Paying to Finish

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01-28-2018, 05:54 AM

#21

Nick1984

RSA 4 Life

Joined APC: Dec 2014

Position: J-3 Front AND Back

Posts: 24

I always wished I would have used that money to just buy a plane to get all my ratings in and sold it when done. Or leased it to a flight school.

01-30-2018, 01:20 PM

#22

brocklee9000

I Pass the Butter

Joined APC: May 2017

Posts: 555

Quote:

Originally Posted by Nick1984

I always wished I would have used that money to just buy a plane to get all my ratings in and sold it when done. Or leased it to a flight school.

Yeah sometimes I'm like "man I see all these guys buying little two seaters and flying the crap out of them" and see their hourly costs. But since everything was part of my degree, I was eligible for student loans and they covered all my flying. So on the one hand. I can say "man I should have just done that." But on the other hand, I wouldn't have had the money if I couldn't get all the student loans, so it's a bit of a catch-22.

02-01-2018, 01:15 AM

#23

Nick1984

RSA 4 Life

Joined APC: Dec 2014

Position: J-3 Front AND Back

Posts: 24

Wouldn’t the recoup have offset the investment?

I know this isn’t a realistic sitch for most newbies, but its worth a number crunching if you’re sure you’re going the whole ride....

02-01-2018, 04:30 PM

#24

loganeich

Line Holder

Joined APC: Mar 2017

Position: TBD

Posts: 86

Until you own a plane, you have no idea what they cost. Owning a plane is great, but the purchase price is really nothing compared to owing/operating. At any time, a massive unexpected bill can come in and you need to be prepared. These numbers are in thousands normally.

02-02-2018, 09:06 AM

#25

brocklee9000

I Pass the Butter

Joined APC: May 2017

Posts: 555

Quote:

Originally Posted by loganeich

Ding ding ding. That's why up front, it sounds awesome. "My costs are like $60/hr" or "we can go 50/50 and it'll be about $40/hr per person." And then you go on reddit or other forums and see the woes of aircraft owners, especially aging planes that have the allegedly lower hourly cost. Some people get boats, some people get motorcycles, some get planes, and some of us just skip that and get paid peanuts to fly.

02-06-2018, 09:09 PM

#26

Nick1984

RSA 4 Life

Joined APC: Dec 2014

Position: J-3 Front AND Back

Posts: 24

Quote:

Originally Posted by brocklee9000

It’s not as impossible as you make it sound, especially if you can escape financing associated costs. Pay now or pay later; if I were still trying to make my bones in this job environment, I’d get my time ASAP to get to a real plane....even if it meant eating the cost of an o-200. My $0.02, buyer beware...especially if you’re flying for peanuts.