Investing in Equipment

Wanted some Input from you guys. i have always wanted to own a Peterbilt and hire a driver to haul for me.

I recently liquidated a few assets to buy some land to build a house but the land owner backed out. So I decided to invest In a truck so I will be buying it outright with no payments. I plan on doing this short term to come up with more money to build our dream home sooner. But if it keeps generating income keep it going.

I don't even have a CDL but am working on getting one so I can at least move the bobtail around locally to bring her in for service while my driver is on vacation or on R and R per say.

Looking to spend less than 25K on a 379 Pete from 1998-2002 with a Detroit 60 or a Cat with a 13+ transmisison.

What's a good pay for a driver hauling a tanker.
I will be paying with a 1099 form (pros and cons please)

I already talked to the company that I want to contract with and they will contract with me. They cover all expenses and provide the fuel card. I just have to provide the truck and driver.

This is is more of a extra income business. Id like to ideally be get my investment money through this trucks income. But if I need any repairs have the money to pay for it without getting into debt.

Thanks again for for taking the time to read this

Stay safe on the road and God bless.

 

Thanks to all who have replied. I plan on hauling milk. The truck I am potentially looking to buy is a well cared for owner operator package 379 Pete extended hood. Has about 1.4 on it but has an inframe done about 200k ago. Documented paperwork is what I am looking for next. I know it's an older truck but the contractor doesn't have a min year model so as long as it's kept and DOT compliant.

Thankf for the suggestion there dustinbrock but financing is not an option for me.

 

Thanks Admiral for your input. Akron OH Eh I went there once fifteen years ago my pops used to haul for Rapid Delivery out of Jackson MS and we went to the Delphi plant I want to say there in Akron.

 

Anyone else that can chime in?

Whats A good starting pay for food grade regional hauls?

How do you pay your drivers?
per trip, per mile, or salaried.

 

Hey thanks for all your input. I appreciate you taking the time. No one said I didn't care just new to this. I'm guessing you pay your drivers differently or didn't like being paid with a 1099. If so could you share your wealth of knowledge and suggest an alternative method. I am not set on that just looking at how starter owners work. I do however believe in raises and bonuses for hard workers.