Total NOOB question

I do not plan to drive the truck when he is not around, I realize that I can't drive for the carrier as they are a specialized HAZMAT carrier that I have no experience with. Also, he is kind of anomaly in the trucking world. He HATES being home, he prefers to be on the road. He lives in his truck 30 days (or more) at a time and runs from about any terminal on the East coast. He can live on $100 / week and wants to bank the money for buying land in SC when he is older.

As far as truck goes, he has a specific model, motor, trans and years that he wants, for very specific reasons (efficiency is a big part of it) as he has calculated the cost of running this specific truck.

Lastly, HE was the one who agreed to split accesorial fees. I do realize that this is a highly regulated industry and it is a challenge to me to get up to speed.

I am interested to see what people think of the actual numbers that I have posted, these were straight from a settlement with this line.

Thanks for everything so far, my butt hurts a bit, but (excuse the pun) in the end (another one), hopefully it can work out.

Thanks again,

 

No tolls or turnpikes, all southern runs. As for miles, I am not sure, the loads are not per / mile but a set rate / load. he picks the loads he wants and goes from there, Like I said, he doesn't like being at home, he runs out of Florida all up and down the East coast, usually Savannah, GA or Charleston, SC.

 

To answer your questions;

• Those number were from actual settlement reports from the company, not numbers from my driver. I have actual settlement slips with YTD in the 129,000 range (Gross).
  
• He has not been in a truck in a year or so as he came home from a run and found his wife in bed with another guy and she had trashed his credit. So no finance of trucks except the "buy here, pay here" which is a terrible plan.
  
• My ROI is not super high, but if we play cards right, it will be positive. I am hoping for a higher than 5% return as that is not worth doing really. However, this is not my primary income so I am just a) helping my friend out and b) hoping to add a little to my bottom line. Believe it or not, I am a computer engineer by trade.
• As for a truck, we have been looking at Volvo 730's with D16 and 13sp in the 2012-2014 range. Something with 400K ish miles is about where we are looking. He has driven them before and knows all the in's and out's of them.
• The line we will run with has connections with repair, fuel and tire facilities on a national level so there is pretty good support structure built into the lease.

Maybe this makes my case for better, but probably not. Like I said, I don't plan to makea huge pile of money or anything, but a positive return is always good.

 

Well....I have been looking into this for over a year. We have been going over actual numbers for about that same time. My spreadsheet bears the numbers out, as long as I have all the numbers in there. I am worried a bit about what insurances are required on the truck, etc when you are leased on with a company. I will be buying the truck outright. Any insight on that would be helpful. This is not a done deal, but a work in progress.