So the big question is this, what would you do if money didn’t matter? So you had millions in your bank account, what would you focus on? Would you spend more time with your family, with your wife, with your kids, take family vacations. Would you pursue your gifts and talents and dreams?
Serve your local community, teach others, serve your church. You see if what you would do if money didn’t matter, it was pursuing your gifts and talents and dreams to serve others. And that is probably what you should be doing. The problem is most people are in the rat race, living five inches in front of their face with no time to pursue what they were born to do.
That is the problem…
And the solution is to develop enough passive income to replace your working income so you can quit your job and be free to live your life the way you were created to. That is the solution. And this podcast will show you how.
What’s up guys? This is Ryan Ankle cashflow, dad life, your humble host. And, uh, if you hear a little background noise is because I’m on the road right now. I am a, I’m actually taking my family on an rv trip.
We’re going down to key West in Florida for a nice little vacay with something we do a couple of times a year.
We try to take the RV somewhere and it’s just a great time, you know, family bonding time with the kids and the wife. And, and, uh, sometimes we go with friends too, so it’s a, it’s just a good time. So I apologize for the background noise, but everybody’s asleep right now.
So I just thought of the perfect time to bang out a podcast and this podcast is actually going to be about RVs. Now, a lot of people don’t know this, but rvs are like an incredible source of generating very quick cashflow and longterm wealth as well.
I’ve talked in the past about different strategies in real estate that being a quick nickel, slow dime and I talked about scalable strategy, something that you can do over and over again without using your own money.
And this is something you could do with rvs…
It’s actually an incredible way to develop passive income. In fact, I was able to, within 12 months, I was able to develop over $100,000 in passive income by renting out Rvs, not just my rv, but using other are, uh, other people’s rvs to do it. And there’s actually people out there, I’ve gone, I’ve actually kind of immersed myself in this world.
So there’s producers out there that are making well over six figures!…
I know guy in Michigan who’s making $360,000, guys in California was making over a million a year, uh, no guy in Las Vegas who’s making over a million a year.
And it’s basically taking advantage of the short term rental market. This is something that we’ve talked about in podcasts in the past. How they’re, uh, the short term rental market is incredibly hot, especially the peer to peer market.
Places like Airbnb, Brbo no, they’re kind of taken over that short term rental industry. And people are traveling different, they’re being more creative, they like different experiences. And it’s the same way with Rvs, people are now a, rvs are just kind of exploding in growth.
And every year, like Warren Buffet has just invested a ton of money in rvs and, and every year they break the sales record for rvs.
So more and more people are wanting to travel this way, uh, they use them for Nascar, they use them for tailgating, football events or family vacations is a lot of movie sets that need these things, rented out construction sites.
There’s all kinds of channels to make money by renting these things out on the short term rental market. And the ROI on these rvs is just tremendous. So we’ll get into that a little bit, but just to kind of give you the backstory of how I got started with it.
My wife and I, we had just made some money on a down payment on a house because I was doing real estate and with the down payment, I’d like to say I wanted to reinvest it, but I was like, no, let’s just do something for us.
You know, we had, we had lived kinda like scraping by for so long that we kind of wanted, I wanted something that was just kinda like, hey, let’s give ourselves a reward. We finally have a little bit of a financial cushion, let’s do something.
And my idea was to, uh, was to get a boat to get like a yacht or something like that. And she’s like, look, it’s always been a dream of mine to get an Rv and she has talked about this in the past to get an rv and take some family vacations with it.
And so I was like, all right, you know, that, that is an awesome idea…
I’ll, I’ll put the, uh, the boat idea on the shelf for now. But I do want to see because I, I do subscribe to that, that theory from Rich Dad, poor dad that you don’t say I can’t afford it. How can I afford it?
Because I was like, I want to see if there’s a way for me to make money on this. I want to see if there’s a way that you can rent these things out or something like that.
Um, so that this isn’t just a liability for us. Um, and it’s not just a toy, but it’s, you know, it’s actually an asset. It’s a business purpose. It just makes me feel more comfortable buying one if I know I can make money on it.
So I looked into it and it looked like there was some website setup similar to Airbnb, airbnb and Brbo that were dedicated to Rv’s and renting them out on the short term rental market. So I was like, all right, well I did a little research on it and I was like, I’m just going to try it.
So got the Rv, got a class A, took it up to the smoky mountains. It was a great time. Uh, definitely a, a learning lesson. I mean, I was completely brand new to it.
I like zero experience with driving rvs…
I had zero experience with operating them. A didn’t know anything about them, like just literally no experience. So…it was kind of fun that, that first trip and it was definitely getting over a learning curve, but then I put it on that short term rental market on some of those websites and uh, and I ended up booking it out like crazy.
The first year I made over $30,000 in profit and just the short term rentals just in one month in a, in like a two week time span. I was, I was making like $40,000 a month. One month I made even $6,000 in July. That was the first year I got it.
And so I was like, wow, this is crazy. And I was getting like 20 inquiries a day on the RV. I was like, I had no idea that there was such a high demand for this.
You know, I don’t know if you guys have ever heard that stat that Nascar is the number one sport in the United States. I actually always thought it was like football. When someone told me Nascar, I was like,
Wow, I had no idea…
There’s a huge demand for it now, this is not really anything to do with RV’s, but it, it does in the sense that I was like, I had no idea that there were so many people that like our being that want to take RV trips, you know, I just thought that was something that you retire and you take your kids,…once they’re all grown to go do something.
So I was like, “Wow, this is definitely something here.” And I’m turning away inquiries because I just, I only have me and my one rv. So I thought to myself,
“How can I scale this?”
And I used the principles that I use with real estate. I was like, all right, well, if I’m going to scale this, I need to either use other people’s money, opm or I need to use other people’s assets.
And so what I found out is you could actually go to other people who have rvs and put yourself in these, in the position of these people, people who have rvs, they only use them four times a year.
That’s a stat…
Most people only use their RV four times a year, in fact, most people, it’s actually a little less than that and the rest of the time they’re paying the note on it every month or it’s sitting in storage and they’re paying for storage.
And that’s not good for the RV there because the parts don’t get to be used on the RV, you know, they, they kind of go bad their engines, you know, the oil needs to go through the gas needs to cycle through the engine for them to not break down.
So, it’s actually a tremendous opportunity because all these people own rvs now as a tremendous opportunity to go to them and say, Hey, let’s partner on this. Um, we’ll split it 50 slash 50, 60 slash 40, 70, 30, whatever it is that you negotiate and I will manage your rv in a short term rental fleet.
Okay. And you know, it’s fully insured, going to keep it hotel clean and basically set up a side hustle to where you automate a side business to manage other people’s rvs.
And the cool thing about this is, you know, we talked about short term rentals with like BNB.
Well think about that, and I do this too, I do the BNB rentals, but the thing about that is you’ve got to take the risk and pay for a lease on something and you’ve got to take a risk that it might not book up if you, but at the same time, you’re going to still pay the least.
You’re still going to pay the electric bill. You’re still gonna pay all that with RV’s. You can go to someone and you could say, Hey, let’s partner on this. And because you’re just splitting revenue, you don’t have to pay a monthly lease on it.
You only pay them when it books up and you pay them a percentage of the revenue that you make.
You’re not paying monthly expenses like insurance because insurance, you can pay per trip with the, with the online platforms. They can rent them out on, um, they provide insurance and as per trip insurance.
So you don’t have to pay every month, you just pay when it rents out, you’re not paying electric bills. You know, it’s, it’s sitting in storage, you don’t have to pay for the storage fees or the electric bills. So basically it is a completely zero risk way to use OPA, other people’s assets in order to, um, in order to grow your cashflow, okay to, to grow your monthly income.
Now it’s not a net worth play, but it is a cash flow play.
So what you’re developing is an income stream through a side business. And you know, someone said this, this isn’t mine, but someone’s like, you think about it, you know, look at all the biggest companies in the world.
Okay. Like Uber, Uber is now like the biggest taxi service.
They don’t own a single car. Uh, Airbnb is the biggest hotel business now I think it’s surpassed the biggest hotel chain and they don’t own a single property. Amazon, well used to not sell their own products. Now they sell their own products, but they basically use other people’s products and sold them.
So this is, this is what the world’s billionaires are doing that with the world’s smartest companies is basically using other people’s assets to grow and to generate income streams.
And that’s exactly what you can do with Rvs by going out and using other people’s assets…
And there’s always all kinds of ways to, um, find other people’s RV’s, you know, partnering with storage owners and whatnot.
But actually a lot of people are having a ton of success just putting an ad out on facebook and saying, “Hey, if your rv is just sitting there stagnant, um, and you’d like to make money on it, give me a call and we can talk about how much you can make. All right?”
And it’s just an easy way to use another person’s asset to generate an income stream for you. And the cool thing about it is you can automate the entire business. So everything you do in that business, answering customer inquiries on rentals to the onsite pickup and set up, you can automate it.
So you’re, you’re really only working less than four hours a week. And if you do spend that four hours working, your spending that on growing your business and acquiring more assets, not on the minute details of the business.
Okay? So there’s a way to automate it. Excuse me. There’s a way to automate it as well. Now, here’s the other really cool thing you can do with rvs. Now, that’s one thing, is using other people’s assets to do it.
But you’ve heard me talk about quick nickel and slow dime strategies. The other really cool way, and this is what some of the million dollar producers are doing for Rvs, is they’re basically they’re buying them at wholesale.
And this is different from real estate with real estate…
You have to find, you know, maybe a distressed owner, uh, someone go with the pre foreclosures, a motivated seller to buy a property at a discount with RV’s. You just need to know a wholesale dealer and you can buy them at wholesale, you know, say a class a at $50,000 and you could sell them at retail, that’s $77,000.
Well here’s the cool thing is while you have it for sale, okay, so you bought a $50,000, you’re going to try and sell it at 77,000 while you have it for sale. You can put it on the short term rental market and make that income, make that $4,000, that’s $6,000 a month while you’re waiting for it to sell.
Gaining already comes, furnished it already come stocked because it’s not like a bnb where you find something to lease and then you’ve got to stock it with furniture which are the RV’s are made with the furniture in them and the tvs and the beds and everything.
So that is another really cool way…
Once you have cash, I’m the million dollar producers, they’re buying brand new rvs, wholesale. They’re putting them on the short term rental market and making that quick cash on it with the short term rentals and then they’re flipping them by putting them back for sale.
Okay? On like rv trader or something like that. So that’s another really awesome way to generate both that net worth, um, and that quick passive income cash. So if you guys are interested in learning more about that, I do have a free training on all my resource page cashflow, dad life.com/resources.
I call it the rolling real estate formula. So if you’re interested in learning more about that system and how to set it up, check out that training on my website and I hope you guys found this helpful or insightful at the very least you learn something new.
This is a really cool blue ocean real estate investment strategy that a whole lot of people are not thinking about. So this is definitely something that’s a really cool channel to develop some short term income at the worst case.
If you’ve already got an RV, go ahead and put that on the short term rental market and start making a couple extra dollars and turn that liability into an asset. All right guys, we’ll talk to you next time. Take care. Thanks for listening.
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Until next time, my name is Ryan Enk and this was Cash Flow Dad Life.