Looks like I’m getting into the Turo hosting business. It’s the perfect solution to my situation – only in Louisville about half time, no garage to store a car, and rental cars have become rather expensive. On a typical trip I spend 2-3 times as much for a rental car as for airfare – it’s easily the largest travel cost.
By joining an existing Louisville Turo hosting business, I can buy a car, use it for zero cost while I’m here, and then my business partner (who has a successful multi-vehicle business) will place it into rental service for the time I’m away. I can turn a $1500/month expense into a $1000+/month income stream. The catch is that I have to buy the asset, but with that kind of return, I can get full payback on the capital cost in 18 months or so. Kind of a no-brainer.
It’s just like rental property, but instead of the rental asset costing hundreds of thousands, it costs tens of thousands. So now I’m shopping for a vehicle. I’ll probably end up with a minivan because (a) it’s really easy to load up the heavy e-bikes in the back of a minivan, and (b) it’s a very popular Turo vehicle. I don’t love the idea of being a minivan driver while here, but…what the hell. It’s not like I’m trying to impress anyone.