Buying and semi truck with seller financing
What’s going on people greetings it is brother man trucking yes i know my hands are ashy there’s no need to put that down in the comments i already know thank you what i want to talk about today is i’m sitting here doing my paperwork so this car comes in the driveway and car i’ve never seen here before comes in the driveway goes turns around and stops over there so
The guy that was driving he walks out or he gets out and he walks over towards the truck so i’m like i said oh i know who that is so he walks over to the door and i roll the window down hey what’s going on oh not much just you know just hanging out you know and it turned out to be um the previous owner of this truck so he just he said he was just stopping through
Um haven’t seen me in a while and he’s making sure the truck is still good you know and you know i just had a little small talk so yeah that was good he asked me how the engine was and the engine let me tell you about the engine as in one of the previous videos is a 3406 b caterpillar uh they call it the four and core mechanical engine and when i bought the
Truck or initially financed the truck he had just had a rebuilt done on the engine um well i shouldn’t say just had it done uh it was he said it was about 50 000 miles on the engine so the engine was practically brand new um so leading up to there let me tell you now somebody asked me how did i get started what steps do i need to do and so on and so forth now
This is where you get your pen and paper out then i’ll get back on to the story so in the previous video when i said i left the company i was working for and i went and bought a truck now even before i bought the truck i didn’t even know what truck i was going to buy but what i had done is i had filed my paperwork for my company corp um my corporate papers i had
My ein i had a business bank account and i already had a company lined up who i was going to lease on to and i also had a mechanic shop lined up excuse me so i had everything lined up even before i bought the truck excuse me so that’s the you know you put your pen and paper away now so that’s the steps that i did now how did i get the truck now this is this
Is unheard of people say oh you can’t do that listen so after doing all the filings and stuff like that now i’m looking for the equipment the tool the truck so at this mechanic shop i was stopping in wearing them out uh probably i would say once every two weeks maybe two three weeks i will stop in asking if anybody’s if anybody was selling any trucks and you
Know not the 50 000 40 50 60 000 trucks no i was looking for something a little bit cheaper so i’m stopping in stopping nope nope nothing nothing nope you can try this number so on and so forth not nothing enough nothing that one time i stopped in hey uh this person just he just left here he’s selling this truck there’s nothing there’s just fire over on the
On the bulletin board there’s you can take his number down or you know take the flyer or whatever so i made contact with the person hey i’m interested in the truck and i come see it blah blah blah yeah come on over so i went over looked at the truck so it was it’s a truck you know and he wanted uh eleven thousand dollars for the truck so i said okay now let me
Let me let me slow down here he won eleven thousand 000 for the truck now he doesn’t know me so he was without me without him asking i was giving him my statement of intent yeah um yeah i’m looking for the truck you know this looks like it’ll fit my needs i don’t remember exactly what i said but this is you know some dialogue that you can probably take notes
From yeah i’m looking for a truck this truck looks like it fits my needs um um you know i’ll be parking over at such and such i already talked to those guys um i’m going to be working for xyz company i already have a lease pretty much in hand i just need to get the equipment um you know a couple other things i don’t remember exactly how it went so he didn’t have
To ask me any questions uh excuse me so that was a statement of intent you know and that’s exactly what it sounds statement of intent this is my intention you know i’m not some bum off the streets i kind of have an idea what i’m talking about you know so get back to the story so he he says he wants 11 000 for the truck and i said okay i said would you take
Payments he says yeah i’ll take payments how much are you putting down i said i can give you five thousand dollars down and he said i’m trying to remember how it went i’ll give you five thousand dollars down and i just and he said okay you just pay me until instead of it being eleven thousand i’m gonna charge you twelve thousand just for the the headache of
Him basically being the bank i said okay that’s fine he says there’s no time limit to pay me off just pay me off you know and everything will be good okay now you have to be careful with this this was just a handshake deal he had to trust me i had to trust him so he went down to the notary he put the truck in my name or not my name but in the company’s name my
Company’s name that i had already formed and he was a lien holder onto the truck or on the title so if anything happened if i sold it or whatever insurance or whatever stuff like that he would still be covered because he’s the lien holder on the title so everything worked out so i paid him off and i don’t i remember how much it was um a year two years maybe
Something like that i don’t know it’s somewhere back in the videos so i paid them off everything is good now those quote unquote deals are still possible now you’re not going to find them on the internet well i shouldn’t say that they’re very difficult to find them on the internet you basically have to you know talk to the older people that’s getting out
Of business so you know older people getting out of business uh owner operators that are done you know especially now fuels four dollars and just about four dollars and fifty cents in pennsylvania you may find 419 or something like that or whatever you know these guys like man i am not paying that for fuel no i’m done okay that’s when you put hey you want to sell
Your truck man f that truck and that’s it how much you want for it you know now this is how this stuff goes so that’s how i got the truck that’s the story with the truck now we’re going to switch gears here now in the same way that i bought this this truck on owner financing is remember in the video excuse me in the video where i had my suit and tie on where i
Went to the meeting with the suit and thai guys this the same stuff they were talking about except on a donald trump level i’ll say it like that cause every mostly everybody knows who donald trump is and the same thing that i just did with this truck they do it on the donald trump level to a greater extent with non-recourse financing yes non-recourse financing
Buying businesses and stuff so i was like that’s why i’m like what wait a minute let me huh yeah so so that but i’m not gonna get into all that um i’m just you know leaving like little nuggets here you know it might try to help somebody uh but i gotta help myself first before you know you present the information somebody else um but same same principles and
Where i learned the no money down not no money down thing the uh owner finance thing was listen to the real estate guys you know oh lease purchase you know uh we’ll make payments we’ll take over your payments and stuff like that it happens in every single industry from little deals to six seven figure and more deals like that for what i’ve seen well from what
I’ve heard from people that actually done it so that’s all for this one um maybe i’ll see the next one
Transcribed from video
Buying Financing a semi truck with owner/seller financing without a bank By Brotherman Trucking
