Email

kyle_hendrix@outlook.com

Phone

949-991-0887

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We Help Be The “Tour Guide” When

Starting Your Own Car Rental Business

With 4 Personalized Educational Packages, Customized To Align with your Distinct Needs & Goals

About

10 cars in Dallas

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About

”10 Cars In Dallas”

Hey everyone! Kyle Hendrix here. Wanted to write to you and tell you my story as to how I got started in the Car Rental Business. It is a bit unorthodox as far as what you are used to hearing, so let’s get to it…

Similar to most, I was looking for something new when thinking about starting a business. Over the past few years, i’ve tried it all; selling Herbalife shakes, Amazon FBA, and most recently investing in a few Out of State Real Estate Properties. Once I used up all the cash I had for those properties, I was looking for a more lucrative business that required little to no money down.

Then one day on YouTube, I stumbled upon Episode #70 of the Social Proof Podcast titled, “How To Buy 33 Cars in 2 Weeks for Turo w/Ceo Matty J”. My mind was blown; this guy Matty J from Atlanta went and bought 33 cars in 2 weeks. How?

The banks were not able to see that he just purchased cars prior as the accounts take 30-45 days to reflect on your personal credit report. He was also able to add other people’s cars, but most of the cars were purchased himself. Similar to Matty J, I just decided that if I am going to have any luck in this business, I just need to dive off the deep end and figure out the rest later (here we go)…

February 1st, 2022 – I bought Matty J’s course and went through all his classes, but still did not have a clue how to get started. One day I was searching through Google and found this management company; I entered the chat bot and was connected with a Business Development Manager from Florida. They filled me in on everything this management company offered and the last question I had for them was, “can you also help me purchase cars to get started”? They connected me with someone from Dallas, Texas to help me get cars and we went to work…

I purchased the first 8 cars in Dallas using an unsecured loan for down payments, then allowed the management company to onboard them on their platform. I also got connected with someone from New York (still wish I bought all my cars from them) and purchased 2 other cars, making that a total of 10 vehicles. In a matter of 2 weeks, I was able to create a 6-figure passive income investment with none of my own money (or so I thought). Sounds pretty good, right? Well, yeah it sounded like a good idea at the time…

March 1st, 2022 – Something was a little fishy; the Business Development manager from Florida was not returning my calls. I then asked the Business Development manager in Dallas what was going on, and they notified me that they have been fired from the company for referring me to the person in Dallas. This is when I find out that the person in Dallas did not even work for this management company and that I ended up purchasing some of their own cars (this is when things go South). They then notified me that 2 of the cars I had purchased could not be added to their platform as they did not meet Turo’s requirements, and 3 of my cars were going to be waiting for service appointments until May to have the software updated so I can add to the platform. Well, that’s half the fleet already down, not the best way to start…

April 1st, 2022 – Thankfully, the 2 cars that could not be added to Turo were seller financed, and I had to pay my way out of those loans, lose my down payment, and spend weeks coordinating for them to be returned (which was a logistical nightmare). At this time, only 2 cars were on the road making money (both from the source in New York), 1 was being driven as my personal vehicle, 2 of them were in the shop for repairs totaling $7,800, and 3 of them were still, “waiting for service appointments” (more on this later). Just paid all the car notes/insurance/exc and had a $6,600 loss with an additional $7,800 going to maintenance. Not a great first month…

May 1st, 2022 – You would think things would have turned around at this point; you were wrong. At this point in May, only 1 car was on the road making money and all the other ones were either waiting to go into the shop or already in the shop. One of the cars that just got out of the shop had to go in again for a blown transmission. Cost of repairs? Another $10,000, with $5,000 pending for the cars waiting for their May service appointments. So, another $7,200 loss, $10,000 due to the shop, and $5,000 pending for future repairs. Well, this just got real ugly…

June 1st, 2022 – So last month, it was finally time for those 3 cars to go in for their service appointments to update the software so they can be added to the platform. The issue? They did not know where the cars were! They had been driven until the battery was dead, and left somewhere in Dallas with no knowledge where they were located. After a week-long witch hunt and 100+ calls to AAA for tows, all the cars were finally found and I had learned later that they were never even scheduled to go in to the service center (confirmed on my Tesla app). In addition, I get a call that one of the cars electrical system was not working which caused Bluetooth to be inactive, and that the management company had to take it off of their platform due to it negatively affecting their ratings. Cost to repair the electrical? Estimated at $10,000. That’s not all; I did not even have the title to this car as the previous owner still did not pay off the loan (blessing in disguise, believe it or not)…

Later in May, in the worst physical and mental condition of my life, I went to the beach to clear my head and think of a way to get out of this mess. I was losing over $15,000 a month, not able to sell anything for my day job (try selling anything when you are dealing with all this), maxing out every personal credit card I have, thinking bankruptcy was not only a matter of if; but when…

With a few more months of personal credit cards to burn and bankruptcy fast approaching, I made the decision of making a last-ditch effort by shipping the cars over to Orange County and starting my own Car Rental business. Well shit, did I really have a choice in this situation?..

July 1st, 2022 – At this point, I was managing 3 cars myself and had them listed on the 3rd party app Turo. Three Tesla’s, with one being my old personal vehicle as I got an economy car to get me around while I rented this one out. In Dallas, I still had 5 cars with one of those five being sidelined as I declined to have the electrical repaired until I receive the title. Still was losing money at this point, but better than prior months.

August 1st, 2022 – I ended up selling one of the Real Estate properties, and with good timing. I had a $4,333 service bill waiting for me on one of the cars third trip to the dealership since I bought it (costing me a total of $17,000). At this point, every single credit card I had was maxed out and I had no way to get it out of the shop. I used the money from selling my house to get the car out of the shop and shipped it over to Orange County, making a total of 4 cars I was managing myself with 4 left in Dallas.

November 1st, 2022 – Fast forward 3 months; I was able to survive through the Summer months and then had the last 3 cars in Dallas shipped to me. I called all the banks and did payment deferrals on all the loans to free up funding to ship and onboard each of the cars. I also ended up taking in a Corvette and adding it to my fleet, making a total of 8 cars under self-management and one car left in Dallas.

Then, finally a break! The bank for that last Car in Dallas ended up unwinding the financing as they still did not have the title as collateral and I told them over the phone, “they will not receive another payment from me and here is the address to repo the car” (was advised against it, but desperate times call for desperate measures). Along with this, I got a way better sales job and was making good money again to help fund my survival…

Finally, just finally I had not only a chance to get out of this, but also control of my own destiny. In prior months, I was losing big and could not do anything about it. Now, at least I had all the cars with me and a fighting chance to get out of this…

December 1st, 2022 – I then sold the other Real Estate property and had just enough to get myself out of another tricky situation I did not even know about until I looked at the numbers…MOST OF MY CARS DON’T WORK ON TURO!!! I had to find another way to make money on these cars outside of Turo or I would have just prolonged the fact that I was going bankrupt. I could not just sell the cars as I was underwater on all but one, so it was then time to use all the money I had left to take this business private…

June 1st, 2023 – Fast forward another 6 months; as I am writing to you, EVERY SINGLE CAR in our fleet is currently on a private rental. Our website is up and thriving, Summers just getting started, and we are now making triple what we used to make at our sales job. Hendrix Rentals is finally a profitable business, and we are now looking forward to introducing Hendrix Investments Inc as a way to offer various options for you to learn and start your own car rental business.

Through God’s grace and our perseverance to not give up, we are very excited about what the future holds for our business and look forward to sharing our story with each and every one of you. I truly believe the 6 figure losses we endured will turn into multiple 7 figures in the future. You have to go through it to get to it; everyone’s situation will be different and I am just telling you what happened to me and how I learned to do everything in this business (pretty crazy, right?!).

Hope you learned a little bit about us! We strive through these offerings to act in good faith and help you avoid the things that were unavoidable to us at the time.

We look forward to working with you, and look forward to seeing your success!! 

Kyle Hendrix, Owner of Hendrix Rentals

Services

What We Offer

You may be thinking, “where in the world do I even start?” That’s what we’re here for! We will be with you every step of the way as we work together to assure you success in your car rental business. Here are the steps we would follow to do just that:

1 Hour Consultation

Schedule a 1-hour call with us and we would be able to answer any questions you may have about starting your own car rental business.

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Build Out The Fleet

One time charge for anyone who is ready to start but needs help with picking the right vehicles. Being a Power Host, we have access to a Turo Account Manager which can help review the numbers and make educated decisions when choosing the right cars.

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Add A Vehicle To Our Fleet

An opportunity to not only make passive income, but also an opportunity to see the inside of our business and learn from someone currently in the business!

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Lifetime 1 on 1 Mentorship

Long term partnership, where you have full access to our systems and strategies to ensure your success in this business. As we learn, we also share with our mentees and create a network of winners!

Contact Us To Book Your Consultation!

We recognize that individuals have unique circumstances and varying levels of experience when it comes to investing or launching a business. With numerous factors to consider, we’re pleased to provide these services to assist you in making informed decisions. Kindly share your details below, and we’ll respond within 24 hours to arrange a consultation to explore various approaches. Thank you for considering our services, and we are committed to helping you succeed every step of the way!