It’s actually cash I made 2017 an investment that skyrocketed in January. That why I thought to become O/O. I like the company I work for as a driver but I would love to have the freedom as a Own operator. I also thought about to Invest in property but than I still a company driver.
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Coffey Thanks this.
If I had $150k I’d be looking to
where 8 or 10 people pool their money for the down payment.
With an apartment complex you have enough units that a couple of loser renters won’t bankrupt you.
Most of the smart apartment investors can double their money every 2-3 years.
A houses value is determined by the neighboring house sales but an apartment complex value is determined by the profit it makes.
Raising the profit 10% increases the value of the property 30% , which coincidently is what you have to put out for the down payment .
Buy it , raise the profit 10% by trimming expenses a little and raising rent a little, and in two years you refi and get your down payment back out and do it again or sell it and get double your down payment back.
Ain’t no way I’d blow $150k on a new truck.
I’d keep company driving and start reading the Lifestyles unlimited apartment syndication website .
but if you want to buy a truck , do NOT get a emission truck, just stay out of California , and buy an older pre emission truck with no EGR no DEF nor particulate filters , none of that crap that will leave you sitting while the truck is in the shop for three weeks and you’re not making any revenue but you’re still having to make the payment and insurance every month.
either that or buy a brand new one, Just know that in three years it will only be worth half of what you paid for it .
As for the features you want, engine, transmission, etc, that depends on what you will be doing, and where.Jaebo74 Thanks this.
Lets say it were me, i would find a plot of land that i could pull 2 trucks and trailers on and off nicely, buy that, probably build a shop and buy 2 much older trucks 1 that i would be working on for 7-10k, one that runs well enough to run for a year for 20k
Id then drop some cash on financing a brand new trailer specced exactly the way i want it (i do flatbed)
Thats what i would do. Your location and buisness model or even mechanical aptitude may not be a good fit for this.
The mpg savings on a new truck will likely get eliminated with downtime from the computer complexity and emission problems.
$20k is what, two weeks revenue ?
Four weeks ?
with a brand new truck that’s so complicated and has soooo many computers that only the stealership can touch it , combined with covid supply chain parts delays, you could easily lose a couple of weeks revenue for every breakdown.
you can’t compete with the megas for efficiency: lowest driver cost, lowest truck cost, lowest fuel cost etc .
A mega buys thousands of trucks every year and gets a discount on them.
A mega buys millions of gallons of fuel a year and pays less for it than you will since they receive hidden discounts. Megas don’t pay the price that’s displayed on the pump, that price is for the little guys to pay.
What’s available on the load boards is what The huge carriers don’t want because it doesn’t pay as good as the freight they gobbled up before it made it to the load boards.
Or it’s freight from the load board that they own and it’s been Re brokered three times so they are making as much money listing it as you are hauling it.
so as an independent you have to find a niche that the megas can’t serve. and long term you have to find you own loads before they hit the load boards
otherwise you’re not building a business. You’re just buying yourself a job.TokyoJoe Thanks this.
In 2 years the house will be worth $600K plus and you can be a company driver.
In 10 years the house will fetch 7 figures, and you will still be a company driver, except you sold the house took your $500K profit with no taxes owed and bought two more.
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