How do you get insurance starting out? I dont want to get sued if someone crashes my car and while turo provides coverage, how reliable is that? Also I dont want my insurance to decline me if I crash my car because I was also using Turo and that "violates their policy." How do you setup an llc and do Turo the right way?
@@ramseyalfantazi5981 that makes sense… at what point (if ever) will this to draw an income? I want to make my expectations reasonable of when I can start taking income; or is it simply like an investment; then at some point down the road, cash out? Thank you for your help on this…
@@kingofrentals How ‘bout for you and your brother? Do you take a draw of a certain percentage?, or simply reinvest 100% back into the business? thank you!
@@erikcarlson1562 good question, the goal is to continue to scale as quickly as possible, keep in mind traditionally vehicles are seen as liabilities. In this business I see them as assetts so even though I don't see income in the growth stage the number of vehicles continues to grow which means very liquid assetts.
Hey guys I’m interested in starting a Turo business I’m trying to figure out my local market when you view a host’s profile and it says they did a certain amount of trips does that mean if it says 20 they did that in a month a year or their whole Turo career?
OPC. Other Peoples Cars. These guys have it figured out how to scam its Cohosts. If the Turo business is so profitable, they would be doing it themselves and not telling anybody about it.
thank you for having me, it was a pleasure!
Great interview, hopefully we can done one together next, its crazy to think that I only have 17 car fleet and also makes $30,000 per month!
Revenue or profit
@@ssj4naka Even revenue's a stretch
I'm the biggest Turo host in Canada , also in Vancouver, I have 80 cars on Turo, 33 cars won't bring you $30,000 per Month,
You think its less then 30k? For 33 cars?
More like 10k if lucky. Not a great business. Too much headache. Canada will tax you to hell too
@@AH-mj1rd yes, right
How do you get insurance starting out? I dont want to get sued if someone crashes my car and while turo provides coverage, how reliable is that? Also I dont want my insurance to decline me if I crash my car because I was also using Turo and that "violates their policy." How do you setup an llc and do Turo the right way?
very starlight forward and informative conversation.
Ask these folks what percentage of a draw that they pay themselves, vs. keeping in the business per month. Thanks! Keep up the great work!
Great question!
we reinvest 100% of our gross profits back into the business.
@@ramseyalfantazi5981 that makes sense… at what point (if ever) will this to draw an income? I want to make my expectations reasonable of when I can start taking income; or is it simply like an investment; then at some point down the road, cash out? Thank you for your help on this…
@@kingofrentals How ‘bout for you and your brother? Do you take a draw of a certain percentage?, or simply reinvest 100% back into the business? thank you!
@@erikcarlson1562 good question, the goal is to continue to scale as quickly as possible, keep in mind traditionally vehicles are seen as liabilities. In this business I see them as assetts so even though I don't see income in the growth stage the number of vehicles continues to grow which means very liquid assetts.
If you close your eyes… this is a cool drake interview
How many months in the Phoenix metro does it go dead for? I bought one SUV for turo and am a bit worried by this.
Good stuff!!!
if someone brings 1 car, 5 cars, 10 cars, would the split remain at 35% ?
Folks, how do you file them
Turo taxes?
Hey guys I’m interested in starting a Turo business I’m trying to figure out my local market when you view a host’s profile and it says they did a certain amount of trips does that mean if it says 20 they did that in a month a year or their whole Turo career?
That is for their whole turo career.
Thanks so much for getting back to me
Dod you say HQrentals? For private rental?
Yes we use HQ rentals
OPC. Other Peoples Cars. These guys have it figured out how to scam its Cohosts. If the Turo business is so profitable, they would be doing it themselves and not telling anybody about it.