The Wealth Without Wall Street Podcast
Growing Passive Income While Still Losing Money
Sep 28, 2023
Learn how to grow passive income while still losing money by exploring new beginnings, selling a business where everybody wins, and investing with confidence. Discover the process of managing a van rental business and the importance of finding the right business partner. Dive into the strategies of selling a business and financing for fluctuating profits. Finally, gain confidence in investing by attending a passive income retreat or scheduling a call with a coach.
30:16
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Quick takeaways
- Renting out a minivan through Turo can be a profitable passive income source with the help of a co-hosting service.
- Selling a business for mutual benefit requires careful consideration of the business's readiness for sale and adjusting terms to account for cyclical profits.
Deep dives
New Beginnings: Exploring the Turo Business Model
The podcast hosts discuss the Turo business model, sharing their personal experiences with renting out a minivan through the platform. They compare different approaches to starting on Turo, highlighting the benefits of using a co-hosting service for a smooth and efficient setup. While one host started from scratch and faced initial difficulties, the other partner leveraged an established co-host to book a trip within 24 hours. Despite experiencing a financial loss in the early stages, they see it as an investment for future success.
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