George Madden
๐ค SpeakerAppearances Over Time
Podcast Appearances
with under five cars.
One to five cars really isn't that much different to manage, but don't buy a bunch of fixer-uppers and not have any of them ready and then they all sit there and not being rented.
Get one car, put it on the road, learn the system, see if you like it, and then start to scale from there.
That's good advice.
I know it probably depends on the market.
Yeah, I'm sure it does.
Don't go buy Ferraris if you're in Greenville, South Carolina.
They're probably going to sit on the shelf.
Greenville's up and coming, but it's not LA.
I've always wondered what the sweet spot is.
You want it to be practical.
You want it to be affordable, but you want it to be reliable.
But then those cars also only get $30 or $40 a day.
How do you find these sweet spots of what cars to get?
We do a market analysis in every single area because it can change.
But if we're looking at just the United States in general, what I've seen become the most profitable and how I've built my business.
We're talking economy cars here that are older, higher miles, and we're trying to find them for about under $12,000 with everything said and done to have the car ready to go.
Because these $10,000 to $12,000 cars are renting for the same amount of money as a $25,000 or $30,000 car.
For example, a killer car for me last year, this car brought in over $15,000 in revenue.
This was a 2017 Mitsubishi Outlander Sport that I got for $8,300.