View Poll Results: What would you do w/ 30K?

Voters
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  • T-Crate and hire a CFI

    12 24.49%
  • 85 Horse Citabria and hire a CFI

    5 10.20%
  • J-3 Hire a CFI

    6 12.24%
  • Buy a different plane to learn in

    1 2.04%
  • Buy a super cub, make payments and learn in it, so what if you cant afford to eat

    8 16.33%
  • Silly Man leave the flying to the rich folks buy a wheeler

    2 4.08%
  • If you wan't to see the state w/ 30K get a boat

    3 6.12%
  • Save the money get a license renting a plane

    7 14.29%
  • Only 30K? Your an idiot...

    5 10.20%
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Thread: What would you do with $30K

  1. #1
    Moderator LuJon's Avatar
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    Default What would you do with $30K

    Ok lets say you don't have a plane or a license but want to learn to fly and you have a spare 30K laying around. What would you do w/ it and why?

  2. #2
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    Default Another option

    Put most money in the bank, go to birchwood, buy into one of the 7gcbc's, fly the hell out of it and i think they even have an instructor, when your done and have 200 HOURS THIS YEAR, sell you share and use the rest of the money to buy a nicer plane. I did the numbers and the more you fly the better the club deal is.

    Terry

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    Default 30K

    Since you have access tot he Elmendorf Aeroclub I'd begin by getting my private license there. If you have the money up front and time you can get it done pretty quick and cheap becasue you're not spending time relearning duing your lessons. I did my private at take flight in about 9 weeks. I took 1 week of leave twice and flew two to three times a day during those weeks. While working I flew at least once a day. Total cost about $3,300. After you get your private, fly everything you can and buy into the Birchwood club if that's your thing. In the mean time put the rest of the money in a high interest account and look for a plane that way it works while you look.

    My .02 worth.

    I have been loking for THE plane for a while now and still fly at Elmo and Land and Sea.

    Jeff

  4. #4
    Moderator LuJon's Avatar
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    Quote Originally Posted by AKBrowning View Post
    Since you have access tot he Elmendorf Aeroclub I'd begin by getting my private license there. If you have the money up front and time you can get it done pretty quick and cheap becasue you're not spending time relearning duing your lessons. I did my private at take flight in about 9 weeks. I took 1 week of leave twice and flew two to three times a day during those weeks. While working I flew at least once a day. Total cost about $3,300. After you get your private, fly everything you can and buy into the Birchwood club if that's your thing. In the mean time put the rest of the money in a high interest account and look for a plane that way it works while you look.

    My .02 worth.

    I have been loking for THE plane for a while now and still fly at Elmo and Land and Sea.

    Jeff
    I am just a Vet not retired or active so no access to the base amenities. I got out to stop going to the desert yet still managed to find my way back.

  5. #5
    Member Sierra Hotel's Avatar
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    Default

    Quote Originally Posted by AKBrowning View Post
    Since you have access tot he Elmendorf Aeroclub I'd begin by getting my private license there. If you have the money up front and time you can get it done pretty quick and cheap becasue you're not spending time relearning duing your lessons. I did my private at take flight in about 9 weeks. I took 1 week of leave twice and flew two to three times a day during those weeks. While working I flew at least once a day. Total cost about $3,300. After you get your private, fly everything you can and buy into the Birchwood club if that's your thing. In the mean time put the rest of the money in a high interest account and look for a plane that way it works while you look.

    My .02 worth.

    I have been loking for THE plane for a while now and still fly at Elmo and Land and Sea.

    Jeff
    Jeff, I don't know how you paid only $3,300, but you might want to let everyone know where they can get it done too . If the average pilot takes 60-75 hours (per the FAA), at $115 per hour for the plane alone, that's more than $6,900 on the low side. The minimum is 40 hours flight and 20 hours of duel, leaving a bill of about $5,600 as a minimum cost.

    Of course, if you own your own plane or have access to one for fuel alone, that would alter the equation.

    Cheers,

    SH

  6. #6
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    Default

    I found a plane for less than $30k, and a CFI that got me my ticket in a couple months. You're going to have to buy fuel either way, so why not get some equity in your own plane, that you can fly when YOU want, where YOU want, and know that someone else isn't beating it up.

    I got so tired of trying to schedule time in a rented plane, and the rotating staff at the flight school that it almost turned me off to getting my ticket. After buying my own plane, and finding a private CFI I couldn't wait!

    PM me if you have any questions.

    Bob K.
    Anchorage, AK

  7. #7
    Member tccak71's Avatar
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    Quote Originally Posted by Sierra Hotel View Post
    The minimum is 40 hours flight and 20 hours of duel, leaving a bill of about $5,600 as a minimum cost.
    When did this change? Wasn't it 20 solo/20 dual? I got my license with a lot less than 60-70 hours; less than 50 I think.

    Lujon, aren't you a bigger guy (height-wise)? I'm 6'2 and can hardly fit in a Taylorcraft let alone fly one! I think the Birchwood thing is a good way to go. I thought I saw shares on Craigslist for about $3,500. If you purchased a plane, would it be for flight instruction and then a quick turn around sale? Are you going to want to hunt/fish out of it?


    Tim

  8. #8
    Moderator LuJon's Avatar
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    Quote Originally Posted by tccak71 View Post
    When did this change? Wasn't it 20 solo/20 dual? I got my license with a lot less than 60-70 hours; less than 50 I think.

    Lujon, aren't you a bigger guy (height-wise)? I'm 6'2 and can hardly fit in a Taylorcraft let alone fly one! I think the Birchwood thing is a good way to go. I thought I saw shares on Craigslist for about $3,500. If you purchased a plane, would it be for flight instruction and then a quick turn around sale? Are you going to want to hunt/fish out of it?


    Tim
    Yeah I am a big o' boy so no t-crate for me. I initially started to make the thread about me but then decided to make it more general in nature. Just trying to get a mix of the "what I would have done different" scenarios.

  9. #9
    Member Sierra Hotel's Avatar
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    Quote Originally Posted by tccak71 View Post
    When did this change? Wasn't it 20 solo/20 dual? I got my license with a lot less than 60-70 hours; less than 50 I think.

    Lujon, aren't you a bigger guy (height-wise)? I'm 6'2 and can hardly fit in a Taylorcraft let alone fly one! I think the Birchwood thing is a good way to go. I thought I saw shares on Craigslist for about $3,500. If you purchased a plane, would it be for flight instruction and then a quick turn around sale? Are you going to want to hunt/fish out of it?


    Tim
    Tim, I don't think I wrote it correctly - It's a minimum of 40 hours total flight time, of which at least 20 must be dual. Sorry . .

    The "large" thing is an issue for me too . . I'm 6'4, but fit in a Citabria just fine.

    SH

  10. #10
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    Default

    Tandem may work well, I haven't flown in them much as an adult; my dad use to have an old PA12 and he fit well and he's a big guy.

    With 30k I'd look for a C172, C170 (maybe dreaming) and/or a Stinson. Possibly a Pacer, but those can be hard on the knees/legs for tall guys too. My wife's coworker had a '56 (I think) and it wasn't super comfy to fly and it DID have the seats that moved forward/backward independently; all the way back and I wasn't nearly as comfy as flying a 172.

    There's a 172 (blue-ish) that has been sitting for sale on Merrill Field that has been for sale for awhile. I think it was mid time (1000 hrs?), oxidized paint, and now the tires are flat. I originally saw it at Birchwood 2-3 years ago for $25k I believe. A little elbow grease and it may be ok. Besides that there was a green Maule M4 on Merrill for $34k (two years ago and still for sale for about 30k).

    I'd love to get back into flying, I haven't flown in over two years (except with my wife's coworker in his Pacer). I need a medical and flight review [bienniel (sic)-I can never spell that word!].

    For the record, I voted for the 85 hp citabria + instructor only because I wanted to see the poll results!

    How much is it to rent a 172 on base? When I got my license ('03) it was $63/hour wet for a 172 and I was paying $87/hour wet for a 152. Base or the Birchwood club may be good options.

    Tim

  11. #11
    Member Toddler's Avatar
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    Thumbs up Birchwood Club

    Lujon
    I voted for the J3 but in retrospect the Birchwood club is a good idea. As I understand there are 5-7 active flyers so getting aircraft time is not an issue. What ever you do, once you start, fly every day. One of my tours was as a flight instructor at VT-27 (primary/fixed wing). The students that flew everyday did better and got better grades. The students that sat for any period of time needed warm up flights and did not score as well. Just my $0.02

    Drew

  12. #12
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    Default Citabria

    I picked rent a plane, but I know citabria's rock. They have alot of room, land and take off short if set up right. I owned a 90hp 7ec and it was a real nice plane. It had a prop that was pitched for climbing, and 26 inch good years. Now I own an awesome 7GCBC which has alot of mods and can land about anywhere a cub can. If i remember right your a bigger guy also, and a J3 is one of the best flying planes there is, but you need to be small. Wait and look around and get you a 150 hp citabria or better yet a 160 hp, it made a big difference in mine. Just fly fly and fly.

    Terry

  13. #13
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    Buying an airplane is only the beginning. Make a realistic annual budget for operating and maintenance costs. Then double or triple it. And that's if nothing breaks. The only way most private pilots can justify the expense of airplane ownership is by utilizing a healthy dose of denial about how much it really costs. And that's the truth.

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    Default Reply to SH

    "Jeff, I don't know how you paid only $3,300, but you might want to let everyone know where they can get it done too ."


    I got my license in 2003 from Take Flight - I got it in 42 hours. I believe I got it done so quickly becasue I flew so frequently. I did say yhe cost was approximate +/- a couple hundred I'm sure. $3500 was all the money I had to do it with.

    Respectfully,

    Jeff

  15. #15
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    A couple of my students have bought old straight tail C-172s for 28k to 32K. Take out the back seat and they work just fine. One guy had my old 160 horse converted C-150. It was a little cramped but it really hauled. I sold to to him for 22K.

    T-crates, 85 horse Champs and J3s (and J5s) all suffer from a lack of instruments. While you may be a great tailwheel pilot, there would be a hang-up in doing the instrument training portion of the private test as well as a problem with doing the check-ride.

    A few years ago I bought my newly rebuilt J3C converted to a PA-11-90 for 35K. Then I spent another $7500 buying back the floats...
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  16. #16
    Member AKDoug's Avatar
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    Buying an airplane is only the beginning. Make a realistic annual budget for operating and maintenance costs. Then double or triple it. And that's if nothing breaks. The only way most private pilots can justify the expense of airplane ownership is by utilizing a healthy dose of denial about how much it really costs. And that's the truth.
    Mr Reality I have had the airplane bug for 25 years since I passed my written at 16. Money has kept me out of it completely. Every time I try and work the numbers I fall way short. Hell, I can't even afford to send my kids to college. I have no business with an airplane. Is it fun? You bet..I love to fly. However, the amount of time I get off, and the amount of money I have, leaves me hiring quality air taxis to take me to my hunting places of choice. I really think I could find the money, but finding the time to remain proficient and safe is my biggest doubt.
    Bunny Boots and Bearcats: Utility Sled Mayhem

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    Jon, if I only had $30k in the bank, I wouldn't even look at airplanes. I would put money into a business with residuals, then let the residuals pay for your hobbies.

    I should be done with the kids' college funds by the middle of next year. Then I'll be able to get back into the toy market. Until then, it's the inexpensive toys for me (used camper, used quads, used snow machine, etc...)

    Never, ever, ever, finance a toy. If you can't write a check without checking your balance, you can't afford it...yet
    ><((((>.`..`.. ><((((>`..`.><((((>

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  18. #18
    Member Float Pilot's Avatar
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    For my first plane I raided my kids college fund, borrowed money and rolled quarters. My ex-wife hated that plane like it was another women. Well I did love it more than her anyway...
    The kids eventually got academy appointments and that ex-wife took me to the cleaners.
    So what..
    Now a few more planes later, I am married to my airplane / business co-owner and we are happy as pigs in slop...
    No money mind you,,, just happy....
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  19. #19

    Default Well....

    Had to weigh in after FP's comments

    Mr. mbd has had airplanes since WAY before I was around. If forced to choose between me and the airplane .... I'd be single (and flying commercial.)

    Yes, we have kids that need to go to college. Yes, we have other bills. But he needs his airplane to keep him sane and we both get to enjoy this great land we live in.

    So, if I got to vote, go buy SOMETHING. Fly it, find somebody who likes to fly with you to share your life with, and never look back.

    The current mistress is a SuperCub, but there's a lot of honest Bush planes around that will be happy to teach you how to fly. A low-end spam can (as FP said) will teach you nearly as much and maybe be a bit more forgiving.

    Whatever, enjoy!

  20. #20
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    I would also seriously think about how easy the particular aircraft would be to convert to floats.

    For example, a J3, PA-11, T-craft, Champ, Citabria and Supercubs are all easy to mount with float fittings.

    Cessnas came from the factory as either set up for future float fittings or not.
    And while an older C-172 or C-170 without the float mount reinforced areras, can be converted, it is rather expensive and time consuming.

    And if you are thinking to yourself, "Why would I need floats? I can land on gravel bars...."
    Well, let me explain. There are a lot more nice lakes than nice gravel bars.
    PLUS, a non-shortfield plane on wheels, can become a great bush plane when it is allowed to land on the water.

    How come my photos all come up as thumbnails that have to be clicked to enlarge???
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