{"id":19532,"date":"2021-05-31T06:00:00","date_gmt":"2021-05-31T13:00:00","guid":{"rendered":"https:\/\/turo.com\/blog\/?p=19532"},"modified":"2022-06-30T10:38:54","modified_gmt":"2022-06-30T14:38:54","slug":"how-turo-helped-this-host-expand-his-real-estate-portfolio","status":"publish","type":"post","link":"https:\/\/turo.com\/blog\/canada\/community\/how-turo-helped-this-host-expand-his-real-estate-portfolio\/","title":{"rendered":"How Turo helped this host expand his real estate portfolio"},"content":{"rendered":"\n

This year, host Chase B<\/a>. estimates he is on track to bring in $40,000 in revenue on Turo. He\u2019s got two motivating forces: his love for his family and his competitive streak.<\/p>\n\n\n\n

\u201cMy priority is my family and my kids,\u201d says Chase. \u201cI will always make time to spend time with my children.\u201d<\/p>\n\n\n\n

These values have motivated this Vancouver-based host to become disciplined with his time and diversify his income to make his family less reliant on one revenue stream. His competitive streak has prompted him to build a real estate portfolio over the past 10 years that includes three properties he rents out long term, all while working full-time as a corporate manager at Bell Canada, being a husband, and raising three kids under 10.<\/p>\n\n\n\n

\u201cI\u2019m the most competitive person you\u2019ll find. It runs in the family.\u201d<\/p>\n\n\n\n

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Over time, he\u2019s created a system where his income streams fund each other, generating more value in the process.<\/p>\n\n\n\n

\u201cFinancially, Turo has allowed me to not only expand the amount of cars I have but also reinvest money into the bigger things that I want to do, like real estate. Recently, I bought a pre-sale condo that will be built directly on the land an old restaurant used to be on. That restaurant was my first job right out of high school almost 20 years ago and the money I used was all the Turo money that I made. I don\u2019t spend the money that I make on Turo on unnecessary things. My nine-to-five corporate job funds my Turo hobby and Turo funds my real estate.\u201d<\/p>\n\n\n\n

Turning his passion for cars into a lucrative side hustle<\/h4>\n\n\n\n

If his family is his joy and his work and investments are his pride, then it\u2019s safe to say that cars are Chase\u2019s pleasure. Since he got his first car \u2014 a 1986 Honda Prelude \u2014 he\u2019s owned around 50 vehicles. In 2019, he started looking into ways to turn his passion for cars into some side income through a lucrative side business idea. <\/p>\n\n\n\n

He looked up platforms to share his car and even market tested his vehicles on Craigslist, but he couldn\u2019t find an easy-to-use solution that would protect his assets. That\u2019s when he stumbled upon Turo and figured it would be a good way to make money on the side. Unfortunately, it hadn\u2019t yet launched in British Columbia. He put his name on the waitlist, and several months later was invited to a virtual training session for aspiring BC hosts run by Philipp B<\/a>., an All-Star Host<\/a> on Turo and Pioneer Program mentor<\/a> in Montreal.<\/p>\n\n\n\n

\u201cHe had like five cars on his Turo profile,\u201d Chase recalls about his session with Phil. \u201cHe was telling us how much he makes and the potential and I was thinking, \u201cFive cars\u2026 that\u2019s a lot of cars. One day, I\u2019m gonna beat this guy. I\u2019m gonna have more cars than this guy.\u201d<\/p>\n\n\n\n

When Turo finally launched in BC, Chase didn\u2019t waste time getting his car business started. <\/p>\n\n\n\n

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\u201cI started off with my Volkswagen GTI<\/a>, which was the very first car I put on there,\u201d says Chase. \u201cI had it on there for maybe two days before the first guest booked it and I was like, \u2018This is real. This is happening.\u2019 I got to meet him, and we had a long talk about cars. He went off and came back and the car was perfectly fine. And it just kind of kept happening. Every week or so someone would want the GTI and we would have really deep talks about cars. It\u2019s not just, \u2018Here\u2019s your car. See you later.\u2019 It was a really personal experience, which I enjoyed. And I know they enjoyed it, because my GTI inspired at least three people to buy one.\u201d<\/p>\n\n\n\n

Going the extra mile generates repeat business<\/h4>\n\n\n\n

Eight months ago, one guest had a delay booking Chase\u2019s car while his Turo account was still getting verified. He wound up chatting with Chase while the issue was being sorted out. Once he was approved he booked a GTI, and he had such a good experience that he became a regular guest for Chase, taking his car for two weeks every month. <\/p>\n\n\n\n

These repeat and long-term bookings started to happen more and more with guests. Over the past year, Chase has scaled up his business by using his love of cars, meeting new people, and commitment to customer experience as his unique differentiator. He even wrote a poem about his love of cars and included it on his profile<\/a>.<\/p>\n\n\n\n

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\u201cMy product is not my car. My product is myself. That\u2019s how I stand out,\u201d explains Chase. \u201cI know someone will always have a cooler car or more expensive car. I want to make sure that not only do guests enjoy the car but that it becomes so hassle-free and painless to them that they will always come back. That\u2019s what\u2019s been happening. I\u2019ve had a lot of loyal customers that just come back for the sake of booking with me, and they\u2019ll book any car that\u2019s in my profile. They just prefer to deal with me. I go the extra mile.\u201d<\/p>\n\n\n\n

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From delightful experiences to $40,000 in projected revenue<\/h4>\n\n\n\n

As of May 2021, Chase has six cars on Turo. At one point, he had nine. He purchases cars that he likes driving and that he believes his guests will enjoy driving, too. He also talks to his guests regularly to see how they enjoy their experience  with him and takes their feedback seriously.<\/p>\n\n\n\n

Most of Chase\u2019s guests use his cars to visit local sites and explore Vancouver. Even though he only started during the pandemic, Chase has enjoyed a lucrative 11 months on the platform. In the first six months, he made about $15,000 on Turo and this year he predicts he\u2019s on track to bring in $40,000, so he\u2019s excited about the summer months ahead.<\/p>\n\n\n\n

Plus, owning over 50 cars since high school has given Chase a wide range of experience with different makes and models. <\/p>\n\n\n\n

\u201cName a car and I\u2019ve probably owned it,\u201d says Chase. \u201cI know which ones to stay away from and which ones I can count on. Ninety percent of the decisions I made on which cars to put on is from me, myself, my knowledge, and my experience from the past. And the innovation of the car as well. I\u2019m looking for a car that\u2019s not your average car. I want a car that stands out and that people will appreciate.<\/p>\n\n\n\n

\u201cMy cars are not just meant to take you there. My cars are supposed to make it fun for you to get there.\u201d<\/p>\n\n\n\n

Book with Chase<\/a><\/div>\n\n\n\n
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Get started on web<\/p>\n

Launch your car sharing business using your browser \u2014 you\u2019ll need some info about the car so make sure it\u2019s nearby.<\/p>\n List on web<\/a>\n <\/div>\n

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List on the go<\/p>\n

List a car in a few taps \u2014 download the Turo app to start building your business from your phone.<\/p>\n Download the app<\/a>\n <\/div>\n<\/section>\n\n\n\n\n\n

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 <\/p>","protected":false},"excerpt":{"rendered":"

This year, host Chase B. estimates he is on track to bring in $40,000 in revenue on Turo. He\u2019s got two motivating forces: his love for his family and his…<\/p>\n","protected":false},"author":8,"featured_media":24913,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[15],"tags":[92,19,51],"language":[2],"class_list":["post-19532","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-community","tag-british-columbia","tag-canada","tag-member-profiles"],"acf":[],"aioseo_notices":[],"aioseo_head":"\n\t\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t