JP Mancini II side hustle: Renting out boats, works 30 minutes a day

Fact  

In 2020, he bought a $170,000 Axopar boat, making a down payment of $1,700 from his savings. He set up a website to charter the boat, using Google Ads to reel in customers and cover the boat’s monthly payments.

The following year, he decided to upgrade to a bigger model. He sold the first boat and bought his $400,000 boat from Axopar, taking out a bank loan to cover the entirety of the cost.

In November 2021, Mancini left the car dealership — a “mutual” parting of ways, he says. Two months later, he listed his boat on Boatsetter and Get My Boat. And in May, he bought his second boat, taking out a $150,000 personal loan to cover half of the vessel’s cost.

Between the two loans, Mancini says he pays $6,000 in monthly payments. He hopes that reinvesting most of his earnings can ultimately outpace the interest rates on those loans, he says.