Racing41

I want to get into this. I have a 03 Dodge Ram with the 5.9 Cummins. It is a dually. I really would rather drive for someone else. Use someone elses trailer. Anyone know of somebody in the MD area? I here there is a company in Baltimore that does this but I searched the internet and the phone book and no luck. Any help is appreciated.

RickG

To put it simply , signing on with a carrier , paying their percentage and trailer fees you will net almost as much as someone flipping burgers at McDonalds and your truck will depreciate rapidly due to high mileage .
http://ltlhotshot.myfreeforum.org/Wh..._about159.html

haulin-rv

Its not that bad, I have been hauling rv's for almost 5 years and I make a living. But that is about all you can do is make a living. I keep doing it for a few reasons, I like having no boss, I run when and where I want (usually), I always get a trailer to my vacation destination (makes it tax deductible), with all the deductions you really pay very little in tax, and I enjoy driving and seeing our country. BUT right now is a bad time to get into this, the rv industry somewhat tanked last year so things are slow. When things are slow there is more competition and thats causing rates to not rise and keep up with the fuel costs, and making it harder to stay busy.

RickG

That's great if it works for you . The only thing about paying little tax means that indicates little income . When you're self employed the banks want to see the last 2 years reportable income when considering you for a loan .

haulin-rv

With a credit score around 800 they just say how many do you want. Just refinanced my house no issue, bought property no issue, and so on.

scootertrash35

ricks always the optimist is'nt he?
now i'm gonna sign off so i can do an online ap for mcDonalds!
i had no idea i could clear 70k flippin burgers

bluepuller

Rick does seem to see the glass has on the half empty side when it comes to this. But I think the guy is a realist also. I did it for a year and it definitly had its rewards. and its not that hard to make a buck if you get on with the right company. However the biggest part is you have to run and live lean on the road keep the truck payment low if there is one plan your fuel stops stuff like that. talk to your company about backhauls thats where the money is made. make an aggreement with them that you can pursue your own backhauls (thats what i Did) But use thier bill of lading and have the checks made out to the company your leased to. tell them you need to have 95 percent of the money for evrything that you line up to haul youll be suprised what they'll say becouse its money they wouldnt have made anyhow.

RickG

Were you self employed when you financed all that ? Once self employed past income means nothing . They want to see 2 years returns on your business .

RickG

Are you saying you paid taxes on $70,000 net last year from hauling ?

C Pierce

Just start doing searches in this forum. All of these arguments have already been made over and over, there many different opinions on this subject and whats good for one guy might be a nightmare for another. My opinion is if your gonna do it DO NOT let anyone talk you into taking a load that is just enough to pay for your fuel because there is a supposed Real Good paying load on the other end, your time is worth something. Keep your integrity, dont work just to pay for your truck or cut someone else's throat by slashing rates that's what got most of us where we are at now (high fuel & low rates)

OldDodgeOwner

While we're on this topic, what kind of insurance do you guys have that'll cover the trailer and load? I do a bit of hauling for people, but always friends of mine, but still worries me not being covered.

RickG

Most insurance companies won't give you cargo insurance unless you have DOT authority . If a truck is leased to a carrier the carrier is required to have cargo insurance . The insurance is the big hassle in hauling . It's too expensive to make part-time hauling worthwhile .

RickG

You were lucky to have that arrangement . Most companies want 25% because you wouldn't get the load without their authority .
I know there is money to be made . I know several hotshotters that are doing quite well but I know many more that gave it up within a year . The majority that I know making it don't count on it as their sole source of income . They are retired with pensions or have a wife with a good paying job . Many have their homes paid for or own investment property .

Sprinter17

My advice is get a CDL A, and you'll never be out of work again. Once upon a time, I needed a CDL A for my repair business to be able to run the semi I repaired out on the highways. So I took the class at a local vocational school for $1200, and let me tell you, they have recruiters coming to your class begging you to work for them before you finish the class. I didn't need the CDL for a driving position though. The instructors were calling my home every week for a month wanting to set me up with a company job driving. Everyone else in the class signed up with someone. They didn't even want to know your past jobs or anything, just get in the truck. I still might use my CDL A some day when I get older just to make some cash locally here in town. You have to look for a vocational school though, those high priced ripoff schools on TV are too much$$$. I'm sure if you get into hotshoting , a CDL A wouldn't hurt with your insurance company either.

rich

you can get cargo without the dot cuz i know a guy who has it most ins companies are in it for the money