The TRUTH About Making a MILLION Dollars on Turo

The TRUTH About Making a MILLION Dollars on Turo
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00:00 - Intro
What's up, you guys! In today's video, I will explain the truth behind making a million dollars on Turo
01:00 - The Article
Video ‪@superspeeders‬ made on this article: • Florida Woman makes $9...
Business Insider Article:
www.businessin...
04:26 - The Breakdown
22:24 - Closing
I hope you guys enjoyed this video; make sure to hit the like, subscribe, and the notification bell, and I will see you guys in the next video.
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Disclaimer:
I am not a CPA, attorney, lender, or financial advisor. The content in these videos should not be construed as tax, legal, or financial advice...etc, and may be outdated or inaccurate; it is your responsibility to verify all information yourself. This is a KZbin video for entertainment purposes ONLY. IF stocks or companies are mentioned, Aubrey may have an ownership interest in them - Please do not make buying or selling decisions based on Aubrey’s videos. If you need advice, please contact a qualified professional.
#Turo #SideHustle #ExoticCars

[@RealWestCoastDave]

Great job on the breakdown. I do want to point out 1 point to consider. I read the article and she mentioned that she also manages cars on turo for other people (how many is unknown). This is a huge piece of information that most are reading over and/or don't understand fully. Managing other people's cars is my specialty! If her agreements are like mine, then she is NOT responsible for the car payments on the cars that are not owned by her. An example of a 60/40 split (in my fleet) would be 60% to the owner and 40% to the manager (her). No car payment.

[@AubreyJanik]

Great point David, thank you for your insight!

[@keithrobertson8325]

Aubrey , love your videos. You are one smart cookie. You mentioned determining a usage rate from a car listed on TURO being hard to do. For instance looking at the calendar for the car shows unavailable days. These marked out days could mean booked but could also mean the host just made it unavailable during those days. Correct?

[@AubreyJanik]

@@keithrobertson8325 correct! It could mean that the car was booked, it could also mean that the availability for those days is limited (ie: trip minimum length) or it could also mean that the car is blocked off for repairs. No real way to tell from looking at a turo listing.

[@aaron78950]

I’m in Miami as well, All Star Host. I have 4 cars that are from an investor so far and I have them on a 70/30 split, luxury no exotics. While I can say it’s smarter to have economy cars, having luxury/exotics open you up to another realm of ppl that you get to market to, I’m in real estate as well. Those connections are priceless

[@cozmicsoull]

Generally a correlation between type of client and type of car.

[@topofall1992]

Question is, how you guys get the "investors". What's needed for this?

[@dferdinand8998]

Guys focus on your freedom number. Run your own race. Comparison is the thief of joy.

[@kennybrown931]

Amen

[@VoltedSoldier]

Preach

[@arnold17]

The best business in this whole thing is by the person renting out the parking spaces.

[@AubreyJanik]

Once again, I want to reiterate, because I don't think it can be overstated, this video is NOT intended to be a 100% accurate way to calculate potential earnings, as there are SO many factors at play, this is a ball park estimate that can give you an idea but certainly should not be used to make any real Turo decision. Secondly, this video is made under the assumption that the $922k is take home pay, if this is not the case and if it is in fact host earnings, than this host is losing A LOT of money. But again, this is not something we able to confirm. Hope y'all enjoy the video!

[@republicandan]

If you have an investor, you shouldn't have interest charge. You're double dipping expenses on that.

[@corvettesyndicate3649]

@aubreyjanik. What’s your thought on the Las Vegas Market for budget turn cars ? Thinking about investing in 4-5 cars (20-30k) to start as a retired person looking for some extra spending money and then scaling the business if things go well.

[@AubreyJanik]

@@corvettesyndicate3649 the Vegas market is very good! David army on Instagram (he commented on this video) is a Vegas host who’s very accomplished in the market, you should check out his socials. But in general Vegas is great- tourism, locals, sunny weather….a great combo

[@corvettesyndicate3649]

@@AubreyJanik awesome. Thank you found him on social. I see he does OPE. I wouldn’t mind doing that so I can have more free time. I’ll have to try and hook up with him. Thanks. Great videos. I’ll continue to watch and learn.

[@deanedmund7843]

It would be so cool if Turo had a tip suggestion button for a host. I believe this will make host give better customer service.

[@BackyardEngineer334]

I never went to college but I felt like you were my professor I never had.

[@AubreyJanik]

Lol, I never finished college so you don’t want me being your professor 😂

[@hoover133]

I’m an all star host here in Miami. Been doing Turo for about a year but considering maybe stepping away from it because I can’t compete with the low daily rates other hosts offer. I’m sorta envious that Aubrey can make $1000 from one of her low cost vehicles but I struggle to even reach that amount on some months with a 2019 Jeep Wrangler. Hosts are renting Teslas & Jeeps for $50-70 a day, $25-$40 for economy cars. There’s no money to be made

[@U_n_d_e_r_S_c_o_r_e_]

How much do you normally make with your wrangler?

[@AubreyJanik]

You just need to have the right car for your market and pay the right price for the car. I had a Jeep wrangler and my Jeep performed worse than cars 1/4 the price.

[@dferdinand8998]

That’s what happens when these Turo gurus says you’ll be rich on renting out cars. You have everybody & their momma on the platform. It’s only gonna get worst. It’s a good side hustle but not a sustainable business model longterm.

[@mihaiihsan3359]

That’s what I was argued with people in Reddit few hours ago. I was going to post my Jeep in few days and I ask them opinion. I was thinking to post with 130$ in nyc and they told me your price it’s to high put it with 70-80$ come on if I’m gonna put it with 80$ turo will take 20$. I will end up to have 60$ let’s say that I’m gonna rent only 10 days in a month it will make just 600$ idk what’s wrong with those people who post cheap their car in market. But thanks god I take look in nyc market no one didn’t put it Jeep so cheap. Let’s see what’s gonna happen

[@MickeyCh00]

Fascinating presentation; watched through the end and I have no interest at all in doing anything like this ever.

[@rapidroadsode8789]

I’d say that when you’re at the point of having 60 exotics andl uxury cars in such an image heavy city like Miami and you have stories written about you , you’re likely at a point where you’re marketing on Instagram , have a nice website and people are coming to you directly. You are seen and known in your city for having all these cars! You’re also renting to and meeting celebrities and wealthy travelers . At that point you’re able to charge the correct rate for your vehicles . So it may be difficult to gauge her income if you’re assuming all Turo.

[@JayFay_]

I have a 2023 corvette that I was looking to put on the turo market for $250-$500 / Day. But after a little research and scanning our current economic environment, I’m not sure if it will be the best decision.

[@innovationpropertyatlanta]

C8s are going from $150-250 a day in most markets. Worth a shot.

[@SB-ck9gq]

ROI is not nearly 100% per year on Turo, it's more like 40% after all the expenses and depreciation of the vehicle. You don't get to pocket that money if you only have 1-4 cars, because you're depreciating your cars and then spending the little income they make. You have to invest that income into more cars, and save every penny they make for more cars. This isn't a side hustle that will make a single mom pay her bills if she's only got 1-3 economy cars to rent out, this business only starts making you money excess you can pocket after about 5-7 cars in the fleet.

[@thegamepz]

There are few things to point out. 7k Hyundai won’t rent for 45$/day ( in my market you can find sonata for that price from private party but daily rate is right about 35$ ( without the discounts ) Second thing: This Hyundai will be rented for 35$/day this year and next year year probably will go down with 1-2-3$ and this will continue till it gets totaled. On the other hand the Lambo will get that daily rate for next 1-2-3 years and once the newer models hit the market ( prices on older modes go down ) you won’t be able ask 1k a day. You will go down to 700-600 maybe even 500 in few years if the vehicle survives. ROI on the Lambo is more than 11 Years and the only benefit of renting it is that someone else will be doing the payments and maintenance of your Lambo. I’m at 10 cars now and I have free airport delivery for 1-2week longer trips. I’m reaching the point that for my next cars I will go away from the economy and focus on mid range ( similar ROI less work - nicer vehicles ) But indeed renting cars is up and down. Some cars are booked back to back for whole month others sometimes sit for 3-4-5 days then everything is out and everyone is asking to extend their trip but vehicles are booked just for the next few days to have 6 cars sitting at home

[@sideaffect2286]

Just Brakes replacement on Lamborghini will cost about 30 to 35,000 so

[@notarybrotha-trevorwells8772]

Your brilliance cannot be overstated, Aubrey.

[@matthewthomason715]

Great work and video!

[@kaylove4507]

Yeah. I prefer the economy cars like you said they are recession proof and I think you can make a decent profit on economy cars It would take a lot more economy cars to make a million dollars a year but it's possible. I mean Enterprise basically does it everyday except their economy cars are newer lol

[@oasles]

Thank you for the great content. Question: How do you rent a 2007 Ford Focus on Turo (or do you use some other platform?). Toro’s site says your cars can’t be older 12 years or so and no more than 130/140k miles

[@fabulouslocsnaturals1784]

Facebook marketplace is an option.

[@jeremyhefton2542]

I love the simplicity of a paid for fleet. Less to have on your mind and as you stated, if something happens and you lose your platform, you are not at risk of going bankrupt! I will likely do a deep dive into your content soon but am curious how you handled expanding? Did you start with 1 and not take income from it to pay for the next and then do that with the two to make four, etc? I just bought my first. On a low risk loan as I always look at my worst case scenario. The platform disappears, I drive the car on my 59 mile round trip commute rather than my truck and save $300 a month on fuel costs and pay the $195 loan out of pocket. But I do intend to pay this loan off prematurely

[@khanhdang7263]

Your sonata numbers… a little exaggerated: -Your gross average monthly: 750-850 max (January-February max 600-700) -Most of your vehicles are around 150-250k miles (110-120k miles already when you purchased) so you sacrificed quality guests, higher chance of 1 star review and …. Reliability (even with your husband knows everything about cars) I respect and watch your videos often but you can’t provide wrong information from your own fleet to make things look good.

[@AP-eh6gr]

A little point to consider at 20:45 - your Huracan is not dropping below 90k in value unless it gets totaled/salvaged/rebranded (something tragic). Half of the 11y is a reasonable figure to be looking at to recover half the price you paid for it

[@auslax5589]

I agree in some aspects and disagree in others. Purely depends on your market. my major point is how far off your pricing is for the lamboghini. A lp580-2 convertible goes for 160-170 if you do a good look. 2nd is insurance, im unsure on the laws in the states, but in australia. you must have CTP which covers legal liability for everyone else, with no payout to your own vehicle. On my fleet (australia) i only run this insurance as I only offer pickup and dont drive the cars outside of them being rented off. also on car wash. I would never pay for a car wash. I wash my own cars, doing a better job than a regular place and keeping the cars paint in a better condition (all luxury fleet so this varies). Overall good analysis. but not sure I 100% agree. And she must be doing something right with a fleet that big.

[@daytonaguy3584]

The numbers don’t add up…each car should be doing around 10k at a minimum…her numbers are sketchy

[@innovationpropertyatlanta]

Aubrey is the Goat!!👏🏾👏🏾

[@youtubeuser5102]

Correct me if im wrong. At some point the Lamborghini will be paid off regardless of how long it takes to make initial cost of car back (11 years in your example) Assuming the host is profitable every month wont they still come out in the green if they decide to sell the car once its paid off?

[@madimarat2706]

One MAJOR factor being completely ignored, it is Miami nobody will rent lambo in your area but in Miami most likely ….

[@mattnorman5241]

actually exotics insurance is lower than regular cars

[@TheRealTyJe256]

If I’m not mistaken, doesn’t estimated utilization play a part in that? Ex) 3000 miles/ year vs economy car that’s a daily.

[@mattnorman5241]

@@TheRealTyJe256 yeah to an extent but alot of exotics have miles most exotics shouldnt have over 10k miles but alot do

[@dreindenver798]

Where do you park your cars? Where do you suggest we look to park our cars?

[@manuoberoi8535]

does Turo "insurance" cover you if a car is stolen?

[@lindsay3995]

Can you explain insurance to us regarding Turo? I’m also curious what providers offer anything close to $75/mo for an economy car. I’ve never seen anything under $150 anywhere & id love to know where to look for the best rate in my market for my personal car.

[@harithtravel4379]

Nice videos what do you use for remote pickup

[@aromeo2luv2]

Please can you tell us what insurance company do you use.

[@esmelindaboadi6931]

Hello Miami, do I need any security tracker on the cars before starting the Turo business. How do you go about this business.

[@TheFoxalot]

Ty!

[@ashleysaldana315]

Hi do you recommend that I get a separate phone number for my Turo business or is it ok to use my personal?

[@cookingwithlukeandfriends6637]

Interesting

[@XennialGuy]

Whatever she's bringing home, it's unsustainable. She's going to get hit this year by a huge depreciation slump across the board with all these cars. This doesn't even take into account the massive maintenance bills. She basically has 15 million worth of inventory that's about to lose 20% of its value. Anything she made will be wiped out, and then some. Same goes with that goofball PJ at Exotic Car Hacks. The only thing that's going to get hacked is his net worth by the end of this year. All these used exotics are tanking fast.

[@evalina98000]

🤔 the law of diminishing returns for exotic cars

[@s99614]

I would think that you would be paying way more to insure your vehicles

[@FundamentallyFresh]

In another video you state that the car must be less than 12 years old to be on Turo. How are you still renting a 2007 Focus on the platform?

[@alexs_wrex]

Cars can be grandfathered in. So if it's 11 years old when you put it on the platform it can stay there as long as you maintain it in good working condition. Same thing for the mileage limit. You can't put a car that's older than 12 years but you can keep renting one out after it hits 12 years.

[@vorzhev1000]

Her market 7000$ sonata 45$ and 80% My market Tesla model 3 2024 42$ and 30%, Toyota Camry hybrid 2024 - 38$

[@YEOTTI]

What??

[@stephanparis6887]

An article from.. Facebook?! This is a joke right? Senior citizens use FB, I don't know anyone under 40 who actually uses FB. FB is dead.

[@KLR-3]

I can't tell if you're joking or serious ...

[@stasevich]

Ure doing roi math wrong. It should be your profit/ investment

[@jm100368]

Net profit of 69 cars: $56.75

[@MarioSantana1335]

She meant to say 11 thousand not hundred🤣 922,000 DIVIDED BY 69= 13.3 THOUSAND DLLS.

[@kent10121]

And then divide by 12 months and you have the $1100 number she mentioned.