Someone will run my truck and trailer Questions

Concorde · Jan 17, 2021

Trucking121 said: ↑

I’m looking for investment / business opportunities and he pitched this to me (buy a truck and I’ll run it for you) he will be in charge of getting a driver, and coordinating everything (including maintenance etc but I would pay for these expenses) and he will get 17% of my gross earnings.

What’s your opinion on this?
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Opinion? It’s retarded.

Most likely scenario if you buy a used truck..
You’ll end up owing your “friend” a weekly settlement. You will no longer be friends in 6 months and you will be too poor to afford litigation.

MTN Boomer · Jan 17, 2021

Trucking121 said: ↑

I’m looking for investment / business opportunities and he pitched this to me (buy a truck and I’ll run it for you) he will be in charge of getting a driver, and coordinating everything (including maintenance etc but I would pay for these expenses) and he will get 17% of my gross earnings.

What’s your opinion on this?
Click to expand...

Lease the truck to him for a fixed amount per month. Then when the driver he hires does not pan out you will make money on the truck.

Trucking121 · Jan 17, 2021

17% and I pay for everything including driver.

I do own real estate. But can’t buy anymore because of the insane competition!

thanks Dino! What do you recommend I do if I want to break into the trucking industry.

Dino soar said: ↑

Thank you for clarifying that.

I would not try to just dissuade you for the sake of doing that, but my honest opinion is that it's a very difficult situation For more reasons than I can actually write out in a post.

As was said earlier with 3 hands in the pot you are lucky if anything is left over. I don't think 17% of the gross is even enough for him to just pay a driver. Are you saying that you would pay all expenses including paying the driver and then you give him 17% for handling things?

I will respond to your post honestly however I can but your best bet if you have money to invest is to just by real estate and pay the realtor 10% to handle it and that's the best answer.Many people become wealthy in realestate. Most people lose money in trucking especially if they have no experience and rely on someone else.

There are a lot of ways this could go badly and cost you a lot of money, and hear my words- COST YOU A LOT OF MONEY. Even if everything went smoothly, you would not make very much in the end and it would be a very bad risky way of trying to use your money to make more money.
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abyliks · Jan 17, 2021

Do you have a CDL?

Trucking121 · Jan 17, 2021

abyliks said: ↑

Do you have a CDL?
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No

Oakland Raiders Forever · Jan 17, 2021

Trucking121 said: ↑

17% and I pay for everything including driver.

I do own real estate. But can’t buy anymore because of the insane competition!

thanks Dino! What do you recommend I do if I want to break into the trucking industry.
Click to expand...

Don’t break into the trucking industry.

Buy shares of VTSAX with Vanguard and enjoy life at the beach and the golf course. If you would have purchased $20,000 of VTSAX in January of 1988 and done nothing else , by the end of 2020 you would have about $880,000.00. Almost a million bucks for doing nothing more that purchasing big mean greedy corporations (Sarcasm).

Trucking121 · Jan 17, 2021

Hey Las Vegas Raiders Forever, I have stocks (mainly blue chip stocks, no etfs), it’s boring.. but thanks for the suggestion.

there is money to be made everywhere, the friend showed me what can be made in this industry and it looks very attractive. Granted he might be making it look better than what it is so he can convince me, but it’s still great!

Oakland Raiders Forever said: ↑

Don’t break into the trucking industry.

Buy shares of VTSAX with Vanguard and enjoy life at the beach and the golf course. If you would have purchased $20,000 of VTSAX in January of 1988 and done nothing else , by the end of 2020 you would have about $880,000.00. Almost a million bucks for doing nothing more that purchasing big mean greedy corporations (Sarcasm).
Click to expand...

JonJon78 · Jan 17, 2021

Trucking121 said: ↑

Hey Las Vegas Raiders Forever, I have stocks (mainly blue chip stocks, no etfs), it’s boring.. but thanks for the suggestion.

there is money to be made everywhere, the friend showed me what can be made in this industry and it looks very attractive. Granted he might be making it look better than what it is so he can convince me, but it’s still great!
Click to expand...

Please explain what's great about it? I've got lots of extra money laying around that I'm looking to burn, enlighten me.

abyliks · Jan 17, 2021

So what makes you think you can make money In an industry you not only know nothing about but can’t even do the work in?

Oscar the KW · Jan 17, 2021

JonJon78 said: ↑

Please explain what's great about it? I've got lots of extra money laying around that I'm looking to burn, enlighten me.
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