In this episode of Money Monday, we talk about how to run a rental car business, and how to get started in the rental car space. We also talk about Jaden Bloom and how he came up with the idea to start his own rental car company, and what it takes to run such a business. We also discuss how he got his start in the car rental space, and why he decided to go all in on it. And as always, thank you for tuning in to Money Monday! The show is brought to you Live on all of the major streaming platforms, so make sure to check us out on all the platforms right now, RumbleRantIn, FedReactions, and FNFSuperChat. If you like what you hear, please HIT SUBSCRIBE on your favorite streaming platform so you get notified when new episodes go live! You can also join our FB group where we discuss all things Money Monday. Subscribe, rate, and review the show on Apple Podcasts, and stay up to date on all social media with the latest in sports and business news! Cheers, EJ & Fresh! See ya next Monday! Cheers! - The Fresh Bros. - EJ, Egan & Jayden - Fresh, Ej, Ejayden, and EJ's Dad, Jaden, E.J., EJ. & EJ the gang! EJ brings you the best sports podcast in the world! - Fresh's Dad EJ talks about the UFC, UFC, and much more! -EJaden Bloom & Ej's Dad talks about how he was born in Vancouver, BC, Canada! - Ej talks about being raised in Vancouver BC, and growing up in a small town! - Jayden talks about his love of the game, and gives us some tips and tricks on how to start a rental cars, and talks about what it's going to be a good time in Vancouver! - And EJ gives us a little bit of his story about his childhood growing up on the road with his first rental car! - and what he's doing to get into a car, and so much more. - and how it's all about it all! - Thank you for listening to EJaden's story! , EJ and Ej gives us all a chance to get to know EJ s story about it. EJ gets it all in depth! - Thanks EJ!
00:05:11.000Also, check us out on CastleClub.tv, guys.
00:05:12.000That 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.
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00:05:28.000I 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.
00:06:19.000And 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.
00:06:28.000And 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.
00:06:37.000I won't say who it is, but we had Andrew Tate on recently.
00:11:42.000For me, my first lease was a BMW, $0 down, and I paid like $900 a month for it.
00:11:49.000I was renting it on tour for $200 a day, and I was going on 15 days a month.
00:11:52.000And 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.
00:12:26.000I'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.
00:12:41.000So it's like you have a variety of people from cars alone.
00:13:59.000I 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.
00:15:54.000Houston, huge YouTuber, has like a million subs.
00:15:56.000They're the only company in the United States that had an SVJ, and the marketing alone with that car is just incredible.
00:16:02.000And 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.
00:16:11.000But 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.
00:18:14.000Okay, 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?
00:18:52.000You go through the ups and downs to really perfect your systems.
00:18:55.000So, 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.
00:19:00.000And down here, the local clientele are the guys that are going to cause the most issues.
00:19:04.000So, we were getting guys renting URSS for two days, putting 700 miles on the car.
00:20:07.000Their insurance company that's on board with them won't cover any car with 75k.
00:20:12.000So that's another thing I wanted to say.
00:20:13.000Turo 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.
00:20:23.000But 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.
00:20:30.000It's just too difficult and you will not make good money and you will not scale that quickly.
00:20:33.000Profit margins are low, too many rules, saturated, yeah.
00:20:42.000So 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.
00:20:51.000If 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?
00:21:07.000So, 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.
00:21:16.000So you want to get your feet wet on Turo, kind of learn the business, because the business off Turo is very similar, right?
00:21:20.000Clients will either pick the car up, you'll go deliver, you'll make sure the car is good, you do their inspections.
00:21:25.000Something 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.
00:21:32.000So it kind of teaches you, okay, what to look for in your before photos and after photos.
00:21:35.000Because 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.
00:21:41.000It's one of the examples where people picked up cars, but then when they brought them back, they were actually damaged.
00:21:48.000Yeah, I've had some of my guys, because I have a full team now.
00:22:54.000So it's a great way to, I guess, get the training wheels in and figure out how to go about this from the beginning.
00:22:59.000But 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?
00:23:05.000I'd say once you get above two, three cars, try and get off.
00:23:08.000Especially if you have the goal of scaling and getting more cars.
00:23:14.000And 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.
00:23:22.000We're growing our private rental car company.
00:23:24.000You get hit with fees, we get hit with fees.
00:23:38.000And 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.
00:23:46.000But what you're able to do is convert those people over to your private side.
00:23:54.000So the more reviews you have, the higher they push it to the top.
00:23:57.000So the more people that rent, the better reviews you have.
00:24:00.000You're just going to be sitting at the top all day and people are going to rent from you all day.
00:24:03.000Is 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?
00:24:36.000Once you expand past three, create obviously your side business and then try to pull as many people off of Turo to your private business.
00:24:43.000Because 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.
00:25:15.000You may get extra cars, whatever it may be, but that's the relationship you build that person and the company.
00:25:19.000So 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.
00:25:25.000What 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?
00:26:03.000I'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.
00:26:15.000You 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.
00:26:22.000I can see why this would be a really good entry-level car.
00:26:25.000Yeah, and we actually have one in the fleet.
00:29:16.000It's like, you know, American muscle and everything else like that.
00:29:20.000So, 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?
00:29:30.000So cars that are always solid to you are like Suburbans, Escalades.
00:29:33.000So I have a few students right now that live in like seasonal areas.
00:30:08.000It's actually talking off right now a little bit.
00:30:10.000But basically what I was saying is When you buy a new car, it's going to depreciate no matter what, right?
00:30:15.000You buy a car at zero miles, even with 800 miles, it's depreciating, you know?
00:30:20.000So when you buy a car that's already depreciated a lot, you're basically buying it almost at the end of its depreciation cycle.
00:30:26.000So 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.
00:30:32.000If you have a good mechanic, everything's going to be super cheap.
00:30:39.000So 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?
00:30:44.000That's the first thing you should get?
00:30:45.000On the payroll or just a really solid relationship with a good mechanic.
00:31:24.000But, I mean, yeah, there's a lot of sketchy areas out there, too, in Fort Lauderdale.
00:31:29.000But 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.
00:33:32.000But they have all the way up to level five.
00:33:33.000So depending on what your risk tolerance is...
00:33:36.000Like, I've been doing this for so long, and I know I have such good clientele.
00:33:39.000If I don't feel like I need to do a level 5 or a level 4, I'm good with a level 2.
00:33:42.000But 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.
00:33:49.000Or if you're in a higher crime area, maybe you're in a Detroit, would it be better for you to get like a...
00:34:31.000So, I mean, people do, like, they go to, like, extreme extents to really verify their needs of their clients.
00:34:36.000And there's a scam where girls come in to rent a car.
00:34:39.000Now, 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?
00:34:47.000It's like, why are you there by yourself for a Lamborghini?
00:34:52.000I 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.
00:39:17.000So how should they go about doing that?
00:39:18.000Because 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.
00:39:26.000There'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.
00:39:33.000I 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.
00:39:41.000And it's really saved us from rentals.
00:39:43.000I mean, I've had people Try and rent a Culloden with Grand Theft Auto from a year ago for $200,000.
00:41:02.000So 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.
00:41:11.000And you said your problematic clients are always the ones that are here.
00:42:50.000We 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?
00:42:55.000So we really look at the car on policy.
00:42:57.000Oh, you look at the cars that they have.
00:44:41.000So 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.
00:44:59.000Because the one major risk that everybody always asks about is what if somebody dies in that car, right?
00:45:05.000If 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?
00:45:14.000So if you're personally on that car that is a liability run versus an LLC where you're not going to be personally liable.
00:46:22.000But 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.
00:46:30.000I think it's good to mention, whenever you get a car to rent out, think about these things before you even do it.
00:46:34.000The precautions you have to take because it is a lot of responsibility and you're liable for it if you're not careful.
00:46:40.000Also, I always wanted to build an Airbnb business, or I was always interested in e-com.
00:46:46.000I wanted to build something that was somewhat passive.
00:46:48.000But for me, the cars, I always was just driven towards the cars.
00:46:50.000I'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.
00:48:12.000Yeah, and I mean, you don't have to deal with the, because he handles all the rentals.
00:48:16.000He has the clients and everything else.
00:48:17.000The 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.
00:48:27.000But if you rent it out, you're making money and more.
00:48:55.000And 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.
00:49:00.000But one of the claims with the open was on a Eurus.
00:49:03.000One of the clients damaged the front end.
00:49:05.000She was fully covered, of course, so we went after her insurance.
00:49:08.000We paid $4,000 out of pocket to get the car fixed and back on the road the next day.
00:49:11.000And insurance ended up paying us $35,000 in three months.
00:49:21.000But 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.
00:49:28.000I mean, we always get top dollar on these claims.
00:49:31.000And 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.
00:49:37.000So there's really no liabilities when it comes to the rental game.
00:52:32.000So 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.
00:52:47.000And kind of base off what cars do well off of that.
00:52:51.000You 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.
00:53:30.000And then once you get, you said, two to three or above, start weaning it off and doing it privately, right?
00:53:36.000And what these guys will find too is, you know, every car you kind of get, It goes up in value, up in value.
00:53:42.000Very rarely you're ever going to get more cars that are kind of going below value, right?
00:53:45.000So 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.
00:54:46.000Fresh, can you explain why you shouldn't buy a new car?
00:54:48.000Because 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?
00:55:03.000Got a credit score of 745 from you guys.
00:55:07.000We 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.
00:55:13.000So 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.
00:55:23.000Will people want to even rent Supras to give him an option, I guess?
00:55:27.000To be honest, a manual Supra, you should keep that for yourself.
00:56:31.000I 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.
00:56:43.000You're going to experience a car for real.
00:56:44.000You go to a dealership like you just said, drive it down the block, you don't really feel in the car.
00:56:48.000Like when you got your G-Wagon, right?
00:56:49.000We drove to Cario in the G-Wagon that we had in the fleet.
00:57:27.000So 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.
00:59:06.000And just a lot of power, too, so something could go wrong if somebody doesn't...
00:59:08.000Can you charge quite a bit of money on them, though, if someone did want to go and have this American muscle fleet?
00:59:12.000Still 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.
01:02:32.000Because you're just going to lose so much money driving that off the lot and racking up miles.
01:02:36.000I 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.
01:02:46.000I mean, you're not going to lose much money.
01:02:48.000This is a little bit more of a nuanced question.
01:02:49.000Since 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?
01:05:13.000So we say, hey, we're calling from a recorded line, calling from Mercy Luxury Car Rentals.
01:05:19.000And 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.
01:05:52.000I'm 22, 780 credit score, and about 50K saved in my first job out of college.
01:05:58.000Any tips for getting started in real estate?
01:06:01.000You're going to need more money than $15,000, bro, depending on where you live.
01:06:06.000Housing prices have definitely went up.
01:06:08.000But, 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.
01:06:16.000I 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.
01:06:34.000I 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.
01:11:34.000Do 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?
01:11:41.000If so, what clients do you see their business expanding to?
01:12:31.000Yeah, but they come here visiting, so it's kind of already been screened.
01:12:33.000So 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.
01:12:40.000Just people that want to take a card for the weekend, etc.
01:12:43.000Because he said there's not a lot of people coming into Atlanta looking to spend a lot of money like that, like Miami.
01:12:48.000So it's just any local clientele that you're dealing with is going to cause more headaches.
01:13:09.000How much money should you have to start a luxury car dealership rental service?
01:13:14.000And would it be smart to have them both together or just do rentals instead of actually selling them too?
01:13:18.000I 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.
01:13:25.000And I think a lot of these dealerships aren't doing that, which I think is a huge plus.
01:13:30.000So if you're looking to start a dealership and a rental car company, there's no problem doing both at the same time.
01:14:09.000So 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.
01:14:16.000Those that are interested either, even to make an extra $2,000, $3,000, $4,000, $5,000 a month.
01:14:20.000We have those guys and we have guys that want to build a 20-car fleet.
01:14:23.000This business is perfect for both of those demographics.
01:14:27.000But we're teaching people how to build their own exotic car in the company.
01:14:30.000And 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.
01:14:43.000We have no problem just giving them cars that we already have.
01:14:46.000So we're actually going to get a lot of these guys their first vehicles that are in our program.
01:15:57.000I wanted to live under the sun all year round.
01:15:59.000Decided to start this company and it just opened so many doors for me.
01:16:02.000So 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.
01:16:08.000What really changed the game for me is I actually hired a mentor for $15,000.
01:16:12.000I had a guy who came to me, yo, I'm looking to sell my exotic car as a company.
01:16:17.000I didn't really want to purchase his brand.
01:16:49.000What would you say, because I see that you're like real big on downsizing, whatever.
01:16:52.000What 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?
01:16:59.000Because 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.
01:17:04.000And I see that you're trying to downsize.
01:17:05.000What do you think is the best number based on people's experiences?
01:17:26.000So my clientele is only ultra high-end.
01:17:28.000They want Cullinans, they want Huracans, they want Ferraris.
01:17:31.000I don't move the lower tier cars nearly as much.
01:17:33.000So 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.
01:17:40.000They're going to get that car out a lot more than me just because my clientele isn't that kind of clientele.
01:17:44.000But when you're first starting, your clientele is always that kind of clientele.
01:17:47.000When 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.
01:17:57.000So I think 10 to 15, but quality over anything.
01:18:01.000Don't get cars that you think they're going to move and they don't end up moving.
01:18:04.000Really be sure about the cars you're getting and really do your research before.
01:18:08.000Do not be stuck holding a car that's not going to move because that is the worst thing ever.
01:18:39.000So 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.
01:20:22.000No, 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.
01:20:33.000I mean, look, this year we're making money.
01:20:42.000It's perfect because a lot of people have a passion when it comes to cars.
01:20:45.000A lot of people want to drive these higher-end cars and they can't afford it.
01:20:49.000So 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.
01:20:56.000And 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.
01:21:03.000And then I figured out, after learning from people, I could rent the car out.
01:21:23.000So, 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.
01:21:34.000I'd probably get two Escalades, and I would get one nice sports car, but I don't think I'd get a Huracan.
01:21:39.000I'd probably get like a C8, something like that.
01:21:41.000A little bit lower end, that's still a sporty car.
01:21:43.000Those cars, you are printing, like guaranteed, guaranteed.
01:22:19.000You guys are asking us some really good questions by the way, man.
01:22:22.000How do I go about finding a place to store vehicles when they are not rented?
01:22:26.000So, 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.
01:23:57.000So 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.
01:24:04.000I need you to have full rental coverage.
01:25:54.000How should someone, how long should someone wait?
01:25:56.000Because that's a really good rubric there.
01:25:57.000How 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?
01:26:39.000Something 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.
01:26:46.000So that car pays for itself for a whole year.
01:26:49.000Let's say car payment is $4,000 a month and it's only making $4,000 every single month.
01:26:53.000Well, that's 50 grand that you put into that car that's pretty much free money.
01:26:57.000Look at it as a renter when they rent from you for your mortgage.
01:31:51.000It 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.
01:31:58.000I mean, think about that for a second.
01:32:00.000You have 30 days out of the month, all you need is four days to break even, and these people are renting all the time.
01:32:05.000So many people want a Huracan, they want to drive a Huracan, but they can't afford one.
01:37:23.000And 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.
01:37:30.000So anything goes wrong with the car, forget the dealership.
01:38:23.000I'm a guy that don't like to have his business depend on a platform.
01:38:27.000To be honest, most of our growth and our- Referrals.
01:38:31.000Yeah, we get a lot of word of mouth clients.
01:38:32.000We work a lot of brokers, so we don't really spend money on ads when it comes to finding clients.
01:38:36.000We just get so many people sent our way.
01:38:39.000And 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.
01:38:46.000And that's the good thing with starting with Turo, building up that clientele, moving in private and then getting word of mouth.
01:38:57.000And 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.
01:39:20.000So, 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.
01:39:30.000I'll respond to everybody that comes through.
01:39:32.000Just 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.