Turo VS airBNB in 2023 | Which one is better to start?

In this video, we're comparing Turo and Airbnb in 2023. Which one will be better - #turo or #airbnb ?
In this video, we're exploring the pros and cons of running a #business with Turo vs. Airbnb in 2023. We'll compare a few factors that might impact a decision to start a small side-hustle business with one of these two options.
You might wonder why we would compare these two. Well, they both are "asset based" businesses that use owned or leased assets in order to share with others.
Let us know in the comments what you think!
#turobiz #shorttermrental #kingdombusiness #entrepreneurialjourney #entrepreneur #vrbo #airbnb

[@Lets_MakeLotsamoney84-ms7bu]

Turo is a much better and more feasible first step. I plan on starting mine in 2024 and will hopefully leverage that into my first rental property possibly a Air BnB.

[@missiondrivenventures]

that's a great idea! Turo can help cashflow at the beginning, and then move into airBNB.

[@Super-no1fx]

Would love to jaw back and forth with you on both of these items .. I have a lot of insight on the Vrbo thing..and recently purchased a handful of items to rent .. cheers

[@missiondrivenventures]

Yes, let’s interact, when I talk about Airbnb I additionally mean VRBO and really any OTA platform

[@Super-no1fx]

@@missiondrivenventuresunderstood.. what is ur your experience thus far with the vehicle rentals and Turo? I’ve purchased a few rigs.. looking at heading towards mostly utv renting .. what does ur fleet look like? And how long have you been doing it? I’m sure you might have a vid or 2 already on it.. trying to reinvent myself out of the construction industry and get into a cash flow business..I think the housing market might be a lil iffy for a bit..but I have a few thoughts there I could share with you.. the somewhat undiscovered market as u say ..

[@missiondrivenventures]

At this point, it’s been mostly an experiment that I’m a/b testing. So I’ve only been using one vehicle, it’s an economy vehicle. I will likely be getting a luxury vehicle soon to experiment with that. What I’ve observed, so far is that economy rentals are very stable, but your price point is a bit lower, however, your risk is lower.

[@Super-no1fx]

@@missiondrivenventures what is ur location? I’m in the central basin of wa state.. kind of a vacation Mecca area .. but there is a small city of approx 80k about 30 miles away.. and approximately 3 hours from 2 major cities of large population..there are only a few Turo vehicles here.. a small airport.. i d like to here about ur vaca rental properties.. I have rented what now is my main house for approximately 4 years during busy months of summer..and another home before that was a vacation property for 4 years.. this last year there was definitely less interest..I listed the property on Vrbo later than normal .. bout mid February. I do believe regulation is creeping up in a sister-in-law county now.. but I think there is something like 1400 properties listed on Vrbo and or air b n b .. so highly swamped..property also got excessively high along with building costs in last 3 ish years.. more or less since the sniffles came along ..I’d say inflation with materials in this area is easily 100 percent..over last 3 years ..likely more.. I know that some markets are always going to be better or suffer less than others.. but I’d steer anyone who is thinking that Vrbo is an easy way or surefire way to make money in a different direction for now.. I think due to interest rate hikes and the current state of the economy this market will suffer big time..inflation is not even close to under control..the 5 percent is not an honest indicator.. more like 15-20 percent.. I don’t like being the bearer of bad news but reality is what it is .. even 6 months ago when I first started planning my new business I kept saying to myself .. no.. things will always be fine..they will continue to kick the can down the road..truth is they can no longer do that without furthering inflation..I’m already planning on changing my direction for the new business model.. and will likely take a bath on some of my original investment.. I’d say error on side of caution or just buckle up thru spring.. pretty sure we will see another rate hike in October and more fake inflation news..

[@missiondrivenventures]

Inflation is definitely real. It’s important for people getting into these things for the first time to understand their actual revenue and costs. I have some free spreadsheets and calculators on my channel for that purpose, I don’t bite on anything less than 16% cash on cash return