My journey with Jim Palmer Trucking

Possibly a long update. It's well overdue.

On Nov 27th, the 1 yr anniversary of the new Cascadia, she had approximately 145k miles on her. That's above average imho for a rookie. But I rarely take home time. Working towards my goal, saving all the cash I can while paying off debts, working towards retirement in just 2-3 yrs hopefully.

As I write this now, I'm sitting at a truck stop in Brigham City, Ut, taking a 34 (actually 44 hrs), delivering my load Tues (it's 3am Monday now). Snow is falling, expecting up to 10 inches, so I don't mind the sit too much. I have zero interest in competing with commute traffic on iced snowy roads in Salt Lake City.

It's actually kinda funny maybe. After surviving my first winter last year, I'm actually a little more intimidated by snowy roads. Probably because I now know how lucky I was last year to survive incident free through Mt, Id, Or, Wy, Wa, and NorCal. People, including super truckers drive effing stupid in snow and ice.

So, Last year I took a total of roughly 15 days of home time. My choice. I signed a lease on my truck in mid May. This substantially increased my income. They pay 70% of the linehaul and 100% of the fuel surcharge. I created my LLC also. I haven't received my tax docs, 1099 and W2 from the company yet. They'll be sitting in my PO Box whenever I make a pass through Las Vegas. But my close estimate for income for the year, is approx. $85,000.00. This is settlement totals, before per diem, which is worth roughly a $20k reduction in tax liability. And of course any cash expense deductions I claim.

I would say that's pretty #### good for a rookie, and considering 4.5 months of the income was as a company employee. My rough net, pre tax and per diem was approx. $0.68 cpm on the lease period. For solo drivers, I was near the top for revenue on the regional side.

Now I'm working on cost per mile. Watching my fuel consumption and purchasing, tracking my mileage, I'm trying to gain better mpg. I know winter lowers the mpg, but I don't know how much. During summer I avg over 8mpg, but the last 60 days I'm sitting around 7.5 mpg. I keep my speed down to 59-62, only doing the max governed 65 mph when I need to make time. I'm also researching ways to lower fuel costs.

It hasn't been all roses. Maybe it's part of the business I need to learn and understand better, but late 4th quarter thru most of January has been lower income than I want. My revenue has been low to say the least. Getting loads that take 2 days to make, but are on 3-4 day schedules and not allowed to drop at a yard. I've been told by some folks, it's not unusual for this time of the year. So I guess I need to just accept and look forward to the pick up in business. I've given my FM a hard time about these loads, but it's hard to say it's really his fault too. He doesn't get to actually pick the loads.

I thought about it for a while, and adopted a dog. I wouldn't recommend the breed for the trucking lifestyle, Belgian Malinois. But he ended up being a rescue at one of our drop yards. A puppy at 13.5 months when I got him. Super intelligent dog, had a little bit of training, but they are hugely active and need LOTS of time to exercise. Multiple stops at rest stops to pee, poop, and burn some energy every day. As well as before starting and after stopping for the day. But he's a great dog. I'm very happy with him and he keeps me a little more energized and certainly forces me to be less selfish or lazy!

FOOD. Omg food sucks otr mostly. So many chain truck stops have the most unhealthy dog #### fast food in the world. I'm not a health nut by any means. But I'm trying to eat half way reasonable. I've actually lost 20 lbs, and I was just a bit under 200lbs when I started this adventure. I could still stand to lose another 15. I bought a instapot like fast cooker, and do a little cooking. Normally just a stew that I can eat for 3-4 days. But it takes up floor space when in use, so I don't use it enough honestly. It's a treat when I can bobtail to a real restaurant while waiting on a load and eat a real meal, or even a healthy meal like fish and vegetables. I've got the best taco trucks on the I5 corridor wired though! And while expensive, there's often Ubereats, Doordash, or Postmates and Grubhub available for delivery of decent food.

I have looked at other companies. Mostly during my frustrations during lower income periods. But for the most part, when I speak to them, they are not a good fit . Often times offering much less pay than what I make on the lease, and the companies that lease offering horrible leasing programs. While the Wilson Logistics lease (Jim Palmer Trucking) is expensive on the weekly payment and total cost of truck, the income is there. No need to deal with brokers or load boards, fuel surcharges etc. Also having a dog, many don't allow dogs or make you pay a fee upwards of $500.00 to bring your dog. I don't see myself changing companies. Unless it gets really bad and I don't think that's going to happen.

IMHO and rookie experience, I think Jim Palmer, Wilson Logistics is a very good company to work for. I've also met numerous drivers with many years of experience that have come here. If you're thinking about coming here, I don't think it's a bad choice. Especially for the western regional division. Forty eight state refer I know nothing about.

 

Taxes done.

For my 1st calendar year, company driver through early May, lease op for the rest of the year.

Before final tax deductions like per diem and the standard deduction, I took home $83k.

Per diem deduction is brings it down to sixty some thousand. Then standard deductions and such made a taxable of forty something.

For 2019 I paid off over 20k in debts and still put money in the bank. Car is now paid for and I'm debt free.

I would say it's been very beneficial so far.

 

Yup, plus 100% of fuel surcharge.

I'm staying busy. Some of the contract accounts pay really well. Others so so, but get you near the good stuff.

I've taken home 4k this month and next week will be over $2k.

Yes, I've had bad weeks. But usually it was because of days off for a repair, or a 34, or highway shutdown.

Overall, I'm doing well leasing here. The Corona gonna hurt us sooner or later, but the contract freight helps.

 

Any lease with these companies you will way overpay for the truck. So if you want to do it to buy a truck it's not the best way to go.

But if you want to make 75+ and are willing to work your ### off for it, not taking 3 days off every 3 or 4 weeks, then yes, it's a good lease.

I likely won't run the lease out to the end and get the truck. Saving money and getting to retirement in the Philippines is my priority. If all goes well, I've got less than 2 yrs to go.

 

Your dm sends you preplan and linehaul & fuel surcharge. You can reject. Some people never reject. But I do on occasion. From what I've found, it's about working with your DM and them getting to know you and how you run.

I've got my cost per mile down to $0.80 cpm thanks to the low fuel prices the last couple months. I've taken a couple horrible paying loads. But they got me to the good stuff. Gotta learn our lanes a little bit.

I actually want to see higher fuel prices. I can show profit in fuel surcharge income with higher prices and the greater discounts at Love's.

Hope this helps. Feel free to ask me more if you need.