Liquid assets to start as an OO

I'll be in the market soon, see how it plays out

 

by year 30 id hope I would be prepared for those events, decades before that time, lol, yes I understand where ur coming from, thx

 

My first friend had maybe 200 gallons of fuel and enough money for some tolls and food. This was around 9 years ago. I was on the phone with him helping the whole way.

He started from the Charlotte area. Good place for flatbed freight. He went to the Ohio area maybe 500 miles. As soon as he loaded up he faxed his BOL to D&S Factoring. The next morning at 7am he had $750 deposited into his checking account. Half the amount of the load price.

He put maybe 100 gallons of fuel in. I remember his next load went to Huger, SC for about the same amount of money. He didn't take a fuel advance on that load. Now he had around $2,000 in his pocket and this was after 3 or 4 days. Next load was steel beams from Nucor to Seattle, WA.

That was a 3,000 mile load and paid I think $5,400. After that he was off and running and it just got better from there.

 

I should add. That first person bought another truck, then another and another until he was running 5 total. All the trucks were old and bought for maybe $15,000 each. That's when the trouble started. Bad drivers, accidents, selling fuel, beating the crap out of the trucks and needing repairs and so on. He's all done now.

He looks back on it and if he just did one truck for himself he would have been fine.

 

me wanting to run independently my own authority, exc... hiring drivers iis risky, I don't wanna lose what I try to build, hiring one guy or having him have one mess up can run the business 6 feet under well if the save ur ### button or cushion isnt big enough,

 

I started with $30k of my own money. Bought $20k truck and quickly realized $10k was not enough to continue on. Borrowed another $20k. So $50k cash is what I started with. Paid everything off and debt free inside of 6 months.

Its not cheap,.. not when you factor everything in and take into account how quickly everything adds up. You can go upside down and never recover in the blink of an eye.

Hurst

 

10 -15K in cash reserves, Dont overpay for a truck set a budget and stick to it, dont beat on your truck it treat her like a new girlfriend, fix small things BEFORE they become big things. Before you haul that load look at the shipper credit rating and days to pay, STAY away from the shippers take 60-90 days to pay stick to the ones who pay within 28-30 remember you are start up and you dont want to wait around to get paid, Join a Load Board Get loaded ITS etc. see if you can get some loads local in your area too, get those recievables into your account then you can spread your wings a little bit more. Theres a great started by Double Yellow "Company driver to O/O" read it all there is almost evrything you need to know in that thread. You can do it its not impossible.
Oh and Insurance is about 3500 down and 1100 per mo. and that is a direct qoute that i just got from Progressive on a 2010 389 Pete.
I hope this helps

 

You are right..... Some people luck out and do it with less but not too often.