Need advice, buy a truck or buy into hot shotting

I am not going to post something that makes you feel good or may not want to hear, but here is the reality

RIGHT NOW is the worst time to move into being an owner/operator unless you have a source of work - load boards are not a source of work.

If you work in the oil fields, I would go around and see who will give you work, you are in the best location to do this, and you already have experience; you should have some contacts to talk to. If you stick to doing one thing and do it well, then you will make it, but if you expect to make more than a driver and depend on load boards, go back to hauling sand.

About the truck, it depends, $25k won't buy you a great truck, but one that WILL need work, and if your reserve is at least $50k, you can finance the truck THEN fix the serious problems that you find with a dyno/blowby test, OA, and so on.

If you can't expect to buy this like a car, you will have a disaster.

What I recommend depends on what you are going to haul. Once you figure that out and you start lining up work, then start looking for a truck.

As for the pre-emissions, it doesn't matter; all of the $25k trucks are going to have the same problems.

 

Have you tried to haul crude, or even water? Sand is much harder work and the returns aren't nearly as great. I used get paid hourly but if you can hustle, getting paid by the load is better, only if your not sitting a lot and that's the thing you do sit sometimes for hours on end your make more in oilfield as a company then likely take home in your first year as a O/O and you will likely be in the red. The other thing is the midland area bunch of idiot drivers, you business could go to a halt with one accident, but you still have to make a payment regardless.

 

If your getting paid % then you can figure out the the boss it getting paid for a load or a week. Because he’s giving you 20% of the load or what ever it is. Once you have that numbe you start adding everything you know he has pay for every week. How much was fuel if he buying it at local truck stop. Did you have to replace any tires this week or month or any truck repairs. Did he have loads cancel on him. How many miles did the truck run every day and week or month. You basically see how much it is for him to run the truck.

something to think about if your not making a lot of money and get paid % the boss is probably not making much money also unless he’s fudging the numbers and tell you he not get what he says he is.

I had my own truck on at Landstar many years go. It was not easy to make much more then a company drive plus I was doing everything myself. I was the dispatcher and had to get truck repairs paid for and buy the tires and but the fuel and lean about the road tax and how it was cheaper or better deal to buy fuel on some stave vs another because they did not give all your fuel tax money back.

Landstar was good when they had lots of loads because we picked load and destination and the pay. Because we as drivers had the power or advantage. When freight was slow Landstar sucked because they had nothing but cheap freight and I thought I could allow out run other driver by staying out longer like I did as company driver since I enjoyed it. I was wrong drivers can get so desperate for loads it almost impossible to win. I would drive slower for better MPG so I could operate the truck cheaper to try keeping more money for myself.

Im back driving a company truck I’ll let them worry about the truck repairs and payments and everything. When I had my own truck you go home and your always thinking about that next repair you know you already need or your looking for the next load. Driving company truck you go home turn the key off and only that it.

if you not making enough money as company driver that a problem, but you can look around for better paying jobs if they are available.

I would think the oil field work would be tough now because of last president and they basically stop so much of that vs the current president might help bring it back but the president is dealing with other stuff vs back when the oil fields were going boom back in the day.

 

Trucking has changed a ton, even since I bought my first truck in 2011. Knowing what I know now, if I were in your shoes as a 30 year old, I’d get my endorsements and while I was sticking it out hauling sand for another 7 months I’d be looking at what’s available for hazmat jobs. Or maybe even what’s available in places you’d want to move to. Then I’d settle in to a well paying hazmat job with full benefits, and make good cobtributions to your retirement, don’t spend all your money on toys, and by the time you’re 60 or so you can call it quits while being a multi-millionaire.

 

Specialize, I recommend if you land a good company like hauling fuel, I am gonna tell you is gonna be hard get in the door but the pay is good. Loves is the go to company I am told for fuel, but you're likely to have to go somewhere else to start fuel hauling. They are very picky, and you don't lower your standards when you a company everyone wants in like Walmart or Love's. Also, there is nothing wrong with the oil field if you find the right company, they give you plenty of work

 

Loves is a good company but not the top of the chain as far as pay goes.

 

No, no listen this guy.

You come work for me in chicago.

I give you most excellent truck.

You make lot of money.

You come chicago. Work for me and my east europe family.

We treat you good.

 

Who are you going to work for with this truck, the people that lied about company driver pay?

IMO, it is beyond foolish to buy a truck and work for the company deciding what freight you haul. It's like going to McDs for lunch and deciding instead to buy a restaurant. You likely have no idea what you are walking into but you think if you put more of your money at risk then MAYBE the payoff will be bigger than the low pay you are now getting. Most lease agreements obligate you to pay for expenses of operating the truck and ONLY SUGGEST the company you will haul for MIGHT give you work. They ARE NOT OBLIGATED to give you enough work to pay the bills you are obligate to pay. Imagine a casino selling you one of their slot machines but having full control of everything around the machine while you pay for all costs?

IMO, if your goal is to actually own your truck and a business you should work for an already operating owner-op with an established client base and learn how it is actually done, not just how it might be done if everyone is telling the truth and everything goes just the way you hope.