would you owner operate green if you could

Yes, CDL. I believe some require 2, and some 3 years.

 

Recommended reading:

http://www.thetruckersreport.com/tr...s/no-experience-but-getting-authority.134211/

http://www.thetruckersreport.com/tr...-company-driver-to-independent-thread.265975/

http://www.thetruckersreport.com/tr.../the-journey-begins-purchased-a-truck.268615/


Personally, I vascillate between this being the best job ever and the dumbest ####ing thing I've ever done. Lately more so the later...

 

I had wanted to jump in in 2010 and go straight to the top of the trucking food chain to owner operatorship. Honestly glad I didn't because there is so much I didn't even know that I didn't know back then. Still. Went to school got the CDL first then to a mega company for about 7 months then leased a truck from them, then paid it off quickly and promptly got two tickets and was stuck there til the CSA points fell off before I could lease onto another carrier. Wasn't the worst thing in the world, learned all the roads in America, learned what I liked and didn't like about various aspects and focused on safety.

Along the way learned that Trucking is dog eat dog times 10. I recall in CDL school many of us were talking about just jumping in green like that, so glad I didn't though No regrets about the path I took.

 

Great responses and good info here so far. As far as the truck goes, if I had the money to start with another truck today, I would find a pre-2003 truck that has been decently maintained and dump as much money into it from the start to make it perfect. I would rebuild engine, put a reman trans and rears in it, rebuild all axles, etc. Maybe it is just me but my used truck adventure has taken alot of money and time when I could afford it least. If you could start with a truck you knew was in good shape, because you replaced everything that wasn't in good shape right at the start you would be way ahead in my opinion.

 

I think if you go O/O you might be able to do it with minimal trucking experience but you do need a business mind to be successful. Keeping doing the research get a good trucking accountant and good luck.

 

Berkshire Hethaway. The only one who took me besides Progressive when I was starting out with not much experience. Thank me later when you make lots of $$$ ))
Oh, and dont listen to all these people, dont let them discourage you. For the 10 failed people there is always one who made it. If you gonna be one of the failures, at least you later not gonna blame yourself for being a chicken and not trying.
Just do what another guy said. Buy a pre egr truck, fix it as much as needed, rent a trailer instead of buying, to have more money in emergency fund. Dont be scared of factoring. In 6 months see how you are doing. If you are happy, keep going, if not, sell the truck, give the trailer back and you are out of business with minimal losses

 

I would look at leasing on to a company, which you can pick your own loads. They aren't gonna hold your hand but of you ask they will be willing to help. Little less headache starting in a new career field. JMO best of luck to you.

 

You realize you're paying around 30% annually for factoring or quick pay? If you gross $20K/month you're throwing around $6000 a year. Might as well use a credit card and pay 14% interest, or find one with promotional 0%.
I think it's ok to use quick pay a few times in the beginning just to get some cash.

 

Thats a common mistake what you are saying. For example I drive 3k per week, on top of that I call brokers, sign contracts, repair my truck, do paperwork and whatever else. Factoring costs me about $500. Those people do all the billing for me, calling brokers asking to get paid, warn me of which brokers not to deal with and provide me cash right away. They save me time. For me all those things are well worth the $500. I would not even be able to find a person I trust to do all that work for that money.
Factoring lets you start out as independent sooner, because you dont have to work for somebody else for another 2 years to save that 30k cushion.

 

I meant 30% in annual interest if the fee is 3% and it takes an average 35 days to get paid.