Becoming an owner operator...

Hello! I am looking to become an OTR owner operator. I plan to run flatbed OTR. I farm in Iowa and am looking to stay busy during the down time. I have the truck, just need to get a flatbed, and money isn't really an issue, as both the truck and trailer will be owned free and clear...

I basically just need to know what I need to do to get myself set up for interstate travel..

1) What does it mean by "I have to license the truck for every state I plan on running in?"

2) Is it better to find a dispatcher or just use load boards?

3) How do I get experience in securing a load and correct load placement?

4) How do I get paid? I've read that shippers don't pay you for several weeks..is this true?

5) how much capital should I have on and at any given time?...(especially in the fist few months)

I'm sure I will think of more questions, but that's all I've got for now...THANK YOU in advance for any information!!

 

Thanks for the replies, guys! I should have mentioned I have a masters degree in finance and I am well versed in business management as I farm a couple thousand acres. The management doesn't scare me at all...I just have some questions on how to get started..

 

Leasing isn't really an option for me. I need to be able to park the truck during the spring and fall to complete my farming duties. Unless there are companies that will let me do that...