How to start lease on owner position with companies

First off don’t. It’s a terrible time to go that route and have no clue what you’re getting into. Rates are trash and probably will be for quite a while. Second have you figured out your costs for running a truck, and for paying a driver? Are you paying on 1099 like most fly by night companies? Or W-2 with a solid plan. The best way to become a millionaire in trucking is to start out with 2 million.

 

Well you need to figure out your running costs per mile to take care of the truck and your driver. I’ve never owned a truck, but let’s says it’s $1.60 per mile to break even after driver and payments and everything is paid. That’s your absolute bare minimum you should run for, and don’t do it very often. Fuel is high and rates are cheap right now. New trucks are also pretty expensive and interest rates are high.

 

This is why you should not.

It is a good question but I don't see what you will gain at freight that is cheap to begin with.

How much do you have to spend?

I would venture that you would need at least $50k of liquid assets to make a go at it.

You would not pick the loads or make the decision if you go the 1099 path, the driver has to in order to be legal.

The other thing is that right now, freight is slow, we have an overcapacity for trucks and too many drivers. What you will end up with is more headaches and hand-holding.

You mentioned a driver, is it a relative or a friend?

Never ever go into this with a freind or a relative - NEVER.

Are they experienced with a CDL with Hazmat?

Don't get into a non-cdl truck, that's all local crap that is a PIA and not worth it.

 

When you have more questions than answers in this and want to jump in the deep and in this economy, you will sink. You would need something to specialize to get ahead. Unfortunately, I would never suggest anyone ever be an O/O it's a giant gamble. I don't care to gamble I tell you what, though if you pay someone to kick you in the jewels. It would still be less painful for you when you hit the red and everything hits the fans and you lose everything which what happens to a lot O/O then they come here and cry about it how it didn't work and somehow no one told them how bad idea was when everyone was telling them it was terrible idea.

 

So you're gonna go out and drop 70k+ on some equipment , hire a driver that's going to get paid 1k+ a week a truck that's going to cost 3k+ a week in expenses ... all that to profit a couple hundred bucks a month???

Dude go trade the stock market or bet on sports . Better use of your time and you might actually make money..

 

Bet on racehorses with the money you have. Much more fun

 

You should totally do it. Big money on the boards and don't forget Amazon is where the real money is.