I’ve talked to Alvin about cohosting. He’s super transparent and upfront about your potential earnings w/ actual data. Watching this gave me the push to work with him hopefully I can get my car up there to him soon!!!
@kingofrentals Жыл бұрын
Awesome!!
@SSGsharueАй бұрын
update?
@suer3818 Жыл бұрын
Love, love, love these videos your making!!!!!!!
@jakobbrown492 Жыл бұрын
Awesome interview! Very insightful. I’m in Jax looking to get started on Turo.
@TonyLuxuryCars Жыл бұрын
Wow great video and interview! I learned alot from this! I actually will reach out to him and see about bringing some of my cars down there during the slow winter months! I also would like to do a interview with you! I'm the biggest host in my city, 17 car fleet, make over $300,000 per year!
@kingofrentals Жыл бұрын
Would love to chat more. Send us an email at hartrentalsaz@gmail.com!
@nick-03 Жыл бұрын
Hey Tony, is this profit or revenue just curious?
@anonymoustrucker17829 ай бұрын
@@nick-03if its 300000 revenue what do you estimate his profit would be?
@MooveTrax Жыл бұрын
Interesting concept that a one day rental can easily become a month long rental.
@kingofrentals Жыл бұрын
Definitely cool to hear!
@eurinsonfeliz8994 Жыл бұрын
Awesome video!! Great info!!
@Donslimpapi8 ай бұрын
Good interview, Can you provide a link to the tracker he was talking about? The experion gold star.
@prestigemotorgroupllc8847 Жыл бұрын
I think It best to get the commercial space, Becuz even if he has all does car they are not there all the time, as a dealer you sell a car and get one in that space again, if you are renting out all the times cars are there just like a day or so, than if he gets a commercial space he can get mechanic tires and bodyshop and detail that way all work is done in house and then charge the co host the oil change the wash the repairs from insurance claims.
@djmitchell3464 Жыл бұрын
This is amazing and congratulations to Alvin's success. I'm not sure how he's working his helpers but it's illegal to have employees working as contractors! I hate to see the IRS penalize him but that's a big no no. If your giving orders and dictating work operations for worker to follow they are W2 employees by law. I know it saves him payroll taxes but not for long. I hope he understands he could be shut down. It only takes one worker to make a complaint but outside of that IRS will catch on for sure. Protect your company and your workers. Alvin you said I just 1099 them to casually not knowing the risk brother. Make your money but eliminate that risk fast.
@alvinc417 Жыл бұрын
I pay payroll taxes fyi. My cpa is well aware of my operations and she knows how to structure my business properly.
@missmaryjanegreen Жыл бұрын
I’ve been a 1099 for over 20 years - you are way off base 🤓 But hey, if you like writing I-know-everything comments on social media to feel better about yourself…
@ogray2635 Жыл бұрын
Amazing video!
@kingofrentals Жыл бұрын
🙏🏽🙏🏽🙏🏽
@alexrocks4life9 ай бұрын
Do you charge them an upfront fee outside of the profit split to co-host their cars? This is like 'Turo Automation' in the marketing world.
@algiebrodnax8829 Жыл бұрын
Awesome interview!
@gabriellondondo8155 Жыл бұрын
How does the co host work? My car but who’s liability in case of an accident or something??
@demetriusgunn5233 Жыл бұрын
Where do you park all these vehicles? I'm having trouble with parking.
@kingofrentals Жыл бұрын
Commercial lot!
@demetriusgunn5233 Жыл бұрын
Okay. I was 50/50 on that idea. Thanks for confirming.
@hectordaniellugovillarrubi4153 Жыл бұрын
Hi there! I want to know what is the tracking brand he's using, please.
@kingofrentals Жыл бұрын
Bouncie
@hectordaniellugovillarrubi4153 Жыл бұрын
@@kingofrentals he said don't go with plug-in ones. I know he mentioned ABR WEB, expirian and gold start the hard ones. I want those, please
@suer3818 Жыл бұрын
Hi! What happens if a Turo newbie with only car has to cancel a ride due to a repair that came up unexpectedly? That’s one of my biggest concerns. Should I try to find a car to replace the car they were expecting to rent?
@kingofrentals Жыл бұрын
Call Turo and cancel for repair. They will assist with finding guest a new car.
@Beastieboy2263 Жыл бұрын
If he stopped co hosting and cut the middleman out, went and bought his own cars with the 900k he made last year, he would be able to make over 2 mill EASILY. Maybe not by the end of this year b/c of having to give back the cars then go purchase a bunch himself will take a while. But those few months that he takes to go buy cars with cash will save him hundreds of thousands. And he will have assets to sell off in the end as well. And really wouldn’t be in a rush to sell them unless something major came up or a new investment idea came up, so he could sit on them for a while and not lowball himself.
@Beastieboy2263 Жыл бұрын
^ all he is doing is paying off other peoples cars and giving them extra profit. I get it, we all need to start somewhere, but when you have a million to your name, you don’t want to BORROW and basically pay interest and have 0 assets. He is very smart and has done things most people can’t, if he just fixes that one issue, he will probably make 4 mill 2024-2025 if he keeps scaling but he might have to venture out to different cities.
@Beastieboy2263 Жыл бұрын
And yes it is scary having so many assets (which they are somewhat liabilities as well) and money invested into something. I get it. But soon enough will be the time to start giving those co hosts’ cars back and buying in at the dip of the used car market👍 the market has already started another downward trend, I would start now by giving a couple back then going and buying a couple for a really good deal, and even if the market drops, hopefully the deal you get will compensate for any depreciation.
@Beastieboy2263 Жыл бұрын
Not to mention, someone like this guy could walk into an auction and get any car for a super good deal. Dealer deals. Something worth 12k on market will be 9 at auction. Buy those cars at wholesale you’ll walk away paying 8-8.5k each instead of the 12k market price…
@kakrot9516 Жыл бұрын
He said he only paying himself 15% to 25% out of that 900k
@somedudeinatunnel31028 ай бұрын
@kakrot951 That's still $180k a year, and he doesn't seem to do a ton of work for that money either. But he'd be much better off if he invested into his own fleet and kept an employee or two. It could be nearly 100% passive for him and he'd still bring in close to the same amount.