NEWBIE WITH INHERITANCE
 

Hi.. Im in USA .. these days I recived a inheritance so i want to investing in some trucks... but im very new in this bussines ... i want to begin with one truck (w900) to see .. but i want to hear from you how much i can earn in a month or a year... paying the driver and repairs, insurrance.. all that things.... i will appreciate all your comments... Thank You ...

You can lose money, or make money, there is NO guarantee you'll make money.

If you got an inheritance and want to start a business, invest in a Quizno's franchise or something, especially if you know NOTHING about trucking AND US regulations in general.

My .02

They say the secret to leaving trucking with a million dollars in your pocket is to start with two million! :D

My neighbor lost his azz on a Quiznos. Franchise fees suck. Invest in what you know and if you dont know anything buy real estate or mutual funds and get a real job. Lot less stressful, especially the comfort of knowing you dont really need your job. :D

You took the words right out of my mouth!

Very true.

Geez guys - I think we should be more supportive here ... so when these "any idiot can make millions in trucking" guys go under we can buy their equipment cheap at the bankruptcy auctions :lol: .

What would be the point?

So we could go bankrupt too? :?:

Well, if we got it for fifty cents on the dollar it would take us twice as long to go broke as they did I think :shock: ?

REAL ESTATE is what am putting my money to whenever i get to a certan point of my liking. Real estate is something that takes care of your investments better than a bank itself and you can never go wrong with it, it will allways be there no matter how hard times get. I purchased apartment over seas recently after a'lot of debating and now am really happy that i did so since the place where i bought it at will be part of European Union in about a year or two where its value will double five times over compared to what i bought it for. Real Estate is the way to go!!!

Amen.

open a HOOTERS

Good advice, Useless.

I had to read your original post over again. From he replies I assumed you were asking for investment advise???

I think all the information you need is posted in one form or another in this forum with enough information to answer all your questions. I don't think anyone can give you hard facts on what your going to make. There are too many variables involved and I think if you read enough you will get a good idea.

If you want to get into driving I would find a small company or O/O to work for. Do this for 6-9 months and you'll gain some perspective.

Start reading the Wall Street Journal its quite possibly the best paper on the planet for business & finance. Read the books Millionaire Next Door & the Millionaire Mind. You should be able to pick up both for nothing at most any used book store.

Get a good CPA, Lawyer and fee-only financial advisor.

BE PARANOID.

All sorts of hucksters crawl out of the woodwork for $. My Step-Grandfather managed to piss away a $500k windfall (early 1970s money) with all sorts of stupid exotic investments.

I've been in this racket for 10 months now as a driver and I'm just now have mastered being a company driver.

While I've enjoyed his posts and wish him the best of luck, I don't know if the Steve Booth school of jump into the deep end to learn to swim method is right for all.

LOL.

That's how my friends father learned how to swim. He came over on the boat from Italy and was told to stand in line at Ellis Island. Next thing you know, he's forced to join the Navy. Ok, everyone who can't swim on this side of the boat. He was one. Then they pushed them all over the side. He learned to swim that day. lol

LOL.. I was going to make a similar comment about Quiznos. Supposedly the franchise hounds you to death and dictates your pricing for product, so you can't compete localy. The guy I know is going bankrupt and wishes like hell he opened up a SUBWAY instead.

Yes, Real Estate is the safer ticket.

Thnaks
 

Thanks guys for all your replies... I decided to get in to trucking bussines because my brother.. He is in Colombia and he has 9 trucks ... and each truck gives him 8.000 US dollars net. in a month .. but here in USA the trucking business is very different .. a lot of laws .. well the only thing i can say is wait.... im not in a hurry .. i will learn more about trucking.. i thing is an intereting investment.... real state dont get my atention.. anyway thanks for all your replies..

Mauricio

Re: Thnaks
 

:roll:

If I could run 100 miles a month, I might be able to get by on 8,000.

Its not what the truck brings in, its what the truck has to do to make the $$. If its running 2000 miles per week, thats $1 a mile :)

I grossed over 55,000 this summer in 2 months, however I kept about 40% after expenses.

Smoke and mirrors, man. Smoke and mirrors :wink:

This is EXCELLENT ADVICE!! :rock:

I would also recommend attending Dave Ramsey's "Financial Peace University"; it really is good for everyone, not just those who are dealing with debt!!!

BanditsCousin: I grossed over 55,000 this summer in 2 months, however I kept about 40% after expenses.


55.000 dollars in two months .. ? how many trucks?

Buy as many w900 as you can chorme them out and lease them on to CRENGLAND you will make stacks$$$ a buddy of mine started out with 1 truck and has over 15 in a little as 3 years with england. :lol: :lol:

Does anyone else smell that?


:dung:

Re: Thnaks
 

Heres a piece of sound advice to your question and a way to make MILLIONS !!!!! You can buy really good trucks at the Ports, they are mechanically sound and look nice. After you buy these trucks, station them near the border of the U.S. and Messyco. ( Not near those pesky border patrol agents ) You can then advertise your cartage services to the locals on the other side of the border !!!!!!! Look at all the dinero you could make !!!!

BTW if you do want to invest in real estate look into Real Estate Investment Trusts (REITS). They offer many of the benefits of real estate without some of the drawbacks.

One of my best stock pics was a specialized REIT that dealt with private prisons.

Re: Thnaks
 

:shock: Sounds to me like a recipe for disaster, but Good Luck to you!!!

How about this...talk to a banker and let the money work so you don't. And leave rolling down the highway in a 80K lb rig to the professionals. Having money doesn't mean you are going to be successful in this industry, it may be a cushion for a while, but when that runs out all your left with is buyer's remorse.

Personally I think you're yanking everybody's chain.
If your "inheritance" is such that you can afford several trucks, I would suggest that you get your financial advice from other areas.

I'm sure you've been told that in trucking the best way to be a millionaire is to start out with 2 million.

This job is stressful??? I better start stressing then I guess

The problem with that is who'd going to watch your property for you? I just had a place only a few hours a way and I turned it over to Coldwell Banker Property Manangement or should I say Mismanagement. It was an utter disaster what was done to that house. It was a brand new place too. The thing is I specifically asked if they did certain checks and how they did it and she told me yes. Well they didn't do it and then claimed that's not their policy to do it. If I managed the house myself I would have been better off.

I have a neighbor now from Romania and the prices there are going high. I've also thought of buying something in South America but the problem there is the country I'm looking at has coverted their currency to the U.S. Dollar and prices have already gone way up while wages really have stayed the same. But it all boils back to who's going to watch over my investment? I've learned that nobody cares about your money like you do so it is very difficult to find responsible people, notwithstanding how fancy a title they have or the name of their company.

So you want to build a trucking company, and let other drivers manage your equipment/investment?

I don't know what you are talking about, I never said anything about letting anyone manage my equipment