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Looking to take over an Owner/Operator's business.

Discussion in 'Trucker Forum Classifieds & Trading Post' started by keithlaborde, Oct 15, 2017.

Page 2 of 5
  1. Oct 17, 2017 #11
    Canned Spam

    Canned Spam Road Train Member

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    Things generally don't work that way, but good luck
     
    Canned Spam, Oct 17, 2017
    Canned Spam, Oct 17, 2017
    #11
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  3. Oct 18, 2017 #12
    Oscar the KW

    Oscar the KW Going Tarpless

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    I’ll sell my business, one truck and three trailers plus my book of business contacts. Authority is older and in good standing. But it would have to be an all cash purchase, I am not a bank. $360,000
     
    Oscar the KW, Oct 18, 2017
    Oscar the KW, Oct 18, 2017
    #12
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  4. Oct 18, 2017 #13
    DUNE-T

    DUNE-T Road Train Member

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    What if you take the truck, take parts out of it and leave it in the desert? What if you have bad money management and don't have funds for costly repairs? What if you completely mess up the company's safety score or steal the cargo?
    Somebody who gets into this deal with you would be a complete moron to do that. Save up enough, or get a loan. This whole making payments plan is just silly
     
    DUNE-T, Oct 18, 2017
    DUNE-T, Oct 18, 2017
    #13
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  5. Oct 18, 2017 #14
    keithlaborde

    keithlaborde Bobtail Member

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    Then with the contract, that person can sue the #### out of me for everything and more. Anyway this thread is getting ridiculously off topic. Owner financing is a real thing and due diligence is important if someone did get into a deal like this. It's just dumb to think that I and someone else would get into a deal like this and not button up everything. Since you don't like the idea and you don't have a business you'd like someone to take over, it would seem you're just here for you opinion which, as I stated in the original post, is unwanted.
     
    keithlaborde, Oct 18, 2017
    keithlaborde, Oct 18, 2017
    #14
  7. Oct 18, 2017 #15
    DUNE-T

    DUNE-T Road Train Member

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    Who the hell cares if opinion is not wanted, it's a public forum. About suing, if you are broke and not able to pay for truck repairs, what's the point of suing you?
     
    DUNE-T, Oct 18, 2017
    DUNE-T, Oct 18, 2017
    #15
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  8. Oct 18, 2017 #16
    boredsocial

    boredsocial Road Train Member

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    So he has to sue you to get back what already belongs to him because he trusted you? People who know you might do this deal if you're a good guy everyone trusts. Strangers aren't going to do this without a significant amount of money down PLUS the remainder in payments. I'd be surprised if someone let you finance more than half of the total value of the company... And the interest rate isn't going to be low. If you were credit worthy your bank would have given you the loan at a reasonable rate... so that's not even them screwing you.
     
    boredsocial, Oct 18, 2017
    boredsocial, Oct 18, 2017
    #16
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  9. Oct 18, 2017 #17
    keithlaborde

    keithlaborde Bobtail Member

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    Not saying it's not a risk, it's would be a risk for both of us, someone (not you) would have to decide for THEMSELVES if the benefits outweigh the risks. Someone who ponders all day on what ifs will probably talk themselves out of risks. But please keep giving me hypothetical scenarios where this doesn't work, I'm sure you can think of plenty.
     
    keithlaborde, Oct 18, 2017
    keithlaborde, Oct 18, 2017
    #17
  10. Oct 18, 2017 #18
    tommymonza

    tommymonza Road Train Member

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    EXACTELY
     
    tommymonza, Oct 18, 2017
    tommymonza, Oct 18, 2017
    #18
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  11. Oct 18, 2017 #19
    keithlaborde

    keithlaborde Bobtail Member

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    All I am seeing is "I don't want to do this and here's my opinion why" haha. So thank you for your worldly wisdom but let people figure out things on their own
     
    keithlaborde, Oct 18, 2017
    keithlaborde, Oct 18, 2017
    #19
  12. Oct 18, 2017 #20
    boredsocial

    boredsocial Road Train Member

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    So don't give them advice? What about my post suggested I was on your side here? I don't think anyone will do the deal because I don't think anyone should. Get a bank loan, money isn't hard to come by right now.
     
    boredsocial, Oct 18, 2017
    boredsocial, Oct 18, 2017
    #20
    spyder7723 and Canned Spam Thank this.
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