And so the journey begins.....jumping off the cliff

Thanks Fuller. I have set up my llc. Have a meeting with my cpa next week. I will mention this.

 

Well things are starting to move a bit. Pulling the trigger on a truck I have been eyeballing for a couple months. Out of state truck. Have the flight booked. Will post pics next week. Still haven't decided on buying a refer or renting one. Only thing holding me back from buying, is I plan to switch to open bed freight at some point.

 

Buy a used reefer in the 2006-2010 range. You will be able to get your money back out in a year. Rentals are obscenely high - $1,200-$1,500/month. In a year, your combined rental payments could have paid for the $12-18K reefer you could have bought to start with.

 

it sounds like you got things in order, 20k in reserves after buying a truck outright with weekly settlements and a fuel card you should be just fine. sounds like you have a good head on your shoulders, you would be starting off in a much better position than most.

 

I am leaning towards that. Maybe a month to two months in. I am also looking at using the truck for collateral on a business loan and buying the trailer. The rental is going to run me $800 to $1000, renting it from the company.

 

Thanks Ez. Still going to need a bit of luck. And yes I know of several who have started balls deep in debt. A couple managed to pull it off. With as much money that flows in and out I don't see how but they did.

 

What kind of truck are you looking at? Older?

 

Well I was looking at older than 1999, but I just pulled the trigger on a 2006 Pete 379 with a freshly rebuilt C15 with a 13 speed. I originally had my mind set on something with a Detroit but this one just felt like the right one. Not the best mileage hog, but he was getting close to 6mpg pulling refer. And it falls into my line with getting into flat or stepdeck. Figured my original numbers at 5mpg, as I had planned on going older, so if I can get between 5.5 and 6 I am good to go. Not thrilled about the elogs, but the company I am leasing with has decided if it doesn't get stopped they are going to want everyone on electronic. I can make it work as I have used elog since 2006.

 

Well the truck is payed for. Picking it up Saturday. Sent the bank info on it exploring the business loan, mainly for a trailer. I want to buy a trailer but I also want to make sure I have 20k in reserves.

I was planning on giving notice at my position after the fiscal new yesr(July) but it seems like rates are on the climb snd I'm getting anxious. Had a checkup yesterday to make sure my health is good and that I shouldn't have any issues with my dot coming up. I've got some stuff I have to folllow up on so depending on how that goes next week, I am now thinking I will try to get on the road by the second week of May.

 

Just another really really long story zzzzzzzzzz someone who's skills are being wasted as a truck driver and should be writing short stories.