New owner operator

OMG you will not survive.

You are putting the cart before the horse.

First learn all of these things BEFORE you spend a penny on anything.

NOT after.

 

How often do you actually want to get back home? Because if you don’t plan on getting the cheapest load you’ll ever haul coming both out and back into the area west of the Rockies, you’ll need to move out of Idaho. The loads there are ALL heavy and they are ALL cheap.

What areas do you plan to run? What type of freight?

Anyway... I’d recommend a kw W900 2008 or earlier with a well documented platinum overhaul that has no or very few miles on it, and a 53 foot aluminum super light stepdeck.

For finding loads I recommend DAT Power and finding hotshot type loads... like take only part of the trailer and weigh a few thousand to 20k pounds, and haul multiple loads to multiple locations for multiple rates.

Get east of I35 and stay there. Don’t take less than 3 bucks a mile.

 

I think you should start small like me,,.. transitioning from company driver to an owner operator shouldn't be a stressful process, and shouldn't require this much thought and a business plan.. decide what truck you like, i always suggest newer Cascadia, as its a great machine for beginning.. if you have decent credit.. any dealership will make a manageable payment plan to get you to take the truck from them.. try to get a 2015-6 model for about 50-60k... next step,.. do not buy a trailer YET. as trailer is a great asset in transportation.. it loses a little value.. there is no need to rush into it.. you can rent one from any company that you sign up with to haul for them.. next thing I see that you are mentioning load boards.. if you looking to get your own authority and do EVERYTHING yourself .. then load boards should be the least of your worries.. you need to weigh your options.. put on paper pros and cons of being an owner operator leased onto an experienced trucking company versus being independent contractor owner operator with own authority (meaning being a 1 man operation trucking company).. usually experienced trucking companies charge you 12% from gross plus trailer rent and cargo insurance.. and they do all the billing, dispatching, invoicing, safety stuff, ifta, tax prep, in my opinion, since I did it both ways, paying someone 12% is worth it.. reason I say find an experienced trucking company is because they probably have freight year round going all over the country (meaning you can choose where you go and how often you want to get home). do not sign up with some huge corporate trucking as they have forced dispatch, and you are just a number for them.. so if you say no to a load they put you at the end of the line.. it hurts not being appreciated in a trucking company that YOU chose to work with.
baby steps.. get a truck.. find a good company.. rent a trailer from them for a while.. then maybe 6 months down the road if you really like this company you leased on with.. decide to buy a trailer.. don't just buy it and get stuck with payments skipping from company to company..
I hope this helps.. I know I am all over the board with this topic, but I am sure you understand the point I am trying to make here...
Feel free to ask me any questions.. I love helping people reach their goals.. whenever I have free moment I will respond.
GOOD LUCK!

 

Who leases on an OO with no trailer at 12 percent?

 

Pretty much every company I ever leased to. I am leased to one right now, i am not sure if i am allowed to mention company names here...but however..
they charge me 12% from gross. i get a dispatcher assigned and they have operations 24 hrs in case I ever need anything, they offer me loads I can say yes or no, you are allowed to pick... they dont get upset when you say no.. they keep looking because its in their interest to make money, as they get 12%... they do all the invoicing, billing, and payroll, they send me wire every Friday. They take care of all the safety as well. All I need to pay on top of that 12% is a trailer rental $160 per week for a new dry van and Cargo Insurance which is $180 per week. You pay IFTA quarterly, they helped me with plates in April, and also if I ever break down, they help me pay the bill then they deduct it later from my settlement (sometimes they spread it). but yeah I know bunch of good companies that work the same way.. shoot me a private message if you need help finding one. the one i am in right now only works with vans. so if you not into vans then I can recommend some other ones. ... i don't get paid to recruit.. i just like helping people, there are a lot of uninformed truckers out there.. i was one of them once.. best regards!!

 

Why in the hell would anyone pay cargo insurance, it isn't your responsibility as an owner, it is on the carrier's side to take care of that.

 

Share with the class. Who are these elusive companies you speak of? How much are you covered for in cargo insurance?

 

the company i am leased to they have 250k coverage for cargo..
some other companies cover 100k which is minimum but its ok
feel free to email me and i will help whoever needs to find a good place to lease on with..
djohnson6425@gmail.com

 

great question... cargo insurance is between 7 and 18k per year per truck, there are companies that will cover that for owners, but those companies charge 25-35% from gross.. that's a steal in my opinion.. and most of them don't even disclose how they measure that "gross".. believe me, i have seen every possible scenario in trucking.. I worked in trucking companies all my life. on both sides, as administration and as a driver..
the company I work for , they forward me each load rate confirmation from the broker or customer, so I know exactly how much each load pays, and with them taking only 12% from the gross, I am ok paying 180 bucks a week to be covered by their insurance..