Owner Operator here no debt

In b4 they tell you not to chase miles

FWIW I will be in your shoes soon enough, no debt, money in the bank. God willing the economy permitting. I’d have plunged in already but I was holding back because we were due to have a recession, I was scurred to commit. Then the virus hit. What has kept me in the hunt is the possibility of buying a cheaper truck. But it’ll have to be substantially cheaper to be enough to weather what’s about to happen

 

Oh sorry, as you were. Guess I’m rambling.

But, you wanted to run 3000miles pw, a touch point for them. Chase the money, not the miles yadayada

 

Good Morning,
1. Possible and feasible.
2. At this time difficult for loaded miles, especially on long hauls.
3. Generally there is nothing else but decrease at present time.
4. I pay for mine about $2000. You are an owner, you should have your plates. If you use someone else's plates then you are pseudo-owner as someone else has control over your equipment.
5. Any.... with the least APR and the highest balance. I am using Chase INK and Capital SPARK business.
6. I don't know...I am independent. Others will tell you.
7. Build up reserves for at least 15-20K and try not to go below that, especially with the truck of yours. The sooner the better. As matter of fact. I would not want to start without such reserves.
8. Insurance is different for someone who is leased on to another carrier and for an independent o/o.
9. too broad ... others will tell you
10. Even though you have no truck payments, your truck can be liability. Be prepared for many unpleasant break downs. You need that cash reserve for maintenance.
Good Luck.

 

Is it better to start your company are get hired on if you have ur own truck and trailer I’m trying to get started

 

To 'both' of you... I'm NOT an O/O, but have been in the business of trucking for 20 plus years. Unless I missed it, what freight are you wanting to pull?

IMHO.. in this economical 'downturn' and 'unrest' ... were I you's guys, I would LEASE on to .. somebody. Not allowed to recommend on here, but do your due diligence, and read.

Reefer? (<< good money, sporadically right now...) Tanks? (always busy, but..overproduction of milk... cows don't quit...) Flatbed? (Couldn't tell you, wasn't my forte, but I'll get ya somebody that can...@TripleSix ?) Heavy Haul?!? (<< SAME.) Dry vans? (I haul cardboard and paper products, so I'm good ...and should be for a good while.)

AND .. how much experience do y'all even HAVE driving, at all? Few years in.. .company side?!?

I almost mortgaged my farm.../home/acreage to buy a Pete ..but my buddy only wanted to sell the 'fleet' ... (of five.) Coulda, woulda, shoulda? I'll never know.

Think long and hard. Straight up authority will skyrocket your insurance, and the market (boards) are bleak....but for specialties. New numbers... are ... just THAT.

BEST OF LUCK.... I'll follow this thread, anyway!

Tomcat

ps: If my 'tag' didn't work, look up @TripleSix and MANY other great guys/gals on here.

psps: @Chinatown is a wealth of information; he's our 'TTR guru,' regarding companies.

 

Not a better time then now to start a trucking business!!! Tons of loads available on all load board!!! High paying loads to!!! Success in the making!!! Everyone out here is swimming in $100 bills.