Latest / Inside The Vault with Ash Cash / ITV #251: How He Makes $100K a Month Renting Cars to Uber & DoorDash Drivers | Inside The Vault

Transcript

ITV #251: How He Makes $100K a Month Renting Cars to Uber & DoorDash Drivers | Inside The Vault · Inside The Vault with Ash Cash

0:00
[SPEAKER_00]: People always need two things, a place to live, and a car to drive.
0:04
[SPEAKER_00]: It's the right now, I'm well over 50 cars, making 100 feet a month.
0:08
[SPEAKER_00]: Well, so let me, let me get this right.
0:10
[SPEAKER_01]: All of my life, even in my professional life, cars have been a liability.
0:14
[SPEAKER_01]: I can't tell you the amount of people that will pay their car no before they pay rent.
0:19
[SPEAKER_00]: Now I'll call this the modern day gold rush, where you could just buy and kind of me car.
0:23
[SPEAKER_00]: For three, four, okay, sometimes two, okay.
0:25
[SPEAKER_00]: Can't go ahead and make your money back in 90 days.
0:28
[SPEAKER_01]: Cows you tell me move one I got 90% of my money back easy financial freedom is cool Yeah, not cool if you slay five cars pay me $1800 a month.
0:38
[SPEAKER_01]: That's not thousand dollars like
0:41
[SPEAKER_01]: That's way more than the real estate.
0:42
[SPEAKER_00]: It works in all over the world.
0:44
[SPEAKER_00]: Long as you have Uber drivers there.
0:46
[SPEAKER_00]: Yeah, the delivery drivers, this business work.
0:48
[SPEAKER_01]: This is a business that you could pass down.
0:51
[SPEAKER_01]: Is the rental car business better than real estate?
0:55
[SPEAKER_00]: Wanted to present?
0:56
[SPEAKER_00]: 100% wanted to present with confidence.
0:59
[SPEAKER_01]: Back up that claim.
1:00
[SPEAKER_01]: If you think about it.
1:06
[SPEAKER_01]: I know y'all want to watch in this episode, but listen, if you're an entrepreneur, business coach, business consultant or small business owner who has a story and wants to learn how to create multiple strings of income from that story, I need your text me right now, text me my book to 646-687-4152.
1:20
[SPEAKER_01]: That's my personal number.
1:24
[SPEAKER_01]: I've been an author and publisher for over 15 years.
1:26
[SPEAKER_01]: I've written over 40 books.
1:28
[SPEAKER_01]: Seven of them have been bestseller and I sold over 250,000 copies.
1:33
[SPEAKER_01]: But listen, I also help a lot of my clients take their expertise and put it into a story that creates multiple streams of income from that.
1:41
[SPEAKER_01]: So I want to help you do the same thing.
1:43
[SPEAKER_01]: So text me, my book, to 646-687-4152.
1:46
[SPEAKER_01]: All right, all right, let's get back to the show.
2:06
[SPEAKER_01]: All right, so welcome to another awesome episode of Inside the Vault with Ashcaster.
2:10
[SPEAKER_01]: Greatest money mindset show on the planet.
2:12
[SPEAKER_01]: Listen, everybody wants passive income until they realize somebody still has to build the system.
2:20
[SPEAKER_01]: Today's guest figure out how to turn something most people rent for a weekend.
2:25
[SPEAKER_01]: to a business that has generate millions of dollars.
2:30
[SPEAKER_01]: But here's the crazy part.
2:32
[SPEAKER_01]: It wasn't just about cars.
2:34
[SPEAKER_01]: It was about creating cash flow, build the systems, and teaching thousands of people how to own assets that pay them every single month.
2:45
[SPEAKER_01]: From building LALE rentals into one of the most recognized
2:53
[SPEAKER_01]: to mentoring entrepreneurs nationwide today's guest is becoming known as or is known as the rental car king in this episode.
3:04
[SPEAKER_01]: We're pulling back the curtain on what really works what most people get wrong about this business and why people leave.
3:11
[SPEAKER_01]: We're entering one of the greatest wealth building
3:15
[SPEAKER_01]: Opportunities of this generation if you ever wanted to build cash flow without creating another nine to five for yourself Stay locked in because this conversation could completely change how you think about ownership ladies and gentlemen Introducing the rinse who caught king man.
3:33
[SPEAKER_00]: I appreciate
3:34
[SPEAKER_00]: Yeah, what's that brother stress free brother?
3:36
[SPEAKER_01]: Yes, sir.
3:37
[SPEAKER_01]: Yes, sir.
3:37
[SPEAKER_01]: You're I appreciate you're I appreciate all that you're doing It's especially you know shedding light on Something that a lot of people getting to that over You know since kids we bet you know we love that's my car.
3:51
[SPEAKER_01]: That's my car, right?
3:51
[SPEAKER_01]: So you always the you know cars have always been like something that We're we're looking forward to you know I was a banker for over 15 years and so you know I can't
4:03
[SPEAKER_01]: tell you the amount of people that will pay their car note before they pay rent.
4:07
[SPEAKER_01]: They would go over, you know what I'm saying?
4:09
[SPEAKER_01]: It's like they, so like cars is like a big deal.
4:12
[SPEAKER_01]: And you know, when you hear the term assets over liability, all of my life, even in my professional life, cars have been a liability.
4:20
[SPEAKER_01]: So for you to be able to find a way to flip it.
4:24
[SPEAKER_01]: and create cars as an asset.
4:26
[SPEAKER_01]: That is something that I definitely want to talk about and a lot of my insiders currently work and they always look at facade, how some things are that nature.
4:36
[SPEAKER_01]: And I love the fact that you're saying that you could actually build this while still working on the first percent.
4:41
[SPEAKER_01]: You know, building the systems, cash, low, all that stuff.
4:44
[SPEAKER_01]: But I want to start here before you became the rental car king, who was?
4:50
[SPEAKER_00]: So, with some of my name is Skil King, so I'm originally from Chicago, Illinois, I'm a graduate from University of Illinois, Urbanitarian Pain.
4:58
[SPEAKER_00]: They're graduated and study information technology.
5:03
[SPEAKER_00]: I play at Chicago, I'll decide.
5:04
[SPEAKER_00]: So, right after that, I moved to Los Angeles, and I got a job at American Airlines.
5:10
[SPEAKER_00]: Shout out to the Eagles Miss.
5:12
[SPEAKER_00]: And I was working there for seven years and the pandemic hit, so of course you have a lot of time off in the pandemic.
5:19
[SPEAKER_00]: So I started three ventures.
5:21
[SPEAKER_00]: I started breeding dogs.
5:23
[SPEAKER_00]: I started an e-conventure, selling like face mask case, and then I bought a car to build on my credit.
5:29
[SPEAKER_00]: It's all black and these size centred.
5:31
[SPEAKER_00]: I didn't want to have to pay for that car, because by an asset, which you should never do in this business, I'm not all right.
5:37
[SPEAKER_00]: I'm going to go ahead and put it on a tour.
5:39
[SPEAKER_00]: made a mistake on one summer on tour and I have my rake's way too low, right?
5:45
[SPEAKER_00]: And that was also a 6th century for the whole summer.
5:48
[SPEAKER_00]: I'm like, nah, that can't go, that can't go.
5:51
[SPEAKER_00]: So I wouldn't hit and I've contacted the winner.
5:54
[SPEAKER_00]: I'm like, you know, I still wanna run out to you.
5:56
[SPEAKER_00]: I see you're about to pay a tour of 4K.
5:59
[SPEAKER_00]: Just give me 3K and go.
6:03
[SPEAKER_00]: Pay me 3K once he came to LA.
6:05
[SPEAKER_00]: He was like, enter or something like that.
6:08
[SPEAKER_00]: I'm like, yo, he's just paying me 3K for this black me science century.
6:12
[SPEAKER_00]: to do with this because people always need two things a place to live in a car to drive.
6:16
[SPEAKER_00]: And then so once he paid you the 3K that was like what the aha moment is.
6:20
[SPEAKER_00]: Yeah, I'm like business.
6:22
[SPEAKER_00]: This is a business.
6:23
[SPEAKER_00]: And he kept it for two months.
6:24
[SPEAKER_00]: He brought it back.
6:25
[SPEAKER_00]: No issues.
6:26
[SPEAKER_00]: I'm in great shape.
6:27
[SPEAKER_00]: I'm like, okay, I want I want to take this to another level.
6:31
[SPEAKER_00]: And I knew I needed to just get some type of guidance on it.
6:34
[SPEAKER_00]: When I was back in college, I had some of the best parties ever.
6:38
[SPEAKER_00]: And the way I was able to do that was one of my older fraternity brothers, basically, mentoring me to where I'm able to throw some of the best parties on campus to the point where that company is still around to it.
6:49
[SPEAKER_00]: It's still around to this day.
6:50
[SPEAKER_00]: So I wanted to do the same exact thing with the cars.
6:53
[SPEAKER_00]: And so, so what was your next step?
6:56
[SPEAKER_00]: You got, did you get menstrual shibble?
6:57
[SPEAKER_00]: Yeah, about a mile more cars.
6:59
[SPEAKER_00]: So it's like, yeah, menstrual shibble.
7:00
[SPEAKER_00]: Right.
7:00
[SPEAKER_00]: And so that's going to be menstrual shibble.
7:02
[SPEAKER_00]: And then I just started scaling from there.
7:04
[SPEAKER_00]: Yeah.
7:04
[SPEAKER_00]: Of two years later, I left my job at American Airlines and I never looked back.
7:09
[SPEAKER_00]: Man, so by two years, what was the, what was the amount of cars you had?
7:14
[SPEAKER_00]: By two years, I had about 20 cars to 20.
7:17
[SPEAKER_00]: Yeah, 20.
7:18
[SPEAKER_01]: Please, so let's talk about this for a second like the systems, right, and how do you order that to cash load on stuff?
7:26
[SPEAKER_01]: Because you know, full transparency, I started the same thing, right?
7:32
[SPEAKER_01]: So like during a pandemic was a beautiful time for me.
7:35
[SPEAKER_01]: right because everybody's home I was already doing online content you know I'm a finance guy so everybody wanted to learn how to manage their money grow their money things at that nature and so you know I started doing well all this money is coming in I'm interviewing people
7:53
[SPEAKER_01]: And I kept hearing, you know, you know, you know, you know, you'll get in the red, mid to car, red to car, red to car business, salute to my guy, Maddie J, salute to Pushman Mitch.
8:03
[SPEAKER_01]: I remember having a conversation with both of them, and they were like, you know, having like, you know, you could get rich and give it.
8:09
[SPEAKER_01]: So, unlike you,
8:11
[SPEAKER_01]: I didn't get them into it.
8:12
[SPEAKER_01]: Even though those were my friends, yeah.
8:14
[SPEAKER_01]: I could have went to them, but I thought, like, I might as simple.
8:18
[SPEAKER_01]: I could do it.
8:19
[SPEAKER_01]: Yeah.
8:20
[SPEAKER_01]: I bought five cars.
8:21
[SPEAKER_01]: I had as a money sub were five cars.
8:24
[SPEAKER_01]: And when I tell you, it was the worst experience.
8:27
[SPEAKER_01]: Really, worst thing I could do because
8:31
[SPEAKER_01]: I wasn't getting the car, so now I got a driveway for the cars.
8:34
[SPEAKER_01]: I'm not getting the car's book, unless I have to drop them off at the airport because they didn't want to come get them from me.
8:42
[SPEAKER_01]: So now I have to drop them off, so now me and my wife are full-time.
8:46
[SPEAKER_01]: prop-off people.
8:47
[SPEAKER_01]: You know what I'm saying?
8:48
[SPEAKER_01]: And for me, it wasn't worth it.
8:50
[SPEAKER_01]: And so somebody might, who's watching now, might say, well, I tried this and it didn't work.
8:56
[SPEAKER_01]: What's the secret stores?
8:57
[SPEAKER_01]: What's the, what's the, the Kell King way that allows you to have 20 cars?
9:04
[SPEAKER_01]: and not be overwhelmed and still create a system and a cash flow.
9:08
[SPEAKER_01]: A, have a none of five of you choose.
9:09
[SPEAKER_00]: Yeah.
9:10
[SPEAKER_00]: So right now, I'm well over 50 cars making 100k a month.
9:13
[SPEAKER_00]: Even back then, the solution to make sure your cars are booked out all the time, is a lot of people make the mistake of booking out their cars to people who are just coming in for vacation, when you should really be in that car out to ride share drivers, delivery drivers.
9:29
[SPEAKER_00]: because they're going to keep it for a long period of time.
9:31
[SPEAKER_00]: Yeah.
9:32
[SPEAKER_00]: That's their primary source of income.
9:33
[SPEAKER_00]: Yeah.
9:34
[SPEAKER_00]: So I have for interest that are in my car right now.
9:36
[SPEAKER_00]: They've got my car for a year and a half, two years.
9:39
[SPEAKER_00]: I have somebody who want one of my cars right now, who's had my cars since I started in this business.
9:44
[SPEAKER_00]: Yeah.
9:45
[SPEAKER_00]: Yeah.
9:45
[SPEAKER_01]: And that makes sense, right?
9:46
[SPEAKER_01]: Because it's like a win-win, right?
9:49
[SPEAKER_01]: It's like if I'm rinsed because that's what I was doing, right?
9:52
[SPEAKER_01]: It was like people coming into town.
9:55
[SPEAKER_01]: They didn't want to go through the enterprise or whatever, so they booked a Toro.
9:59
[SPEAKER_01]: Again, I would drop the car off at the airport, but like, let's just say, if I drop the car off, I would have my wife follow me.
10:05
[SPEAKER_01]: Yeah.
10:05
[SPEAKER_01]: And it will drop the car off.
10:07
[SPEAKER_01]: Then I got to jump back in the car and it just became
10:13
[SPEAKER_01]: of fine people who can make money or for your car.
10:16
[SPEAKER_01]: Absolutely.
10:16
[SPEAKER_01]: Right?
10:17
[SPEAKER_01]: And so at the end of the day, it's the course of doing business.
10:19
[SPEAKER_01]: If somebody's paying you $3,000 a month for the car, and I don't know, they're making $4,000, $5,000.
10:28
[SPEAKER_01]: Whatever the case may be, it's a positive for them.
10:32
[SPEAKER_01]: It's a way of living like door dashes, rideshare, overlifts, and things that I
10:39
[SPEAKER_00]: Much of a set.
10:39
[SPEAKER_00]: Wow.
10:40
[SPEAKER_00]: You have to think about it.
10:41
[SPEAKER_00]: It's more people that's door dashing each and every day.
10:44
[SPEAKER_00]: Actually This week I've seen I had that word of door dash all the time.
10:48
[SPEAKER_00]: Yeah, all the time Saying there is a door dash driver that was on foot.
10:51
[SPEAKER_00]: It didn't even have a car It's how many people need cars to this day for door dash over it.
10:56
[SPEAKER_00]: Look there's eye over demand And this is the crazy part.
11:00
[SPEAKER_00]: I can have a hundred cars in the same city.
11:02
[SPEAKER_00]: You can have a hundred cars in the same city and there's still too much demand Why will all be booked?
11:07
[SPEAKER_01]: All right, so, and that was gonna be my other question, right, because it's like, you know, you got 50 cars, 100k a month, but you're saying that the man, right, we're like in my intro, you believe that we're living in one of the greatest times.
11:22
[SPEAKER_00]: This is, I call this the gold rush, right?
11:25
[SPEAKER_00]: You know how, was it back in the day they had the California
11:31
[SPEAKER_00]: Was it 2010 2015 we had Bitcoin Bitcoin was going crazy.
11:36
[SPEAKER_00]: Yeah, but now I call this the modern day gold rush where you could just buy and kind of me car for three for a case sometimes two k. Yeah, right and go hit and make your money back in 90 days and that car keeps making you 20 30 k. Wow, like each car.
11:52
[SPEAKER_00]: So it has a really fast.
11:54
[SPEAKER_01]: Will it.
11:54
[SPEAKER_00]: So let me let me get this right like right now.
11:59
[SPEAKER_01]: I could, I could buy a car for like $2,000, $3,000.
12:02
[SPEAKER_00]: Yeah, I'll say maybe give you yourself a little bit more but a very least probably $2,500 or $3K.
12:08
[SPEAKER_00]: Okay, say it was an 07, so you're able to can't read.
12:10
[SPEAKER_00]: Okay.
12:11
[SPEAKER_00]: And we bought it from maybe $2,700.
12:12
[SPEAKER_00]: So now you can book that out to a door to Azure for $2,50 to $3,00 a week.
12:18
[SPEAKER_00]: Or you want to, you know, spend a little bit more money, maybe like a Ford Fusion, you can buy that for maybe like four or five K. Yeah, and book that out for four or four 50 a week.
12:28
[SPEAKER_00]: But the goal to rule is she makes your money back in 90 days.
12:31
[SPEAKER_01]: And so, and so, so, all right, let's let's let's let's all right.
12:34
[SPEAKER_01]: I got I get a four Fusion.
12:35
[SPEAKER_01]: Yeah.
12:36
[SPEAKER_01]: I pay five k for what's it what's a good what's a good year model so you say oh wait I was a for the for a fusion for your five k somewhere between twenty fourteen twenty sixteen Okay, alright, so alright, so I get I get a twenty fourteen twenty sixteen four fusion um If five k for it
12:54
[SPEAKER_01]: Now, how do I find somebody who wants to hurt each?
12:58
[SPEAKER_00]: And it's completely free, what's starting off.
13:01
[SPEAKER_00]: What you would do is go ahead on Facebook Marketplace.
13:05
[SPEAKER_00]: With Marketplace is basically a peer-to-peer website or part of Facebook, even so different parts of your business or whatever you're selling.
13:13
[SPEAKER_00]: It's going to advertise your cars on there.
13:15
[SPEAKER_00]: So in the title, you're going to put cars for right share or cars for delivery, and then you're going to create a video of you walking around the car and saying this car is available for all right share and delivery drivers along to miles insurance included no credit check.
13:29
[SPEAKER_00]: Now if you post this correctly, you'll get hundreds of hundreds of leads completely for free.
13:33
[SPEAKER_00]: Wow.
13:34
[SPEAKER_00]: Wow.
13:35
[SPEAKER_00]: And then.
13:37
[SPEAKER_01]: Like, so my brain works fat.
13:38
[SPEAKER_01]: I got ADHD, so my brain works in fast, right?
13:40
[SPEAKER_01]: And so, I was just a lot of game, and I don't know about it in the midst of that, because you're saying,
13:46
[SPEAKER_01]: Because that's what I'm thinking.
13:47
[SPEAKER_01]: I'm like, well, while we're in somebody buying their own car for four or five, but probably don't have four five, number one, number two, and you just said it is they might have credit issues.
14:10
[SPEAKER_01]: And so yes, that would be enticing to them because now you're giving somebody who doesn't have an opportunity to make money
14:17
[SPEAKER_01]: double, double thing, right?
14:18
[SPEAKER_01]: You're giving a person who doesn't have opportunity to make money, the opportunity to make money.
14:23
[SPEAKER_01]: But then you also make money every time that they rent it.
14:27
[SPEAKER_01]: And then if they obviously are going to start seeing make a money, and so now they're going to hold the car longer and longer.
14:34
[SPEAKER_01]: Longer.
14:34
[SPEAKER_01]: How fast do you scale?
14:41
[SPEAKER_01]: Like, let's just say somebody like me, what made me not somebody like me?
14:44
[SPEAKER_01]: Because I have like good business acumen, at this time, I'm getting a code.
14:48
[SPEAKER_01]: They're not gonna do my sok.
14:50
[SPEAKER_01]: But if I, let's just say somebody wanted to get into the business, they have no experience whatsoever.
14:56
[SPEAKER_01]: Um, what is the, the, the cadence of scale, right?
15:01
[SPEAKER_01]: Do you, what if, like, you get one car and then once it works, next month, you get two cars, you start at five, like, how do I, how do I get to 50 cars?
15:11
[SPEAKER_01]: Or should I even try to get the 50 cars?
15:13
[SPEAKER_01]: I was I want to make a hand in a game of, yeah, I see.
15:16
[SPEAKER_00]: Go for the 50 cars.
15:17
[SPEAKER_00]: Wait, say for example, if you just start an off, use your very own car to right out.
15:23
[SPEAKER_00]: Or if you're buying a car, you can just start off with two.
15:25
[SPEAKER_00]: Part of what goes to, write them out.
15:27
[SPEAKER_00]: See if you like the business.
15:29
[SPEAKER_00]: And the best part about this business, if you don't like it for some reason, which are highly doubt.
15:33
[SPEAKER_00]: It's a car.
15:34
[SPEAKER_00]: You can always just sell it, you know what I mean?
15:35
[SPEAKER_00]: Right, right, right.
15:36
[SPEAKER_00]: You only voted for 4th power.
15:37
[SPEAKER_00]: Okay.
15:37
[SPEAKER_00]: Max.
15:38
[SPEAKER_00]: Yeah.
15:38
[SPEAKER_01]: Yeah.
15:39
[SPEAKER_01]: Yeah.
15:39
[SPEAKER_01]: I like that.
15:40
[SPEAKER_01]: And then so so so so so what is it about like or or or or talk about the system aspect of it, right, because
15:51
[SPEAKER_01]: mean, you know, let, let, let, let's just say, I might be going to go on a cave, all right, because you've been in the game for years.
15:57
[SPEAKER_01]: You've paid for mentorship.
15:58
[SPEAKER_01]: You know, you know, you know, some things about this business that a lot of people don't know.
16:03
[SPEAKER_01]: But for a lot of people, extra 10 kM of would would be great.
16:09
[SPEAKER_01]: Extra 5 kM of would be great.
16:13
[SPEAKER_01]: But again, you know, people who might be struggling, people might be, they have jobs and all of their time and all their focus is on their job.
16:24
[SPEAKER_01]: Like how do you, how much time do you have to invest in doing this in order to be successful?
16:31
[SPEAKER_00]: So the great thing is, here it's a Turo.
16:34
[SPEAKER_00]: See, yeah, if this was Turo, you, I'll let the three car curves.
16:39
[SPEAKER_00]: Once you hit three cars on Turo, you're overwhelmed by how you were saying, you and your wife had to go to the airport and it was just like too much.
16:46
[SPEAKER_00]: This business, of course, with the Ryashay drivers, once the car is gone, going for six months now, I'm going to set a time.
16:51
[SPEAKER_00]: Yeah.
16:52
[SPEAKER_00]: And I know a lot of people are concerned about getting their first or second car.
16:55
[SPEAKER_00]: Like, I don't, might not have as many financial means to do that.
16:59
[SPEAKER_00]: So if I was to start back over from zero, I would use a method called the Joint Venture Method.
17:04
[SPEAKER_00]: So what I would do is, I would reach out to you or somebody else that I know in my media circle.
17:09
[SPEAKER_00]: and offer them to put one of their cars they already have, and to my fleet and split the profits with them.
17:14
[SPEAKER_00]: But now I have the car that's completely free, and that person gets the chance to earn passive income.
17:19
[SPEAKER_00]: Yep.
17:19
[SPEAKER_00]: So, say for yourself, with my first joint venture I ever did, right?
17:23
[SPEAKER_00]: I was back in one of my acting classes.
17:26
[SPEAKER_00]: I do acting as well.
17:27
[SPEAKER_00]: And I was just telling one of my acting classes about the business, just passion about it.
17:33
[SPEAKER_00]: Yeah, this is an interesting business.
17:34
[SPEAKER_00]: How do I get involved?
17:35
[SPEAKER_00]: So they had a Tesla at the time, so they gave me the Tesla.
17:39
[SPEAKER_00]: And with a 60, 40 split, 50, 50 split, so I was able to make a thousand of them off of the Tesla, and then they were able to make a hundred of them off.
17:47
[SPEAKER_00]: That's an income.
17:48
[SPEAKER_00]: So you know, you start making people money.
17:50
[SPEAKER_00]: Yeah, you're going to want more, right?
17:52
[SPEAKER_00]: So he went ahead and got another Tesla.
17:55
[SPEAKER_00]: So now I have two tassels in my fleet.
17:57
[SPEAKER_00]: Now I'm able to make another $1,000 a month.
18:01
[SPEAKER_00]: And that's with $0,000 coming out of my pocket.
18:03
[SPEAKER_00]: And now of course, we'd love to see that your actual feed or a movie.
18:07
[SPEAKER_00]: I had what's called a nosy neighbor, but in a guilt way.
18:10
[SPEAKER_00]: So if that nosy neighbor, they see me with all these tassels.
18:13
[SPEAKER_00]: And they had a tassel.
18:15
[SPEAKER_00]: So like, you know, I see what you're doing to what the tassel is.
18:18
[SPEAKER_00]: Over to New York, of course, this is an LA.
18:21
[SPEAKER_00]: I'm moving to New York for a year.
18:25
[SPEAKER_00]: I'm like sure, so now I have another Tesla, additional $3K I'm making in total of $0, how to put it into it, three months.
18:32
[SPEAKER_00]: Wow, that's all from the joint venture method.
18:34
[SPEAKER_01]: Wow, wow, wow, wow, wow.
18:36
[SPEAKER_01]: And see, again, I love this methodology because again, this is like giving you the cash flow.
18:44
[SPEAKER_01]: But sometimes things can add up, right?
18:47
[SPEAKER_01]: And so let's just say you own a car,
18:51
[SPEAKER_01]: you, the insurance under your name, what if they get into accident, like what if they don't pay you, like what, what, like how do you protect yourself if you will from some of those things?
19:03
[SPEAKER_00]: That's a great question.
19:04
[SPEAKER_00]: So it's called the graves amendment.
19:06
[SPEAKER_00]: So everybody, of course, you look this up, but it's a federal amendment that protects rental car companies.
19:11
[SPEAKER_00]: The safer example, I had a renter grow on the road and do something reckless, not liable for what they do on the road.
19:18
[SPEAKER_00]: And again, it's a federal amendment, I miss something that hurts and enterprise and the large virtual car companies lobby for and they got to place and that's what protects us in this business.
19:29
[SPEAKER_01]: Wow, and so anybody does anything.
19:33
[SPEAKER_01]: Do you do you put insurance on your car?
19:36
[SPEAKER_01]: Um, and you're so, so like that's that's an expense that's coming from you like you.
19:40
[SPEAKER_01]: Yeah, you ensure the car.
19:41
[SPEAKER_00]: So I use a insurance company is called Romely.
19:44
[SPEAKER_00]: And that's a commercial insurance and the whole purpose of Rome is just for street compliance.
19:48
[SPEAKER_00]: Now I have liability on a vehicle and then, of course, you can put a third party insurance on a vehicle as well, do what's called alliance and then will protect your car in the event of the accident.
19:59
[SPEAKER_01]: Wow.
20:00
[SPEAKER_01]: Wow.
20:00
[SPEAKER_01]: So even if if they do something, do does the, does the, um, what's the criteria for finding a, a driver for the car?
20:08
[SPEAKER_01]: Like, are you really rushing running that background check?
20:11
[SPEAKER_01]: Yeah, what's the
20:12
[SPEAKER_00]: So they have to be 25 plus, and then also they have to be a Uber driver or a delivery driver, right?
20:20
[SPEAKER_00]: And why I said so, Uber and Lyft and all these different delivery apps, they already do a background check for you.
20:26
[SPEAKER_00]: So you're already getting to somebody who has passed a criminal background check and often who have a deal with each other.
20:33
[SPEAKER_00]: Also, I do a background check using a website called Intelious.com.
20:36
[SPEAKER_00]: It's only $20 a year, I think, or $20 a month, and I could do an additional background check on that person.
20:43
[SPEAKER_00]: Then last but not least, I just trust my good.
20:45
[SPEAKER_00]: If I have a bad feeling about somebody, I just don't give them a car.
20:48
[SPEAKER_01]: And then what do you do like, I guess that's a great question like when somebody wants to take the car and put it on tour, I mean put it on Uber or whatever, like are you, are you, is it like a sit down interview, are you talking to them, are you interviewing them, like you had it like what's that process like.
21:06
[SPEAKER_00]: Yeah, so I've go ahead just like from the play I gave you earlier from Facebook Market plays.
21:11
[SPEAKER_00]: Yeah, they'll contact me saying, you know, the generic statement, or is this car available?
21:15
[SPEAKER_00]: They just push them a little button.
21:16
[SPEAKER_00]: So for credibility purposes, I sent on my website or my landing page, video testimonials on there.
21:22
[SPEAKER_00]: Now see that.
21:23
[SPEAKER_00]: Okay, this is a real company, and then I go ahead and get them on the phone ASAP.
21:28
[SPEAKER_00]: Soon as possible, and then I just go ahead and get them booked out.
21:32
[SPEAKER_01]: And then once you meet with them you talk to them are you
21:38
[SPEAKER_01]: Like, what are you doing?
21:39
[SPEAKER_01]: Are you giving them, are they giving you a deposit?
21:42
[SPEAKER_01]: Or they just, or you just like, once you sign them, you just giving them the keys and they're walking away, like, like, like, what was that charging away from $350 or $4.50 a week?
21:49
[SPEAKER_00]: Typically, I don't do deposits.
21:51
[SPEAKER_00]: Only some I did.
21:51
[SPEAKER_00]: I did deposits for a little bit at one point, just because LA is such a nut for what might happen to that car?
21:58
[SPEAKER_00]: Yeah.
21:58
[SPEAKER_00]: Because you have to think about this.
21:59
[SPEAKER_00]: So for a fusion, most things on that car is cheap to fix.
22:03
[SPEAKER_00]: Right.
22:03
[SPEAKER_00]: Only reason I did it to put a deposit once I'm before.
22:06
[SPEAKER_00]: It's because LA is just so big and spread out.
22:09
[SPEAKER_00]: I found the issue of people would not bring back the car once they're done.
22:13
[SPEAKER_00]: Wasn't a repo, they were just like, you know, I'm done with the car.
22:15
[SPEAKER_00]: I don't want to drive 45 minutes back to you.
22:17
[SPEAKER_00]: So you could just come pick up your car, right?
22:19
[SPEAKER_00]: But once I started doing $100 deposit, people started, they really wanted $100 back.
22:24
[SPEAKER_00]: Right.
22:25
[SPEAKER_00]: They started bringing the car back.
22:26
[SPEAKER_00]: And of course, give them their deposit back.
22:28
[SPEAKER_01]: And as you're charging in the 350,
22:32
[SPEAKER_01]: week, are they paying an advance or afternoon?
22:34
[SPEAKER_00]: Oh, you're for sure, definitely an advance.
22:35
[SPEAKER_00]: Yeah, all you got to get, always an advance.
22:37
[SPEAKER_01]: All right, so they pay you to 350.
22:38
[SPEAKER_01]: So, so somebody, you know, is coming in there.
22:41
[SPEAKER_01]: They pay, give you 350 dollars and then they take the car.
22:44
[SPEAKER_01]: And then every week, they renew.
22:46
[SPEAKER_01]: They're never newing.
22:47
[SPEAKER_01]: And then, then, do, do, um,
22:50
[SPEAKER_01]: Are you showing them an invoice is it like autopay like how are you saying that up so me I do still to this day.
22:56
[SPEAKER_00]: No cards at all So I don't have to deal with charge backs only zill or cash 35 plus yeah, certified.
23:04
[SPEAKER_01]: Yeah, so they got to zell you That's smart though that like I see that's I'm saying I got any mentors because I would cuz you know for me
23:13
[SPEAKER_01]: I'm thinking from a perspective of, all right, I want to make sure it just goes automatic, but to your point, you know, you don't want any charge backs, you want, you want to get the funds available immediately.
23:26
[SPEAKER_01]: How do you manage that, though?
23:28
[SPEAKER_01]: Do you have, you know, the software that you use?
23:32
[SPEAKER_01]: How do you know who, who's, and you're like, at 50 cars?
23:35
[SPEAKER_01]: How do you manage that?
23:35
[SPEAKER_00]: Yeah, I have to do
23:37
[SPEAKER_00]: with these thickly cars.
23:38
[SPEAKER_00]: I love to travel, right?
23:39
[SPEAKER_00]: Yeah.
23:39
[SPEAKER_00]: I was all over the place.
23:40
[SPEAKER_00]: Miami, close to Rico, London, um, um, one of the last, so I have to have the right software.
23:47
[SPEAKER_00]: I saw, I used H3 rental software and go high level.
23:50
[SPEAKER_00]: And then I also have what's called a virtual assistants, where they can do anything you and I can do over the phone or computer.
23:57
[SPEAKER_00]: So they're going to head and call you wrenches for a minute.
23:59
[SPEAKER_00]: The payment is due tomorrow.
24:01
[SPEAKER_00]: They send out text messages
24:07
[SPEAKER_00]: Great thing about the virtual systems is that they're overseas.
24:11
[SPEAKER_00]: So, where I can pay them three to four dollars an hour, that's a great way for them overseas.
24:15
[SPEAKER_00]: But, of course, it's called sufficient for us here in America.
24:18
[SPEAKER_01]: Yeah, yeah, yeah.
24:19
[SPEAKER_01]: And that's so dope because, like you said, you like to travel, you be traveling.
24:24
[SPEAKER_01]: Yeah, you be traveling, you're acting, you're acting, you're acting.
24:32
[SPEAKER_01]: So is it safe to say that this business has given you financial freedom in order for you to do whatever you want exactly?
24:40
[SPEAKER_00]: And that was another big reason why I got it to this business, because I'm not an LA.
24:44
[SPEAKER_00]: The world knows that California is expensive.
24:46
[SPEAKER_00]: Yeah, and then of course, the people around me, a lot of creatives, right?
24:51
[SPEAKER_00]: And it was just waiting for that big break.
24:53
[SPEAKER_00]: So I didn't want to wait until,
24:56
[SPEAKER_00]: 60, 70 and have this magical big break and to finally start having money.
25:00
[SPEAKER_00]: No, so but I didn't want to also be stuck in a job that may be paying will, but then, you know, they paying you 80, 90, 100 can't at a job a year, they basically owe you right, so this is like, I didn't need to find that middle ground and this was that middle ground where.
25:15
[SPEAKER_00]: I believe in Los Angeles and travel the world and all this great things and act and do what I want.
25:20
[SPEAKER_00]: But still have that, not just financial freedom, but also that time freedom as well, yeah, you know?
25:25
[SPEAKER_01]: I think that's the other piece that people don't realize is that, you know, like you said, like financial freedom is cool.
25:33
[SPEAKER_00]: Yeah.
25:34
[SPEAKER_01]: not cool if you sleep right like like I know people who are slave to their business and like they work systemally they're they're always on the grind they make a lot of money right so if they if they talk they talk or whatever you like man it's personal loaded but they're missing the the outsiders with their kids they not you know they don't have quality relationships friendships they're not traveling things of that nature and so to have time freedom is like
26:02
[SPEAKER_01]: the ultimate, right?
26:03
[SPEAKER_01]: And if you have money and top freedoms, that's the ultimate life.
26:08
[SPEAKER_01]: You know, all of it, Tico, what you have a mentorship, right?
26:14
[SPEAKER_01]: You know, talk a little bit about what made you want to start teaching people this, right?
26:20
[SPEAKER_01]: Because if you're making 100,000 a month off of 50 cars,
26:26
[SPEAKER_01]: You know, you could be chilling.
26:27
[SPEAKER_01]: You could be like, all right, you know what I mean?
26:28
[SPEAKER_01]: I'm, I've made it.
26:29
[SPEAKER_01]: I'm thinking of this thing out.
26:31
[SPEAKER_01]: What was the, what was the inspiration for starring your program?
26:35
[SPEAKER_00]: The biggest thing for me is I know what this business did for my life and how he changed my life and not just my life for my family life.
26:42
[SPEAKER_00]: First, I'm being able to retire my mother there and help people around me.
26:46
[SPEAKER_00]: So, people already naturally ask me about this business.
26:51
[SPEAKER_00]: Somebody, let me just go ahead and create some type of around what's against this business.
26:56
[SPEAKER_00]: I just love to see other people win as well.
26:58
[SPEAKER_00]: You know, as people that have now been able to quit their job, wow.
27:02
[SPEAKER_00]: And
27:03
[SPEAKER_00]: skill on this business, been able to retire their parents.
27:06
[SPEAKER_00]: So it's just beautiful to see other people around you Flourish as well.
27:10
[SPEAKER_01]: Yeah, well, well, who would you say, or what's the what's the best student you've had on the biggest success story that you like proud of?
27:18
[SPEAKER_00]: Yeah, yeah.
27:19
[SPEAKER_00]: So I have a lot of people that are killing it right now.
27:22
[SPEAKER_00]: One of my students and she's from Columbia, the move to Chicago.
27:26
[SPEAKER_00]: Hello, Cynthia.
27:27
[SPEAKER_00]: She has over 25 cars.
27:29
[SPEAKER_00]: She started a few months ago with one Prius.
27:32
[SPEAKER_00]: Yeah.
27:32
[SPEAKER_00]: So she's been able to quit her job as a desolate hygienist.
27:36
[SPEAKER_00]: I have other students, my guy, Niger, and Florida.
27:41
[SPEAKER_00]: He's a former professional MLB player.
27:46
[SPEAKER_00]: Sorry, four weeks ago.
27:47
[SPEAKER_00]: He's at five cars.
27:48
[SPEAKER_00]: So I'm just seeing that progression in people from like, oh, I don't know about this business.
27:52
[SPEAKER_00]: I'm gonna try it to like, now they have to put it to do it.
27:55
[SPEAKER_00]: Now they're starting to see the cash flow.
27:58
[SPEAKER_01]: Yeah, it's just a beautiful.
28:00
[SPEAKER_01]: Yeah.
28:00
[SPEAKER_01]: And one of the things I I will say though, too, which is why I feel like this is a great business is that number one, we're in the gig economy, right?
28:08
[SPEAKER_01]: And so,
28:19
[SPEAKER_01]: to resting.
28:20
[SPEAKER_01]: I think this stats that talk about the lack of ownership of this new generation, right?
28:26
[SPEAKER_01]: And it's not even just new generation.
28:27
[SPEAKER_01]: There's a lot of older people who are like, or sell in their cars, who are who are, you know, selling their homes and downsize them, living in, you know, like people want convenience.
28:38
[SPEAKER_01]: And so part of that is,
28:41
[SPEAKER_01]: I wanna drive, like it's funny enough that you know, I have a really close friend of mine that does not, two of them actually that I think about it.
28:51
[SPEAKER_01]: I got two friends that don't own cars, but they Uber everywhere.
28:57
[SPEAKER_01]: I'm not talking about like, in my mind, I'm like, yo, you probably Uber the same amount that it would cause for a car note.
29:05
[SPEAKER_01]: What?
29:06
[SPEAKER_01]: They just love the convenience.
29:07
[SPEAKER_01]: They love the convenience of being able to just call a car, pick them up, right?
29:11
[SPEAKER_01]: And so just think about all of them.
29:15
[SPEAKER_01]: people who in all the cities around around around around a tree who are not buying cars, who are living in metropolitan areas, who, you know, so I think I think I think that's gonna increase more and more and more, and like you said, like it's not saturated, like they're gonna need more, you know, more people, what would you say the biggest mistake that people make who are just starting out in the business?
29:44
[SPEAKER_00]: If you just mistake, we'll make when they're starting to all fit.
29:47
[SPEAKER_00]: I ain't the wrong, or the wrong car.
29:48
[SPEAKER_00]: So all by the Lambo first.
29:51
[SPEAKER_00]: Yeah, definitely.
29:52
[SPEAKER_00]: That's the big.
29:52
[SPEAKER_00]: It's a few down the wrong car and then the financing of the car as well.
29:56
[SPEAKER_00]: Yeah, there's people online that saying, you should just go ahead and finance a car.
30:00
[SPEAKER_00]: Which is horrible.
30:01
[SPEAKER_00]: If you do the math, right?
30:02
[SPEAKER_00]: Yeah.
30:02
[SPEAKER_00]: If you do the math and say for yourself, you're the brand new Prius.
30:07
[SPEAKER_00]: And we'll say it's 30K.
30:09
[SPEAKER_00]: And so you weren't out that Prius for two weeks, for 4.50 a week, that's around 9.19K.
30:15
[SPEAKER_00]: So with the net of year, you're still not paned off that car, right?
30:19
[SPEAKER_00]: Versus with this business model, you were now a 2016 Prius, you'd that for 5K.
30:25
[SPEAKER_00]: A is when paid off in three months.
30:27
[SPEAKER_00]: And then everything after that is sure that's profit.
30:28
[SPEAKER_00]: No, I'm pretty much profit, now you're pretty sure of it.
30:31
[SPEAKER_00]: And also, um, put that bank loan, people don't realize you're dealing with the appreciation, you're dealing with the interests, if their car does have an accident or does have downtime, and you still have to pay that bank every 30 days every 30 days.
30:47
[SPEAKER_00]: You could all think about that.
30:48
[SPEAKER_00]: And now you're a little, and that's how you buy it versus that your cash car is down for a few days because of an accident or whatever.
30:56
[SPEAKER_00]: You already pay cash for it.
30:57
[SPEAKER_00]: You're that's good.
30:58
[SPEAKER_01]: Yeah, you're good.
30:59
[SPEAKER_01]: That's good and just to unpack that right like like like that's I didn't think about that.
31:04
[SPEAKER_01]: Yeah, right.
31:05
[SPEAKER_01]: It's like if I you know same same scenario.
31:08
[SPEAKER_01]: I get the Prius at 30 K brand new Prius at 30 K and let's just say about my carno is 500 a month, right?
31:18
[SPEAKER_01]: at 500 a month, you know, just I'm paying 6,000 a month or whatever, or 6,000 a year on on and you're going to put the top tier assurance because it's fine.
31:28
[SPEAKER_01]: Correct.
31:29
[SPEAKER_01]: You're right.
31:29
[SPEAKER_01]: So now you need the top tier assurance in a 6,000 a month.
31:33
[SPEAKER_01]: So you'd let you say how did I you're paying 10,000?
31:37
[SPEAKER_01]: If a year and let's just say, you're like, you say you're making 19,000.
31:42
[SPEAKER_01]: Yeah.
31:43
[SPEAKER_01]: That 19,000 minus that 10,000 now is, you know, you're only making 9,000.
31:49
[SPEAKER_01]: But if something happens to that car and it's out of commission, got to not rob Peter Paypal, but you take his money somewhere else to pay that car.
31:58
[SPEAKER_01]: You still got to pay that car or you know, you know, the bank is not going to be like,
32:05
[SPEAKER_01]: You know, we're gonna pause it since until you get it back on the road, run that or turn the car back and you're going to repo your record and then so so do you do you have Like luxury cars like the Rolls Royce is in the Lamborghini's yeah, and I have the yeah, I do have the luxury cars in the other cars, but I didn't use that for myself A lot of people don't realize that there's a lot of people Can't get the Lambo yeah, I just want to run out of Lambo she don't really want to run out of your Lambo you just doing it to
32:31
[SPEAKER_00]: to use in between time.
32:32
[SPEAKER_00]: But the more smarter things to do is get a cash car and want to pre-assist or for a fusion and then use the proceeds from that to go ahead and pay for your limbo.
32:41
[SPEAKER_00]: Yeah, yeah, yeah, yeah, yeah.
32:43
[SPEAKER_00]: Because you don't make easily $800 a month from cash car, so that could go to one of the two of those can easily pay for a limbo, right?
32:50
[SPEAKER_00]: Whatever could type of car you trying to get, right?
32:52
[SPEAKER_00]: And then you now then, then you never have to rent out your limbo.
32:54
[SPEAKER_00]: Who wants to actually rent out the limbo?
32:55
[SPEAKER_00]: Yeah, yeah, yeah, for sure, for sure.
32:57
[SPEAKER_01]: Yeah, I want to, um, I keep saying this, uh, I'm talking to my, my, my videographer shot, salute to shot, um, I have to do this.
33:06
[SPEAKER_01]: I always want to do like a, um, this series called beyond beyond the world, right.
33:10
[SPEAKER_01]: So you, we inside the vault, but I would love to do a series called beyond the vault, right.
33:16
[SPEAKER_01]: And so you're, most of your cards in LA or we're like, and then I have a few cards in Miami.
33:20
[SPEAKER_01]: Okay.
33:20
[SPEAKER_01]: So like I would love to like,
33:23
[SPEAKER_01]: do like, I come to somebody's business and kind of walk through the business, right?
33:30
[SPEAKER_01]: And so like, let's say if I go to Miami or LA, and I'm like, you're walking me through your business, walking through your business, but then I would also want to just do it.
33:41
[SPEAKER_01]: Right, because I ain't got a lot like I want to I want to white colon, right.
33:46
[SPEAKER_01]: Yeah.
33:47
[SPEAKER_01]: Um, and no matter how much money I make, I really can't justify it.
33:51
[SPEAKER_01]: Like I really can't be like, all right.
33:55
[SPEAKER_01]: I'm a I'm about 500,000 dollar car, right.
33:58
[SPEAKER_01]: Just pan that out.
33:59
[SPEAKER_01]: Just sounds crazy to me.
34:01
[SPEAKER_01]: Then if I get a loan, let's just say, I'm paying four to 5,000, let's say a month for it.
34:06
[SPEAKER_01]: I still can't justify that.
34:09
[SPEAKER_01]: But what you just said to me though, right?
34:12
[SPEAKER_01]: If I instead,
34:15
[SPEAKER_01]: what five right if I bought five cash cards and I got five people paying me Uber right and then let's just say 18 I'll make it close to 10 K on the five cards.
34:28
[SPEAKER_01]: Let's just say if I make an AK for sure on the five cards.
34:31
[SPEAKER_01]: Easy.
34:33
[SPEAKER_01]: I'm okay paying 5,000 of that to get the color them and still have three K left over exactly.
34:42
[SPEAKER_01]: It might be something I got to do, man.
34:44
[SPEAKER_01]: I didn't do it.
34:45
[SPEAKER_01]: Yeah, I think that's what I got to do, man, because, yeah, because they had a free color, man.
34:49
[SPEAKER_01]: Yeah, exactly.
34:50
[SPEAKER_01]: I get a free color.
34:51
[SPEAKER_01]: Like, now I go right around in the color, man.
34:53
[SPEAKER_00]: And I'm not, you know, I'm not paying for it.
34:55
[SPEAKER_00]: Exactly.
34:56
[SPEAKER_01]: Yeah, talk a little bit of, so, so, so, you know, you talked about your, you know, mentorship program and the people who've been successful, but you also do these events, right?
35:10
[SPEAKER_01]: Talk a little bit, so I know you had a mastermind.
35:12
[SPEAKER_01]: Yeah.
35:12
[SPEAKER_01]: We used to talk about the mastermind.
35:13
[SPEAKER_00]: The mastermind was a great build of three-day events.
35:18
[SPEAKER_00]: The great thing about it is you're in a room full of quality people.
35:21
[SPEAKER_00]: Yeah.
35:22
[SPEAKER_00]: I think in life, sometimes we're forced to be around people that we don't want to be around or a situational and not be motivating versus around with the masterminds people that are, of course, in a carousel business, but they want to see you to see, they want to see you to the next level.
35:36
[SPEAKER_00]: And then I'm able to serve and show people how to get into a car with the business and answer questions about insurance or cars to get.
35:43
[SPEAKER_00]: And then also, Kevin, like how you mentioned, people are able to see my actual operation.
35:48
[SPEAKER_00]: So I'm showing them, like, my office, my staff and how I get to wearing them today.
35:54
[SPEAKER_01]: I love it, I love it, and then, you know, I think there's the beauty of having somebody who's done it in the beauty of like real life examples and people you could touch, you know, and kind of seeing real time is important.
36:10
[SPEAKER_01]: How if any has AI affected the car rental business and do you think it's going to happen in fact on it?
36:17
[SPEAKER_00]: thing is made the business even more demand.
36:20
[SPEAKER_00]: Oh, okay, about it.
36:22
[SPEAKER_00]: Oracle, they just laid off thousands of employees.
36:25
[SPEAKER_00]: Yeah.
36:26
[SPEAKER_00]: Oh, and then even with them, I have one of my fraternity brothers.
36:30
[SPEAKER_00]: He got a job at Google.
36:31
[SPEAKER_00]: We just knew he made it like he was making a quarter million.
36:34
[SPEAKER_00]: And then they laid him off because of AR.
36:36
[SPEAKER_00]: Wow.
36:36
[SPEAKER_00]: So if anything, there's more people looking for a gig word.
36:39
[UNKNOWN]: Wow.
36:40
[SPEAKER_01]: Wow, wow.
36:41
[SPEAKER_01]: And then what's your thoughts on sort of like autonomous cars though, like way modes and things that nature do you think?
36:49
[SPEAKER_01]: Like is that gonna be a threat to the business?
36:53
[SPEAKER_00]: No, I look at it just as if the self-checkout line.
36:56
[SPEAKER_00]: Yeah, Walgreens received you guys.
36:58
[SPEAKER_00]: It's an additional thing you could look into, but it's not gonna stop anything.
37:02
[SPEAKER_00]: Especially for the delivery sector, who's going to run up the stairs to do your, you know, your four piece of heroes or anything.
37:10
[SPEAKER_00]: And then there's other ways of delivery.
37:14
[SPEAKER_00]: There's keeping us on Amazon flex.
37:16
[SPEAKER_00]: There's people who are delivering medical careers.
37:19
[SPEAKER_00]: There's so many more things than just over at love against endless.
37:24
[SPEAKER_00]: You keep it in our car as long in terms of traveling, nurses.
37:27
[SPEAKER_00]: Like I said, she even my first very rinsor privately was an insert.
37:32
[SPEAKER_00]: So it's just so many different options that AI is not going to really slow it out this industry.
37:35
[SPEAKER_01]: Yeah, and I love that.
37:37
[SPEAKER_01]: I love that.
37:37
[SPEAKER_01]: Yeah, I think that's what people, you know, most of freight of like the autonomous go like, I'm cool.
37:43
[SPEAKER_01]: Because I remember taking away mo.
37:47
[SPEAKER_01]: And the way Mo was supposed to like normally like it would take me like 20 minutes to I was going to the gym right and the, you know, normally if I, if I drove to the gym is 20 to two minutes I get in a way Mo and way Mo's like 30 minutes, so my 38 minutes, oh my how was it 38 minutes, you know, I kid you not the way Mo like let's just say.
38:06
[SPEAKER_01]: Well, we're in Atlanta.
38:07
[SPEAKER_01]: Let's just say, you know, to get on the highway, you could take Piedmont strength down for whatever reason.
38:13
[SPEAKER_01]: It's on Piedmont.
38:14
[SPEAKER_01]: It turns into like a like it's purposely one of the ways my time.
38:18
[SPEAKER_01]: It turns into a one of the back blocks.
38:21
[SPEAKER_01]: It drives down just to get back.
38:23
[SPEAKER_01]: Well, Pete, I like your fan.
38:24
[SPEAKER_01]: What are you doing?
38:25
[SPEAKER_01]: It was playing.
38:25
[SPEAKER_01]: And I can't even yell at them and be like, yo, take the, you know what you're like.
38:28
[SPEAKER_01]: If you're doing what they want to do that, he's doing what is it, it want to do.
38:31
[SPEAKER_01]: And so I think I think definitely having that human touch is important.
38:36
[SPEAKER_01]: You also do, um, sort of like online summits as well.
38:40
[SPEAKER_01]: Sure.
38:41
[SPEAKER_01]: Right.
38:41
[SPEAKER_01]: So for those who can't make it to LA or Miami, um, you have, uh, you know, summits that you, you know, teach people online, talk a little bit about that.
38:49
[SPEAKER_00]: Yeah, so I actually have a three day summon coming up that's completely free.
38:52
[SPEAKER_00]: Don't people can learn everything that the usually ask about insurance contracts, LOCs, where cars to get and like I said, it's a free event.
39:02
[SPEAKER_00]: I'm just trying to get as many people as possible.
39:05
[SPEAKER_00]: into the space.
39:05
[SPEAKER_01]: Yeah.
39:06
[SPEAKER_01]: Yeah.
39:06
[SPEAKER_01]: Yeah.
39:06
[SPEAKER_01]: And I love it.
39:07
[SPEAKER_01]: I love it.
39:08
[SPEAKER_01]: And what, you know, do you like, let's just say, if somebody, you know, it has cars, right?
39:14
[SPEAKER_01]: Because we talked about buying cars and things in that nature.
39:17
[SPEAKER_01]: If somebody has cars, do you or your mentees do JVs?
39:24
[SPEAKER_01]: Like, like, if somebody has cars and they're like, you know what, I don't even want to go through the hassle.
39:28
[SPEAKER_01]: I want to just give you
39:34
[SPEAKER_00]: around the world and they were to make passive income.
39:37
[SPEAKER_00]: If you think about it, what's my JD partner?
39:40
[SPEAKER_00]: It's per card, they make around $600 a month.
39:43
[SPEAKER_00]: So that's beating stock market.
39:46
[SPEAKER_00]: That's beating crypto.
39:48
[SPEAKER_00]: That's beating all these other investment vehicles right now.
39:51
[SPEAKER_00]: That's big $600 a month.
39:56
[SPEAKER_01]: Give me the ratio of like, is it, is it better to have economy cars or economy cars get you rich?
40:03
[SPEAKER_01]: Because like, let's say like, I have a, I have a Cadillac, right?
40:07
[SPEAKER_01]: I mean, that, um, you know, I mean, I mean, I'm in the process is like, I want to get electric car, right?
40:12
[SPEAKER_01]: And so that, the escalator's probably going to be sitting there, like, is that a car that people would rent rent, rents out, like, like, like, or you can rent a, like, escalator, I do rents it out.
40:23
[SPEAKER_00]: again, you deal with that bank loan, you deal with so many different factors.
40:27
[SPEAKER_00]: If you just, I say keep it so cool, yep.
40:30
[SPEAKER_00]: And if the economy cars, and that's what's going to make you the most money, because again, you make your money back in three months, and then yeah, it's just the most simplest thing to do.
40:39
[SPEAKER_01]: Yeah, and then we're, we're can one find.
40:42
[SPEAKER_01]: Like, how do we call it like cash card?
40:44
[SPEAKER_01]: You said Facebook.
40:45
[SPEAKER_01]: Oh, you're all good.
40:45
[SPEAKER_00]: It was a large place.
40:46
[SPEAKER_00]: Yeah, Facebook market place.
40:47
[SPEAKER_00]: So the best thing for that is Go ahead and find a car on Facebook market place.
40:54
[SPEAKER_00]: And then you want to bring a mobile mechanic with you.
40:56
[SPEAKER_00]: You can find a mobile mechanic from your mechanic.com.
40:59
[SPEAKER_00]: Get them to do work on one of your cars first.
41:01
[SPEAKER_00]: And if they do the work, they're in them with you.
41:04
[SPEAKER_00]: And then, uh, long as that mobile mechanic give you the green light for the car saying there's an
41:11
[SPEAKER_00]: Yeah, I would say go ahead and grab that car.
41:13
[SPEAKER_00]: That's how you prevent from buying a car that might be bad.
41:17
[SPEAKER_00]: But if you would say, oh, these cars are so cheap, $45,000, it's gonna be a limit.
41:20
[SPEAKER_00]: It's like, no, it's a mechanic checking out and it's good to go.
41:23
[SPEAKER_00]: Right.
41:23
[SPEAKER_00]: You're gonna have a good.
41:24
[SPEAKER_01]: And then, so what is the reason why?
41:28
[SPEAKER_01]: Like, why people selling cars like that cheap, right?
41:31
[SPEAKER_01]: Cause I think $4,000 on $1,000, I'm like it.
41:34
[SPEAKER_01]: I'm thinking you go to go to an auction or something like that.
41:37
[SPEAKER_00]: I don't do the auction as well.
41:38
[SPEAKER_00]: Why people sell a marketplace for cheap?
41:41
[SPEAKER_00]: This guy, I think about it.
41:41
[SPEAKER_00]: They've already,
41:43
[SPEAKER_00]: So you've already shot the strength that car in.
41:46
[SPEAKER_00]: You think about it, right?
41:46
[SPEAKER_00]: It's a car max, car max, and low-bathom.
41:50
[SPEAKER_00]: You'll get $1,500, 2K, or whatever other L-s dealership.
41:54
[SPEAKER_00]: So you're damn there doing the first and on marketplace of favor by buying in car for $4,000.
42:00
[SPEAKER_00]: I also do the auction as well, that's been another strength for mine, just recently.
42:04
[SPEAKER_00]: 20 cars on the last two months from the auction, and I've been able to just get come and deliver straight to my door.
42:12
[SPEAKER_00]: And then even with some of my students as well, over there in the play, there are Miami, some are in Maryland, and I'm able to just ship the car to it.
42:22
[SPEAKER_00]: So it's just so many different ways to scale in this business.
42:26
[SPEAKER_01]: What is the, like, what is the mileage that you should be looking for?
42:30
[SPEAKER_01]: So that's why, like I look, I'm, look, as to take as the money makers, right with it.
42:35
[SPEAKER_01]: And so I, so I went, I'm looking right now, like as we speak, I'm on Marketplace.
42:42
[SPEAKER_01]: And I see a four fusion for $5,000, it has a $1,000, it's a 2014, has a 130,000 miles.
42:47
[SPEAKER_01]: I see one, I see a 2017 for $2,25.
42:56
[SPEAKER_01]: And that, but it has 150,000 miles as well.
42:58
[SPEAKER_01]: So a lot of these have a lot of, like, like, miles, what do you think about that, like, like, the miles they don't know matter or what I say, the max is 150.
43:08
[SPEAKER_00]: Then the absolute max is buying at 170.
43:11
[SPEAKER_00]: Okay, oh, sure you can get a good 30 to 50k.
43:14
[SPEAKER_00]: miles out of that car.
43:15
[SPEAKER_00]: Yep.
43:16
[SPEAKER_00]: You'll get to go.
43:17
[SPEAKER_00]: Yeah.
43:17
[SPEAKER_00]: We'll keep these cars at the very end.
43:18
[SPEAKER_00]: Yeah.
43:19
[SPEAKER_00]: I have fusions to this day.
43:20
[SPEAKER_00]: They have a quarter million miles from them.
43:22
[SPEAKER_01]: Quarter million.
43:23
[SPEAKER_00]: Quarter million miles.
43:23
[SPEAKER_00]: They said we're going to shoot 150,000 miles.
43:26
[SPEAKER_00]: Still have to shoot a 150,000 miles from them.
43:28
[SPEAKER_00]: They still run like new.
43:30
[SPEAKER_00]: The thing about it, we're servicing these cars every 30 to 45 days.
43:34
[SPEAKER_00]: Right.
43:34
[SPEAKER_00]: Or all your changes doing like two laps.
43:38
[SPEAKER_00]: Right.
43:38
[SPEAKER_00]: So that's why they last for first along as well.
43:40
[SPEAKER_01]: Right.
43:41
[SPEAKER_01]: Right.
43:42
[SPEAKER_01]: Look, I don't know when it's this, this 2017 for Fusion for $225 sound like $2,250.
43:46
[SPEAKER_01]: I get a 2017 for Fusion, got $150,000.
43:57
[SPEAKER_01]: I take my mechanic on it, it makes sure everything is good.
44:01
[SPEAKER_01]: I put it out on higher car.
44:04
[SPEAKER_01]: I'm getting what foys have 450.
44:06
[SPEAKER_01]: Yeah, for me.
44:07
[SPEAKER_00]: And then, and again, there's no higher car though.
44:09
[SPEAKER_00]: We're just straight straight to the market.
44:11
[SPEAKER_00]: Oh, straight to the market.
44:12
[SPEAKER_00]: Yeah, higher cars.
44:12
[SPEAKER_00]: Because up you get higher cars.
44:13
[SPEAKER_00]: Yeah, higher cars.
44:14
[SPEAKER_00]: So that's no more higher.
44:16
[SPEAKER_00]: Yeah, that's been, they being all.
44:17
[SPEAKER_01]: Oh, that's cool.
44:17
[SPEAKER_01]: Look, look, look, I got all of the maces.
44:19
[SPEAKER_01]: They haven't got any mints or so no higher car.
44:21
[SPEAKER_01]: No higher cars.
44:22
[SPEAKER_01]: I go straight to the market.
44:23
[SPEAKER_00]: Yeah.
44:24
[SPEAKER_01]: 4-59-80-100, you're so movel, you tell me, m-
44:29
[SPEAKER_01]: Cows, you tell me, month one, I got 90% of my money back.
44:34
[SPEAKER_00]: Easy, easy, again, 90 days to get to have all your bread back.
44:38
[SPEAKER_00]: Other big misconception that people have is they'll see somebody like me.
44:42
[SPEAKER_00]: Yeah.
44:43
[SPEAKER_00]: Okay, well, it works great in LA.
44:45
[SPEAKER_00]: Well, I'm in this town over here.
44:47
[SPEAKER_00]: It works in all over the world.
44:49
[SPEAKER_00]: Long as you have Uber drivers there, yeah, delivery drivers, this business works.
44:53
[SPEAKER_00]: I am people that's in Augusta, yeah, storing this and killing it.
44:57
[SPEAKER_00]: 20 cars easy.
44:57
[SPEAKER_00]: Wow.
44:58
[SPEAKER_00]: Wow, easy.
44:59
[SPEAKER_00]: Yeah, I think I think I think y'all about the look.
45:02
[SPEAKER_01]: I'm a I'm gonna take his three day class first though.
45:04
[SPEAKER_01]: I would take I'm gonna take his three days summit first Because I don't want to make the same mistake.
45:08
[SPEAKER_01]: I did last time because I like a legit like I said I have five cars But it'll get out which I knew this you know saying because what I want to do and I want to take it along the cars right I have five cars
45:20
[SPEAKER_01]: It got too much for me, so instead of, you know, instead of, I was like, I'm not doing this no more, so I want to sell in the cars, but then I sold them at a loss, like I paid, you know what I didn't sell them for what I got what I paid, like, people were like negotiate or whatever, and so I really didn't make no money and so I was sort of like against it, but now, I don't know what I'm doing, but now, I don't know what I'm doing, I don't know what I'm doing, I don't know what I'm doing, I don't know what I'm doing, I don't know what I'm doing, I don't know what I'm doing, I don't know what I'm doing, I don't know what I'm doing, I don't know what I'm doing, I don't know what I'm doing, I don't know what I'm doing, I don't know what I'm doing, I don't know what
45:42
[SPEAKER_01]: You made it, you made it really clear on like what I should be doing with best cars You know four fusion two point five liter engine.
45:50
[SPEAKER_00]: That's the gas version of the four fusion Okay, I don't get the 20th this 2013 version.
45:56
[SPEAKER_00]: That's because that was the new body starter came out It has a lot of bugs in it.
45:59
[SPEAKER_00]: Okay, and then no get the 1.5 liter engine.
46:03
[SPEAKER_00]: Okay, and they have a 2.0 liter engine But a four fusion that's the hybrid those are okay
46:08
[SPEAKER_00]: This is electrical.
46:09
[SPEAKER_00]: So some repairs can be more expensive.
46:11
[SPEAKER_00]: Yeah, any Chevy Cruises, the Priests are good.
46:16
[SPEAKER_00]: No Nissan.
46:18
[SPEAKER_00]: No Nissan for sure for sure.
46:20
[SPEAKER_00]: You know my first car is exactly a Nissan.
46:22
[SPEAKER_01]: I already said that.
46:23
[SPEAKER_01]: But so that Nissan very fast.
46:24
[SPEAKER_00]: Yeah.
46:25
[SPEAKER_00]: Yeah.
46:25
[SPEAKER_00]: Um, why don't Nissan?
46:27
[SPEAKER_00]: This is because it's from the average driver.
46:29
[SPEAKER_00]: you know, just go from home to work.
46:31
[SPEAKER_00]: Yeah, you know, that's fine.
46:32
[SPEAKER_00]: Yeah, the CBT transmission.
46:34
[SPEAKER_00]: It doesn't do well for drive.
46:36
[SPEAKER_00]: I got it.
46:36
[SPEAKER_00]: I got it.
46:37
[SPEAKER_00]: I didn't know he was.
46:38
[SPEAKER_01]: Okay.
46:38
[SPEAKER_01]: And what about cameras?
46:40
[SPEAKER_01]: Can't me's a good amateur code.
46:41
[SPEAKER_00]: Okay.
46:41
[SPEAKER_00]: I told you about one of those for $2,500 or $0,253 a week or also go easy.
46:44
[SPEAKER_00]: Yeah, yeah, easy.
46:45
[SPEAKER_00]: Yeah.
46:45
[SPEAKER_00]: Yeah.
46:50
[SPEAKER_01]: So tell me, tell me, I'm gonna paint the picture, right?
46:56
[SPEAKER_01]: Tell me the, the, the, the Cal story, right?
46:59
[SPEAKER_01]: Meaning like once you got, you know, you, you, you're working in America Airlines, you lose your job.
47:09
[SPEAKER_01]: And then you start, you know, you start this car business and you get to the point where you start making money.
47:15
[SPEAKER_01]: What is that?
47:16
[SPEAKER_01]: What is that feeling like by making this money?
47:20
[SPEAKER_01]: And are you like, what's your upbringing?
47:23
[SPEAKER_01]: Like, did your family have money?
47:26
[SPEAKER_01]: Like, you know what I mean?
47:26
[SPEAKER_01]: You make it millions of dollars off of these ones.
47:28
[SPEAKER_00]: What's that like?
47:29
[SPEAKER_00]: You tell you, I wouldn't say it was like, you know, we weren't making those.
47:32
[SPEAKER_00]: We were doing okay, but yeah.
47:35
[SPEAKER_00]: Ow.
47:37
[SPEAKER_00]: It's addictive.
47:38
[SPEAKER_00]: I'm not going to lie because you see the success in the cars and it's so easy to jump from I'm always crunching the numbers from 10k to 20k to 50k.
47:48
[SPEAKER_00]: Yeah, another great thing that's addictive about it is just the impact around me Especially like with my mother and once your mother hit, you know, 50s to 60s all day it's all come out here towering there.
47:57
[SPEAKER_00]: It's all here
47:59
[SPEAKER_00]: Okay, but now just to give like my mother just that ease of like, okay, we're gonna be good every time Yeah, yeah, yeah, you're not gonna have to work, you know for the rest of your life or take the other all the Madeleine move that you're not working where now you want to restrict the income, so I think that's one of my proudest Moses.
48:13
[SPEAKER_00]: I do you don't only shout or you know, I'm the oldest of you know, oh this yeah by my youngest brothers are Is it age gap of 10 years oh wow and then forcing years
48:22
[SPEAKER_00]: Whoa, yeah, whoa, whoa, whoa, whoa, whoa, whoa, whoa, whoa, whoa, whoa, whoa, whoa, whoa, whoa, whoa, whoa, whoa, whoa, whoa, whoa, whoa, whoa, whoa, whoa, whoa, whoa, whoa, whoa, whoa, whoa, whoa, whoa, whoa, whoa, whoa, whoa, whoa, whoa, whoa, whoa, whoa, whoa, whoa, whoa, whoa, whoa, whoa, whoa, whoa, whoa, whoa, whoa, whoa, whoa, whoa, whoa, whoa, whoa, whoa, whoa, whoa, whoa, whoa, whoa, whoa, whoa, whoa, whoa, whoa, whoa, whoa, whoa, whoa, whoa, whoa, whoa, whoa, whoa, whoa, whoa, whoa, whoa, whoa, whoa, whoa, whoa, whoa, whoa, whoa, whoa, whoa, whoa, whoa, whoa, whoa, whoa, whoa, whoa, whoa, whoa, whoa, whoa, whoa, whoa, whoa, whoa, whoa, whoa, whoa, whoa
48:48
[SPEAKER_00]: Then she said a path for them, because I know what I want to call it, I was like, yeah, I'm going to college.
48:52
[SPEAKER_00]: I'm going to study this, but then a lot of people want to leave college, actually use their degree.
48:58
[SPEAKER_00]: Right.
48:58
[SPEAKER_00]: So just to be able to do another path, you know, and the want to college, you're using that degree for whatever reason.
49:06
[SPEAKER_01]: Yeah, and you know what those who are, I mean, you know, like I like.
49:10
[SPEAKER_01]: this business model because, you know, as a financial educator, I always preach that, you know, you show work hard for money, money should work hard for you.
49:20
[SPEAKER_01]: And so when people think about residual income, things in that nature, you know, people think about different ways like I'm an author, so I love books, right?
49:28
[SPEAKER_01]: Because I write the book one time, like you can't pay for it over and over again.
49:32
[SPEAKER_01]: Um, you know, I have like online courses, things at that nature, um, I invest in a stock market.
49:38
[SPEAKER_01]: I have some real estate.
49:39
[SPEAKER_01]: So I have some things that, you know, give me residual income where I don't have to work hard for the money.
49:45
[SPEAKER_01]: Um,
49:47
[SPEAKER_01]: I think about like what you just said, it's like, I almost feel like it's a no-brainer, like what am I not asking you, bro?
49:54
[SPEAKER_01]: Like why am I not doing this?
49:55
[SPEAKER_01]: Like why do I even have this podcast?
49:58
[SPEAKER_01]: Like why am I even not?
49:59
[SPEAKER_01]: I love the help people, but like what am I not seeing?
50:03
[SPEAKER_01]: Is there anything with the fine print?
50:04
[SPEAKER_01]: Is there any fine print in this?
50:07
[SPEAKER_01]: Like if I do this tomorrow, like what I'm saying is why wouldn't I do this?
50:12
[SPEAKER_00]: A lot of people are big thing that I see is they start to over.
50:16
[SPEAKER_01]: Yeah, big time.
50:17
[SPEAKER_00]: They're like, oh, I need to have a perfect, what should you show you, get your LLC?
50:20
[SPEAKER_00]: Yeah.
50:21
[SPEAKER_00]: Perfect LLC, the name for this, and everything perfectly well, I don't.
50:26
[SPEAKER_00]: Yeah.
50:26
[SPEAKER_00]: And it's just just do it.
50:27
[SPEAKER_00]: Just do it.
50:28
[SPEAKER_00]: I done this better than perfect.
50:29
[SPEAKER_00]: Yeah, let's get started.
50:30
[SPEAKER_00]: So maybe you're a very first car, it was an exercise.
50:32
[SPEAKER_00]: Yeah.
50:32
[SPEAKER_00]: We had to run out that knee sign and then transition it over to the future.
50:36
[SPEAKER_00]: You know, this do it is one of the biggest things I want to just tell people, right?
50:42
[SPEAKER_00]: And, like I said, the best thing about this business, you can get traditional finance in, say for example, you've had a 0% interest credit card from Chase, a business credit card, you can put a money from that credit card and use it to pay for the cash cards.
50:57
[SPEAKER_00]: So that is another way.
50:58
[SPEAKER_00]: So, again, you can use your personal car, you can use your funding for it, or even if your credit was jacked up, you can use the JB method where you're using somebody else's car, that's in your inner circle.
51:08
[SPEAKER_00]: Because if you're using the people that's in your inner circle, they know and they know and like and trust you.
51:13
[SPEAKER_00]: So, you get that car easily, easily.
51:16
[SPEAKER_00]: A lot of people don't realize that.
51:17
[SPEAKER_00]: So, there's really no excuse for nobody to not get started.
51:20
[SPEAKER_00]: Yeah.
51:21
[SPEAKER_00]: And then, like I said, there's no such thing as over saturation in this business.
51:24
[SPEAKER_00]: Yeah.
51:26
[SPEAKER_01]: Yeah, I think I mean, like I think I'm a I'm a tried again, because when I think about, yeah, like if I if I could get like I said, I think God right 4K 5K no no big deal, the car.
51:42
[SPEAKER_01]: Immediately and and actually that's that's what that's what I want to do I want to I want to that's my goal right now I want to give five cars and I want to rent all those cars out.
51:54
[SPEAKER_01]: and how soon you think I can get my color and if I do it.
51:58
[SPEAKER_00]: Are first?
51:58
[SPEAKER_00]: Yeah.
51:59
[SPEAKER_01]: Oh, do I need more money?
52:00
[SPEAKER_00]: Yeah, I say yeah, what a comfort.
52:02
[SPEAKER_00]: Cal, yeah.
52:02
[SPEAKER_00]: I say what in 90 days you make your money back then and just go ahead and get the Kelly.
52:06
[SPEAKER_00]: Honestly.
52:07
[SPEAKER_00]: Oh, yeah.
52:09
[SPEAKER_01]: Yeah, he's right, just five cars easy.
52:12
[SPEAKER_00]: Without there, I think a lot of people they worry about the insurance as well.
52:17
[SPEAKER_00]: Right, that's another one question.
52:18
[SPEAKER_00]: Yeah, yeah, yeah, yeah, yeah.
52:19
[SPEAKER_00]: Insurance insurance insurance, yeah.
52:22
[SPEAKER_00]: So what you can do as well for the insurance, another play is you can use a website called Bonset.
52:27
[SPEAKER_00]: This is what all the major rental park companies use as well.
52:31
[SPEAKER_00]: So, say it's called a CDW solution damage waiver and that will protect your car as well of accident.
52:39
[SPEAKER_00]: So, again, don't let the insurance hose you back, you know, like the uh, the just somebody that has like a funny, the funny hose you back, there's so many different ways for people to get started and it doesn't take long.
52:50
[SPEAKER_00]: Yeah.
52:51
[SPEAKER_01]: And then how do I do it?
52:53
[SPEAKER_01]: So, this is the other question, right?
52:55
[SPEAKER_01]: So, if I do a cast purchase of a car, um,
53:00
[SPEAKER_01]: Should I be registering on the mind name, or should I register it under, shall I create an LLC and register it over the L, under the L, L, C?
53:11
[SPEAKER_01]: Yeah, like what's that for us?
53:12
[SPEAKER_00]: Yeah, so you can do it under your name, but of course I prefer the LLC, but either or it works, but especially since you're protected with the graves and they may be.
53:20
[SPEAKER_00]: Ideally I would say you go ahead and put it under the LLC, okay.
53:23
[SPEAKER_00]: And then another big thing is within the contracts, I just have a in-depth information clause in there, just which says, I'm not again, just reiterate, I'm not liable for whatever my retro does.
53:34
[SPEAKER_00]: Yep.
53:35
[SPEAKER_00]: Also, whatever else you're gonna have in that contract, make sure that, and that's the contract which you and the driver, and they're right, yeah.
53:42
[SPEAKER_00]: Okay.
53:43
[SPEAKER_00]: Just, and then make sure you have your other policies in there, too.
53:45
[SPEAKER_00]: Like, you want to make sure that people aren't smoking in your car.
53:47
[SPEAKER_00]: Yep.
53:47
[SPEAKER_00]: Put that in there.
53:48
[SPEAKER_00]: If you're in charge of for anything,
53:50
[SPEAKER_00]: Maybe if they do smoke your cars, $100, especially if you have that in there.
53:54
[SPEAKER_00]: Another reason why you want to have a good contract is because a big thing that people ask me about all the time is ticket and tolls, like somebody in a ticket in your car do it from there.
54:05
[SPEAKER_00]: So the easiest thing to do with that is if you have the proper rental car contract, right?
54:11
[SPEAKER_00]: And on the back of the ticket, it will have an affidavit.
54:14
[SPEAKER_00]: And you're able to fill out that FD was saying, hey, this renter was the actual, I'm a rental car company.
54:19
[SPEAKER_00]: This renter was the person who actually got that ticket.
54:23
[SPEAKER_00]: Here's their name, their license information.
54:25
[SPEAKER_00]: And here's the rental car contract.
54:27
[SPEAKER_00]: And now that ticket we for it, into the renter's name.
54:30
[SPEAKER_00]: And now you're not liable for it.
54:31
[SPEAKER_00]: Wow, wow, that's good.
54:33
[SPEAKER_01]: See, this is what I'm saying, man, like,
54:36
[SPEAKER_01]: any mentorship, you know, because I feel like all of the nuances that you know, I mean, obviously you do this, you've done it, you're doing it every day, so there's nuances that you may not necessarily think about it and I love, you know, I mean, I'm a prime example of it to be honest with you and I don't mind, you know, saying it, but yeah, I was one of those people that
54:59
[SPEAKER_01]: I'm too smart for my own good, right?
55:01
[SPEAKER_01]: I thought I was smart enough.
55:02
[SPEAKER_01]: I'm like, what, you mad at Jay was like, I did 40 cars and you know, I'm looking at Mitch and Mitch is telling me, I mean, you got 30 at the time, because I know you got way more cars now, but he got 30 cars and this and that, I'm like, I can do this.
55:14
[SPEAKER_01]: Like this, this is not rocket science, but then I do it and then I fail miserably.
55:19
[SPEAKER_01]: Yeah.
55:20
[SPEAKER_01]: But then, you know, and then now I'm blaming it like, nah, you know what I mean?
55:24
[SPEAKER_01]: Like, oh, nah, that it don't work.
55:26
[SPEAKER_01]: Yeah.
55:28
[SPEAKER_00]: Yeah.
55:28
[SPEAKER_00]: And I think that's a lot of people, there's people that are confident in this business and comes in confident.
55:35
[SPEAKER_00]: Yeah.
55:35
[SPEAKER_00]: But just because the business model is so supple to understand that they, in the burning into those movie traps, and say all the hard to business doesn't work, but it was like, no, you just have to actually have the blueprint.
55:47
[SPEAKER_00]: Because once you have the blueprint, I've known how to do this and know how to avoid those movie traps.
55:51
[SPEAKER_00]: Yeah.
55:51
[SPEAKER_00]: It's often the racist.
55:58
[SPEAKER_01]: You know, like let's say this is some I paid you for that first week or whatever and they don't pay you Um, let me get that bad boy.
56:05
[SPEAKER_01]: You know, I want to get that bad boy.
56:07
[SPEAKER_01]: He's so hot.
56:07
[SPEAKER_01]: So what do you do like you have like trackers on the car like look.
56:11
[SPEAKER_00]: Yeah So the trackers are recommend is the start about sparing on trackers and then you should have two to three trackers at all the time So the beautiful thing about the go start trackers is a
56:23
[SPEAKER_00]: Oh, different to the dashboard of the car.
56:24
[SPEAKER_00]: So the answer cannot easily find it.
56:26
[SPEAKER_00]: Yeah.
56:26
[SPEAKER_00]: And then it comes with what's called a kill switch.
56:29
[SPEAKER_00]: So now, say that for example, you call a no, ain't paying your money, they can ruin your call.
56:34
[SPEAKER_00]: Yeah, you have to kill switch.
56:36
[SPEAKER_00]: So next time they turn off the car, they can't turn it back on.
56:40
[SPEAKER_00]: So now,
56:42
[SPEAKER_00]: But I have, but I still switch the car off.
56:43
[SPEAKER_00]: I have eyes on it.
56:45
[SPEAKER_00]: And then at some point they won't get out the car.
56:46
[SPEAKER_00]: I'm going to have my spirit key.
56:48
[SPEAKER_00]: And I'm going to go ahead.
56:50
[SPEAKER_01]: I'm going to switch it what, like once you have eyes on it, you know, where you can just what I've been in grab the car.
56:57
[SPEAKER_00]: Yeah, it's always non-confrontational repo.
56:59
[SPEAKER_00]: I never do it when the person's in the car.
57:01
[SPEAKER_00]: Yeah, yeah, I take the spare key.
57:03
[SPEAKER_00]: Of course, they don't want to kill a switch to car and drive away.
57:06
[SPEAKER_00]: Now, that sounds like it's saying they're going to leave something to value in that car.
57:09
[SPEAKER_00]: Yeah.
57:10
[SPEAKER_00]: So then we'll call them or they're going to call you for sure.
57:13
[SPEAKER_00]: It's going to be like magic.
57:14
[SPEAKER_00]: You blow your line up.
57:15
[SPEAKER_00]: Yeah, yeah, yeah.
57:16
[SPEAKER_00]: And then you just make them with a police precinct.
57:19
[SPEAKER_00]: Yep.
57:20
[SPEAKER_00]: And they'll give you your key back.
57:21
[SPEAKER_00]: Yep.
57:22
[SPEAKER_00]: And then you give them a stuff back.
57:24
[SPEAKER_00]: And you're running out to the next person.
57:25
[SPEAKER_00]: Wow, wow, wow, wow.
57:27
[SPEAKER_01]: Yeah, so this like I said like I think this is this is like I don't I don't see
57:32
[SPEAKER_01]: I don't see no wholeness, I don't see like no reason why or rush.
57:37
[SPEAKER_00]: Yeah, but it's better than a gold rush because the gold rush was something I was short.
57:43
[SPEAKER_00]: Right.
57:44
[SPEAKER_00]: This is something that, again, the last, basically, I can really, because you think about it, hurt, to enterprise, they've been around since 1917.
57:52
[SPEAKER_00]: Yeah, yeah.
57:53
[SPEAKER_00]: And it's still to this day.
57:55
[SPEAKER_00]: I'll come, I've won today.
57:57
[SPEAKER_00]: A still be having cars booked out.
57:58
[SPEAKER_00]: Right.
58:00
[SPEAKER_00]: Right, so this is something that is a gold minus endless.
58:04
[SPEAKER_01]: Yeah, yeah, and I think about it come on door to just turn 18 Like man, this is like these did like you talk about your brother is like this is a business that you could pass down easily like you could literally pass down or not even like from a perspective of Is what I'm thinking about because I'm because like I said like I own some some real estate, right?
58:26
[SPEAKER_01]: Like, first of all, to get the real estate on money, right?
58:32
[SPEAKER_01]: And so, let's just say if I'm renting out in a place like Ohio, Cleveland or whatever, let's just say, you know, one of the properties we had is in Cleveland.
58:41
[SPEAKER_01]: We paid like 30 grand or whatever, right?
58:44
[SPEAKER_01]: But at 30 grand, I want to say, but actually that's 30 grand we put down.
58:51
[SPEAKER_01]: So the houses were more than that now.
58:54
[SPEAKER_01]: Well, I don't know.
58:55
[SPEAKER_01]: We probably making like 181, something like that.
58:58
[SPEAKER_01]: Like, over, over rent.
59:01
[SPEAKER_01]: But if I can make $1800 a month, I don't know if I'm, then that's what I'm asking, like what's the loophole?
59:07
[SPEAKER_01]: Cause I'm like, that same $30,000 that we put into that, could have got us the five, five, the eight cars.
59:15
[SPEAKER_01]: Easy, yeah.
59:16
[SPEAKER_01]: If the one car's paying me $1800,
59:19
[SPEAKER_01]: then, you know what I'm saying?
59:21
[SPEAKER_01]: Like if I'm looking at five of the eight cars, and I'm like, I go super duper modest, right?
59:26
[SPEAKER_01]: If I'm going to five times 1800, that's $9,000.
59:32
[SPEAKER_01]: So those five, you know, those five of the eight cars, well, let's say five cars, pay me $1800 a month, that's $9,000, like that's way more than the real estate.
59:45
[SPEAKER_00]: So let, let, let, let, let me let, let, let, let, let, let, let, let, let, let, let, let, let, let, let, let, let, let, let, let, let, let, let, let, let, let, let, let, let, let, let, let, let, let, let, let, let, let, let, let, let, let, let, let, let, let, let, let, let, let, let, let, let, let, let, let, let, let, let, let, let, let, let, let, let, let, let, let, let, let, let, let, let, let, let, let, let, let, let, let, let, let, let, let, let, let, let, let, let, let, let, let, let, let, let, let, let, let, let, let, let, let, let, let, let, let,
1:00:04
[SPEAKER_00]: The car business with my niche over at Tennessee gig drivers can you money back in 90 days and everything after that is pretty much profit versus real estate who in real estate are in the red they're not making money back in but a few years
1:00:21
[SPEAKER_00]: If that and at best, they're breaking even.
1:00:24
[SPEAKER_00]: So, since it's the best across the world in comparison to real estate.
1:00:29
[SPEAKER_00]: Wow.
1:00:29
[SPEAKER_00]: Wow.
1:00:30
[SPEAKER_00]: Because with each car, again, you're making 20 to 30k with each car.
1:00:34
[SPEAKER_00]: Versus real estate, most people again are breaking even.
1:00:38
[SPEAKER_00]: Even if it's safe for example, with the person that's in your house right now, if they were to have to get evicted, it's going to take for it three months, four months, five months to get them out the car.
1:00:46
[SPEAKER_00]: I mean, out the house.
1:00:47
[SPEAKER_00]: Versus the car, it can be the same day.
1:00:51
[SPEAKER_00]: love it.
1:00:52
[SPEAKER_01]: People want to connect, man, they want to take that course with or that or that summit, uh, we can find you so they can find me online on Instagram at rental car King.
1:01:02
[SPEAKER_00]: And of course, um, since, uh, there are a viewer of yours.
1:01:07
[SPEAKER_00]: They DM me the word Ash.
1:01:08
[SPEAKER_00]: I'll come up with a free book.
1:01:10
[SPEAKER_01]: Y'all, let's say y'all.
1:01:12
[SPEAKER_01]: DM him right now, go rent your car king is his handle.
1:01:17
[SPEAKER_01]: DM him right now.
1:01:20
[SPEAKER_01]: Ash.
1:01:20
[SPEAKER_01]: So you can see that ebook because guess what, the ebook is going to break down.
1:01:24
[SPEAKER_01]: What is it going to break that?
1:01:24
[SPEAKER_01]: Everything and anything to get started.
1:01:26
[SPEAKER_01]: So everything you need to get started, he'll DM you that ebook, get started ASAP.
1:01:32
[SPEAKER_01]: And then also look, I would love for you to comment on this post, right?
1:01:36
[SPEAKER_01]: Comment on the show.
1:01:37
[SPEAKER_01]: Um, you know, you know, what what you learned out of here, the value of this, but then I need you if you if you if you listen to him, if you join this program, if you listen to him and you're now, uh, you know, have cash flow coming in.
1:01:49
[SPEAKER_01]: I want you to come back to the same show and typing in there because I'm going to do it.
1:01:52
[SPEAKER_01]: I'm going to do it.
1:01:52
[SPEAKER_01]: I'm going to do it.
1:01:52
[SPEAKER_01]: I'm going to do it.
1:01:53
[SPEAKER_01]: I'm going to do it.
1:01:54
[SPEAKER_01]: And then I want to, I want to, I want to, I want to, I want to, I want to, I want to, I want to, I want to, I want to, I want to, I want to, I want to, I want to, I want to, I want to, I want to, I want to, I want to, I want to, I want to, I want to, I want to, I want to, I want to, I want to, I want to,
1:02:02
[SPEAKER_01]: I want to, like, you're gonna be one of the people that I do, you know, I film on beyond the vault.
1:02:12
[SPEAKER_01]: I want to do that.
1:02:12
[SPEAKER_01]: I want to, whether it's LA or Miami, I want you to walk me through, I want people to see the visuals, all that stuff, and then I want to film me.
1:02:23
[SPEAKER_01]: actually going through the process of buying the car, getting the mechanic, like doing everything that you said, I want to go through that process and I'm gonna take them through like a vlogs now, take them real time, how much money I'm making, how long it took all that stuff, I'm gonna do that.
1:02:38
[SPEAKER_00]: do that.
1:02:38
[SPEAKER_00]: Let's go.
1:02:40
[SPEAKER_01]: Let's go.
1:02:40
[SPEAKER_01]: All right, John, we're calling out the vault again.
1:02:43
[SPEAKER_00]: You know, if you want to, want to connect with you, wickening fond you at rental car King on Instagram.
1:02:48
[SPEAKER_00]: And of course, my YouTube rental car King as well.
1:02:51
[SPEAKER_01]: All right, John, another awesome episode of Inside the Vault with Ashcash, the greatest money mindset show on the planet.
1:02:58
[SPEAKER_01]: Make sure you go to InsideTheVaultShow.com.
1:03:01
[SPEAKER_01]: Follow us on all social media platforms at
1:03:04
[SPEAKER_01]: Inside the vault me I am as cash which you visit me.
1:03:08
[SPEAKER_01]: I am as cash.com follow me on all social media platforms at I am as cash also join the abundance community go to the abundance community dot um We teach you how to live in true abundance both Financially spiritually physically mentally everything so make sure you check us out.
1:03:29
[SPEAKER_01]: I'll see you next time same time same place
1:03:33
[SPEAKER_01]: Peace!