All Forum Posts by: Mark Wurtemberg

@Joey Morea

I hope this helps:

What is your occupancy % like? Not sure. Never looked at that. To date I am at 371.93% ROI. Invested $6000 as the downpayment. Gross $46,325 with expenses of $24,009. ($46,325 - $24,009 / $6000 = 371.93% ROI)

It does not seem like there are many future bookings is it more last minute with the rvs? It's a slower time of year. Most bookings are not last minute. Though I have had some last minute bookings. The key is to always have it ready to go.

Do you end up needing to answer a lot of questions on how to work it? Yes. Though I have a 4 page write up that explains everything in detail. And I provide a few YouTube videos to reference. Then I do a 30-45min walk-through and answer all their questions.

What about people who never have driven something so big getting behind the wheel? Any issues with that? - No not really. I had one minor damage. Processed claim and was paid out. 

I would give this a go (though I am in Los Angeles not sure how it will do in smaller towns). It has worked out well for me. Not passive income. But a nice side income.

Mark

Do it. I do this myself. It's great extra cash. https://www.outdoorsy.com/rv-rental/altadena_ca/2018_coachmen_leprechaun_36238-listing?preview=true

@Adam Rowe I think you should do both. Though do your research as I believe older models are not insured through the rental platforms. I think they would both do well. I am not sure what is rented out to Burning Man. I have stayed away from it as I hear the dust is bad and my RV is still new. I plan to consider it as my RV gets older. I would search for Burning Man images on Google to view the style of RVs that are out there. My understanding is that it is difficult to find owners that are will to rent out their RVs to Burning Man....so I am sure you can rent any of them out. 

@Sara Nelson 

I am still renting out my RV. Currently my ROI is 367.49%. It is showing more wear and tear. Some high repairs, new tires ($1200), etc. I do not have plans to sell. I currently plan to keep renting it out. I have been thinking about purchasing another one. I have stayed away from renting for the Burning Man event because of the dust. However, I have learned that some rent out to that event for $8000. I learned of an RV owner that rented 5 to Burning Man. He made $40,000 in one week. hmmmm 

@travis 

@Travis Wylie Thank you for your reply. After posting this discussion my partner and I discussed things further. We discussed the difference between an Ownership Agreement & Management Agreement. To keep it simple my partner mentioned:

1. The Ownership would be 10/90. With the option for me to purchase more of the ownership.

2. The Management would be 50/50. At the end of the day we would split the Net 50/50. (This is more like it)

However, we do need to iron more details out. And this particular deal we decided to not go through with. But I am confident that we will purchase something together in the future. 

I am thinking about going in on a deal that I found with a partner. Of course we would do a PA and cross "Ts" and dot "Is". Here are the terms:

• I put 10% cash down 
• Partner puts 10% down
• Partner obtains loan for balance 80% (because my credit stinks, darn student loans)

• Partner states that under this circumstance he would own 90% and myself 10% as he would have the note 80% plus 10% down. Should he die he doesn't want to leave that burden on his wife. Or if I skipped town that he would be left with the loan of the 80% burden. 

I kinda get his point, however, I feel this is no good for me. Very bad ROI. Even if we made $1000 net per month, that is only $100 to me. In this deal we are coming in with $32,000 each. My return of $1200 a year on $32,000 is below 4%.

I have heard many podcasts with @Brandon Turner & @David Greene. And in these podcasts I have heard more often than not if partner one comes in with the deal and partner two has the money (loan or not) that they split the deal 50/50. Am I wrong? 

My question is: How do I effectively go back to my partner and explain that this is not good for me, explain I need this to be 50/50 as we are coming in with the same amount of cash, and that there are ways to make sure his loan is covered should he or I exit from the deal prematurely?

Thank you. -Mark 

@Nick Kazak I would love to know more about your RV Rental business. I currently rent my Class C through Outdoorsy and RVshare. It has been very profitable. 

I have received my original investment back. Currently my ROI is 122.97%. It is not getting beat up, but it does show wear and tear. Items do break. Most are paid by renters from their deposit. But with all that said and still some repairs and maintenance coming out of my pocket, I am still at 122.97% ROI. I would do it.

Thank you @Mike Dorneman. When you say local, would that me local to me, in Los Angeles, or local to my property, in St. Louis?