CFIs who purchased planes - was it worth the hassle to instruct in your own plane?

MarkH

MarkH

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MarkH
I'm still kicking around making a move to professional pilot via CFI and possibly beyond. I am also shopping for my next plane (though less dedicated now that I am in a good club).

I am shopping for a personal plane, looking mostly at Experimental (prefer E-LSA, but also EAB) type certificates. Occasionally I come across a nice S-LSA that is a little above my budget and I think "I would be able to rent that out for instruction".

I am looking for a reality check on that thought. Realistically, would it be worth paying a little extra to have that option with an LSA?

A little background, I am late 30s looking for a plane to have as personal transport, building time and (potentially, once I get there) part-time CFI work.
 
I haven’t personally, but know plenty who have. The short answer is no, it rarely pencils out. Unless you’re going to do it frequently enough that the income generated will offset the higher insurance premium and necessary maintenance that is required from entering for hire operations.
 
For me, it was mostly a break-even experience as far as the aircraft are concerned, but there are things that could have made them more profitable. At the end of the day, there are some non-tangible side benefits to it, such as learning about your own aircraft, having a bit more knowledge about a specific aircraft type, and having more flexibility.
 
MarkH said:
I am shopping for a personal plane, looking mostly at Experimental (prefer E-LSA, but also EAB) type certificates. Occasionally I come across a nice S-LSA that is a little above my budget and I think "I would be able to rent that out for instruction".
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I wonder what the market might be for instruction and/or renting such an aircraft. The major manufacturers such as Cirrus, Cessna and Piper, all have a logical progression from the smaller models to larger, more powerful airplanes, which is a benefit. I see folks who started in Cessna 150s or Cherokee 140s end up in C-182, C-210, etc. and PA-28-180, 235, or PA-32s. Brand loyalty is real. It doesn't seem available with your idea.
 
100 hour checks would get boring. What happens when the plane goes down for maintenance and student gets left hanging?
Just giving BFR or tailwheel endorsements might work. Acro maybe.
 
I dont think you can instruct in your own Experimental, not sure about light sport.
 
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Every time that I've looked into buying an aircraft to use for instruction/rental I've concluded that I would be subsidizing other peoples flying at the rental rates commonly found in my area, unless I could somehow get it to fly more than ~350 hours per year. And that is even with having the advantage of being able to provide both the flight instruction and the maintenance myself. The conclusion may be different depending on location, but I think it is generally going to be the same in most places.
 
4RNB said:
I dont think you can instruct in your own Experimental, not sure about light sport.
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You can instruct and rent out SLSA planes, and I am trying to decide if it is worth spending a little more to get an SLSA.

With a LODA, instruction can be done in an experimental, but (as I understand) the plane cannot be rented for solo. This functionally limits the instruction opportunities to transition training.
 
You can instruct them in their experimental, but I don't believe you can charge a rental fee for one you provide.
 
Sure, if you are a CFI, A&P with AI and good business plan…
 
Clip4 said:
Sure, if you are a CFI, A&P with AI and good business plan…
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I think this statement hits the nail on the head to keep cost and downtime low.
I bought a Light Sport to instruct in. On average, it was utilized 600 hours per year so that is five “100 hour” inspections between the “annual inspection” and that can equal a lot of downtime.
For me “Flight school” Insurance is in the $6000 range per year.
In the big picture – this was never meant to be a profit maker. Instead, it is a time builder.
 
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