Thinking about doing it again.

Discussion in 'Ask An Owner Operator' started by BJnobear, Feb 17, 2020.

  1. BJnobear

    BJnobear Heavy Load Member

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    Aug 24, 2010
    PCB, FL
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    This time as an O/O. Not married, no kids, no bills.

    Questions
    1. New Truck or Used (250k or less mileage)
    2. New reefer or Used (TK, Carrier, What do you consider acceptable hours)
    3. APU TK or Carrier?
    4. MCC and Broker? Or lease-on on to carrier?
    5. How much cash on hand?
    6. Best place to get financing? Or sell the house and buy it up front?
    7. How much should I have in a maintenance/tire account?
    8. Factoring?
    9. ELD cost?
    10. Anything else to add to the equation?

    I plan to drive 48 OTR, and shoot for most efficient fuel economy. Not sure about what tracking app to use, I will have a PC in the truck and every app I have seen is for phones and tablets. Help me identify everything so I can get the costs of startup and the first month or two to balance.

    Thanks all!
     
    rachi Thanks this.
  2. spyder7723

    spyder7723 Road Train Member

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    sarasota, fl
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    Based on this post you are not even close to being ready to have a shot at being successful in the o/o game. Go do some real research. Your checking account will thank you.
     
  3. Socal Xpress

    Socal Xpress Road Train Member

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    Dec 6, 2014
    Los Angeles, Ca
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    Almost 10 years on this message board. Awesome thread!!!! Looking foward to more of your posts!!
     
  4. PE_Trans

    PE_Trans Road Train Member

    Have you ever been a contractor? If no, you want to start by getting into a lease-only program at a mega company. Take it as a free trial. If you can’t make it, then chances are you won’t make it further up the ladder. You also want to keep in mind that a financial recession is around the corner. However, if you start at a mega, chances are it won’t affect you much.

    If you lease, and you’re profitable, then continue on to the next step, which is to buy a truck. Eventually you may want to move to a motor carrier with a better pay package or perhaps get your own authority, especially if you want to build a fleet.
     
    rachi Thanks this.
  5. BJnobear

    BJnobear Heavy Load Member

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    Aug 24, 2010
    PCB, FL
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    Used to run for JCT. Not feeling the mega thing.
     
  6. PE_Trans

    PE_Trans Road Train Member

    Were you profitable? Having your own authority, won’t necessarily translate to more income. To some people, it does, but to others, not really. You can read all their stories here. Personally, getting your own authority makes more sense if you’re planning to build a fleet. Yes, you can do it for the freedom, but freedom will come at a cost, usually meaning more work and responsibility.
     
  7. BJnobear

    BJnobear Heavy Load Member

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    Aug 24, 2010
    PCB, FL
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    No plans to build a fleet at this time, and yes I was in profit at JCT.
     
  8. PE_Trans

    PE_Trans Road Train Member

    If success as an owner operator could be put in a nutshell, I would say: money, knowledge, hard work, perseverance, and never-ending education.
     
  9. theSoz

    theSoz Light Load Member

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    Jan 24, 2020
    Florida
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    You've said you've done this before and were profitable at JCT, so what happened to that? If you truly were successful and have done this before, than you should have many of the answers to your own questions.
     
    spyder7723 Thanks this.
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