HOW WE FAILED AT HOTSHOT /W w DD 214 Transport 75
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- Опубликовано: 28 сен 2024
- HOW WE FAILED AT HOTSHOT /W w DD 214 Transport 75
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Had a ford f350 for 4 year's and never stayed in a motel. Was out for 30 day and home for 1 week. Pulled a 40ft gooseneck.
@@dogman807 you iz ah hoss!!!
Sharing when things go wrong is a good character trait and appreciated. Thanks for sharing your story.
Sounds like they wanted to live like retired folks and bought into the fantasy hype.
Wife could have stayed home with the family while husband went out.
They could have settled for more reasonable truck to use.
I have a blended family, I drive while my wife dispatches 3 weeks at a time. Once the schedule lines up she comes on the road with me.
It failed for them become they didn't want it bad enough, they knew they had options to get out so they took it. The people who come in to the industry fully committed find the way to make it work
Absolutely ridiculous!
18 years flatbed : The moral of the story is … If you’re unwilling to live in a truck and piss in a bottle, don’t do it,lol😂.
LOLOLOLOL yep
I’ve been trucking since 2003 when I was 18, for 20 years now. I got my CDL when I was still in high school. But worth mentioning, my father started his trucking company with a $200 truck, a kid and a dream in 1980. He got his own authority, (LLC) and tried a few different things that didn’t work for him. He fell on his butt a few times trying to do over the road stuff, but that was NEVER going to work for him, because by 1985 he had three kids, and full custody, and divorced for two years by then. So he found something that paid good, that fit his life routine. So in eastern Kentucky back in the 80s, coal is what paid good, and it was dedicated, consistent, and local, like he had to be! That is where y’all went wrong, you bought a big truck, newer model, no sleeper/bunk, huge payment, huge expenses having to keep your own LLC trying to do a job, that didn’t fit your lifestyle!
Don’t give up! You have three two huge things going for you, that 80% of the owner operators in the transportation industry will never have! #1. Your own LLC. #2. Cheaper insurance rate. #3. Both of you have a CDL. One thing we know for sure though, you guys can’t drive OTR we know that for sure. You want the latest and greatest equipment, I get it, don’t we all right? But, you can’t start out that way. You need to find you like a early 2000’s model vehicle, with around 150k miles on it, like a ram 3500 preferably manual transmission, because they hold up better under a load, with high miles. Have you a vehicle that is paid off, or real cheap payments, and work on your own equipment, and know someone you trust to fix the bigger issues. Find look in your area, do some research, before you buy anything, so you’ll know what kinda equipment to have, when you find that perfect dedicated run that fits your lifestyle, gets you home everyday, or often so you don’t have to pay for hotels. Do that for a number of years and build you some infrastructure while you are getting your children raised, then go for the OTR and see the country and enjoy it! But you can’t have new equipment startup, you just can’t afford it, unless you have money saved, and can pay cash, or at least 60% down payment. Build yourself up slowly, and if you plan to have multiple trucks, then have two trucks paid for generating income, for every one truck payment you have. You can take $150k and buy you one NEW Ford F450, and make around $40k a year profit, or take that $150k and buy four good used trucks and profit $160k a year. Another thing to consider is, getting your brokers license, and hire owner operators under your LLC, and increase your profit margin, another 20% to 30% because like I said, there are over 80% of the owner operators who only operate under other companies authority, that you have, and they don’t. Always be looking to adjust, and look for the next best thing, and stay on your phone and tablet and call companies directly who are using brokers, and under cut the broker, because 9 times out of ten they’re going to go with you cheaper because they’re trying to be more profitable also, and if you deliver when you say you’re going to, then they will stick with you for the long haul. You find the right people, you can build with them, and get major transportation contracts, and before you know it, you are a mega career like I am today, self insured, with all new paid for equipment.
CDL at 18 with a minimum of 2 years on an operator's license and it's only intrastate plus those are the new laws, in 2003 I do not remember that being the law, especially for a Class A. As far as I recall you were limited to Class B or C and still intrastate only. Plus your own authority has nothing to do with an LLC. Your own authority means applying for your MC and DOT and an LLC is just a Limited Liability Company. So if you get sued they can't touch your personal assets.
@@SaintsPurgatory with all do respect ole buddy, you don’t have your facts right! Within the state of Kentucky you can, and I did get my Class A CDL, double triple, tanker and air brakes the day after I turned 18, my class A permit, then 30 days later i took the physical road test and had my class A and all but my passenger and hazmat. We hauled coal, within the state of Kentucky, I could not cross state lines till I was 21. I drove 600 miles a day, and attended high school from 8am to 1pm, and took a load to school with me 120,000 gross with a 40’ tri-axle end dump. I’d get out at 1pm and haul three loads then take my last load to the bus parking at the high school at 1am, climb in the bunk and sleep till 7:45am in the parking lot of the school, and I paid for my first new 2003 W900L KW, 2WS C-16 Cat With 18sp 46k 373gr double frame, 46” studio sleeper 290”WB I paid every payment my self and worked my ass off, so when my dad lost his battle against cancer in 2011, he left the company to me, and i turned it into what it is today!
I learned more from your comment than most videos I've watched. Thank you!
Wow Alex thank you for this long message I loved it an it helped me understand things more!!!
Thanks for the information, shame on the people in the chat who are kicking them when they’re down.
That rig… that was the killer. Hindsight is 20/20. Thank you for both of your service. Don’t let this set back define you. Adapt and overcome!
I seen the writing on the wall. Cost of equipment and over head I sold everything. Been in transport for 20+ years. Rates was stagnant and the value of my equipment was more than when I purchased it new. Hard to find parts so sitting broke down for extended periods of time. Fuel, insurance, normal maintenance costs went through the roof. I thought about it people was still listening to tow piggy and others I sold everything.
Insurance went through the roof?
@@bobbakian7369 it can if you get bad inspections
Wow!!! I watched this whole video & that's very rare for me. I was glued from the get-go. I'm a company driver for a small paper company in Delaware. I often see these Hot-Shot trucks on I-95 & at the weigh stations & I thought it would be pretty cool to be a Hot-shot driver. After hearing this story though now I think I'm just gonna stick with my company job. I'm not making any payments or paying for fuel or insurance, tires, etc. I'm only making 23.00 an hour but I'm getting by.
Take care & may God bless you, thanks for sharing your story.
Wow, $5400 a month.. crazy, my minimum is $1600 (insurance and truck, trailer was cash). My cost per mile with fuel on average is $.97 per mile. I run Monday through Thursday / Friday couple weeks per month and when rates are up I run all month
Mine is 6k a month. But I bring in about 20k a month.
My first full month I grossed 26k and spent 8k in fuel. Truck, trailer and insurance is $2250 a month.
IAM so Glad IAM a Trillionare 🤣😅😂
@@paulwall5706 you out of Texas Paul?
What an enlightening video. You’ve opened our eyes to a few things and hope to learn from your experience. Good luck to you both.
Travis and Theresa,Thank you guys for your service...!!!!!
I Appreciate the courage to share your story!
I've got a hotel 1 time. That's when I was so beat I couldn't drive anymore. Now I stop at loves pay 16.00 to shower take a break and roll. Easy money. I love it. I owned a shop for 20 years and sold everything bought a truck and now do hot shot. You don't need 200k to start. Dont be stupid. 2500 truck payment 1000 trailer 1000 insurance 1000 lot lizard add up quickly people focus. Merry Christmas niggas
Lmao
A heartfelt THANKS for telling your story. Hope you two get back out there when the time is right.
Issue right out the gate, wrong truck. Thats a high maintenance truck for the amount you can make. I recommend a ram 3500 two wheel drive manual. I made the most money with this setup. Get your own customers first before going to the load boards, I used to call businesses in the area i was in. (lumber is big where I live, I would call them first) I always did this before hitting the load board. I didn't have the 6 month issues when I started. I ran mostly direct for customers. Also within a few months, I had a good book of business in all the major cities near me. This is the best advise I can give to the noobs. this alone will put you ahead of the rest. when i say call looking for freight, I mean I would make 50+ calls before hitting the load boards. Trust me, this pays off huge in the long run. This business s about relationships, if you can't make them, you have no chance in this business. Anyway, GREAT VIDEO!
You were able to get direct loads even with a new authority?
@@theboxtruckprincess7823 yeah a lot of businesses don't give a shit how old your authority is. In fact, I can't recall one ever turning me down because of authority age. only brokers. (i run flatbed) I suppose they might start doing it. but three years ago when i started it wasn't an issue. when you call, make it clear you are not a broker and you own a truck. I use to always say this right out the gate. "Im looking for a load out of town, Im empty and looking for new customers. I do not broker freight and we are not brokers. We're a trucking company"
These places get a lot of calls from brokers. So you have to make it clear what you're doing to get past the "gate keeper." also ask for shipping or whom ever books their shipping or freight. A lot of people are not hip with the shipping lingo, so it is a challenge sometimes to get to the right person. Ask for load list as well or if you can get on their email load list for future loads. This way you get emailed daily their loads. Get enough load list and you dont need load boards.
When you get the right person on the phone, create a relationship. don't be. robot on the phone. be personable, talk about weather and the game mixed in with business. This industry is all about relationships.
Always, always always, leave them with your information for future loads. Include: Name, number, length of trailer and max load weight.... I've had people call me a year later asking for a quote.
Drop business cards with every pick and drop you do. ask them for load lists, do they only use brokers or do they go direct, etc... Create another relationship. take a minute to talk with the people in the office. If it is a lady, I tell her something looks good on her. Sweater, nails etc. This can spark great conversations. Get good at talking to people in other words. lol
You got to hustle in the beginning. I should make some video's on this. No one seems to know all the work you can do when you start out to make you successful
Wow thank you for all that info!!! Much appreciated. We're about 4 months in. Not driving anymore, hired a hotshot driver. Going pretty good.
@@theboxtruckprincess7823 Equipment rental companies are another great market for hotshot. Also small lumber companies. Good luck!🍀
Its always better to go into something with minimum to no debt . Would have a better chance at success. If your just starting out id find a good used truck and run it for a while to get the $$$ coming in then evaluate your situation and see if a brand new truck with payment etc would help you or hurt you . The more debt you have upfront the harder/ longer its gonna be/take to get ahead and start turning a profit . Im new to the game myself im trying to be smart and stay out of debt as much as possible to better my chances of succeeding
We told people in the Facebook groups to not get into hotshot for a year. They said we were being negative and mean. Many didn’t listen and now they are finding jobs. People who are established and having established mc’s are having a hard time. No way someone new will make it now. I got to the point where I just shut up and kept to myself so did others in those groups.
I don’t know, I have a brother and uncle that just started hotshot and they are doing well, but then again I have 13 years in the industry with my own mc and I’m guiding them. So I think it’s like DD 214 said, you don’t know what you don’t know and that gets people from what I see
U are still on Fakebook after OVER 500 Million accounts were Hacked that says it all Lmmfao 🤡🤣😅😂
@@paulwall5706 that doesn’t have to do with anything. Information is still information. Next time you want to call someone a clown maybe look at yourself first. That’s the real clown.
GOOD ADVICE. I started in February. I am just beginning to make money. It is August. Loads are hard. When you start, expect to have your ass handed to you. 90 days then 6 months of MC.. it's hard being new.
I run a non cdl setup. My fuel of course is more loaded on an old super duty than empty.. but a lot better empty than their rig.
I run a 1999 Super duty. ELD exception applies. Insurance is about 600 a month. So if you have a big ass new truck payment and big ass Comercial insurance, you be a slave . Lol
That’s a nice setup. I actually wanted the same setup but I went with a 2500HD gas Silverado and a F350 SRW super duty gas and started small. The industry has gone to crab in many ways.
2500 gas ? How’s it holding up? How much weight you haul avg.?
The one problem is staying in hotels , paying 200k for equipment and spending like it’s luxury like park at a truck stop and a parking lot and you have your restroom and your shower
You have to find the options that work for you.
They were better off hiring a driver and they can dispatch
Why???
This couple wants to be home alot
I could be wrong but, almost always lease on before jumping in to the deep water. 35 years big truck, hotshot and otr van experience.
I would agree.
Got in a little over their heads, right off the bat. Did they run their start up plan by Brian, before they jumped out there? Im just starting to research the industry. Moving on from 23+ year military career soon, maybe.
Thx for sharing.
Yes sir
Back ground 35 years class 8 owner operator own trailer leased to companies. Those two seemed like a very nice intelligent couple. BUT how did they ever think they would survive financially working every other week?????? 3500 a month truck payment HOLY CRAP!!!! Just more RED FLAGS.
You were doing flatbeaders work on the cheap but you didn't have the necessary equipment that fit your profile. It was a bad way to start out, even if the Covid-19 pandemic had never happened. You might as well gotten a big rig and done flatbedding right. But you would've had to keep running, while the wife was home with the kids. Truckings number 1 rule, if your wheels ain't turning, you ain't earning didly squat. The same rule applies to HotShot or big rig. While they are expensive, big rig trucking is not that much more expensive for your intended field of work, but, you can always swap the trailer and run reefer/dryvan, or flatbed/Conestoga. HotShot you can't do that, because you can't haul real flatbed weights.
There are so many things to comment on about this video but did these people ever hear of a used truck? It blows my mind that people want to buy a brand new truck from a dealer to use for a starting business.
I just watched the video on that couple who failed. I leased on with a company and I failed too and to me the biggest expense to me was the fuel and the time drive seemed to always be over 11 hours and I could never get a breath or break. I was bleeding money and my debt wasn’t near what that couple spent. What could I have done different?
Sounds like for them it was going to be a vacation and realized it’s actual work
From what I understand you can pull in twenty ways station and request a volunteer inspection.
5450 damn that’s high man,they smell them coming a mile away.
That class 7 truck is just fine, they were just too new
Great video.. failing forward.... Keep stepping
I would also like to add, you can volunteer for a level one inspection by any DOT officer, and they have to give you a level one they may not want to, but they have to it’s the law
@29:09 You have to understand when you have a rare exotic truck it's hard to find parts or places to get it serviced
Dont feel to bad. thousands are going through the same thing.
I first started watching TP on RUclips while I was in a hotel in Corpus Christi as we were a lawnmower crew from San Antonio. We’d leave Monday morning by 0630 and mow our way to Corpus till around 2200 & arrive to some rest and have to be on the road every day by 0600 .and we’d drive throughout the S Coastal area of Texas servicing a major grocery stores and a hamburger chain .till either Sat or even until Sunday and even then mowing as we’d make our way back to San Antonio.
So , after watching TP & realizing that I was driving and working for three 2 4 hours out in the coastal heat and being safe while driving and none of us ever got pulled over or had any accidents, made me rethink that I’d be better off doing this .
Well , I also watched many other Hot Shot drivers and I also found ya .
I came across a lady who drove solo but she leased at first like TP recommended but her bring difference was that she didn’t use a factoring company . So she had saved the capital to cover , delays , ie, break downs , towing , EMERGECY repairs and parts along with hotel stays for at least three or more months .
I also saw how honest TP was in videoing his mistakes which made me think to at least carry some very essential parts for the trailer and truck just as we did when I was in the Army in a combat arms and we drove tracked vehicles. It actually came in handy when I finally bought my dually landscaping trailer and I replaced the part wo waiting cause it was already in my toolbox. TP lost a lot of time & money to waiting for parts and repairs for the trailer being to lite and chewing up his tires and axles .
I’m still working on saving and when I can buy myself another either Duramax or a Dodge or Ford , they will probably be an ole school truck with newer engine and transmission that both get the best durability and fuel mileage.
Judging from what one of my friends from church told me , is that he drove a Dodge but it was terrible for brakes and transmission repairs .
So , I might see about getting a 12 valve Cummins and sticking it into a Duramax or Ford but a 98 . Along with that I follow TruckMaster and he’s a Army combat veteran that teaches on how to do your own repairs which has helped me save alot of money and I last replaced my water pump and hoses on my 08 Duramax.
I thought about maybe initially leasing as TP had done as the way to start for the first 6 months and then using my own truck .
Ideally I’d like to buy a Diamond C trailer for Hot Shot but I’d really prefer to get a aluminum gooseneck trailer but they are very pricey and I wanna start wo having to finance anything other then leasing from Enterprise.
I know that I’ll see about getting a rural mailbox to shop for my business insurance to save on the ridiculous price for that .
I’ve had some setbacks and one of em should payback as a I was rear ended while I was stopped at a red light and a driver never hit there brakes and hit me in a Suburban.
Still looking forward to this and hopefully even start with leasing onto ya once I begin to get my CDL and equipment.
I’m single and I have no problem being on the road .
Did it in the Army and even for a lawn company.
Thanks for this very informative video .
I do hope that they can get back on the road and meet their goals .
PS my friend that drove with the Dodge , drove a two rack car hauler for a living . So he’s been a great help also .
They should have bought a used single axle sleeper tractor would have got good mileage and got it and cheap in comparison
Us farmers know how to buy these things like you are mentioning..
When you need a truck and trailer in the military you just go to supply and get it filled w all the fuel and tires and oil needed w no insurance expenses and no DOT or Epa regulation. Off we go! And at the end of the day we eat and shower n bunk at tax payers expense, finnish the run turn in the truck and we're all finished up not a concern or worry. My point is the military does not in anyway prepare you for the trials trucking in civilian world will put you through. Thinking that only staying out a week at a time will make hot shot a viable business proves my point. And taking on all that dept without a reality check and thinking somehow its going to just work out because it always did when the tax payer was paying the bill... how wrong you guys were. And a final note here..... a real trucking family or small company doesn't have the cush benefits provided buy the tax payers for a stint. You folks in the military stear clear of the trucking industry until you have driven for a company at least for 5 years trucking is no place for anyone that has not spent weeks possibly years worrying about do we buy new tires or pay the mortgage or rent this week or do we buy the kids new clothes or pay the insurance or pay for the kids medical and dental. It's all paid for in the military just stay w that you'll do fine. Truckers are the backbone of America without them nothing runs good and their treated like third class citizens out on the hiways eating sh#@ food paying ridiculous prices for parking and shower and being literally harassed by cops for stupid stuff. Stay clear you'll be safe that way.
Thanks for the information, best wishes to you
Good people’ thank you for the info! God bless
I about had a heart attack when I heard them say 3500$ 😳😳 What were they thinking?? That's 42k a year just for the truck payment, my dually only cost 60k brand new 😮💨😮💨 I'm sorry to say but that's pure foolishness.
Their minimum monthly expenses was $5450 and they thought they could make it by working every other week??!!!
This is the problem with newbies jumped head first in deep. With zero experience. All these people here is I made 9000 last week. Not that it was my best week ever. And they were going to fail being part time. Jmo
Driving around sightseeing in a quarter mil deals . Hmmm
Would like to see the bills on the truck and how much time and if it was worth it.
Working for someone else is way different then working for yourself!
Spend money to make money but you have to spend and save it wisely!!
What a great couple. Even if they started out with scott free truck and trailer would they have made it.
I've been out there for almost 2 years and not a single inspection after 150k miles. Got a decent looking 18 wheeler, not sure if it makes a difference.
Crazy. Had 8 in 45 days
They had to have new & shiny right out of the gate running 2weeks a month? My 1st truck as an Owner was 2 used straight trucks hauling appliances & then an old Penske rental semi. Never had a new truck just newer. And I bought work trucks do not show trucks.
With the big semi consolidated freight going out of business... Shouldn't Hot Shot drivers going to be in higher demand...? (I am not in the business)... Just curious... 🤔
One place to start is stop. Under cutting freight prices.
ABSOLUTELY!!!!!! “IF IT DON'T PAY LET IT STAY”
Buy an old F450 or 250. Get an old trailer and renovate it. Spend maybe 20k starting out for the first couple years.
They mentioned a MC# 6 month 2 inspection rule really hurt their ability to succeed. Can anyone expand on this?
Wouldn’t have taken much for it to worked out. Don’t disagree with them calling it quits , just not the right formula for hot shot. They probably could have done specialized well if they had more experience on the road.
How do I find a company or person to lease on with as a owner operator
dd214transport.com lease on link
Go to dd214transport.com and then the lease on link. Fill out the contact form.
What the hell difference whether its Ram, Ford or Chevy?
Amazing couple !!! I think these people are just too educated to quit. Quit the truck ( stick with Ford lol) get that 450 and kick ass ! It’s called a rough start and most businesses start that way , you guys are great people and god only looks out for people like you. If it isn’t scary it isn’t worth doing. I’m willing to bet something would happen for ya at the last minute but it’d happen. My life has been full of those moments and it’s stressful until you realize something WILL happen. Sorry to ramble but I see success in you people not failed attempts
Good luck maybe reconsider?
#1 Thanks for your service
#2 what a boss to have like yourself
A GREAT EVEN TEMPERED INDIVIDULE
Please remember my name i will be contacting you in 12 months.
The business is a flooded industry any one can get a pickup truck
They have kids thats why the failed only 7 days out normally your out 14 days out minimum
That rig in the thumbnail is why they failed lol.
Just curious why a lot of these folks feel the need to buy a new expensive truck rather than running used refurbished equipment?
BS, pull into a coop and ASK for level 1. Done
The couple, Contact the President of Envirocleanse in Katy Tx.
Way too much Debt not enough work. Takes a lot of time on the road to pay for a 200k rig
Who does a reset on 5-7 days. Ive gone 7 weeks of recaps avg 3800 miles a week
They failed before they drove the first mile.
Got a sleeper and staying in hotels 💸😂🤦♂️
The way I see this game is you can’t treat it like a road trip you got a hammer down everywhere you go pick up and drop off and nobody likes a International’s out here in the trucking industry
Lol I’ve been driving class A OTR for 10yr and have only 3 inspections
It'd be so much cheaper to find a 2nd gen cummins and have it rebuilt and put a bed in the back.. talkin 40kish instead of 200k with interest.
Financed a $200k setup, stayed in hotels, works every other week and expects to be profitable 🤨
Ouch 🤕
Right, sounds like they were on vacation. Why would you need 200,000 in equipment.
They never had any business sense.
@@topnotchtx Or maybe they feel for the "make 10k a week" videos. So they thought they would be able to afford it no problem.
@@David-td5po that’s pretty much what I was saying. They never had any business sense to realize 10 grand a week right now is unrealistic. Especially on a new mc. Those Gus that make 10k been doing it for a many years. I have brokers pull my mc age and then will give me the rate I ask for. A new mc can’t do must because they are too new and are most likely to fail. So the brokers keep the money for themselves.
The 2 deal breakers were getting a debt truck and trailer and only operating 50% of the time. That killed the whole plan even if the goalposts wasn't moved.
She wanted to keep blaming the goal posts for being the main reason for their failure, delusional
I’m confused why they are even stopping for breaks if they are team driving?
"Why did we fail?"
5400 a month in expenses, basically running every other week.
@Timothy John true.....people see videos on RUclips and see nothing but dollar signs. Saw one hot shot guy with a channel who claims to have grossed a million dollars in 90 days.
Closed his doors two months later.
The highways are chock full of hobby truckers.
@fishin4bogey905 Tow Piglet, lol.yea that guy is the Kardashian of the towing world, so absolutely full of it, hires CDL drivers but only does Non cdl driving? Like what LOL?
These people have a big ego. They financed everything because they were broke, even though they had multiple streams of income coming in. New commercial drivers with no business experience. The truck was too fancy to start out, just to satisfy her every whim on the road. They left their kids behind with her ex?!!! Lol.
@sweetpadre that was part of parenting deal. They didn't "leave" them, they had to go with the other parent.
As a retired Lt col with 26 years active duty I chuckled at her comment “retired major .. not bc I got in trouble” I can relate.. 9 years enlisted before I got commissioned. I found it funny!
Why did she even say that?
@@markpolice3585 If you start off as commissioned in the Air Force, you will more than likely be either a Lt Col or. a Colonel at 22 years of service as the promotion to Major normally occurs at the 10 year mark. The military is an up or out organization and there are limits of time in grade for each rank. If you don't make the rank ranks at certain points, you are considered not progressing and will be separated at their choice, not yours whether or not you made the 20 -year mark which is the minimum required for retirement. Essentially, you are not going to be able to hold the rank of major for 12 years. So when you see a situation of a 22 year retired Major that implies to many that she would have been a Lt Col or Colonel but got into some trouble and was separated but was reduced in rank to Major. However, since she still would have cleared 20 years, she would have gotten to retire at that rank.
However, in her case she started out as enlisted and did not get her commission until several years in. So the reason that she retired as a Major at 22 years was because of the fact that she started later in her career as a commissioned officer.
So in the first case where if she had started out as a commissioned officer retiring, at Major at 22 years is a bad thing. In her case having started out as enlisted retiring, at Major at 22 years is actually a good thing.
Also remember that military retirement at that minimum 20 year mark is not prorated. You either get it or you don't. In other words, someone who serves 19 years gets no retirement or someone who serves 20 years retired at 50% of base pay. There is no 401k type statement where this is your balance and you get this. It's either all or nothing. That's why if you stay in the military longer than 8 years and decide to separate before 20, that outside opportunity better be very good because you are walking away from retirement which you would otherwise have gotten 12 years later. That retirement also includes medical care and other benefits and you start drawing it the day you separate. Not at some point later in life when you turn 60 something.
You also have to serve 3 years in the highest rank held to retire at that rank. My guess is that she made Major at the 19-year mark and stayed to 22 so she would retire at Major versus Captain.
I appreciate them for sharing their story. I’m not a know-it-all, and I am learning from OO sharing their story. The biggest thing I’m learning is having that cash cushion to survive a downturn is a must, or you’re playing with fire until you have that safety net in the bank.
Yes, that’s true, but it’s very hard for some people to put away $ as a safety net, in everyday life, most Americans do not have a safety net of their own, live paycheck to paycheck, even homeowners, which is bothersome if sudden repairs are needed and you don’t have emergency cash on hand, such as us, but, you have to start somewhere, I’m still trying to put $ away, in this inflationary period. Our Parents survived several recessions and inflation, so we can too. Good advice from you though, how true is that??
I don't like driving in metropolitan. Intense traffic areas
Yes and paying $4500 a month for equipment to run half a month at a time is really risky unless you have dedicated great paying work
@@missingremote4388I don't do rush hours
I think their debt payments, esp on that truck, were killers on their own, but only running every other week was the nail. Those bills still come every month whether you're earning or not. I really enjoyed the informative video, and its refreshing to see honest people who are willing to discuss their failures, rather than fake people hyping their pretend successes.
Truck driver here, came from an owner/operator family which is the big brother to the hotshot industry. Can confirm you have to run week after week to make bills, finally had three drivers and two trucks and if one of us went down sick there were two options. Drive anyway, or someone took your truck out and you sat a week. Mom and dad drove team most of the time and I had my own rig but I only got one day off to reset logs and even then I had maintenance to do on the rig or clothes to wash. Always something that has to get done and taking a 'week on/week off" approach doesn't fly unless you make serious bank. The most time we took off was in December, usually mid month to just after the first of January where we rebuilt our brake systems and replaced all tires, bearings and anything else that was wore out or not going to make another year. Once we had the yearly maintenance done, then we could relax and enjoy Christmas but not before.
Still went under in 2007. Loads weren't paying well and the new laws were coming into play. Went to work for another company as a company driver after dad sold out and retired and been that way ever since. Dad died broke a few years ago.
@@darthhauler9947 Wow, thanks for sharing that. So sorry about your father's outcome, that's very sad
My wife and I own a trucking business. We have a 2019 Peterbilt 567and we haul new RVs from Indiana. Right now our truck is in Colorado waiting for a part that is on national backorder. It's been there for 2months now. Our equipment has no debt on it. We would have never done this with loans. We have money in our bank account to cover our business expenses while we are waiting for our part. My wife was able to get her old job back to cover our living expenses. Our philosophy is if you can't pay cash for it, you can't afford it, especially if you have them high dollar equipment payments and only want to work part time. We do this so we can retire in 10 to 12 years. We have no other retirement. We are in our 60s.
This is what I would call " they book smart " no street smart involved. Gotta be both in transport industry
Start in the trucking industry before going hotshot
No wonder they did horrible.
Yall want to team drive and work to own your own rig, call Heniff transportation
I appreciate them coming on and explaining what went wrong. What concerns me is that it seems they still can’t see why they failed. They had 5 minutes at the end of the video to explain what they would’ve done differently, and the only think they came up with was to buy a dually instead of a medium duty truck.
Good I hope they return to trucking one day because that's my competition. Just makes life easier for me. I'm a young buck and I'd drive circles around those clowns.
@@floridaman964 hellright🤙🇺🇸🇷🇺🙏
To make any kind of profit you need to be out at least two weeks out of the month minimum but realistically three specially with the rates the way they are right now
I hope they get back in to trucking. My first go round was a little brutal, but learned from my mistakes. Just retired from trucking a month ago after 40 very succesful years
Thanks for sharing I’m looking to get started wanted to see if you had some advice.
She could have stayed home on those off weeks and he could have kept running and been out 3 weeks then he could have came home for the a week. Overhead killed them. Downsize and keep moving.
Hobby Truckers. Very often people only see the potential money they can make, and not realize the work that they have to put in.
Exactly
I’m a combat Marine Corps Vet. I just purchased my F-350 to get in the business of hot shot and this vid was a big eye opener for me. Thank you for the info it has me thinking and wanting to change up a little of my game plan. Much respect and love to that couple that share their story. I hope their journey and future are going great. Salute 🫡
@@KING-lr7zs I know you already have the f350 but the f450 I find is better for hotshot there are a couple of videos on it
Business loans suck, (telling this from experience). They basically set you up for failure with those high payment, short-term loans. I admire their courage and honesty in telling their story. The only thing that I hate about it, is that I wish I was there to tell them not to get into a loan like that.
I borrowed over 100k and only owe 30k after 2 years . And I have plenty of cash flow . Worked for me . 2020 f350 amd 2021 fmax 212 diamond c 40’ w ramps
@@joebrings5817 in 2019 I kicked off my HS business w a 2007 Ram w 85 k miles I paid $23 k cash for it. I leased a trailer for $175. A week just to get my feet wet and jump into the business without financing anything. Everything was great making good money. I was just getting to the point where I was ready to finance a new truck and trailer then C#@o$# v#@id hit on 4/1/2020 and everything went down the drain overnight. I had to dead head from Virginia to California dropping off the trailer in Memphis to the owner because he was going out of business as well and was calling in all his leased equipment.
I was staying out 6 and 8 weeks at a time just to get the business going. Forgot to mention I leased on and did not go through the debacle of getting my MC just yet I guess my point is I did everything right and still got wiped out. Side note: still have my truck ( completely 100% mine) it still runs great and I am completely dept free but I will say this with my experience and watching the poor rates and high insurance and all the bs the brokers are pulling there is no way I will ever do hot shot any time soon but wow I really enjoyed that business more than anything I have ever done in the past.
@@stevethomas5209 yea I’m a Cdl hotshot and have been steady working and home on average 4 nights a week. But I live in Ohio and have a few direct customers keeping me busy. But yes rates are down and fuel is up .
@@joebrings5817 Thats great you found your nich. The north east is a good place to be for HS. I belive if you stick it out things will turn around for the HS business. We're heading into a recession and things might get even tougher for you guys for a while longer so hang tough my friend and you will reap the rewards in the long haul. I'm 63 now and the HS venture was my last hura and I wouldn't have changed anything except for the cervesa sickness but that was bad on all of us and no sense dwelling on it. I came down
with type 1 diabetes and could not pass my medical so as for driving I'm done.
@@stevethomas5209 appreciate u Steve!
These 2 did it to see America sleep at hotels take 2 weeks off lmfao
It’s easy to get a safety inspection just pull in to the weight station and ask DOT to inspect your vehicle.
Lol I pulled into a small highway going into UTAH and they went looking for my inspection. Vioala. They were impressed I basically had a good fixed up 1999 F250 and got a green Sticker! Hahah
I’m wondering how they both not only qualify but receive a disability check!!!
Military disability probably. I get 50% and drive non cdl working on getting a CDL.
I'm sorry.... I gotta come back to the comments. Moving the goal post is not the problem.
1)Lack of knowledge/industry.
2)Overpaying for equipment
3)Following RUclips teachers
4)Getting into hot shot
Would you put your teenage child with a fresh license into a new vehicle? Certainly not! So you want to start hotshot - and at the absolute worst time, start out with a truck and trailer that you OWN outright. Get your authority BEFORE quitting your paying job. Let it age. You will be paying your insurance and your dues. Save your money - you will need far more cash than you think. And please, do your research. After obtaining my CDL earlier this year, I used my loadboard to compare available loads. I used a regional search with my non-CDL setup parameters of 30' 8,500 Lbs., CDL hotshot parameters of 40' 20,000 Lbs. and a full semi parameters. I found 18 non-CDL HS loads, 83 CDL HS loads and a whopping 8157 semi loads. I halted my F450 project midstream and decided to keep running my non-CDL setup until I could buy a semi. The high cost of CDL hotshot trailers and appropriate tow vehicle compared to the available semi loads makes it a no brainer for me.
Disability checks ? But still able to work ? This is nonsense !
Thank you for sharing with us. I’m sure it was not easy to talk about your experience.
I bought a older 3500 cash, and a 30 foot gooseneck on 600 month payments. I only have to make 1760 a month to stay a float with trailer payment and insurance. Built a bed in the back, no hotels, made my own sun visors. out 2-3 weeks at a time. Thank you for sharing your story and the mistakes you have made.
That is awsume Great Job!
i started working for a hotshot company in 2017. three months later as a company driver was able to make enough. to pay for a used truck and trailer. 5k down got me a 2014 f350. 4 hours later it got stolen out of a walmart. i had full coverage but in the end they only covered 16k. so i had to cover the rest. 14k just to drive it for 30mins. Took over a year for the insurance to finally pay that. they even made me do n examination under oath because they didn’t believe me. they try to get my gf to say i did something shady. they forced her o fly from washington state to Tx to do her examination under oath even though she was a full time teacher and couldn’t afford to miss those days from work. they said if she didn’t they wouldn’t pay out. The insurance company is called Pronto out of Tx. great for liability but horrible for full coverage
You fell into an unfortunate trap a lot of people do. Dealer prices are often far more than the insurance company's valuation.
This is why it's so important to also take 'gap' insurance when you finance a vehicle - it covers the deficit between insurers valuation/payout and the outstanding finance amount.
@@deezelfairy yeah I usually do . In this case the dealer lied to me and said they didn’t offer that on used vehicles and I would have to get it through my car insurance. I went straight from the dealership to the insurance office and they said no go to the bank. The bank was closed and by the time I got a hold of the bank the truck was gone. They said nope the dealership was supposed to add it
Clearly they didn’t need to work.
they spent TO MUCH money up front. DONT buy a new truck! find a good used one for 1/4 the price!!
These people are crazy.
They're still not thinking straight. If they're both going to go out on the road together, they would need a sleeper cab with dual bunks. Otherwise they're stuck in hotels during resets.