Possible?

cathanas wrote:
Hi,

I have wanted to get my pilot's license for most of my life. My
father was a pilot in WWII and Korea and owned airplanes up to the
time I was small. I am now in a position to start on my goal and I
need to ask a few questions answered. I fear I am searching for the
"Holy Grail", but can a person purchase a trainer (Cessna152 or maybe
a Piper 140), low engine time and in good shape, and hope to negotiate
a lease-back deal with a flight school in order to minimize the out-of
pocket expense of building time? I'm not looking at making a living
off of rental, just offsetting my fixed costs and pay for my gas. My
son and niece, both in college, also want to learn to fly, so I
figured we could all use the "family" plane. I have put together some
numbers based on information gleaned from the internet and it looks
possible. But again, I don't want to spend my time tying to invent a
perpetual motion machine when it doesn't exist. Any thoughts would be
appreciated.

Thanks

The leaseback deals I've seen, I wouldn't do it. Wouldn't be worth it.
I've been on the flight school side of leasebacks and in my
experience they are no bargain for the owner. Another thing is the 152
will be harder to lease to a flight school than a 172. At least in the
Atlanta, GA area that's true.

If you just buy the 152 outright, or with partners (son and niece?), and
use it to get your training, you will generally come out ahead, without
having to go the leaseback route. And since only the owners will be
flying the plane, it will be in better shape when it comes time to sell
it than it would if it were rented out.

If I had it to do over again (I was in your shoes exactly 5.5 years
ago), that's what I would do.
--
David Hill
david at hillREMOVETHISfamily.org
Sautee-Nacoochee, GA, USA