I’m an owner op been so now for four years and your speaking nothing but facts. Stay debt free and you can make it and keep an emergency fund. And I’d add to that will even keep your personal expenses down as well. Keep pushing brother
This is probably the best video on O/O I have seen. I company drove for 25yrs and getting things in place to O/O for the first time. I used to hear all the horror stories thats why I stayed away all these years. But as I look into it if a person sat down and looked at the numbers and business model its very doable "unless you don't put the plan in place" and apparently that is what most do. But great video!
Great job Tyler! Speaking about complex business processes and making it totally understandable! You are an exceptional communicator! Thanks for sharing the O/O journey! Great to hear from you and roll safe out there!
Hey man I saw you earlier this year In Nebraska I was in the Orange auto hauler. To anyone reading this just getting into trucking, when you start as a company driver learn to live off the money you make and pay yourself the same amount when you start making the o/o money.
Been trucking 26 years last 15 as a owner operator plus three other trucks all old school trucks keeps maintenance costs down and no payments I busted my butt and made a name for myself and then was able to get customer freight going out and coming back home we do two turns a week trucks making close to ten thousand a week and if I had to use brokers it would be a lot less but if you are new to owner operator side of trucking it’s going to be a struggle but it’s been this way for years it’s gets good and then you run it for a while then freight rates bottom back out like Covid the tanked and then went to levels we have never seen in the industry 5 to 8 dollars a mile that’s when a lot of people that had no business in the trucking industry got companies going thinking they were fixing to get very wealthy and a year and half later rates are down to same as they were before Covid and then tons of trucking companies were going bankrupt cause they bought all the equipment financed and couldn’t make the payments but rates are little low I hear i don’t use brokers so I don’t keep up on that to much but it is going to be a struggle for a new owner out here right now and you will be running hard
I think you just found your niche. I’ve been watching your channel for some time now, left for a little bit but I’m back!! If you’re looking for views, keep this type of content coming. Good luck driver. ❤
Any business that starts off with not enough cash flow is always destined to fail. Cash is for leveraging more access to wealth. My wife and I bought our own truck and leased on with Schneider. We had a start up fund of 80,000 dollars and a $2400.00 per month truck payment for 60 months. One year later we have one 3 bedroom rental house paid for in New Mexico , and $70,000 cash flow with 150,000 credit line which we haven’t used beyond 10,000 dollars for one year of break down and maintenance expenses. We also only work 31 weeks out of the year. The other 21 weeks are visiting family, hanging out at our home in Colorado, and of course a little bit of travel. So yes having your own truck gives you leverage opportunities as long as you are set up to get leverage.
Great video Tyler, I’m also looking to become an owner operator as well and have the cash to do it, plus an emergency fund for my personal expenses and any truck related repairs. I’m just conflicted if now is a good time to start, I’ve already found a used truck worth around $50k and have a company I’m willing to lease on to.
Buy the truck now, and park it until the market turns. Trucks are cheap right now, insurance is expensive, and loads are not paying unless you are in certain areas. I just bought 3 dump trucks, and converted my business temporarily to entirely dump based class B Local. Making more, and losing less right now with that in my market. I have 3 tractors parked right now, its more worth it too park them, than to run them for what we do.
I hear the pain and I feel the pain! I bought a truck outright and have already spent over 35K on it and I’ve been down for 2 months now! I’m still in it. And it’s because my wife & I were blessed with a good financial situation and made wise investments. A series of unfortunate events since those times, right now I’m just thankful we held on. Hopefully round 2 we can actually bring in some revenue.
Have you thought about doing basically what all these companies are doing with their drivers and thats leasing the truck to the driver? Seems to me that would be the way to go.
Your doing a great job Tyler. There is a easier way to do things and there's a harder way of doing things. I've been a owner opp for 8 years and struggling financially because i started out with debt not a lot but it grew alot. My first truck had for 2yrs crankshaft broke. My 2nd truck after 2yrs I had to rebuild engine for 30k. To make a long story short I'm a slave. To be honest all these hardships I've been through I know God Jesus is real.
I am surprised by the high breakdown rate of new trucks. Sorry if you maintain a truck like an airplane it will never breakdown in its service life, I promise. Aggressive maintenance
Don't put your foot in mouth. He leased his truck to a well-known carrier with contract freight, which pays 0.60 cpm more than spot market freight it's consistent income, and it's a flat rate. Plus, from working there, as a company driver, he studied their lanes. Meaning he have a plan and he's executed it. I believe his message is stable. Try getting butt rapped at super ego or some of these other places that don't allow you to save nor make a profit. You have to plan, and the company has to work with you, not against you, for their greed. Just saying 😌 it's truly possible if you got a true will to succeed and can spot when folks taking advantage.
You have a lot of good information there. However, you really don't need all that studying and upfront money to do it. Not to mention everybody had defined success in a different way. Some want to build a fleet, and some just want independence. So basically all I'm saying is I don't believe your information is bad it's just not the only way. I am interested in how your opinion may change or stay the same in the years to come. Stay safe! 👍😎👍
Thanks for the video! Do you seem to be working more than you did as a company driver? If so how much more? How much time do your additional responsibilities take?
Not enough ROI for me. I'd rather put money into real estate or something. And its great that Crete is debt free and can take lower rates, but kinda sucks for owner ops that these major companies monopolize and take over the market for lower rates. I drove for Crete as a company driver and hated having a big corporation over my shoulders. The small guys is where it's at and should be in trucking imo. But I like the idea of hiring owner ops, not company drivers. Reminds me of a rent to own lease in real estate.
The big carriers and their lobbying arm, the ATA, are coming for small O/O’s throats. If we can get a change in the Fed, we can get representation, instead of them listening to the ATA only.
Why? because the industry is being turned over to a third world work force. So as long as you are fine competing with them, you will be golden. It doesn't matter what those that have been doing it recently say, because its all going away regardless once its completely turned over. Anyone on the road the last 30 have SEEN this with their own eyes.
Did you say you can have a private fleet that you own leased onto cretes authority? How does that work? Would the company drivers in your trucks still have the same managerial resources as a typical crete driver?
Crete would pay my company and my company would pay the driver. Yes the driver would have access to all of Crete’s resources minus the pay package and benefits.
@@TheLivingFreedChannel Thanks man, I really appreciate all of your content. I'm joining Crete this month and am considering the long term possibilities.
Lower rates?!! Brother you putting out bad information. This is one of the reason why trucking is in the toilet because people are taking cheap freight
I think for all the risk you take it's just better off to find a good company job. You're constantly straddling bankruptcy. It's not worth it. Do an update in six months.
@@pantsonfire2216 Have more time off? Maybe if you work for SWIFT or Crete or someone, but for any private carrier even if they give you 15 days of vacation per year, it will be seldom you ever get as much time off as you want. My suggestion is to never answer your phone and don’t read messages; if you’re on vacation, you’re ON VACATION. Don’t read messages or answer calls until the morning of work. The overhead pays for itself over and over, while companies just come with BS and treating you like a slave. As an O/O you can always decide to pause your insurance for a few months and have a REAL vacation. Can’t do that as a company driver!
Y b a owner op all the risk pay same as good company job after tax😢 n plus if u not hiting not building SCAM if u kant get out the seat. Lets nt tlk bt benefits
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I’m an owner op been so now for four years and your speaking nothing but facts. Stay debt free and you can make it and keep an emergency fund. And I’d add to that will even keep your personal expenses down as well. Keep pushing brother
This is probably the best video on O/O I have seen. I company drove for 25yrs and getting things in place to O/O for the first time. I used to hear all the horror stories thats why I stayed away all these years. But as I look into it if a person sat down and looked at the numbers and business model its very doable "unless you don't put the plan in place" and apparently that is what most do. But great video!
Great job Tyler! Speaking about complex business processes and making it totally understandable! You are an exceptional communicator! Thanks for sharing the O/O journey! Great to hear from you and roll safe out there!
Thank you Jon! I hope you have a wonderful day and thank you for watching!
Hey man I saw you earlier this year In Nebraska I was in the Orange auto hauler. To anyone reading this just getting into trucking, when you start as a company driver learn to live off the money you make and pay yourself the same amount when you start making the o/o money.
P.s I was able to net 80k my first full year pulling a flatbed, I’d recommend starting there 👍
Interesting dude , highly informative, keep making these videos , would love to see your journey
Thank you for watching!
Very smart man keep leading bro enjoy the analytical mind in trucking
My advice to you is to talk to experience O/O I have my own Authority now for 4 years and I’m very successful
Great info, thanks man!
God bless you! Maybe i could drive for you one day!
Been trucking 26 years last 15 as a owner operator plus three other trucks all old school trucks keeps maintenance costs down and no payments I busted my butt and made a name for myself and then was able to get customer freight going out and coming back home we do two turns a week trucks making close to ten thousand a week and if I had to use brokers it would be a lot less but if you are new to owner operator side of trucking it’s going to be a struggle but it’s been this way for years it’s gets good and then you run it for a while then freight rates bottom back out like Covid the tanked and then went to levels we have never seen in the industry 5 to 8 dollars a mile that’s when a lot of people that had no business in the trucking industry got companies going thinking they were fixing to get very wealthy and a year and half later rates are down to same as they were before Covid and then tons of trucking companies were going bankrupt cause they bought all the equipment financed and couldn’t make the payments but rates are little low I hear i don’t use brokers so I don’t keep up on that to much but it is going to be a struggle for a new owner out here right now and you will be running hard
Great video thanks for info
I think you just found your niche. I’ve been watching your channel for some time now, left for a little bit but I’m back!! If you’re looking for views, keep this type of content coming. Good luck driver. ❤
Any business that starts off with not enough cash flow is always destined to fail. Cash is for leveraging more access to wealth. My wife and I bought our own truck and leased on with Schneider. We had a start up fund of 80,000 dollars and a $2400.00 per month truck payment for 60 months. One year later we have one 3 bedroom rental house paid for in New Mexico , and $70,000 cash flow with 150,000 credit line which we haven’t used beyond 10,000 dollars for one year of break down and maintenance expenses. We also only work 31 weeks out of the year. The other 21 weeks are visiting family, hanging out at our home in Colorado, and of course a little bit of travel. So yes having your own truck gives you leverage opportunities as long as you are set up to get leverage.
I’m on the same boat as far as starting I would love to set up a time to talk and learn from a veteran as yourself is that a possibility ?
Great video Tyler, I’m also looking to become an owner operator as well and have the cash to do it, plus an emergency fund for my personal expenses and any truck related repairs. I’m just conflicted if now is a good time to start, I’ve already found a used truck worth around $50k and have a company I’m willing to lease on to.
Buy the truck now, and park it until the market turns. Trucks are cheap right now, insurance is expensive, and loads are not paying unless you are in certain areas.
I just bought 3 dump trucks, and converted my business temporarily to entirely dump based class B Local.
Making more, and losing less right now with that in my market. I have 3 tractors parked right now, its more worth it too park them, than to run them for what we do.
Well articulated
You're giving away the game bro 😅
I hear the pain and I feel the pain! I bought a truck outright and have already spent over 35K on it and I’ve been down for 2 months now! I’m still in it. And it’s because my wife & I were blessed with a good financial situation and made wise investments. A series of unfortunate events since those times, right now I’m just thankful we held on. Hopefully round 2 we can actually bring in some revenue.
Have you thought about doing basically what all these companies are doing with their drivers and thats leasing the truck to the driver? Seems to me that would be the way to go.
Your doing a great job Tyler. There is a easier way to do things and there's a harder way of doing things. I've been a owner opp for 8 years and struggling financially because i started out with debt not a lot but it grew alot. My first truck had for 2yrs crankshaft broke. My 2nd truck after 2yrs I had to rebuild engine for 30k. To make a long story short I'm a slave. To be honest all these hardships I've been through I know God Jesus is real.
I would love to drive for you once you purchase your 2nd truck.
Debt free is key I’ll be paying my 22 Pete of middle of next year and year and a half early I’m clearing 11k a month after expenses
What books do you recommend reading, specifically about the trucking industry? Thanks.
I am surprised by the high breakdown rate of new trucks. Sorry if you maintain a truck like an airplane it will never breakdown in its service life, I promise. Aggressive maintenance
not true, emissions are and sensors will go out without warning
You ain’t making 200k a year after your expenses dude. No way
You’re saying you can’t average $8k or so especially with a paid off, well-maintained truck?
Prove he isn’t then.
Know few guys personally doing those numbers.
Don't put your foot in mouth. He leased his truck to a well-known carrier with contract freight, which pays 0.60 cpm more than spot market freight it's consistent income, and it's a flat rate. Plus, from working there, as a company driver, he studied their lanes. Meaning he have a plan and he's executed it.
I believe his message is stable. Try getting butt rapped at super ego or some of these other places that don't allow you to save nor make a profit. You have to plan, and the company has to work with you, not against you, for their greed. Just saying 😌 it's truly possible if you got a true will to succeed and can spot when folks taking advantage.
@@redxxman3895 same here and some (200k +) but just a few I xan count on one hand.
Loaded and rolling is the formula
You have a lot of good information there. However, you really don't need all that studying and upfront money to do it. Not to mention everybody had defined success in a different way. Some want to build a fleet, and some just want independence. So basically all I'm saying is I don't believe your information is bad it's just not the only way. I am interested in how your opinion may change or stay the same in the years to come. Stay safe! 👍😎👍
Where did you buy your truck? What was that process, costs, search etc.
Do you get enough rest to be able to drive lots of miles, you have to have alot of physical endurance and energy?
Amen
Thanks for the video! Do you seem to be working more than you did as a company driver? If so how much more? How much time do your additional responsibilities take?
I live in Alvarado and just started with prime a few months ago. My goal is to be an owner operator. I’d love to chat if you have the time
You could not pay me to run as an OO right now outside of class B local. WAYY to up and down.
Why did you decide to "Not" buy a pre emissions truck?
What books will you recommend for investing ?
Start with “The Simple Path To Wealth” by JL Collins
Can you talk about how the contractor side works and the load selection?
Contractor side works by you knowing how to run a business. A contractor is just that.
Not enough ROI for me. I'd rather put money into real estate or something.
And its great that Crete is debt free and can take lower rates, but kinda sucks for owner ops that these major companies monopolize and take over the market for lower rates.
I drove for Crete as a company driver and hated having a big corporation over my shoulders. The small guys is where it's at and should be in trucking imo. But I like the idea of hiring owner ops, not company drivers. Reminds me of a rent to own lease in real estate.
The big carriers and their lobbying arm, the ATA, are coming for small O/O’s throats.
If we can get a change in the Fed, we can get representation, instead of them listening to the ATA only.
@@JohnRichardson-h4i Exactly. These large companies are in bed with the government. Socialists.
Why? because the industry is being turned over to a third world work force. So as long as you are fine competing with them, you will be golden. It doesn't matter what those that have been doing it recently say, because its all going away regardless once its completely turned over. Anyone on the road the last 30 have SEEN this with their own eyes.
How many miles are you projecting to run yearly? 100, 110, 120, 130k a year?
Did you say you can have a private fleet that you own leased onto cretes authority? How does that work? Would the company drivers in your trucks still have the same managerial resources as a typical crete driver?
Crete would pay my company and my company would pay the driver. Yes the driver would have access to all of Crete’s resources minus the pay package and benefits.
@@TheLivingFreedChannel Thanks man, I really appreciate all of your content. I'm joining Crete this month and am considering the long term possibilities.
That’s awesome man I hope things work out for you!
You will make more money if you put the money in a money market account
Lower rates?!! Brother you putting out bad information. This is one of the reason why trucking is in the toilet because people are taking cheap freight
I think for all the risk you take it's just better off to find a good company job. You're constantly straddling bankruptcy. It's not worth it. Do an update in six months.
Way too much overhead for what it's worth
You can make so much more money as a company driver and have more time off
@@pantsonfire2216 Have more time off? Maybe if you work for SWIFT or Crete or someone, but for any private carrier even if they give you 15 days of vacation per year, it will be seldom you ever get as much time off as you want. My suggestion is to never answer your phone and don’t read messages; if you’re on vacation, you’re ON VACATION. Don’t read messages or answer calls until the morning of work. The overhead pays for itself over and over, while companies just come with BS and treating you like a slave. As an O/O you can always decide to pause your insurance for a few months and have a REAL vacation. Can’t do that as a company driver!
It’s only 5.5-6 out of 10. Too much over exaggeration
Y b a owner op all the risk pay same as good company job after tax😢 n plus if u not hiting not building SCAM if u kant get out the seat. Lets nt tlk bt benefits
If you not hiring drivers all a scam