HOW TO MAKE A FORTUNE ON TURO & CAR RENTALS WITH MATTY J

On episode 146, we sat down with the Turo King CEO Matty J for a full master class on how to get started and make money from Turo and other car rental platforms. In addition, he also broke down useful tips on best car buying practices, marketing tips, how to build a car rental business, and business strategies that anyone can use to improve their corporate structure. #turo #carrentalbusiness #mattyj
SAVE $5OO OFF CARE RENTAL COURSE:
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Host IG: earnyourleisure...
Guest IG: ceomattyj?...

[@gasquirewell]

Watched this video 10 months ago, a day later I put my Volkswagen Passat on Turo. Now I have 4 cars ..with a 5th cash car on the way next . Leveraged both credit and cash to get multiple cars. This changed my life

[@BoxingWizard]

Did you set up a LLC for turo , or did you do it under your personal . I’m talking the way you receive your turo income ., does it go to your personal bank account or Business account?

[@gasquirewell]

@@BoxingWizard I have a completely separate account with Navy federal. Currently setting up an LLC but is not needed in order to get started

[@BoxingWizard]

@@gasquirewell yea but won’t it be taxed differently at the end of the year . If you have a business I’m assuming you can write of cost of ownership / gas / washes / . I don’t know maybe I’m just complicated it , and I need to just list my Jeep and get my feet wet .

[@MuchaelJordan-yy1bn]

100

[@jasonstarnes351]

This is awesome, I’m seeing this a year later, how’s it going for you?

[@tks9367]

I remember the last car I bought LOL - the dealership saw a young woman but he ain't know I did plenty research beforehand. He offered me car loan thru their "preferred lender" with a 10% interest rate. Long story short, I left with a car through my credit union: approx. 6 % interest rate, - $4999 off the sticker price, AND had the DEALERSHIP pay for my tax, tag, and title LOL. The same way car salesmen pick out their customers is the same way I'll wait to pick out my dealer lolol - I got the youngest person in there (presumably less experience + ways to negotiate). I also went at the end of the day when I knew they'd be ready to go home and would possibly be more interested in tallying gross vehicles sold than getting down to nitty gritty profit details. Plus it was Q4 so they wanted to get more cars off the lot. And I printed out comps (comparable car models) so I had more room to negotiate just like they do in the housing market! If 1 dealer says no, don't let them waste your time - SOMEBODY gone say yes! Now it was only a Chevy Cruze, but my point still stands 😂

[@MrDigztheswagking]

Smart move

[@triumphant_pearls]

Nice and Clever!

[@bransom8149]

At that time what was your credit score ?

[@thesavvyconsumergroup]

#SavvyConsumer is DEFINITELY IN THA HOUSE!!

[@CSims316]

how did you get the dealer to pay for tax, title, and tag?

[@trutrucker743]

I drove my first car in my dad's name and later went to get a truck in mine after I paid off my first one and drove off the lot with the truck I wanted, its mostly about a good credit score and a loan portfolio helps as well...lenders like to see various forms of loans in your name to be less of a risk and yes you might have to put money down but not HALF of the car loan Your exactly right I screwed my credit as a young man now I own a detailing company and can't get anything with out the full amount of cash. I'm working on my credit to get better with *850 CREDIT RESTORATION* , Love the knowledge keep it up

[@candyscott5572]

VERY well done ! I say this with 40+ years in mortgage finance & banking working with credit bureaus. Different models and parameters are used by different industries but *850 CREDIT RESTORATION* info is pretty much universal. If you're trying to max your credit scores, there is a happy medium between too many credit cards and none. Too many cards with zero balnce may actually hurt you in some cases. Even if you do not use them, you have a potential. To always pay cash & still have cards doesn't help your scores as well

[@hadejjas]

At 34 years old I finally feel ready to settle down long enough to buy a house. Unfortunately due to previous horrible stupid life decisions, I'm forced to start with a zero balance in my savings account. On the bright side, the huge amount of debt - consequence of those bad decisions will be payed off next month! 🥳 It's never too late to start saving like there's no tomorrow, and I'm really REALLY excited and motivated. Oh and Graham, fyi my emergency fund is also a done deal! by *850 Credit Restoration* team lol, i didn't made it myself

[@aikeembradshaw5124]

@Teena Brown mmm pop

[@connor8sullivan588]

He loc CV cdcnnl. I’m bout c

[@Thrivegrl24]

This blessed me immensely . I was supposed to be picking somebodys brain whos in the Turo game told me they couldn’t give me the playbook . Me being me I said I can figure this out and I’ve learned so much in this hour . Thank you

[@Beastieboy2263]

It sucks but unless you’re really cool with someone, nobody is just going to hand you the blueprint to making money. Maybe SOME people MIGHT, however, most people wouldn’t even think of it. Only time I’ve ever gotten real game from people was my FRIENDS who got into something and put me on with every single bit of their knowledge. Don’t worry though, fix your circle, go out and meet people with money, businesses, etc… You can learn a lot from people who have the financial side of life figured out. Y

[@drewfoster1493]

Just started turo as my second business. In 4 days i made enough booking for 3 months of payments. I bought a ford escape and looking into a porsche carrera turbo in Denver CO.

[@arthurlang7453]

Stop the Cap

[@zaejohnson3414]

What cars did you start with?

[@drewfoster1493]

@@zaejohnson3414 7 months later and I now have 5 cars. The escape was my first. I added a ford flex, ford Edge ST. Also a 2014 Panamera 4 and a 2016 Macan turbo. I have learned a lot in 7 months. Dont ever buy a German car without a warranty. My macan engine blew while I was driving it. 6 weeks down and it should be done in 3 days. Cost me 18K installed for a used engine. If I was to start all over I wouldnt have bought the Panamera because it doesnt rent great in winter in Colorado. I would have got a great warranty for the Macan and I wouldnt have bought a turbo one. Would get a base model everything because the higher trims codt more money but they dont really bring more money on Turo. I also wouldnt but fords as I have learned their depreciation sucks. I would buy Toyotas and Jeeps because they have really good depreciation. I will buy more cars but they will be brand new so I dont have to pay extra for a warranty and you get a better interest rate with new cars. If you want some advice feel free to email me. [e-mail] Cheers!

[@quandaliousdingleton6290]

@@drewfoster1493 damn so for example a c63 amg would rent for more or less the same as a c300? could that be possible?

[@sallywalk4761]

Very informative my Bruthas preciate you guys using your platform to Empower Us✊🏾🖤💪🏾

[@unbreakable1391]

This man gave us literally a money making formula

[@michaelrobinsonsummers8511]

Peep this: I've listened to alot of audios & watched alot of videos for turo,... he's the best detailed I've heard. Great story to teach with. Yes sirrr! 💯

[@TonyLuxuryCars]

Hello, my name is Tony from Louisville, KY. I'm the top Turo host in my city, I just started a year ago and now have over 1,200 trips, 17 cars fleet, and make over $300,000 a year! I would love to do a video with you and talk business!

[@gretajones2857]

Oh you are encouraging me

[@deucejefe4106]

shout out to y'all bruddas for putting game out there. blessings to y'all

[@monie6012]

This information is seriously a game changer. I didn’t think to use business credit card to finance car under business and pay it off quicker. Jewels 💎 dropped forreal!!!

[@steelwill2221]

Fr im about to get started

[@nicolematherne1608]

Love you guys!! This channel is insane. I’m addicted. Thank you!!

[@LouisPorterJr]

DAMN!!! Talk about dropping knowledge. I don't even LIKE cars but I love these business strategies and techniques.

[@srinidhimoily3672]

I have 2 chapter 13’s that are dismissed. The reason I have 2 is bcz I did n+ot use an attorney. I was trying to stop an eviction, but when I went to try to add another month’s rent to the bankruptcy, but the guy filed another one. About a month later, I ended up losing my job. They are scheduled to fall off in January and March 2021. Since I’m looking to purchase a home soon but still there. I am currently enrolled in *850CREDIT RESTORATION* and I must say, I am loving it thus far. I’m doubling it up with your podcast videos and learning A LOT! Thank you. I’m ready to join the millionaire club!!!

[@racheldesir6612]

Man, can't tell you how much I love watching this program. My mind is on fire! The 21 Savage reference was hilarious! " How many questions you got, a lot"...lol

[@fortgreeneprojects1]

Huge information love it. Peace and Love NYC...

[@Jiggadonqb]

4:22 don’t let that go over ya head .."Keep the Sabbath" on Saturday’s ! 💯

[@latishacalloway7056]

People be sleeping on us being The Most High chosen people and when you following his laws stuated and commandments he will must definitely make sure he bless you with whatever he sees fit for you ( Keep That Sabbath)

[@MrAllie-bf6zt]

@@latishacalloway7056 He can’t even bless you to spell right. Bunch of bull.

[@cp23falife]

AMAZING INFO!!! Thank you 🥇🙌🏾🔥💪🏾

[@eddieblake4039]

Mind. Blown. So much game dropped right here.

[@joruff22]

Amazing class. This video was jam-packed with a wealth of knowledge. Thank you.

[@ryanbaffield5984]

Loved this and will apply, blessings and gratitude to all

[@jj2352]

It’s crazy I came across this video I just started my Turo business the other day💯

[@EmpressQueenB]

Wishing you success

[@imanifest.]

I love how Matty J really breaks the game down. Great educational style, & easy to learn from. I could listen to his voice and teachings for a long time out of the day, and that’s unusual. Lol we appreciate you King.

[@TheRamirezDynasty]

Turo King CEO Matty J, Goated!!!!

[@charlesgreen3046]

Outstanding thanks for the game

[@dipo2142]

I like this guy..... hustlers mindset

[@kennynorris8636]

Professor Kez been preaching this a couple of years.

[@wallacesouza2678]

I'VE BEEN SEEING POST EVERYWHERE ABOUT FOREX TRADING AND CRYPTO CURRENCY, A LOT OF PEOPLE KEEP SAYING THINGS ABOUT THIS TRADING PLATFORMS PLEASE CAN SOMEONE LINK ME TO SOMEBODY WHO CAN PUT ME THROUGH..?

[@montserratherrero782]

All you need is a professional trader to avoid making losses

[@rebeccalittle1921]

That is true, you need an expert broker and account manager to make good profit from Bitcoin trade.

[@marinefernandez3166]

Because my portfolio has been going down the drain while I try trading, I just don't know what I do wrong!

[@carolineknudsen5306]

I have also been trading with her. profits are secured and over a 100 percent return on investment

[@antoniaprieto5390]

Investing in crypto is a plan for the future so it's high time people understand the importance of investment.

[@imperfectnaturalshairthera3099]

Thanks for such great really real information. Info like this will drive a brave heart right out the trenches, Lhhbs…thanks yall

[@kevinfowlks2482]

Excellent content!

[@naomiross2728]

Thanks for so much insight, really looking forward to doing the course

[@4yeSpazz]

mans literally just dropped a gem on how to get a car for FREE. catch a dime spend a dime, definitely using this.

[@jeffjayewilliams6667]

Thank you guys. Crazy value.🔥🔥🔥💯💯💯

[@igorramos8734]

kzbin.info/www/bejne/hJrXZZWBmNtolbs

[@CareerDropout.]

Wow I did the same thing with my car but not on a platform. This was encouraging to know I know how to manage well

[@mattisonjames5639]

I moved from Illinois, to Hampton, Ga and I learned the rental agencies were at the airport I was done. Thankfully, Turo has cars in Jonesboro, Ga. I noticed to pick me up was a $40.00 charge.

[@exploringwithbellanoche1286]

This young man hit it dead on when it comes to financing cars.

[@mr.vip317]

OK EYL, I See How You Gettin It In. ♥️🖤🖤💯💯💯

[@LilLinda333]

Mr.Ceo Matty Jj , i was surfing youtube going through grieving n came across a video with u so i was watching alot im from socali n My Homie u r a Hustler n im not mad at u 🦋🙏🏻n i would like to say i hope the lord keeps u stacking !!! my stack just was used to buried my lil homie n this morning watching u n hearing u has got me to get back on prayer to ask jehovah to help me get my stack back ! but u really do impress me somewhat lol god bless u my brother Lil Linda

[@sasisalwaysgrinding5723]

🔥 episode for sure.

[@ramonacarter3939]

I'm Ready!

[@arianasherry3289]

Love this

[@nylemcquitty]

So. Much. Value. How is this free? 🤯 Really enjoyed this one!

[@Hoody2Times]

I really look to Matty J as a mentor 🙌🏽 imma meet him one day a buss down a bag wit em 💯

[@ronnicoles1]

The key is buy cash cars $5k range. Draft a detailed contract. I express to carry the car on their insurance but I added them to my insurance and they have not stopped taking my money and I have 7 vehicles on it. Only used them to tow when 1 vehicle went down. No questions asked. I have each vehicle on year long contracts and they pay once a month.

[@ntrogers32]

What's in your detailed contract?

[@stanleymays3824]

You missing some specific details, who are the "their" you are referring to? A dealership?

[@ronnicoles1]

@@stanleymays3824 their is the person I rent to. I don’t with individuals not companies.

[@ronnicoles1]

@@ntrogers32 I detail the terms such as who is responsible for what. Regular maintenance I pay for. Any damages they are responsible for. Excessive dirtiness and any smoke smell. Worn tires I replace but if damaged they are responsible. I ask them to cover with their insurance but I also cover just in case they miss a payment and it lapses.

[@GoKorir]

you should bless us with a template

[@mogultalk1on183]

swap a lease has been around for over 10 years. very smart play.

[@tamelawilson9958]

I love your podcast...... It's just a great fuel ....

[@hadejjas]

At 34 years old I finally feel ready to settle down long enough to buy a house. Unfortunately due to previous horrible stupid life decisions, I'm forced to start with a zero balance in my savings account. On the bright side, the huge amount of debt - consequence of those bad decisions will be payed off next month! 🥳 It's never too late to start saving like there's no tomorrow, and I'm really REALLY excited and motivated. Oh and Graham, fyi my emergency fund is also a done deal! by *850 Credit Restoration* team lol, i didn't made it myself

[@srinidhimoily3672]

I have 2 chapter 13’s that are dismissed. The reason I have 2 is bcz I did n+ot use an attorney. I was trying to stop an eviction, but when I went to try to add another month’s rent to the bankruptcy, but the guy filed another one. About a month later, I ended up losing my job. They are scheduled to fall off in January and March 2021. Since I’m looking to purchase a home soon but still there. I am currently enrolled in *850CREDIT RESTORATION* and I must say, I am loving it thus far. I’m doubling it up with your podcast videos and learning A LOT! Thank you. I’m ready to join the millionaire club!!!

[@carlosmickens2081]

Wise words being spoken!!

[@marriageinsider]

I moved to LA and regret not moving here quicker,LA is the place to be!!!

[@HeyImDee]

Thank you❤️

[@rochelleball2262]

Our modest fleet is doing pretty great, glad we made the move! Ready to learn more

[@deepthought1064]

Fa real what's in ya inventory?

[@thesnyderteam-lasvegas6614]

Run the numbers for us

[@andredupuis5461]

Righteous video.✌🏿

[@thaarealdeal4349]

I am pulling the trigger this year on this IA

[@shakdaman]

so much game....doesn't even make sense! shout out to you guys for getting Matty on here to share this knowledge.

[@schemekareem6174]

I work in Law Enforcement and I NEVER drive my personal car, especially on work days. I’m about to list my car and test the water on this

[@santo9032]

Do it !!! Easiest money I’ve ever made

[@igorramos8734]

kzbin.info/www/bejne/hJrXZZWBmNtolbs

[@atnalta2]

Hey officer don't do it with only one car and if you don't know how to work on cars

[@santo9032]

@@atnalta2 Why are you saying that? You gotta find if our like it or not, and you don’t need to know how work on cars. You can go to mechanic

[@atnalta2]

@@santo9032 that's a big expense if you take your car to a mechanic and if you only have one car you will be very frustrated

[@iBarber504]

I loved the brotha from the start because he was reppin a New Orleans Fitted…

[@BShynazLegacy]

You’re one decision away from changing your future for the better. So always remember, that the choice is always yours. - Keyon Corniffe Sr.

[@iamMajik828]

My guy said Airbnb was like, you gotta move ALL these cars ,we know they're yours..😂😂🤣🤣🤣 #goals🎰🙏🏿

[@comeupmove]

I like going to the dealership with Pre-Approval from one of my Credit Unions. Don’t need all those inquiries from the dealership

[@pauhg9]

I love it too but some dealerships was trying to force me to finance through them in order to get a better deal. I had to walk away a couple of times. Smh

[@zaejohnson3414]

That’s why you tell them to pull your credit once and tell them exactly how you want it pulled to not encounter all of those inquiries but inquiries are easy to remove just by making one phone call.

[@daquanmcdonald7104]

Bro I live in Wilmington, DE. Not enough people here talking about how to get money. I can take over

[@JPS95gti]

It all comes down to, keeping it booked 90%. You can't make profit if it's only 2 weekends. It's tough to keep fully booked

[@isaiahboothe4299]

This was clutch 😂

[@DreDiesel42]

Awww man y’all giving away free bands I’m bout to tap in I love cars

[@kikawise]

Amazing content. Just bought my first turo car

[@igorramos8734]

kzbin.info/www/bejne/hJrXZZWBmNtolbs

[@mannyblue-letsdogadeals7707]

I just was looking at some economy joints, the Prius makes me a little nervous cause of the hybrid battery, should it be new?

[@wealthrebel]

If you want to start a business you cant avoid having good credit it could really hold you back.

[@nuritawwab9231]

That your mechanic was a 💎

[@justinmullins6887]

Thanks for all the great info!!! Just an FYI - NEVER NEVER NEVER admit your boy is getting business steered to him by police officers. Police officers using their job to steer business to their friends is a felony and a police officer I know went to prison for doing so. If this guy is your friend, you should edit that part out and let him know!

[@carlosmickens2081]

Stay woke!!

[@michaelwright9703]

Good info, and the brother knows he's a Israelite All praises to the Most High!

[@ZachL_1994]

Fire 🔥

[@nosaiyare2151]

Please don't be tempted to get Luxury car for Turo. Really research the car popular in your city. Luxury cars may work in Vegas but may not work as much in Chicago. I bought my Nissan rogue because people love to drive SUVs to the mountains in the state I live in. It gets rented 2-4 times a month (about 15 days out of the month). That's enough for 3 months worth of car payments ...... So even in months I don't put it out for rent (the winter months).... I'm still good

[@sunflowervibes9615]

Is it just me or was my post you commented on deleted ?!

[@nosaiyare2151]

@@sunflowervibes9615 don't know. Wasn't me.

[@nosaiyare2151]

@@sunflowervibes9615 wasn't me like I had no hand in it's deletion. Lol. I appreciated your honesty though.

[@sunflowervibes9615]

@@nosaiyare2151 🤣🤣🤣 I know it wasn’t you I just needed a witness lolol before I reposted it

[@nosaiyare2151]

@@sunflowervibes9615 lol. I'll be your witness like 6ix9ine 😁. Does KZbin have a DM feature?

[@blackfirstwristbands2243]

What kind of insurance does the user need to have to rent on Turo?

[@jhyltv]

2:05 #Birdman 🦅 Interview Would Be 🔥⚡️🧨💥‼️

[@skylerhill2945]

Sorry for my ignorance but can you do this with a sole proprietorship? Its a DBA so would it still enact the same?

[@abran-el]

Good shit

[@michellehollingshesd4914]

What about the insurance companies? Is it a problem with the insurance companies when there are soo many different people driving your car?

[@pierremarshall6966]

Dropped jewels on us

[@donaldallen9183]

Blessings

[@jigwig718]

Do u keep your own insurance and use Turo insurance?

[@willcanbe]

HEY DOES TURO HAVE A BROCHURE THAT I CAN READ HOW CAN I GET STARTED THANK YOU VERY MUCH 😃

[@chrispviews2]

21k views I am honored to be present so early

[@KuyaVen]

I have one more question. I am doing this i only have few cars. Doing it a year and half. My question is how do you do your taxes? Can you claim the mileage deduction your renter uses or just straight actual expenses deduction? I think i am doing it wrong. How do you do it?

[@compellingcredit5195]

You need to seek out a good tax person you can trust who is knowledgeable about the laws and loopholes that are legal and available to you as a business owner.

[@LennyTim]

This is not a bad business. There are a lot of other equipment rental businesses to get into as well. However, I think the goal should be to start your own business and not work with Turo long-term as they take a big cut and their prices are low...

[@iBarber504]

“I’m not the plug, I’m the extension cord!”

[@ryanhoward6303]

How do you deal with clients d the electric car rentals? In regards to charging and maintenance on long term rentals

[@opmvision2921]

Peace & Blessings

[@CJsmuuv]

I’ve been waiting on this shit for this longest

[@igorramos8734]

kzbin.info/www/bejne/hJrXZZWBmNtolbs

[@joshuawallace8192]

Can you discuss Insurace requirements?

[@greenshustlejourney195]

Turo has its own insurance, that works while the renter is in your car, and you use your own insurance when you are not renting it out

[@t04011984]

Please talk about the insurance on the Turo platform specifically. You steered away from the insurance topic and talked about other platforms.

[@optbuild4U]

Yes would like to more about insurance

[@orangeave8934]

What do you need to know? When your car is rented the platform covers your vehicle. I had a renter on hyercar who did Uber in it and they killed the Uber passenger and Uber cover the lawsuit and if it wasn't a Uber ride, the rideshare platform will be liable. That goes into the percentage they take.

[@livelife9935]

@@orangeave8934 but there r different levels of coverage

[@orangeave8934]

@@livelife9935 there are different levels on the platforms

[@theaverageguyNo]

@@orangeave8934 They killed as in assault amd battery muder or a car accident?

[@Quancho_417]

I appreciate this video, I’m taking notes and I’m plugging them in where they are needed. I appreciate you three kings sitting down and informing us on how to make more income. I also appreciate the genuine honesty from all of you. I’m going to use this formula to the best of my abilities and get to it! What books do you guy’s read?

[@stanleymays3824]

I went to the website for the training but it doesn't state if we are getting 500 dollars off. It cost 1,000.

[@dr.tiathelifecoach7912]

Where does the regular person have their pick up spot? And is there an issue of my personal address being attached to my car? And will the Turo insurance cover if the car gets stolen or a crime is committed (running lights and real crimes) in my car?

[@optbuild4U]

How can we rent from his fleet

[@sixthscentsfragrances2140]

I wish I was in a bigger city. The numbers don’t make sense for smaller demographics. With insurance and car notes, you have to have a healthy amount of trips per month

[@NoNakersAllowed]

My sister lives in Houston and told me about turo

[@DD-lv3zs]

Will they take care of the car when you rent your personal cars. Who cover insurance.

[@zeke2cold183]

Turo takes a percentage of the rental profit and that money covers insurance but there might be stipulations to that

[@benbrown5913]

What Matty J is describing in how he got 33 cars in one month is called credit stacking - taking out numerous loans before new credit is reported to the credit bureau. It's usually a type of fraud, but Matty J used it to rapidly ramp up his business. Very risky, but it sounds like it worked out in this case!

[@Daniel-ge7fo]

Not illegal at all

[@lizcohane5]

I have a LLC- in a business name and EIN..but I don’t actually do business under my business name… if that make sense.. how do I get business credit established ? Do I need to actually generate money under my business to get business credit ?