What to buy with 150k

Discussion in 'Ask An Owner Operator' started by ruckusftlc, Apr 30, 2021.

  1. ruckusftlc

    ruckusftlc Light Load Member

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    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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  3. Don379

    Don379 Medium Load Member

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    ok just remember, when you go to sell that 150k emissions truck if things dont go your way and you had enoiugh, you wont get the return. That truck wont sell for half of what you paid. its a big commitment.Do your homework fella. I dont know you and noone else does on here. You might do well and make a name for yourself, or you might not. But dam we all wish you the best.
     
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  4. Judge

    Judge Road Train Member

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    West Memphis Pete has a ton of 16-17 Pete 579s, APUs too 300-400k miles
     
  5. roundhouse

    roundhouse Medium Load Member

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    If I had $150k I’d be looking to
    invest it in a syndicated apartment complex purchase .

    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 .
     
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  6. Farmerbob1

    Farmerbob1 Road Train Member

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    If you can find a used truck that is only a couple years old, with lots of miles left on full coverage, that's what I would suggest. Be sure to compare pricing before you buy that used truck though.

    As for the features you want, engine, transmission, etc, that depends on what you will be doing, and where.
     
    Jaebo74 Thanks this.
  7. skallagrime

    skallagrime Heavy Load Member

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    That depends on how you run, if you go mileage and do that model (120k+ miles/year) yes, you will be seeing 10k+ in mpg savings, but if you go more for good loads running shorter (say 80k/year) the difference is only about 4k a year. What you lose in mileage you can make back by simply doing the work yourself on an older truck. That just wont be an option on a newer used vehicle.

    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.
     
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  8. roundhouse

    roundhouse Medium Load Member

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    Yep
    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.
     
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  9. Dave_in_AZ

    Dave_in_AZ Road Train Member

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    That's just about enough to get into a nice $500K house in a hot market.

    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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  10. haycarter

    haycarter Road Train Member

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    A House..
     
    joey8686 Thanks this.
  11. Colt6920

    Colt6920 Light Load Member

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    If you are a good driver, and have a clean record, experience, common sense, it may be worth finding a specialized niche and work as a company driver there for better pay. Then invest the money.
     
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