Episode No. 84

From 9 to Drive: Unveiling the Roadmap to Starting A Turo Business w/ Brianna Mulzac and Tyrell Taylor 

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Episode No. 84

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SHOW NOTES

Join us today at Share The Wealth Show as  Brianna Mulzac and her partner Tyrell  Taylor share their inspiring transformative journey from full-time employment to the flourishing realm of car rental business. 💥

Tune in 🎙️ and be inspired as Brianna and Tyrell unfold the roadmap that guided them to build a successful business – a testament to the possibilities that await those with passion and perseverance!

Briana Mulzac, a dynamic entrepreneur from Brooklyn, has emerged as a trailblazer in the home and car rental industry, excelling on platforms like Airbnb and Turo. Over the past year, her business has achieved significant success, boasting a six-figure gross revenue. Briana’s success is attributed to her passion for hospitality, business acumen, and commitment to providing exceptional rental experiences. Her ability to identify unique properties and quality vehicles, coupled with a focus on customer satisfaction, has set her apart in the competitive market. Briana’s deep roots in the Brooklyn community and dedication to local businesses and sustainable tourism make her a respected figure. Looking forward, Briana envisions expanding her business and continues to inspire aspiring entrepreneurs with her story of passion, innovation, and hard work in the evolving landscape of home and car rentals.

Tyrell Taylor, a former Division 1 basketball player turned entrepreneur, draws on the teamwork and resilience ingrained in his basketball career for his ventures. As the founder of BLVCK Market Agency, he leads a team focused on creating innovative marketing experiences by merging creativity with data-driven strategies. Tyrell specializes in the sharing economy, collaborating with partner Brinana Mulzac to bring innovation to platforms like Airbnb and Turo. Beyond business, he is recognized as a visionary leader, inspiring others with his commitment to excellence and genuine support for their success. Tyrell’s brand is synonymous with ambition, resilience, and an unwavering pursuit of excellence across basketball, the boardroom, and the sharing economy.

 

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Interested in investing in small multifamily? Learn more about The Microfamily Mavericks mentorship program here:

https://noirvestholdings.kartra.com/page/microfamilymavericks 

 

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Thesharethewealthshow.com    

 

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Key Quotes:

“Some people are afraid to lose money especially in investments but for us risk-takers, we understanding the realm of investments and we embrace the risk of it. For us the risk-to-reward ratio is not just a metric; it’s a guiding principle. We thrive on navigating through the uncertainties, emerging on the other side with a profound appreciation for the process” – Brianna Mulzac

 

“ Sometimes you don’t know what the end goal is, you just need to know your next step. And then before you know it, you’ve taken 10 steps and you’re further than where you were when you took that first step.” – Tyrell Taylor

 

Connect with Brianna and Tyrell!

Beginners Guide to Turo E-book

Master Link to our Airbnb Rentals

Link to Briana’s Car Rentals on Turo

 

You can find Brianna at

LinkedIn https://www.linkedin.com/in/briana-taylor-mulzac-72094aaa/ 

Instagram https://www.instagram.com/brianamulzac/?hl=en 

Tiktok https://www.tiktok.com/@brianamulzac?lang=en 

 

You can find Tyrell at

LinkedIn https://www.linkedin.com/in/tyrell-taylor/ 

 

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Let’s get connected! 

You can find Nicole on 

LinkedIn https://www.linkedin.com/in/nicole-pendergrass/

Instagram https://www.instagram.com/nvestornikki/?hl=en

Facebook https://www.facebook.com/nvestornikki

or Visit her website https://noirvestholdings.com 

 

Transcript

 

[00:00:00 – 00:00:39] – Tyrell Taylor

One day I was at work board and I was like, well, hypothetically, let us say I just wanted to buy a car and put it on Toro. And I put in the number of reasons. And the numbers just made sense. you know, all the way on the right side, it says, is it a good deal? Says yes or no. And I was like, well, this, this seems like it makes sense. Um, and like literally the day I was looking into with the next day I purchased the car. And it has been working beautifully for me ever since. But every month has been working well. Last month was my best month yet. Uh, the first month in compared to the second month, my profits. Triple? Yeah, triple.

 

[00:00:40 – 00:01:15] – Intro

Welcome to the Share the Wealth Show, where minority professionals can learn to escape the racial wealth gap and catapult themselves into abundance. Your host, Nicole Pendergrass, grew her net worth from being negative to multiple six figures. Join her on her investigative mission to expose secret strategies of the wealthy so we can all have the tools needed to build the life and legacy we were created to possess. Now it’s time for the show.

 

[00:01:16 – 00:02:28] – Nicole Pendergrass (Noirvest Holdings)

All right, everyone. Welcome back to another episode of the Share the Wealth show. This is the show where we discuss strategies on how to build, grow, and protect minority wealth. And today I have with me Briana and Tyrell, and I am so excited to introduce them to you all. And kind of you’ll hear the story of some of the drama I’ve been going through, but you know, we are officially new business partners, and I’m super excited for this next venture. I’m excited to see their growth as a business duo. And I want to jump into everything that they’ve been up to, what I’ve been up to, this opportunity, which is not new. I know you guys have heard about it before, but maybe you just need a reintroduction, or maybe you want to know how to do this for yourselves, or how to find someone who would potentially help you do it like me. Okay, first, I actually want to ask you both a random question. I don’t if I should ask you both the same question or different. You’ll answer the same question, we’ll see. What are your most, or what are people afraid of that doesn’t scare you?

 

[00:02:29 – 00:02:55] – Briana Mulzac

Some people are afraid to lose money. And I think when people trying to get into investments, that people are very afraid, they’re scared. I feel like, for us, we’ve been risk takers, and the risk with the word racial, we always home it out, and see through that process. So I think that’s one thing that people can be afraid of, that we haven’t been afraid of.

 

[00:02:56 – 00:03:51] – Tyrell Taylor

I was saying one thing, or another thing people are afraid of, is taking that step. So, I know before we did this phone time, we were working. Very corporate jobs and we both realized, you know, like it’s not for us, it’s not that lifestyle. We felt was putting a ceiling on our growth and we felt like we’ve had we have so more of both individually and collectively that we can contribute to ourselves for our lives. And we just took that leap of faith and sometimes you don’t know your next step but sometimes you don’t know what the end goal is but sometimes you just need to know your next step. And then before you know it you’ve taken 10 steps and you’re further than where you were when you took that first step. So yeah.

 

[00:02:56 – 00:03:51] – Nicole Pendergrass (Noirvest Holdings)

Have you been reading like all of my past posts and like diving into the psychology of how I both of you like as basically we literally think the same. That’s exactly what I say all the time. I post about it all the time like definitely taking that next step not being afraid to take a little risk. Because scared money don’t make money, right? I know we all heard that before and it’s very true. I love that answer. That was up call. But like you guys bounced right off the wall with that. That was fantastic. it. Okay. So what in your past or what do you think happens in the development of that of your mindset now and we both see the what we all see you have a very growth oriented mindset, right? But what happens do you feel like that led up to you developing that kind of mindset because a lot of people don’t have that.

[00:03:52 – 00:05:33] – Briana Mulzac

 Yeah. Definitely like Tyrell said being in situations or jobs where You felt like there’s a ceiling on like your growth and potential and then also Kind of just for me personally being someone that’s like rebellious and wants to be on my own timing own schedule I’ve saw that certain positions and certain jobs didn’t really mesh well with me. I needed to figure out my lane and what I was able to do every day comfortably, confidently. that’s what’s led me more so into the entrepreneurial mindset. And just that kind of mindset and that take charge mentality over my life. So I guess those situations.

 

[00:05:34 – 00:05:35] – Nicole Pendergrass (Noirvest Holdings)

Same for you, Tyrell.

 

[00:05:36 – 00:06:24] – Tyrell Taylor

Yeah, for me, it was more so the repetition of a job. If you have an easy job, some people are satisfied with that. Or you do the same thing every day. Some people are really satisfied with that. For me, I feel like if I could do the same thing for myself and there’s an unlimited amount of potential of really how much money I would be able to make, I might as well apply those skills that I’ve learned over the years to myself. So rather than doing it for someone else and only making X amount of dollars per week. So once I realized that, hey, you know, like you could really just be doing the street. So that’s what really kind of pushed me out of feeling comfortable just doing it for someone else.

 

[00:06:25 – 00:06:59] –  Nicole Pendergrass (Noirvest Holdings)

Nice. And what about your, what about your childhoods? What, like, how do, what kind of household did you grow up in, like normal, like middle class? Was there struggles that you have, like, silver spoons in your mouth? what was the the foundation and the framework for even getting to like, okay, now I’m at this job. And I realized that this monotony or, you know, cap on my ceiling is not really for me. You know, like, I want to do my own thing, could do it for myself. But that had to stem from somewhere.

 

[00:07:00 – 00:08:56] – Tyrell Taylor

Yeah, I’ll start with this one. So I, my family didn’t really struggle. But my, my, I would say drive came from working with my father when I was young. I had no choice but to work with my father. They didn’t really want to, my parents didn’t want to work. I mean, they didn’t want to pay for like a babysitter or anything. And my dad, he owned his own construction company. So he would just take me to work. I hated it though. I didn’t like going to work. During summer vacations, school vacations, he would always just say, you’re going to work with me. And I was, and especially when I got to the age where I could stay home. And they, and my father should say, you’re not staying home when you’re coming to work with me. I didn’t like it personally. And this is nothing against my father. He just had his own set ways of doing things. And I didn’t, like, it didn’t mesh well with me as if the young person just trying to learn. But also a young person feel like they had so much to contribute. And my dad, he had me there like a more of a handyman. As I got a little older, I got like some privileges to like help do some construction projects, but I wanted my own construction project. And from, from, you know, just going to work every day with him, feeling miserable in the sense of like, I didn’t want to be here. That’s what really kind of standoff, like my mentality of if I’m not enjoying my job. I always find another job. That’s how it kind of started. It started off as I can always find another job that I don’t like my job. And then it transitioned from I can always find another job to I can always do this for myself. So.

 

[00:08:57 – 00:10:16] – Briana Mulzac

Yeah, for for me, I grew up, I would say middle class, but I saw the change when I was younger. My people, my parents, they were working, you know, city jobs, but I was a working correction. My mom was working for the city. And then I saw the change. changed my dad once he retired really young and then he started to work in real estate. And so when I was younger back in like 2010 he started in Airbnb and stuff like that and then I started me and my sibling became the cleaning crew. But just kind of working with my parents and kind of seeing the trajectory of like just two different projects of work one entrepreneurial and then in one you know having a stable income stuff like that I was able to see the dynamic of the two different work styles. But ultimately that was like the household that I grew up in grew up in Bedford-Suyverson and I’m one of five and then I have my two parents. So it was like a Brady bunch household honestly and yeah I was able to see the change within my parents’ financial situation and also the change within my neighborhood and like gentrification to in Brooklyn. So it was it was a nice transition I guess over the past. you know, 15 years just, yeah, from my living situation and my environment.

 

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[00:11:58 – 00:13:02] – Nicole Pendergrass (Noirvest Holdings)

Yeah, I was going to point out just for anyone listening, didn’t know where bedside was. That’s in Brooklyn. That is notorious now for being highly gentrified compared to what it was, you know, especially, you know, in the 80s, 90s, which I know is both before both of our times. We didn’t grow. We went to have been around during that time. We didn’t grow up really to enough to know what it was like. But you’ve been there long enough to, like you said, be able to see and notice all the changes that was happening in the community. Okay. So I love both those backgrounds, definitely kind of so seized of entrepreneurialism into your minds. And I think, I think that’s great. Honestly, as a parent now, and hearing your story, Tyrell, I’m thinking, maybe your dad was being like having a secret mission of not wanting his young son to have a house to himself during the summer. And do it. Who knows what I hated every how to trouble. I think that’s probably what his secret motive was.

 

[00:13:03 – 00:13:22] – Tyrell Taylor

I hated every day of it, but not at I’m older. I’m actually like now working in in different Airbnb’s in real estate. Related spaces where I now have knowledge that I’ve acquired from all those miserable days’ worth on my father. I thank him now definitely do thank him now.

 

[00:13:23 – 00:14:15] – Nicole Pendergrass (Noirvest Holdings)

It is definitely you know those those times that we go through that are tough or at least with things that we just don’t want to even have to deal with and it’s just good look back sometimes and sometimes this year and the years of doing something that you think is going to turn out one way or you might have an opportunity like you say you had an opportunity one time to help with something but you want to join a construction project. So maybe that was a underlying ray of hope you know in going each day. But it’s like those things we never expect what we’re really learning on the back end of bad or boring or horrible circumstances. They always end up giving us something that we need to use later on. And if we didn’t have it, they would have figured it out. But why figure it out? already figured it out before, you know, it kind of helps shortcut future endeavors.

 

[00:14:16 – 00:14:24] – Tyrell Taylor

Thanks. And it does help out today, especially with her Airbnb stuff. When she’s like, yeah, we got to do this. I’m like, I can do that.

 

[00:14:15 – 00:14:32] – Briana Mulzac

Yeah, he’s very good with like the construction and all the interior kind of like maintenance stuff like that. He’s, yeah, make a love it.

 

[00:14:33 – 00:14:34] – Nicole Pendergrass (Noirvest Holdings)

How did y’all meet?

 

[00:14:35 – 00:15:16] – Briana Mulzac

We met. Yeah, it’s interesting. We met fourth of July last year. Was it last year? Fourth of July, last year and passing, know, just like it was at like an event and Tyrell came up to me and we were just like kind of a passing. I was, we weren’t really connecting at that moment. But then about like seven months later, we ended up meeting again at my best friends. She was having like a, I’ll close it, like basically a house party or something like that or like just get together and then we reconnected there and um yeah, we it was kind of like a yeah so. Yeah, we took off from that.

 

[00:15:17 – 00:15:32] – Nicole Pendergrass (Noirvest Holdings)

Yeah, but I’m confused having the conversation of entrepreneurship. Like you guys doing Airbnb’s and Turo and all this stuff together. How did that just like oh hey, I got some Airbnb’s want to help me? Like how does that even come about?

 

[00:15:33 – 00:17:00] – Briana Mulzac

I start my Airbnb started, I started them around January. I got my first booking actually the day after I met Tyrell. So I met Tyrell and then the next day I had people checking in and that was my first guess that from my Airbnb’s like my first like everything. And so then I was. kind of after we were talking and kind of getting to know each other a lot more. I was, you know, telling him more about my day to day, what I have going on. I was also like renting the car at time, but everything was very like, I had one of everything, one Airbnb in one car. And so that talk and conversation was resonated with each other because we also like, to spoke about investing, like we were investing in certain things back in 2020 that we connected on that we lost a lot of money on and we were like, oh my god, I lost a lot of money in that too. And so we like after kind of like, you know, just crypto. That was crypto for sure. Yeah. Gained a lot and lost a lot. So it was like a great learning experience, but we really connected on that and just where he, what he tried to do in his family is also in real estate as well. So when at my friend’s party, you know, he was talking to my sister and I was like, yeah, my family’s, you know, building stuff in St. Vincent. was like, oh, my family’s building stuff. So it was just like, we kind of. We’re in the same kind of playing field and we kind of like grew and connected from that.

 

[00:17:01 – 00:18:45] – Nicole Pendergrass (Noirvest Holdings)

Yeah. Okay. Cool. Now, I guess let us just transition. I already mentioned Toro now. So, everyone, that is the venture that I am getting into and partnering with these two to help me grow my own. Toro business, but it is actually, I don’t know, is really there. I am helping them grow their total business through me having some car. And I can give some, some referral to people who want to get into it as well, but do not want to do the day today. So that’s where partnerships become just important to know what the skill set is of each person in the partnership what they’re bringing to the table. Right. great for me. I can get another car. They can get their own cars as well too. They, as they have, and we will talk about that. But then I also. have the full-time job, have the kids, have other businesses, just things that are running this podcast, right? And so, I don’t have the time to do like run the operations of a car and rentals and picking them up and talking to people who want to book and all that, that just gives me, I don’t know, brain freeze. So, I think that’s what it feels like in my head. So after, what was your first, I guess, let’s go into how it even got started. What was your first car and how did you decide, what made you decide to put it on Terrell and I guess go into that experience and I guess Tyrell, did you start with your own car first or did you automatically join in with Brianna on her car?

 

[00:18:46 – 00:20:51] – Briana Mulzac

Oh, yeah. Yeah, so for me, I’ve been trying to get into, I’ll just say Airbnb, but Airbnb. the Antero for a long time. And back in 2021, I was in a Chicago at that time. And I was going to different dealership looking for cars, just trying to figure out how to start with Turro because I heard about it. And I’m like, okay, this is, this is actually like a great business model. But I just never had the capital to get the car. I didn’t have the capital to get the cars at the time. And it was just a lot of fear with purchasing a car and putting it on this new platform. And that kind of like stunted my stunted me moving forward with that process. But eventually I moved back to New York. And I still wanted to get involved with Turro and I had my car for long time from college. And I was like, you know, I’m not going to go buy a car if anything happens. I can just, I can just try it out with my, you know, personal car and see how it goes. That car was my first ever car at 2015 Chevy Sonic was red. And I listed it on Turro in November of 2020. 22 and That was like my introduction to tour. always started to get a lot of bookings And then it was very nerve-wracking at first because I’m like, I don’t know people will take my car Kind of the same thing of like uber when you’re getting the first time you’ve gone to uber’s like a stranger driving me all that stuff so that was kind of like my Introduction to tour and then ever since I’ve just been growing and I I had that car for I had that car on the platform for about I want to say Yeah, nine months and then I recently Traded it in got an updated car and now I’ve been growing and I also ordered another car this week So I’m gonna have another my first an economy car I have half four I have four and then yeah, so I’m I read my goal is just to really scale with this but That was my introduction to thorough just put in my own personal car on it last year and then here we are today.\

 

[00:20:52 – 00:21:06] – Tyrell Taylor

Yeah. When I had first my bridge, she had told me about Toro. It was part of one of those conversations where he really connected. She sent over this whole like Toro Tia.

 

[00:21:07 – 00:21:08] – Nicole Pendergrass (Noirvest Holdings)

Oh, is that the one you sent me?

 

[00:21:09 – 00:22:33] –Briana Mulzac

Yeah. And she went and I was like, wow, like you really, really understand this to a T. And at first, I started off just helping her, you know, she was teaching me about the check-in process. She would have me go put gas in the car sometimes when she had stuff to do with Airbnb. Delivery. Or like when someone needed a delivery or needed the car delivered to them, I would go and I would deliver it to them. I would throw my bike into trunk. This is before I had my car and then I dropped the car off and then I bike all the way back to over here. And then sometime around September, like right before. my birthday in October, I was going through a whole metamorphosis and I did not like my job. I was ready to take a whole bunch of leaps of faith. Literally, I took about five different leaps of faith from the end of September, all the way up until now. But one of them, I bought a car. I went on Caravana. I had, so one of the ways I was helping Brianna before my bought the car, I built like a Toro calculator. And it’s very simple. You put in the price of the car, you put in your desired daily rates. I think we went over it with you.

 

[00:22:34 – 0024:48] – Tyrell Taylor

Yeah. Yeah. One day I was at work board and I was like, well, hypothetically, let us say I just wanted to buy a car and put it on Toro. And I put in the number of reasons. And the numbers just made sense. you know, all the way on the right side, it says, is it a good deal? Says yes or no. And I was like, well, this, this seems like it makes sense. And so, um, my first car was a Dodge Challenger 2021. Um, and like literally the day I was looking into with the next day I purchased the car. And it has been working beautifully for me ever since. Um, I have made my car. No, I have made my insurance every month. So, I will have it for like two, three months, but every month has been working well. Last month was my best month yet. Uh, the first month in compared to the second month, my profits. Triple? Yeah, triple. And, um, I cannot complain. Uh, so for me, my own thorough experience has been like its own journey. I have been more so focused on reviews as you know, I am like new to the platform technically. So far nothing but five-star reviews and I got to give a lot of credit to Brianna for you know kind of setting that pathway for me to explore Turo. But you know Brianna, she has like over 100 trips under her belt and now it is growing faster than ever. But yeah, that’s kind of my personal experience with Turo. Turo does a great job of making sure that it is like stress-free for the driver or for the car owner. Me buying a car, putting it out to her, even if it is my first car, let us get it rented out now as we speak. It is a complete carefree journey for me simply because Turo, you know, they make sure that they are well taken care of basically.

 

[00:24:49 – 00:26:02] – Nicole Pendergrass (Noirvest Holdings)

All right. All right so okay I am gonna go into a couple of different directions but. But because I want anyone listening to, I guess, understand the thought process, or maybe get over fears associated with getting that car, even though you said it is a stress-free, at least platform using Turo. So, I know one of the first things people will be concerned about is what kind of car should I get? you know, putting a lot of money or getting a car note on something that potentially may not rank as much as you think it might, you know, and maybe you do not make your car note. And you cannot afford to come out of the out-of-pocket for that car note on particular month. So, I know there is like, it is like thousands and thousands of potential cars to choose from when you’re looking for a car to put on Turo. But how do you ultimately decide a make and model, a year, all those kinds of factors? So, what will potentially be a good profit margin on Turo? Like how did you find you said Dodge Challenger was your first one? And what was that again?

 

[00:26:03 – 00:26:04] – Briana Mulzac

That was a Chevy Sonic.

 

[00:26:04 – 00:26:18] – Nicole Pendergrass (Noirvest Holdings)

Okay. So, Brie, I understand you just use what you had already, which is, is fine. You could still run numbers on that. But with you, Tyrell, getting a new car when you were nervous or scared about that and taking a leap of faith, what made you decide that make a model?

 

[00:26:19 – 00:30:46] –Briana Mulzac

Well, for me, the first thing I looked at was how, like, how well the car was doing on the platform. When I searched it up specifically in New York, muscle cars are more so like out of urban area cars where you could take it on the highway and really like, you know, push it. But I did not see much challengers in New York, but I did see that they were going for about 70 to 105 a day. So, I said, okay. And then when I was looking at the actual price and how much the car no would be, it came around to like $600. So, like I told you, I went into the calculator, I typed it in and I was like, okay, depending on how many years of the loan, I choose to take whether it is 24, 48, how long can a 2021 car sustain on a platform? For me, I figured it was about five to seven years. Cause you know, even now that it is 2023, if we run out of 2018 car, we still think it is pretty new to some of you. Even though it is like five years old, you know? So, I said, okay, 2021, I cannot have this on the platform till about like 2027. And in that years’ time, I know that if it is rented out at X price and it gets rented out. On average, I think the average is like 20 days a month. If you guys, I think I have sprinted out on an average of 20 something days per month or 20 days per month, we go, we’ll say 15 just to be safe. We will do more conservative number. guess if it gets rented out at least 15 days a month at X price, I know that I could at least make this car no insurance payment every month. And even if not, if you are putting $100 a month towards a car, that is way better than you struggling to put like $800, a month. So, I at the very least, if I had to come out a couple hundred dollars every few months or so, I am totally fine with that, rather than just getting a car, using it for personal usage and having a set amount that I need to pay every month. So, from me, it was more like, I did not let the fares of the What ifs like, deter my decision? I stuck to the facts of my calculator and I was like, okay, even if half of the months, you have a better month than you expected at the bare minimum, you are still going to have some leftover cash where you just put all this cash in a bank account. If you have a month where you do not hit your goal, you still have some spare cash that you could put towards that month. So, that was my mindset and it was like, I am not buying this car in a position where I am like, okay, I am solely relying on this income that is coming in. I knew like, okay, this car has payments, however much money this car makes, this car is basically going to pay for itself. If it does more than what is expected, then you will have some extra money for a low month. And over time, based off of the calculations, I know that it would at least even. and self-out break even over time. So that was my, that was my mentality going in, especially having a car to know, having insurance, and it has been working really well. Like I said, last month, I made enough money to pay off the car for two months. So, all that money goes towards the next month, and now what you would see is over time, your cushion room for money, especially if you keep all that money secure in one account, you will see like you can have that car comfortably. And not only that, if the car’s on the road, something happens to it. Tural more than compensates you for your inconvenience every single time. So, if something does happen, you could fix the car and still have some convenience money going into that account for a car note or whatever you need that money for. So yeah.

 

[00:30:47 – 00:30:48] – Nicole Pendergrass (Noirvest Holdings)

Nice.

 

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[00:31:20 – 00:32:11] – Nicole Pendergrass (Noirvest Holdings)

So, I get the, at least the security that the car notes and insurance and some of those expenses basically be covered even doing calculations conservatively. But you know, we are not in business just to be breaking even. We in business to make some money up in here, right? All right. So, from what you have seen in a few months and Brianna, from what you have seen over time, on average, what have you seen per profit per car per month? Like just, I know that is a random because you have a couple of different kinds of cars. So that would make a big difference. But what kind of profit are we looking at? Is it worth going through dealing with people’s requests and doing drop offs and you know, all the operations of it? What is the profit looking like per car?

 

[00:32:12 – 00:33:59] – Briana Mulzac

I would say for the mid-tier cars, you’re looking at a minimum profit of a thousand a month and going through with the deliveries that I guess the men management company or our end that that’s worth it because you’re getting like an extra hundred something dollars. So ultimately, I would say each car typically is like a thousand dollars in profit a month with my Chevy, you know, we can you can Expect between seven hundred and a thousand depending on the month depending on the season Um, so really varies on the type on the type of car also just to get back to when you are saying Um, what types of cars to choose you really want to do market research on your area. So being in New York Um, you know, people may need a get-around car. Um, so something that is you know great on gas great with for parking Nothing like too big but something that is like compact enough for families. Um, I noticed that certain cars also Bring a different clientele. Um, I currently have three outies And I get people from the city. I am who won drop off so people from the city coming to pick up the car. Um, and I see but that is a specific demographic. then when you have your Chevy’s, and then I also just got a Ford Fiesta. So, with my Chevy, I did see more of your everyday people who want the car for two weeks or even a month. I have not had month booking with my Chevy, but just working and talking with other Terahals as well. Those are the kinds of cars that people want for their everyday get around market research is really important, especially with whatever kind of fleet you’re trying to build. So, but yeah,

 

[00:34:00 – 00:34:09] – Nicole Pendergrass (Noirvest Holdings)

So, what kind of, how do you do someone who is new to this? How would they do like at least some quick, high level market research? Like what would be the steps you are going to go through?

 

[00:34:10 – 00:35:06] – Briana Mulzac

Yeah, some high-level market research would be to go on to Terah as well. They have like a whole list of cars that they update that have, they show their ROI, the return on investment, and the types of cars from economy mid-tier to luxury. If you are going on tour, you can whatever car that you are interested in, you can go on to a tour and search up that car that makes a model and the year that you are looking for and see how is it doing on the platform, seeing how many trips do these people have, see what the reviews are looking like, how recent were the reviews. See, okay, this review was just from two days ago, okay, this car must be getting booked out, and kind of just being able to dissect it through that. So just some online research on your market, your area, on tour the platform, and looking at teralux, actual documents of them giving a list of the vehicles that they suggest for the platform.

 

 

[00:35:07 – 00:35:50] – Nicole Pendergrass (Noirvest Holdings)

Okay, okay, cool. that will give someone like a framework on how to at least do some research on looking for what kind of cars in their market are being booked out, what the daily rate kind of is, and then you can start looking for purchasing a car. How was your experience purchasing cars through Carvana, like an online platform? I know some people would prefer to go into a dealership because you can physically see the car before you get it. Have you had any issues with the cars like maintenance wise that are outside of the norm purchasing cars from Carvana? How was that like experience getting them?

 

[00:35:51 – 00:36:47] – Briana Mulzac

I will let you. Well, we both purchased cars from Carvana. And me personally, I feel like our experience has been great. The cars came in better condition and looked even better than what we saw online. And Carvana offered like a lot of great vehicles with low mileage. His had like 6,000 miles and my car came with 7,900 miles. And I think the hassle-free process of purchasing senior car through Carvana made it a lot easier for us. And I recently just purchased another car through. room. If I see the difference between Carvana and Vroom, Vroom I had to go to a notary insult like that. So, it was good to go through that experience because I learned that so far Carvana has been my favorite platform to purchase cars from that anything else, even before dealerships. We went to dealerships as well. You can put anything.

 

[00:36:48 – 00:39:03] – Tyrell Taylor

Another thing with Carvana is they offer a Carvana protection program or protection care package, something like that. And so, we paid for the premium one. So, any mechanical electrical issues that come about in the car, especially for the first 90,000 miles, through their partnerships with certain mechanics, we could just send the car over to them and they would fix everything. We would have a deductible of a hundred dollars. So, let us say a check engine light comes on and something is wrong with the engine if it is still in the first 90 a thousand miles. We could just bring it over there. They will give us a completely brand-new engine and we just pay a hundred dollars for it. So, it is nice to have that carefree mind or peace of mind when driving the car, especially in the initial stages. Also, when you do get the car, you have a week’s time to drive it, I think at least 400 miles to really get a sense of if you really like the car and they say no matter how small the problem is, you could be you do not like the paint, you could say you do not like the interior or whatever, you could give the car back to them completely free. So that was another thing for us and we just love the fact that they delivered it right to our door stuff. It was a completely oh and also when purchasing through Carvana, once you build them proof of insurance, they registered a car for you. The car comes with the license place. So literally as soon as you get the car, you could take it and drive it anywhere you want. So, I think we live in a world where the easier the process, the more we are willing to pay for it. Convenience. We pay for convenience. And I think for us, being able to have the car ready to drive on demand, literally if we get the car in the morning, we could take photos in the afternoon, get it on to a row within the evening. And I know for Brianna, she’s had cars booked within the hour of putting it on the tour.

 

[00:39:04 – 00:39:06] – Briana Mulzac

Yeah. Yeah, your car is going to get too, Nicole. I remember you said.

 

 

[00:39:07 – 00:41:34] – Nicole Pendergrass (Noirvest Holdings)

It is. Oh, I am excited. Well, OK, let me just, we’re going to get to my car. What is doing? Because definitely, want to hear this update since the first screenshot you sent me. But that sounds like a dream. Let me say, because you know, you both know my experience getting my car was anything but easy. It was so many and hurdles and oh my god that was most stressful. You know what I told my husband today? I told him that getting this car was more stressful than buying two of my multi-family buildings out in PA that I did before. Those were so easy and I think that kind of spoiled me on how easy buying properties can be because all of my experiences you know my three unit actually my one is in the city that was a little bit more it was like a lengthier process that there that has some twists and turns in it but so things stress-wise I get went through so much more stress trying to buy this car than anything that I’ve been through and I don’t know how long oh my god I must have so many more gray hairs it was such a hassle so I will say I did throw a couple little extra hoops into the process because I was purchasing the car in my LLC which was a new LLC because I didn’t want it to be associated with the LLC that owns the real estate because, you know, for liability, one of those separate. So having a new LLC and trying to get funding for that and going through a purchase process, that was why I did not do Carvana because they wanted you to purchase it personally. I thought it would be easier to buy it outright in the LLC than it would be to buy it in my personal name and then change title and do all this stuff. But now I think it might be easier to just buy my personal name and then just go through the paperwork to change title and refi or whatever I need to do to get the note in the LLC. I do not know. I will figure out what is the next because I want to get another car soon before the holiday season is over, which is ticking. But I was stressed so much about trying to get this first car before the holiday season. And I did not want to miss Thanksgiving and I miss Thanksgiving. And you are like, you know, just when you drop the car, put it in the keys in the lockbox, all our cars are booked out for the week. And I am like, yeah, that is it. Oh, my goodness.

 

[00:41:35 – 00:41:36] – Tyrell Taylor

You know, it’s really cool.

 

[00:41:37 – 00:41:53] – Nicole Pendergrass (Noirvest Holdings)

Yeah, if you have not bought a car at a dealership, unless you are a professional negotiator, unless you like have time to sit there for hours of your day, you know, and like playing games, I am not I am done. I am done with dealerships. So there.

 

[00:41:54 – 00:41:57] – Briana Mulzac

Now you can get to that, Carvona next. Maybe.

 

[00:41:58 – 00:42:51] – Nicole Pendergrass (Noirvest Holdings)

I am about to start go looking at them to finish like this week. I am looking. Um, yes. All right. Because I let us just continue because I will go on an entire rant about car dealerships in my experience over the last few weeks. So, we don’t got that much time here. But anyway, um, what was the next thing I was going to say? Okay. Okay. I know, oh, you were saying my car is doing well. Oh, yeah. So, let’s tell everybody what my car doing. So, I know we got the car finally. The weekend it was the weekend after Thanksgiving, right? the week after that. It was that it was that it was that yeah, it was Thanksgiving was Thursday and then that Saturday is when I got the car dropped it at Brianna’s and then she did a couple things like a couple days later, the car was listed on Turo. And then the next day there was one month.

 

[00:42:52 – 00:44:17] – Briana Mulzac

The next the next day after I uploaded the car to the platform, we got a one month booking. But for the summertime, but actually the summertime. Yeah, that was smart because I did not do the dynamic pricing yet because the summer months would be a lot more expensive. And like so they they snagged that deal, which is totally fine. But the summer months we up that price. But it is all booked for July through August and so far for this and I guess the profit on that. I do not know if to talk numbers, but it is looking like I want to say it is 1650. You will get for that. And then this month is doing really well. It is booked from like the 21st to the 31st. And then we have some other like three-day bookings throughout the month as far as I recall. And I would say like maybe a thousand dollars so far for this month and we have not even booked out the full month. So, we have more days. So that is how it is gross. And then we have like, you know, two weeks that still are open and it is still the first week of December. So, we have a lot of time to get things booked. Yeah. So that’s all three of the Audis are booked for the 10 days, from the 21st to the 31st. three of the Audis I have are all booked. So, I am learning that’s a hot week. So next year I know that is going to be a hot week to have some good pricing on that week.

 

[00:44:18 – 00:47:33] – Nicole Pendergrass (Noirvest Holdings)

So, I see that proper. Yes. I gotta get another car like by next week. We can get the is rolled even more. But so that is definitely good to hear. And guys, so this is just part of my strategy, right? I have been talking about other ways to increase income and cash flow outside of just real estate holdings. And that’s what this shows about is just all kinds of entrepreneurial endeavors that you can do to build up your cash flow and then take that and invest it in whatever other assets you want to invest it, like whether it’s reinvesting in your business, whether it’s investing in real estate that can give you like long-term appreciation growth, whether it’s putting it in maybe some mutual funds or stocks or however you want to, I’m not a fan of the stock market as that big. It is like a cherry on top for your other investments. But I think using these kinds of entrepreneurial businesses to build up capital and either let you be free from your job, because I want to follow you guys for footsteps want to get out. in the W2. And once I can replace my income, now I can have more time to work on my businesses and really get things automated and set up and look for the bigger and better and the next things and like how I can really make more impact in the world, you know, with an and invest and make impact for my family too. So this is just one of the calls in the wheel of the plan to create that additional income. And so, I am looking to get $1,000 per month net to me outside of what I’m paying Brianna and Tyrell for helping with the operations and for managing all of that because that’s something I just don’t want to do. And I do not mind paying them their fee to handle it, right? It is a lot of work. And you know what I mean? And they do a great job at it and they stay on top of everything. And so, you have to decide what side of the coin you want to be on, whether you want to be on the operation side. Maybe you have less capital to start up with. you can start start operating other people’s cars, where you do not have to come out of pocket to have the money to get the car, but you can start making money with somebody else’s asset, right? And if you are somebody who has capital, but does not have the time to manage the cars, then you need to be on this side of the coin. So, there is always way to build and grow, and there should not be an excuse as to why you cannot do something. And I think that goes back to the, all the fear and the things that you guys were saying that people are scared of losing money or scared of taking that leap of faith in that first step. And I equate it to being like in a fog, you cannot see 10 feet down the road in a thick fog, right? But you can see enough to take a step, right? know, you are not going to fall off a cliff if you take one step because you can see that. So just keep taking that one step and one step and every step, the fall clears for that next step, right? And so that’s where your journey comes from, being able to… Plan out like yeah, you should have a plan, but if you’re gonna be frozen until your plan is completely in place, you’ll never make a move.

 

[00:47:34 – 00:47:35] – Tyrell Taylor

Right, absolutely.

 

[00:47:36 – 00:47:40] – Nicole Pendergrass (Noirvest Holdings)

Sorry for my long diatribe. Going on and on.

 

[00:47:41 – 00:48:17] – Tyrell Taylor

Speaking like stuff like this this all the time. We work with people who try to save pennies or what was it? They try to save They lose dollars trying to save pennies. Yeah, and We noticed that them not seeing the long term of things just Completely screwed them in the long term. Yeah. But that’s a whole like yeah, same way you said you could sit here and talk about car dealerships all day we could say or talk about uh those instances as well, but um, yeah.

[00:47:18 – 00:48:36] – Nicole Pendergrass (Noirvest Holdings)

So, give an example of an instance where somebody well you saw in real time or an experience where somebody was I guess hesitant or or trying to pinch pennies and save dollars and end up costing them potential profits or to give an example of some of some conversation maybe you’ve had or something you saw.

 

[00:48:38 – 00:48:50] – Nicole Pendergrass (Noirvest Holdings)

Okay, guys, don’t kill me, but I’m gonna have to cut this episode short. This is too juicy and we need to do this in a part two. So, stay tuned for the next episode that airs and you can hear the rest of our conversation.

 

[00:48:51 – 00:49:15]

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