How much do I need to start as an owner operator?

used trucks prices are through the roof right now, and new trucks are scarce

 

And that's when 100 mil was considered a lot of money. Personally, if I was to do it today, I'd put everything I could on credit and when it goes south, "Happily Retired" no longer exists,,,say hello to Miquel Sanchez,,

 

Would a hotshot setup work better with 20k starting? I guess I would put the truck on a business loan.
Or just getting a big class b box truck and running hotshot with that. I'd probably never be over on the scales.

 

Take the 20k to Las Vegas, or buy lottery tickets.

 

Truthfully, what ever number you come up with, try to double it.

I started with $25k cash a year and half ago. Bought a preemission truck for about half of that. I was green as green can be. Needed things right off the bat and chewed through the remainder of my funds before I even got started.

On top of the 25k i saved, I made sure I secured access to nearly $60k of readily available, very low interest, unsecured loans. The plan was to be able to quickly purchase equipment as it became available and realized exactly what I needed. But, an inframe, rebuilt diffs. and a slew of other things ripped into that pretty quick.

Luckily, I made sure I was atleast twice as prepared as I thought I needed to be, because after all that, everything that could go wrong did.

Through my preparedness…and luck (mostly the fact that rates have been great), 10 months in and I owed absolutely no one absolutely no money and have been stacking coin and taking many days off to be with my family.

When I started last June, I kept in touch with 4 others that I met in orientation, and 2 drivers I met that were already here. 2 from orientation sold their trucks and went back company, and one of the drivers I talked to fell off the face of the earth, but he was well on his way to failure at a time when rates are as good as they’ve ever been.

You can never over prepare. Be ready.

 

20k should be enough if you use credit to buy a truck and trailer, open deck will cost more than dry van or reefer. Power only with Amazon for example is one of the cheapest startup. Local dirt work is not as easy to get in, not due to cost but connections and knowledge.

 

I have a question: How much money do you expect to make in your first year as an owner op?

 

I would range it from 30k to 70k.

 

You would want to be an owner op for $30k? That’s worse than just about every company schmuck job.

“Only while I’m learning the ropes, Six. Once I figure out what I’m doing, I would make more.”

Right. It would pay you $20k more MINIMUM, to learn in someone else’s truck. That would go a long way in startup money. But, you do you. I don’t have a dog in this fight.

Luck in battle.

 

Has anyone financed a brand new truck here as a first time oo through a dealership?