Thinking about becoming an o/o

If you are in that good of shape you might be ok. But don't get greedy and buy more trucks. I had 10. It's a pain keeping drivers. Don't borrow money on your house. The old joke about how do you make make a million in the trucking start out with 2 million is true. It's a tough life I bought my first truck in 1968. Not a great life for me. Lots of missed birthdays, anniversaries, Christmas's, Thanksgivings. I want more of that. Not I'm missing that right. Make a life if you do it be with wife and kids.

 

Probably one of the better positions to start from - prior experience, zero debt, cash equipment.

Both @staceydude and @zmster2033 went own authority with NO prior CDL experience and did just fine.

I say go forth.

 

It is very doable when you have zero debt. I was in a similar position as you. I had been furloughed however and I realized after working for a company the same company essentially since 1998 that I was quite expendable. I was going to get a company job and my wife said hellllll nawwww. if you are going to drive you are going to buy your own truck. I made a little post and some said you can do it and others said naw you aint got what it takes lol. @blairandgretchen offered to help mentor me and I am forever indebted to the man and his lovely wife Gretchen. real golden folks.

I think someone already said it is an interesting truck market right now... that is true. some trucks are selling double what they would have 1 year ago. there are still deals popping up though. one of the problems though is they sell fast and some sellers are not willing to wait on oil samples, or dyno runs etc. because others are throwing cash around and away.
So join a bunch of the Facebook for sell groups and be ready.

Trailer may be a bit more also depending oil what you haul. Dry Vans are getting snatched up and quick as well so be on the lookout for a good one without overpaying.

Make sure you get a quote for insurance for the state you will reside in. locations makes a big diff.

plan on some things taking much longer than you thought they would as far as IFTA, IRP etc. maybe things have sped up but when I started it was snails pace. it took months to get IFTA.

Here is a quick general run down on my junk.

I bought my truck for approx $35k 94 Pete 379 (Cash) (I wanted older non emissions truck) it was from an owner op on this board @Diesel Dave truck. he had the truck I believe 13 years. Oil samples on this truck are clean as a whistle. It was a Southern California truck so literally zero corrosion/rust on frame and body. I appreciate that on days I am under there doing stuff. I have put some money into it but most of it has been me fixing small things like air leak here and there, air compressor, air cryer, etc. shocks, air bag or two over time etc. nothing major. biggest thing truck needs right now is a paint job. I am working on that. I want to show pride in my ride and I do wash it often however it has peeling clear coat and it is eating me alive lolol. I was an aircraft mechanic/tech instructor and then a pilot training instructor since I was 17 years old (55 years old now) so I have mechanical experience but not on big trucks. there are a ton of resources out there and with some digging you find out more and more. just make sure when you and your bro are working on things you are right there with him learning. don't be scared on an older truck. a 94 379 isn't much different than a 2007 379. it is however way different than a 2010 international pro star. I would personally not turn my nose up at any of the older internationals out there 9400s, 9900s etc can be found at great deal, KW, Freightliners, Petes etc. do remember you'll spend plenty of time alone in it so get something you will enjoy. my whole thing with the 379 is there are parts plentiful, I love the truck and I feel what I put in Ill get out. I am big on return on investment, however for what I have made with this truck and trailer combo has more than paid for itself and the insurance etc. So as @Old Man said in a thread a day or two ago... I will ride this horse until the government puts her down lol.

53' Flat with brand new tires from @blairandgretchen $25k (Cash) had a ton of goodies Blair threw in, bunch of straps, chains and binders, coil mats, dunnage.

My insurance was quite a bit more than yours, they quoted $23k I said cash and the price dropped to $19K so insurance was $19k

I filed for own authority which is what $300. @zmster2033 spent hours on the phone with me helping answer questions I had.

LLC in Texas was $300 also

A lot of the other misc BS will add up.

You may have some people think you need years of experience to be an O/O and no doubt it would help, really just doing it and taking it a step at a time is all it takes. Like I said I worked on Aircraft for years and years and I would have a kid show up who went to a tech school and never had hands on experience where mine was earned the hard way in the military on ships at sea and ashore and some would jump right in and get it and others would be complete fools. It is all in the person who is doing it. I am humble enough to ask for advice and I have needed it quite a few times, without the help of @blairandgretchen I have no idea if I would have the guts to jump out and do this. He has been an awesome help and friend to me.

Now here is the kicker and why I am glad I paid cash for everything. After my authority went active and I had the truck here and was going to get the trailer my wife went up to Chicago to visit my nephews and niece. I was literally on my way home with the trailer when I got a call. My wife was in the ICU in Chicago. She has Addisons Disease and the flight up to Chicago knocked her for a loop. She spent days in the ICU. I drove the truck and trailer back home and jumped in car and drove up to Chicago and waited for her to be well enough to drive her home. She can no longer fly as it affects her to much. Since that event she has been to the emergency room multiple times. She can be fine one day and literally can barely walk the next. Addisons is an adrenal deficiency and affects different people different ways. She was diagnosed in 2006 and has done great up until this last year. So I had to kind of modify how and wanted to run. I literally look for a really good paying load, head out, and start looking for a load home, often picking one or two up per trip. ill spend anywhere from 4 - 8 days out and then maybe an entire week at home then rinse and repeat. The longest I have been gone has been 10 days. I posted this a few days ago in someone else's thread... My best trip was approx $12k+ and my worse trip was about $4500ish. My average is about $7-9K
Ive been home far more this year than gone because of my wives health. However we are doing well. we have a very small house payment and 1 vehicle payment. no credit card debt (although I use a business credit card and pay it each month) or anything else we owe on. So we don't have to stress over every nickel and dime.
I have had one or two months where I was home for 3 weeks and gone but one. Still made money. I remember very early on I was stuck at home in between an air compressor change and the huge ice storm in Texas and I could not get any parts because all the cat dealers were closed. literally about 3 weeks of downtime. I was speaking with Blair on the phone one day and told him I feel like I am losing money every day I am home. Like a wise man he said no your not... I had to deal with that myself when I went out on my own. I had to realize on that on those days I am not losing any money. I am just not making any money. When you don't have a $3k truck payment and an $800 trailer payment and are up to your eyeballs in other bills then it all piles up and people get freaked out. Anyhow, imagine if I had to work for any company out there and my wife got sick. you think after the fifth or sixth time they would understand? it is #### good to lead your own path in the world. it feels really good when that big check rolls in and you look at your biggest expense (fuel) and it is covered because you made some wise decisions.

Anyhow, enough rambling. This board is a great resource if you plan on doing flatbed the flatbed group on here is full of phenomenal folks. if you post a pic and your securement is messed up they will tell you. if it is good they will tell you. need advice they will help you as long as you are not a knucklehead.

I reckon I should note that my Authority went active a bit over a year ago on Sep 4th, by the time I got my IFTA etc and my wife was stable I didn't haul a load until early Dec. but I made it a full year so far and aint looking back.

Good luck.

 

Yeah but how about the other 27 who did the same thing and failed?

 

or the 27 that made it just fine, you have to have a decent business head to start with. I see too many folks that try this and fail because they either don't keep up with their taxes or they don't put money back for maintenance etc.... but their wives are riding around in the newest vehicles and eating out at the fanciest restaurants.

 

Well we still have a very high failure rate, just look at the number of repos.

 

If there are repos then those people didn’t do what the op is talking about doing.

 

That’s true. Maybe I’m slightly optimistic. I’ve learned to get a rough idea from a post on here, as to whether or not it’s going to pan out or not.

I just get a feeling this guy will be ok with some focus and drive.

 

And quit telling lies about me @staceydude

 

Unless you are going to have several trucks don't waste the money on your own authority. Sign on with someone.