00:39:03.000 We're going to...

00:39:04.000 Because that's their money.

00:39:05.000 Exactly.

00:39:06.000 And the leasing company, too.

00:39:07.000 Okay.

00:39:07.000 So you just got to be a little bit careful.

00:39:09.000 Trackers.

00:39:09.000 We got insurance checks.

00:39:11.000 We got walk around in the car.

00:39:13.000 Anything else you need to do at the very beginning?

00:39:15.000 Criminal background check.

00:39:16.000 That too?

00:39:16.000 For sure.

00:39:17.000 So how should they go about doing that?

00:39:18.000 Because obviously, right, you're not going to have access like NCIC and run a real criminal background check like the police do unless you have some connect.

00:39:26.000 There's some great like public databases that you can pay monthly subscription for that will give you that person's history from like years ago.

00:39:33.000 I can't remember what the name is on the top of my head, but there's one we pay like $3 a month for and it pulls up every piece of information on that person that you can imagine.

00:39:41.000 And it's really saved us from rentals.

00:39:43.000 I mean, I've had people Try and rent a Culloden with Grand Theft Auto from a year ago for $200,000. 0.99

00:39:48.000 Oh, shit. 0.99

00:39:48.000 You know? 0.99

00:39:49.000 Okay.

00:39:49.000 Like, crazy stuff.

00:39:50.000 What are some non-starters that, like, if you see...

00:39:52.000 I mean, obviously Grand Theft Auto, that's a no-brainer.

00:39:55.000 Grand Theft Auto, 100%.

00:39:56.000 Any, like, burglary, robbery?

00:39:57.000 Okay.

00:39:58.000 Anything with theft.

00:39:59.000 Anything with theft.

00:40:00.000 You guys are like, no.

00:40:01.000 Exactly.

00:40:04.000 Violent crimes?

00:40:06.000 It depends.

00:40:07.000 If it's from years ago, then it'll be okay.

00:40:09.000 We still rent.

00:40:10.000 We've had people fleeing from the police, driving without a driver's license, stuff like that.

00:40:15.000 If it's from years ago, we kind of let it slide.

00:40:19.000 But even then, a lot of the times, it's not even worth the risk. 1.00

00:40:23.000 Shit. 1.00

00:40:23.000 Okay. 1.00

00:40:24.000 So you really got to like judge a situation, you know, by a situation.

00:40:26.000 Because a lot of the times, we work with a lot of brokers.

00:40:28.000 That's kind of one of the secrets too, is brokers send us a ton of clients.

00:40:32.000 I mean, we're renting cars Monday to Sunday, like where people are sitting on their cars throughout the week.

00:40:38.000 Because the week gets slow.

00:40:39.000 Yeah.

00:40:39.000 But we rent cars like crazy.

00:40:41.000 And a lot of the times we'd be like, look, this guy has a bit of a history, but he's my boy.

00:40:44.000 Like I vouch for him.

00:40:45.000 He's good.

00:40:45.000 Okay.

00:40:45.000 And if we have a good relationship with that broker, we'll say, okay, we trust you.

00:40:48.000 Because he's got other people too, probably that are fine.

00:40:51.000 Exactly.

00:40:51.000 Okay.

00:40:52.000 Exactly.

00:40:52.000 Yeah, because I mean some people do like turn around, right?

00:40:54.000 Like they did some criminal dumb shit when they were younger and then they get older and they're like, oh, I changed my new leaf. 1.00

00:40:59.000 I got a business now, I'm an entrepreneur, I got shit to lose. 1.00

00:41:01.000 Exactly, people change, right? 0.98

00:41:02.000 So from years ago, we let it slide, but if everything's kind of recent, you know, they have all these charges from like six months ago, eight months ago, three months ago, it's just a little bit.

00:41:11.000 And you said your problematic clients are always the ones that are here.

00:41:15.000 From Miami.

00:41:16.000 Always.

00:41:16.000 Not the people from out of state?

00:41:17.000 No, because they come, they fly in, they take the car out, they kind of just do the Miami experience, and then they leave.

00:41:22.000 Two, three days later.

00:41:23.000 You know they're not going to steal the car because they're not from here. 0.97

00:41:25.000 They're not going to try any weird stuff, you know?

00:41:28.000 But the locals, it's like, why are you trying to rent a Cullinan on a Tuesday when nothing's happening?

00:41:31.000 Yeah.

00:41:32.000 It's a little weird, right?

00:41:33.000 You're going to go drop 3K for two days on a Cullinan just for the fun of it?

00:41:37.000 It's just a little weird, right?

00:41:38.000 Okay.

00:41:39.000 But it's the Miami culture.

00:41:40.000 People just want to flex 24-7.

00:41:42.000 Interesting.

00:41:43.000 That's true.

00:41:43.000 We got some chatter?

00:41:44.000 Yeah, yeah.

00:41:45.000 So guys, if you got any questions, get them in.

00:41:47.000 I mean, that was like a huge, you know, 101 on car rentals.

00:41:52.000 The real talk.

00:41:53.000 David.

00:41:54.000 Hey, FNF. Hey, Jaden.

00:41:55.000 It's me, David.

00:41:56.000 I'm from the Mentorship.

00:41:58.000 Finally, this collab is happening.

00:42:00.000 Y'all changed my life to real.

00:42:01.000 I'm 19 years old.

00:42:02.000 Credit score went from 60 to 80 to 730.

00:42:04.000 Thanks, you guys.

00:42:05.000 P.S. Fresh.

00:42:05.000 When are you hopping on the call, man?

00:42:07.000 I'd love to talk to you, bro.

00:42:09.000 A hundred dollars.

00:42:10.000 Let me ask you a question.

00:42:12.000 Cause I have a rule with my real estate and my tenants, right?

00:42:15.000 So like typically I want my tenants to be making 60 grand per year, bare minimum.

00:42:19.000 And then now I want them to have like a 720 credit score higher. 0.99

00:42:23.000 Cause I've realized no matter how much money they make, if they got under 700, they still do stupid shit and they're not responsible. 1.00

00:42:27.000 They don't pay the rent on time. 0.99

00:42:28.000 What are your requirements typically when you're dealing with a client?

00:42:31.000 Let's assume that they didn't come to you from a broker and don't come with a good, you know, with a verification.

00:42:36.000 What are your requirements?

00:42:37.000 What are the credit scores that you're looking for and how much they earn per year?

00:42:40.000 When they come and rent from me?

00:42:41.000 Yeah.

00:42:42.000 So we don't really look into that, to be honest.

00:42:44.000 Okay.

00:42:44.000 For us, it's just about, do you have a criminal background?

00:42:47.000 Okay.

00:42:47.000 Do you have proper insurance?

00:42:49.000 Okay.

00:42:49.000 What cars are you driving?

00:42:50.000 We really look at the cars they're driving on a daily basis because sometimes we'll get a 2002 Honda Civic trying to rent a Cullinan, you know?

00:42:55.000 So we really look at the car on policy.

00:42:57.000 Oh, you look at the cars that they have.

00:42:58.000 Oh, for sure.

00:42:59.000 Okay.

00:42:59.000 For sure.

00:43:00.000 Because we want to also, a lot of these cars come with, you know, you need driving experience.

00:43:03.000 If you're jumping into a hurricane, it's a lot of power for somebody that's never experienced that kind of power.

00:43:09.000 Okay.

00:43:10.000 So you guys will actually look at the cars under their name.

00:43:12.000 Oh, yeah.

00:43:12.000 Okay.

00:43:13.000 Yeah.

00:43:13.000 What are some red flags that you'll say, like, you know what?

00:43:15.000 No, we're not going to make this happen.

00:43:17.000 Since you guys don't look into, or do you do look into credit too or no?

00:43:20.000 No.

00:43:20.000 Credit, income, not relevant too much.

00:43:23.000 No.

00:43:23.000 You look into what they have and then...

00:43:25.000 Where they're from, how long they're planning to get the car, what kind of car they're trying to take.

00:43:29.000 Exactly.

00:43:29.000 A lot of the times we'll get clients that want to pay cash, you know, 5,000 cash.

00:43:34.000 And for us, it's like if they're paying, we don't really...

00:43:35.000 It's not our job to figure out what they do for a living.

00:43:39.000 If they have the money and they're good on insurance, then we rent to them, you know?

00:43:43.000 So we don't really look into credit score.

00:43:44.000 We don't look into what they do for a living and their income.

00:43:47.000 It's just valid insurance, which is number one, number one.

00:43:50.000 And then criminal background.

00:43:53.000 And what type of insurance should they have?

00:43:55.000 Will you guys take a liability only type of insurance? 0.98

00:43:57.000 Like the bare minimum shit that most people have? 0.94

00:43:59.000 They need to have comprehensive and collision insurance. 0.99

00:44:01.000 Okay.

00:44:02.000 Yeah, they need to have full coverage, comprehensive collision.

00:44:05.000 And that is kind of what we need for them to be able to rent from us.

00:44:09.000 And they need to have rental coverage.

00:44:10.000 So those are the three things.

00:44:11.000 Okay, so the regular liability that some people have wouldn't work.

00:44:15.000 Especially with the cars that you're trying to get.

00:44:16.000 Exactly.

00:44:17.000 That you're renting out.

00:44:18.000 What if someone was a beginner, should they also practice that as well, where they need full coverage?

00:44:23.000 100%.

00:44:24.000 And these cars, they can have their own personal insurance on the car.

00:44:26.000 They can have the bare minimum insurance.

00:44:28.000 I had a guy, he never wanted to drive the car, threw the car on the fleet.

00:44:31.000 He had storage insurance on the car.

00:44:33.000 So he's paying like $100 a month for that car, insurance-wise.

00:44:36.000 But because we don't use the owner's insurance, it doesn't matter.

00:44:40.000 We always use the client's insurance.

00:44:41.000 So if they're starting out their own rental car company, they can throw any type of insurance they want on that car personally, because the only time their personal insurance is going to be on the line is if they're driving that car themselves.

00:44:51.000 Gotcha.

00:44:51.000 But if they don't, then it's on the person, which is why you require them to have insurance.

00:44:55.000 It's got to be full coverage.

00:44:56.000 Exactly.

00:44:56.000 It's not liability only.

00:44:56.000 Yeah.

00:44:59.000 Because the one major risk that everybody always asks about is what if somebody dies in that car, right?

00:45:05.000 If somebody gets into an accident and God forbid somebody on the other side dies, I mean that family can sue the registered owner of that vehicle and it's a huge issue, right?

00:45:14.000 So if you're personally on that car that is a liability run versus an LLC where you're not going to be personally liable. 0.99

00:45:20.000 Shit. 0.99

00:45:21.000 So step one, get the car. 1.00

00:45:22.000 That's some free game right there.

00:45:22.000 Yeah, right there.

00:45:23.000 So step one, get the car.

00:45:25.000 As soon as you get the car and you throw it on Turo, create an LLC and put that car under that LLC immediately.

00:45:29.000 Exactly.

00:45:30.000 And also build business credit.

00:45:31.000 They have insurance.

00:45:32.000 Okay.

00:45:33.000 Interesting.

00:45:33.000 And they can sign as a guarantor for their business, which is cool, and it'll still be in that LLC. Yeah.

00:45:42.000 Yeah.

00:45:46.000 Yeah.

00:45:58.000 They got blacked at 11, decided to drive home at 5 a.m., and they wrapped the car around a pole.

00:46:03.000 Three out of the four died, and they tried to sue him personally, and it was a huge issue.

00:46:08.000 He ended up winning because he had all of his contracts in place.

00:46:13.000 He had everything showing they were speeding at 4 a.m., they're at 11, all these different things, right?

00:46:18.000 Because he had trackers, the same trackers I used to see in his car.

00:46:20.000 So he was good on that end.

00:46:22.000 But yeah, that's an extreme case, but you never want to be left not knowing what to do in that situation if you ever get into that situation.

00:46:30.000 I think it's good to mention, whenever you get a car to rent out, think about these things before you even do it.

00:46:34.000 The precautions you have to take because it is a lot of responsibility and you're liable for it if you're not careful.

00:46:39.000 For sure.

00:46:40.000 Also, I always wanted to build an Airbnb business, or I was always interested in e-com.

00:46:46.000 I wanted to build something that was somewhat passive.

00:46:48.000 But for me, the cars, I always was just driven towards the cars.

00:46:50.000 I've always loved cars my whole life, and I've always dreamt of being able to have access to multiple Lamborghinis, Ferraris, Rolls Royces at any moment in time, and also make money from these cars.

00:46:59.000 This business truly...

00:47:01.000 It's a passion.

00:47:01.000 It's a passion, and it truly changed my life.

00:47:04.000 Mercy, we're doing six figures a month right now, pretty consistently.

00:47:07.000 Nice.

00:47:07.000 Over 35 cars, a lot of investors every day wanting to throw cars in the fleet.

00:47:11.000 So not to worry about this repo bullshit because you have people that literally have their cars on the fleet with you.

00:47:15.000 That's the trick. 0.95

00:47:16.000 See, that's the trick right there.

00:47:17.000 Because there's no way the bank can link John Doe with Mercy Luxury when John Doe works a 9-to-5, does this and that.

00:47:22.000 There's so many moving parts that when you get an investor on board, you're risk-free from getting that car ever repoed.

00:47:30.000 Wow.

00:47:30.000 And there's no liability.

00:47:31.000 I have no overhead.

00:47:32.000 The monthly payment's on them.

00:47:33.000 The insurance is on them.

00:47:34.000 All I do is rent the car and I take 50%.

00:47:36.000 50-50 split.

00:47:37.000 And a lot of these guys are in love with you if you can even just break even on their monthly payment.

00:47:42.000 Yeah.

00:47:42.000 If you can break even and they're not making any money on top, I mean, they're ecstatic, right?

00:47:46.000 Yeah.

00:47:47.000 A URUS, for example, runs about $4K a month.

00:47:49.000 Yep.

00:47:49.000 We make about $10K to $12K a month on average on a URUS. Wow.

00:47:52.000 So I'm making $5K, $6K with no liability.

00:47:55.000 They're making $5K, $6K, $1K, $2K profit, and they're ecstatic.

00:47:59.000 Yeah.

00:48:00.000 Imagine you have a car that, let's say, you barely drive or you bought, you don't want any more, but to get out the car is a lot of money.

00:48:06.000 You can rent it out, make money from it, pay for itself, and chill.

00:48:10.000 You even get another car.

00:48:12.000 Yeah, and I mean, you don't have to deal with the, because he handles all the rentals.

00:48:16.000 He has the clients and everything else.

00:48:17.000 The issue of buying a car, especially when you buy a brand new car, you're upside down in the car, the money you drove off the lot, which means you're going to buy the car, lose like 40, 50K, and then you keep losing money each and every single day.

00:48:27.000 But if you rent it out, you're making money and more.

00:48:30.000 So pretty good model.

00:48:32.000 Exactly.

00:48:32.000 It's kind of like we're kind of showing people that you can actually get these cars for free.

00:48:36.000 You can get a Lamborghini.

00:48:38.000 Maybe you wouldn't be able to afford it if you're paying for it every single month.

00:48:41.000 But with this model that we have, these cars literally pay for themselves every single month, plus put money in your pocket.

00:48:46.000 And the number one issue people have, wait, bro, what if the car gets totaled?

00:48:51.000 Well, guess what?

00:48:52.000 You get paid out for the value of the car.

00:48:54.000 Yep.

00:48:54.000 Get another one.

00:48:55.000 And if you really know, because we have attorneys that handle everything for us, we've only had to open like three, four claims, very small claims.

00:49:00.000 But one of the claims with the open was on a Eurus.

00:49:03.000 One of the clients damaged the front end.

00:49:05.000 She was fully covered, of course, so we went after her insurance.

00:49:08.000 We paid $4,000 out of pocket to get the car fixed and back on the road the next day.

00:49:11.000 And insurance ended up paying us $35,000 in three months.

00:49:15.000 Wow.

00:49:15.000 Yeah, crazy, bro.

00:49:16.000 See, I'll profit at $31,000.

00:49:17.000 It takes time, but once you get the money...

00:49:20.000 Takes about 90 days.

00:49:21.000 But because we go after depreciation, we go after loss of use, we go after all these different things, and our attorneys handle everything for us from A to Z. They take 10%, but they handle everything.

00:49:28.000 I mean, we always get top dollar on these claims.

00:49:31.000 And if you know what you're doing when it comes to insurance, you can make more money on the insurance side than the actual rental revenue, too.

00:49:37.000 So there's really no liabilities when it comes to the rental game.

00:49:40.000 Legally, of course.

00:49:41.000 Legally, of course, yeah.

00:49:43.000 Don't fake anything.

00:49:45.000 For sure.

00:49:46.000 People don't realize they can go over it. 0.95

00:49:47.000 That's the thing with these cars is that you're able to claim that because these cars are so goddamn expensive. 0.91

00:49:52.000 Well, think about it. 0.85

00:49:53.000 An accident on a Eurus, you're losing $25,000 in value.

00:49:55.000 You have to be compensated for that, right?

00:49:57.000 And people don't actually realize that you can go after that on the client's insurance.

00:50:02.000 So that's the kind of things we learned throughout the business.

00:50:05.000 Because these luxury cars, their value diminishes significantly if there's an accident.

00:50:09.000 So you're able to recoup that through the...

00:50:11.000 Oh, I didn't know that.

00:50:11.000 Why do you think when someone hits an exotic car, they run?

00:50:14.000 Because, nigga, if you get caught with that insurance hit, it's a lot, bro.

00:50:17.000 It's a lot. 0.77

00:50:18.000 Okay.

00:50:19.000 It's a lot, bro.

00:50:20.000 Does that happen?

00:50:20.000 I mean, I don't have an exotic, but if they hit an exotic, they're running away from the city most of the time?

00:50:29.000 I've never had it in a situation like that, but I mean if you hit one of those exotics, it's scary because you know you're better. 0.54

00:50:36.000 Your insurance is gonna get hit like crazy.

00:50:38.000 Your premiums are probably gonna triple.

00:50:39.000 They might drop you.

00:50:40.000 They'll probably drop you.

00:50:41.000 To be honest with you, they might drop you off the insurance.

00:50:43.000 So it's tough.

00:50:44.000 That makes sense.

00:50:45.000 Yeah.

00:50:45.000 That makes sense because you're going to pay a bunch of money for that.

00:50:47.000 All right.

00:50:48.000 What else?

00:50:49.000 We got some more here.

00:50:50.000 Nav says, best way to purchase luxury or supercar.

00:50:53.000 Finance, lease, cash.

00:50:54.000 We covered that just now.

00:50:54.000 We covered that, but I mean, they're bringing up cash, used or new.

00:50:58.000 What do you think?

00:50:58.000 So cash is always the best because then you're not going to get hit with the interest, right?

00:51:01.000 Because if you get a loan from the bank...

00:51:03.000 Let's just say it's 10% interest at even 60K. You're paying an extra 6K that you didn't have to if you bought that car cash.

00:51:09.000 And then you can do whatever you want because you own that car in full.

00:51:11.000 So if you can afford to, it's the best way to go.

00:51:15.000 Best way to go if you're cool tying up that much capital.

00:51:18.000 So obviously, have a lot of cash that you don't mind tying up 60-50K. Don't tie up 50-60K if you have 70K in the bank.

00:51:25.000 And if you purchase the right car, you could make that money back fairly quickly.

00:51:28.000 Exactly.

00:51:29.000 Some of these cars are doing over 100% ROI. Yep.

00:51:33.000 Okay.

00:51:33.000 I mean, I have heard the Mercedes C classes is a fantastic car.

00:51:36.000 Fantastic.

00:51:37.000 Audi A4s, Mercedes Cs, BMW 3 Series.

00:51:41.000 Because they're like entry-level luxury, but this is what a lot of people like.

00:51:45.000 Exactly.

00:51:45.000 And those cars usually go out for like multi-multi-day rentals.

00:51:48.000 So you could rent a 3 Series BMW. For a week?

00:51:50.000 Yeah, $50 a day.

00:51:52.000 You're paying $300 a month.

00:51:54.000 You have a couple of those, you're making 10k a month.

00:51:56.000 You know the best part about this business?

00:51:57.000 You make money right now.

00:51:59.000 You don't wait for it.

00:52:00.000 It's not like, oh, I gotta wait a month.

00:52:01.000 It's like, no.

00:52:02.000 Right there and then, you get paid for it.

00:52:03.000 Let me ask you this then.

00:52:05.000 Let's say someone's watching this right now.

00:52:07.000 They got a little bit of money and they want to be earning 10k a month somewhat passively through a car rental model, right?

00:52:13.000 They might not be here in Miami. 0.99

00:52:14.000 They might be out in the middle of nowhere, fucking Indiana. 0.99

00:52:16.000 Who knows, right? 0.99

00:52:18.000 How should they go about, kind of step by step, what should they do?

00:52:22.000 What cars do you think they should get?

00:52:25.000 What should they do with the car, et cetera?

00:52:27.000 How can they get themselves from going zero to 10K a month passively with the side business?

00:52:32.000 For sure.

00:52:32.000 So if you're in a city like Indiana, And you're not quite sure what cars are going to do well there, and you don't want to just take a little guess.

00:52:39.000 It's a seasonal place.

00:52:40.000 Honestly, go in Turo.

00:52:42.000 See what cars have the most trips.

00:52:44.000 See what cars have the highest reviews.

00:52:46.000 In your zip code.

00:52:47.000 In your zip code.

00:52:47.000 And kind of base off what cars do well off of that.

00:52:51.000 You can even search up private rental companies, but a city like Indiana probably won't have many, or if, any private exotic car rental companies.

00:52:57.000 Probably not.

00:52:57.000 No, but it's always good to do your research.

00:52:59.000 So to kind of figure out our pricing, we kind of took a...

00:53:02.000 We went over through every single exotic car of the company down here in Miami.

00:53:05.000 We looked at all their pricing and we took the average.

00:53:07.000 And then from there, we kind of just like...

00:53:09.000 So look at the market first.

00:53:10.000 Exactly.

00:53:11.000 And then procure cars that are doing well in your area.

00:53:13.000 Exactly.

00:53:13.000 And I know you gave some like a Tahoe, Suburbans, etc.

00:53:16.000 a pretty safe color.

00:53:17.000 Black? 0.74

00:53:18.000 Black. 0.93

00:53:18.000 Black is nice and safe, right? 0.93

00:53:19.000 Yeah, for those cars, black. 0.90

00:53:20.000 But for the exotics, flashy always.

00:53:22.000 Okay.

00:53:24.000 Put them on zero first.

00:53:25.000 Start renting out.

00:53:26.000 Get yourself, I guess, situated on there.

00:53:30.000 Make some money.

00:53:30.000 And then once you get, you said, two to three or above, start weaning it off and doing it privately, right?

00:53:36.000 And what these guys will find too is, you know, every car you kind of get, It goes up in value, up in value.

00:53:42.000 Very rarely you're ever going to get more cars that are kind of going below value, right?

00:53:45.000 So for us, we started two BMWs, we got a Corvette, we got an Escalade, then we got a Maybach SUV, we got a Bentley, a Urus, and then boom, it just started, you know, Huracans, Ferrari F8s, Cullinans.

00:53:55.000 Start small.

00:53:56.000 Start small.

00:53:57.000 Yeah, everybody gets super excited as well, right?

00:53:59.000 They're like, oh, I want to get a Lambo right away. 1.00

00:54:00.000 I want to rent that.

00:54:01.000 I want to drive it for free.

00:54:02.000 You got to understand the game first.

00:54:03.000 So start small.

00:54:04.000 Don't break the bank.

00:54:05.000 Don't put yourself in a high stress situation by getting a car that you might not be able to afford for more than six months.

00:54:11.000 Get a car that you're very comfortable with.

00:54:12.000 If that car sits for three months, be comfortable with that payment.

00:54:15.000 Pretend like you're not renting it out.

00:54:16.000 Okay.

00:54:17.000 And then from there, you know, just...

00:54:18.000 That's a good tip.

00:54:19.000 Yeah, just because you got to build experience, right?

00:54:21.000 You got to build business experience.

00:54:22.000 Don't be relying upon that vehicle to make you money immediately.

00:54:24.000 Exactly.

00:54:25.000 So we didn't touch those high-end cars, those high, high-payment cars, until we really knew what we were doing.

00:54:30.000 Brokers were sending us a lot of clients.

00:54:31.000 We really knew that we were going to be good with the insurance.

00:54:33.000 Then we felt comfortable.

00:54:34.000 Okay, let's go get a Eurus.

00:54:35.000 Let's go get this.

00:54:36.000 Okay. 1.00

00:54:37.000 Shit. 1.00

00:54:37.000 Alright. 1.00

00:54:38.000 You guys are getting a master class, man, in how to go ahead and start a rental car business.

00:54:42.000 Omar goes, Fresh, you got it?

00:54:44.000 He's asking you, I think, this question.

00:54:45.000 I can read it, though.

00:54:46.000 Fresh, can you explain why you shouldn't buy a new car?

00:54:48.000 Because I want to get a 2023 or a 2024 manual Supra, since they come in manual, but you say not to buy it new, so should I just buy one that's already used instead of a new?

00:55:03.000 Got a credit score of 745 from you guys.

00:55:05.000 So good job on credit score.

00:55:07.000 We kind of covered it earlier, but just to make it more apparent here, whenever you buy a new car from a dealership, bro, the moment you drive off the lot, you're losing value.

00:55:13.000 So that alone should tell you not to do it, but secondly, bro, the same car you're going to buy new, someone already has it, doesn't want it anymore, you're saving money on depreciation, and it's the same car.

00:55:23.000 Will people want to even rent Supras to give him an option, I guess?

00:55:27.000 To be honest, a manual Supra, you should keep that for yourself.

00:55:29.000 Personal use.

00:55:30.000 Renting out is not a good idea.

00:55:32.000 That's a personal car you should drive.

00:55:34.000 100%.

00:55:34.000 Because it's manual?

00:55:36.000 Well, it's more collector.

00:55:37.000 It is manual, but it's also like...

00:55:38.000 Very niche.

00:55:39.000 Supra is like, if you're a car guy, you know what it is.

00:55:42.000 Yeah, yeah, yeah.

00:55:42.000 The other person's like, what is this?

00:55:44.000 Yeah, tuner car type dudes. 0.99

00:55:46.000 Need for speed ass. 1.00

00:55:47.000 Like, you know. 1.00

00:55:47.000 Yeah. 1.00

00:55:48.000 Exactly.

00:55:48.000 Tokyo Drift type dudes.

00:55:49.000 Exactly.

00:55:49.000 JDM, that type of vibe.

00:55:51.000 Like a car that I would love to get for the free...

00:55:53.000 With the 911 GT3 RS. That car is so sick.

00:55:58.000 It's badass.

00:55:58.000 But it's not going to rent.

00:55:59.000 It's so niche.

00:56:01.000 You got to be a car guy to want to drive a car like that.

00:56:03.000 And car guys aren't going to rent cars, right?

00:56:06.000 Very rarely.

00:56:07.000 Yeah.

00:56:07.000 Very rarely.

00:56:08.000 If they rent a car, it's because they're not home and they're in a different state and they want to just drive the same car.

00:56:13.000 Yeah.

00:56:14.000 I don't know.

00:56:15.000 I've had a few guys come and rent because they wanted to test drive the car for a few days.

00:56:19.000 Because a lot of the times, if you go test drive a car at the dealership, you're only driving around the block.

00:56:22.000 It's so hard to know if that's a car that you like.

00:56:24.000 So they'll come, they'll rent a car for three days, they'll really figure out if they enjoy the car, and then they'll go and buy that car.

00:56:29.000 So I've had a lot of guys actually do that with cars that I have.

00:56:31.000 Here's a quick tip.

00:56:31.000 I tell my guys in the CEO network, I tell them, listen guys, you want a specific car, rent it first, drive it to your favorite spot, take it home, sleep on it, wake up in the morning, drive it again.

00:56:43.000 You're going to experience a car for real.

00:56:44.000 You go to a dealership like you just said, drive it down the block, you don't really feel in the car.

00:56:48.000 Like when you got your G-Wagon, right?

00:56:49.000 We drove to Cario in the G-Wagon that we had in the fleet.

00:56:52.000 Yeah.

00:56:53.000 So fresh drove it for a good hour, hour and a little bit, and he really, you know, said, you know, this is a car I want to buy.

00:56:59.000 I've been in it for long enough.

00:57:00.000 I know this car drives really well.

00:57:02.000 Instead of just going to Cario and driving around the block.

00:57:04.000 Yo, it's funny because I thought G-Wagon was like a girl car. 1.00

00:57:07.000 I never wanted a G-Wagon in my life.

00:57:08.000 But driving his G-Wagon, I'm like, bro, this is just nice.

00:57:11.000 And then I'll tell you this, man.

00:57:12.000 The girl's favorite car is a G-Wagon.

00:57:14.000 Forget a Lambo. 1.00

00:57:15.000 Forget a Ferrari.

00:57:16.000 Forget a Rolls Royce.

00:57:18.000 G-Wagon?

00:57:19.000 Hands down, bro.

00:57:20.000 And you get the tax write-off.

00:57:21.000 Yes.

00:57:22.000 Which is huge.

00:57:23.000 So Tahoe's escalates.

00:57:26.000 All tax write-offs.

00:57:27.000 So if anyone's making good money and you want to rent out a car like that, plus get the tax write-off, I mean, it's a double whammy right there.

00:57:35.000 Okay.

00:57:36.000 So, yeah.

00:57:37.000 So, for him, get it for yourself, get it used, and you won't be able to rent it out more than likely.

00:57:41.000 Yeah.

00:57:42.000 Especially with the manual.

00:57:43.000 Okay.

00:57:43.000 Yo, Mercy, what's good?

00:57:45.000 Got a question for you.

00:57:47.000 Have you slash do you ever rent high horsepower American muscle cars like Hellcats, Camaros, Mustangs?

00:57:54.000 I see a lot of renters rent those and make a lot of money doing so.

00:57:57.000 How is your luck demand for cars like that?

00:58:00.000 That's a good-ass question.

00:58:01.000 American muscle, what do you think?

00:58:02.000 Too high risk for me.

00:58:03.000 You know, those Hellcats have 700, 800 horsepower, the rear-wheel drive.

00:58:06.000 You put your foot down in that and it is, I mean, you're going sideways, right?

00:58:10.000 Another thing is those cars are so easy to steal.

00:58:13.000 The Hellcats are so easy to steal the highest theft car in the United States.

00:58:16.000 So those are cars I stay away from.

00:58:18.000 I don't want to deal with that.

00:58:19.000 It also attracts a lot of headache clients that just want to...

00:58:22.000 I know what that means.

00:58:23.000 You want to say it?

00:58:24.000 Hey. 1.00

00:58:25.000 They're going to steal your shit, man. 1.00

00:58:27.000 I'll say it. 1.00

00:58:28.000 Don't worry about it.

00:58:29.000 I'll say it, man.

00:58:31.000 Yeah, Hellcats and Trackhawks. 1.00

00:58:32.000 Yeah, they try to bump that shit while they steal your shit. 1.00

00:58:34.000 No, for real. 1.00

00:58:35.000 But if, you know, it can make, it's a high-risk, high-reward car.

00:58:38.000 Very sought after.

00:58:39.000 People want to drive it.

00:58:40.000 I said it.

00:58:41.000 Jada didn't say it.

00:58:41.000 There you go.

00:58:42.000 I said it. 0.65

00:58:43.000 You niggas are going to steal the Hellcats, man. 1.00

00:58:44.000 That's why. 0.94

00:58:45.000 Yo, I'm not gonna lie, bro.

00:58:47.000 I will not be seen in a Hellcat.

00:58:50.000 I don't know.

00:58:51.000 Hostinco does it. 1.00

00:58:51.000 I can't do that shit, bro. 1.00

00:58:53.000 No, why not? 1.00

00:58:54.000 Nigga, that's so hot nigga shit, bro. 1.00

00:58:55.000 What do you mean, bro? 1.00

00:58:59.000 Mopar?

00:58:59.000 Hell, though, bro.

00:59:01.000 I gotta be classy, man.

00:59:02.000 Okay.

00:59:02.000 So those are cars that have high theft rates, just not worth the risk, I guess.

00:59:05.000 Exactly.

00:59:06.000 And just a lot of power, too, so something could go wrong if somebody doesn't...

00:59:08.000 Can you charge quite a bit of money on them, though, if someone did want to go and have this American muscle fleet?

00:59:12.000 Still not as much as, obviously, those exotics, but you could charge probably, like, I could probably get maybe $400, $500 a day for a Hellcat.

00:59:18.000 Okay.

00:59:18.000 Something like that, which is pretty good because your payment's still going to be, like, $1,300 a month.

00:59:22.000 Okay.

00:59:23.000 Alright.

00:59:24.000 What do we got here?

00:59:26.000 Big things.

00:59:27.000 This is an awesome live.

00:59:29.000 I am actually going to start rentals, so this was clutch.

00:59:32.000 This guy seems like a good dude, modern and fresh.

00:59:34.000 You guys continuously knock it out of the park.

00:59:36.000 Again, I appreciate you, brothers.

00:59:37.000 I'm trying to give you guys value, bro.

00:59:38.000 Help you guys with starting side business.

00:59:40.000 Hell, with the tips that he gave you all today, you guys can have a regular job.

00:59:43.000 You might have a car right now that you don't drive. 0.98

00:59:44.000 You might have a fucking Jeep Compass or some shit like that on the side that you can easily rent right now. 0.98

00:59:49.000 Every car can be monetized. 0.99

00:59:50.000 Every single car.

00:59:52.000 So, and he's giving you guys some game.

00:59:54.000 Like, hey, put two trackers in it.

00:59:55.000 Put a kill switch in it.

00:59:56.000 You know, make sure that you have insurance on it, etc.

00:59:58.000 Like, all these things that, like, people wouldn't think to do.

01:00:00.000 You can turn a current liability into an asset just from one choice.

01:00:04.000 Some of you guys right now watching this, a lot of you guys, they say the average American household has, like, two cars, etc.

01:00:09.000 Some of y'all have a car right now that you barely drive.

01:00:12.000 Put it on tour and make some money, man.

01:00:13.000 Might as well.

01:00:14.000 Uh...

01:00:15.000 Trevon, hey fellas, well this business model will work well in the DMV area or will it work well?

01:00:21.000 And you mentioned installing trackers and kill switches on the car.

01:00:25.000 What companies in that area do you recommend perform these upgrades and how would you vet them for quality work?

01:00:31.000 So it will work in the DMV. Jayden talked about that.

01:00:33.000 If you're in an area that's the climate changes, you're safer with, you said, Suburbans and...

01:00:39.000 Yeah, just cars that aren't seasonal dependent.

01:00:41.000 So, like, no Mustang convertibles, no C8s.

01:00:43.000 Cars that, you know, you can put some winter tires on and it's going to be good in the winter.

01:00:46.000 Yeah.

01:00:47.000 Our Mercedes M-Class, right?

01:00:49.000 That's the SUV one, if I'm not mistaken.

01:00:51.000 Yep.

01:00:51.000 Or the GLE is a good car.

01:00:54.000 GLE, yep.

01:00:54.000 That's a great car.

01:00:55.000 Cheap, too.

01:00:56.000 Yep.

01:00:56.000 If you want to be, like, luxury, but also SUV. And then he said, will it work well?

01:00:59.000 And then, I don't know if you guys have a Kinect over in the DMV area that does this with the...

01:01:03.000 He's asking for...

01:01:04.000 With the kill switches and...

01:01:07.000 Yeah, iTrack's not too far.

01:01:09.000 Oh, there's iTrack in that area?

01:01:11.000 I think, I believe.

01:01:12.000 In DC? Oh, in DC. In the DMV area.

01:01:14.000 Oh, got you.

01:01:15.000 DC, Maryland, Virginia.

01:01:17.000 I'd have to look into it, but I'm sure I could find some companies out there that would perform good work for sure.

01:01:24.000 There's got to be one or two.

01:01:25.000 Basically, the takeaway is put two trackers in there and one kill switch is pretty much like golden.

01:01:30.000 For sure.

01:01:31.000 Because they're going to try to find the tracker, one tracker.

01:01:33.000 If they do find it...

01:01:34.000 It's just bound to happen.

01:01:35.000 And you kind of have to play that game.

01:01:36.000 Even if it never happens, that's great.

01:01:38.000 But you have to have that mindset that these things are going to happen eventually.

01:01:41.000 It's not a matter of if but when.

01:01:42.000 That's kind of how I look at things, right?

01:01:44.000 But think about it.

01:01:44.000 Airbnb, it's not a matter of if but when.

01:01:46.000 Tenet throws a massive party and damages the whole unit.

01:01:49.000 You know, these things just... 1.00

01:01:50.000 It just takes one idiot to fuck it up. 1.00

01:01:51.000 And you'll thank God that you had it there in the first place. 1.00

01:01:53.000 Exactly.

01:01:54.000 And I like the idea of two trackers. 0.99

01:01:56.000 When I worked for the government back in the day and we had crooks and we'd follow them, we would put two trackers on this shit too. 0.99

01:01:59.000 Yep, because they cut one and they think they're good. 0.99

01:02:00.000 Because they find one and they think they're good.

01:02:02.000 But you'd have a second one on there.

01:02:03.000 Yep.

01:02:05.000 That's exactly why we put two.

01:02:06.000 How about you put three or four?

01:02:07.000 Oh, then you're good, good.

01:02:08.000 It's overkill.

01:02:09.000 Yeah, it's overkill.

01:02:10.000 But hey, man, I'm not getting away.

01:02:12.000 Nav goes, thoughts on car market?

01:02:14.000 Would it be a good time to get into luxury slash supercar or wait for personal use?

01:02:19.000 No, I think cars are pretty cheap right now.

01:02:21.000 You can get some really nice cars for a pretty low price.

01:02:24.000 Yes.

01:02:25.000 I think right now is a great time to buy.

01:02:27.000 Interest rates are coming down just a little bit too.

01:02:29.000 Is the key to just not buy new?

01:02:31.000 Don't buy new.

01:02:31.000 No, don't buy new.

01:02:32.000 Don't buy new.

01:02:32.000 Because you're just going to lose so much money driving that off the lot and racking up miles.

01:02:36.000 I mean, you're talking like you put 3,000 miles in a brand new car, it's going down 20%, 15% versus a car that already has a decent amount of miles but not enough to give it issues.

01:02:46.000 I mean, you're not going to lose much money.

01:02:47.000 Let me ask you this.

01:02:48.000 This is a little bit more of a nuanced question. 0.99

01:02:49.000 Since dealerships are desperate to get these fucking cars off the lot, right, and they just want to make a sale, would you be able to negotiate something where, look, I'm going to lease this car, but I plan to put it on tour and I want this shit in the contract? 0.99

01:02:59.000 I wouldn't do that. 1.00

01:03:00.000 Or would they say, fuck no. 1.00

01:03:01.000 I wouldn't do that. 1.00

01:03:02.000 They think rentals are too high liability.

01:03:04.000 That's why a lot of these companies, they just don't want to deal with the headaches that may come.

01:03:08.000 Because they understand a lot of people, they don't know what they're doing.

01:03:10.000 This is how people get wiped out in the business.

01:03:12.000 They think they're covered on insurance.

01:03:14.000 They're not asking the right questions.

01:03:15.000 They get into an accident.

01:03:15.000 Boom, they're 50k out of pocket.

01:03:17.000 And it wipes them out completely.

01:03:18.000 It happens down here all the time.

01:03:20.000 A lot of people start rental car companies every single year.

01:03:22.000 And they only last one year.

01:03:24.000 They fail.

01:03:24.000 If that.

01:03:25.000 Because they just can't.

01:03:26.000 They fail.

01:03:27.000 They don't know what they're doing.

01:03:28.000 They deal with all these issues.

01:03:29.000 They're like, I'm out. 0.98

01:03:29.000 Is that the biggest fuck-up? 0.98

01:03:30.000 Like, not validating that the person that they're renting you has insurance? 0.98

01:03:33.000 A hundred percent.

01:03:34.000 Also, you need, like, I want to say things in place.

01:03:37.000 Like, systems.

01:03:38.000 So you can track each thing that's happening.

01:03:39.000 Because it's a fast-moving business, bro.

01:03:41.000 You start with one car.

01:03:43.000 Get two, three, four.

01:03:44.000 Get too big.

01:03:44.000 Before you know it...

01:03:45.000 Done.

01:03:46.000 Exactly.

01:03:47.000 I mean, with one car, I could already see how that would be time consuming.

01:03:49.000 Yeah.

01:03:49.000 With one car.

01:03:50.000 Maintaining it.

01:03:51.000 Getting it to that person.

01:03:52.000 Getting it back.

01:03:53.000 You need a staff.

01:03:54.000 You need a team.

01:03:55.000 You need a lot.

01:03:55.000 Okay.

01:03:58.000 What car insurance do you recommend?

01:03:59.000 This is from Daniel.

01:04:00.000 So, personal doesn't really matter.

01:04:02.000 Kind of what I said before.

01:04:03.000 I use State Farm for my cars.

01:04:04.000 I like State Farm for my personal insurance.

01:04:07.000 But insurances that I look for when it comes to rentals, really good insurances for rentals.

01:04:11.000 That the person's going to have.

01:04:13.000 Yeah, Geico's good, State Farm.

01:04:14.000 I don't like Progressive.

01:04:16.000 Progressive's the only company that only covers the value of the vehicle on policy.

01:04:19.000 So if somebody's trying to rent a Urus and they only have a Ford Explorer, they only cover 20K. Oh, shit. 0.99

01:04:28.000 And people don't know that. 1.00

01:04:29.000 If you talk to an agent, they're going to say they're covered, but they won't tell you that.

01:04:32.000 And now, you're out of pocket if something happens because it's on their policy. 0.99

01:04:36.000 Damn. 0.99

01:04:37.000 Well, that's the other importance of knowing what the fuck they drive too, right? 1.00

01:04:40.000 Yup. 0.99

01:04:40.000 And a lot of the times, these agents, they'll just say yes and they don't even know what the hell they're saying yes to. 0.99

01:04:46.000 They're not trained well when it comes to the rental side of the insurance, so you always gotta ask the right questions.

01:04:53.000 You gotta ask them a couple times over.

01:04:54.000 That's a gem right there.

01:04:55.000 So when your person's renting a car, progressive, be wary.

01:05:00.000 That it's gonna be based on what the person drives, not what your car that you're renting them is.

01:05:05.000 Yep, and another piece of free game is record the calls.

01:05:08.000 We record every single call.

01:05:11.000 So the first thing is- We all call insurance.

01:05:12.000 Yeah, call them and verify.

01:05:13.000 Yep.

01:05:13.000 So we say, hey, we're calling from a recorded line, calling from Mercy Luxury Car Rentals.

01:05:19.000 And right then and there, the minute you say you're calling from a recorded line, something happens and they don't want to cover you, you have that recorded line, the agent said they were covered, you asked the right questions, you are winning that 10 times out of 10.

01:05:29.000 Wow.

01:05:29.000 And I can imagine you give that to your lawyer that's on retainer that's fighting this for you.

01:05:33.000 Here you go. 0.97

01:05:33.000 Big ass smile on their face. 0.97

01:05:35.000 Fucking insurance, yeah. 1.00

01:05:35.000 Exactly. 1.00

01:05:36.000 You know, hey, here's the fucking phone call where they said that it's covered. 0.99

01:05:38.000 Exactly. 0.99

01:05:39.000 Yeah?

01:05:39.000 Case closed.

01:05:41.000 But if you don't say you're calling from a quarter line, you can't use it in court.

01:05:43.000 Of course, yeah, yeah, yeah.

01:05:44.000 Especially if you're in Florida, which I think Florida's a one-party consent state, so you have to tell them that.

01:05:50.000 King of NC. Hey, Myron.

01:05:52.000 I'm 22, 780 credit score, and about 50K saved in my first job out of college.

01:05:58.000 Any tips for getting started in real estate?

01:06:01.000 You're going to need more money than $15,000, bro, depending on where you live.

01:06:06.000 Housing prices have definitely went up.

01:06:08.000 But, like I said before, you can go ahead and get yourself an FHA loan, but you're going to want more than $15,000, depending on what market you're in.

01:06:14.000 Jill, this is straight facts, Mercy. 0.87

01:06:16.000 I got a Hellcat and I always make sure it's a garage kept at all times at home parked next to the window of any establishment I go to and keep Betsy on my waist in my cup holder if shit were to ever hit the fan, stay protected. 1.00

01:06:31.000 Damn, bro. 0.99

01:06:32.000 It's like that? 1.00

01:06:32.000 Yeah, bro. 1.00

01:06:33.000 It's like that with Hellcats.

01:06:34.000 Yeah. 0.98

01:06:34.000 I did see some videos on YouTube saying that people were breaking into fucking Dodge dealerships stealing these things, but I thought it was maybe just a fan for a month or some shit. 0.98

01:06:42.000 They are highly sought after. 0.99

01:06:43.000 But they're just so easy to steal.

01:06:44.000 You can steal that car with a USB plug-in.

01:06:46.000 Yeah.

01:06:48.000 It's just so easy to steal that car.

01:06:50.000 Somebody knows what they're doing.

01:06:51.000 Five seconds, that car is gone.

01:06:52.000 That's the issue.

01:06:54.000 I don't know why.

01:06:56.000 How long can you last with a stolen car, though?

01:06:58.000 In my head, I'm like, what are you doing?

01:07:00.000 Are you going to take it to a chop shop for parts?

01:07:01.000 Oh, go take it to a shop, change the color.

01:07:03.000 So the minute the VIN gets swapped, you are done.

01:07:05.000 Because that VIN is gone.

01:07:06.000 There's no way they can correlate that car with what that car was.

01:07:10.000 Because it has a whole new VIN. Okay.

01:07:11.000 So they'll take a VIN from a salvaged Hellcat.

01:07:14.000 They'll throw it on there for $100.

01:07:16.000 Boom, it's a brand new car.

01:07:18.000 Okay, so that's what they're doing.

01:07:19.000 They're switching the VINs out.

01:07:21.000 I wasn't sure if they were taking parts of it because it's a powerful car or whatever.

01:07:24.000 I'm sure they do that too, part it out.

01:07:26.000 But a lot of these brand new cars, yeah, they do VIN swaps.

01:07:29.000 I came across a TikTok page, just stolen cars.

01:07:32.000 And they're selling Hellcats, brand new Hellcats, stolen $8,000 cash.

01:07:37.000 $10,000 cash. 0.99

01:07:38.000 Damn. 1.00

01:07:39.000 You can't buy that one in a credit card, I guess. 1.00

01:07:40.000 Yeah, one guy on that page.

01:07:42.000 I wouldn't buy it, though.

01:07:43.000 No, you run such a high risk.

01:07:46.000 I mean, on that page, they had a two-for-one deal.

01:07:48.000 S580 Maybach and a Trackhawk for like $15,000.

01:07:53.000 Yeah.

01:07:54.000 Yo! 1.00

01:07:55.000 You'll get arrested, bro.

01:07:56.000 And these are probably all stolen from car rental companies.

01:08:00.000 Yep, so you want to hear a little story?

01:08:01.000 This happened in the building, I don't know if you guys saw this.

01:08:04.000 There was a guy, I'm not going to name him, but he lived in the building, does car rentals.

01:08:07.000 He has about seven cars.

01:08:08.000 He bought a G-Wagon for like 80 grand.

01:08:10.000 He told me, I said, bro, you bought it for 80 grand.

01:08:12.000 That car is stolen.

01:08:14.000 He's like, nah, bro, got such a good deal.

01:08:15.000 The next day, he gets raided by like 10 cops, thrown in jail for the weekend because that car was stolen and they were watching it.

01:08:22.000 They were watching.

01:08:23.000 He had no idea it was stolen.

01:08:24.000 Keep in mind. 0.99

01:08:25.000 He bought it from- Did he buy it cash or some shit? 0.99

01:08:27.000 Yeah. 0.99

01:08:28.000 And the cops just came in.

01:08:30.000 He got evicted because of that.

01:08:32.000 He doesn't live in the building anymore.

01:08:34.000 Yo! 1.00

01:08:35.000 What the fuck? 1.00

01:08:36.000 So you gotta be so careful. 1.00

01:08:38.000 I know him?

01:08:39.000 You know him.

01:08:39.000 Oh.

01:08:40.000 He was talking shit about us? 1.00

01:08:42.000 Yeah. 1.00

01:08:42.000 Okay, I know it is. 1.00

01:08:43.000 Yo, what the fuck? 1.00

01:08:44.000 Like, I don't even care if he was talking shit. 1.00

01:08:46.000 Like, yo, he bought it for 80k? 1.00

01:08:48.000 80k, brand new G-Wagon.

01:08:50.000 That car brand new is like 200k minimum.

01:08:52.000 Minimum.

01:08:54.000 Wow.

01:08:54.000 That's a finesse right there, bro.

01:08:56.000 He didn't see, like, he didn't think, like, red flag, red flag.

01:08:58.000 Like a cheap price, he don't care.

01:09:00.000 He's not the brightest guy in the world, too.

01:09:01.000 I guess not. 1.00

01:09:03.000 God damn, bro. 1.00

01:09:03.000 He was willing to take that risk. 1.00

01:09:04.000 He was probably like, you know what?

01:09:05.000 He bought it cashed.

01:09:06.000 So I guess what saved him was that he probably had a receipt of the transaction and he paid 80k for it and he didn't steal it?

01:09:12.000 Exactly. 0.98

01:09:12.000 But he was stupid because he immediately called one of the big dealerships right here and said, hey, I have this G-Wagon. 0.98

01:09:17.000 Do you guys want it for like 130? 1.00

01:09:19.000 Oh.

01:09:19.000 He bought it and tried to turn around and sell it.

01:09:21.000 Yes.

01:09:21.000 Come on, bro.

01:09:22.000 So he had it for rent, but he was trying to make a quick 50.

01:09:25.000 Yeah.

01:09:29.000 Yo, welcome to Miami, bro. 0.99

01:09:31.000 Goddamn, man. 0.99

01:09:33.000 Holy. 0.99

01:09:33.000 Yeah, so I guess that's another game, more game for these people. 0.99

01:09:36.000 If the deal sounds too good...

01:09:37.000 Don't do it.

01:09:38.000 Don't do it.

01:09:39.000 Exactly. 0.70

01:09:39.000 50% off or some shit like that. 0.70

01:09:41.000 Don't pay a premium for a car, then get it at a really good deal where it's almost like, wait, why is it so low?

01:09:45.000 How could someone figure out if it's stolen so they don't run into a situation like that?

01:09:48.000 Is there anything that they can do?

01:09:49.000 Run the VIN. See what that VIN's coming back to.

01:09:52.000 Carfax too.

01:09:52.000 Carfax.

01:09:53.000 Okay.

01:09:53.000 Really know who you're buying that car from.

01:09:55.000 If you're buying the car from a dealer, you're going to be fine.

01:09:57.000 Yeah.

01:09:57.000 That's why we promote Carrier Motors.

01:09:59.000 We know the owner.

01:10:00.000 He's very honest, a lot of integrity.

01:10:03.000 He has multiple cars, and they're all checked.

01:10:05.000 So by default, you go there, you're going to get a really good car.

01:10:07.000 So buy it from a reputed person. 1.00

01:10:08.000 Don't buy fucking cars from randos. 1.00

01:10:09.000 Exactly. 1.00

01:10:10.000 Private sales, as much as you might save some money, but if you want to build a business on this shit, it's not worth it. 0.99

01:10:14.000 Because guess what? 0.99

01:10:15.000 When things go wrong, that's what I'm going back to.

01:10:16.000 The dealership.

01:10:17.000 Yeah.

01:10:18.000 Exactly.

01:10:18.000 And if you buy a shady car...

01:10:20.000 From somebody on the street.

01:10:21.000 They're gone.

01:10:22.000 They're gone.

01:10:23.000 And they're Idaho chilling.

01:10:25.000 That's for the audience here.

01:10:25.000 You want to start?

01:10:26.000 Yeah.

01:10:26.000 That makes sense.

01:10:27.000 You might pay a little bit more.

01:10:29.000 Shout out to Carrier Motors, by the way.

01:10:30.000 That's my people over there.

01:10:32.000 Jacob, shout to you.

01:10:33.000 Okay.

01:10:33.000 What else do we got here?

01:10:34.000 He was talking about that.

01:10:35.000 Okay.

01:10:35.000 What's up, fellas?

01:10:36.000 Mercy, do investors and car owners put their cars under the LLC? If so, how do they keep their ties with their cars?

01:10:40.000 I think he answered this earlier.

01:10:41.000 Yeah.

01:10:42.000 So they put the cars on their own LOCs.

01:10:44.000 We just have a management contract with them.

01:10:46.000 So Mercy has a management contract with their LOC that has the car.

01:10:49.000 Ah, okay.

01:10:50.000 Even better.

01:10:50.000 Okay.

01:10:51.000 What else do we got here?

01:10:53.000 Hey, what's your average car that constantly rents average amount of days, weeks, months, it rents for an average revenue it brings in?

01:11:00.000 So for us, right now, the Ferrari F8 is crushing it.

01:11:04.000 We rent that car for about $1,500 a day.

01:11:06.000 It does like 15, 20 days a month.

01:11:08.000 That's crazy, bro.

01:11:09.000 It is printing.

01:11:10.000 And we've had a lot of celebrities in that car.

01:11:12.000 T. Grizzly just rented it for the weekend.

01:11:13.000 Shout out to him.

01:11:14.000 Peso Pluma.

01:11:15.000 He had it for eight days.

01:11:16.000 Sent us a wire.

01:11:17.000 I mean, we've had a lot of big guys in that car.

01:11:19.000 But usually, the Cullinans and the Uruses are always the top.

01:11:22.000 That makes sense.

01:11:23.000 We have Cullinans out right now.

01:11:25.000 It's been out for like six days.

01:11:26.000 Ferraris are very particular.

01:11:28.000 Yes.

01:11:28.000 You know what I mean?

01:11:29.000 Yeah.

01:11:30.000 Okay.

01:11:31.000 You gotta be a Ferrari guy to do it.

01:11:33.000 Exactly.

01:11:34.000 Do you guys plan on expanding to other cities for future investors if, let's say, you guys no longer are taking investors due to having a huge fleet already?

01:11:41.000 If so, what clients do you see their business expanding to?

01:11:44.000 Or what cities?

01:11:44.000 I'm sorry.

01:11:45.000 So they're asking expanding.

01:11:47.000 So we made a trip to Atlanta.

01:11:50.000 Tell them about that.

01:11:51.000 Yeah, so we went down to Atlanta and we have a partnership in the works with a huge dealership out there.

01:11:56.000 They have insane cars.

01:11:58.000 They're really interested in the rental side as well.

01:11:59.000 So we're working on that currently.

01:12:01.000 Okay.

01:12:01.000 But right now we're really trying to just cement ourselves in Miami because it is the number one city in the world for exotic car rentals.

01:12:07.000 Yeah, of course.

01:12:08.000 We're trying to really just make sure we're number one here and have everything automated, have everything going well at all times.

01:12:12.000 Before you expand to another city.

01:12:14.000 Exactly.

01:12:14.000 Because then it's just going to be plug and play.

01:12:16.000 It's going to be very easy for us to expand.

01:12:18.000 But right now, honestly...

01:12:19.000 Would Atlanta be as big with their exotic cars?

01:12:22.000 The clientele is not going to be that good.

01:12:23.000 But it's going to be a hard clientele.

01:12:26.000 I think next to Miami, people that want to flash, they're in Atlanta.

01:12:30.000 I think so.

01:12:31.000 Yeah, but they come here visiting, so it's kind of already been screened.

01:12:33.000 So when we went down there, the dealer that we have this partnership with, they said they think most of the clientele that we're going to get are going to be locals.

01:12:40.000 Just people that want to take a card for the weekend, etc.

01:12:43.000 Because he said there's not a lot of people coming into Atlanta looking to spend a lot of money like that, like Miami.

01:12:48.000 So it's just any local clientele that you're dealing with is going to cause more headaches.

01:12:52.000 Okay.

01:12:53.000 So that's what kind of has you, okay.

01:12:54.000 Exactly.

01:12:56.000 Okay.

01:12:59.000 Fresh, in one shade of black, away from becoming the Mad Titan of the RP. So you're funny, bro.

01:13:09.000 Okay.

01:13:09.000 How much money should you have to start a luxury car dealership rental service?

01:13:14.000 And would it be smart to have them both together or just do rentals instead of actually selling them too?

01:13:18.000 I think it's a really smart idea to do both because you could rent out the cars that are sitting for a long time that aren't getting a lot of demand.

01:13:25.000 And I think a lot of these dealerships aren't doing that, which I think is a huge plus.

01:13:30.000 So if you're looking to start a dealership and a rental car company, there's no problem doing both at the same time.

01:13:34.000 Okay.

01:13:34.000 Because we do actually sell a lot of the cars that we have in the fleet.

01:13:37.000 Oh, okay.

01:13:37.000 Sometimes people will rent from us.

01:13:38.000 Bro, I love this car.

01:13:39.000 Can I buy it?

01:13:40.000 Yeah.

01:13:40.000 One of my boys in the building bought our Range Rover.

01:13:42.000 Rented for the weekend and said, bro, I love this car.

01:13:43.000 Wired 60K for the down payment.

01:13:45.000 Took over the payments.

01:13:46.000 Yeah.

01:13:47.000 Wow.

01:13:47.000 Made like 25 grand.

01:13:49.000 Just like that.

01:13:50.000 Okay.

01:13:50.000 Can you tell them Jayden about his audit formula?

01:13:52.000 Yeah, so right now, because we have so many cars in the fleet, I'm actually trying to offload a lot of the cars that we have.

01:13:58.000 So my goal with Mercy is, I want this to be like a 10 to 12 ultra high, like exotic niche car rental company.

01:14:04.000 Like just crazy, crazy cars.

01:14:06.000 So you want to have a smaller fleet, charge more, simpler maintenance.

01:14:09.000 Exactly.

01:14:09.000 So one of the goals and one of the things we're working on right now, we actually have quite a few students, is we're teaching people the exotic car rental game.

01:14:16.000 Those that are interested either, even to make an extra $2,000, $3,000, $4,000, $5,000 a month.

01:14:20.000 We have those guys and we have guys that want to build a 20-car fleet.

01:14:23.000 This business is perfect for both of those demographics.

01:14:27.000 But we're teaching people how to build their own exotic car in the company.

01:14:30.000 And we're actually going to give people that are local the cars that we have, the lower-end cars that we don't really move that much, We're just going to start offloading them to our students who are doing a really good job when it comes to the insurance verifications, the marketing, guys that we feel confident in.

01:14:43.000 We have no problem just giving them cars that we already have.

01:14:46.000 So we're actually going to get a lot of these guys their first vehicles that are in our program.

01:14:49.000 Which is insane.

01:14:50.000 And that Aston Martin that you guys are giving away, someone could start a car rental business with that.

01:14:55.000 Exactly.

01:14:55.000 That's the play.

01:14:56.000 How much do you think someone can look to make with an Aston Martin like that?

01:15:00.000 I mean, they're not paying any money, they're getting it for free.

01:15:02.000 $600 a day?

01:15:03.000 Making a lot of money.

01:15:04.000 Really?

01:15:04.000 One of our students, yeah.

01:15:05.000 You could charge $600 a day for that thing.

01:15:08.000 And payment's like what?

01:15:09.000 $2,000?

01:15:10.000 $1,800?

01:15:11.000 $1,700?

01:15:11.000 Yeah.

01:15:12.000 And that was when the asset amount was like $120,000.

01:15:14.000 So now...

01:15:14.000 Even cheaper.

01:15:15.000 Yeah.

01:15:15.000 I think our student who has the asset amount, he's paying probably $1,300.

01:15:18.000 So it's straight profit.

01:15:19.000 And these are Miami prices?

01:15:20.000 Like, they could charge that... 0.99

01:15:21.000 Would that be like what they charge in Miami versus let's say they're in fucking... 0.98

01:15:24.000 I don't know. 0.98

01:15:25.000 Las Vegas, maybe they might charge $500.

01:15:27.000 You know the best part?

01:15:28.000 Probably around there, $500.

01:15:29.000 So Miami, $600.

01:15:30.000 Other places you could charge a little bit less?

01:15:31.000 I'd say minimum $400.

01:15:33.000 I can't see going below.

01:15:34.000 The best part is you don't have to be in Miami.

01:15:35.000 You could be anywhere.

01:15:36.000 You could be in New York, Vegas.

01:15:37.000 Yeah, because whoever's going to win this probably won't be here anyway.

01:15:40.000 They'll probably be somewhere else.

01:15:41.000 So bare minimum $400, but on the low end $400, high end $600.

01:15:45.000 Exactly. 0.99

01:15:45.000 That's fucking crazy. 0.99

01:15:46.000 And they get it for free. 0.99

01:15:48.000 Yeah, it's truly, it's a business that changed my life.

01:15:49.000 Not even the money, like the networking.

01:15:52.000 The networking is insane.

01:15:53.000 And I'm no one special, right?

01:15:55.000 I'm from Canada.

01:15:56.000 I moved down here.

01:15:57.000 I just wanted a different life.

01:15:57.000 I wanted to live under the sun all year round.

01:15:59.000 Decided to start this company and it just opened so many doors for me.

01:16:02.000 So I'm trying to give that back to guys that are looking to get started because This is something I didn't share, but I was on tour for six months.

01:16:08.000 What really changed the game for me is I actually hired a mentor for $15,000.

01:16:12.000 I had a guy who came to me, yo, I'm looking to sell my exotic car as a company.

01:16:17.000 I didn't really want to purchase his brand.

01:16:18.000 Was it the guy that had that issue?

01:16:20.000 Was it the guy that escaped the drunk driving thing?

01:16:22.000 That was your mentor?

01:16:23.000 No.

01:16:23.000 So that was just one of my buddies.

01:16:25.000 This guy also had a huge fleet though.

01:16:26.000 15 cars at his peak.

01:16:28.000 He actually owned all of his cars.

01:16:29.000 He was making like 200k a month.

01:16:32.000 And he's in private equity real estate now.

01:16:35.000 So he's just kind of shifting his focus of doing this for so long.

01:16:37.000 I hired him as a mentor for 15k.

01:16:39.000 And I remember him telling me, he's like, you'll probably make your money back within three, four months.

01:16:43.000 I made that 15k back within two weeks.

01:16:45.000 Nice.

01:16:46.000 Off the things he told you.

01:16:47.000 Yeah.

01:16:49.000 What would you say, because I see that you're like real big on downsizing, whatever.

01:16:52.000 What would you say is like the optimal number for maybe a beginner, an intermediate, and then an advanced guy as far as like having a fleet size?

01:16:59.000 Because so many people like to flex, I got a 30 car fleet, 50 car fleet, et cetera, but that's gotta be tough to manage.

01:17:04.000 And I see that you're trying to downsize.

01:17:05.000 What do you think is the best number based on people's experiences?

01:17:09.000 Quality.

01:17:09.000 Yeah, quality of cars.

01:17:11.000 So like 10 to 15, you know?

01:17:12.000 You really got to understand.

01:17:13.000 Yeah, because your clientele is going to change.

01:17:15.000 I was renting these like BMWs, the Mercedes a lot, like these low-end cars.

01:17:19.000 And that's kind of what I was specialized in.

01:17:20.000 People that didn't want to pay for a Huracan would come and rent an M5 from me.

01:17:24.000 Now it's completely shifted.

01:17:26.000 So my clientele is only ultra high-end.

01:17:28.000 They want Cullinans, they want Huracans, they want Ferraris.

01:17:31.000 I don't move the lower tier cars nearly as much.

01:17:33.000 So for me, I have no problem giving somebody who wants to get started a C63. Boom, I know they're going to market that car every single day.

01:17:40.000 They're going to get that car out a lot more than me just because my clientele isn't that kind of clientele.

01:17:44.000 But when you're first starting, your clientele is always that kind of clientele.

01:17:47.000 Yeah, of course.

01:17:47.000 When you build a brand and credibility, then people will feel comfortable spending $1,500 with you and putting a $2,000 deposit down because they know they're going to get that back if the car comes back straight.

01:17:57.000 So I think 10 to 15, but quality over anything.

01:18:01.000 Don't get cars that you think they're going to move and they don't end up moving.

01:18:04.000 Really be sure about the cars you're getting and really do your research before.

01:18:08.000 Do not be stuck holding a car that's not going to move because that is the worst thing ever.

01:18:12.000 Beginner, maybe two to three.

01:18:13.000 2 to 3 is perfect.

01:18:14.000 Do you think they can earn maybe 5 to 10k a month on that?

01:18:17.000 100%.

01:18:17.000 Okay.

01:18:18.000 There's a problem where people... 1.00

01:18:19.000 There you go, motherfuckers. 1.00

01:18:19.000 I don't want to hear no goddamn excuses. 1.00

01:18:21.000 There's a problem where people buy a car that they like, but it doesn't move. 0.98

01:18:25.000 So like, I like a car.

01:18:26.000 The GTR example.

01:18:28.000 There you go.

01:18:28.000 Well, that was the Supra.

01:18:29.000 Or the Supra.

01:18:30.000 The Supra, I'm sorry.

01:18:31.000 Exactly.

01:18:31.000 But if you buy a car like that, that you like because you like cars, that doesn't mean he likes cars.

01:18:36.000 So it's going to be like, yo, bro, what's going on?

01:18:37.000 But nigga, I want a Lambo. 1.00

01:18:38.000 Exactly.

01:18:39.000 So what I would do in that situation is I would get two cars that I know for sure are going to rent all the time and take the revenue from those cars and get a car that you want.

01:18:46.000 Boom.

01:18:46.000 Simple.

01:18:47.000 Right?

01:18:47.000 Allow one to two cars to pay for your personal car.

01:18:50.000 I've heard a lot of people, because we brought Detroit Mogul on and Pushman Mitch, and they said the same exact thing.

01:18:55.000 Mercedes C-classes move well, and then Jeep Compasses, surprisingly.

01:19:00.000 Yeah, Jeeps too.

01:19:01.000 Not Jeep Compasses.

01:19:02.000 Jeep Liberties. 0.73

01:19:03.000 They go really well.

01:19:04.000 So those are seven-seaters, I think, right?

01:19:06.000 Yeah. 0.99

01:19:07.000 Damn it. 0.99

01:19:08.000 I mean, we don't only rent those type of cars. 1.00

01:19:10.000 Yeah, of course.

01:19:10.000 You guys are higher end.

01:19:11.000 But I'm just saying, for the average Joe trying to start up, right?

01:19:14.000 Some of these guys right now might have a Jeep Liberty that they have and they don't realize that they could probably rent.

01:19:18.000 More of a girl car, though.

01:19:20.000 A little bit.

01:19:21.000 But I'm sure it does well.

01:19:23.000 C-Class is a girl car too?

01:19:25.000 You know what car does super well down here?

01:19:26.000 Every nurse has one of those. 0.99

01:19:28.000 Yeah.

01:19:28.000 Mercedes C-Class.

01:19:29.000 Tell me I'm not lying.

01:19:31.000 Strippers. 1.00

01:19:31.000 Come on, man. 1.00

01:19:32.000 Strippers have it too.

01:19:33.000 The CLAs.

01:19:34.000 They all have CLAs.

01:19:35.000 Yeah, yeah.

01:19:36.000 CLAs.

01:19:36.000 Every girl.

01:19:37.000 If they drive a Mercedes, I'm like, is it a CLA? Yeah.

01:19:39.000 No surprise.

01:19:39.000 Almost always, bro.

01:19:40.000 Always.

01:19:41.000 But the Porsche Macan.

01:19:43.000 That is...

01:19:44.000 So, I know somebody down here.

01:19:46.000 He has a Porsche Macan.

01:19:47.000 He hasn't seen that car for three months.

01:19:49.000 Payment's like $500 a month.

01:19:51.000 He rents that for $80 a day on Turo and privately for like $120 and just prints.

01:19:57.000 And it's a Porsche.

01:19:58.000 Beautiful car.

01:19:59.000 They're like worth $30,000, $40,000 now.

01:20:00.000 You know, you got a 2018 Macan, bulletproof car because it's German engineering.

01:20:04.000 You're not going to find many issues with it.

01:20:05.000 Would a Boxster do well, you think?

01:20:06.000 Sorry?

01:20:06.000 A Porsche Boxster?

01:20:07.000 No.

01:20:07.000 Would that do well?

01:20:08.000 No.

01:20:08.000 Too niche.

01:20:09.000 If you want to look at it from a customer standpoint, imagine, I don't want a car payment.

01:20:14.000 I rent the car for $80 a day.

01:20:16.000 You do that over 30 days?

01:20:18.000 Not that much money.

01:20:19.000 So it's a W for the customer and the person renting too.

01:20:21.000 Yeah.

01:20:22.000 Yeah. 0.57

01:20:22.000 No, I mean, this is really good stuff, man, because literally there's people watching this right fucking now that I know y'all have a car that's sitting around that you can probably make some money on that you'd barely drive or you don't drive that much. 0.57

01:20:33.000 I mean, look, this year we're making money. 0.67

01:20:35.000 We decided this year and everything.

01:20:37.000 Business, other businesses, we're making money.

01:20:39.000 So listen, cars turn into business.

01:20:41.000 Why not?

01:20:42.000 It's perfect because a lot of people have a passion when it comes to cars.

01:20:45.000 A lot of people want to drive these higher-end cars and they can't afford it.

01:20:49.000 So kind of like we stated before, it's just such an easy way to get these cars for free, leverage it to your advantage, network with them, make money with them.

01:20:56.000 And I bought cars in the past, and I wanted cars earlier when I was broke, but I didn't understand all the concepts between finance and all that stuff.

01:21:03.000 And then I figured out, after learning from people, I could rent the car out.

01:21:07.000 It'll pay for itself.

01:21:08.000 It's like, wow.

01:21:09.000 You can't beat that, though.

01:21:10.000 Exactly.

01:21:11.000 That boy says, I currently have a Turo business in NYC. Could you recommend a few more luxury cars that might rent well in this market?

01:21:18.000 So, NYC, the roads are terrible.

01:21:22.000 Seasonal.

01:21:22.000 For real.

01:21:23.000 So, I would stick to, like, if I was building a luxury, Car company in NYC. My first cars would be like an S580 Maybach, a GLS 600 Maybach, and I would get Escalade.

01:21:34.000 I'd probably get two Escalades, and I would get one nice sports car, but I don't think I'd get a Huracan.

01:21:39.000 I'd probably get like a C8, something like that.

01:21:41.000 A little bit lower end, that's still a sporty car.

01:21:43.000 Those cars, you are printing, like guaranteed, guaranteed.

01:21:46.000 Okay.

01:21:47.000 Awesome.

01:21:49.000 Trayvon goes, Hey fellas, recommendations on creating and maintaining storage systems for your cars.

01:21:54.000 And what is a good set of questions to ask when procuring insurance for the cars?

01:21:58.000 You did say you don't need full coverage for the vehicle when renting them out.

01:22:03.000 The renter needs full coverage.

01:22:05.000 Your personal insurance doesn't need full coverage.

01:22:07.000 It really all depends on what the client has.

01:22:10.000 Your insurance at the end of the day doesn't matter to you too much because your insurance isn't the one getting hit if something happens.

01:22:16.000 Alright, boom.

01:22:19.000 You guys are asking us some really good questions by the way, man.

01:22:22.000 How do I go about finding a place to store vehicles when they are not rented?

01:22:26.000 So, depending on how many cars you have, obviously, if you have a couple cars and maybe you have a couple, if you live in an apartment, you have a couple spots you can purchase more, do that.

01:22:34.000 You're going to save a lot of money.

01:22:35.000 If you live in a house, keep a couple in the driveway, in the garage, if you're not in a high crime area.

01:22:42.000 Should you have renters come to your house to pick up the cars? 0.94

01:22:44.000 It's up to you, but I mean...

01:22:46.000 I personally wouldn't if it's a house.

01:22:48.000 An apartment building, no risk.

01:22:49.000 But a house, because you never know what could go wrong, right?

01:22:52.000 If you have to take a client's deposit for any reason, even if they know they're in the wrong, they will give you a hard time.

01:22:57.000 Yeah.

01:22:58.000 Right?

01:22:58.000 And if you don't want them to know where you live.

01:23:00.000 Depending on the...

01:23:00.000 You never know what could happen.

01:23:01.000 Just be safe at all times.

01:23:03.000 Don't take any risks.

01:23:04.000 Put it in a neutral location, maybe.

01:23:05.000 I would say meet somebody at a Publix or, for example, a Walmart parking lot.

01:23:09.000 Meet them there.

01:23:10.000 Exactly.

01:23:11.000 Okay.

01:23:11.000 Give them the car over there.

01:23:12.000 Or should you just leave it, drop it off, and then leave?

01:23:14.000 You could do that too.

01:23:15.000 Take it to the house.

01:23:16.000 Yep.

01:23:16.000 And then take it over back home.

01:23:18.000 Yep, that's fine.

01:23:18.000 You could do that too.

01:23:19.000 Fair enough.

01:23:20.000 Alright. 0.99

01:23:21.000 Man, y'all getting a lot of fucking game right now, man. 1.00

01:23:23.000 Goddamn. 1.00

01:23:23.000 I think we're getting too much sauce, bro. 1.00

01:23:25.000 I think so too.

01:23:26.000 For free, by the way.

01:23:27.000 For free.

01:23:27.000 All for free, man.

01:23:29.000 For Mercy, I'm 18, currently renting three Jeep Grand Cherokees on Turo with my father.

01:23:34.000 I live in the northern Nevada area, and there is high need for four-wheel drive.

01:23:39.000 How do you recommend transitioning to private?

01:23:42.000 And what cars do you recommend for this area?

01:23:45.000 Also, any courses.

01:23:46.000 So if I'm not mistaken, probably like the Reno, Nevada area.

01:23:49.000 It gets kind of cold.

01:23:50.000 It's seasonal as well.

01:23:52.000 From a weather perspective, he's got three Jeeps right now doing pretty well.

01:23:55.000 Four-wheel drive.

01:23:55.000 It seems like that's what they want.

01:23:56.000 For sure.

01:23:57.000 So to transition off of Turo, kind of like what I said, what we did is start telling your clients, hey, look, I can rent these cars to you privately.

01:24:04.000 I need you to have full rental coverage.

01:24:06.000 But if you do...

01:24:07.000 Rent from me privately.

01:24:08.000 We'll escape all the fees.

01:24:10.000 Turo holds deposits for like a week.

01:24:11.000 Say, I'll give you a deposit back within 24 hours.

01:24:13.000 Bam.

01:24:13.000 Boom.

01:24:14.000 Instantly, you're providing more value.

01:24:15.000 There's no reason why they shouldn't go to you privately.

01:24:17.000 Yeah.

01:24:17.000 Right?

01:24:17.000 So that's number one.

01:24:18.000 Number two, car-wise, I think, yeah, those cars are great.

01:24:23.000 You know, they're going to go out a lot.

01:24:24.000 If you're looking to get into more of the luxury scene, In Nevada, I would say it gets a little cold.

01:24:30.000 You know, SUVs, you can never go wrong.

01:24:32.000 SUVs.

01:24:32.000 I would say Maybach SUV, because in Nevada, I'm sure, Vegas isn't too far.

01:24:37.000 If somebody wants to go to Vegas for a weekend, Maybach, it's nothing better, you know?

01:24:41.000 So I think those cars would always do their own.

01:24:43.000 G-Wagon's a good car, and you get that right off.

01:24:44.000 Write that right off as well.

01:24:45.000 It's a four-wheel drive, right?

01:24:46.000 If I'm not mistaken?

01:24:47.000 I think it's a...

01:24:48.000 What?

01:24:48.000 It is.

01:24:49.000 G-Wagon's a four-wheel drive, yeah. 0.99

01:24:51.000 Oh, but no, nigga. 1.00

01:24:53.000 That's a good question. 0.64

01:24:54.000 As a guy that comes from a cold area, four-wheel drive is like, you need that when you live in a snowy area. 0.64

01:25:01.000 When you get black ice and all that bullshit, you need a four-wheel drive. 0.61

01:25:03.000 100%. 0.99

01:25:03.000 Ties just spin. 0.99

01:25:05.000 Yeah, four-wheel drive. 1.00

01:25:07.000 Who gives a fuck about that shit down here? 1.00

01:25:08.000 But when you're in the northeast and it's cold, yeah, you need that. 1.00

01:25:11.000 That's why the Jeeps are doing so well up there.

01:25:12.000 That's what he's saying.

01:25:14.000 And he said we want four-wheel drive.

01:25:16.000 Albo Ace, and is the ROI and this type of business worth it?

01:25:19.000 Me and my brother have been very interested in starting something like this, especially since we are passionate about cars.

01:25:23.000 A hundred percent.

01:25:25.000 For example, right, I'll give you an example of a car that we purchased.

01:25:28.000 We got a Maybach SUV. We put $40,000 down.

01:25:31.000 That was $170,000.

01:25:33.000 Payment was about $3,300 a month with insurance, okay?

01:25:36.000 We were renting that car for $600,000, $700,000 a day.

01:25:38.000 It was going out 15, 20 days a month.

01:25:40.000 We made that $40,000 back within four or five months.

01:25:44.000 So we got our money out within four or five months.

01:25:47.000 Cars bang for itself.

01:25:48.000 Risk free.

01:25:49.000 Our money, you know, the money that we got tied up came out within four or five months.

01:25:53.000 Profit.

01:25:53.000 That's it.

01:25:54.000 How should someone, how long should someone wait?

01:25:56.000 Because that's a really good rubric there.

01:25:57.000 How long should they, you think, is a good timeline for getting back into the, getting black as far as like their original investment into procuring the vehicle?

01:26:05.000 For sure.

01:26:05.000 So obviously, credit's huge, right?

01:26:07.000 If you can put least money down, you're gonna get that out a lot faster.

01:26:10.000 Yeah.

01:26:10.000 But usually it takes, I say, six months.

01:26:13.000 Six months.

01:26:13.000 To be safe, six months.

01:26:14.000 Okay.

01:26:14.000 And get that money out.

01:26:15.000 And that's with all cars or just specifically with your cars?

01:26:18.000 Because you're buying like high-end stuff.

01:26:19.000 I would say with all cars.

01:26:20.000 I think it's kind of relatively the same, right?

01:26:22.000 Like, for example, a Huracan, you're putting maybe 60, 70 down.

01:26:25.000 Yeah.

01:26:25.000 But we rent that for 1,200 a day.

01:26:27.000 Okay.

01:26:27.000 So if you're doing even 15, 20 days a month, it doesn't take you that long to get that money out.

01:26:31.000 Okay.

01:26:31.000 And then you're completely risk-free.

01:26:33.000 Okay.

01:26:33.000 So six months is a good thing to shoot for.

01:26:35.000 Yep. 0.99

01:26:35.000 Guys, don't freak out if you're not black. 0.99

01:26:38.000 Exactly.

01:26:39.000 Something I say too is even with the monthly payment, if the car is just paying for the monthly payment, you have to remember that every time you make your monthly payment, you're paying into the equity of the car.

01:26:46.000 So that car pays for itself for a whole year.

01:26:49.000 Let's say car payment is $4,000 a month and it's only making $4,000 every single month.

01:26:53.000 Well, that's 50 grand that you put into that car that's pretty much free money.

01:26:57.000 Look at it as a renter when they rent from you for your mortgage.

01:27:00.000 They're paying it down for you.

01:27:01.000 Exactly.

01:27:02.000 So if you're renting for cars, they're paying the actual price of the car for you.

01:27:05.000 At the worst case scenario, you're not coming out of pocket for the vehicle.

01:27:08.000 And the asset's paying for itself.

01:27:10.000 So you're owning more equity every single month because somebody else is paying for that.

01:27:14.000 And the best part is, when it's not rented, you drive it.

01:27:16.000 Exactly.

01:27:18.000 Oh, yeah.

01:27:18.000 Every weekend, if I'm going out, because I have so many cars now, you know, my investors are on such good relationships.

01:27:24.000 All my investors are all making really good money.

01:27:26.000 I'll just hit them up.

01:27:27.000 Hey, I'm going to take the car out for, you know, five miles going here.

01:27:29.000 Take it.

01:27:30.000 Don't even ask me.

01:27:31.000 Take the Ferrari out, you know, to wherever.

01:27:34.000 You pull up to events in these cars when they're not rented, and all the eyes are on you.

01:27:37.000 I hate to say it, but these cars, the attention that they bring, people want to know who you are when you pull up in a Ferrari.

01:27:43.000 If you pull up in an Uber, they're not looking at you the same way as a Ferrari.

01:27:47.000 Just to be transparent here as well, we met randomly at a ballet because he's into cars, I'm into cars, so connected to this.

01:27:54.000 They'll be networking.

01:27:55.000 And now we're doing business together and it's huge.

01:27:57.000 But again, it's like, we know these cars, you pull up the spot, it isn't respect.

01:28:01.000 Even girls, on some level girls like it even better as well.

01:28:04.000 So it's like- There's conversations for sure.

01:28:05.000 You got to have that like, oh, let me say this.

01:28:08.000 You're coming into the game with a asset that people say, okay, he's somebody.

01:28:12.000 Let me see what he's about.

01:28:14.000 Yeah.

01:28:14.000 At least so.

01:28:15.000 No, man.

01:28:15.000 I mean, this has been a really fast...

01:28:17.000 I've been learning a bunch of taking notes and stuff like that.

01:28:19.000 I think the audience is learning a lot. 0.97

01:28:21.000 Like, this is fucking awesome stuff. 0.93

01:28:22.000 Like, a lot of people... 0.93

01:28:23.000 This is one of these businesses that, like, people want to start, but they kind of like, I don't know how to go about this. 0.98

01:28:28.000 And they're, like, scared and shit. 0.87

01:28:29.000 And you guys are answering a lot of the big questions that people have. 0.98

01:28:32.000 Dude, I've always wanted to do it myself, but I didn't have the system or know how to do it or the marketing.

01:28:35.000 He has it down pat.

01:28:36.000 Actually, tell them about the formula real quick.

01:28:39.000 Bill, put it real quick on the screen, the formula, and the marketing.

01:28:42.000 Give me our crazy value.

01:28:43.000 Yeah.

01:28:43.000 The marketing that we do?

01:28:44.000 Yeah, for the formula.

01:28:48.000 So, say that one more time.

01:28:50.000 How do you market, for example, getting your stuff out there?

01:28:52.000 I know you do the reals, TikToks.

01:28:54.000 So, yeah.

01:28:54.000 So, this is actually huge too.

01:28:55.000 What I found a lot of these guys do and what we were doing at first is we're getting content around the cars.

01:28:59.000 You know, just getting videos of the cars, post them. 0.98

01:29:01.000 That shit does not pop off on Instagram, on TikTok. 0.99

01:29:03.000 The algorithm doesn't push that. 1.00

01:29:04.000 The minute I started copying viral content ideas, street interview style contact.

01:29:10.000 We would go up to random people on the street.

01:29:12.000 Like to girls, we said, what car would you want to be picked up on a date? 0.98

01:29:15.000 Five girls said Lamborghini.

01:29:16.000 We posted it.

01:29:17.000 Boom.

01:29:17.000 Went absolutely viral.

01:29:19.000 Got like an insane amount of followers engagement.

01:29:22.000 So nowadays I kind of just copy like what's viral and I kind of base our content around that.

01:29:27.000 And all you need for your page is you just want people to come to your page because they're gonna rent from you regardless, right?

01:29:33.000 If they see your content go viral, they come to your page, they see you do exotic car rentals, they're gonna remember you.

01:29:39.000 So many people have recognized me from Mercy.

01:29:41.000 Oh, you're Mercy, I've seen you guys on Instagram.

01:29:43.000 You know, one of our students, he said he saw one of our reels go viral like eight months ago.

01:29:47.000 And he was like, I knew you guys were the ones when you launched this because I saw your marketing work.

01:29:52.000 I saw, you know, from that reel, I followed you guys and I saw the growth.

01:29:56.000 So just copy viral content. 0.99

01:29:57.000 Don't get the content that you like, you know, especially when it's around cars because that shit doesn't work for some reason. 0.90

01:30:03.000 Even that really cinematic, like, production-style content with cars driving, the exhaust sounding loud.

01:30:08.000 Yeah, it can, but it's so hard to get that to pop off.

01:30:11.000 Now, this isn't for everyone, but if you book a call with Jayden, you can qualify.

01:30:15.000 Once you qualify, you'll move forward.

01:30:17.000 Yep, 100%.

01:30:17.000 As far as, like, getting their car in with him?

01:30:20.000 Yeah.

01:30:20.000 Calling them, or even, for example, getting mentorship, coaching.

01:30:23.000 Yeah, no, for sure.

01:30:24.000 To work with him?

01:30:24.000 That's cool.

01:30:25.000 All right.

01:30:27.000 What's What's up next here?

01:30:28.000 Myron, how do I do a proper lat down?

01:30:30.000 My forearms always tire out first.

01:30:33.000 Yeah, bro, go thumbless.

01:30:34.000 That'll help you a lot.

01:30:34.000 And then also focus on engaging your lats before you even pull.

01:30:37.000 So what you're going to do is you're going to raise your arms like this.

01:30:38.000 And what I want you to do is retract your scat like that and then pull down.

01:30:42.000 You're going to feel it way more in your back.

01:30:44.000 Yo, look at Snickle, man.

01:30:46.000 Snickle's Rumble Rant.

01:30:48.000 Thug Hellcat L Fresh C... Okay, I don't know what that means.

01:30:52.000 No, he's saying L me because I said Hellcats are for niggas.

01:30:55.000 Yeah.

01:30:58.000 And then Ari goes, how should I start a Turo business in Toronto?

01:31:01.000 Do I start with luxury sedans, SUV, or cheap cars?

01:31:04.000 Any tips on operating a rental car business in Toronto?

01:31:06.000 Well, you're from Canada.

01:31:07.000 Vancouver, the other side.

01:31:08.000 Vancouver.

01:31:08.000 Toronto gets cold.

01:31:10.000 Stick to the SUVs because if you want those cars out during the winter...

01:31:14.000 I mean, those are the only cars that are really going to survive, right?

01:31:17.000 But people are always...

01:31:18.000 I mean, the nice thing with the winter months is people aren't walking.

01:31:21.000 They want you to drive.

01:31:22.000 They want to get picked up in an Uber.

01:31:23.000 They want their own car.

01:31:24.000 But in the summer, people might be like, you know what?

01:31:26.000 Beautiful weather.

01:31:26.000 I'll go for a walk.

01:31:27.000 I don't need an Uber.

01:31:27.000 I don't need to rent a car.

01:31:29.000 So just stick to the cars that are winter-dependent.

01:31:31.000 So the SUVs, the seven-seaters, those cars in a big city like Toronto are always going to do well.

01:31:36.000 Always.

01:31:37.000 WJD, man.

01:31:38.000 Anything else?

01:31:39.000 Are we caught up?

01:31:40.000 Oh, last question.

01:31:41.000 Last one for me, bro.

01:31:46.000 Can someone actually drive a car for free, in your opinion?

01:31:51.000 100%.

01:31:51.000 It usually takes us, if they own these cars themselves, they're not getting investors, within four or five days, you're broken even on a Huracan.

01:31:58.000 I mean, think about that for a second.

01:32:00.000 You have 30 days out of the month, all you need is four days to break even, and these people are renting all the time.

01:32:05.000 So many people want a Huracan, they want to drive a Huracan, but they can't afford one.

01:32:08.000 So what are they going to do?

01:32:09.000 They're going to rent one for the weekend.

01:32:10.000 And people are like, oh, people aren't renting cars right now.

01:32:12.000 Is that the most popular luxury car, you would say, that goes out the most?

01:32:15.000 Like sports cars wise?

01:32:16.000 Yeah.

01:32:17.000 That and the Ferrari, you said F8? The F8. Like, my Huracan just came back.

01:32:21.000 Or no, went out on a one-day.

01:32:22.000 Has a four-day reservation on Friday.

01:32:24.000 It was on a five-day last week.

01:32:25.000 And I mean, I never see that car.

01:32:27.000 The investor had to get another car because they never have that car either.

01:32:29.000 So they went and bought a G-Wagon.

01:32:31.000 And now that G-Wagon's out too.

01:32:32.000 I think that car is a great car.

01:32:34.000 It moves a lot down here.

01:32:35.000 Yeah.

01:32:36.000 But you know what I hate, bro?

01:32:38.000 I hate when guys rent a car, post on Instagram like it's their car.

01:32:42.000 And I'm like, bro, we know who that car belongs to.

01:32:45.000 It's our car!

01:32:46.000 100%.

01:32:46.000 Stop picking it, man.

01:32:47.000 That's funny.

01:32:48.000 I don't know how I came across this guy's Instagram page.

01:32:51.000 But he, I guess he was in Miami, and he posted Fresh's car in the ballet like it was his.

01:32:54.000 Yeah, bro. 0.92

01:32:55.000 I'm like, nigga.

01:32:55.000 I sent it to Fresh.

01:32:56.000 I said, bro, isn't that your car?

01:32:57.000 Yeah, bro.

01:32:57.000 He's posting the SB with the doors up.

01:32:59.000 That's my car, nigga. 0.98

01:33:01.000 I laughed so hard. 0.82

01:33:03.000 But to be fair, if I was renting cars, I'd do the same thing.

01:33:07.000 If I'm in Miami for a weekend, I'm posting Mipop. 1.00

01:33:10.000 This is what people do, right?

01:33:11.000 Going to the club, getting bottles, in a Lambo.

01:33:13.000 I'd post all that flex stuff.

01:33:15.000 That's what you got to do.

01:33:16.000 If you're spending that kind of money, you got to take advantage.

01:33:17.000 See, I don't mind if you're posting it, but posting it like it's your car.

01:33:19.000 Like, this is my car.

01:33:20.000 I'm in mine.

01:33:21.000 Look at me.

01:33:22.000 Bro, come on, man.

01:33:23.000 100%.

01:33:23.000 That's whack.

01:33:24.000 Nah, that's clown. 0.99

01:33:25.000 That's clown, baby. 0.98

01:33:25.000 You know what put in the bio? 0.98

01:33:26.000 It's a rental.

01:33:27.000 Then I respect you.

01:33:28.000 At least you're honest about it.

01:33:29.000 Yeah, tag my rental car company.

01:33:30.000 Tag Mercy.

01:33:31.000 Give me some love.

01:33:32.000 Tag Mercy, man.

01:33:32.000 Come on.

01:33:32.000 Yeah, that's just funny.

01:33:33.000 Come on, bruv.

01:33:34.000 All right.

01:33:35.000 That's it?

01:33:36.000 No, we got more chats.

01:33:36.000 We got more chats.

01:33:37.000 Okay, Blicky Sticks goes, I live in a small town.

01:33:39.000 Is there any way I can still do this?

01:33:40.000 Do I have to move to do this?

01:33:42.000 I live about two hours from Seattle.

01:33:44.000 Can I do this remotely?

01:33:45.000 Maybe.

01:33:46.000 100%.

01:33:46.000 See, now...

01:33:47.000 I'm at the point where I can start a company, any city.

01:33:50.000 I don't have to be there.

01:33:50.000 And these guys can do the same thing.

01:33:52.000 Any city is going to work.

01:33:53.000 Like any city that has people, that has a little bit of tourism, you know, is going to work.

01:33:58.000 100%.

01:33:58.000 You're going to two hours from Seattle.

01:33:59.000 So you can set up your cars in Seattle, bro.

01:34:01.000 Exactly.

01:34:02.000 Exactly.

01:34:03.000 They'll be hanging out with, out the window, yelling, GLA, GLA, boom, all investing your money in nerd cards like flesh.

01:34:10.000 You say, gra, gra, boom, basically being a... 0.98

01:34:13.000 Niggas, speak English, nigga. 1.00

01:34:14.000 I don't know what he's saying. 0.99

01:34:14.000 See, that's why he gets a hook at. 0.99

01:34:16.000 He's basically being a hootie, right? 0.96

01:34:18.000 He's basically being a hootie, right? 0.96

01:34:19.000 I live in a small town.

01:34:21.000 Oh no, we got that one.

01:34:23.000 Baywoods goes, I live in Dallas and I buy cars off the auctions and flip them.

01:34:26.000 This is opening my mind to keeping the cars and renting them.

01:34:29.000 Love this information.

01:34:30.000 We got you, Baywoods.

01:34:31.000 See, that guy's going to win because he's getting cars so cheap off the auction that he will not lose on depreciation.

01:34:37.000 He had a straight cash flow for him.

01:34:39.000 That's why you don't buy new cars.

01:34:41.000 So, the goal is to get the car as cheap as you can.

01:34:43.000 Hopefully not stolen, by the way, guys.

01:34:45.000 And then go ahead, flip it, and start renting it out.

01:34:47.000 That's probably better than selling it.

01:34:49.000 It's better than selling it.

01:34:50.000 For sure.

01:34:51.000 It's cash flow you're creating for selling.

01:34:52.000 Exactly.

01:34:53.000 Consistent cash flow.

01:34:54.000 Ike A goes, heard what you guys said to the guy from Nevada.

01:34:58.000 I currently fix up cars and sell them in the Dallas area.

01:35:01.000 What cars do you think would be best to start with for a car rental business in this region?

01:35:06.000 Did we say Nevada?

01:35:07.000 Dallas.

01:35:08.000 Dallas.

01:35:08.000 Okay, Dallas.

01:35:09.000 That's a great city.

01:35:10.000 It's a huge city.

01:35:11.000 There's so much going on.

01:35:12.000 Probably do some exotics there.

01:35:14.000 For sure.

01:35:14.000 It gets cold as well.

01:35:15.000 You know, so you have to take that into consideration.

01:35:17.000 All of those cities are going to get cold.

01:35:19.000 So, my answer kind of remains the same.

01:35:20.000 Those SUVs are always going to do well.

01:35:22.000 Yeah.

01:35:22.000 But, you know, I think those sports cars will...

01:35:25.000 Dallas is a beautiful city in the summertime.

01:35:26.000 They're probably pretty well.

01:35:27.000 Corvette would do really well, for sure.

01:35:29.000 For sure, for sure.

01:35:30.000 Yep.

01:35:31.000 Yep.

01:35:31.000 Yeah.

01:35:32.000 Uh...

01:35:33.000 How's the maintenance on the exotics, and how do you know when to sell slash swap them out around?

01:35:36.000 How many miles do they usually have before you sell them or stop renting them out?

01:35:39.000 Good question, Albo.

01:35:40.000 Good question.

01:35:40.000 So it depends on the exotics.

01:35:41.000 Like, Lamborghinis are bulletproof.

01:35:43.000 I had a Huracan on the fleet at 70,000 miles, and it drove like new, no issues at all.

01:35:48.000 And then you have Ferraris, which are more problematic.

01:35:50.000 You know, McLarens are the absolute worst car maintenance-wise.

01:35:54.000 I know from my experience, bro, McLarens, bro.

01:35:56.000 Didn't it break down on you one time?

01:35:58.000 Bro, my first exotic car I bought.

01:36:01.000 Actually, I did a vlog about it on my channel.

01:36:03.000 I'm ready, bro.

01:36:04.000 I spent years going to car shows, parking in the back with my Toyota Camry.

01:36:07.000 I'm like, yes, I'm finally going to a car show.

01:36:09.000 This is amazing.

01:36:10.000 I pull up to Pines Boulevard, right next to the Hooters, right?

01:36:14.000 Bro, the car breaks down.

01:36:17.000 Dude, I am livid.

01:36:18.000 A girl that had been on the show saw him in there.

01:36:20.000 Yeah, 10 minutes away from the car show.

01:36:23.000 I'm like, yeah, my first car show with my exotic car.

01:36:25.000 I can't wait.

01:36:26.000 Blue McLaren.

01:36:28.000 Car breaks down.

01:36:29.000 I'm like, what's going on here?

01:36:30.000 Whatever, whatever.

01:36:30.000 Luckily, one of the girls from the show, I forgot her name, came with some food for me, but it was terrible, bro.

01:36:36.000 I spent hours there waiting for a tow truck. 1.00

01:36:38.000 Yo, McLaren just suck ass, bro. 1.00

01:36:40.000 Yeah. 1.00

01:36:40.000 McLaren suck, man. 1.00

01:36:41.000 Sucks. 1.00

01:36:41.000 Terrible builds. 1.00

01:36:42.000 Great cars.

01:36:43.000 Fun to drive.

01:36:43.000 They look great.

01:36:44.000 But terrible builds.

01:36:45.000 So a car like that is going to cost you a lot of maintenance.

01:36:47.000 You know what I kind of like put a like into?

01:36:50.000 A hot chick that is high maintenance. 1.00

01:36:53.000 Yes.

01:36:53.000 She looks good.

01:36:54.000 Beautiful eye candy.

01:36:56.000 But to maintain her, bro, can cost some money. 1.00

01:36:58.000 Fuck that shit, nigga. 1.00

01:36:59.000 Not worth it, bro. 1.00

01:37:01.000 It's not worth it, bro.

01:37:01.000 Hell no.

01:37:02.000 No, especially when you're trying to make money, because the last thing you want to do is have a car sit in the shop.

01:37:06.000 Yeah.

01:37:06.000 So what I recommend is get a pre-inspection done on these cars.

01:37:10.000 Bring a mechanic to the dealer.

01:37:11.000 Pay him a couple hundred bucks to look at cars with you, to take them for a test drive.

01:37:15.000 Because I've had investors buy cars from dealerships, right off the lot, boom, engine lights on, 10K. Damn. 0.99

01:37:22.000 So you've got to be so careful. 0.99

01:37:23.000 And also, something that you do pretty well, Jaden, is you have a local mechanic that you guys work with for any issues at all for the cars.

01:37:30.000 So anything goes wrong with the car, forget the dealership.

01:37:31.000 Exactly.

01:37:32.000 And he's almost given us his cost and everything because we give him so much business.

01:37:35.000 Yeah.

01:37:35.000 So an oil change on a Bentayga, we just did one, that would have costed $1,500 of the dealership, cost us like $300.

01:37:40.000 Yeah.

01:37:41.000 Okay.

01:37:42.000 What else do you got here?

01:37:44.000 That's it?

01:37:44.000 One last one.

01:37:45.000 Okay, last one right here.

01:37:47.000 Big things will go on.

01:37:48.000 Yeah, you're good.

01:37:49.000 Okay.

01:37:50.000 Yeah, this has motivated me to do this.

01:37:52.000 So this, along with my trucking business, is going to be profitable, especially here in Huntsville.

01:37:58.000 It's growing like crazy here.

01:38:00.000 Okay.

01:38:00.000 Huntsville, Alabama.

01:38:01.000 I'm sorry.

01:38:02.000 So you said it's going like crazy out here.

01:38:03.000 Cool.

01:38:04.000 And then Devontae goes, can you start a rental car business with classical cars and is it profitable?

01:38:09.000 Too difficult.

01:38:10.000 Too niche.

01:38:11.000 I wouldn't do it.

01:38:12.000 Yeah, it's a little too niche.

01:38:14.000 Yeah.

01:38:15.000 Anything else?

01:38:16.000 Yeah, one more.

01:38:17.000 Have you ran ads to a landing page and get clients there?

01:38:21.000 How was that and do you recommend?

01:38:23.000 I'm a guy that don't like to have his business depend on a platform.

01:38:27.000 To be honest, most of our growth and our- Referrals.

01:38:31.000 Yeah, we get a lot of word of mouth clients.

01:38:32.000 We work a lot of brokers, so we don't really spend money on ads when it comes to finding clients.

01:38:36.000 We just get so many people sent our way.

01:38:39.000 And this is why if you're a good business in the car space, people trust you and they respect you and they push you everywhere because the business is kind of shady sometimes.

01:38:46.000 And that's the good thing with starting with Turo, building up that clientele, moving in private and then getting word of mouth.

01:38:52.000 Exactly.

01:38:52.000 And you get your feet wet.

01:38:53.000 You'll gain that experience.

01:38:54.000 So when you do go private, you'll know how the insurance works.

01:38:56.000 You'll know how everything works.

01:38:57.000 And for anyone saying this is a scam, I dare you to do your own business, stand for this long, have this many clients, and still be intact.

01:39:05.000 It's impossible.

01:39:06.000 Yeah.

01:39:07.000 So, 100%.

01:39:08.000 Cool.

01:39:09.000 So, guys, hope you guys enjoyed that episode, man. 0.97

01:39:11.000 This was fucking fantastic. 0.94

01:39:13.000 It was. 0.98

01:39:13.000 I think probably one of our most thorough episodes when it comes to how to start a rental car business. 0.98

01:39:16.000 Masterclass.

01:39:17.000 Jaden, what can I find you, bro?

01:39:20.000 So, if you guys are interested, you know, maybe you want mentorship or you're interested in mentorship, you want to ask more questions about the car rental game and how to get started, shoot me a DM on Instagram.

01:39:29.000 My Instagram's at jcannonbloom.

01:39:30.000 I'll respond to everybody that comes through.

01:39:32.000 Just say you came from the stream and, you know, I'm really looking forward to getting you guys started if this is a company that you guys want to get your feet wet in.

01:39:38.000 Cool.

01:39:39.000 Bam.

01:39:40.000 Guys, hope you guys enjoyed that, man.

01:39:41.000 Like the video, guys, on YouTube.

01:39:42.000 Like it on Rumble as well.

01:39:43.000 We'll be back in about 10.20 p.m.

01:39:45.000 with some girls.

01:39:46.000 We'll catch you guys in the next episode.

01:39:47.000 Peace.

Fresh & Fit - February 27, 2024

How To Start A Car Rental Business ft. Murci Luxury

Episode Stats

Summary

Transcript