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Making money using your toys.
Posted: Wed Jan 28, 2009 11:29 am
by Bennie Vorster
Guys, I need to make a plan to let my toys make some money so I can either upgrade them or buy some more toys.
I found that I loose more mony by speculating with planes than making money, so the next option might be to
Hire the Bush baby out to fly. Or to make it avaliblt to a flying school to do some traning hours on it at a rate.......
What will you guys sugjest ......
Re: Making money using your toys.
Posted: Wed Jan 28, 2009 11:34 am
by Stephan van Tonder
If you find insurance that makes any of those 2 schemes viable pelase let me know.
Re: Making money using your toys.
Posted: Wed Jan 28, 2009 12:34 pm
by skybound®
Stephan van Tonder wrote:If you find insurance that makes any of those 2 schemes viable pelase let me know.
It can be found - it is just expensive - even on TCA types. If you can work your aerie at least 30 hours per month, it can break evenish. We find with TCA, only after about 50 hours does it begin to make a little money.
There is of course the overiding factor:
How do you make a small fortune in aviation? Begin with a large one
Re: Making money using your toys.
Posted: Wed Jan 28, 2009 2:01 pm
by Tailspin
If you hire and Fly it will eventually pay but then just make sure your insurance is ok.
I would pay my part of insurance for an aircraft i can hire and fly just to cover my ass and the aircraft incase i oops.
Re: Making money using your toys.
Posted: Wed Jan 28, 2009 3:26 pm
by skybound®
My experience with the insurance is thus:
Owner : 2.5%
Dual training: 5%
Solo: 7.5%
Hire & Fly: 12%
That is correct - they rate the H&F a higher risk. It does make some sense since when solo - the guy is more often than not by the book and by the numbers. It is H&F okes with bad habits etc that are seen as more of a risk.