How I went broke losing $275,000 in Trucking

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[@GroPhilosophy]

As a oil and gas fleet dispatcher I’ve seen it myself everyone wants to take money from the truckers because they know they will pay. It’s crazy

[@realestateuniversity414]

I subscribed just off the fact you speaking on loses honestly. 90 % of KZbin only talk about wins

[@KC-4u2c]

Losses*

[@VicDamoneJr82]

This is so good … youtube is a clown show if you were successful you not sharing it

[@reedway5327]

💯the amount of overhead is crazy in trucking I lost about 40k total. Bought an auction truck, fixed them up, got my CDL and paid for mentorship’s. Ran the load board. Realized the money wasn’t coming back like it should have, sent the truck back to auction at the end of 22’ lol bumped my head and my credit but I’m shaking back now

[@doctorx1924]

Same thing happened to me over 10 years ago. It was a complete headache to deal with everything from the truck breaking down, to finding drivers, and all the bs paperwork you have to do to comply with regulations. I learned a lesson I will never get into business again that has expensive overhead and where it's hard to hire employees. Those 2 things make trucking very difficult.

[@ambientsoul738]

Bro..I take my hat off to you..this is one of the realest down to the root conversation about trucking I’ve heard..though I’ve been it over 18 years..this is something I wanted to say years ago..but when you tell people these things,they think your hating,or just don’t want to see them excel..bro when I left FED EX freight..I got my own truck in 2005.i lost our house,cars and then filed bankruptcy and I’m married with 4 kids..”BUT”..the key thing i did was i focus mainly on my business..it was my only investment..my only focus..long story short..years later ..all trucks are dedicated..I have a grocery contract with Trader Joe’s 10 years now..and that’s because I Added GOD in the business..I made him boss and let him guide my steps..stay up my brother,perfect story.

[@EnterTainment-vv1qs]

Great story How did you turn it around from bankruptcy to success? Also what does a dedicated truck mean?

[@ambientsoul738]

@@EnterTainment-vv1qs how I went from bankruptcy to success is I didn’t quit..we moved back in with my wife’s parents..filed chapter 14 then after 6 months filled chapter 7 and paid the off what we owed..kinda like pushing the reset button..and a dedicated truck has its on lane..it goes to the same store every day.

[@ronwhiteleo3352]

Happens every day but your the only one who is telling the truth.

[@bankergeorge]

A good and honest mechanic is definitely a must in trucking

[@wandaporter930]

THE TRUTH WILL SET YOU FREE!!!!!!!!! I am so glad you told this story because my daughter wanted to go into Trucking so bad you’re $275,000 saved so many people I’m gonna be praying that God gives you double for your trouble! Praying 🙏 for you.

[@edwardlawler9487]

Just make sure she learns a few tools of the game

[@jerbear7952]

Don't take advice from this chump

[@Flagarana]

Bro, I love this video. Just pure honesty. You saved a lot of Bank Accounts with this one. 👍 G.O.A.T.

[@johnnycinco1]

We want more videos like this. The Transparency is very real 💯

[@jerbear7952]

He's full of it

[@OffTheHookGirls]

Glad you are telling this story you are saving people

[@Bloodhoundmoneybuck]

Fr real talk

[@VicDamoneJr82]

He killed it

[@user-hw7qi3zd5n]

On the strength of your realness I have to subscribe. You got to be still winning because your able to still smile! I see no signs of defeat.

[@jerbear7952]

He makes all of this stuff up. His body language gives it away.

[@keneloc]

It’s very rare for people to keep it real on the internet! Salute

[@flatbedfred2079]

Thanks for putting this out. Social media and KZbin has made trucking out to be easier than it actually is. The market is flooded with trucks.

[@williamhoward5100]

Thanks for being humble enough to speak on your experience and being honest about it

[@kisht7469]

The two biggest thorns in trucking are brokers and as you mentioned, the scamming mechanics. I’m so glad I got out of the game. I sold my truck a couple of months ago and I feel so much relief.

[@jossa942]

Smart man

[@kisht7469]

@@jossa942 Woman. But, I understand 🤣

[@ricosally6734]

Don't forget the DOT they will get your ass to 😂

[@dannystranahan1004]

If you qualify one of the best ways of start your truck in business is with a full maintenance lease.. You get a brand new truck, you lease it. But if anything breaks down, it's covered. You don't have to pay for anything. And a lot of times they can get another truck to you and get you back on the road while the first one is being worked on..

[@MoneyTary26]

As a previous owner opp, Your downfall was: 1) you were spending too much on unnecessary staff 2) You got stuck with lemon trucks that kept breaking down 3) you were not driving yourself. You were just throwing money for people to run it for you without you getting into the business yourself. 4) your insurance quote is overk!ll... that enough shouldve been a red flag to stay away from trucking 5) you did not invest to build direct relationships wit shippers where you deal with them directly and you cut off the middle man (broker) which means you take less off the loads 6) vendors knew you had no experience in trucking so they knew how to suck your bank account dry.... you shouldve worked for a trucking company yourself before buying your own equipment and starting your own trucking company so you couldve got a taste of what its like running a trucking company first hand

[@Money_era]

Was trying to be boss too fast. Just a learning curve that shows have the funds and a good idea doesn’t make you a good entrepreneur or boss. Its good to know the ins and outs of the business so you’ll be able to lead

[@MoneyTary26]

@@Money_era yessirr

[@cesarcruz7744]

Wasting $150k right off the Bat Is Crazy This Guy Did not know shit about the business ,And the market been shit he really didn’t do his research

[@MoneyTary26]

@@cesarcruz7744 exactly. Everyone else he dealt with got paid, except him. Wild

[@trueprophets4704]

Not driving the truck is not a red flag but it’s definitely harder. Know many people who rim trucks and don’t drive. One lesson I learn was if you don’t drive it’s best to keep your trucks 300 miles close to home. Get a relationship with tow companies and mechanics that go a long way. I drive now but learn this before I started.

[@elcangri9554]

Dang those numbers of those people scamming & taking money out of you left & right hurt me like was taking the L this trucking is scary & if you don’t have the right money to support it you can even go bankrupt this definitely opened my eyes not to get into any kind of business blindly just because other people that don’t really have a clue themselves are saying it can make you a lot of money throwing big numbers at you, thank you for your story bro sometimes we just got to learn & bounce back

[@otate1]

I like what you said! Focus on what’s already working for you. So you can give 100% 👏🏽

[@christopherfields7372]

The pandemic had everybody getting in the trucking industry.

[@marcuselmore9524]

You a real one for sharing this with us, you gona be good you gona get more than 300k back in no time. A learning lesson. and get a personal attorney for just in case situations.

[@scaleshenry]

You know what when EVERYONE says get into trucking that is the sign to not go near trucking or anything else people are screaming jump into IMO

[@asarthegr8]

If you aren't a truck driver, don't think you will be successful as a truck business owner

[@shanra4764]

Not a true statement. The biggest companies owners don’t drive or have a cdl. It’s called leverage that’s it. Now in the current state of trucking it’s not good for anyone to enter the market.

[@asarthegr8]

@shanra4764 YOU ARE TALKING TO AN 11 YEAR CLASS A DRIVER FROM CALIFORNIA WHO IS ALSO AN OWNER OPERATOR. A BUSINESS OWNER DOESN'T HAVE THE ENDURANCE TO DRIVE 15 HOURS IN A DAY. THE DRIVERS ARE THE REASON WHY THERE IS A TRANSPORTATION INDUSTRY. YOU DONT MAKE ANY SENSE WITH YOUR FLAWED LOGIC

[@shanra4764]

@@asarthegr8 You are replying to a 29 year vet with 7 trucks.

[@shanra4764]

@@asarthegr8 and is 14 hours in a day not 15

[@asarthegr8]

@shanra4764 OH... DIDNT KNOW I WAS CHATTING WITH DOT 🤷🏿‍♂️🤣😂 I REMEMBER ONCE, I DROVE 17HOURS IN A DAY JUST TO BEAT POSSIBLE STORMS..... A BUSINESS OWNER WHO NEVER DROVE BEFORE DOESN'T HAVE THE ENDURANCE TO DO SUCH... I STAND FIRM ON THIS STATEMENT

[@rapidresponseroadside4617]

Your honesty earned you a new subscriber here.

[@user-pb7jx1su6h]

You a real one bro major set back greater comeback !

[@miles2burn]

Bro my advice to you if I knew you personally when u had that trucking idea would've been, make sure you do your due diligence and get your cdl class a! Even if you don't plan on driving yourself. For one you would've learned how to drive a big rig just in case if u had a situation where a driver abandons your equipment. Also I would've told you to network and find a trustworthy mechanic or mechanics there are plenty here in Atlanta. Also I would've given you homework to figure out what type of load do you wanna haul? Different kinds of loads can be very profitable. Also, I would've put you on to a couple of roadside service companies out there that offers free tows for two years. There's so much I feel like you were missing in your planning when it came to starting and being successful in this trucking business.

[@youngslip3117]

Looking to get into trucking soon is there a phone number or some I can reach you at?

[@bmaryam123]

Thank you, you need to do a video 😊

[@bmaryam123]

He needs a refund from his mentors

[@BrunsonsLogistics]

Your knowledge gotta run deep be successful in this game gotta know a lil something about everything and gotta know how to move among the sharks this a tough business to be in

[@sltgirl219]

I follow you on everything! Thanks for the transparency!!! 100K followers let’s goooo! S/N you look good on here!❤

[@SP369145]

Bro, I’m in the trucking game 3 years now with FedEX. I feel your pain. I’m doing pretty good but I’m still getting out. It’s like everybody is trying to get you.

[@dinerodylan4100]

My boi lost his first rental unit , he lost his first entry level Ferrari , he lost a ….. am a stop. Trust God and be patient. 💯 lesson learned .

[@MelaninCaptainX]

Take this down man stop dissing ya boi

[@dinerodylan4100]

@@MelaninCaptainX how am I dissing ???

[@Swagtastic225]

Wallstreet trapper makes what u lost every trading day clicking 2 buttons.

[@dinerodylan4100]

Take it slow and easy . Trust God and be patient. 💯 Build your roots and knowledge.

[@Dean-pc1ok]

Knowing when to fold them is a skill, better to live and fight another day.

[@rendellbaldwin8946]

I hear you bro. Take it as a learning experience.

[@IsmaelbenBenjamin]

Thanks for being honest bro. Been independent for 10 years and seen the ups and downs. When I seen KZbin influencers selling courses , I knew it wasn’t going to be good 🤦🏽‍♂️. Too many variables! I parked my truck feb2022 . It’s a 07 so I’ll never sell it 😊

[@bmaryam123]

I feel like the gurus and master classes are what has hurt the industry… they are the scammers not the industry

[@WildL23]

Do it again man. Just take it slow and live way below your means for 2-3 years. Always have way too much money. You got your foot in the door, all you have to do is go slow. Work 1 truck for a year. Next year buy another truck. 3rd year buy 2 more trucks. 4th year buy 2 or 3 more trucks.

[@masterk5066]

Don't feel bad My uncle does hotshot driving & his truck AND trailer keeps breaking down SMH thousands & thousands of dollars gone truck sitting not making money and these shops don't do you any favors ordering the wrong part & shit high labor prices so stressful.

[@dukeduke7569]

Damn bro, this was so sad to listen to. I hope you get back on your feet.

[@SoL-di9bk]

4:27 “guess what.. Ahh one driver leave my truck in the rode on the side. I'm like on my god, what is going on? My truck is in a different state.. 😳” 😂😂

[@JOHNALLMIGHTY11]

Same thing happened to my Trucking company my guy I had three trucks. I lost so much money with this trucking this industry will drain you.

[@JayRossTVision]

Same bro, three times the expenses. Almost bankrupted me. Gotta work a great job just to not go underwater

[@Tracklyfe_T]

the Trucking repair shops took my ass right out the game!! Charged me 14k. Came to pick up my truck and truck was still not running. Mind you I’m paying 2,700 a month in insurance for 3 months while it’s down. took it to another shop it was actually a muffler issue that cost 8,000k to repair. Words of advice. always use your bussiness credit card on repairs. I used Amex. And fought the charges and got my money back. bunch of crooks in this industry. Ended up selling the truck.

[@2tuffjuan]

Gawd Lee bro this is insane!! I hope everything is well you definitely gonna bounce back trust!

[@djwashx]

Only people I know who succeeded in the beginning purchased brand new trucks it was expensive but the trucks stayed on the road write the loss off on taxes you have a legal business

[@reggieraven8440]

You have no business it does not mean you get your money back because you report a loss on your taxes it only mean you don’t have to pay that much in taxes

[@vroor32]

​@@reggieraven8440bruh, don't even bother clarifying.... Let the sheeple keep believing that cash flowing out of a business is ok coz "hey, it's just a write off, right?" 😂

[@111mbailey]

Bro, I had 4 trucks on the road bro and found out the hard way

[@ned272]

People have to learn when games are saturated. But it def takes some courage to make a video like this, respect.

[@ItsLizzB]

Omg, this was our story as well but only with one truck and not nearly as much invested but I’m over it. I even got a CDL and put in time just to think it’ll be a partnership but it wasn’t worth it to me. Too much stress and headache and working on recovery.

[@eLm0Rr]

No, he won’t say it but I will; do not get into trucking !

[@drewcooper3469]

Yeah Smitty this shit is crazy..I got a truck out there too..and I’ve been going through hell too…

[@rocksolidkennels4473]

Thanks for being a man and for being honest most people would have lied about it

[@Dmoney1980]

Half of these KZbinrs are lying

[@Dmoney1980]

Thanks for the truth bruh

[@rozkeepsitmoving]

I just had to shut down my business. We've lost everything 😢

[@EnterTainment-vv1qs]

What happened?

[@gabinyetov]

Your loss is someone else's profit, at least you made someone else richer

[@mordenwalters6682]

Dam, I respect your honesty 👑

[@TropTrevTv]

People usually don’t tell these, I’ve been seeing non stop non cdl truckers on my TL lately, so ready to hear this 0:28

[@thejohnsonsnaturalliving1549]

Thank you so much for your honesty.

[@edwinmakingmoves]

Can't get to millions without a couple of L's

[@zemorainvestinggroup]

Wow! Thought I was the only one brother, went all in Real Estate immediately. Trucking is way too much of an overhead

[@mariomccraw4280]

Same experience with my trucking company! 5 trucks and 2 trailers…. I was making so much money I stopped by my other business(mistake). I am DONE with trucking!

[@dwayneg.5128]

5 trucks is an easy 30k a month

[@anthonykence9954]

Trucking is a very risky industry . I.do loans and trucking is a hard industry to get funded

[@Ayititunes]

The fact you smiling means you doing good lol I have $150k right now and I would never get into trucking. Thinking of buying a manufacturing or franchise using the SBA 7a

[@intelliquick2639]

I went thru everything he went through

[@Transportationhub1]

Yall in the comments missed the point hes an investor he is not getting his cdl. He is not trying to be a truck driver. Plus he isnt broke he clearly said in his video this was a side business.

[@Raul-ub]

thank you for sharing your experience. We need to hear the good and bad things. We can all learn from it. Even Steve Jobs failed and he said that was best thing to happen to him. He learn from it.

[@SB-ok5dl]

I learned the hard way too trucking is a business full of endless expenses. The biggest trucking businesses only net 5% lol the big numbers on the internet are gross. Terrible business to be in unless you are driving owner operator

[@jasonelouidor3412]

I just lost 68k & thought I was down bad 🤦🏿‍♂️

[@danielleanderson5775]

My biggest fear with getting in the business! Thanks for sharing! ❤

[@aking4974]

At least you took a risk with action. Youll do better next time around.

[@lilkongbrand2270]

A lot of ppl tryna get in with no actual experience & time on their license. Insurance gonna kill u with no cdl & years under it. They look at you as a Huge risk. It’s a Lot to learn before actually jumping in a trucking business lane. Keep overhead LOW AS POSSIBLE!

[@nickels9254]

Completely agree, when you’ve spent time behind that wheel and paid your dues running up and down that highway it hits different. A lot of people don’t have a plan, they get a truck and turn straight to load boards.

[@JayRossTVision]

Same bro, exact same $250,000+ in the hole, finally about to pull all of my trucks.

[@xavierwright7839]

All this goes for getting into box trucking too! Great video

[@sandrajohnson3932]

I love your honesty and realness. Thank you for sharing. God bless.

[@DispatchTrainingCenter]

Lets do a live stream about your journey and help others see the truth about trucking. Alexandra)

[@wilaristide5533]

It’s funny how I close my company 2weeks ago and now finding out someone went through the same shit 😂 honestly working as a company driver you make money having your own trucking company can be pretty scary very overwhelming. It’s like saving up and someone keep stealing from you and you looking for ways to stop it and their is nothing you can think off till you like fuck it I’m done with this shit 😂 I went though it I’m good thank you very much never again.

[@lemmotivates3422]

As someone who lost big in the car rental game I can relate

[@chidia1518]

Damn. I was looking to start this trucking thing like soonest. Oh Boy 🤦🏿‍♂️

[@msalwaysbeautifuli]

mannnn lol I told you in the airport I drive trucks right now 💆🏾‍♀️ I’m gonna dm you lol 🔥 but thank you for the transparency

[@user-ni3qe3xj9o]

lesson learned ! you were supposed to leverage that credit for a new truck !

[@JonJonn-ij2fw]

You did everything right but before you get involved develop relationships with experienced owner operators in your area to get information like personal mechanics & Insurance Brokers

[@banginzaza]

2:19 The moment it popped up my eyes went of out head 😂😂😂

[@kennyrobman7390]

Damn, people aren't making videos this solidl! salute brudda ! charge it to the game, you already know how it go. Get right back up again!!!

[@shanra4764]

The problem is people got in on the hype like any other business. if you don’t have experience and know how to operate in this climate, you’re gonna fail. This definitely isn’t for newbies not at this moment

[@JaMoto00]

Being 100% smitty I love dat u very transparent, but you are a high earner it was needed for you to get a brand-new truck especially with you not being a driver. These older drivers not going to give you this route because they come from a 3-4$ a mile market so they will direct you making you feel like it's smart to get a truck with 500k+ miles u need a truck under warranty to avoid them problems and leasing under a company is the most profitable route in a BS market.

[@Khozea22]

He should of never got in the trucking industry without somebody to give him real information of what it takes basically for 1 my Insurance is 1500 a month thru Progressive my mechanic can fly anywhere in the country to fix it exc exc...

[@111mbailey]

That's the trucks mentality!!!! Keep digging bigger holes

[@KoOLKiddo313]

I'll take the trailers for $5k

[@dwayneg.5128]

2 semis and 2 hot shots and trucks never broke down. Just normal upkeeps...etc. Maybe the trucks were too old, and I won't brought any trailers (you get do load out trailers)...etc Everyone experience is different

[@henryovalles1163]

Rule #1 Never get full send into any business that u never done business in - learn the ins and out first is a must

[@dmoe4sho]

Market is down. Saw dude loose everything with 20 + years experience. It is tough and cut throat. Also filled with liars who cap all day.

[@Superchargedtio]

I am leasing a truck now . This truck game isn’t the same im getting ready to get out of this and goto school

[@mikewillyontop1487]

i lost 90k same shit happen to me at least you got other businesses that was my only business still trying to sell my truck

[@shanra4764]

It’s clear the Brother has zero experience and thought he was going to cake up in the industry. this is called paying dues Not failing. you have a lot to learn in this industry but first and foremost you need to learn about the truck and how to fix it yourself

[@vroor32]

😂 every cat want to be a "Boss" till rubber meets the road, and then they realize the blacktop is hot AF in the summer 🥵 and black ice take them out in the winter 🥶

[@shanra4764]

@@vroor32😂😂😂😂Word!

[@Brittanee2008]

​@@vroor32My Uncle was in the industry for 30 plus years and that's all he use to talk about..this is the best comment 🙂

[@RDBATM]

50k for a truck says a lot though, brand new they $200,000 right now they $300,000 so in retrospect you get what you pay for. That 90k you used to buy two trucks could have been a down payment on brand new 0 miles. Atp your truck is paying for itself. Brand new also means warranties for repairs, bro just went in a little green lol

[@mrlemw]

I never paid over 20k for a truck and i been in business 17 years and im on my 3rd truck

[@TruckHaulinTalks]

Sorry you went through this situation. Thanks for sharing.

[@businesscryptobags7098]

I don’t blame you get out . I been doing this trucking for 7 years now running local out of HTX I been stop doing otr within the first year. I was still taking how on each truck 10k monthly after fuel no weekends . I do trading crypto and credit now . I been I. Crypto for 4 years now. The best thing I ever learned. Trucking it to much going on it’s the industry as a whole. Broker , drivers, etc

[@dannystranahan1004]

Two hundred and seventy five thousand dollars? You could aboard a brand new truck and a brand new trailer. Cash got no payments. You wanna have a full warranty? Or you could abide a gently used truck and have plenty of money in your maintenance Account. There's no shortcuts to business. You should know that you've had 3 businesses.

[@jackjones4673]

I lost over 250000 dealing with the 18 wheelers few years later I got back into it on the lower level hot shoting in a dually and right now I'm losing my shirt again the trucking company lane is a facade revenue is made but profit is not this is not the get rich hustle find new lanes yall

[@DrAnthonyTLadson]

Dam man I don’t feel bad now. Shoot I lost over $150k. Personal.

[@vroor32]

😂 y'all gon learn TODAY!!!!

[@pj-hs7pk]

I feel like after losing that much you’d know exactly what NOT to do, which would allow you to start making money.

[@Swagtastic225]

you need your own in house mechanic. vertical integration

[@michaelwalker112]

If your not driving don’t buy

[@AlchemyGuy3]

yea i felt this shit. happened to my brother