How This Millennial Generates $40K Per Month Working 30 Minutes A Day: ‘It’s About The Experience’

Most people dream of finding ways to generateenoughpassive income to quit their jobs and just keep L-I-V-I-N, as Matthew McConaugheyfamously saysin "Dazed and Confused." Well, one young entrepreneur has figured out how to bring inclose to $40,000 a month working just ahalf hour each day.

What To Know: According to a CNBC report, 32-year-old salesmanJP ManciniIIowns twoboats in south Florida andbringsin an average of $38,800 amonth by renting the vessels for chartering trips.

It didn't take him a fortune to get startedeither. In fact, he bought his first boat in 2020 with a down payment of $1,700. After setting up a quick chartering website and using Alphabet Inc's Google Ads to drive traffic to the site, he was off.

In 2021, he sold that boat and upgraded to a $400,000 boat that would attract higherpaying customers. He used a bank loan to cover the entire payment.

"Theres a reason people pay for the Ritz Carlton when theres a Motel 6 up the road for $39.99 per night, Mancini told CNBC: "Its about the experience."

After finding some early success with rental platforms like Boatsetter and GetMyBoat, he left his job selling cars at a local dealership and added a second boat to his fleet. This time, he used a $150,000 personal loan to cover about halfof the costs.

Between the two boats, Mancini pays around $6,000 each month on the loans, but as previously mentioned, he's generating close to $10,000 a week by renting them out for chartering trips.

He charges renters between $800 and $1,800 for trips lasting anywhere from 2 hours to 8 hours. The renters are also required to hire their own captains, which are usually provided by the online rental platforms. Theplatforms also do all of the advertising and take care of the insurance for a small fee.

Mancini himself only has to work about 30 minutes each day managing bookings and making sure the captains are keeping the boats in good standing.

See Also: Best Passive Income Generating Assets

In 2022, Mancini bookedapproximately $190,000 in profits. Instead of using the money to pay off the loans, he told CNBC that he's looking to add a third boat to his fleet and hire someone to manage bookings, which would eliminate the half hour he spends on the venture each day.

"I dont like to spend any earned income. I use it to build out other investments.Thats the whole reason I started chartering in the first place. I couldnt subject myself to the costs of luxury [boats], so I found a way for them to pay me back," Mancini told CNBC.

Check This Out:This Entrepreneur Turned A Vending Machine Side Hustle Into A $300K Business Now He Works Just 4 Hours Per Week

Photo: shutterstock