New CDL holder and No Experience, wanting to go Owner Operator

Hello,
I am just got my CDL and started working for a company for the past 2 MONTHS. Now I'm looking to become an Owner Operator and I have very little or no knowledge about this industry at all. As a beginner with no experience can you suggest any tips. Like;
1. Choosing a company to operate with as an owner operator.
2. Expenses to consider?
3. Paperwork and other details?
4. Used truck or new truck to consider?

 

www.OOIDA.com is a website for the owner-operator.
All your questions can be answered there.

 

Stay put, do research, save money for AT LEAST 1 year. What would you think if I said "I was going to buy a lottery ticket, but I think I'll open a casino instead."

Becoming an Owner-Op before you have worked through winters & summers, found customers, etc is how the companies renting you a truck make their money.

 

Stay right where you at in Company driver work. First crawl, walk before you try to run as a O/O.

You need years of learning, and maybe a little bit of luck. Not all If you became a O/O you would have to arrange for drug testing, taxes, repairs, fuel etc. everything. Even I would not want to do it and I have gotten pretty familiar with it.

 

you do realize that being an O/O, is running a business and working it at the same time?

 

If you were a baker would you open a bakery in two months from learning how to bake a cake? Give it time and learn the industry. Unless you are independently wealthy the fail rate is incredible and if you have plenty of cash to buy a truck and start your business then the fail rate is also incredible but at the end you will have lost your leverage. Let it grow in an IRA for five or six years then maybe with enough experience you will be ready to look at it for real. Just an opinion.

 

He can't be serious.

 

Forget your list... All it takes is cash

 

Have a much better solution for you. First, don’t quit your current job. Your going to need it.

Send me $2371.39 every week. Cash only.
If not paid in full each week, you can make it up next week, there will be a late charge and interest on the amount owed.

 

Put all the money u saved up to be a owner op. Take that money and put it in a Index fund in the stock market.. Grow ur money 15 percent year over year the rest of ur life... Its a boring way to make money , but the profit margins in trucking first couple years as an owner op is so thin, if u do not have a large amount of capital to start with, u will sink faster than the titanic...not saying u shouldnt do it, but there is easier ways to make money , imo