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teamster
Joined: 14 Feb 2005
Posts: 150
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| Posted: Fri Sep 15, 2006 1:31 am Post subject: want to buy a reefer trailer |
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| I currently have a local job that I like, but my wife is now pregnant and I am looking to make some extra money so she can stay home when the baby is born. I was thinking of buying a complete tractor trailer unit but it seems to be too expensive and risky right now and I have limited funds to invest. I want to buy a trailer and lease it to someone to pull for percentage. I would be carrying the insurance and cover all the maintenance costs-tires, brakes, reefer unit, etc. Just want some thoughts for you guys who do this all the time. I have found several quality used trailers for 6-8k. I would pay cash so I will have no payments. Will this be somewhat of a risk free venture, considering if it doesnt work I can sell off the trailer and I'm really only out cost of trailer. All input is greatly appreciated. |
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brian
Joined: 02 Jan 2005
Posts: 996
Location: over here
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| Posted: Fri Sep 15, 2006 5:20 am Post subject: |
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| you can try to rent out the trailer or lease it to an individual for a set price but you can`t lease a trailer to a company for a percentage, they want tractors not trailers. I see alot of risk and very little ROI for you if you do this. |
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GMAN
Joined: 13 Feb 2005
Posts: 9314
Location: Tennessee
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| Posted: Fri Sep 15, 2006 6:48 am Post subject: |
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| There is a lot of risk in what you are proposing. Most carriers allow 8-10% for a trailer. If you do pursue this, you should really check out to whom you lease or rent. Most of the time, if someone has decent credit and work history, they will go through conventional channels and buy their own trailer. |
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teamster
Joined: 14 Feb 2005
Posts: 150
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| Posted: Fri Sep 15, 2006 12:33 pm Post subject: |
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| I have spoken with a company and they actually do want trailers. I would not be leasing to that company but to an individual who is leased to that company. I was told that they get calls all the time from people who want to lease on but do not have a trailer. Like I said I know I'm not going to get rich with one trailer, but would like a little extra income. |
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Sonny Pruitt
Joined: 02 Sep 2006
Posts: 449
Location: Mahwah,NJ
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| Posted: Fri Sep 15, 2006 3:33 pm Post subject: |
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looks good on paper but an old reefer unit is a tempermental SOB. The driver will push it to max because "its a rental" and if it fails ....
ring ring
Hello?
This *&^%&^%$^ reefer wont hold temp
3 am
What do I care send somebody out or better yet get me another unit.
3 05 am
ring ring
Hello?
The mechanic isnt here yet!
ring ring
3;10 am
where the hl is the mechanic?
good luck
or
ring ring
Hello?
This is the Jersey City Police.
We found a trailer registered to you parked under the Pulaski Skyway.
Oh?
Yes and it has 40 unlabled chemical drums in it.
Please come down to the station
NOW! |
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solo379
Joined: 14 Feb 2004
Posts: 3133
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| Posted: Fri Sep 15, 2006 4:12 pm Post subject: |
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I'm no expert on a reefers, not that i ever want to be! :shock: :D
But let's talk money!
What kind of monthly payment you expect? I doubt, that it would be more, than $7-800, cause you could buy newer unit, for less than that.
Some one correct me, if i'm wrong... :roll:
Let's say, you got lucky, and nothing serious come apart on this trailer, still gonna cost you some money,+insurance...and if you buy it for 10 grand, at the end of second year(in a perfect world :P ), you just might get even....
So, IMO, you'd be better off, by putting this money in a stock market.... :roll: |
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Sonny Pruitt
Joined: 02 Sep 2006
Posts: 449
Location: Mahwah,NJ
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| Posted: Fri Sep 15, 2006 4:20 pm Post subject: |
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| I paid around 225 for a week plus mileage plus engine hours |
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Sonny Pruitt
Joined: 02 Sep 2006
Posts: 449
Location: Mahwah,NJ
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| Posted: Fri Sep 15, 2006 4:21 pm Post subject: |
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| oops :oops: |
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teamster
Joined: 14 Feb 2005
Posts: 150
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| Posted: Sat Sep 16, 2006 2:53 am Post subject: |
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Unfortunately Solo379 the stock market wont work for me as I need something that will generate a monthly income. Like I said wife is pregnant and I need the money. I am already working 50-60 hrs per week so there is not much time for a second job. The only reason I had this idea is I know some people who are doing it and they are doing quite well. They own several trailers. I understand that talk is cheap and that is why I came here to get an outside opinion. Does anyone have any other suggestions on what I could do that may be better. I am open to anything.
Thanks for everything. |
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LOAD IT
Joined: 02 Sep 2006
Posts: 614
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| Posted: Sat Sep 16, 2006 6:57 am Post subject: |
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teamster wrote: Unfortunately Solo379 the stock market wont work for me as I need something that will generate a monthly income. Like I said wife is pregnant and I need the money. I am already working 50-60 hrs per week so there is not much time for a second job. The only reason I had this idea is I know some people who are doing it and they are doing quite well. They own several trailers. I understand that talk is cheap and that is why I came here to get an outside opinion. Does anyone have any other suggestions on what I could do that may be better. I am open to anything.
Thanks for everything.
Take the money you would spend on a trailer and get your broker authority. For about $1000 your wife could be set up with an office at home and you would have $3000-$4000 in the bank to start paying the trucks until the checks start coming in. It is a good business to get into and if your wife agrees, she will better understand what you do. If she doesnt agree, stay far far away from this suggestion. |
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marcel27208
Joined: 19 Aug 2006
Posts: 782
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| Posted: Sat Sep 16, 2006 6:59 am Post subject: |
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LOAD IT wrote: teamster wrote: Unfortunately Solo379 the stock market wont work for me as I need something that will generate a monthly income. Like I said wife is pregnant and I need the money. I am already working 50-60 hrs per week so there is not much time for a second job. The only reason I had this idea is I know some people who are doing it and they are doing quite well. They own several trailers. I understand that talk is cheap and that is why I came here to get an outside opinion. Does anyone have any other suggestions on what I could do that may be better. I am open to anything.
Thanks for everything.
Take the money you would spend on a trailer and get your broker authority. For about $1000 your wife could be set up with an office at home and you would have $3000-$4000 in the bank to start paying the trucks until the checks start coming in. It is a good business to get into and if your wife agrees, she will better understand what you do. If she doesnt agree, stay far far away from this suggestion.
I 2nd that! |
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Sonny Pruitt
Joined: 02 Sep 2006
Posts: 449
Location: Mahwah,NJ
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| Posted: Sat Sep 16, 2006 8:44 am Post subject: |
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I have a 95 Carrier
If you are still planning , you pick a unit(thermo king or Carrier) that has a dealer closest to you.
I have a carrier dealer locator and the book is quite thin!
And then they are mostly 8-5 operations
You can also send me the $5,000 and I will invest it for you.
I have not mentioned this yet but I have been working on a self chilling beer can and I can get you in on the ground floor. |
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teamster
Joined: 14 Feb 2005
Posts: 150
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| Posted: Sat Sep 16, 2006 1:52 pm Post subject: |
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| That sounds like a good idea Load It, but I do not know the first thing about brokering loads. I would think there are many specifics to it. Do you have any suggestions on where I can learn more about it. By the way Sonny let me know how that self chilling beer can works out for ya. |
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LOAD IT
Joined: 02 Sep 2006
Posts: 614
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| Posted: Sat Sep 16, 2006 4:30 pm Post subject: |
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teamster wrote: That sounds like a good idea Load It, but I do not know the first thing about brokering loads. I would think there are many specifics to it. Do you have any suggestions on where I can learn more about it. By the way Sonny let me know how that self chilling beer can works out for ya.
Brokers is just plain customer service. You provide trucks for the shipper and you provide good rates for the trucks. You could test the waters by calling a small to medium sized shipper, ask for dispatch or transportation manager and offer some trucks for what he needs moved in the near future or presently. He will ask you to fax him some rates, authority letter, w-9 tax form, cargo insurance ( which you should provide on a per load basis). Try this and let me know how it goes. Its not hard and you have to start somewhere. Its a good investment. Youll come out better than buying that trailer. |
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SteveBooth
Joined: 18 May 2005
Posts: 3501
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| Posted: Sat Sep 16, 2006 11:59 pm Post subject: |
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Sonny Pruitt wrote:
You can also send me the $5,000 and I will invest it for you.
I have not mentioned this yet but I have been working on a self chilling beer can and I can get you in on the ground floor.
Are you serious? I work in a lab and we have sterile dry ice. On Fridays we have beer, wine and munchies. Some of the people put the dry ice in there beer. Since it's a gas unlike ice it won't water down the beer and it looks really cool with the heavy fog coming out like on the Munsters! |
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