NEWBIE WITH INHERITANCE
#21
02-01-2007, 11:10 PM
Originally Posted by Ian Williams
If you want to get into driving I would find a small company or O/O to work for. Do this for 6-9 months and you'll gain some perspective.
Start reading the Wall Street Journal its quite possibly the best paper on the planet for business & finance. Read the books Millionaire Next Door & the Millionaire Mind. You should be able to pick up both for nothing at most any used book store. Get a good CPA, Lawyer and fee-only financial advisor. BE PARANOID. All sorts of hucksters crawl out of the woodwork for $. My Step-Grandfather managed to piss away a $500k windfall (early 1970s money) with all sorts of stupid exotic investments. I've been in this racket for 10 months now as a driver and I'm just now have mastered being a company driver. While I've enjoyed his posts and wish him the best of luck, I don't know if the Steve Booth school of jump into the deep end to learn to swim method is right for all. I would also recommend attending Dave Ramsey's "Financial Peace University"; it really is good for everyone, not just those who are dealing with debt!!! 
#22
02-01-2007, 11:24 PM
BanditsCousin: I grossed over 55,000 this summer in 2 months, however I kept about 40% after expenses.
55.000 dollars in two months .. ? how many trucks?
#23
02-01-2007, 11:24 PM
Buy as many w900 as you can chorme them out and lease them on to CRENGLAND you will make stacks$$$ a buddy of mine started out with 1 truck and has over 15 in a little as 3 years with england. :lol: :lol:
__________________
Truck Driving an occupation consisting of hours of boredom interrupted by sheer terror!! "All the coolie carriers suck. Log 70, work 80-100, paid for 50." - the Great ColdFrostyMug 
#25
02-02-2007, 12:57 AM
Guest
Posts: n/a
Re: Thnaks
Originally Posted by mmonsalveg
Thanks guys for all your replies... I decided to get in to trucking bussines because my brother.. He is in Colombia and he has 9 trucks ... and each truck gives him 8.000 US dollars net. in a month .. but here in USA the trucking business is very different .. a lot of laws .. well the only thing i can say is wait.... im not in a hurry .. i will learn more about trucking.. i thing is an intereting investment.... real state dont get my atention.. anyway thanks for all your replies..
Mauricio
#26
02-02-2007, 07:09 AM
BTW if you do want to invest in real estate look into Real Estate Investment Trusts (REITS). They offer many of the benefits of real estate without some of the drawbacks.
One of my best stock pics was a specialized REIT that dealt with private prisons.
#27
02-02-2007, 06:08 PM
Re: Thnaks
Originally Posted by mmonsalveg
Thanks guys for all your replies... I decided to get in to trucking bussines because my brother.. He is in Colombia and he has 9 trucks ... and each truck gives him 8.000 US dollars net. in a month .. but here in USA the trucking business is very different .. a lot of laws .. well the only thing i can say is wait.... im not in a hurry .. i will learn more about trucking.. i thing is an intereting investment.... real state dont get my atention.. anyway thanks for all your replies..
Mauricio
#28
02-05-2007, 09:51 PM
How about this...talk to a banker and let the money work so you don't. And leave rolling down the highway in a 80K lb rig to the professionals. Having money doesn't mean you are going to be successful in this industry, it may be a cushion for a while, but when that runs out all your left with is buyer's remorse.
#29
02-06-2007, 02:50 AM
Personally I think you're yanking everybody's chain.
If your "inheritance" is such that you can afford several trucks, I would suggest that you get your financial advice from other areas. I'm sure you've been told that in trucking the best way to be a millionaire is to start out with 2 million.
#30
02-12-2007, 02:55 PM
Guest
Posts: n/a
Originally Posted by Snowman7
Originally Posted by BanditsCousin
You can lose money, or make money, there is NO guarantee you'll make money.
If you got an inheritance and want to start a business, invest in a Quizno's franchise or something, especially if you know NOTHING about trucking AND US regulations in general. My .02  |
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