Equipment ownership, simplified

Heavy equipment that pays you.

Buy a fleet that our operating partner rents out across 385 locations nationwide. Receive monthly rental income, claim accelerated depreciation, and own a real asset — fully managed by the 4th-largest equipment rental company in the U.S.

Operated by
Cochran Management LLC · In coordination with vetted program partners
The Opportunity

Three returns from one asset.

Heavy construction equipment generates rental income, qualifies for accelerated depreciation, and holds residual value as hard collateral. Our managed ownership program lets you participate without operating a rental business yourself.

01
Monthly rental income
Equipment generates revenue from day one. Owners receive 75–85% of net rental revenue, distributed monthly to your LLC's operating account.
02
Accelerated depreciation
Heavy equipment qualifies for bonus depreciation under current tax law, often offsetting other ordinary income in year one. For most participants, the after-tax economics are the headline number — consult your CPA.
03
Real, mobile collateral
Mobile, durable, dollar-priced industrial assets serving infrastructure spend. The operating partner's limited-loss guarantee covers up to 9.99% of original purchase price at exit.
The Math

Run your own numbers.

Adjust the equipment purchase amount to see projected cash outlay, annual cash flow, and year-six exit. These figures use the program's published pro forma assumptions and exclude potential tax benefits.

Equipment Purchase
$1,000,000
$250K min $50M

Average fleet purchase is $1.2M. Minimum is $500K.

Your tax assumptions
Combined marginal rate
Bonus depreciation 100%

100% bonus depreciation restored under the One Big Beautiful Bill Act for qualifying property placed in service after Jan 19, 2025. Confirm with your CPA.

Initial Cash Outlay ?10% down payment plus a 3% fleet aggregation fee. The remaining 90% is financed by the lending partner over 72 months with a balloon at exit.
$130,000
10% down + 3% fleet aggregation fee
Annual Cash Flow (Yr 1–5) ?Your share of monthly rental revenue, minus operating costs (maintenance, insurance, telematics) and debt service. The number is small because most of the rental income services the loan in years 1–5.
$9,118
After debt service & operating costs
Year 6 Exit ?Equipment is sold at fair market value at the end of year 6. After the loan balloon is paid off, the remaining proceeds plus the year-6 cash flow come back to you. This is where most of the cash return shows up.
$109,118
Final cash flow + balloon recovery at fair market value
Total Cash Returned (6 yr) ?Sum of years 1–5 cash flow plus the year-6 exit. This is the actual money that comes back to you, before any tax effects.
$154,706
Pre-tax cash-on-cash
Est. Year-1 Tax Shelter ?If you qualify for bonus depreciation and have active income to absorb the deduction, you can claim ~100% of the equipment value as a year-1 tax write-off. At your marginal rate, this is the value of those tax savings.
$400,000
Bonus depreciation × marginal tax rate
Total Economics (Cash + Tax) ?Cash returned plus estimated year-1 tax shelter. For most participants, the tax shelter is the largest single component — that's why this program is built around active-income offset, not yield.
$554,706
On initial outlay above
Cash flow timeline (per dollar invested)
Important assumptions for the tax line: you have sufficient active income to absorb the deduction, you materially participate (or qualify under another active rule), and your at-risk basis covers the equipment value (the personally-guaranteed loan typically counts). Depreciation recapture at year-6 exit is not modeled and will reduce total economics. Your CPA must verify all of this for your specific situation — we don't give tax advice.

Projections only, not guaranteed. Cash flow figures based on the program's published Q2 2026 pro forma: 80% average rev share to monthly target, 72-month term, 90% financing at 7.25% with 120-month amortization, equipment sold at Net Orderly Liquidation Value (the fair sale price under normal market conditions over a reasonable period) in year 6. Tax figures are estimates only and depend entirely on your individual tax situation, which we are not qualified to assess. Actual cash flow varies due to utilization, market conditions, and equipment performance.

How It Works

Five steps. One signature.

From signed agreement to first rental check, the process is designed to be turnkey. Our partner team handles the operational complexity. You make the capital decision and collect.

01
You buy
Through your LLC. Our partner team arranges the equipment purchase and 90% financing. Typical first deal: $500K–$1M, $65K–$130K initial outlay.
02
We manage
Fleet enrollment, insurance, maintenance, telematics — all coordinated by the partner team. You're hands-off.
03
The fleet rents it
Your equipment joins the nationwide rental fleet across 385 locations in 45 states. Branch operators are agnostic to ownership.
04
You get paid
Monthly net revenue distributions to your LLC. The T3 platform shows real-time location, utilization, and revenue per asset.
05
Exit at year 6
The operating partner offers to buy at fair market value. Limited-loss guarantee protects up to 9.99% of original cost. Or remarket to third parties.
Who This Is For

An honest gut check.

This program isn't right for everyone. Lenders require specific financial qualifications, and the asset class needs the right kind of holder. Here's the straight answer on fit.

You're likely a fit if…

  • Net worth ≥ 3× equipment purchase ($3M+ for a $1M deal)
  • Liquid assets ≥ 30% of purchase ($300K+ for a $1M deal)
  • Comfortable with personal guarantee on the financed portion
  • Looking to offset W-2, K-1, or business income with depreciation
  • Want exposure to infrastructure & industrial spend without operating a business

It may not be right if…

  • You can't tolerate cash flow variability month-to-month
  • You need full liquidity in less than 6 years
  • You don't have ordinary income to absorb the depreciation
  • You're uncomfortable with a long-term operational dependency on a single counterparty
  • You'd require investor-style governance rights (this is an asset purchase, not a fund)
Working with Josh

Same deal. Better journey.

The program economics are what they are — your numbers don't change based on how you arrive. What changes is the experience of getting there, and what flexibility is available to you.

01
Flexibility on minimums
Direct application typically requires $1M+ of equipment. Through Josh, the minimum can flex to $500K — and to $250K depending on timing and your profile. Going direct, you get one number: theirs.
02
One person, the whole way
Josh coordinates all three program partners so you don't juggle multiple companies and timelines. He's your single point of contact from intro call through closing.
03
Aligned, not commissioned
Josh earns a referral fee from the program partners when a deal funds — paid by them, not added to your costs. Same terms either way; he's incentivized to find the right fit, not the biggest deal.
Built on real scale

Backed by the operator behind every asset.

Our operating partner is the 4th-largest equipment rental company in the U.S. and runs every dollar of equipment you'll own. Our fleet management partner aggregates participants and handles the relationship. Our lending partner arranges the debt. Together they make the program turnkey.

$4.4B
Operating partner 2025 revenue
385
Operating locations · 45 states
4th
Largest rental company in the U.S.
$3.9B
Equipment under management
1,000+
Existing program participants
100%
Assets connected to T3 telematics
Limited-Loss Guarantee
The operating partner backstops up to 9.99% of original purchase price if equipment sells below its stated floor at end of term — a real downside floor on residual risk.
About Josh

Josh Cochran

Founder · Cochran Capital · Spokane, WA

Josh Cochran is the founder of Cochran Capital, an investment firm focused on real estate, infrastructure, and asset-backed yield. He works directly with the program's partner team to bring qualified participants into the managed equipment ownership program.

Working with Josh means a single point of contact through closing, flexibility on minimums based on his partner relationships, and an advocate for your interests through the lifecycle of the deal.

Disclosure: Josh is not a financial, tax, or legal advisor. He is a participant in the program himself and earns a referral fee from the program's operating partners on completed deals. This relationship does not affect your terms.

Frequently Asked

The honest questions.

Officially $1M. In practice, Josh's partner relationships make $500K typical and $250K possible depending on timing. Q4 sees the most demand and the highest minimums — Q1–Q3 has the most flexibility.

Faster cash flow (rentals start in weeks, not months), shorter hold (6 years vs. 10–30), national diversification (one purchase, 45-state utilization), and dramatically faster depreciation (heavy equipment qualifies for bonus depreciation, while real estate depreciates over 27.5–39 years). Trade-off: less appreciation upside than real estate, and full reliance on a single operator.

Heavy equipment qualifies for bonus depreciation under current tax law. For a participant in the top federal bracket, year-one tax savings on $1M of equipment can equal a meaningful multiple of the cash outlay — often the largest single piece of total economics. Your CPA needs to model this for your specific situation; we don't give tax advice.

The operating partner runs the rental side and is incentivized by their 15–25% revenue share to maximize utilization. The fleet is moved between regions to chase demand. Participant-owned equipment is treated identically to the operator's own balance-sheet equipment. Utilization risk is real, but it's the operator's risk first.

Yes, but with friction. You can market equipment to third parties at any time, with the operating partner having a 15-day right of first refusal. Early exit means you forfeit the full depreciation schedule and may sell into a soft market. The program is designed for the full term.

You do — through your LLC. You hold sole title. The partner team manages the relationship and the operating partner runs the rentals. This is a true sale, not a fund interest, and the equipment is not on the operator's balance sheet.

The lending partner requires unlimited personal guarantees from the LLC's owners on the financed portion (typically 90% of purchase price) — standard for equipment finance, and lenders qualify based on net worth (3× purchase) and liquidity (30% of purchase) accordingly.

The personal guarantee also matters for tax treatment: under IRS at-risk rules, depreciation can generally only be deducted against active income up to your "at-risk" amount, which typically includes personally-guaranteed (recourse) debt but excludes nonrecourse debt. The personal guarantee, required by the lender, is also what enables the full depreciation benefit to flow against active income. Your CPA needs to walk through the at-risk and material participation rules for your specific situation — we don't give tax advice.

Our operating partner is the 4th-largest U.S. equipment rental company by revenue ($4.4B in 2025), with $3.9B of equipment under management across 1,000+ existing participants. They are a publicly-traded company, so audited financials, 10-K / 10-Q filings, and investor disclosures are available — Josh will share the company name, ticker, and SEC EDGAR links during your intro call so you can verify independently. Independent accountant reports specific to the program are also available on request.

We strongly encourage diligence — this is a major capital decision and deserves the same scrutiny you'd apply to any private investment.

Get Started

Tell us about you.

Takes 60 seconds. We'll review your fit and, if it's a match, hand you off to the lending partner to start the application. No obligation, no hard pitch.

By submitting, you consent to be contacted by Josh Cochran and our program partners. Your information is shared only with the program's vetted partners for the purpose of evaluating your participation. We do not sell or share your data.

What happens next

  1. We review your info within 24 hours and confirm fit.
  2. Our lending partner emails you a secure portal to start the credit application.
  3. You upload tax returns + supporting docs through the lender's portal.
  4. Schedule a call with Josh to walk through the deal in detail.
Prefer to talk first?
Book 20 min with Josh →

Or text/call (206) 755-6436