nubtime question wall

[roadboi44]

Hey everyone,
I am looking into hauling freight as an o/o and buying or leasing a van here shortly.
The first main question i had is it better to work for a carrier that gives you loads, or find your own loads from brokers on
load boards like truckers edge? I have heard that the requirements to work for a carrier as an owner operator
are carrier specific, but if i get a job from a broker off a load board, will these (similar?) requirements apply, and how
does the broker verify my insurance, and van age, etc?

The next question i have is about authority and commercial insurance. From what i understand of it,
commercial insurance and a dot number, along with registering your company as an llc, gives you authority to accept loads
directly from a broker or shipper for interstate travel? Is the broker doing research on the potential driver ( like dui, backround check, etc?)
How does it work if i acquire another van and want to sign on a driver to my company and have my commercial insurance cover him?

When dealing with brokers, why does it take so long to get paid? (I've heard 28 days is the norm unless you use some other service the name of whitch i forgot)
How do you avoid getting ripped off when dealing with brokers?

Say i want to work with a carrier non exclusively, will they pay my commercial insurance? if so how much
do they take off?
If i get an interstate job through a broker can i have my insurance provided for by the broker or do they expect you to have that already in place?

I'm located in Maine but can i sign on with a carrier as an o/o even though the carrier is located say in Michigan or somewhere
for example without having to meet the carrier rep face to face? (so are there examples where i would never see the carrier representative face to face as an owner operator, or is it more like
face to face job style interview where they want you to drive 2k miles and do some training and what have you. (keep in mind this is all in regards to o/o's)

I'm looking at the Promaster, and i believe i can lease one
from around 2016ish fairly easily. Will i get more loads leasing a newer vehicle like this compared to finding
a 2006ish beater off craigslist that i can afford outright?

Any advice is greatly appreciated.
Anyway i just found out about this profession a few days ago, but i think its for me. My dad was a trucker for a few years, and I've been on a few road trips
to know i love driving.

 

[Dell]

First step is to take a position with a fleet owner. Learn the business working for someone else.

The van market is over-saturated. Rates are free-falling. Majority of carriers have put a freeze on vans.

Spend MORE time reading this forum then a few days.

 

[Treadmill]

In order to get your DOT number you will have to provide proof of commercial ins. which is pretty pricey (depends on your driving record and age of vehicle but will be around 6-10k a yr. plus cargo ins.).
I would drive for a fleet owner first just to see if its for you. This job is totally different than driving big rigs.

 

[indycolts]

You may want to talk with local transport company(s) first before doing anything else. See whether thay have any independent contractors on board.

Before I purchased van I had Q&A session with a local company and before we were done I was literally receiving an invite to run for them. They cover the cargo insurance which saves about $5k annually. Contract calls for me to receive 72% of anything related to work I get which is mostly from their customer base which is so much better than load board work. Nothing like broker expecting a deliver direct of 1200 miles for $500. They can kiss off with type of work.

Personally I think if you lease that is a problem but others on here with more informed insight might correct me on that. My situation came up because of layoff after 38 years so I had funds to allow down payment on new vehicle. The mileage you need to drive to make decent money I would think is lease prohibitive.

I benefit from company finding my work and they benefit by knowing my availability when customer calls.

Best of luck

 

[Warrior]

Work for a fleet owner who will give you a start to ensure you like what you are doing. The first mistake people often make, jumping in because it looks easy. Trust me, you need a lot of real experience to make this work. All the question you are asking are great, but very basic to this business. Until you can answer them, you are no where ready to be in business for yourself. Good credit and a few dollars saved is the quickest way to going broke in this business. Working for a fleet owner will give you someone to be a mentor, teach you the business on their dime, make sure you can run in on your own, and then when your ready, your credit to buy a van, and dollars saved, will put you in a position to be able to make money from day one. Van business is the hardest. What most people won't tell you is that because of the limited amount of money it takes to get in, everybody thinks that is the place to start, which is why it is saturated. You have a leg up, the place to ask the questions is now, before you buy, and here where people are great and the info is free. Your post was well thought out, so it looks like you should be able to make it work, and I wish you well. Find others with direct van experience and listen to them, not the internet blogs, or youtube. I can't provide good info because its not my world, only straight truck expedite and tractor trailer stuff. Good luck to you, its a great lifestyle for sure.