I'm big on keeping the whole bag but if you don't have the funds to float yourself until invoices are paid, why not factor. The percentage you give up is a business expense that you can wright off on your taxes. So you really never loss anything.
Respectfully speaking it sounds like u well established and I salute u. Like u said a good option is to quick pay if your funds low and after that just stack & grow.
Not Your Average Trucker: This is one of the most important videos I have seen. It points to the fact that as a driver you have got to UNDERSTAND the MATH, before jumping into Quick-Pay or Factoring. It's like "Husseling Backwards" or Robbing YOURSELF because of lack of patience. Yes, it is tough in the beginning if your cash flow is not right, but the key is to wait and get your house in order. Thank you for bringing the TRUTH!
I’m glad I saw this video. I came here to do some research on a company. And found this video. You know what fam, you’re right. I’m not giving any extra bread away. I just can’t do it. Thanks keeping real.
I learned this the hard way😢 i finished my taxes today and man did i find a suprise when they added those factoring fees. 18k in 6 months. I needed my money asap as a owner opp. I started on 2022 of may. From may to dec 2022 i paid them fucking 18k. That shit broke me. But i will learned and i will come out of this
It’s not an issue to use in the beginning, but once you get your feet set you walk away from it. Also one of the features of a factoring company is allowing checks on the brokers so that you know if they are good to work with. There are several benefits to factoring. It just boils down to your needs as a company and you overall operation.
I have been enlightened on factoring companies. It makes so much sense what you’re saying , why would I give my hard earned money to other people ,when I’m the one that did all the work. You always need to suffer a little bit to figure things out so you’re not suffering anymore once you figured it out. Like you said, you got to stash it away to help you get ahead. You are really a true self made TRUCKER. Thanks for the tips .
that the same dumb thing people say about keeping their house Morgage. you lose more money paying the interest than you get back in taxes. you need to listen to this guy he is 100% correct use it if you have to but work on getting your self to the point your not throwing money away
You make a lot of sense.I just staring out and still have not factored a single load I'm not giving my bread away for nothing really. Great video stay safe
KayBee Tha Trucker what’s up, KB? I enjoy your videos too. Between you, this cat, one rich and even YBE, you guys giving million dollar game for free. Appreciate it. I’m a second generation driver, picking up my Volvo next week.
Appreciate your honesty. I am looking into getting into dispatch and when I heard about this part,I was like what! I'm on that same, my money! Don't want to hustle backwards!
Finally a hustler with sense, I drop my load , pay me what you owe me , once I got the money rolling in , 30 days could be tomorrow, 90 days could be tomorrow, dropped a load 90 days ago 🤷🏾♂️
I feel the exact same way. Both factoring and quick pay. I'd rather wait for my money and it's refreshing to see I'm not the only one who thinks this way .
I love how all these RUclipsrs say "then maybe trucking isn't for you" if your journey into trucking doesn't fit their view on how it should be. Guess what? 1 or 2 percent doesn't justify leaving trucking. You can always give up factoring after saving enough capital.
@@RomanEmpire16 compass factoring is month to month. They even drop it down to 1% if you gross 500 k. Very nice team of ladies running this company if you haven't found someone mention my name and talk to them. They have helped me a lot starting out.
Difference between companies if you have driver you don’t have to do factoring but if you have owner operator running on interstate and making over 30k and if you have 15 of them they need their money right away they already paying it in dispatch commission ..
Create an invoice and submit it. All brokers now have an email address to submit invoices. You can use MS Word to create generic invoice. Include your business name, load info and payment information.
He's right. When you're small it doesn't seem like a lot. But just think if you have a truck grossing $2k a day 5 days a week all year. (4.5 wks/mon) that's upwards of $8k profit you just gave away if at 1.5%. All because you couldn't wait. And if you only carry for good shippers , then you don't have to worry about calling collectors.
The same people saying they wont give their money out for free, Hustling backwards blah blah blah, those are the same people financing cars/Tv's paying MAXIMUM Interest with overdue LATE Credit cards. 🤣, I say if you do NOT have a few stacks saved up then go ahead and DO Factoring, every business has expenses its very important to stay within the Safety Threshold, its always good to have a solid amount at hand you might need that money sooner than you imagined
Just obtained the CDL... man, your encouragement is invaluable. All this info you giving Graciously to other guys is ... just excellent. Can't thank you enough for the details.
the factoring hussle, hold back the truckers pay, then charge them on their impatience.somebody had to think how to get extra money out the driver for literally nothing
yes sir!! thank you for breaking it down... I completely agree. Quick Pay through the Broker in the beginning for some quick capital and that's it. You don't need a factoring company after that... smart brother!
How do you figure that you're losing if you factor in the additional rates? Anything that you get on top of your original number is a plus and not a loss. This is basic math.
i respect the principle (ha pun) .. I work for a factoring co, we do 1hr funding which is better than most of the competition -- everybody gotta hustle :) I learned alot about trucking n truckers in the past year, a lot of respect for you alll
@@NotYourAverageTrucker I jus answered the question , you make the right points ... except you were saying in the vid that they get money in a day or two / quick pay , my only thing is we do it in an hour , which might be better it jus depends ... I'll bow out
Hey how are you doing I just subscribed to your channel I like information you just gave within a week a couple days I’m in the process of trying to get a box truck or a cargo van in the beginning nothing is easy but I’m gonna continue to watch the videos learn from it and experience some of the things that you’re talking about
I Agree. Using that money toward a Dispatch service that understands the economy and what changes daily is a huge advantage to increase profits. Also, continue to drive trucking rates up in the market. Excellent video!
I'm 50/50 on factoring. Because realistically it depends on what companies you dealing with. The companies that offer Quick Pay with no % out are also the companies that have the cheapest freight such Convoy, Uber, JB Hunt etc Bigger name companies. Brokers that haven't been around for years Pay way more but I factor those companies Non recourse because it's highly possible you wont get paid. TOO risky. I've seen brokers that been around for 5+ years with good credit up and disappear and not pay trucking companies. So the reason I factor some loads is to guarantee I get paid for the work.
@@donaldducks3916 yea a broker just filed bankruptcy and didn't pay the factoring company i used. The factory company called me wanting to get their 19k back but I got non-recorse so they gone have to take that loss.
I'm trucking port of long beach terminal all day good video for those who start out if you got to go ahead but try not to spend all your bread factory companies good for at least 2-3 ? Months
You really got me going og you talking that talk this company life is for the birds. I just gotta stack and work on my credit. I was really feeling down before I saw this
We are trying to get rid of factoring but our drivers want weekly pay - which is the problem. We can figure out a way to get fuel to keep the trucks running but we are still working on getting the drivers paid when they need it.
Appreciate the info family. Your the 1st. Dude that said what i was thinking. Im about to start my business and i have got some good info from youtube dudes already in the business. I'm a subscriber for sure
I feel you but alot of us are not in that position to wait 30 days or 15 days like that would wipe us out before we get paid SMH have to wait to get paid just to have gas to make more money SMH praying you don't have a blowout or some shit. 100% real shit I just found a trailer to rent after being turned down from everyone else about renting but now I'm not going to get it cs the work I was gonna do with the trailer doesn't offer quick pay so I'm not even going to get it now pissed off about it and I ain't trying to go over the road with it cs that was another thing I could do but I know I need 3 brake drums like they might be get put out of service if someone wanted to so I can't take a chance of being in west bumblefuck and get put out of service and can't even afford the repair this is the start of my second yr and I had a good 1st yr around 170k but it damn sure don't feel like it and after I said I won't gonna celebrate Christmas and got everyone mad wife and 4kids I ended up celebrating and spent alittle more than I set well ima say she spent more than I set for us and shit was slow at the end of the yr and had to renew my tags and insurance fucking ruff now bro so I feel you but that's for you if you good already I'm trying to get good so I need quick pay asap bills about to come back around to SMH shit in the way nobody wants to give me a loan I don't have enough business credit shit is deeper than these ppl know out here but I'm fighting and if I make it to the middle of next month I won't look back again I know that. Truck is good rebuilt motor New bearings u joints tires and alittle more but I'm not worried about it breaking down on me but this is a big money business and I wish I would have waited to get the motor rebuilt if I knew the 4th quarter was gonna be like this but it is what it is so moral of the venting is stack your money and you won't be scrambling like me at the end/beginning of the yr and you won't need a factoring company or quick pay!!!!!!! This is a big money business so be prepared in all aspects!!!!!
Not Your Average Trucker Word I appreciate it, and trust me this when I get out this whole I ain't going back this wasn't my main source of income either but this is my dream and passion but I left the other income alone saying with the truck I'll be good and I am and like I said I had a good yr but gas and life and fees and renewals and my insurance hurt me in Nov cs I had to put like 4700 for a down payment cs my insurance dropped me got into an accident the 2nd month driving my own shit SMH I been driving 7 yrs never had an accident get my own shit and hit a mf in my blind spot and they totaled his car even tho it was drive able just his driver side quarter panel had a dent in it so that's how my luck is SMH then had to renew the tags in Dec I was thinking it was gonna be like 8 hundred nope 1300 to renew SMH I tell you I need my other income now but it defeats the purpose of me buying my own truck and I can't put my family or myself in jeopardy anymore just trying to keep on the straight and narrow feel me but I don't I still scratch my head and be tempted to go back but one thing for sure if I could do it again I would have came out with alittle more money to avoid all the bs that happens in your 1yr example tried to rent trailers in the beginning only to hear them say no you haven't been in business for a yr yet and then when a yr is up oh they say we'll you don't have enough business credit lol well fuck it go buy my own trailer don't need nobody help, that's what more money can do for you. I came in the game before I got my truck with 30k I recommend 50k to be really good comfortable cs it won't no bank loan or credit cards or lenders this is from the ground up and if you come in this from the ground up like me I recommend 50k unless you got good credit or ppl to help you or something damn sure wish I would have came in with 50
Why would someone who takes quick pay also factor on top of that. That’s dumb asf 😂😂🤣🤣 I’m just a dispatcher and I’m confused where the logic would come in at doing that. You either factor or quick or standard /ach 😂😂🤣 and if you have 11 trucks you wouldn’t be paying 2% in factoring or at least you shouldn’t be . It should be a little under that. I just can’t get past who would choose a factor on top of quick pay 🤣😂😂🤣🤣😂🤦🏽♀️
a joke at the end.I don't think a guy should get into an owner situation unless they have some serious cash stacked up and Reserve. whether a guy wants to lease or outright own or rebuild. There's always something nickeling and diming someone's expenses. But the biggest reason I see a lot of these dudes taking the quick money is. And it's kind of a joke but it's true. Child support. Because Pussy is the one thing you never stop paying for. Especially if it was good.
What's going on big dog? I haven't seen a video from you in a while. How have you been? I have a question for you. How are you doing in business right now? The reason I ask that is, I have to make a move. I have about $60k saved. I need to find a place to stay and I need to find a new job. I can buy a house for $55k that needs a lot of work.... Or I can buy a used freightliner truck, and try to start my own trucking company. Which is a wiser decision?
Definitely would not do either of those choices.... house sub $60k and still on the market for a reason. People with deeper pockets have already passed on the deal most likely. Freight rates are trash right now. If you are paying cash for a truck $30k you may be able to make that money back in four months are so...
Love the Intel my G, cause you make alot of since. But also when your money is up you can afford to not do certain things. But thanks for your idea Bic up to you sincerely Whoady the Don 💪💪
@@NotYourAverageTrucker I'm new to your channel I get it. Some people just don't understand. In this case the best things defiantly come to those who can wait. An If you only have one truck and you do break down for a month. Your still going to have back checks coming in for about a month also while you plan out your next move. A slow start can pay off in a down time set back here also.
Factoring companies are like banks. If your trying to get the top accounts in this business..your going to need a bank..unless your loaded with plenty money. The longer you can let your carrier wait to be paid the better accounts you can get. Some wait up to 90 days but at the sametime you can demand a higher rate. And I've seen carriers get $3-4 a mile while mr I want to get paid now get only $1.50-2.00 pm. This is the purpose of banks ie factoring companies.
You kinda told the story backwards in my opinion . If you need factoring @ 1st fine no contractual agreements with termination fees , but once your off and running there should be no need for factoring . Unless you tricking and smoking up that Bread . With 11 trucks you shouldn’t need a factoring company . Good information ❕
Okay I do understand your point. But from listening to you and when you first started you said you was in the streets. So obviously you had money to support you while you was waiting for yourself to get paid. The message your sending to not start their business isn't the best message to give. They can start their business. Plenty of people start a business and are fronted. This is streets 101, if you get into the street game most plugs and connects want a percentage of the money on what ever they gave you. Don't be dependent on a factoring company forever but they are a good way to get in the business until you don't need them anymore. Don't not start your business, not good advice. Check out Manny's extrodinary movement channel, we both use factoring companies. Just be prosperous.
@@NotYourAverageTrucker Maybe..but definitely not against it. Just depends on the situation in my opinion. I encourage everyone to be self sufficient but sometimes you need a hand.
I think the same way. Why pay money for getting my own money.? But what a truck owner do when the customer or broker just don’t want to pay? Any tips? Thanks
I’m a watch a lot of your videos educate myself on here maybe in a few days or a week I’ll be having a boxer or a cargo van what do you think about the cargo van
you ever look at utility bills at your house? you use electricity, internet, gas, water today and don't pay for it for 30 days... maybe they should make you pay daily also? 🤷🏾♂️
This is quality info. I'm gonna start up within a year and have noticed alot of these dudes spending outrageous amounts of money per month on these bullshit factoring companies. Fuck that it's just more money coming out of your pocket
I am new to the trucking business and we just started taking loads for flatbeds, I signed up with a factoring that takes 2.75% but was thinking on stepping away from them to save that 2.75%. My question is do we send the invoice to the contact information that’s on the rate con to get paid for our loads or is there another way ?
Tyler Robertson in the words of Grant Cardone, Dave Ramsey is an idiot and considering he is worth hundreds of millions of dollars and uses debt, ill run with the richer guy
Hey man, I really appreciate the information given here. I honestly don’t know why people bash you for giving out helpful information. Like they say You can lead a dog to a bone but it’s up to that dog to take it and make use of it lol respect bro ✊🏽
Factoring can be good especially if you are O/O and your own authority to broker loads. When you're looking for carriers, it does look good your credit is excellent and your company has a factoring company. Do you fam', but try not to be critical on individuals who use them. Personally, I'm not trying to wait.
I have a box truck i do my business deliveries with, now i want to offer my clients a delivery service to shipp their contents. Id like to know about the insurance id need to start things off!! ( other than viehcle insurance) Cheers bro looking forward to the advice.
@@NotYourAverageTrucker I still dont have the authority.. I just deliver my own product, which are pallets. I will be sitting down with a few of my clients to offer a new kind of service. As of now im thinking cargo insurance may be all i need but id rather look around to get more knowledge before sitting with them.
@@NotYourAverageTrucker I drive a box truck with a regular lincense. Do any different rules apply there?. Ill check that link when im on break!! Thanks fir that boss!!
I'm big on keeping the whole bag but if you don't have the funds to float yourself until invoices are paid, why not factor. The percentage you give up is a business expense that you can wright off on your taxes. So you really never loss anything.
Respectfully speaking it sounds like u well established and I salute u. Like u said a good option is to quick pay if your funds low and after that just stack & grow.
Not Your Average Trucker: This is one of the most important videos I have seen. It points to the fact that as a driver you have got to UNDERSTAND the MATH, before jumping into Quick-Pay or Factoring. It's like "Husseling Backwards" or Robbing YOURSELF because of lack of patience. Yes, it is tough in the beginning if your cash flow is not right, but the key is to wait and get your house in order. Thank you for bringing the TRUTH!
Knowledge is always POWER
I’m glad I saw this video. I came here to do some research on a company. And found this video. You know what fam, you’re right. I’m not giving any extra bread away. I just can’t do it. Thanks keeping real.
I learned this the hard way😢 i finished my taxes today and man did i find a suprise when they added those factoring fees. 18k in 6 months. I needed my money asap as a owner opp. I started on 2022 of may. From may to dec 2022 i paid them fucking 18k. That shit broke me. But i will learned and i will come out of this
It’s not an issue to use in the beginning, but once you get your feet set you walk away from it.
Also one of the features of a factoring company is allowing checks on the brokers so that you know if they are good to work with. There are several benefits to factoring. It just boils down to your needs as a company and you overall operation.
Loadboards gone tell you if that broker has good credit or not.
That’s real talk he keeping it 💯💯💯💯💯💯💯
I've worked for a factor/ABL for 20 years. Good advice you're giving. 👍
I have been enlightened on factoring companies. It makes so much sense what you’re saying , why would I give my hard earned money to other people ,when I’m the one that did all the work. You always need to suffer a little bit to figure things out so you’re not suffering anymore once you figured it out. Like you said, you got to stash it away to help you get ahead. You are really a true self made TRUCKER. Thanks for the tips .
Factoring Fees are Tax Deductable. (i.e. Not a Loss) ;-)
that the same dumb thing people say about keeping their house Morgage. you lose more money paying the interest than you get back in taxes. you need to listen to this guy he is 100% correct use it if you have to but work on getting your self to the point your not throwing money away
A tax deduction is still money that you spent
Aye Tony post that shit again - everyone is not smart with intelligence.
You make a lot of sense.I just staring out and still have not factored a single load I'm not giving my bread away for nothing really. Great video stay safe
Your video is great because I was looking for someone who’s on the other side of factoring and I saw your video. Thanks for the in-depth man
Free game. 💯
KayBee Tha Trucker what’s up, KB? I enjoy your videos too. Between you, this cat, one rich and even YBE, you guys giving million dollar game for free. Appreciate it. I’m a second generation driver, picking up my Volvo next week.
Not Your Average Trucker Appreciate you, doc!
Appreciate your honesty. I am looking into getting into dispatch and when I heard about this part,I was like what! I'm on that same, my money! Don't want to hustle backwards!
Finally a hustler with sense, I drop my load , pay me what you owe me , once I got the money rolling in , 30 days could be tomorrow, 90 days could be tomorrow, dropped a load 90 days ago 🤷🏾♂️
I feel the exact same way. Both factoring and quick pay. I'd rather wait for my money and it's refreshing to see I'm not the only one who thinks this way .
I love how all these RUclipsrs say "then maybe trucking isn't for you" if your journey into trucking doesn't fit their view on how it should be. Guess what? 1 or 2 percent doesn't justify leaving trucking. You can always give up factoring after saving enough capital.
@@NotYourAverageTrucker I like your video by the way. Just seems to be everyone's go to answer
Like how you put that cause I’ll factor for 3-6 months to build my cap & then I’m off to the running 🔥🔥🔥👏🏽👏🏽👏🏽👏🏽
@@Philthaentrepreneur I thought they have you on contract for a yr with 5k termination fees!!?
@@RomanEmpire16 compass factoring is month to month. They even drop it down to 1% if you gross 500 k. Very nice team of ladies running this company if you haven't found someone mention my name and talk to them. They have helped me a lot starting out.
I was just about to ask that. Thanks!
As a future new broker i would be willing to take the hit of the 2% so that the carriers stay happy
You hustling backwards
Patience is a virtue - More people need to recognize this.
Difference between companies if you have driver you don’t have to do factoring but if you have owner operator running on interstate and making over 30k and if you have 15 of them they need their money right away they already paying it in dispatch commission ..
could you do a video on how you submit invoices without using a factoring company or quick pay?
Create an invoice and submit it. All brokers now have an email address to submit invoices. You can use MS Word to create generic invoice. Include your business name, load info and payment information.
@@NotYourAverageTrucker do you have a business mail box through ups? how does that work? by chance
@@NotYourAverageTrucker also what if im the broker would I email it to the shipper?
whomever you are doing business with will tell you where they want you to submit invoices whether it's electronic or whatever.
He's right. When you're small it doesn't seem like a lot. But just think if you have a truck grossing $2k a day 5 days a week all year. (4.5 wks/mon) that's upwards of $8k profit you just gave away if at 1.5%. All because you couldn't wait. And if you only carry for good shippers , then you don't have to worry about calling collectors.
Thanks to you I just quit Factoring company I agree with you. I am struggling r now cause of the Letter or release but I’ll do this.
The same people saying they wont give their money out for free, Hustling backwards blah blah blah, those are the same people financing cars/Tv's paying MAXIMUM Interest with overdue LATE Credit cards. 🤣, I say if you do NOT have a few stacks saved up then go ahead and DO Factoring, every business has expenses its very important to stay within the Safety Threshold, its always good to have a solid amount at hand you might need that money sooner than you imagined
I pay cash for everything in life including real estate.... I don't believe in paying interest. But hey do you.... 👍🏾
Just obtained the CDL... man, your encouragement is invaluable. All this info you giving Graciously to other guys is ... just excellent.
Can't thank you enough for the details.
the factoring hussle, hold back the truckers pay, then charge them on their impatience.somebody had to think how to get extra money out the driver for literally nothing
You cut through the crap and just delivered common sense and truth! Great video!!
Some more examples of hustling backwards: payday advances, paying HR block a fee to get your refund check same day
yes sir!! thank you for breaking it down... I completely agree. Quick Pay through the Broker in the beginning for some quick capital and that's it. You don't need a factoring company after that... smart brother!
Boooosss taaaallllk💪🏾 them mailbox checks though! Stay up bro!!
How do you figure that you're losing if you factor in the additional rates? Anything that you get on top of your original number is a plus and not a loss. This is basic math.
I do understand your view. But that extra math could also be in your pocket.
i respect the principle (ha pun) .. I work for a factoring co, we do 1hr funding which is better than most of the competition -- everybody gotta hustle :)
I learned alot about trucking n truckers in the past year, a lot of respect for you alll
KayCeesFinest what factoring company you work for
@@HustleManeTV TAFS
@@NotYourAverageTrucker I jus answered the question , you make the right points ... except you were saying in the vid that they get money in a day or two / quick pay , my only thing is we do it in an hour , which might be better it jus depends ... I'll bow out
I feel what you sayin bro but until I get to the point where I feel like I don’t want mine RIGHT NOW imma keep fuckin wit it 🤷🏾♂️
Hey how are you doing I just subscribed to your channel I like information you just gave within a week a couple days I’m in the process of trying to get a box truck or a cargo van in the beginning nothing is easy but I’m gonna continue to watch the videos learn from it and experience some of the things that you’re talking about
I was about to give my money away🤣🤣🤣🤣🤣🤣 thanks for this bro💯💯💯
he said it in the video its good for starting but not for fleet owner with multiple trucks
I Agree. Using that money toward a Dispatch service that understands the economy and what changes daily is a huge advantage to increase profits. Also, continue to drive trucking rates up in the market. Excellent video!
Dispatch service? 😂🤣👎🏾👎🏾👎🏾👎🏾👎🏾 That's a waste of money... scam of the century ⛔🚫🚫🚫
I feel you I’m a trucker with my own authority took this approach too
You know what's crazy? If you're spending 500 on an oil change. Talk about being ripped off.
I'm 50/50 on factoring. Because realistically it depends on what companies you dealing with. The companies that offer Quick Pay with no % out are also the companies that have the cheapest freight such Convoy, Uber, JB Hunt etc Bigger name companies. Brokers that haven't been around for years Pay way more but I factor those companies Non recourse because it's highly possible you wont get paid. TOO risky. I've seen brokers that been around for 5+ years with good credit up and disappear and not pay trucking companies. So the reason I factor some loads is to guarantee I get paid for the work.
Seen companies destroyed because they had a 60 day wait on money and company went bankrupt.
@@donaldducks3916 yea a broker just filed bankruptcy and didn't pay the factoring company i used. The factory company called me wanting to get their 19k back but I got non-recorse so they gone have to take that loss.
I'm trucking port of long beach terminal all day good video for those who start out if you got to go ahead but try not to spend all your bread factory companies good for at least 2-3 ? Months
IF you have enough Money to wait 15, 20, 30 or 60 Days to Get Paid..... You don’t need
You really got me going og you talking that talk this company life is for the birds. I just gotta stack and work on my credit. I was really feeling down before I saw this
We are trying to get rid of factoring but our drivers want weekly pay - which is the problem. We can figure out a way to get fuel to keep the trucks running but we are still working on getting the drivers paid when they need it.
All that shit sounds hot until major break downs but I feel you on the logic side of this video
It does teach you to practice self control.
Appreciate the info family. Your the 1st. Dude that said what i was thinking. Im about to start my business and i have got some good info from youtube dudes already in the business. I'm a subscriber for sure
This vid smacked me in the face. I was looking and it’s so true!
When do you pay your drivers? Most drivers want a weekly pay.
DG STAR EXPRESS Im sure he pays every week thats why he’s probably lying 🤥
I feel you but alot of us are not in that position to wait 30 days or 15 days like that would wipe us out before we get paid SMH have to wait to get paid just to have gas to make more money SMH praying you don't have a blowout or some shit. 100% real shit I just found a trailer to rent after being turned down from everyone else about renting but now I'm not going to get it cs the work I was gonna do with the trailer doesn't offer quick pay so I'm not even going to get it now pissed off about it and I ain't trying to go over the road with it cs that was another thing I could do but I know I need 3 brake drums like they might be get put out of service if someone wanted to so I can't take a chance of being in west bumblefuck and get put out of service and can't even afford the repair this is the start of my second yr and I had a good 1st yr around 170k but it damn sure don't feel like it and after I said I won't gonna celebrate Christmas and got everyone mad wife and 4kids I ended up celebrating and spent alittle more than I set well ima say she spent more than I set for us and shit was slow at the end of the yr and had to renew my tags and insurance fucking ruff now bro so I feel you but that's for you if you good already I'm trying to get good so I need quick pay asap bills about to come back around to SMH shit in the way nobody wants to give me a loan I don't have enough business credit shit is deeper than these ppl know out here but I'm fighting and if I make it to the middle of next month I won't look back again I know that. Truck is good rebuilt motor New bearings u joints tires and alittle more but I'm not worried about it breaking down on me but this is a big money business and I wish I would have waited to get the motor rebuilt if I knew the 4th quarter was gonna be like this but it is what it is so moral of the venting is stack your money and you won't be scrambling like me at the end/beginning of the yr and you won't need a factoring company or quick pay!!!!!!! This is a big money business so be prepared in all aspects!!!!!
Not Your Average Trucker Word I appreciate it, and trust me this when I get out this whole I ain't going back this wasn't my main source of income either but this is my dream and passion but I left the other income alone saying with the truck I'll be good and I am and like I said I had a good yr but gas and life and fees and renewals and my insurance hurt me in Nov cs I had to put like 4700 for a down payment cs my insurance dropped me got into an accident the 2nd month driving my own shit SMH I been driving 7 yrs never had an accident get my own shit and hit a mf in my blind spot and they totaled his car even tho it was drive able just his driver side quarter panel had a dent in it so that's how my luck is SMH then had to renew the tags in Dec I was thinking it was gonna be like 8 hundred nope 1300 to renew SMH I tell you I need my other income now but it defeats the purpose of me buying my own truck and I can't put my family or myself in jeopardy anymore just trying to keep on the straight and narrow feel me but I don't I still scratch my head and be tempted to go back but one thing for sure if I could do it again I would have came out with alittle more money to avoid all the bs that happens in your 1yr example tried to rent trailers in the beginning only to hear them say no you haven't been in business for a yr yet and then when a yr is up oh they say we'll you don't have enough business credit lol well fuck it go buy my own trailer don't need nobody help, that's what more money can do for you. I came in the game before I got my truck with 30k I recommend 50k to be really good comfortable cs it won't no bank loan or credit cards or lenders this is from the ground up and if you come in this from the ground up like me I recommend 50k unless you got good credit or ppl to help you or something damn sure wish I would have came in with 50
How do you guys do invoice if yall dont mind? Whats the process for getting paid when not using a factoring company.
literally the same process.... submit rate/invoice/BOL to the customer /broker and get paid
I appreciate this advice. I'm new to trucking. Stay real!!!
Why would someone who takes quick pay also factor on top of that. That’s dumb asf 😂😂🤣🤣 I’m just a dispatcher and I’m confused where the logic would come in at doing that. You either factor or quick or standard /ach 😂😂🤣 and if you have 11 trucks you wouldn’t be paying 2% in factoring or at least you shouldn’t be . It should be a little under that. I just can’t get past who would choose a factor on top of quick pay 🤣😂😂🤣🤣😂🤦🏽♀️
That 💩 like cashing your check at the liquor store.
a joke at the end.I don't think a guy should get into an owner situation unless they have some serious cash stacked up and Reserve.
whether a guy wants to lease or outright own or rebuild.
There's always something nickeling and diming someone's expenses.
But the biggest reason I see a lot of these dudes taking the quick money is. And it's kind of a joke but it's true.
Child support.
Because Pussy is the one thing you never stop paying for. Especially if it was good.
🤣
Ohhhh my gawd
All Facts,Salute Drivah!!!💯💪🏾
What's going on big dog? I haven't seen a video from you in a while. How have you been? I have a question for you. How are you doing in business right now? The reason I ask that is, I have to make a move. I have about $60k saved. I need to find a place to stay and I need to find a new job. I can buy a house for $55k that needs a lot of work.... Or I can buy a used freightliner truck, and try to start my own trucking company.
Which is a wiser decision?
Definitely would not do either of those choices.... house sub $60k and still on the market for a reason. People with deeper pockets have already passed on the deal most likely. Freight rates are trash right now. If you are paying cash for a truck $30k you may be able to make that money back in four months are so...
thank you for sharing, are you driving a day cab in this video?
If you dont use factoring, how would you check credit history of brokers?
Love the Intel my G, cause you make alot of since. But also when your money is up you can afford to not do certain things. But thanks for your idea Bic up to you sincerely Whoady the Don 💪💪
Man we in this thing to make money 💰 not wait 30-45 days to get paid
I understand what you mean however you should rethink your statement as well you're not hustling backwards if you are profitable.
Im listening to this guy, not good. Bad advice, just arrogant. You need capital PERIOD. !
@@NotYourAverageTrucker I'm new to your channel I get it. Some people just don't understand. In this case the best things defiantly come to those who can wait. An If you only have one truck and you do break down for a month. Your still going to have back checks coming in for about a month also while you plan out your next move. A slow start can pay off in a down time set back here also.
Factoring companies are like banks. If your trying to get the top accounts in this business..your going to need a bank..unless your loaded with plenty money. The longer you can let your carrier wait to be paid the better accounts you can get. Some wait up to 90 days but at the sametime you can demand a higher rate. And I've seen carriers get $3-4 a mile while mr I want to get paid now get only $1.50-2.00 pm. This is the purpose of banks ie factoring companies.
@@NotYourAverageTrucker I'm SHOCKED at the amount of drivers that ain't pickin up what your layin down!!! No wonder they need a factoring company....
You kinda told the story backwards in my opinion . If you need factoring @ 1st fine no contractual agreements with termination fees , but once your off and running there should be no need for factoring . Unless you tricking and smoking up that Bread . With 11 trucks you shouldn’t need a factoring company . Good information ❕
Okay I do understand your point. But from listening to you and when you first started you said you was in the streets. So obviously you had money to support you while you was waiting for yourself to get paid. The message your sending to not start their business isn't the best message to give. They can start their business. Plenty of people start a business and are fronted. This is streets 101, if you get into the street game most plugs and connects want a percentage of the money on what ever they gave you. Don't be dependent on a factoring company forever but they are a good way to get in the business until you don't need them anymore. Don't not start your business, not good advice. Check out Manny's extrodinary movement channel, we both use factoring companies. Just be prosperous.
@@NotYourAverageTrucker Maybe..but definitely not against it. Just depends on the situation in my opinion. I encourage everyone to be self sufficient but sometimes you need a hand.
I think the same way. Why pay money for getting my own money.? But what a truck owner do when the customer or broker just don’t want to pay? Any tips? Thanks
We talking about one truck tho. Also just starting too.
I’m starting out and you can’t imagine the number factoring companies trynna finesse me. It aint happening
Brut dropping Gems SALUTE
How much estimating... could a authorize with his first truck and home every day or every other day make per week or month ?
@@NotYourAverageTrucker I'm Columbus ga area.... hour and a half away from Atlanta.
Hey bud. Are you in CLT? I'd love to meet up with you brother.
How about them cowboys🏈... Great content as usual... Thanks for your wisdom😊
@@NotYourAverageTrucker 😒😂😂
I’m a watch a lot of your videos educate myself on here maybe in a few days or a week I’ll be having a boxer or a cargo van what do you think about the cargo van
Amen
Sounds good out loud however, some brokers will refuse to pay and rip you off.
I've been in business since 2007 and have never been stiffed on an invoice... I also don't deal with no name brokers 👍🏾
The banks do that and the ATM on the street level 😭
The real question is, why does it take 30 fucking days to get paid? You want my service now, you can pay me now...
you ever look at utility bills at your house? you use electricity, internet, gas, water today and don't pay for it for 30 days... maybe they should make you pay daily also? 🤷🏾♂️
This is quality info. I'm gonna start up within a year and have noticed alot of these dudes spending outrageous amounts of money per month on these bullshit factoring companies. Fuck that it's just more money coming out of your pocket
I agree 100%
U right !!!!! That just real
✍🏽️✍🏽️ Knowledge Speaks
I am new to the trucking business and we just started taking loads for flatbeds, I signed up with a factoring that takes 2.75% but was thinking on stepping away from them to save that 2.75%. My question is do we send the invoice to the contact information that’s on the rate con to get paid for our loads or is there another way ?
most rate confirmations say where to send paperwork. Normally an email address. You can always call the broker to confirm.
@@NotYourAverageTrucker How do you run credit checks on brokers without a factoring company?
you see their credit rating on the load board...
I needed this free game 💪🏾
Sounds like you have some Dave Ramsey influence, keep it up
Tyler Robertson in the words of Grant Cardone, Dave Ramsey is an idiot and considering he is worth hundreds of millions of dollars and uses debt, ill run with the richer guy
Hey man, I really appreciate the information given here. I honestly don’t know why people bash you for giving out helpful information. Like they say You can lead a dog to a bone but it’s up to that dog to take it and make use of it lol respect bro ✊🏽
Question. Is it possible that the Broker won't pay you after you send paperwork
if you book a load with a shady broker it's possible to not get paid... I've been in business since 2007 and I have never been ripped off by a broker
I see your point
What you said.
How much you charge to dispatch
So if someone is just starting out is it a good idea to start out waiting 30-45 days? or be in the poor house
manage your money properly... #1 rule in business
Finessin the hell! out tht stick at the end 😂💪 I cant wait to learn how to drive stick
Factoring can be good especially if you are O/O and your own authority to broker loads. When you're looking for carriers, it does look good your credit is excellent and your company has a factoring company. Do you fam', but try not to be critical on individuals who use them. Personally, I'm not trying to wait.
Mann no way he got 11 trucks and still driving 😂😂😂😂
How did you get 11 trucks dude
30 days some of these people pay 40 to 50 days
I have a box truck i do my business deliveries with, now i want to offer my clients a delivery service to shipp their contents. Id like to know about the insurance id need to start things off!! ( other than viehcle insurance)
Cheers bro looking forward to the advice.
@@NotYourAverageTrucker I still dont have the authority.. I just deliver my own product, which are pallets. I will be sitting down with a few of my clients to offer a new kind of service. As of now im thinking cargo insurance may be all i need but id rather look around to get more knowledge before sitting with them.
I must admit im not 100% sure what "authority" means in the trucking sense..
@@NotYourAverageTrucker I drive a box truck with a regular lincense. Do any different rules apply there?.
Ill check that link when im on break!! Thanks fir that boss!!
@@NotYourAverageTrucker oh.. Okay let me double check on thay.
Does truckingOffice has software for 2290 forms???
Why buy a pie and only get to eat 80% of it?
Wow thank you soo much. This video was super encouraging for me.
Truth is your probably spending the same or more because your credit cards are full month to month
HEY ... THANKS FOR GETTING BACK AT ME IM LOOKING TO GET BACK INTO THE INDUSTRY..YOU HAVE ANY GOOD SUGGESTIONS?
Are fuel cards worth it?Or is it a scam? What do u use
@@NotYourAverageTrucker idk just asking bro. Since like in pilot u get fuel discounts but the price is way higher than any other gas station
Not Your Average Trucker what fuel card is that ?
Whole facts!!!! And I can tell you from NY!!!! Lmao!!!