absolutely. i could listen and learn from these ramblings. most rambluings arent really interesting. these, every single one of them i get something valuable out of.
Your a classic driver sir. My dad drove for 45 years and did a lot during his time. New sub starting in August got my wife and she’s along for the ride so blessed to have her and get this experience! Your rambling is not idiotic it’s okay to track off and then come back to your point. Keep up your videos.
Don’t quit agree with the LLC part., most people don’t realize that when you set one up your supposed to identify your self as Owner/Employee and set yourself up on a payroll, write yourself a check and open up a tax savings account and then your bank will see personal income and you wont have those liability problems. Been an owner long time and had no issues with the bank trying to get business loans.
I don't know anything about trucking but the idea of owning your own rig and being your own boss has always appealed to me. I found this video to be bursting at the seams with information and things to look further into. Certainly not easy but its there if you are smart enough and determined to seek it out. Best of luck to you!
I know how much work this is, honestly, too much. Between IFTA, permits, and running rights it's a nightmare, and why so many people don't do it. Tim I wish you the best, you're clearly not a dummy, you've got the right attitude, and definitely the right truck to do it. I'm positive you're going to do great in this. All the best in this new year my man.
A well organized presentation. You are getting much better at this. I'm just amazed at the cost of regulatory compliance to the self employed. A gigantic tax grab at many levels. Discouraging to say the least. You could write the guidebook to those looking for their 'own authority'. Glad the load rates per mile are high now and you can earn a lot of this back quickly. I think you made a good move.
Honestly Tim, I can see you setting up a trucking community network membership for a small cut in your knowledge as your maturity and business savvy likely would be appreciated to receive straight shooter talk. One of my friends, they have mobile technology information biz, among other things, and have a community membership. They are greatly trusted and have a wonderful following. Something to think about. Wheelz down and a prosperous New Year! :-)
azcactusflower1 Thank you for all the words of confidence and encouragement, maybe after I get 8 million more subscribers I can just drive around in the pretty truck and do idiotic ramblings, that would be a sweet gig, have a safe happy new year, look forward to your comments in the upcoming year.
You are doing great to do this by yourself. I took care of the paperwork and business end when my husband and I opened up our trucking business. It's crazy all the paperwork to get started. I had to have a file on driver, a separate file on each truck, a file on each trailer and a company manual and this was just for the dot inspections. It's a lot to take care of. Good luck! I know you will do well! Oh btw we loved landstar loads.
Angel Z thanks, fortunate right now I just have one of each, and I couldn’t handle any more of the idiotic rambling driver than I have now, that guy want shut up 🤐
Very informative video Tim. I'm a heavy duty tow truck operator and I like to learn how the owner operator runs and all the little hurdles you guys come across.
I was in the trucking business since 1973 and I have seen Landstar morph into what it is today . First problem, Landstar brokers are EVERYWHERE and they actually will bid against each other cutting rates . Second Landstar will stand behind the broker first . Third you will be pencil whipped on you statement. Buying bobtail insurance from Landstar ,NO ,NO ,NO. ( I never understood how insurance was canceled and reinstated because you dropped the trailer) . Fourth NEVER lease to a company that has a lot of company trucks or broker trucks doing what you do . You will always end up picking up the trash. Your business is on wheels you have to move to the money it won’t move to you. Keep you business unique so not every truck stop fly looking at a load board can’t interfere with you ability to make money. I enjoy the video thank you
Rumpa Stiltskin ....... For me the most money I made was doing 2 things first was pulling jet engines from Ohio to Seattle . Equipment was a trail king 48’ mechanical rgn with outriggers and straps and good tarps . The load insurance value was $25 million paid $14,000 . Out of that is pole car and permits. What I ended up on was hauling water treatment chemicals for a company named Kemira . I had a hydropac system installed on the truck with a Drum compressor. I pulled a 45’ 5000gal insulated smooth bore tank . In the tank business you get paid for everything you do. Loading,unloading and time that your there. My last years I moved 12 miles twice a day for $900 a day , burned $240 in fuel a week,they paid insurance I took care of bobtail and collision comp.. my motto was never walk away as long as the game is being played and money on the table your best friend today will cut your throat tomorrow (just don’t blab about how much you make) my last year was 2014 for that year after expenses I paid taxes on $187000. So yes there is money in it as long as your not part of the herd.
Your video was just fine man... ramblings with information is way better then a lot of polished short organized videos that don't give you enough information.
I was an O/O back in the early 80s and want to get back in. I liked your video it was very informative. You are doing the same thing I want to do . I don't want to go out and sit and rot waiting on the roads to open on weather and crashes. Good luck and I love your Peterbilt. Keep the sunny side up
These are my favorite videos from you very informational. When you think about all you have to do with getting your own authority it is pretty intimidating!
Tim you have a great personality and enjoy your rambling. Thanks for your knowledge. One can never have enough knowledge. Good luck to you on your new adventure and happy new years!
Everything I heard in this video were good steps....great advice. NOTHING idiotic here at all...just, a LOT of info! I have watched your other videos...you have a pleasant way of speaking about you...your calm and rational. New O/O should know, you don't HAVE to start out leasing to a carrier like Landstar, but, it's probably a good, safe starting spot for most. Like you mentioned, being a Landstar BCO, you are very limited to the loads they have to offer. I jumped right in with my own authority owning my own trucks, my own plates, IFTA, own insurance, etc. So, maybe I jumped a step or 2 ahead when I first started. But, there was a few times, I thought I could do better leased on to a Landstar type outfit. The grass isn't greener. In fact, having your own authority gives you complete autonomy to go where you want, when you want, come back when you want....with no one to answer to but yourself. That is my preference. I use the DAT load board through OOIDA, and it is 1/3 the price of DAT otherwise. Your right about insurance. I had a perfect record, great safety scores...but, no matter, your insurance WILL be high for the first years. Once you get past that, the rates will go down (assuming you don't have a wreck or ticket). I went with Progressive when they first got into the trucking business, and, I saved money...I thought everything was great. Year 2 with Progressive, the rates went up, a lot...year 3 came around, it was more than double what I was paying year 1....I believe they had a lot of claims by OTHER drivers, so they raised the rates on EVERYONE. I cut my rates in HALF going with Northland...they are not easy to get on with, but, once you do...your set. As for factoring...I signed up with a factoring company right from the get-go, and it was a HUGE mistake. They are blood-suckers. My advice, stick with brokers who offer reasonable "quickpay" programs...like Landstar...I get paid from them in 2 days. So, if you balance yourself between "quickpay" loads and those that take 30-45 days, you should have enough cash-flow to survive. Not familiar with all the employee stuff you said...I have no employees, just me. Yes, you have to keep your logs, be signed up with a random drug testing consortium. But, never had to worry about "employee" records on myself. And yes, when you first start your authority, it will take 6-12 mos before every broker will work with you...it's something to consider and understand, you need to budget for. Definitely need to have a healthy bank account behind you. Be able to take care of the "what ifs". Nothing worthwhile is going to be easy, or cheap. Once you get used to it, you'll wonder why you didn't do it before. One thing you neglected to mention...you need to be aware of the "state to state" requirements. For example, Kentucky...even if you never pick or del a load in KY, just DRIVING through, you need a current KYU sticker. NY HUT is another one. IL and WI Intrastate Carrier Commissions require you to pay those states as well for loads that originate and deliver in that state. WI is a 1 time fee, I believe per truck. I don't have the WI, I should...but, I don't have many loads that are intrastate of WI. Happy New Year, thanks for the video!
I love this channel brother. I'll probably never go back on the road, but I get to missing it from time to time. 8 years OTR, trucking is all I ever wanted to do. My family owns a small local company and I help run it. I probably only average 1-200 mi a week, but I do still drive some. Anyway, keep the shiny side up and the dirty side down. 👍🏻
Been Following you for awhile now Tim. Great content and congrats on easing into running your own authority. Very educational video's driver. I am leased on to a mid sized company. Still paying the truck off but getting there. Your video's have helped me get a grasp on everything I need to take care of. Drive safe driver catch you on down the road sometime.
I’m just going to UA-cam follow you for awhile... You have become my new FAVORITE mentor online ! I cant wait to be O/O! HOPEFULLY BY THE END OF THIS YEAR! Gotta watch all your vids FIRST! 🤪
Call a Lady by the name of Kim Ritz at Partlow Insurance in Winchester, Va. next year she an awesome agent. She more than likely can get your insurance lower after your first year in business.
Also another good idea is to get a dispatcher to fill all the set up paper work with carrier. Plus when you driving they're looking for Loads. I've been running two years. So far so good. Also make sure you keep a record of the truck maintenance/dvrs because you going to get audit to make sure you running right. Usually in the first 6-12 months. Congrats
Allan McCullough all the new guys I know that have done it, has gone through an audit, just a paperwork one over the phone by a Tennessee highway patrolman, haven’t heard of anyone getting the actual visit except for Ifta, I should have already had the Ifta visit, so maybe I am safe from that one, but I keep all my scribbles and records just in case.
I really like your videos. You make things simple to understand. I really hope you cover more details on operating and all these obstacles to getting going. All the other videos people do are more complicated.
@{Forbidden.Knowledge} First two years $18,000 to $21,000. That was with Progressive. This year (3 year) is some where around $12,000 +/- with a different company.
OOIDA is a wonderful source for someone getting their authority started and running.... They can do almost everything in house to get you started!! Turn key!
I do believe in that knock on wood superstition. That’s amazing 2.5 million safe miles better yet a “Blessing “. Stay safe driver, lil lady from Texas.
Hay, "Ok Man", Loved the info, from your vlog. I'm a driver, 63, started in 04, been out the game since, 2015,, getting my license re-activated in few months, work local 2yrs. then buy my 1st truck. I have 75% of the dues and don'ts cause of people,, like you. Thank you; see you soon 2 1/2 years down the Road. God willing.
good work on knowing what to do with your own authority. im getting back into my own authority this year. reopening it. bought me a truck and trailer. I have been out of business since 2008 when the economy fail now im getting back into it pulling reefer again. hope and pray that it will be good as it the last time I did it.
Hi! I'm just getting started in trucking and I want yo u to do a video on fuel taxes. Love your videos and I am glad I discovered your channel. I look forward to many more videos.
Very informative video again. You say you ramble but you're still giving good information. I'm new to your channel and hope you're having a good year under your own authority..
I'm NEVER retiring! I know a few who retired and shortly after... they died. You can do an LLC through "The Company" (that's the literal name of the business) for $350!
Great video Tim, I wish l was a bit younger (14 to 19 years younger) l would have loved to drive a truck, but with my elderly parents now that's out the window. I love your videos thought and your truck!!!
I have been around trucking my whole life, my dad has been an O/O for almost 50 years. I always tell guys that want to get their own authority that they better have their own freight lined up or it’s not gonna happen for you. You can’t run load boards and expect to make it in this business for very long. You have to knock on shippers doors and get your own contracts or it’s not gonna happen!
Life is Good. Yes i know , ive been listening to kevin rutherford at night when im driving and with all the tax breaks and freight going up . I agree if im going to make it 2018 is tge year . Thanks hope uou have a very succesful year and thanks for the new video yesterday. You talked about running south and im all over that but wouldnt mind running north east , it dont bother me that much . Dont mind snow but hate the ice . Thanks again love the videos be safe
I dont think they are idiotic ramblings all useful information you present. Im a Canadian driver im in the u.s frequently mainly the midwest. I look for your truck everyday but havent seen you yet. Stay safe and keep the rubber side down. I enjoy your videos keep em coming.
Tim looks like you got it figured out. What a cluster of paperwork though, I guess you only fill it out once for the most part. Hey by the way have the same birthday as your grandson. Heard that on your Live cast the other day. Happy New Year hope it is a prosperous one for you. You take care.
I've been leased to companies before with my own truck and trailer did good , I got my own authority now yes , the total load pay comes to u but the first yr of own authority they consider u a new adventure even if u have 20+ yrs exp , So the cargo an liabilty ins is going to be on the high side for the first yr , After that firts yr it will go down alot then its not to bad i haul brokerage freight with companies like Landstar and do alright , We are also responsible for tag , 2290 , ifta , ucr permits , some people say they would rather lease on pay about 20% and leave all the paperwork to them , But for the mostpart im happy like this just wish the freight rates would go up ! 🙏 Good video keep on truckin !
Great video learned a lot keep doing this type of video from time to time. So much better than some of the other junk other truckers put out on here, No drama Have a good safe New Yr
Wish I had done this 25 years ago. Was running with an old driver team to Ca every week. And he begged me to do it back then. But was Stupid or scared and did not do it. If I'm able to get back into trucking. It will be O/O all the way.
Most of the brokers will pay you when you get the load off pretty quick for a fee of course ..lol. But if you have the cash on hand to go a few months not using a factoring company would be the way to go. But one I used for a while was Factor Loads out of Uber City , UT they are all thieves, but they where not to bad. Good luck, I did they same thing you are doing about 20 years ago I was with Inway but when the became part of Landstar I got my own MC. Hope you do good ...Good Luck.
Thanks for the video's. About to start a new career in trucking and I'm starting with goals... long term goals that I know I'm not going to be able to accomplish in the near future. Please keep up the "idiotic rambling" and be safe!
Tim, Been watching on a different computer and missed out on saying melee komikeemaka and a Great New Authority Year! Congrats - but dang it boy - quit with idiotic ramblin's...Really enjoy your stuff. Paul
Happy New Year Tim! Can you give a short answer to what own authority is, the purpose of the fuel sticker, what is a fuel card? What are factoring companys? What is a carrier packet? What is a DAT load board? Thanks!
Man thanks for the video!!! I'm on my second truck well one I owned out right it out me in the hole!!! This one is new and I took a chance it's not a lease but it is!! Man I saved enough almost to put enough down to buy out right!!! Man I wish you would let me pick your brain!!! I got some ideas!! Like to have your feed back!!! Tha KS for being a trucker with a brain!!!
Hey buddy how are you? Your videos are excellent as far as roughly getting an idea of what you going to deal with. Is there any video of yours that guides someone through the process from day one if you want to be an owner operator?
I appreciate this video I’ve been driving otr company for 6 months now created my llc and getting all the information to get my own authority why not go all out your first year I have the mind set plan can’t rely on anybody in this business get it done on your own in order to make money u gotta spend money
Sir this information is not ramblings at all, this is the whole truth about what a guy needs to do to get his own authority. Thank you very much for telling us like it really is. I am at the point of deciding to turn my trucking company into an LLC or not. If you could do it over, would you still go that way? If you could share more insight about that; it would be very appreciated. Thank you for taking the time to help us all out.
Yes I would, it saves you some money on taxes and etc, but it will hurt you with the banks, basically they are not smart enough to add back in the depreciation you showed during the year and everything else, I will only pay myself what I actually need, example 1st year was really low, like 13k because of start up cost, 2nd year was 28k, 3rd year was 36k this past year was 58k, probably will show a loss this year, bought a trailer and a truck, so that will kill my standings with the banks, but I don't need the bank, so they are not my concern, example if I need a new corvette I could get one in minutes, if I need a new home, that will never happen unless I show years of good income and growth, my 1099 average is 185k and they cant see it, oh and I also file as an S corp on my taxes, helps some on a few other forms, its best to have your cpa explain all that.
Planning on doing what you're setting up in this video. Carrier packets, how is that initiated? Do you contact them or do they solicit you? Loads of good information here , thank you. Be safe brother
What are your thoughts on the states that are banning truck travel because of the heavy snow, like New York in 2019? Some driver's have no choice but to sit two or three days.
Love your videos. I have a question. With having an LLC shouldn't you establish your own paycheck? your pay is x amount a week or mile. then you personally would have an income. not sure how that affects taxes etc.
Tim , great job getting your own authority, let me know your final company choices and the details i have been looking into the authority,llc,dat for finding loads,but finding a truck and getting all info on hot shot,ltl for me i had 3 choices doing feed, cattle or hot shot over night or Hazmat tanker x endorsed.what is your recommendation??
I have a plan to become O/O in the next few years, now I revise my plans along the way depending on the information I have,as of now I'm concentrating on paying off all debt and saving a certain amount every month and selling my house for the down payment and then maybe just renting a place to live, my kids will be grown so I don't have to worry about them as much,I'm very good with financial responsibilities,I would like to be an O/O for about the last 8 years of my career before retirement.I drive about 2700 miles a week line haul and have no tickets or accidents and doing everything to keep it that way,I just worry about how much I would have to run as an O/O and if my health would hold up over those years, many questions to answer.
I've always wanted to own my own rig this kinda showed some things I didn't know but I've been thinking about a company like landstar first get to kinda know more before I get my own. My grandfather was signed with a company csx. But heard they fell in like the 90s
"File has to go in a locked cabinet..I got the bloody key!!" haha.. I've hauled TQL before..don't like em either. $750 for an LLC?? Wow, Legal Zoom charges alot. I live in Ohio & cost me $125 to file one online directly with the state. Agree with buying a burner phone & setting up a dummy email. Tons of paperwork & hoops to jump thru. Alot of good advice here for o/ops thinking of getting authority. I'm also enjoying my coffee while watching this informative video. I need to get educated with IFTA & fuel taxes, always seem to owe $200-$300 every quarter. lol. Good luck in ur endeavor. Keep these ramblings coming.
THE WINING FORMULA IS>>LES>>LES>>>LES EXPENCESMEANS MORE PROFIT>>here in europe blackhauls are comon,,,costs half or less then officiall,but you get ripped if not take 50% in advance,,,even then are troubledcustomers that try it,so lawyerfees are necessary or 100% up front.
Good job on the presentation of the mountain of back office paperwork necessary. One thing about insurance, though, you mentioned your policy was $15k per year premium incl T&T collision, what about cargo insurance? Where do you pick that up? Thanks
Ramble on brother. Informative, even if it does seem to you like you're rambling. Lots of freight out there to haul. The big wigs just don't want to pay the drivers for their labor. There's a real need to rebuild strength into the trucking unions. strength in numbers always wins out against power and money. By the way.... sweet rig you have there. Very nice 389 Pete. great color too.
One thing to remember my man.. OOIDA insurance is NOT rated. This means there are certain companies that won’t allow you to run their loads. OOIDA has a list comprised of at least 21 companies that will NOT take their insurance. TQL is one of them. That’s why OOIDA’s insurance is so “reasonable” compared to an A plus rated company like Progressive.. just my two cents. Now let’s keep on trucking driver!
Asar Heru I moved everything over to Berkshire Hathaway, a warren buffet company, everyone loves it, Ooida was just cheaper on my replacement cost than Landstar was
I thought I was the only one who was having password issues with that site. That site is definitely not user friendly! I activated my insurance on 12/15 as well! lol
Your ramblings are more informative than most peoples whole videos.
absolutely. i could listen and learn from these ramblings. most rambluings arent really interesting. these, every single one of them i get something valuable out of.
Jerome , absolutely, also I think he’s a lot smarter than he let’s on. LOL
No really, Ive seen other videos and more out of the 15mins from other youtubers
Yeah, it's the stuff you really want to hear about.
I am 40 and work in the tech industry, I have been impressed with your grasp of technology since I started following your channel.
Bengals1us thank you, now help me get my UA-cam and hp laptop hooked up so I can live stream, I can’t figure it out.
One of the best channels on UA-cam. You put out good information!
Don kellogg thanks
Your a classic driver sir. My dad drove for 45 years and did a lot during his time. New sub starting in August got my wife and she’s along for the ride so blessed to have her and get this experience! Your rambling is not idiotic it’s okay to track off and then come back to your point. Keep up your videos.
Congratulations on getting your own authority Tim!! We wish you the best in 2018. Happy New year :) ✌️❤️ 🚚
TheCraftyTrucker Thank you very much, Happy New Year
Don’t quit agree with the LLC part., most people don’t realize that when you set one up your supposed to identify your self as Owner/Employee and set yourself up on a payroll, write yourself a check and open up a tax savings account and then your bank will see personal income and you wont have those liability problems. Been an owner long time and had no issues with the bank trying to get business loans.
I don't know anything about trucking but the idea of owning your own rig and being your own boss has always appealed to me. I found this video to be bursting at the seams with information and things to look further into. Certainly not easy but its there if you are smart enough and determined to seek it out. Best of luck to you!
Great guy, met him at the Petro ATL, Truck clean in and out, the cleanest truck in the lot. Very professional, it was an honor to meet you!
5050FUTURE Thank you and thanks for stopping to say hello
I know how much work this is, honestly, too much. Between IFTA, permits, and running rights it's a nightmare, and why so many people don't do it. Tim I wish you the best, you're clearly not a dummy, you've got the right attitude, and definitely the right truck to do it. I'm positive you're going to do great in this. All the best in this new year my man.
Really enjoying the videos. 2019 is my goal to get my authority. I checked in to OOIDA last week. This video is very, very informative.
A well organized presentation. You are getting much better at this. I'm just amazed at the cost of regulatory compliance to the self employed. A gigantic tax grab at many levels. Discouraging to say the least. You could write the guidebook to those looking for their 'own authority'. Glad the load rates per mile are high now and you can earn a lot of this back quickly.
I think you made a good move.
Thank you! hopefully the return on investment is quick
Honestly Tim, I can see you setting up a trucking community network membership for a small cut in your knowledge as your maturity and business savvy likely would be appreciated to receive straight shooter talk. One of my friends, they have mobile technology information biz, among other things, and have a community membership. They are greatly trusted and have a wonderful following. Something to think about. Wheelz down and a prosperous New Year! :-)
azcactusflower1 Thank you for all the words of confidence and encouragement, maybe after I get 8 million more subscribers I can just drive around in the pretty truck and do idiotic ramblings, that would be a sweet gig, have a safe happy new year, look forward to your comments in the upcoming year.
You are doing great to do this by yourself. I took care of the paperwork and business end when my husband and I opened up our trucking business. It's crazy all the paperwork to get started. I had to have a file on driver, a separate file on each truck, a file on each trailer and a company manual and this was just for the dot inspections. It's a lot to take care of. Good luck! I know you will do well! Oh btw we loved landstar loads.
Angel Z thanks, fortunate right now I just have one of each, and I couldn’t handle any more of the idiotic rambling driver than I have now, that guy want shut up 🤐
Very informative video Tim. I'm a heavy duty tow truck operator and I like to learn how the owner operator runs and all the little hurdles you guys come across.
I was in the trucking business since 1973 and I have seen Landstar morph into what it is today . First problem, Landstar brokers are EVERYWHERE and they actually will bid against each other cutting rates . Second Landstar will stand behind the broker first . Third you will be pencil whipped on you statement. Buying bobtail insurance from Landstar ,NO ,NO ,NO. ( I never understood how insurance was canceled and reinstated because you dropped the trailer) . Fourth NEVER lease to a company that has a lot of company trucks or broker trucks doing what you do . You will always end up picking up the trash. Your business is on wheels you have to move to the money it won’t move to you. Keep you business unique so not every truck stop fly looking at a load board can’t interfere with you ability to make money. I enjoy the video thank you
Larry Green Good Advice Larry, what do you suggest for loads out of Texas to look for as a new O/O?
Rumpa Stiltskin ....... For me the most money I made was doing 2 things first was pulling jet engines from Ohio to Seattle . Equipment was a trail king 48’ mechanical rgn with outriggers and straps and good tarps . The load insurance value was $25 million paid $14,000 . Out of that is pole car and permits. What I ended up on was hauling water treatment chemicals for a company named Kemira . I had a hydropac system installed on the truck with a Drum compressor. I pulled a 45’ 5000gal insulated smooth bore tank . In the tank business you get paid for everything you do. Loading,unloading and time that your there. My last years I moved 12 miles twice a day for $900 a day , burned $240 in fuel a week,they paid insurance I took care of bobtail and collision comp.. my motto was never walk away as long as the game is being played and money on the table your best friend today will cut your throat tomorrow (just don’t blab about how much you make) my last year was 2014 for that year after expenses I paid taxes on $187000. So yes there is money in it as long as your not part of the herd.
Your video was just fine man... ramblings with information is way better then a lot of polished short organized videos that don't give you enough information.
I was an O/O back in the early 80s and want to get back in. I liked your video it was very informative. You are doing the same thing I want to do . I don't want to go out and sit and rot waiting on the roads to open on weather and crashes. Good luck and I love your Peterbilt. Keep the sunny side up
These are my favorite videos from you very informational. When you think about all you have to do with getting your own authority it is pretty intimidating!
its really not that bad, you just have to dig your way thru it
Tim you have a great personality and enjoy your rambling. Thanks for your knowledge. One can never have enough knowledge. Good luck to you on your new adventure and happy new years!
Great vlog ! Happy New Year! Good luck on the new ventures. This is what makes America great.
Everything I heard in this video were good steps....great advice. NOTHING idiotic here at all...just, a LOT of info! I have watched your other videos...you have a pleasant way of speaking about you...your calm and rational.
New O/O should know, you don't HAVE to start out leasing to a carrier like Landstar, but, it's probably a good, safe starting spot for most. Like you mentioned, being a Landstar BCO, you are very limited to the loads they have to offer.
I jumped right in with my own authority owning my own trucks, my own plates, IFTA, own insurance, etc. So, maybe I jumped a step or 2 ahead when I first started. But, there was a few times, I thought I could do better leased on to a Landstar type outfit. The grass isn't greener. In fact, having your own authority gives you complete autonomy to go where you want, when you want, come back when you want....with no one to answer to but yourself. That is my preference. I use the DAT load board through OOIDA, and it is 1/3 the price of DAT otherwise.
Your right about insurance. I had a perfect record, great safety scores...but, no matter, your insurance WILL be high for the first years. Once you get past that, the rates will go down (assuming you don't have a wreck or ticket). I went with Progressive when they first got into the trucking business, and, I saved money...I thought everything was great. Year 2 with Progressive, the rates went up, a lot...year 3 came around, it was more than double what I was paying year 1....I believe they had a lot of claims by OTHER drivers, so they raised the rates on EVERYONE. I cut my rates in HALF going with Northland...they are not easy to get on with, but, once you do...your set.
As for factoring...I signed up with a factoring company right from the get-go, and it was a HUGE mistake. They are blood-suckers. My advice, stick with brokers who offer reasonable "quickpay" programs...like Landstar...I get paid from them in 2 days. So, if you balance yourself between "quickpay" loads and those that take 30-45 days, you should have enough cash-flow to survive.
Not familiar with all the employee stuff you said...I have no employees, just me. Yes, you have to keep your logs, be signed up with a random drug testing consortium. But, never had to worry about "employee" records on myself.
And yes, when you first start your authority, it will take 6-12 mos before every broker will work with you...it's something to consider and understand, you need to budget for.
Definitely need to have a healthy bank account behind you. Be able to take care of the "what ifs".
Nothing worthwhile is going to be easy, or cheap. Once you get used to it, you'll wonder why you didn't do it before.
One thing you neglected to mention...you need to be aware of the "state to state" requirements. For example, Kentucky...even if you never pick or del a load in KY, just DRIVING through, you need a current KYU sticker. NY HUT is another one. IL and WI Intrastate Carrier Commissions require you to pay those states as well for loads that originate and deliver in that state. WI is a 1 time fee, I believe per truck. I don't have the WI, I should...but, I don't have many loads that are intrastate of WI.
Happy New Year, thanks for the video!
Mike Mascow thank you for all that and Happy belated New Year
Thank you, and, Happy New Year to you too! Please keep making great videos!
I love this channel brother. I'll probably never go back on the road, but I get to missing it from time to time. 8 years OTR, trucking is all I ever wanted to do. My family owns a small local company and I help run it. I probably only average 1-200 mi a week, but I do still drive some. Anyway, keep the shiny side up and the dirty side down. 👍🏻
2.5 mil safe miles WOW CONGRATS on that that's impressive!
Hope all has been going good for you brother! You inspire me even more to get my own truck, just nervous to make the jump 😒
Been Following you for awhile now Tim. Great content and congrats on easing into running your own authority. Very educational video's driver. I am leased on to a mid sized company. Still paying the truck off but getting there. Your video's have helped me get a grasp on everything I need to take care of. Drive safe driver catch you on down the road sometime.
I’m just going to UA-cam follow you for awhile... You have become my new FAVORITE mentor online
! I cant wait to be O/O! HOPEFULLY BY THE END OF THIS YEAR! Gotta watch all your vids FIRST! 🤪
Congratulations again Tim! It’s a long process but I think it will be well worth it.
Mike Brown oh yeah it’s the only way to fly
Happy New Year's brother! Keep up the good work, and congrats on getting your own authority. God Bless
Call a Lady by the name of Kim Ritz at Partlow Insurance in Winchester, Va. next year she an awesome agent. She more than likely can get your insurance lower after your first year in business.
All the best with your new endeavour. I am going to enjoy watching you and Sergei over the next 12 months.
Regards from NZ
Neca eos omnes Deus suos agnoscet Sergei worries me sometimes
Agreed, Sergei worries me , but that's part of the reason I watch his vids. Happy new years
Also another good idea is to get a dispatcher to fill all the set up paper work with carrier. Plus when you driving they're looking for Loads. I've been running two years. So far so good. Also make sure you keep a record of the truck maintenance/dvrs because you going to get audit to make sure you running right. Usually in the first 6-12 months. Congrats
In twenty years I only had one audit and it was an IFTA audit, but you better keep all of your ducks in a row.
Allan McCullough all the new guys I know that have done it, has gone through an audit, just a paperwork one over the phone by a Tennessee highway patrolman, haven’t heard of anyone getting the actual visit except for Ifta, I should have already had the Ifta visit, so maybe I am safe from that one, but I keep all my scribbles and records just in case.
Alexander Collado you lost my attention at dispatcher, that kind of defeats my purpose in life.
That is one outstanding rig !!! Just love it !!!
Lots of good information, thank you sir this is my plan in 5 or less years, already run my own plate at landstar
good deal, you are on the right path
I agree with Jerome I got more out your video than I did out of all the other ones and I’ve watched a bunch good luck I’ll be waiting for more
greg burnett Thank you, I will have to try and sharpen my idiotic ramblings
Trucking it's always been about the #####'s = $$$$$,$.. Good Luck Mr...
I really like your videos. You make things simple to understand. I really hope you cover more details on operating and all these obstacles to getting going. All the other videos people do are more complicated.
Andrew Tummelson I will put together some notes from the comments section and work on that, thanks for watching
Life is Good. That would be fantastic. Happy New Year.
First time authority/first year is HIGH insurance. Next quote should be a lot better. Great video!
@{Forbidden.Knowledge} First two years $18,000 to $21,000. That was with Progressive. This year (3 year) is some where around $12,000 +/- with a different company.
OOIDA is a wonderful source for someone getting their authority started and running.... They can do almost everything in house to get you started!! Turn key!
all it took was one phone call
I do believe in that knock on wood superstition. That’s amazing 2.5 million safe miles better yet a “Blessing “. Stay safe driver, lil lady from Texas.
Hay, "Ok Man", Loved the info, from your vlog. I'm a driver, 63, started in 04, been out the game since, 2015,, getting my license re-activated in few months, work local 2yrs. then buy my 1st truck. I have 75% of the dues and don'ts cause of people,, like you. Thank you; see you soon 2 1/2 years down the Road. God willing.
good work on knowing what to do with your own authority. im getting back into my own authority this year. reopening it. bought me a truck and trailer. I have been out of business since 2008 when the economy fail now im getting back into it pulling reefer again. hope and pray that it will be good as it the last time I did it.
Happy New Year , and it's no wonder you can't sleep with all this on your mind !
John Fry crazy stuff
Hi! I'm just getting started in trucking and I want yo u to do a video on fuel taxes. Love your videos and I am glad I discovered your channel. I look forward to many more videos.
Very informative video again. You say you ramble but you're still giving good information. I'm new to your channel and hope you're having a good year under your own authority..
I'm NEVER retiring! I know a few who retired and shortly after... they died.
You can do an LLC through "The Company" (that's the literal name of the business) for $350!
I gave this video a THUMBS UP just based upon the title alone !!! #BOSSMOVES !!! Now, about to watch the video. 😉😉😉
Great video Tim, I wish l was a bit younger (14 to 19 years younger) l would have loved to drive a truck, but with my elderly parents now that's out the window. I love your videos thought and your truck!!!
I have been around trucking my whole life, my dad has been an O/O for almost 50 years. I always tell guys that want to get their own authority that they better have their own freight lined up or it’s not gonna happen for you. You can’t run load boards and expect to make it in this business for very long. You have to knock on shippers doors and get your own contracts or it’s not gonna happen!
Bullshit
Happy, healthy, prosperous and safe new year to you!!!
John M. Evangelis Thank you and Happy new year
Hey man another great video! Please keep doing these owner operator videos if you can, I'm learning a lot.
Omg great stuff , thank you ! You are building my confidence to to this , something i always wanted ..
Jim Murdock 2018 is your year, stop dragging your feet and get on it, what’s to loose? Many a men have fallen and they get back up!
Life is Good. Yes i know , ive been listening to kevin rutherford at night when im driving and with all the tax breaks and freight going up . I agree if im going to make it 2018 is tge year . Thanks hope uou have a very succesful year and thanks for the new video yesterday. You talked about running south and im all over that but wouldnt mind running north east , it dont bother me that much . Dont mind snow but hate the ice . Thanks again love the videos be safe
I dont think they are idiotic ramblings all useful information you present.
Im a Canadian driver im in the u.s frequently mainly the midwest. I look for your truck everyday but havent seen you yet.
Stay safe and keep the rubber side down.
I enjoy your videos keep em coming.
Rumblerdoo keep looking, I’m out and about, mostly clean states in the winter
Great info Tim, thanks! and Happy New Year!!!
Tim looks like you got it figured out. What a cluster of paperwork though, I guess you only fill it out once for the most part. Hey by the way have the same birthday as your grandson. Heard that on your Live cast the other day. Happy New Year hope it is a prosperous one for you. You take care.
Raymond Bradley thank you and Happy early birthday 🎂
HAPPY NEW YEAR. Congratulations. Your channel is a joy to watch. Have a safe and prosperous 2018
ironhorse127 Thank you
I've been leased to companies before with my own truck and trailer did good , I got my own authority now yes , the total load pay comes to u but the first yr of own authority they consider u a new adventure even if u have 20+ yrs exp , So the cargo an liabilty ins is going to be on the high side for the first yr , After that firts yr it will go down alot then its not to bad i haul brokerage freight with companies like Landstar and do alright , We are also responsible for tag , 2290 , ifta , ucr permits , some people say they would rather lease on pay about 20% and leave all the paperwork to them , But for the mostpart im happy like this just wish the freight rates would go up ! 🙏 Good video keep on truckin !
Great video learned a lot keep doing this type of video from time to time. So much better than some of the other junk other truckers put out on here, No drama Have a good safe New Yr
Wish I had done this 25 years ago. Was running with an old driver team to Ca every week. And he begged me to do it back then. But was Stupid or scared and did not do it.
If I'm able to get back into trucking. It will be O/O all the way.
hope to see you out here soon, freight is at an all time high
Thank you . I desire the very best for in 2018. Be safe out there.
thank you very much for this extremely valuable information. God bless...
Most of the brokers will pay you when you get the load off pretty quick for a fee of course ..lol. But if you have the cash on hand to go a few months not using a factoring company would be the way to go. But one I used for a while was Factor Loads out of Uber City , UT they are all thieves, but they where not to bad. Good luck, I did they same thing you are doing about 20 years ago I was with Inway but when the became part of Landstar I got my own MC. Hope you do good ...Good Luck.
Love that Tennessee coffee mug . . . GO BIG ORANGE!
Thanks for the video's. About to start a new career in trucking and I'm starting with goals... long term goals that I know I'm not going to be able to accomplish in the near future. Please keep up the "idiotic rambling" and be safe!
Beautiful truck... Happy trucking my fellow driver!
A Happy and Prosperous New Year for you...
Very nice equipment driver!! Thanks for the video
What have you chosen for an ELD device/system now that you're operating under your own authority? Great material. Great vids. Thanks for sharing.
Hi Tim i wish you and your family and your subscribes a very happy new year
Very informative. You nrrd a bigger truck just for the paperwork, All the best for the new year!!!
Abe Ash hopefully leave all the paperwork at home for awhile, I’m ready to drive
Tim, Been watching on a different computer and missed out on saying melee komikeemaka and a Great New Authority Year! Congrats - but dang it boy - quit with idiotic ramblin's...Really enjoy your stuff. Paul
sipzter Thank you, I will try and stop stopping the idiotic ramblings and just roll with it, thanks for watching
Tim, love the way you go about your business, have a great 2018!
I must say, not only do I get information feom your videos, your following provides good information as well 😀
Andrew Tummelson that’s fantastic, glad you read the comments section, that’s what I always do myself on other channels.
Happy New Year Tim! Can you give a short answer to what own authority is, the purpose of the fuel sticker, what is a fuel card? What are factoring companys? What is a carrier packet? What is a DAT load board? Thanks!
Great info from a businessman, thanks for the informative ramblings.
Man thanks for the video!!! I'm on my second truck well one I owned out right it out me in the hole!!! This one is new and I took a chance it's not a lease but it is!! Man I saved enough almost to put enough down to buy out right!!! Man I wish you would let me pick your brain!!! I got some ideas!! Like to have your feed back!!! Tha KS for being a trucker with a brain!!!
Ramblings added to Favorites...
St. Vick 👍
Hey buddy how are you? Your videos are excellent as far as roughly getting an idea of what you going to deal with. Is there any video of yours that guides someone through the process from day one if you want to be an owner operator?
I appreciate this video I’ve been driving otr company for 6 months now created my llc and getting all the information to get my own authority why not go all out your first year I have the mind set plan can’t rely on anybody in this business get it done on your own in order to make money u gotta spend money
Sir this information is not ramblings at all, this is the whole truth about what a guy needs to do to get his own authority. Thank you very much for telling us like it really is.
I am at the point of deciding to turn my trucking company into an LLC or not. If you could do it over, would you still go that way? If you could share more insight about that; it would be very appreciated. Thank you for taking the time to help us all out.
Yes I would, it saves you some money on taxes and etc, but it will hurt you with the banks, basically they are not smart enough to add back in the depreciation you showed during the year and everything else, I will only pay myself what I actually need, example 1st year was really low, like 13k because of start up cost, 2nd year was 28k, 3rd year was 36k this past year was 58k, probably will show a loss this year, bought a trailer and a truck, so that will kill my standings with the banks, but I don't need the bank, so they are not my concern, example if I need a new corvette I could get one in minutes, if I need a new home, that will never happen unless I show years of good income and growth, my 1099 average is 185k and they cant see it, oh and I also file as an S corp on my taxes, helps some on a few other forms, its best to have your cpa explain all that.
Life is Good. Thank you for the reply. Very helpful. Have a great New Year
Planning on doing what you're setting up in this video. Carrier packets, how is that initiated? Do you contact them or do they solicit you? Loads of good information here , thank you. Be safe brother
Matt Berg when you call on a broker about a load, first thing you do, is get setup with that broker
I enjoyed the video. Thank You for speaking the truth. You provided a lot information
Good information and good presentation. I wish you well in your endeavors for 2018. Good Luck and Happy New Years.
redjaguar100 Thank you
This was an awesome video!! Have a happy New Year!
Good Info,,, Glad to see you Back........Happy Trails.
God bless you, thank you for sharing, I really appreciate your time. Go back to bed for a few 😂
Wow lots paperwork and money to start up. Wishing you the best.
What are your thoughts on the states that are banning truck travel because of the heavy snow, like New York in 2019? Some driver's have no choice but to sit two or three days.
Love your videos. I have a question. With having an LLC shouldn't you establish your own paycheck? your pay is x amount a week or mile. then you personally would have an income. not sure how that affects taxes etc.
Tim , great job getting your own authority, let me know your final company choices and the details i have been looking into the authority,llc,dat for finding loads,but finding a truck and getting all info on hot shot,ltl for me i had 3 choices doing feed, cattle or hot shot over night or Hazmat tanker x endorsed.what is your recommendation??
"let's stop rambling ok"😂😂😂 you are awesome driver
I have a plan to become O/O in the next few years, now I revise my plans along the way depending on the information I have,as of now I'm concentrating on paying off all debt and saving a certain amount every month and selling my house for the down payment and then maybe just renting a place to live, my kids will be grown so I don't have to worry about them as much,I'm very good with financial responsibilities,I would like to be an O/O for about the last 8 years of my career before retirement.I drive about 2700 miles a week line haul and have no tickets or accidents and doing everything to keep it that way,I just worry about how much I would have to run as an O/O and if my health would hold up over those years, many questions to answer.
I've always wanted to own my own rig this kinda showed some things I didn't know but I've been thinking about a company like landstar first get to kinda know more before I get my own. My grandfather was signed with a company csx. But heard they fell in like the 90s
"File has to go in a locked cabinet..I got the bloody key!!" haha.. I've hauled TQL before..don't like em either. $750 for an LLC?? Wow, Legal Zoom charges alot. I live in Ohio & cost me $125 to file one online directly with the state. Agree with buying a burner phone & setting up a dummy email. Tons of paperwork & hoops to jump thru. Alot of good advice here for o/ops thinking of getting authority. I'm also enjoying my coffee while watching this informative video. I need to get educated with IFTA & fuel taxes, always seem to owe $200-$300 every quarter. lol. Good luck in ur endeavor. Keep these ramblings coming.
Damn good video. Just be patient😁
I agree with you 😬
THE WINING FORMULA IS>>LES>>LES>>>LES EXPENCESMEANS MORE PROFIT>>here in europe blackhauls are comon,,,costs half or less then officiall,but you get ripped if not take 50% in advance,,,even then are troubledcustomers that try it,so lawyerfees are necessary or 100% up front.
Good job on the presentation of the mountain of back office paperwork necessary. One thing about insurance, though, you mentioned your policy was $15k per year premium incl T&T collision, what about cargo insurance? Where do you pick that up? Thanks
Mark Bell that’s everything in one lump sum, have it with Berkshire Hathaway
When I get ready to buy my own truck I'm coming to work for you, you would be a fantastic mentor.
Ramble on brother. Informative, even if it does seem to you like you're rambling. Lots of freight out there to haul. The big wigs just don't want to pay the drivers for their labor. There's a real need to rebuild strength into the trucking unions. strength in numbers always wins out against power and money. By the way.... sweet rig you have there. Very nice 389 Pete. great color too.
One thing to remember my man.. OOIDA insurance is NOT rated. This means there are certain companies that won’t allow you to run their loads. OOIDA has a list comprised of at least 21 companies that will NOT take their insurance. TQL is one of them. That’s why OOIDA’s insurance is so “reasonable” compared to an A plus rated company like Progressive.. just my two cents. Now let’s keep on trucking driver!
Asar Heru I moved everything over to Berkshire Hathaway, a warren buffet company, everyone loves it, Ooida was just cheaper on my replacement cost than Landstar was
I thought I was the only one who was having password issues with that site. That site is definitely not user friendly!
I activated my insurance on 12/15 as well! lol