All Forum Posts by: Aaron Bihl

I think if your goal is to use Turo to cash flow I’d use the 10 grand to buy 2-3 cars that are older and reliable.  

3 cars at 30-40 a day with no payment looks a little better than 1 that you are hoping rents for 100/day. Also, if you buy lower end cars it makes a lot more sense to list them with 85% split option and only get liability insurances.  

If your goal is to buy a cool car that you want and normally couldn’t afford and want to use Turo to offset the costs, go for it.  Just realize it may not cash flow but you likely will have a nice car to drive for a lot less than usual. 

It could work, or it could not work. I have 6 cars on Turo and still haven’t really been able to predict what cars work well and why. 

My best car is a 2010 Honda Insight, it does better on a month to month basis than my 2016 Lexus IS200t f sport (which I really just wanted but justified by throwing it on Turo).  But somehow I have a 2009 Prius which I think is nicer and if doesn’t do as well as the Insight. 

Also, you are looking at either a 65% or 70% split depending on the coverage you choose.  And you have to be okay with people driving your car and treating it like crap, Turo isn’t going to pay for the little stuff (scrapes to rims, dents/dings/scratches less than 3 inches, etc).  And people will drive your car like a rental and will inevitably smoke in it too. And if you are unlucky enough they may steal it for 10-14 days and you can’t do a anything for 10 days because it’s Texas law and turo won’t pay out on those days either. 

Not trying to sway you either way just some real life experiences from a dude a few hours down the road in San Antonio. 

@Turo Tales  Not doubling down on Turo?  

I started watching your videos about a year ago and now have 6 cars on Turo.  I appreciate the content!

@Brian Phelt  is this something you could help with?

Hey @John Blackrock with that criteria, I would recommend either the NW side or the NW side for single family. I'm not sure how condos and townhomes do here for rentals, condos don't seem to appreciate as well and also many times have high monthly costs. I looked at a condo a few months back that was a wholesale lead and it was difficult to make it work because the condo recently had an assessment for repairs and HOA fees were 680 a month and it still had 3 years on the special assessment.

Hey @Jake Denning, welcome to BP!  I just sent you a message.

Hey Jacob, 

Welcome to BP.  I would recommend reading as much as you can on here, and also getting plugged into some of the local meetups.  There are several options both large and small for meetups but all provide a great opportunity to meet like minded folks.  Let me know if there is anything I can do to help. 

Thanks,

Aaron

  Hey Kathleen, 

Sorry for the slow response, I somehow missed this.  I'm pretty pleased with my two airbnbs and plan on picking up more.   I kind of jumped in not knowing what to expect and had a single family home that I wanted to turn into a rental but bought it before investing in real estate was even a thought that had crossed my mind.  Both STRs do pretty well, every weekend has been booked since I've listed them and throughout the weeks are hit or miss.  The summer has been near 100% occupancy

I'm by no means a zoning expert, but the lot appears to be zoned R-6 which means its zoned for a single family with a lot size of at least 6000 sqft.  

In order to build a multi-family I believe it would need to be rezoned (either MF or RM) or have a variance.  

Also,  I don't know the condition of the foundation but it may be worth getting a second opinion.  Foundation issues are quite common in SA.

Pedro, 

Like many others are saying I think it should be lowered, if its priced right it will rent.   Especially since it's summer and this is the time of the year everyone is looking for a new place.  Let me know if you need someone to run some rental comps and see what other houses in your neighborhood are renting for and what DOM looks like.