motor carrier income possibility

Discussion in 'Ask An Owner Operator' started by dugger, Apr 19, 2019.

  1. dugger

    dugger Bobtail Member

    3
    1
    Apr 19, 2019
    0
    hello guys. hope you're having a good day. I am a company driver at the moment and I have about 35k saved up. I live in southern California. if all willing, I plan on purchasing a used truck and maybe for about a year go owner op and lease onto a decent company to learn "lanes" and in's and out's of owning my own truck. I plan on becoming a MC after that. I had a few questions maybe you guys can help out with. I'm trying to be proactive and learn as much as possible before hand.
    questions
    1. Should I only put 5k down on a truck and make payments and maybe put some money aside for maint and put depending on the truck and what it will need some money into it before i pull a load?

    2. I know this depends on what lane you have and who you work with and ect.. but can some of you break down numbers as a MC expenses and how much you guys net after all gross the truck makes? i'm asking because i have 2 kids and a wife and having a general idea of a range would at least help me make certain decisions financially. For a fact I understand not two peoples numbers will look the same or even close and there are many factos that go into it. just a rough idea of possible NET income not gross and how many miles on that NET per week you need to drive? Can you also specify what kind of trailer you pull? dryvan ect..

    3. any advice on how to prepare from what i hear is normal winter Slow down season in rates right now.. people are freaking out but I spoke to one owner op and he said people just don't understand that rates have always been this way from jan-march.

    4. also what advice to find a good broker? I'm sure just surviving off the load board is gonna lead not down a good path correct? I might see it as a new guy like myself to try and see what brokers are attached to that load and see if i can make some connection.. Any suggestions on this part of trucking?

    5. I know a decent mechanic can go a long way as MC I assume... Do you recommend starting to look from now and what kind of questions should I be asking to find out if they're at least decently honest lol... any tips would be very helpful!

    Anyone that takes time to reply just want to say thank you in advance! thanks.
     
    Last edited: Apr 19, 2019
  2. Jacoooooooo

    Jacoooooooo Light Load Member

    264
    217
    Oct 20, 2013
    0
    Man, to be honest right now freight doesn’t pay enough to start o/p.
    Your friend was right about the sesonality of rates, but it’s halfway thru April and they keep going down.

    I’d go to good paying driver position that keeps you on lanes that let you go back home to your family often... until it picks up again.

    On the other hand it might be a good time to buy a truck, because many owners are leaving... so you may buy it and do any necessary repairs.

    No, $5k is not enough for repairs.

    MC/ DOT # is around $300 if you apply yourself.
     
    Rounded_nut Thanks this.
  3. Gdog66223

    Gdog66223 Road Train Member

    1,529
    1,828
    Dec 30, 2017
    Coal Town
    0
    Look I know your new and you have to start somewhere, and from all the questions you have I can tell you probably have no business credit or business experience, but I could be wrong.

    So let me ask you this question, Are you wanting to be an O/O because everyone else is?
     
  4. dugger

    dugger Bobtail Member

    3
    1
    Apr 19, 2019
    0
    5k as a down payment on a truck not for repairs.. i would have maybe around 20k as for any repairs.
     
  5. Chinatown

    Chinatown Road Train Member

    37,939
    50,384
    Aug 28, 2011
    Henderson, NV & Orient
    0
  6. Midwest Trucker

    Midwest Trucker Road Train Member

    1,198
    2,327
    Aug 31, 2018
    0
    Boy oh boy. It’s a really bad time to become an owner op. However, I no absolutely nothing about your market so maybe someone else can say.

    I will say that people that start during bad times and make it I feel like tend to have more longevity. It’s easier to go from bad to good then start in good times then weather the bad.

    So, who knows maybe it’s the perfect time!
     
    Rounded_nut and Omega1 Thank this.
  7. JonJon78

    JonJon78 Road Train Member

    2,016
    7,580
    Jul 1, 2018
    0
    If I had a good company job with benefits, health insurance, along with a wife and 2 kids at home I personally would not even consider buying a truck.

    Park your company truck at the yard every night and go home and enjoy your wife and children. Without having to worry about the upkeep on a truck that potentially could make you less money than your current company job.


    This is a rat race out here that is only getting worse.
     
    Chinatown Thanks this.
  8. tnevin225

    tnevin225 Heavy Load Member

    805
    959
    Jan 1, 2014
    0
    What JonJon78 said X 1000
     
  9. Omega1

    Omega1 Medium Load Member

    691
    1,481
    Nov 18, 2017
    Oregon
    0
    This is great advice for any business. If you can survive in slow times, you will excell in good times.
     
    Midwest Trucker Thanks this.
  10. Espressolane

    Espressolane Road Train Member

    3,589
    7,779
    Nov 21, 2009
    Just south of the north 40
    0
    Does your current company have lease operators?
     
  • Draft saved Draft deleted