Remote/Absentee ownership of a trucking operation

I agree but there are still people who see nothing but the dollar signs. If there weren't suckers there couldn't be con men.
We'll give the OP a couple of weeks and if he disappears we'll close the thread. In the mean time, you're right...I wouldn't touch that investment scheme with a ten foot pole. It made me feel good to see how many people figured it out for what it was.

 

Buy 3 houses cheap, fix them up and rent them out. And hold onto them. You can make 2700 a mo on passive income. Make back your investment in less than 5 yrs and double it in 10. Have a real asset. Trucks are not real assets.

 

Just as long as the renters actually pay. With the current climate I wouldn't waste a penny on rental property.

 

I have a friend who does this rental thing. He has 40 houses, and he is always dealing with some small problems with his low-knowledge renters but he has tight requirements to rent for a while and hasn't had the issues with the intelligent renters, he also gives renters breaks on the rent increases if they are on-time and does what they need to do to keep the property up. He claims he makes about $16k a month which I know is possible and is a good return.

 

That’s $400 a house and that’s the minimum profit I’d ever consider .

being a landlord is a gigantic pain in the you know where .

most renters are losers and bums who have no intention of ever paying the rent in full , on time , every month .

I finally got the latest tenants evicted .
You let someone slip by that knows how to game the system and they can stay for 12-14 months without paying any rent , before they finally get tossed out by the people you have to hire to move their belongings out , and you have to pay the sheriffs office to send out a couple of deputy’s while the movers put all the stuff out in the yard .

but usually the deadbeat worthless tenants leave a day or two before the sheriffs office comes , and they take their belongings that are worth taking and leave all the trash and garbage .

the last ones didn’t tell me the pipe at the washing machine was leaking , so the laundry room floor is totally rotted ,
They didn’t tell me the roof started leaking , so there’s damage from that .
And they actually stole the faucet from the kitchen sink .

and trucking isn’t much different
There’s barely enough profit for an owner operator to survive .

there is NOT enough profit for a dispatcher and a driver , and the hired driver will destroy your truck
Just like renters will destroy your house.

I made good money with one truck and the company I was leased on with was always adding O/Os and multi unit operators . so i bought several more trucks and hired drivers .
We paid the drivers a percentage .
33% of the gross revenue to the truck


my wife is an accountant so she did all the books and every one of the hired drivers worked
almost exactly 66% as hard as I did.

and the maintenance and repair costs went thru the roof and half way to the moon .
I’d get 7 years out of a clutch and a hired drive would get maybe 6 months out of it before it was fried and slipping .

same with brakes and tires and windows and everything else .

I just got fed up with it and sold them all , I ran an ad and figured I’d keep one for me , but I sold them all in less than a week , and I just found a regular 9-5 Mon-Fri job .

And hiring drivers , trust me , every good driver already HAS a job .

same as every good chemical engineer and every good plumber etc .
If you’re good at doing what you do , you have people coming to you with job offers , you do not have to go seek them out .

 

I considered renting out a property in the past. Ended up putting a for sale sign on it instead. I don't have the patience to deal with about 90% of the people I meet.

 

https://www.overdriveonline.com/reg...17ecb4bbf811815fed&oly_enc_id=2026G5688890I8G


Another of the same scams caught and busted, from Overdrive Magazine