Airline Pilot Central Forums - Interested in buying a plane?

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Interested in buying a plane?

So here's the deal...

I am going in next month to get my PPL, it's a 3 week course. After that I am thinking of buying a C150 or C152 to start building some time. Looking at a plane in the $25,000-$28,000 range and by what I have seen online it is possible to get a decent plane for this amount.

Is anyone interested in doing a 5-6 person partnership? I don't care where we put the plane as I can fly to you for free to build the time, personally I would like to find a nice and cheap field. I figured with 5 people we can all pay $5,000 each to purchase the plane, around $100-$150 per month in membership fee to cover all expenses and then just pay for gas.

So that it's a fair system we can create a google calendar and limit everyone to schedule 20 hours per calendar month up to 30 days in advance, another 20 up to 7 days in advance and however much time you want if within 48 hours in advance and there's availability.

I know there's a ton of you out there trying to build time, the airlines don't care how you get to 1,500 as long as you have at least 100 or so multi-engine.

Any takers???

You should be able to get a really nice 150 for that price and a pretty nice 152. Get a good pre-purchase inspection! A fresh annual doesn't mean much.

Honestly...even for $20,000 you can get a decent 150/152. Divided by 5 people, that's $4,000 each...plus $100-$120 per month to cover expenses and you can log time for around $35 per hour (fuel).

Check out controller.com. You can usually find some good deals on aircraft there if you search hard enough.

I'm in Charlotte, NC and might be interested if we can find enough people.

Quote:

Originally Posted by DALFA (Post 1245646)

i have been wanting to do that for some time now. just cannot find any takers around my way. in in the northeast area. nj/ny

where are you?

I'm in NYC, but I don't care where we tie down the plane as I can fly there no problem.

Look at this bird...

1968 Cessna 150 H in Aircraft | eBay Motors

Even if you end up buying it for $12,000 and have to put in $4,000-$5,000 into it....it's not a bad deal. Plus with the STC it would save a ton on gas as well.

I'm not saying it has to be this one (as the auction ends in 16 hours) but something similar. Under $20,000 total would be great!

Or this...

Search Results

The big thing is the TSMOH. I don't want to pay $20,000 and have to spend another $5,000 on the engine right away.

Hopefully the majority of the partners and pax are under 150lbs!
Not trying to be facetious but for $28K I'd throw in an extra 15k (peanuts on a 20 year note) and get the extra useful load of a C172. Otherwise, you're at 2 hrs fuel or less with 2 persons, especially in the 150 at 10 lower HP. I've owned a 1976 M model C172 and an 81 P model, both of which I obtained for under 40K. Plus you've got the ability to do IFR work in the 172.

I was going to buy my wife (a former FA now learning to fly) a C152 but we've got no utility here in Dallas at 103 degrees.

I've also been in the aircraft sales business and most banks will not finance an aircraft less than 25K, so you're going to have to cash it out if you go that route.