A listening experience, with a load of trucker talk. Designed to keep truckers informed, and entertained, while they support the country, one trip at a time.
Join our hosts as they discuss ways to diversify income streams.
In this throwback episode of Get a Load of This podcast, our guest Steven Wylie discusses ways to earn extra money/investment income by setting up multiple cash flows.
Episode Highlights:
Steven shares his upbringing and how his father influenced him to have an entrepreneurial mindset. (7:22)
Steven mentions that one of the lessons he has learned is that you really need to know that a venture is going to be worth it before you decide to move forward with it. (13:54)
Steven explains that one useful strategy in business is to read and understand what other people who are ahead of you have to say about the industry's situation. (15:50)
Steven believes that having a business plan is essential for people to be aligned with their goals and broaden core values for the business. (22:20)
Steven mentions that nothing you do in real estate as an investor will be as scary, risky, or adventurous as what you're already doing. (28:45)
Steven explains that the investment of time varies depending on the type of niche you are in. (30:27)
Steven discusses that LLC provides liability protection, and he has all of his rentals in LLCs in order to give multiple layers of protection and anonymity. (34:35)
Steven mentions always considering the area, interest rates, taxes, and insurance when investing in a real estate property. (36:06)
Steven explains that he does not often learn from people blogging about real estate, but rather through real relationships within his local community. (42:05)
Steven advises listeners to always be prepared and to have a remedy to every challenging situation they may face in their investments. (45:05)
Key Quotes:
"Having a broad kind of core value, the thing that gets lost in capitalistic pursuits, and I'm an avid capitalist, is quality of life. And so, I always try to balance my desire to be a goal-setting person with, are these things actually going to make my life better?" - Steven Wylie
"Everyone's got a different threshold. And that's going to be a very personal question that each person can only answer for themselves because what's true for me and what's true for you will be two different things. Everybody has a different capacity for risk." - Steven Wylie
"My posture is ready to find distressed situations and end up being the remedy to that situation. And for myself, be ready to hang on to some things for a while and let them ride and just love them.” - Steven Wylie
Resources Mentioned:
Steven Wylie
Cameron Pechia
Thomas Comstock
Ryan Young
13 Dec 2024TRANSCRIPT
Throwback: Owner/Operator Rag to Riches
In this throwback episode of Get a Load of This podcast, Join hosts Cameron Pechia, and Thomas Comstock in this episode of Get a Load of This podcast, as they discuss an owner/operator success story with Justin Robbins of 3 Peaks Logistics LLC. They discuss the process of starting a new company as well as how one can be profitable and change their lives within a year.
Episode Highlights:
Justin discusses his background and how he got into the trucking business. (2:36)
Justin shares a few of the struggles he had as when he was younger, before getting his CDL. (6:11)
Justin mentions what his CB handle would be if he had one. (17:11)
Justin discusses the steps he took to ensure he had the resources to start his own business. (22:59)
According to Justin, one of the mistakes many drivers make is staying in an area to wait for a load that simply pays for their way back while missing out on several days of revenue in a hot zone. (25:15)
Justin believes one thing he always encourages drivers to do is to adapt to their location and find out what product is moving from where they are. (26:58)
Justin explains that any failures or setbacks he experiences just turn into motivation. (28:53)
Justin explains how, like him, when someone begins a business as an owner-operator, they are generally in the red the first year (33:02)
Justin explains why he registered 3 Peaks Logistics as an LLC and why business cards registered as an LLC should not be mixed with personal expenses. (33:59)
Justin recommends that new drivers communicate with other drivers since they could learn something useful from the discussion. (37:57)
Justin recommends a good tax company and a drug program to new owner-operators. (44:32)
Justin recommends the drivers to acquire their identification cards from as many places as possible. (56:15)
Key Quotes:
“One thing I always tell drivers, adapt to your location, find out what product is moving from where you're at, and what you're trying to do.” - Justin Robbins
“I've been lucky enough to where every move I've made has been forward. I just got that mindset to where I'm not going to be stagnant and I refuse to take steps backwards.” - Justin Robbins
“Don't go buy yourself a pair of shoes with your business card because once you start mixing your personal with your business, the LLC is out the window.” - Justin Robbins
Resources Mentioned:
3 Peaks Logistics LLC
Cameron Pechia
Thomas Comstock
Ryan Young
Valley Trucking Insurance
29 Nov 2024TRANSCRIPT
Throwback: Put Cash and Control Back in your Pocket by Investing in a Captive!
Industry expert Ian Mayster shares insights on captive insurance programs, revealing how they empower fleet owners with investment potential, control, and safety benefits.
Inside a recent episode
Throwback: Diversifying Income Streams
Published 27 Dec 2024 · Transcript excerpt
[…] And because you don't have to care about appreciation. If you want to play the appreciation game and flip and all that, well, good for you. That's great. It can work, but now it's not going to be a good time. Maybe a year from now. Maybe five years from now. I don't know. That's that will all find out. But the beauty of being in a position where you are a successful business owner and you have income and you don't, you know, real estate is not going to make or break your life. It's a vehicle for growing wealth. Then you are trying to buy and hold and your whole goal is to systemize that in a manner that makes your life good. […]
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