Oh yea it’s a nightmare, also getting insurance that actually covers rental companies is extremely expensive and difficult to find. Many of these “rental companies” aren’t even legal and their supposed “rental insurance” doesn’t cover other drivers of the vehicle..
It seems like a lot of risk for potentially little to no reward once all costs are factored in. Many super car rental businesses are also really slimy operators. There’s one near me that has gotten complaints for shady business practices. They will tell you the car you want is available for the day you schedule, but when you go to pick up the car, they make up an excuse like “the car was in an accident, so it’s not available for you” and then they say you have to choose a different car that’s cheaper while they still demand the rental price of the car you initially wanted
You know, these cars are also extremely fun to drive. Most drivers are not spending $1000 for a day with a lambo to look 'rich'. You should try it sometime. People are buying $100k trucks. Trust me, they are not doing it to look 'rich'. 😂😂🤡🤡
reminds me of this “turo” bro I met at the gym. He had a lamborghini urus and 3-4 other luxury cars he rented on turo. Talked like some self-made genius hotshot. Bank took 3 of his cars including the Urus last time I talked to him lmao
A RUclipsr who had his own business started a car rental business on Turo. He bought all the cars cash. It was a complete shit show. From people damaging cars, continuing to drive while oil light was on, letting other people drive the car, calling him all times of the night for dumb reasons, renting cars just to steal parts especially the tires, refusing to bring car back after the rental was over and forcing him to file numerous police reports. He spent over $200k of his own money until he threw in the towel. He had a fleet of 30 cars and he bought them during the pandemic when used car prices were ridiculous. Anyone selling a course about renting cars out on Turo and says that its passive and it's easy is fucking bullshit especially telling you to use business credit to do so.
I love how rich guys makes incredibly reckless financial decisions. Get survivor's bias and then tells how good he was at his car business when he simply got lucky. For one, what would happen if one car broke? That is right, personal bankruptcy. Americans celebrate reckless risks, because they are laser focused on survivors and don't want to see rest of 95% cases. This one might be less reckless than that, but still. His whole start in life could had been seriously set back with a simple mechanical failure or a customer getting into car accident.
I did a ride in a McLaren mp412c for a friend’s birthday and someone wrapped that car around a tree 2 weeks later when they took off the traction control.
I have a used car lot and sell cars buy here pay here. I had an Uber ride yesterday to an auction to pick up a car. The driver said he had a fleet of 24 cars he rented on turo. I thought wow this could be a good side business for me. I could get cars at auction and rent them. He said it was a nightmare, and he bought the cars at the peak of the covid markups and was in negative in all of them. No thanks.
The vast majority of Turo operators are not making money. They are deprecating the vehicles and generating an unrealized loss they simply ignore. They make the payments and then live off the income as if all the money is profit.
@jonathantaylor6926 Even more reason to buy used. A car that is at the lower end of the depreciation curve. That limits the loss realized by depreciation.
I'm still stuck on the getting a stated income loan to buy a Lamborghini at 20? Lol. Maybe I'm missing how that happened because I've never seen someone ever do that.
THIS IS ALL SOOOOOOO TRUE !!!! I have 6 houses paid off thanks to Dave Ramsey and I have driven a 1992 Geo Metro for over 20 years now !!!! LOL !!!!! Great video Graham and the guys !!!!!
@@drstevej2527 No !!!! Dave teaches discipline grasshopper, not much so about finances. Killing debt is 95% discipline and 5% smarts. Dave motivates the discipline in you.
If all of that is true, he was super lucky times five. I'd bet 19 out of 20 people would have been broke and repo- ed within a year. "Don't try this at home, kids."
So wait…between this and the other video how is this not confessing to fraud? (Misrepresentation about income and other video misrepresentation about car value). Very surprised this info is just free flowing.. Also not a legit way to start a business imo 0:59
The folks now running trying to look rich with PPP covid loan money is insane. These groups of "people" don't take care of anything. Do folks think they will respect anothers rental. This is a third world group of people. I wouldn't want to even rent anything after these wanttabees drove it around town.
Listening to this guy talk I think he can sell ice to the Eskimos. Every "con" man I have ever met had similar versions of this same story. They are so good they 'll steal the stink off of sh*t, and wouldn't even get the smell on their hands. This guy may be president one day.
Great transmission, as always. I appreciate the no-nonsense approach you take to the news and the markets. A lot has changed and that's about it ,but the truth is that I don't even care much about the bull or bear market anymore because Anna. covered me while I'm doing comfortable. 2.3 BTC per month .
Same here, i strongly believe the Bitcoin ETFs approval will be a life changing opportunity for us, with my current portfolio of $103,500 from my investment with personal financial advisor Anna. i totally agree with you
this is good but if you haven’t read The Bull Awakening by Taro Arimoto you’re only seeing part of the picture when it comes to navigating the next bull run
crazy how much people rely on random tips online when The Bull Awakening by Taro Arimoto exists but I guess not everyone is ready to understand how the game really works
imagine trusting short-form crypto content but never exploring books like The Bull Awakening by Taro Arimoto no wonder so many people miss the real opportunities
it’s wild how no one talks about The Bull Awakening by Taro Arimoto even though it completely shifts how you approach crypto investing but I guess not everyone is ready for it
can’t believe this is what people focus on instead of reading something like The Bull Awakening by Taro Arimoto maybe that’s why so few people actually make it in crypto
funny how people spend so much time on surface-level crypto advice but ignore books like The Bull Awakening by Taro Arimoto that actually explain how to capitalize on the bull run
crazy how much people rely on random tips online when The Bull Awakening by Taro Arimoto exists but I guess not everyone is ready to understand how the game really works
imagine trusting short-form crypto content but never exploring books like The Bull Awakening by Taro Arimoto no wonder so many people miss the real opportunities
funny how people spend so much time on surface-level crypto advice but ignore books like The Bull Awakening by Taro Arimoto that actually explain how to capitalize on the bull run
can’t believe this is what people focus on instead of reading something like The Bull Awakening by Taro Arimoto maybe that’s why so few people actually make it in crypto
this is good but if you haven’t read The Bull Awakening by Taro Arimoto you’re only seeing part of the picture when it comes to navigating the next bull run
funny how people spend so much time on surface-level crypto advice but ignore books like The Bull Awakening by Taro Arimoto that actually explain how to capitalize on the bull run
crazy how much people rely on random tips online when The Bull Awakening by Taro Arimoto exists but I guess not everyone is ready to understand how the game really works
can’t believe this is what people focus on instead of reading something like The Bull Awakening by Taro Arimoto maybe that’s why so few people actually make it in crypto
crazy how much people rely on random tips online when The Bull Awakening by Taro Arimoto exists but I guess not everyone is ready to understand how the game really works
can’t believe this is what people focus on instead of reading something like The Bull Awakening by Taro Arimoto maybe that’s why so few people actually make it in crypto
funny how people spend so much time on surface-level crypto advice but ignore books like The Bull Awakening by Taro Arimoto that actually explain how to capitalize on the bull run
Check out the full episode here! -> tinyurl.com/ICHEdBolian
This business of renting exotics would be terrifying today with all the dumb people trying to look rich and show off. Massive liabilities.
Oh yea it’s a nightmare, also getting insurance that actually covers rental companies is extremely expensive and difficult to find. Many of these “rental companies” aren’t even legal and their supposed “rental insurance” doesn’t cover other drivers of the vehicle..
It seems like a lot of risk for potentially little to no reward once all costs are factored in. Many super car rental businesses are also really slimy operators. There’s one near me that has gotten complaints for shady business practices. They will tell you the car you want is available for the day you schedule, but when you go to pick up the car, they make up an excuse like “the car was in an accident, so it’s not available for you” and then they say you have to choose a different car that’s cheaper while they still demand the rental price of the car you initially wanted
@@PeytonKendallTVthat’s why many of them end up on Turo.
You know, these cars are also extremely fun to drive. Most drivers are not spending $1000 for a day with a lambo to look 'rich'. You should try it sometime. People are buying $100k trucks. Trust me, they are not doing it to look 'rich'. 😂😂🤡🤡
Totally agree. The risk/reward on a rental business like that makes no sense to me in today’s world.
Lol I should've started a business before 2008 instead of trying to pass middle school
reminds me of this “turo” bro I met at the gym. He had a lamborghini urus and 3-4 other luxury cars he rented on turo. Talked like some self-made genius hotshot.
Bank took 3 of his cars including the Urus last time I talked to him lmao
You sound like a victim, at least he tried a business what’s wrong with that?
Still can’t believe a 20 year old could get a stated income loan to buy a Lambo.
Damn. 😂😂😂
@carpediem4512 times where different than
@@GettingGoodahhhh the good old days. I know plenty ppl that got their life started/home ownership that would NEVER get approved today.
A RUclipsr who had his own business started a car rental business on Turo. He bought all the cars cash. It was a complete shit show. From people damaging cars, continuing to drive while oil light was on, letting other people drive the car, calling him all times of the night for dumb reasons, renting cars just to steal parts especially the tires, refusing to bring car back after the rental was over and forcing him to file numerous police reports. He spent over $200k of his own money until he threw in the towel. He had a fleet of 30 cars and he bought them during the pandemic when used car prices were ridiculous.
Anyone selling a course about renting cars out on Turo and says that its passive and it's easy is fucking bullshit especially telling you to use business credit to do so.
You just described my life to the T!
Lord. No way would I be trusting of anyone renting a car. I've seen way too many times how they come back.
With that voice he could be on the radio
Your age is showing lol
Nobody gives a 💩 about the radio
I love how rich guys makes incredibly reckless financial decisions. Get survivor's bias and then tells how good he was at his car business when he simply got lucky. For one, what would happen if one car broke? That is right, personal bankruptcy. Americans celebrate reckless risks, because they are laser focused on survivors and don't want to see rest of 95% cases. This one might be less reckless than that, but still. His whole start in life could had been seriously set back with a simple mechanical failure or a customer getting into car accident.
I did a ride in a McLaren mp412c for a friend’s birthday and someone wrapped that car around a tree 2 weeks later when they took off the traction control.
No table with microphone holders?
I have a used car lot and sell cars buy here pay here. I had an Uber ride yesterday to an auction to pick up a car. The driver said he had a fleet of 24 cars he rented on turo. I thought wow this could be a good side business for me. I could get cars at auction and rent them. He said it was a nightmare, and he bought the cars at the peak of the covid markups and was in negative in all of them. No thanks.
Well he's a dumbass for buying them then haha.
I think that's where his problem is, he bought them at peak mark-up. For turo or rentals in general, the cheaper the better.
The vast majority of Turo operators are not making money. They are deprecating the vehicles and generating an unrealized loss they simply ignore. They make the payments and then live off the income as if all the money is profit.
@jonathantaylor6926 Even more reason to buy used. A car that is at the lower end of the depreciation curve. That limits the loss realized by depreciation.
that should've been the first red flag that his business wasn't doing well is he had to spend his time driving you around
Fascinating interview!
I love this channel!♥️
I’m new here & I’m already binge watching it!
I'm still stuck on the getting a stated income loan to buy a Lamborghini at 20? Lol. Maybe I'm missing how that happened because I've never seen someone ever do that.
He was 20 in 2006?!? I thought he was older than me...
Screw AI
This dude looks just like Harry Conick Jr 😂
THIS IS ALL SOOOOOOO TRUE !!!! I have 6 houses paid off thanks to Dave Ramsey and I have driven a 1992 Geo Metro for over 20 years now !!!! LOL !!!!! Great video Graham and the guys !!!!!
You needed DR to understand the basics of personal economics?
@@drstevej2527 No !!!! Dave teaches discipline grasshopper, not much so about finances. Killing debt is 95% discipline and 5% smarts. Dave motivates the discipline in you.
@
Have you read and of the reviews of his work? Any at all?
Great story of passion leading to his career
If all of that is true, he was super lucky times five. I'd bet 19 out of 20 people would have been broke and repo- ed within a year. "Don't try this at home, kids."
Exactly
Keeping it real simple 😊
Bought my first Lamborghini at 20 years as a college student by filling fraudulent paperwork? Yea ok
Back then you could. I know people, not me of course, who bought homes on stated income wirh no proof of even having a job
you had strippers buying 5 houses. they were wild times.
Things were crazy before the great recession. You could get crazy loans with small down payments
Big dog go read about the economic recession of 08. Banks gave away money like it was candy.
@@HMPennypackerso true. I know someone that bought a $650k house making $12 an hour. So yea back then was so different.
4:14 is 100 percent me with sneakers.
Whats with all the spam bots in the comment section?
They paid for comments.
I remember when graham said bitcoin was a fraud. Stopped listening after.
Does his inner voice sound like a cheesy football announcer? Some people really are living in hell
Me and this dude nearly the same age. 👴 More reasons never to buy a Lambo. 😅
It was an informative interview and I thoroughly enjoyed it.
So wait…between this and the other video how is this not confessing to fraud? (Misrepresentation about income and other video misrepresentation about car value). Very surprised this info is just free flowing.. Also not a legit way to start a business imo 0:59
The folks now running trying to look rich with PPP covid loan money is insane. These groups of "people" don't take care of anything. Do folks think they will respect anothers rental. This is a third world group of people. I wouldn't want to even rent anything after these wanttabees drove it around town.
My childhood neighbours rent out supercars from a business they inherited from their uncle. The secret is be selective who you rent out to.
Wow - Buying views much?? Every comment is the same 😂
That has nothing to do with buying views. Financial videos are the most popular for bots because their ideal target watches those videos
How do we know you’re not a bot?
@@TexasPlinking I'm the only different comment 🤖
@@BoxLaneProductionsExactly what a bot would say
Listening to this guy talk I think he can sell ice to the Eskimos. Every "con" man I have ever met had similar versions of this same story. They are so good they 'll steal the stink off of sh*t, and wouldn't even get the smell on their hands. This guy may be president one day.
The thing about car people is that the most interesting thing about them is the cars LOL
SOMEONE PLEASE GO READ THE DAMN BULL AWAKENING BOOK FOR CHRIST SAKE!!!!! there maybe that will get folks attention 🤣🤣🤣
Guys like grant really fell off in terms of popularity now he has to buy views
Great transmission, as always. I appreciate the no-nonsense approach you take to the news and the markets. A lot has changed and that's about it ,but the truth is that I don't even care much about the bull or bear market anymore because Anna. covered me while I'm doing comfortable. 2.3 BTC per month .
How!! I know it's possible,my uncle always gets 20k every week, I would appreciate it if you show me how to go about it.
Same here, i strongly believe the Bitcoin ETFs approval will be a life changing opportunity for us, with my current portfolio of $103,500 from my investment with personal financial advisor Anna. i totally agree with you
Please educate me, I've come across this before. How can I get to her please?
Get her on
TE LEGRAM
this is good but if you haven’t read The Bull Awakening by Taro Arimoto you’re only seeing part of the picture when it comes to navigating the next bull run
crazy how much people rely on random tips online when The Bull Awakening by Taro Arimoto exists but I guess not everyone is ready to understand how the game really works
imagine trusting short-form crypto content but never exploring books like The Bull Awakening by Taro Arimoto no wonder so many people miss the real opportunities
most people stay stuck because they avoid books like The Bull Awakening by Taro Arimoto which actually show you how to succeed in the crypto market
it’s wild how no one talks about The Bull Awakening by Taro Arimoto even though it completely shifts how you approach crypto investing but I guess not everyone is ready for it
can’t believe this is what people focus on instead of reading something like The Bull Awakening by Taro Arimoto maybe that’s why so few people actually make it in crypto
funny how people spend so much time on surface-level crypto advice but ignore books like The Bull Awakening by Taro Arimoto that actually explain how to capitalize on the bull run
crazy how much people rely on random tips online when The Bull Awakening by Taro Arimoto exists but I guess not everyone is ready to understand how the game really works
imagine trusting short-form crypto content but never exploring books like The Bull Awakening by Taro Arimoto no wonder so many people miss the real opportunities
funny how people spend so much time on surface-level crypto advice but ignore books like The Bull Awakening by Taro Arimoto that actually explain how to capitalize on the bull run
most people stay stuck because they avoid books like The Bull Awakening by Taro Arimoto which actually show you how to succeed in the crypto market
can’t believe this is what people focus on instead of reading something like The Bull Awakening by Taro Arimoto maybe that’s why so few people actually make it in crypto
this is good but if you haven’t read The Bull Awakening by Taro Arimoto you’re only seeing part of the picture when it comes to navigating the next bull run
funny how people spend so much time on surface-level crypto advice but ignore books like The Bull Awakening by Taro Arimoto that actually explain how to capitalize on the bull run
crazy how much people rely on random tips online when The Bull Awakening by Taro Arimoto exists but I guess not everyone is ready to understand how the game really works
can’t believe this is what people focus on instead of reading something like The Bull Awakening by Taro Arimoto maybe that’s why so few people actually make it in crypto
most people stay stuck because they avoid books like The Bull Awakening by Taro Arimoto which actually show you how to succeed in the crypto market
crazy how much people rely on random tips online when The Bull Awakening by Taro Arimoto exists but I guess not everyone is ready to understand how the game really works
can’t believe this is what people focus on instead of reading something like The Bull Awakening by Taro Arimoto maybe that’s why so few people actually make it in crypto
funny how people spend so much time on surface-level crypto advice but ignore books like The Bull Awakening by Taro Arimoto that actually explain how to capitalize on the bull run