I know one. He has had a plane at the same school for years, and always
made money. I know of a few others who are certainly making money. And
this is over the past 3 years with the doubling of insurance.

Funny, he was hard to get to talk about it. Also, the other winners were
hard to get hold of. Now the guys who don't make money are quick to talk
about it, and how it was anyone's but there own fault. I listened to the
guy that was making money, and even though I took a different approach, I am
doing okay.

I bought a new plane, and still have a nearly new plane. Could not have
done it without the leaseback. I have the option to take the plane off the
line, add extra's and refurb it to better than new. And I would still be
ahead so long as I avoid recapture. Avoiding recapture is simple enough, so
that's not a problem. I put all the tax rebates back into the bank loan and
refinanced, and now my payments are in the used plane range.

I will likely continue this year and trade up next year, and start over if
they still have the bonus. It all depends on if the hours go up in the
plane, or if I can sell my plane close to asking. If not, I can leave it at
the school and hope the hours increase a bit, or I can take it out, fix it
up, and have a plane I could not affford.

If you can create a business use and get depreciation without a leaseback,
then you may be better off. If you can afford the plane you want, then why
bother? If the plane you want is out of your reach you can make it work.




"Jay Honeck" wrote in message
news:Wqvyc.1890$Hg2.18@attbi_s04...
Asking price is $28,000. The engine has about 600 hours since the last
overhaul.

A bit high for a 152, no?

And, BTW: In ten years I have not met a person who made money in a
lease-back arrangement.
--
Jay Honeck
Iowa City, IA
Pathfinder N56993
www.AlexisParkInn.com
"Your Aviation Destination"