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Originally Posted by Molson
This is my situation. I am 29 yrs old, have been a financial advisor for 6 yrs now, make a 6 digit income and have all the toys ive ever wanted. Most people would kill to be where I am at, but now, I am willing to give it all up to be a long hauler. I do not want to do it for the money obviously, I just want to be on the road driving a big rig (hopefully my own some day) traveling all over.
I have no kids, no wife, and I am giving up everything I own so I have no liabilities. I really want to have a truck I own. My question is this...once I get my CDL, I will be in a position to buy a newer truck cash and have 100 to 200k in the bank in addition to owning my own truck.
All the reading I have been doing tells me I should work a min. of 6 months to a year before I even consider buying my own truck and being an o/o.
If you were in my position and could start over again, what would you suggest doing?
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Well, here goes.....
1) Make sure I had read nearly EVERY thread on the O/O subforum of this site!
2) Cash out the house, bike, nice car, etc. and RENT a house with room to park the truck (and 2 or 3 trailers.)
There's no reason to give up EVERY convenience of a home, etc., as you WILL get to come home some times. But, a good "transportation" car might be all you need, and a much smaller house just to sit in and relax when you are home. The reason for RENTING a house, is because you many find soon that you want or need to MOVE to another part of the country to be "based" out of.
3) Contact a company like CFI and have a talk about buying a truck and leasing on to them. What kind of loads will you get? Where can you go? Can you work your own schedule? (on or off when you want.... days off inbetween loads?) OR....
4) Check the subforum on drivers looking for O/O's and try to find a good driver who wants to drive for you and teach you the ropes. The BEST situation would be a guy who doesn't need to work EVERY week. He may want some hometime, and YOU can run those weeks by yourself.
5) Treat it LIKE a business! Consider buying the equipment and letting someone ELSE drive for you for awhile. Get the accounts rolling. Ride along with HIM and learn the business. (Who knows, someday you may want to buy a second truck and keep the guy on to drive the first one.)
6) Don't buy a NEW truck. One a few years old with low miles and some warranty left would be good. Make sure it has a condo sleeper. If you don't like the idea of TEAMING or bunking with another guy for awhile... I believe you can afford to stay in "trucker" motels at night.
7) If you lease to a company, you won't need a trailer. But.... if you go it with the O/O "mentor" as I mentioned, buy a good "used" REEFER. This way, you can haul ANY "dry" freight OR produce. You will have just doubled your potential for getting loads! Down the road a ways, you might want to ADD a "step deck" or "lowboy." This will allow you to haul large equipment like cranes and military trucks, etc. MORE flexibility! Personally, I wouldn't buy a flatbed.... too much work! But, if you decide otherwise.... go for it.
8: Stay away from "dedicated runs!" You are not looking for reliable HOMETIME, and you CERTAINLY don't want to be running the SAME route day in and day out!
9) "Normally" I would go with the "norm" and say do a year with some company to learn and get your feet wet. But, your case is different. We normally say that to discourage someone from buying his own truck when he doesn't know enough to keep the money coming in to make the payments and feed the kiddies!! YOU can afford to make mistakes and learn as you go somewhat. If you have a "bad" month, you won't go bankrupt.
10) Yes, that picture of the large car was "sweet," but don't put all your money into something like THAT to start! You just might wreck it! :shock: You have all the time in the world to get something like that AFTER you have gotten dry behind the ears!
Do you remember the old TV show, Have Gun Will Travel?? That would be YOU!!! Get your CDL, buy some good USED equipment, and go looking for loads that will take you where you want to go!!
If "I" were in your shoes.... I'd rent a place in the country with room to park 3 trailers. Eventually, I'd own a reefer, a lowboy, and probably a car hauler. (or a tanker)... and probably TWO trucks!
Don't go blindly or stupidly into this..... read all you can, and TALK to O/O's at the nearby truckstop! But, don't go SCARED, either! You can afford to make a little less the first year while you are learning and building a contact list of brokers, shippers, etc.
Like you said.... IF you should fail, you simply sell off all the equipment, and go back to consulting! But, if you
SUCCEED..... you will probably be the happiest, greybeard out here someday!
Oh, one more "option:" Get your CDL and
YOU take a job driving for an Owner/Operator!!! Learn the ropes from him, see what it takes to BE one, and THEN buy a used truck and try it on your own. If I were you.... driving for a company would be my LAST resort.
I HOPE this helps. I have done NONE of the above, and I might be out of MY mind, as well!! But, you asked what I'd do if I could start over OR had YOUR options! Well.....
that's what I'd DO!!!
Hobo
