$250K/Month Renting Out Things He Doesn't Own - Ep. #340

Chris Koerner (0:00)

250K a month?

Eli Galarza (0:01)

250K a month, yeah.

Chris Koerner (0:02)

Wow, so you were making 7,500 a month recurring in your first two months?

Eli Galarza (0:06)

Mm-hmm, yeah.

Chris Koerner (0:07)

Okay. Just from Facebook Marketplace posts?

Eli Galarza (0:10)

Yeah, just from Facebook Marketplace posts. That's what enabled me to travel. That's why I've been traveling for years now, because I could do everything for my phone. It's straightforward stuff. Any AI really can take you 90% of the way there.

Chris Koerner (0:24)

How much money did it take to start this business in total?

Eli Galarza (0:27)

I just had to pay my insurance.

Chris Koerner (0:29)

By the end of this episode, if someone has no experience in the industry, will they be able to have enough knowledge to where they could start this business themselves?

Eli Galarza (0:36)

Yeah, definitely. I had no knowledge when I was starting this business. I had no idea.

Chris Koerner (0:40)

You know those big semi trucks driving on the highway? Well, someone probably leases those trailers to them. And today, that someone was Eli. In 2019, he was a real estate agent in Connecticut who'd started matching truckers with loads for about $80 a pop. Then one day, his uncle asked if he could rent a trailer for a semi. And Eli didn't know anything about this business, so he found a company to lease him a 53-foot semi trailer from a big company for about $350 a month. And then he rented it to his uncle for about $750 a month. After getting an insurance policy, he was in business. And that's the whole startup cost. Six years later, he had 300 trailers and was profiting over $50,000 a month with two virtual employees that he'd never met in person. He ran this whole business from his phone in Colombia. And by the end of this video, you're going to know exactly how to copy him. Please enjoy. Okay. Well, why don't we start by you just telling me who you are and what you do.

Eli Galarza (1:35)

All right, cool. So my name is Eli. I run a trucking company. Basically, I rent trailers to truckers. I got started in November, 2019

I got into trucking. I started dispatching truckers. Basically, I was looking for loads for these truckers. And a lot of them were like, oh, we also need equipment. And so I found a supplier. I found someone to give me trailers. They would give me flatbeds and they would give me drive-ins. And so I started off with a couple for me and for I had a driver at that time. And then my uncle was like, I don't have really good credit. Are you able to rent me a trailer? And I was like, yeah, I can rent you a trailer. And from there, I was like, wow, well, if I can do this with my uncle, I can do this with a whole bunch of other people too. And so I started off with one trailer that was in November 2019

Chris Koerner (2:29)

Okay, so in 2019, you were like dispatching trucks, is that right? Like you were trying to match loads, is that right?

Eli Galarza (2:36)

Yeah, yeah, I was matching loads to truckers. So I had a trucker who was available in a certain area. It was a pretty good gig too. I mean, everything was virtual. I always try to be virtual in everything that I do. So yeah, it was virtual too. I would find a trucker who would be looking for work and they would tell me, look, I'm available this day, I'm available this time. And then I would match them with loads. There's load boards that you can get on to and you would try to give them loads.

Chris Koerner (3:04)

Was there any licensing you needed to start matching loads to truckers or you just find these boards and you just start calling?

Eli Galarza (3:11)

No, yeah, you don't need a license to dispatch. You do need a license to broker loads, which means it's on the other side. You're representing the shipper and you're finding them the driver.

On dispatching, you have the driver and you're finding them the load.

Chris Koerner (3:27)

Anyone can just do that. What are some websites where you would go to find loads?

Eli Galarza (3:31)

DAT, Load Board. There's a bunch of load boards. They're called load boards.

And shippers post their loads and sometimes they post it with the rate that they're willing to give you per mile, their requirements, what kind of load it is. You just call them, tell them, look, I have this driver. They tell you that if he's good to go or not. And then they tell you the rate and stuff like that.