LowanSlow
Pre-Flight
Hey all, recently started looking at what appears to be a really nice IFR Cessna 150 (hanger Queen) with low times and full logs, problem is that its sat for a couple years, albeit in a nice hangar. Plans are to buy the airplane and remove the engine and freshen it up at the school I attend for my A&P, then annual it again. what has me interested is that where im at, I could have it rented for between 150 to 200 hrs. per year. ive taken into account the maintenance (annual+100hr), comm. insurance, hangar fees, tires/tubes, brakes, oil changes, fuel cost for 200 hours, and misc. things for the first year. My question to you who have rented aircraft before, do these numbers even sound close to actual cost?
the numbers ive came up with so far using 200 hrs of flying a year.
$10550+.33% reserve for the unexpected for the first year + all maintenance, insurance, fuel, misc. ( excluding aircraft purchase price)
$100 per/hr rental rate at 200 hrs
1. What would be the best insurance company to go with for the insurance on this plane being a rental.
2. In general, is this just a bad idea being that this would be my first plane.
I don't expect to make much if any money, I just want to be able to help the plane pay for itself in 3-5 years.
Thanks for the help.
the numbers ive came up with so far using 200 hrs of flying a year.
$10550+.33% reserve for the unexpected for the first year + all maintenance, insurance, fuel, misc. ( excluding aircraft purchase price)
$100 per/hr rental rate at 200 hrs
1. What would be the best insurance company to go with for the insurance on this plane being a rental.
2. In general, is this just a bad idea being that this would be my first plane.
I don't expect to make much if any money, I just want to be able to help the plane pay for itself in 3-5 years.
Thanks for the help.