My Start at O/O

BINGO.

For more than one reason. The most important one being you need to find out what it is like living in a truck, then you need to figure out what freight is moving (THIS month, next month could be different), then learn what it is going to cost for living expenses on the road (cold sandwiches and fast food get old FAST!!!), then learn how to actually move that truck around in tight little areas and bump a dock, etc, etc, .....

You may get so sick of it after six months that you will curse every time you see a truck.

 

Your idea is sort of a bad way to start read hippo's first thread he started like this. And your going to work 50 weeks out of the year might as well just live out the truck. It's hard for someone with no experience to take a big plunge like this.

 

You're going to do what you want to do, but I hesitate to think that much financing will be made available. The key to deal is to keep debt LOW. The less you pay creditors, the more you pay yourself. The less you borrow the better your chance of making it in my opinion. I think that idea is shared by many here.

Don't make it so hard on yourself from the get-go!

 

I think you should come up with a better gameplan. However, I would like to say that taking a kid on the road is NOT CHILD ABUSE!!!!! I take my kid out with me for 3-4 weeks sometimes, he loves it. I got the pics and video to prove it. I never hear my kid say he misses me when he's in the back of the truck. It will cost you more money to bring your family on the road. As far as all the "quotes" on payments, your payments will be as good as your credit, or as bad. A small business loan will reduce your payments but it's because they will stretched over a longer period of time. Your Insurance will be more because your equipment will be new, and like someone had stated you will have a 500 mile radius, some companies will not give you insurance without experience. Do you know how much it will cost to run? How much per mile will you need to make to cover expnenses? Do you know how to price freight? What will you do if your new truck breaks down, trust me it happens? With the weight of your truck being 20,500 you will be at a disadvantage, unless that includes fuel, don't forget to add trailer weight. I would do some more research before putting up any money if I were you. I don't want to sound negative toward your idea, I hope I don't, just keep looking in to it. I am from the northeast so I know how expensive it is here, I feel your pain.

 

Sounds like a recipie for diaster ....


Dude, go learn OTR in a company truck. It will suck, but its better than risking everything with no practical experience.

OTR is nothing like straight trucks around local.

local a fuel bill might top 700 a week if your workinf HARD, otr you can 4-5x that depending on how hard you run.

so if anything goes pear shaped, debts stack up FAST.

 

I'm not even sure insurance will allow you to take a newborn with you in a big truck. You have NO idea how hard it is on a person to live in a truck. I don't care how big the sleeper is.

I think you're way ahead of yourself. Just go down to the bank and see if they will even consider 300K loan for 10yrs. If they don't..... the rest is just you making our heads spin.

 

Is this a troll thread or are you seriously considering being happy spending 24 hours a day 50 weeks a year in a truck for .17 cents a mile???? I looked at that spread sheet and you are looking at doing all of this for .17 per mile for your profit???????? On top of that it looks like you have grossly underestimated what you are going to be paying in taxes. If you get off with only paying $35 a week in taxes all together with everything including your income tax,social security,self employment taxes and fuel taxes and all of that plus more,please let me know because i want in on that plan. Maybe i am off base on that but i am pretty sure you are underestimating just a tad on that. And it looks like you have a .25 cent fuel surcharge factored in for everything up top, I dont think you can even really plan on that. Sometimes you wont get one at all and sometimes it wont be that much. And it looks as if you are projecting a base rate of .92 per mile???????? You can get that leasing on with a crappy company. To much work involved in what you are doing to not shoot for more than .92 per mile. The answer to all of this seems to me to be start off a heck of a lot smaller than what you are shooting for here.