On Thu, 10 Jul 2008 23:18:45 +0000 (UTC), gatt
wrote:

EridanMan wrote:

All I can say is you need to prepare not only for the financial
outlay, but the emotional/physical/attention outlay as well. For me,
it was far more effort than it was ever worth.

Consider yourself warned by a bitter fool

LOL! Thanks, Scott. Duly noted.

My goal is to be able to make money teaching in my own plane (leaseback
or not, whichever is the least expensive) instead of having somebody
else making the money off of my students. If it's too much of a
headache--your experience seems particularly relevant there--I'll find
some other side business, I guess.

Oops! You can't do this without a Part 135 certification/approval.
The catch is providing the plane that you instruct in.

You can get around this in a leaseback, but you have to let the
student and/or FBO schedule your plane -- you cannot be in the
scheduling loop, and you better get copies of the weekly/monthly
booking sheets in case you have to back up your non-involvement to the
FAA.

That said, leaseback can be safe and financially rewarding, but more
for a student of PP, not for an instructor, by cutting your cost of
plane ownership. With a leaseback, all the fixed costs of operation,
and all ther vaiable costs associated with rental use can be claimed
as expenses.

I did this for 14 years with a C172, and it worked out very well for
me.

But, as someone earlier said: 'TREAT IT LIKE A BUSINESS!"