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Honesty

Discussion in 'Newbies FAQ' started by D-Rail, Nov 22, 2015.

  1. D-Rail

    D-Rail New Recruit Researching

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    I have read a lot and I keep reading and filling my brain. The best info I have found is the tax part of this site. I see that there are a lot of deductions that I wouldn't have thought of. As well as the book keeping is a must, and can make a huge difference. Just reading on this site seems that the "newbies" only look at the what can I make side. I get that but wow after reading this sight it's not on my top 5 list. So...as I look for advice I have the same "I don't know what the :censoredsign: I am doing questions". Here it goes I have some money put back (30,000) I am divorced and no kids and free. I was a bartender for 20 years and have never had a boss and don't want to have one now. I was lucky to put away and have my retirement set from bartending and other investments. I don't want a clock in job, I am also not looking to support a family and wouldn't mind the tax break of a 1099. Question can I buy a 2009 ford 350 extended van and be a OO for a place like fill in the blank, and take home 30,000 at the end of the year? That's all I need to know at this point, but I am sure I will get more than I ask for...
     
  2. vandriver2
    Apple Fan

    vandriver2 Veteran Expediter Owner/Operator

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    You can do what ever you want! Check with the various companie's recruiters as to the age of the vehicle and type they are looking to sign on currently.
    Ask the recruiters if there is any penalty in refusing loads...say if you just wanted to run two loads per week and Gross $800. Or perhaps wanted to just run Spring thru Fall.
    I think calling and speaking with the Recruiters will help answer many of your questions.
     
    • D-Rail

      D-Rail New Recruit Researching

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      Thanks have been reading up for weeks and going to call tomorrow. I just like the freedom and if I go out and have to wait I plan on golfing( in the good weather)Basically using this as a retirement and tax break to travel
       
    • Ragman
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      Ragman Veteran Expediter Driver

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      Take home 30 Grand?...... Sure, why not! It is possible, but not right away. Ya need to learn the business first.
       
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    • vandriver2
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      vandriver2 Veteran Expediter Owner/Operator

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      Just put yourself "Out of Service"... You'll still be charged whether IN or OUT for the Insurances weekly, monthly....$300-$400.
       
    • D-Rail

      D-Rail New Recruit Researching

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      Ok so please tell me what I am looking at? 10,000/20,000/25,000/29,999? Just asking since I have not a clue.
       
    • Turtle
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      Turtle Administrator Staff Member Owner/Operator

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      It's probably more like $25,000, but $30,000 certainly isn't out of the question.
      Just keep in mind the Rule of Thirds. If you can gross an average of $1500 a week (which is not as easy as it sounds), that will give you $500 a week. And $30,000 divided by $500 equals 60 weeks to do that. So, if you can work 60 weeks out of every 52, you're golden.

      Some people stay out 3 weeks and go home for 1, but when you do that you're working 39 weeks and are staying home for 13 weeks. At 39 weeks, and $500 a week, you're at $19,500 for the year. Obviously, 3-out and 1-in makes little sense unless expediting is a hobby. If you stay out 2-3 months at a time and then go home for one or two weeks at a time, you've got a much better shot at making what you want. If you cut corners and skimp on maintenance and run underinsured, you have a really good chance, albeit one with very high risk on the backend.

      To increase your takehome Third, you need to reduce truck expenses. You can't do that by skimping on maintenance and insurance, not for very long, anyway, but you can do it by being smart with maintenance, by getting your own parts and fluids, doing as much maintenance as you can yourself, and finding a place that will use your supplied parts and fluids for maintenance, and by doing as much preemptive parts replacing as possible. Don't wait until your wheel bearings and alternator and water pump goes out while you're under a load in some place like Buttcrack, Montana, replace them before they fail with your own parts on your own terms.
       
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    • LDB

      LDB Veteran Expediter Retired Expediter

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      Problems. 1. an E350 (and a Chev G3500 as well) is a short van. Several of the best companies will only sign tall vans so you are limited in your choice of fill in the blank to run for. 1a. Short vans are going to miss some opportunities for taller and/or longer freight the others can handle. 2. 2010/2011 and older vans get hit by some of the fill in the blank that have a 5 years old or newer rule, again reducing the number of suspects you can choose from.

      Problems aside, it will take a while, no matter which fill in the blank you choose, to learn 1. the expediting business in general and 2. the specific blank. I've always suggested adding 10-15% to all the expense estimates and deducting 10-15% from the income estimate. If the calculations still work out acceptably then you're probably good to go.

      I might figure more like $20k year one, $25k year two and $30k and sometimes more year three and beyond. Good luck.
       
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