Finally got my own truck

Those are words from someone that has learned a lesson only time and experience can teach.

 

I was making predictions for 2019 as far back as July or August of 2018. I made posts about it here on TTR. All these rookies buying trucks and trying to cash in on our success and the glut of good rates.

Market will only bare so much before it will turn the other way. I saw it coming. I held out for as long as I could. But once you taste good money,.. you never want to go backwards.

Hurst

 

I started the ball rolling on getting back into trucking in 17 - there were multiple reasons as to why I had to wait, but as I watched the rates, I figured I would get my truck on the road at the tail end of things. Yes, I missed the gold of 18, but I'm still making respectable money and love my job. Two things I can't say about the previous 7 years where I scraped by and despised most days.

 

There is a lot of people who bought after the crash who thought they were getting a good deal at half value.

Than it went down some more. Yea it recovered now in SW Florida where I lived. But it took 8 years.

Me and my wife were real estate appraiser s in Sw Florida during the crash. It was Epic to witness after watching whole blocks of condos being bid because people were in a buying frenzy.

My crummy house a mile from the beach I paid 140 for and dumped 20 and my labor into sold for 450.

Bank auctioned it off to a buddy we knew for 105 after the crash.

There are people that would have coughed up 250 and thought they stole the property.

 

I've been taking a few classes. There is still a lot of things I dont know or just not sure about.

I want to try some of the auctions eventually,.. but I am not ready for that just yet. See how much cash I can build up after flipping a few fixer uppers.

Hurst

 

Don’t get Greedy. And don’t get into deep. One my good buddies who also was a real estate appraiser had 7 houses when the crash hit. Wiped him out.

I
Don’t think we will ever see another crash like that because the way the banks changed.

But a drastic slow in the economy along with higher interest rates will disqualify a lot of people from buying.

We just sold my past dads strip mall in Naples. Got top dollar for it because people with cash are aching to buy something that will give them better than a 5% return.

But it’s a older building we built and maintained the last 30 years we know what it needs.

My nephew manages the 100,000 sqft mall for the new owners my brothers built and used to own .

Demographics changed it was time to take the money and run.

Problem is where to put it

 

I got back into trucking back in 2011. I struggled the first few years. Paid my dues in spades just to get past the initial mandatory experience period.

2017 was good for me and 2018 was my best ever. But once Nov hit and I saw rates taking a nose dive. Even regular customers who called on me regularly with lists turned their back on me for cheaper trucks who were under cutting everyone.

I had to make a choice,.. use my cash reserves to weather out the coming storms and hope I survive or take what I had and reinvest into something new. No risk,.. no rewards. Business is business. Nothing is guaranteed. I'm currently in debt up to my balding skull cap. I'll know more in 2 - 3 months time if I made the right choice.

I just got burnt out on being away from home all the time. Thats the main reason I quit. I was looking for an out and the current rates helped make that decision easier for me.

Hurst

 

I know of a couple guys that went from 1-2 trucks to 8-10 and now they have 2-3 trucks and trailers up for sale. A guy up the road from me started his authority 2/17. He’s trying to sale out.

 

Agree,.. the house I just renovated was in a good location in Trinity. Close to the new Wiregrass mall,.. schools and 10 mins from I75. It should sell quick (I hope). I paid $61k for it,.. I just had it appraised at $170k. I'm into it for $100k,.. hoping it sells in the $150 - $160+ range.

If this one goes well I already have another one I want to make an offer on. The duplexes are self sufficient and baring any unforeseen acts of God I could retire now and just live modestly from them. I put almost all the cash I had into them.

Greed is what pushed me into buying the fixer upper. It seemed like the right move. I guess I'll find out and see how long I have to sit on it.

Hurst

 

I can see hurst position clearly. That’s why I run local and do well. I’m home every night. Some days I stay home, and some weekends I work. The broker works with me as I work with him when there extremely busy. I have a few back up plans(brokers I use) if one gets to slow. I know I’m never gonna get rich nor probably retire any time soon. When I stay home for a long period, I get lazy and don’t do anything, so working is a must for me, even as I get older but not work as much. I love my work and can’t see quite yet doing anything else, perhaps because I don’t like working around back stabbing individuals. I prefer to work alone and get my job done properly without the micro management. That’s just me. Goodluck on your new adventures Hurst.