RV Rental Business - Tips to Generate Cash Flow w/ Robert Leonard (REI097)
Вставка
- Опубліковано 3 сер 2024
- In this week’s episode, Robert Leonard teaches all about investing in RV rentals by walking through his experience with his first RV rental investment. He discusses why he got into RV rentals, the different types of RVs there are and which are best, how to determine if there’s demand for RV rentals in your area, how to finance an RV, and a bunch more.
Robert Leonard is a real estate investor, entrepreneur, and podcast host.
IN THIS EPISODE, YOU’LL LEARN:
00:00 - Intro
01:35 - How and Why Robert got into RV rentals
09:41 - Buying the RV
16:06 - Closing Process
19:37 - RV rental listing
22:46 - Airbnb RV rental
25:41 - Negative side of RV rentals
31:59 - Camper Vans, Different types of RVs
38:20 - How is insurance handled in RV rentals?
39:53 - How to find a good market for RV rentals?
43:15 - How do you vet renters?
45:48 - Private Property or Dealership?
48:10 - How much reserves are you setting aside?
49:01 - What are your rules and policies?
49:51 - Do you deliver or pick up the RV?
✔️ Subscribe to the Real Estate 101 show: link.chtbl.com/REI
🖊️ Access our free show notes and transcript here: www.theinvestorspodcast.com/r...
⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤
LISTEN 🎧 TO OTHER SHOWS FROM OUR NETWORK:
₿ If you're interested in Bitcoin, checkout our Bitcoin Fundamentals podcast show: • ⚡️ Bitcoin Fundamentals 🔑
📚 Dive into value investing and learn more about billionaires with our We Study Billionaires podcast show: • 💰 We Study Billionaires 🥇
🏘 Learn the ins and outs of real estate investing with our Real Estate 101 podcast show: • 🏠 Real Estate 101 💵
💸 Get introduced to the world of investing with our Millennial Investing podcast show: • 💸 Millennial Investing 🎯
⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤
FOLLOW US ON SOCIAL MEDIA📱:
💻 Facebook: / theinvestorspodcast
👔 Linkedin: / the-investor's-podcast
🐦 Twitter: / tip_network
⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤
📥 Download Stig & Preston's 1-page checklist for finding great stock picks: www.theinvestorspodcast.com/f...
⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤
❗DISCLAIMER: This show is for entertainment purposes only. Before making any decisions consult a professional. This show is copyrighted by The Investor’s Podcast Network. Written permission must be granted before syndication or rebroadcasting.
On Real Estate 101, I talk all about investing in RV rentals by walking through my experience with my first RV rental investment. I discuss why I got into RV rentals, different types of RVs there are and which are best, how to determine if there’s demand for RV rentals in your area, how to finance an RV, and a bunch more! What is your take on RV rentals? - Robert
IMPORTANT: Please beware of cyber scams & phishing attacks. We have received reports of fake accounts claiming to be affiliated with The Investor's Podcast Network or posing as one of our hosts. Please help us report those suspicious accounts. We will never reach out to you for any business or investment opportunity. Stay vigilant!
Great podcast. Very informative. I will add that if someone chooses a pull-behind trailer, you don't have the amount of maintenance that you have with an RV with an engine / transmission. Also, there's a wide range of sizes / types. Some of which can be easily pulled by even a small SUV, small pickup, or car. A lot of them rent out often, and the age isn't as much of an issue.
Good info, I started my RV rental business a couple years ago, currently have 3 travel trailers, it’s been a blast most my rentals are to local campgrounds which I offer delivery
Do you just get a flat monthly fee from the campground and they handle the boring stuff like checking in/out, cleaning etc.?
Hey I'm trying to invest in RV rental can u send me info like how to start please and thank u 🙏❤️
Very interesting business, thanks for sharing your knowledge.
Do you use an entity like an LLC for the rentals?
Great pod cast. Glad it’s going well so far!
Hey dude very useful, need an update on this season!
I've been thinking about buying an RV to rent also. With regards to getting spammed by you renters, I've been thinking about making a video showing how to use each and every feature of the RV and uploading to UA-cam. That should answer 90% of the clients questions.
Hi Robert,
I'm a big fan of your work. I'm also looking to get into RV investing.
I would love to hear more about where you are with this business now, and any tips you have. More than happy to compensate you for your time.
Thanks info I needed! I’m very interested in renting my class c. You’ve been an inspiration!
Wow really cool! Great style of episode and amazing info thanks!
Glad you enjoyed it!
Is there a cut off on the age of the camper
Thank you for this, lot of good info.
Great podcast today. Enjoyed it and thought provoking
Thanks for listening! :)
What is your strategy to combat depreciation? Are you planning to hold your RV until it reaches a certain age or mileage?
From what I understand you have about 15 years to use on the platform so that is your sell age
Those Plateforms do take 20% and than take another huge chunk out of the Renter too. So it like they are dubble dipping. Taken 40% Which sucks. Not only do you make less. Less people will rent it because. The finally cost is much more than what was advertised. Just FYI
The platform fees really are crazy! 25% gets taken from the owner of the RV. Then the customer pays a 20% service fee. And none of those fees include the insurance the customer needs to pay. I am currently working on building a system so I can directly rent my rig out off platform. It’ll just make it cheaper for everyone. Save the customers money and make me a good chunk more as well.
Thanks for the information - great overview!
Glad it was helpful!
We are glad you got dressed before driving to the dealership.
Why didn't you point the airbnb inquirers to your outdoorsy listing?
Do the rv rental third party agencies manage bumper hitch and fifth wheel camper or only class C? Do they have age restrictions for the campers they'll manage?
Did you ever find a spot in the Carolinas? I have 15 acres
How much did you know about trailers before you bought? Did you know what issues to look for before buying? Did you have an independent mechanic look it over? I would like to do this, but know very little about the inner workings of RVs, roofing, electrical systems, etc.
What rv did u buy, used new , year?
This was very informative. Has anything changed with your thought of this being a viable rental type property since this was made or is it still strong? I am in Pensacola Fl and thought of getting a used class a as a rental but didn’t know where to start. So this was helpful. I would love to know more.
Thank you so much for sharing all these insights... how has your experience been with Stripe and RVshare regarding deductions on your bank acc?. Any bad experience?
How would an older trailer do. Possibly 5-10 years old as long as it’s clean. Seems like they depreciate so fast the profit margins would be better if you bought several with cash.
I'm in Conway, right outside Myrtle Beach SC. Let's chat about moving your RV this way.
How is the RV rental in Conway? Send me some I fo plse.
Robert, thanks for sharing this. I was thinking about doing this with Sprinter Vans (empty ones) that people can rent and go. Any thoughts?
Hi Andrew, Sprinter Vans can be a good option, but may not be the best. They typically are very expensive to buy already built and they don’t draw a premium for rental rates. It also has a limited customer base that could hurt demand. There are generally better options, but Sprinter Vans can certainly work. - Robert
@@TheInvestorsPodcastNetwork Thanks for the information Robert! Keep up the great work on the shows. I have seen every one and try to spread the good news about the podcast.
Hey, id like to connect. im about to purchase a class b for renting while i am away as a slow traveler/data scientist. would be great to chat, lots of questions and kinda nervous, and maybe i can help you with your project. maybe we can use some machine learning to investigate your theory? Whats the best way to setup a call?
What Insurance company did you go with? Since it is a Commercial Vehicle.
There is absolutely no money in the r v rental business.You'd be lucky to cover your insurance and payments in one year.
Can u explain more about it plse.
Seems like a lot of work, easier to just buy Bitcoin and sleep at night.
How’s that working for you, Dr?