O.K. : Here's The PLAN !

The OP says He has no bills to speak of, and no family to support. Unless He is a habitual Gambler, or a slave to some other money sucking vice. He will make it. Even if sometimes making less money, as a Company Driver. I started with literally nothing but a prayer, already deep in dept with a house pymt, Car pymt and all the other bills that come with raising a family. A lot of people told Me not to do it. Too Risky!! No regrets

 

Not in owning 1 that's for sure. You do get payment in other forms but in cash. It is possible to make as much driving one for someone after all is said and done. Is it worth it?

You make the call and time will tell.

 

I think i only had maybe 1k when i headed out if waited around like everyone is suggesting id still be waiting.

 

The negative responses are over whelming. To the OP I say go for it. Start making a short list of companies you wish to lease onto. Take everything in consideration not just the per mile or percentage. Start on day 1 saving, saving, saving up a escrow/ maint fund. All the companies I know of will take care of your plates, permits and insurance (they get pay and charge you back over time) Or you can pay upfront. Biggest problem I see is picking the right company. And you pretty light on down payment for a decent truck.

 

OO's would have gone extinct years ago if all the doom and gloom was listened to.
A lot of them do go belly up, mostly they shouldn't have been in business for themselves to start with.
Nobody gets rich, well at least very few ever did, but many started with nothing and ended up sitting pretty nice in the grand scheme of things.
It is true that a company driver can come out with as much money as some owner operators, but to even think about competing money wise with a good operator, you would be living in a truck 24/7 and no other life to speak of.
It is true the OP doesn't have enough funds to guarantee his success, but no amount will either, it depends mostly on the person, and if he starts with the funds he is talking about, it will be a lot more than a lot of successful folks started with.
If he leases on to a decent company he will have a settlement within a week or less of picking up his first load. Having a huge nest egg is nice, but not a deal breaker either.

If a guy really wants to go for it, I say do a lot of research and go for it, just don't look back when the bad days show up, keep looking forward.

 

Your telling me you started with 50 k after you bought your truck?

 

No they started the same way as the OP. There just telling what they WISH they had when they started.
I no I started out broke, was on unemployment. Rent and every other bill was late. I had to borrow gas money to the moving company office. Then had to sleep in my car cause the truck I was buying (they didnt do lease purchase back then) was in the shop. Took the $100 fuel money and put $50 in. Slept at the job site for 2 days, in that cab over with no NOTHING! That way I had enough fuel to get back to office. So I could eat and buy smoked. (They didnt give out advances till the truck was loaded) 5 trucks and 27 years later no one can tell me you cant make it on a shoe string budget.

 

No I didn't, but fuel was $1 a gallon. I was 23 in 1994 and single living with my now wife in a $150 month apartment and owed nobody nothing. I didn't even have a credit card or credit. My then girlfriend fed me and paid the rent. My first truck and trailer cost $10,500 for the whole outfit and it came with chains and binder with sidekit. I bought the same international cabover with the same engine and tranny and tire size as my Dad. He loaned me $2500 and co-signed a loan. It blew up in 1 and half weeks after I started. I made just enough money to buy fuel and parts to overhaul it ($2500) in my Dads garage with a little help from his neighbor that was a certified Cummins mech. If it wasn't for my Dad already being an O\O for 20 years, buying me a couple tires along the way, him having a garage, tools, parking and knowledge, me being around the biz all my life and already able to wrench,change tires brakes oil grease and do the labor of overhaul with instructions from mechanic. I would not have made it. I was\am proud and won't ask nobody for anything or any help just like my Dad. When my Dad help with a couple tires it was just doing it cause he seen how hard I was trying not because I asked. I struggled a lot, almost lost half dozen times. I went, and waited, and did a lot of things I didn't want to do because I had to.I took a LOT of risks and I mean a lot. If I would have been caught doing most of the stuff I done it would have been game over on the spot.

Today fuel is $3 and an overhaul is At least $15,000 which is more than I paid for my first outfit.
If OP has a place and tools to do his own work he might make it. If he doesn't, then the odds aren't good.
If he does it, I wish him all the best luck and hope he makes it. I would wait till I had more money if I was him though. After 25 years I can tell you it's all about work ethic (never turn down work), money management and the ability to save, and some luck.

 

GREAT POST!! We all have a story and most are interesting. Ya I can think back and remember almost failing. Doing crazy stuff and taking outrageous sometimes illegal stuff.
But somebody (usually not family) sometimes a stranger, some times my company. Would step in and give a hand.

Back then the old timers would listen, (but mostly talk) give advise, and they all had a "secret" trick to share if you promised not to tell.

If you got 3 or more old timers at the liars counter or a bar. Then asked a what's the best way, or how do you no when question.
Suddenly your money was no good.

The old timers would launch into a, you dont no #### with each other. Next came the "Young blood/little bro the best way to (fill in the blank) is.
By the end of that conversation IF you listened. You not only ate and drank for free. You just learned 6 different ways to do what you asked about.
Often 2 or 3 of them would drive out to the job next day. Then TAKE OVER your job, turn you into a lumber/student. They would argue and carry on, all the while. Barking orders at you as they loaded your trailer.
(At least that's how it was on the moving business) sorry for high jacking the post. Some times I get on a rant.

 

Wow
Thank you very much for being honest with me. And give your self a pat on the back for me