Financing help for Friend/Potential Partner

[Derek Stern]

Hello Everyone!

I am looking to get into Real Estate within the next year or two with my long time friend. Our plan is to save up and learn as much as we can in the meantime.

I am in accounting and he is a class B truck driver who is looking to purchase his own truck to become an owner operator and pull in more cash than he can as only an operator. Currently he has no credit, but also no debt, and little assets to back a loan for a new truck. He qualified for a $30,000 loan from his bank, but does not want to buy a dump trump at that price since it would be more likely to break down, which could cause him to lose work/credibility.

I told him to try several other local banks or credit unions and shop around to see what he can get, as well as to get started building his credit with credit cards and paying them off each month.

What are some other options to get around 70k total for a decent truck?