RV Renter Revs Up Recurring Revenue

Notes from Chris

Episode 1562

Growing up, Darlene Miller loved camping—especially since she didn’t have to do much for it. After her family arrived at a campsite, she’d hop on her bike and go exploring. When she got back, everything was already set up. Once Darlene grew up and had her own children, she took them camping so they could enjoy the same experience. That’s when she found out camping is a lot of work!

The idea of buying an RV of her own was attractive, but she was worried about the expense. It just seemed like the kind of luxury she couldn’t afford. But, as she learned more about side hustles, she realized that she could rent out the RV to earn extra money when she wasn’t using it—which was most of the time.

To get started, Darlene did her research. She called other RV renters to see what models were most popular. Then she read through countless ads from all over the country to figure out a fair price. To further ease her concerns, she watched the price for around six months to make sure she understood the market. Eventually, in June 2020, she found a great deal on a second-hand RV at half the price it was going for as a brand new one a year earlier. The wheels were in motion.

Darlene used her RV over the July 4th holiday. Then she placed an ad to rent it out on RV Share, where she targeted people like her who wanted camping to be easy. Before she went to bed that night, it was already rented! That was amazing, except the renters wanted to pick it up in two days. Darlene panicked because she wasn’t ready. She still needed to buy new bedding, stock it with dishes, and much more.

Speaking of money, the wheels are turning on this side hustle! She paid a 10% deposit on the RV and took out a loan for the rest. She now pays $550 a month towards the loan and insurance, and grossed almost $20,000 from rentals in the first six months. That’s not pure profit, because RV Share takes a 25% fee on each booking and she had a few repairs along the way.

Still, she’s making good money, and she’s doing it herself. Darlene has never before had money added to her checking account without it being from an employer—and it feels great. Unlike many other RV owners who see their initial investment rapidly decline, hers has produced a highly positive return.

Darlene says if she had more time, she’d create her own website to handle rentals herself, and have the renters provide proof in writing showing that their auto insurance covers them. This could save them a lot of money and would allow Darlene to keep the full rental fee. But she still considers RV Share a nice service to have in case something does go wrong.

All told, the process has been more successful and more fun than she expected. Next up, she hopes to buy a piece of land in a desirable vacation spot, and place a trailer on it to rent as an Airbnb—and maybe even another RV as well. She’s happy to go where the road takes her.

 

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MENTIONED IN THIS EPISODE:

• Learn more about the possibility of listing your own RV or book your own RV rental through Darlene’s listing.

SEE ALSO:

• Busy Mom Flips RVs for Fun and Profit: A mom with five children and a DIY blog learns to buy, refurbish, and resell RVs, earning an average of $6,000 for each one.
• RV Nomads Help Fellow Travelers Get Online: When a couple turns its back on the big city in favor of a nomadic lifestyle, they stumble across an intriguing business idea.
• Newlyweds Operate Campground Booking Biz From RV: When a young couple embarks on a journey by RV across the United States, they spot an opportunity in campgrounds that don’t have a convenient way to reserve spots.

Inspiration is good; inspiration combined with action is better. Now get back to work!

Yours in the revolution,