How You Can MAKE Money Renting Out Your Boat
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- เผยแพร่เมื่อ 15 ต.ค. 2024
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I believe this depends of the city. In Miami is definitely amazing to have a boat. You will get a lot of money out of it!
What can i eat your a?
Excellent video Shelby! We are in double digures with the number of boats we have bought and sold, and have sold every single one one at a profit - INCLUDING all refit & maintenance costs.
When flipping anything, you make your money when you BUY, not when you sell, so you have to be able to identify and secure the very best deals out there to succeed.
We learned how to do this when we were boat dealers, and that happened because I had a 'Rich Dad, Poor Dad' revelation when I compared boat rental rates to houses.
I got 2 x $50k unsecured personal loans(!) and in my mid 20's, became the sole importer and distributor for a US boat manufacturer in Italy.
I didn't yet speak Italian.
Had never seen the boats in question (just online).
Had never set foot on a sailboat in my life.
Had no business experience, or family with business experience.
By God's grace, everything fell into place and this summer my wife, 6 year old "Britalian" daughter and I are taking our sailboat through the inland waterways from Belgium down to the Mediterranean. 🙏
If anyone is still reading this, buy and devour Rich Dad Poor Dad and reach out if you ever need help buying a boat.
Chris 👍
Ms. Shelby Church is not only very well spoke, she is well versed in her desires for boating. Oh, that, and she is gorgeous. Thank you and please continue sharing this connection with me. Best, Steve
I wasnt financial free until my 40’s and I’m still in my 40’s, bought my second boat already which is on rental, earn on a monthly through passive income and got 4 out of 5 goals, just hope it encourages someone that it doesn’t matter if you don’t have any of them right now, you can start TODAY regardless your age INVEST and change your future! Investing is a grand choice I made. Great video! Thanks for sharing!
Very inspiring! I love this..
Glad I came across this comment section. I was struggling to decide what to do with a good amount of money in the bank doing nothing. I would be happy if you could advise me, as I am ready to go the passive income path.
@@eadad4371 Alright so generally, investing requires higher knowledge. For this reason, It's important to have a solid support structure (financial consultant) to guide you through especially in asset picking. I operate with (REGINA LOUISE COLLARO) an investment advisor who partners with a licensed wealth management firm. For the record, the experience has been the best for my finance. She is quite popular for her services so you might have heard of her.
She made me financially stable investing through her help, now I earn on a monthly basis through her passive income strategy...So I’ll advise you do get a good Investment advisor for yourself.
@@skoopqueen. That’s great , your investment advisor must be really good,I have seen testimonies of people using the help of investment advisors in making them more financial stable. Do you mind sharing more info on this person?
@@eadad4371 look her up on the internet and leave her a message she's quite popular for her services as she was recently featured on cnn. She can work with anyone irrespective of where their located
@@skoopqueen. I have had the intentions of starting investing. But I always thought it was late and I think I need to stop procrastinating. I will definitely 🔍 Regina Louise Collaro and see what she can advise .Thanks a lot . This was of so much help to me
It’s a great idea and also great idea to live on a boat. Just remember, maintenance is very important! I know a lot of people living on boats and that is one area people forget about. Great job on this video!
This was really cool to watch, my husband used to be a yacht broker and had a small sail boat so we were around them a lot! But it’s been a couple years.
Nice one! Seattle is so beautiful in the spring summer, and fall. The rest of the time we should all live in Palm Springs! I wonder what features would help make one's boat stand out above all the others to help mitigate the saturation factor? But have you done a video or perhaps thought of doing one on Air Bnbing ones 30', 40', 5o' footer? I've seen a few people doing that kind of thing on Craigslist. No cruising, just a cool place to stay? Maybe you have, maybe not your focus though. I'll look.
Good video ! I’ve owned 7 boats. 1st Rule - Don’t EVER buy a Wooden Boat ! Lol 😂.
Tip for You if u buy a Boat to Keep it Nice & lower Maint. Cost to almost nothing.
Keep it on a Hydrohoist !!! It Keeps the Boat out of the Water & Reduces Maint Cost by 90%.
1) No Bottom painting required.
2) No bottom cleaning
3) No corrosion of Drive gear - prop etc.
4) No zinc replacements.
5) Reduces corrosion by 90%
Worth its weight in Gold !!!
I think you have to take into consideration that most owners also do private charters that are brought by brokers which they can make more private then on boatsetter so don’t let numbers make you think they don’t get bookings. Also like you said, no much demand in your area, where I live in Miami everyyy boat is always out year around
I don't live in the US, so do not have access to this service, neither do I care about boats much but really appreciate the effort tou put on creating valuable and original content 👏 👏 👏
Having a boat is a lot of work! I work on and off in the charter business and people don’t realize how much upkeep they need. Every time we go out, we have to wash the boat and the gear due to the salt water
I'm surprised you didn't mention the cost of gas to run the boat. Do the people renting the boat pay for it? Just curious, because that is a major expense that I feel should be factored in. I also have to say that if you live in a warmer climate where you can rent out the boat all year long, you will make much more money.
At 4:29 you can see on the screenshot that fuel is charged separately.
The people renting it pay for gas! and you honestly don’t use very much cruising through the lake, only if you are REALLY speeding around
FYI people boat year-round in Seattle
I really enjoyed this video. I can "see" the work you put into the production. Though I am not really a water person, even I am thinking about buying a boat. Thanks Shelby.
I am a yacht broker in florida and yes boats are not a good investment - depreciating liability is about right haha but most people who buy boats know that and have the money to sustain it. Renting it out is a great way to break even or even make some extra money if you are wanting a boat but don’t want to have a sunk cost!
The risk of people damaging your boat will be astronomically higher than your car. People are going to be significantly better at driving someone else's car than their boat. I guess it would depend on the body of water as well. Being there for docking will somewhat lessen the risk.
@Jesse right
Sounds like your replies have never owned or operated a vessel! Let them learn...while we listen to their “Rock ‘n Roll”
🔥
Liability of not training people (if someone goes overboard/gets hurt) … priceless
“Boat” stands for Break Out Another Thousand
I feel like this is so much work for the average person - as she said you have to do every check-in in person, with signing liability forms and explaining where/how to use certain aspects of the boat. To do that 50 times per summer - even 20 times per summer - is asking a lot. A lot of people with standard 9-5 jobs just wouldn't have the ability to be leaving work, and for someone like you who has more of a flexible schedule, it could eat into profit from other endeavors (less time to make videos, work on Joshua tree house, etc.)
Great video - and I love how much you go into the economics of it. For me though, besides someone accidentally damaging the boat, which is a risk that exists with house rentals, etc. I think I'd be too worried about someone outright stealing the boat since you're literally giving them the keys.
They probably have a tile or some kind of tracker on the boat
Since most of the homes here in the Cayman Islands have sea front views, we don't really pay for storage and instead park our boats on the docks in our backyard.
✉️🤞....
Boats boats boats - HIMYM!
hope you don't hate me for saying but you looked super cute in that red dress and captains hat. I like videos like this. It's kind of your niche. Keep doing this stuff.
Are you a journalist?
I ❤ your content, the way you made it and the way you deliver it, I felt like I watched CNBC documentary.
Thank you for creating this!
Sending ❤ all the way from Philippines...🙂
Where you got the chair from you're using while making the video? Link please?
Shelby I wanted to congratulate you because you improved in your videos. I followed you for a couple of years. I like your channel because i practice my hearing skills with your videos. I am from Mexico and English is my second language. Have a nice day Shelby,.
So get a boat at Myrtle Beach or Miami and Airbnb make 50K in a month got it
I LOVE BOATS OMG
me too!!
Shelby you are doing excellent ♥♥
Where is you puffer from? Loved this video and gave their insta a follow!
What I hear is that if you cannot do this, but you are a responsible and willing to learn boating, you can be a great boat manager. I'm from Ft Lauderdale and I think this business can be great if the pay is good per rental for a manager. The more boats you help make profitable as a manager the better.
did not know this was a thing!
Great video, Shelby!
What ever floats your boat
Seems like the newer the boat, the more rentals as well. Like she said, the boat was not getting as much rentals the second year. That is where it starts to get iffy, as the boat ages, more maintenance will be needs, but each year the booking go down as people want the newest.
Boats are the number 1 mode of transportation if you like fun 🚤
Cool video, Lindsay should have taken the sunglasses off.
What’s the name of the website of these listings
Lake Union has lots of other boaters, paddle boarders, and planes taking off and landing. I can't imagine it'll be very long until Turo for boats goes very wrong in a place like that.
Those are my exact thoughts
It's an interesting idea, I would not be comfortable renting our boat to complete strangers. However if we were to buy a boat with renting it out in mind we would pick something fairly basic not very large under 20ft. In the puget sound the waterways can be difficult to a novice or beginner boater. I would enjoy renting a boat from time to time. It's interesting for sure.
tgeré 14.88 foot too ²0 fut çabiñ cryser undér 20 fiter
Fuel?
I always love your content and i find your videos so informative and interesting but please balance the audio throughout the video. you & your interviewees are always mic'd up and i really appreciate the effort (because a lot of youtubers just use mics off their cameras) but it can be hard to watch when i have to constantly adjust the audio on my tv.
Excellent work on this video!! Always interesting to see the content you come up with!
*Send me a direct message right away🎁..✍🏻✍🏻✍🏻...
The current property I have is actually a rental going to be doing more research and looking at getting a second property that I can rent to own for about 6 months and pull some equity from it to get into a couple more properties
Totally love your vlogs and most of your main channel content! I do wish you’d start looking at some things outside of an ROI model though. We often times buy things to simply enjoy. ROI isn’t important at all for boats and things like sports cars or luxury cars. These are inherently emotional purchases. And that is totally okay! Not everything has to be an investment.
For sure! But I think it’s cool if it’s can pay for itself. It’s what I’m interested in so I make the content about that
@@ShelbyChurch love your vlogs Shelby … this main investment channel isn’t my cuppa but always look forward to the vlogs 🥰🥰🥰
You have such amazing establishing shots. Do you storyboard your shots?
Really interesting. Thanks for the video.
You are the kind of content creator that k don’t skip one minute of her video .
Thank you for creating such amazing content .
I like your videos more than watching television.
The mediterranean has a lot of yacht charter, it's fairly expensive say starting at 3000 per day but it's a proper modern yacht with crew, say 60 foot long. I looked at yacht charter in LA a couple of years ago and I was appalled at how poor the standard of boats were. Maybe I didn't look all the places but instead of a proper yacht it was a 1995 boat that looked like nick nolte died on it yet still 2 grand for a day and only daytime, not 24 hours. Zero luxury experience in it. Maybe LA isn't well suited for yachting but I'd have to think there would be some demand for say 3 day luxury trip to catalina. Maybe up by malibu, then live around catalina and end by san diego marina and return. But it was tragic state of affairs in LA.
And interestingly popular mainstream yacht models don't depreciate in value. Almost at all. Just new models rise rapidly in a kind of inflation so the aging boat holds new price. Entry proper yacht might be 1 million dollars. 2 crew maybe 230k a year. So the crew is by far the biggest expense. And all charter in europe insists on crew which I found annoying. There is a loss of privacy with 2 strangers 24/7 on a small boat with you and it 5x'es the price. So there might be a lucrative business in charter without crew for people who have taken a boating course.
A million dollar yacht is similar price to a house yet they are chartered at say 3000 per day.
Starlink recently launched for boat use I believe so there is internet everywhere.
You should move to Florida and help me run an Airbnb boat and rental business
Thank you Shelby for looking out for your subscribers and trying to help them out
38k sounds like an euphemism when you then add the "plus tax" in the end. Why not show the actual price paid?
This sounds like a hit or miss investment. I'm guessing it depends on the season on ho well you do.
*Send me a direct message right away🎁..✍🏻✍🏻✍🏻...
I love these Seattle/Washington videos! This interview was really interesting 💓💓makes me want to go out on a boat soon 😂
Can't help wondering about the running woman in the background at 6:34 and what she does at 6:41.
You quit Air BnB! Never mind my previous inquiry about that!:->
Love this channel!! Thank you. 💯✨😍
not a good plan it seems but might be a good option for someone who already owns a nice boat to offset the costs.
Hey does anyone know any good boat managers?!?
I got a boat ⚓
I’ve considered this and what’s interesting is BoatSetter” is owned by GEICO who also has a boat insurance division. So seems
insurance concern should be better than other boat sharing sites.
Anybody have experience with a claim from boatsetter?
Love the Seattle content 💗💗💗
What an interesting concept. Thanks for making a video about it. It’s so tempting! Now I’m looking at boats for sale too
Great video
I pretty sure that's considered commercial use if so that would greatly reduce the manufacturers warranty
Do you still want a boat I am selling mine. In 15000 dls it is a 29 foot Carver Yatch
Always educated us thank you Shelby!
Considering the competency of the average driver, throw water and ineptitude plus the possible idiot factor into the equation and I’m not quite sure letting people out on a boat unsupervised is going to last too long before 😬
Thats the reason why such business does not really work in Europe. You always need a license when the boat has more than a 8 HP engine. Or a sail.
and alcohol.... and pot is legal in WA
@@alexwyler4570 Its also legal in Netherlands, but not driving a boat without license.
@@wolfgangpreier9160 In The Netherlands one can rent a boat without having a license, if it's shorter than 15m and can't go faster than 20km/h, and there are restrictions where you can go, e.g. no big rivers.
@@Jeroen74 Thats ok, in Austria you can rent a Jolle without license and even then you must first get a insurance. If the renting company just gives you a boat without checking that you are even capable of steering it correctly and you collide with a ferry - who pays? The license is not only the paper its printed on, its also a form of insurance.
There's no way I'd get involved in this. I lived at a marina with pontoon rentals and witnessed how it goes with feedback from the marina owner. A majority of the renters you'll attract are 100% idiots who have literally never used a boat and wreck the prop, destroy the dock, beach them constantly...etc etc. This isn't touching on when alcohol gets involved which ramps everything thing up more. People will try to cram 20 people on a 8 person boat...then you find out that most of them can't swim. Too many risks, too much liability, and not nearly enough reliable profit.
A mix of power and sail?
power cmsailer nagmcgrogir ¹9 ñeçgrigerv26 powrr ßàikor
Flipping boats is in right now too.
Those lower rented boats could also not be an income stream for them. They might actually use their boat more for their own recreation.
Such an interesting concept, thanks for doing the research and sharing it Shelby!
Interesting..🔥🔥🔥🔥
From 5:08 to 5:30, your voice sounds a bit distorted. I think it might be your audio level is over peaked on your microphone or in post. Sounds like your shouting a bit.
Thank you for sharing this video my friend 😍🤩😍
Hey Shelby can you talk about online tech courses.
Okay? Are they worth it
Cold test 11
They might be making some profits now but wait till they need to get the motor replaced. gas motors only go for 1000 hrs before major overhaul. not to mention oil change every 100 hrs. If you can't do it yourself, labor rate is up to $150/hr in the marine industry. A new Yamaha 90 outboard is $11k plus installation. I don't think people can make money renting boats out. it would be ok as a side income to offset some of your own boating expenses.
I have a 17 foot fishing boat. aluminum with 3 seats and a steering wheel. a 50cc engine. you can put up to a 200hp motor on back. a fishing boat with the trailer. I bout it used a year ago for only $2500.
50bourñ tríng mire éktec oytbsr nrfusuin 180 hp ejrrç
Great video.
Shelby gonna do a video soon on some random app-based service that allows you to rent out your $400 sleep tracker on the weekends 😆
Very super
Such a high quality viewing experience. Ty Shelby.
Rental market needs to go bust, sorry to say it but someone had to. People need to stop renting because it's the same as setting it on fire.
Gonna make my own lake, fck it
When is Part 2 coming out? :)
Love all of your videos!! ❤️ ❤️ You can tell you put so much care and effort into them, so thank you!
Ouuu Shelby with the dresses🌟🏆
You look cute
Dang that’s like Airbnb for boats
I don't think she's going to actually do I'm in real estate specifically room rental it's okay bring in about 6k a month and that's just with one house of course since I pay all the bills that brings me down to about $3,500 profit every month
Interesting... great content. Thanks Shelby!
Waivers to be signed over the Internet
not a bad idea!
goid idrar
BANK ON ANOTHER $1000
yes
Loved this!
If I run it out a boat i would choose my own driver because ian letting some rando DRIVE MY BOAT 😂
Serious about doing this in Florida. I live on a large chain of lakes and could solve the storage by docking on my property.
Wait for it. Shelby will buy a dozen boats and start a huge boating business.
yes
Great video! This was super interesting. I’ve never heard of boat setter!! Seems like a cool site! Definitely going to check it out!
I love how you feature women in your videos.
Love seeing how others take their life and turn it into income. We have a very unique side hustle that pays for the entire year of food and up keep for all our our animals/pets on our hobby farm. We make zero money from our animals. 😊
biatvrebtal ptifit 26000 orr year
As a yacht owner who , rents out a boat , this video was not accurate. 90% of the boats listed on boat setter will not make money.
I got the numbers from her so yes it is accurate. I mentioned in the video that many boats don’t have many bookings.
@@ShelbyChurch you did, what you didn’t consider in the video is most Marina’s do not allow you to rent your boat out. I slip several yachts in the Marina Del Rey area and I do not know of one that would allow this, Their agreement is with you not your renter, I know of at least one owner who had to un dock permanently from being my slip neighbor for doing this without first asking permission. Also your insurance will only cover yourself typically or a licensed Captain, I have 2 different insurance companies only one has a provision to have the boat rented for a huge premium cost and it to is quite restrictive. Most people renting don’t have a boating license which at least in Ca you must have if your boat has a motor on it and is longer than 6 feet and you are under 46 years old so each renter is in theory breaking the law. The fines for driving a boat without a license can be dramatically increased depending on where the boat drives and all the other infractions that would be likely to occur with an unlicensed boater. You also didn’t mention the need to maintain an auxiliary service such as usboats etc that can handle towing your boat in the instance you need a tow, the average tow cost inside a Marina is about 1k but ocean based tows can be astronomical in price without this coverage this to depends on who is currently captaining the vessel and if they are the registered owner. Also the age of your vessel matters as to whether it will even be allowed to slip at your particular marina. I enjoy your content and am eager to see how your Joshua tree build goes as I currently am developing in a similar area. Good luck.