Ben Eisen
speaker
1,467 appearances
35 recordings
1 series
first heard Jul 2017
last heard Nov 2024
Ben Eisen’s voice in public audio — every appearance, attributed to the second.
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Appearances
WSJ Your Money Briefing · The Pros and Cons of Renting Out Your Car for Extra Cash · 9 Aug 2023
podcast
But if you don't think about all of these things beforehand and just think, hey, I'm going to rent out my car and try to earn a couple bucks on it or do this 10 times over, you might end up in some sticky situations.
The people who do this most successfully are the people who treat it like a real business.
They aren't people who go into it haphazardly.
They aren't people who get super leveraged by taking out tons of auto loans and then need to generate the income to pay the loans.
They grow slowly and methodically as they are able to manage a larger and larger fleet.
And what I found in my reporting is that there's a bunch of different types of
renters.
There's small people who just rent out one car when they don't need it.
And that's one type of way to make money.
And then there's gigantic people who have full fledged operations with lots of employees and such.
And then there's sort of this like middle area, people who have more than a couple cars, but not enough cars to quit their day job and do this full time.
And those are the people who end up running around all the time, putting in the work of a full time job and those types of people can burn out.
It is definitely people who say, hey, I can take on these rental car giants.
That said, it's hard to be a one-person operation or even an operation with some employees handling all the array of situations that pop up with a rental car.
If you ask people who do this and who have also rented out houses on Airbnb, there's a lot more of a range of situations that can happen with these rental car businesses than with renting out a home.
So you really need to be able to plan for all those different situations that arise.
Mortgage applications are up by about a quarter since the end of last year.
Pending home sales, which is a measure of signed real estate contracts, it rose in December after about six months of declines.
The housing market is really an early indicator of how the economy is kind of responding to everything that's happened in recent weeks.
We've seen a strong loosening of financial conditions.
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