Wednesday, June 23, 2021
HomePassive IncomeHow Mike Braeuer makes $ 1,500 per month renting his motorhome

How Mike Braeuer makes $ 1,500 per month renting his motorhome

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Real estate developer Mike Braeuer first downloaded RVshare in 2018 to sell his $ 8,800 Jayco Jay Flight trailer.

What he didn’t expect was overwhelming interest in his trailer rental, leading him and his wife Christin to earn $ 3,600 in his first 90 days, almost half the value of the unit he intended to sell.

In two and a half years, Braeuer has gone from renting one unit to four, and has accumulated more than 100 reservations for families of all sizes in need of a memorable and affordable vacation.

Being able to share his love of the open road with others is Braeuer’s real asset, although earning thousands per month isn’t bad either.

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Because Braeuer, his wife, and their four children are one big family, they are always looking for ways to cut down on their expenses. In fact, they found the economic benefits of RV life after taking an RV trip to Disney World. They found that what would have been a $ 10,000 trip cost roughly 80% less.

At first, Braeuer was not interested in renting his motorhome. I wanted to sell it. It was his research to find the best place to sell an RV that led him to rent it out with RVshare instead of. Once he learned that renting a motorhome could be a profitable add-on activity, Braeuer set out to help others see the great outdoors at a fraction of the cost. To do this, you make calculated decisions about your investments.

Instead of Class A RVs, Braeuer buys more affordable options and pays for them quickly to make a profit.

Before buying a new or expensive caravan, he advises you to research four critical factors: which models people like to rent, how often they rent them and for how much, and how much that model could buy.

When listing your RV, explore the market and offer competitive pricing. While you don’t want to go too low or too low, it is up to you to decide how much to charge.

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When considering whether the hustle on the RV rental side is worth your investment, keep these tips in mind.

1. Master the art of letting go.

If the thought of strangers in your bed or bathroom is unbearable, even after a cleaning service, renting your space it may not be your calling.

Having people in your space is “probably the biggest hurdle RV owners have to overcome,” says Braeuer. Because ultimately, there are solutions like cleaning services and bedspreads, or even a new mattress, if you need it.

Another harsh reality is that things will break and you should practice patience when they break. Instead of getting angry, work quickly to replace or repair broken items, or coordinate with your insurance company.

After 112 reservations, Braeuer has only filed four “semi-major” insurance claims, with the highest amounting to $ 12,000 after a tenant drove his 15-foot RV under a 14-and-a-half foot bridge and scraped the air conditioning unit Outside the roof.

Although frustrating, Braeuer quickly received an insurance check for $ 12,800 to cover the damages.

Almost three years later, he has a new perspective: “At first, we would have been more sensitive to those nuances of VR that we have become used to because someone who is doing it for the first time will not even know how to ask. [a certain] question.”

It’s easy to blame a tenant who doesn’t know how to turn on the stove or water heater, but these tasks are not second nature to beginners.

To empower your tenants and avoid small (or big) setbacks, Braeuer recommends clear communication up front and pointing people to helpful resources like how-to videos or guides.

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Mike Brauer RV
Credit: Mike Braeuer

2. Get the right insurance coverage.

Although Braeuer had to file an insurance claim on his second booking, RVshare’s Efficiency through the process encouraged him to keep renting.

In addition to his professionalism, Mike was impressed by his help with paperwork and his willingness to help maintain smooth communication between all parties. They took care of everything; all Braeuer had to do was file the claim.

Not all repairs require a claim, but when they do, use RVshare rental insurance:

  • Provides up to $ 1 million in liability coverage and $ 200,000 for comprehensive and collision coverage through MBA Insurance.
  • Rental coverage kicks in for free after listing and reserving your RV.
  • When your RV is covered by RVshare insurance, standard coverage is automatically included in your reservation quote.
  • If your RV is over 15 years old, it only qualifies for liability coverage.

Rates vary for RV models, but Braeuer says RVshare negotiated a fair rate on his behalf and helped him choose the policy that best suits his needs.

You can insure your own coverage if you don’t want to use RVshare insurance. However, you cannot use them at the same time.

And since you can’t fill the coverage gaps in your policy with RVshare insurance, be sure to choose the insurer that provides the best and most comprehensive insurance that will make you and your renters feel more secure in any situation.

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3. Keep Your End of the Bargain – Maintain good customer service.

From documenting every transaction and examining every customer to providing roadside assistance and no upfront costs, RVshare’s platform is a Passive income homeowner’s paradise.

But despite its ease, your rental business won’t thrive without attentive customer service. You still need to be available to answer questions and concerns, like Braeuer does. He makes sure to speak with tenants about their concerns and also supports their vision for their dream RV trip.

And be sure to respond quickly. “If you don’t respond to someone when you hit the ‘book now’ button, you won’t get that reservation,” warns Braeuer.

Good customer service is win-win for everyone – tenants will appreciate your thoughtfulness, and it’s a good tactic to beat your competitors.

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Mike Brauer RV
Credit: Mike Braeuer

4. Get ahead of these costs and get creative to keep them low.

Braeuer’s maintenance costs increased with four units, but he says: “Most residential aspects [of RVs] they are not too expensive to maintain. “

Many repairs are simple and only need a trip to the hardware store and a YouTube tutorial or two. Braeuer estimates that it spends between $ 30 and $ 50 on repairs per reservation. And every fourth or fifth trip, you might have to buy a $ 100 piece.

Cleaning services cost $ 60 per booking, but Braeuer saved money and did the cleaning himself when he had fewer units. Also, you store your units in a small lot that you have access to from a previous employer. This saves the cost of RV storage lots.

Even with rising costs, Braeuer has been able to afford an RV, buy more, and take paid vacations by doing much of the maintenance work himself.

For the same experience, follow in Braeuer’s footsteps. Be open to new skills that require less service from others and be ready to get your hands dirty. You can save on expenses by doing maintenance work yourself or by trading within your network.

It could also help you prioritize living expenses in your budget. Allocate a portion of your earnings each month before paying yourself.

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5. Be aware of the ups and downs of the seasons.

Typically, Braeuer units earn you an average of $ 1,500 to $ 2,000 per unit per month in your city of Austin, Texas. The most popular seasons are spring, summer and fall.

In fact, it recently experienced its most successful months after earning nearly $ 20,000 in May, $ 26,000 in June, and $ 28,000 in July after purchasing its fourth unit.

But Braeuer isn’t alone about the money.

Although it was shocking to experience it at first, his first winter break reminded him and his wife that slow months give them the opportunity to use their own motor home.

Before buying an RV to rent, accept all the possibilities. Sure, you could make money right away like Braeuer. But it can take some time to turn a profit too, especially if you’re not in a popular destination like Austin.

Either way, enjoy what results from the process. At the very least, it doesn’t hurt to know that all you need for a vacation is packing and driving.

Mike Brauer RV
Credit: Mike Braeuer

Renting Your RV: A Hustle Worth Exploring

Braeuer says his life is one experiment after another, and he just waits to see what works.

RVshare it definitely works. He eventually sold his Jayco Jay Flight RV trailer for $ 7,700. Combined with what he earned from renting it, he was kissing more than the unit was worth.

In addition to the financial gains, Braeuer’s journey with RVshare has been filled with positive experiences. He loves to introduce beginners to the world of RVs, and it’s rewarding to help people while managing a side hustle that pays for itself.

You can’t quit your job by renting an RV, but it’s a big side hustle that can help you pay for your vacation and put some extra money in your pocket.

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