New O/NO (Non-Operator)

Hey folks, not sure if I'm posting this in the right spot or not, forgive me. Also, forgive my uneducated lingo, as I am not a trucker, and have no experience in the industry. Let me say that I have the utmost respect for truckers, you guys keep the world turning, my hat is off to you all.

So, here's the skinny...

My fiance's father owns 3 trucks and 1 trailer. He only owns them, he does not drive them. He leases them to a large local concrete company, and he has 3 drivers that seem to be happy with how it all works out since they have been with him since he purchased each truck. He started out about 7 years ago with 1 truck as a way to have some extra income, then his profit grew enough that he could afford another truck, and then another. He is talking about retiring from his day job next year, and then around 2015 wants to pass on his trucks to us. Since I don't want to jump in head first when the time comes, I have considered buying a truck of my own, and doing just what he does. That way, when it's time for him to pass his trucks on to us, I will have experience in being an owner. He is excited about my idea, and says he will show me everything I need to know. The problem is the language barrier, he speaks very rough english, and I speak no spanish. My fiance can translate, but her translations aren't always that great since she has no idea how to relay some of the lingo to me.

Anyhow, he owns two 2000 year model Freightliners, and one 1998 model Freightliner. They are all sleeper cabs and have Detroit engines. That's all I know about them. He says he bought Freightliners because they are less expensive to purchase than some of the other trucks out there and he bought them when they all had between 400k & 500k miles. His trucks all pull flatbed trailers with bagged concrete, sand, rock, or roofing material. All three trucks have local/regional runs and the drivers are home every night. This is a contract deal with the concrete company, and he says they are very easy to deal with and always treat him well.

Last night he said he was talking to the lady at the concrete company office and she told him that they needed another truck to haul an End-Dump Trailer. He said he will talk to me and we will try to make something happen by the end of the month. The truck will run locally, and the End-Dump trailer will be provided by the leasing company.

So, I don't even know what questions to ask. I've searched the local Craigslist ads for used trucks, and have seen some trucks that really look like good deals. I can invest around $10-12k for the purchase of a truck, and this price range has turned up a handful of decent looking trucks. I've been looking at Freightliners, just because that is what he runs. Keep in mind I have only spent a few minutes scouring craigslist and haven't looked anywhere else yet. I'm a master auto tech, metal fabricator, and hot rod builder, so I'm not new to mechanics, but my only experience with big trucks is replacing a turbocharger on a company truck. I work for myself right now, and I have a lot of time off, so I can easily dedicate time to owning a truck. Her father owns another business and was full time until recently, mostly due to body aches and pains of manual labor, but even when he was working full time, he said he had plenty of time to dedicate to the trucks, and making sure they were always on the road making him money. So I'll be the sole owner of a truck, leased to a company that keeps them on the road. The company sends me a check every week, and I pay my driver and all my expenses of owning the truck. The rest is profit in my pocket. It seems that I'll spend most of my time making sure that any maintenance is done on time, repairs are done as efficiently as possible, keeping my driver happy and just being the "manager" I guess.

So, can anyone offer any advice for this wet-behind-the-ears kid?

Truck purchase advice?
Truck ownership advice?
Do I need a business set up to do this legally?
What do I need to know about running and End-Dump Trailer?
What are the common issues with the trucks mechanically?

I'm lost, and I really need someone who can help me out in ENGLISH! He will help get me rolling with his experience and connections, as well as any way he can in the future, but as I said, the communication is limited due to the language barrier.

Thanks for the help, and please forgive my ignorance. I'll answer any specific questions to the best of my knowledge if it helps you to give the advice I'm seeking.

Astro

 

Kellyb, thanks for the info. My future father-in-law has no mechanical knowledge and he seems to get by with the maintenance and repairs just fine, so I imagine I can do better. He has a trusted mechanic that handles all roadside and major repairs on his rigs, so I will have him do a thorough inspection of the truck I purchase. Oil sample is a great idea, and not a problem since a cousin of mine works in an oil labratory and has tested some oil samples from my dragster engine. I'll take your advice and factor in a maintenance fund.

 

Any thing else folks?