So it begins

My dream is finally becoming a reality. Sure its a crappy dream and I wouldn't wish it on someone else, but its what I want to do and that's good enough for me. I'm going trucking.

I'm starting this thread both to detail my own experiences starting from scratch and to field questions from people wanting to follow a similar path. You'll see the good, bad, and probably the ugly here. I'll post the numbers I put up and the expenses I incur. I'll try to make a special note of things I come across that aren't in the typical newbie advice. You may even get to see me fail spectacularly, who knows.

Here's a quick summary up to this point. I've loved trucks for as long as I can remember. That came from my dad, who drove trucks since before I was born. He was OTR for several years and then had almost 30 years at a LTL grocery supply company (Affiliated Foods SW in LR, AR if anyone remembers that place). I had a few jobs working the docks in warehouses but didn't get started in the industry until 2008 when I began driving light duty tow trucks. I did that in varying full and part time positions until 2010 when I went to trucking school to get my CDL. Can't say much good about those places but at least the one I went to was a full six months, not these three/four week hack jobs churning out Werner drivers haha Probably the main benefit of going to school that long was I figured out the bottom feeders game before I graduated, thanks in no small part to this forum. I started pulling a flatbed for BTC out of Memphis straight out of school making .34 cents a mile, which is pretty good for a rookie. I might still be there today but after almost a year on the road with them, I got a DWI on a weekend home and lost my CDL for a year. After that year, I got it back, found someone nice enough to give me another chance and spent the next three years back in the tow truck world, driving everything from the company service truck to HD wreckers and hauling equipment on a Landoll. For the last eight months, I moved to Denver from Little Rock and have been working for a tower crane company, both as a driver and fabricator in their shop.

Sorry, that wasn't quick at all haha anyway, my current situation is this - I moved out here for a former girlfriend and things haven't ended well. My lease is up the end of next month so I've been wracking my brain, running through countless scenarios and trying to figure out my next step in life. My sister and brother in law got their authority and started a hotshot/freight hauling business running a 3500 series and 40' gooseneck almost a year ago. I've had a standing offer to drive for them since before I moved to Denver but its never been the time and more importantly, I wanted to make sure they made it first. No point jumping on a sinking ship. Well, after nearly a year of keeping tabs on them, they've been successful enough I feel comfortable taking that chance.

That, combined with the current chapter of my life wrapping up here in Denver, made the choice for me. Yesterday, I financed a 2004 Dodge Ram 3500 and I plan to be rolling, if not by the end of the month, the first week in June. For the sake of not creating an even larger wall of text, I'll post a separate message below delving more into the business side of this below.

 

So here's the skinny on the business end. I'm not going into this blind. I may have just a hope and prayer but I feel I'm pretty grounded in the reality of the situation. This isn't a move of naivety or desperation. This is something I've always wanted to do and the time is finally right. I have no expectations of getting rich doing this. Based on my estimations, I'll be doing more work for roughly the same net pay as my current job. The bonus is, I'll be doing it with a lot nicer truck haha (my last vehicle was a '96 Cherokee and before that, a '91 Dodge D150)

I'm going to run under my sister's authority with a 80/20 gross profit split. I considered getting my own numbers but I chose this instead for two reasons. The start up expenses I'm going to incur are already going to be a stretch and I don't have the funds to swing everything solo and two, their operation has been increasingly successful over the past year and I get to plug into the network they've been building instead of starting my own from scratch. I've read a lot of stories about a lot of people getting screwed with lease agreements and there's the double concern of working with family but for me, in my situation, this is the best option. All my equipment will be in my name, separate from any agreement I have with her company so I always have an out if things don't work.

Here's what the month ahead looks like for me. I bought a truck so that's out of the way. As mentioned above, it's an '04 Dodge 3500 SLT Quad Cab with a 5.9 Cummins and 188k miles on it. One of the main selling points for me was the truck has only had two owners and according to the Carfax, the recommended maintenance was done on it for the majority of it's life. I looked at several different options, including an '89 Freightliner Classic with a sleeper, the front drive and fifth wheel removed and a cross member with a ball and safety hooks over the rear drive added. I REALLY wanted that truck but financing on something that old wasn't in the cards. After going over several options for a trailer, I lucked out and discovered my former boss, who I'm still on great terms with, has a new 30+5 gooseneck sitting on his yard with no way to pull it as one of his employees wrecked his dually so I'm going to lease that from him for several months while I'm generating the revenue to finance a 40' flat top of my own.

I'm going Tuesday to get full coverage on my truck. To answer your question 337ram, I don't have that information yet but I'll post it when I do. There's plates to get. My sister has IFTA and they plated their truck at 30,500 so I'm going to do the same thing. Under 26k is too restrictive and anything over that is more than the truck/trailer combo can legally haul anyway. I have to modify the tint. It's too dark on the front side glass and too low on the windshield. I need a DOT inspection and, since I'm starting the process in CO, an emissions test. I'm going to buy a mix of straps and chains/binders. I'll get tarps eventually but they don't run many loads that require it so it's not an urgent issue. If I think of anything else, I'll post it.

To answer your other question 337ram, they've been averaging $3k a week gross. So with my cut, I'm looking around $2,400 a week gross. Possibly more as they're home most weekends while I plan to stay out a few weeks at a time but for the sake of being realistic, I'm not counting that until I see it. I underestimated my earning and overestimated my expenses when coming to this decision and it still works, so I feel good about that.

 

Yeah, I'm going to sleep in my truck most nights. I know from experience that even a full size sleeper gets old after awhile so I'll get a motel room one or two nights a week to avoid burn out. I plan to pull the back seat completely out and possibly the front passenger seat and build a bunk with storage but that's later on, after I'm turning a profit.

It is actually legal to sleep in your truck now. The law was amended is the past couple years and now reads -
FMSCA 395.2
On-duty time shall include:
(4) All time in or on a commercial motor vehicle, other than:
(i) Time spent resting in or on a parked vehicle, except as otherwise provided in § 397.5 of this subchapter;

397.5 pertains to hazmat. You just have to log off duty instead of sleeper as the backseat of a truck doesn't fit the requirements of a legal sleeper.

I live just outside of Denver in Englewood. I love Colorado but I don't care for Denver lol Housing prices and traffic are both out of control. I plan to move back here one day but it'll be down south or out in the mountains.

 

A quick update

I got the quote for my insurance. $1,344 per year for comp and collision on my truck, $576 for the trailer. These are rates through Progressive. Since I'll be added to an existing policy, there's no down payment and non trucking liability is included. The general liability and cargo end of it is $600 a month though and to make sure my end of that is covered, my lease is going to be 75/25 instead of 80/20. Which is fine, since I'd figured my part of the liability ins into my expenses. Same difference, only this way I don't get the money just to give it right back.

I now have a fire extinguisher, reflective triangles and spare fuses on board. I also have spare bulbs for nearly every light on the truck since a few were out when I bought it and I only needed one out of the two pack. So that's handy. Filled out and mailed all the necessary paperwork today which included employment app, drug testing and authorization to pull my driving record. Only a few weeks left to go.

My sister and bro in law had a good week. Not sure what their first load was but they had a 600 mile run for $2k and an under 200 mile trip for $750 to total out at $3,970 after factoring.

 

That's correct. Under your own authority, you have to carry 1 million liability and cargo plus commercial insurance (comp and collision) on the truck and trailer. As a lessee, regulations require the MC to provide liability and cargo ins (which their cut of gross covers) and I provide the other half. I'm not required to be on their insurance and will have to sign paperwork stating there was no coercion involved. Its the cheaper option though so that's the direction I'm going. Whoever you go with, make sure non trucking liability is included if you're going to also use your truck as your personal vehicle like I am.