anyone have any trucking experience?

Question

As I get my real estate investing lined out, I've been playing with the idea of buying a couple of trucks if I ever have a little cash to throw around in the near future. My dad has been a truck driver most of my life, so I am familiar with the business, and it as always held my interests, so as I daydream about all this real estate money I'm gonna have sitting around waiting to make me more money, I was just curious if anyone has ever had any experience in the trucking business they would share. (This is the closest related topic that I had to choose from so don't hang me if I should have posted somewhere else....)

Adam F · Answer

My neighbor had his own transport company for 20 years. Owner operator with a couple of emplyees. I think he has more regrets from being away from his family for great lengths of time then anything else. Definitely didnt make him wealthy or happy though.

Aaron Montague · Answer

@Daniel Warren its sounds like you should buy a truck stop or two.

Ryan Watson · Answer

You handle alot of money but you dont make alot of money.

Over seas shipping containers is a pretty nice gig, but not many like to put up with the rail yards.

Karen Margrave · Answer

@Daniel Warren  I didn't mean to come off so harsh. I understand the allure of trucking. It's just it's a tough business, with smaller and smaller profit margins, increasing regulations, etc., and that's before you start taking into account all the repairs, etc. The tires alone cost a fortune! In reality, the money from real estate would probably be needed to carry the trucks, not vice versa. But, good luck in whatever you do.

Daniel Warren · Answer

@Karen Margrave

hi thanks for the reply. yeah I know its a tough business. I would have someone in place doing the actual mananging, I just plan on forming the biz and buying the trucks! just an idea. any money it made I would use to buy more real estate.

Karen Margrave · Answer

@Daniel Warren  I come from a family of truck owners. One of my brothers had 50 of them, they were flatbeds, and he hauled things like steel etc. My other brother owned a truck and hauled for various people. My father drove truck for many years, and had his own truck. Trucking requires very hard, long hours, and the expenses involved are high. Keeping track of the regulations, highway taxes, permits for the types of hauling you're doing, drivers logs, and paying the costs of insurance and fuel makes it a tough way to earn a living. An absentee owner trying to book hauls would be extremely difficult.

Trucking isn't something you do on the side, nor is real estate. I think you'd be wise to concentrate on one or the other. Have you ever heard the saying "Jack of all trades and master of none"? Master one, and if it were me, it would be real estate.

By the way, both of my brothers died, one in his early 50's the other early 60's, as did my father. Those hard long days take a big toll.

Sorry to rain on your parade. I loved going out for ride alongs in the trucks, etc., but as a way of life, it's tough.

Daniel Warren · Answer

@Adam  F

yeah definitely was NOT on my career choice list. not hard feelings for my dad as he was doing what he could to take care of his family, but I would never take a job I had to be away like that unless it was last option.

@Jon Klaus

yeah I have noticed it cycles. Im just hoping that after I get some properties rolling good, I can buy a couple trucks and trailers cash and get a couple drivers. start local with logs/grains and if I come across a good freight broker for hire, maybe buy a couple of coast to coast rigs and expand

Jon Klaus · Answer

I have a friend who has sold trucks and trailers his whole career.  My CPA also used to own a trucking company, and still does some financing for owner-operators.  Trucking cycles with the economy.  It's pretty good now, especially if your niche is related to oil and gas.

Daniel Warren · Answer

i do and have asked him. He's always been a driver, never a trucking company owner. Asking for information from other people to get MORE information because what I do gather is that it is pretty tough. Thanks for the reply.

Brian Mathews · Answer

You said your father is in the business.  I think he would be the first person to ask about it.  From what I hear, it's a tough business to be in.

anyone have any trucking experience?

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