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I love Porsches.
Let's say, how many?
I have five.
Kent Liu owns 11 vehicles, from Porsches to Jaguars and Alfa Romeo.
He rents out his fleet on a car-sharing app Turo,
frequently referred to as the "Airbnb for cars".
I started in 2013. I started with the Honda Accord and I purchased that car specifically to rent out,
to test out the peer-to-peer car-sharing model.
You know, it was really successful so I figured, why not scale it?
I've been adding cars to my fleet ever since.
According to Turo, the average monthly earnings for owners on the platform is $720.
And if they have more than three cars, they can make over $3,000 per month.
The vehicles don't have to be high-end sports cars.
Demand just really went off the charts. The 50 Euro Honda was being rented all the time. People loved it.
Ann Connolly joined 4 years ago with her 2002 Honda CRV,
and has since purchased two additional vehicles to rent out.
It wasn't really ever a full-on intention to run the business, the car-rental business, but it just sort of, happened.
Since Turo is a peer-to-peer service, they act as the middle man,
so they don't own the cars, pay for parking, or servicing.
They take care of all the marketing, the back-end support. Insurance is also the key thing that they take care of.
Car-sharing will not be a true game changer according to the Boston Consulting Group.
Still, they project 35 million people worldwide will use the type of service by 2021.
Heads off from just 6 million users in 2015.
And it's become far more popular in Europe and Asia than in North America.
The way I see it is, if the car is rented out more than 50% of the month, then it's time to get another car.
It's all about meeting that demand for these high-end vehicles.
Definitely see why I want to try it out.