Thinking about diving in to O/O

You make it sound like being a barber is lower than being a truck driver....I'd love to generate the CASH that my barber does working out his converted basement.

 

http://www.paturnpike.com/toll/tollmileage.aspx


Used it the other day saved me 150 miles out of route and alot of time my company wanted me to take.

 

I think you could pull it off. It's just a matter of capital. Takes time and patience to build. LP is not something I would ever want to try but Malone is not putting you in a $2,500 a month truck payment. They look like old crst dry van trucks, most have seen better days, would be concerned about higher than average maintenance costs. Their rates are better than anything else going with a LP plan, percentage.

 

This is probably the strongest post in this thread so far.
Having bad/poor credit and barely $1 in the bank and signing onto a Lease is a really..really bad way to start...
...What happens in a weak/lean month and you have that note to pay? - What fund can you tap to help cover/extend you in the meantime?

Working as a company driver, letting someone ELSE handle and manage all of the worries and repairs is the better way to start.
Save up money (if that's even possible) while trying to work on repairing your credit.

I think many guys get into this thinking "Oh that won't happen to me..it will be different" and then 6months from now, they drop off this site.



Your current business sense and skills are what needs to guide you here. Best of luck...

 

I just had to put $8000 into my truck and trailer. How many miles will you need to run in order to have that much cash on hand once on your own?

 

That BestPass looks like a pretty good deal. If I ran up north more I'd take another look at it. At the time I opened my account I looked at a couple of options that weren't all that different looking and got mine through PA. That was where we were getting the most tolls for lack of a better reason. $500 to open a commercial account and a $500 replenish when it gets below $100. At the rate you can rack up tolls there, I really didn't blink at that too hard. Also have FL, TX, and OK toll cards. Those have lower prepay amounts, and also much more sensible tolls.

Last I looked you had to have only 5 pre passes to qualify for the EZpass combo. Probably not a problem I will need to worry about for a long while.

Here's a word of encouragement on your credit situation from a guy that had wrecked credit and was loading his worldly belongings into a borrowed pickup in the middle of the night to avoid the shame of facing the sheriff the next morning, 17 years ago. It's easier than it looks right now. You can turn it around in as little as a year and you sound like a guy that can get it done.

The key will be to get the process started if you haven't already. Right now: cut her off, close the accounts, and put a fraud alert on your credit file with the big 3 reporting agencies. She's gonna be pissed for sure and if things were strained before, this will sure fire it up LOL. Once you get control over your finances and start the forward progress, you are 90% there.

Once you get the ball rolling, you'll be amazed at how much less pressure you have on you and at how easy it is to get things back on track.

Once I took the first steps in my case, everyone I dealt with day-to-day (family, co-workers, etc) had something to say about how different I behaved afterwards. I had no idea what a nasty person I had become with all that stress.

 

This is why its critical to have a $20k maintenance fund.
Of course many guys can't do that and have done it on much less, but with a $20k fund, you CAN absorb a $8k repair bill and stay in business!