Hi Greg, It did not take long at all. When I first started I did price my cars very competitively so that I was able to build up reviews. When you car get a few 5* reviews there is a lot of demand for the cars. Thanks for watching!
The only way any business is truly "passive" is if you are paying someone else to do the work for you. A rental property is only passive if you are paying a property management team to handle the headaches. Turo is 100% NOT passive income. Everything you listed in your video proves that. New people to the business need to know this.
It's a semi passive business and we are referring to the income being passive. The car is making money for you without you driving your own car. Lol that's what makes it passive I'd say semi passive until you like you said the person finds a way to have maintenance etc done to that without the onwer getting involved I would say that is the ultimate goal
HI , thanks for your help . I am leaving in Florida , mI am learning English by my self , so , please be patient with my writing I am traying to start renting my car , I sign in yesterday and I am waiting for been aproved. Any way I have a lot of doubts, and the one concerns me is about turo insurance. Do you have any idea of how it works and the cover of the policy. Is there any way to call them and ask about this issue. Thank you very much.
Hey, would it be worth it to buy a 2018 Tesla model s. It’s at 40k with 5k down, payment would be around 600 a month. In my area they rent around 130-160 a day. I would want to evtually use turo to pay it off and make it mine and to roll profits into another car. Any advice ?
Hi George, Lots of people do this really successfully but I have never been a fan there is large risk to it. The two main reasons: 1) If a guest was to crashed the car, Turo would pay you out for the ACV (actual cash value) of the car. This is the priced determined for the car on the market and most likely will be a lot lower that the purchase price. 2) Depending on your state, if you purchase your car with a loan the insurance will be much higher and it will eat into your bottom line. Check my video out about my Ford Mustang that totalled as it goes through the claim process: ruclips.net/video/Bs_DMKtVkag/видео.html In conclusion, it can be done and you can make really good money, however, all it takes is one bad renter to wreck your car and you could be in the red. Let me know if you have any other questions
Hi Renee, When I first started on Turo, I had 2 Ford Mustangs and 1 Mazda Miata. If you get a convertible Camaro you will get a lot of demand, especially in FL, but you will attract a certain type of renter. Both my Mustangs were totalled which was a massive headache and I much prefer hosting cars such as Toyotas as there is less issues that come with the car and the renters. Guess it all depends if you ever see yourself using the car as well. If you want a way to enjoy a Camaro and renting it on Turo to pay for it, then that could be an option. For me, I will stick to low issue cars. Thanks
My personal insurance only covers me when I am actually driving the car. When the car is rented out the car is covered under Liberty Mutual. I have had two cars that have totalled and all that happened was that the insurance company told me they were not liable as I was not driving, which was fine as I had the Turo insurance. Hope that helps
Definitely considering being a host, so this surely helped. Thank you.
Thanks for the support - You can see how much I made in 2019 from this video ruclips.net/video/FNfB7PmEhls/видео.html
I have one question?
How long did it take you
When you put your car on turo to get tour first rental?
Hi Greg,
It did not take long at all. When I first started I did price my cars very competitively so that I was able to build up reviews. When you car get a few 5* reviews there is a lot of demand for the cars.
Thanks for watching!
@@fbaunlimited6813 Awesome thanks for the feedback
Yo, this help me out alot and brought hope that this will work! Have been considering making this move. Thanks bro!
Thanks for watching, all the best with your business
Do you need both personal insurance and Turo insurance to start?
Thanks for your great observations Jordan.
Glad you like them!
Can you do a video on which insurance option you use, and why you use that one?
I will do a video on this by the end of next week, thanks for watching!
The only way any business is truly "passive" is if you are paying someone else to do the work for you. A rental property is only passive if you are paying a property management team to handle the headaches. Turo is 100% NOT passive income. Everything you listed in your video proves that. New people to the business need to know this.
THANK YOU , VERY HELPFUL FOR NEW PEOPLE
It's a semi passive business and we are referring to the income being passive. The car is making money for you without you driving your own car. Lol that's what makes it passive I'd say semi passive until you like you said the person finds a way to have maintenance etc done to that without the onwer getting involved I would say that is the ultimate goal
Great video, very good tips! Thank you Sir and keep'em coming.🙏🏽
Thank you, I will do! More videos coming soon.
HI , thanks for your help . I am leaving in Florida , mI am learning English by my self , so , please be patient with my writing I am traying to start renting my car , I sign in yesterday and I am waiting for been aproved. Any way I have a lot of doubts, and the one concerns me is about turo insurance. Do you have any idea of how it works and the cover of the policy. Is there any way to call them and ask about this issue. Thank you very much.
Once you said I live in Miami I instantly subscribed
Thanks you for the sub
Good information. Thank you!
Glad it was helpful! Feel free to subscribe for more Turo videos
Hey, would it be worth it to buy a 2018 Tesla model s. It’s at 40k with 5k down, payment would be around 600 a month. In my area they rent around 130-160 a day. I would want to evtually use turo to pay it off and make it mine and to roll profits into another car. Any advice ?
Hi George,
Lots of people do this really successfully but I have never been a fan there is large risk to it. The two main reasons:
1) If a guest was to crashed the car, Turo would pay you out for the ACV (actual cash value) of the car. This is the priced determined for the car on the market and most likely will be a lot lower that the purchase price.
2) Depending on your state, if you purchase your car with a loan the insurance will be much higher and it will eat into your bottom line.
Check my video out about my Ford Mustang that totalled as it goes through the claim process: ruclips.net/video/Bs_DMKtVkag/видео.html
In conclusion, it can be done and you can make really good money, however, all it takes is one bad renter to wreck your car and you could be in the red.
Let me know if you have any other questions
Nice video man. I’m a Turo host also. Just subbed
Awesome! Thank you!
Thank you for sharing this 🙏
Your welcome
I live in ft lauderdale and i am thinking about buying a convertible camaro for turo do you think thats a good choice
Hi Renee,
When I first started on Turo, I had 2 Ford Mustangs and 1 Mazda Miata. If you get a convertible Camaro you will get a lot of demand, especially in FL, but you will attract a certain type of renter. Both my Mustangs were totalled which was a massive headache and I much prefer hosting cars such as Toyotas as there is less issues that come with the car and the renters.
Guess it all depends if you ever see yourself using the car as well. If you want a way to enjoy a Camaro and renting it on Turo to pay for it, then that could be an option. For me, I will stick to low issue cars.
Thanks
What about insurance? A lot of companies won’t cover you personally if you use Turo.
My personal insurance only covers me when I am actually driving the car. When the car is rented out the car is covered under Liberty Mutual. I have had two cars that have totalled and all that happened was that the insurance company told me they were not liable as I was not driving, which was fine as I had the Turo insurance.
Hope that helps
@@fbaunlimited6813 what was the deductible for the totaled cars?
@@fbaunlimited6813 Is this the same thing for leased cars.
Very knowledgeable video
Thank you!
good video
Thank you sir
Dude, rewatch your video. I think you might need some editing at 2:00.
Great video!
Appreciate the heads up Shawn,
Thanks for watching
I’m confused as to what was wrong? 😂
RandyTorrey there was a slight editing error, but he fixed it. 😄
Jake Z Gotcha! I didn’t know you can edit a video after it’s been uploaded 👍🏻
Must be worth it if your still doing it
What about in England
Hi there,
Not sure what the demand looks like the UK, saw there was quite a bit of activity around London.
I definitely didn't consider being on call 🤔
It was something that I never thought about. Cases are very rare but you always need to be ready to helps guest if they need it.
Thanks for watching
how about 1 thing I wish I knew before making videos, dude invest in a mic.
If he can’t do videos correctly then we know why turo isn’t working out.
I am unsure what you are referring to...
@@fbaunlimited6813 X X has an X brain
@@ramblin_man23 XX is rude, you should block that jackass.
Any updates?
@@ramblin_man23 you must be a relative of his… makes sense now