Bird vs C172
- Thread starter mrivc211
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killbilly
Vocals, Lyrics, Triangle, Washboard, Kittens
Ouch. Renter's insurance? Is he on the hook for the deductible?
mrivc211
Well-Known Member
You beat me too it.
mrivc211
Well-Known Member
If they taxi fast and slam on the brakes smoking my tires I hit them with a new set of tires(all disclosed at sign up). He can’t really avoid a bird so I can’t fault him for it. We were able to repair it in house so I’ll good with that. I don’t wanna build a bad rep for that one flight school that abuses students.
killbilly
Vocals, Lyrics, Triangle, Washboard, Kittens
You’re a good dude.
The school I teach for maintains a no-subrogation policy - which is great, but does put renters on the hook for the deductible if a claim is filed.
If there is a CFI on board, the CFI is liable for half that deductible.
Dunno how they’d handle a bird strike. Probably not like you do.
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CFI A&P
Exploring the world one toilet at a time.
You’re a good dude.
The school I teach for maintains a no-subrogation policy - which is great, but does put renters on the hook for the deductible if a claim is filed.
If there is a CFI on board, the CFI is liable for half that deductible.
Dunno how they’d handle a bird strike. Probably not like you do.
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That situation played out at my flight school. It was a dual night XC and a bird strike that wasn't detected until the first pre-flight the next morning. The school owner had the student cover the deductible, but the airplane owner wanted the loss of use clause exercised to maximize their revenue during the down time. Ultimately the insurance company called it an act of god, the school didn't consider it negligence worthy of enforcing the loss of use clause and owner took their airplane offline after it was repaired.
@mrivc211 Do you have any idea what is going on with those hangars on the east side of SNA with the paneling missing?
mrivc211
Well-Known Member
They're getting redeveloped after the westside is done. I've been on a $1500 deposited waitlist for 5 years for them. I have a $50,000 deposit on a 42' T hangar on the westside development due to break ground in Jan 2022. The sale price is $420,000. No financing. It's absolutely insane, but theres so many billionaires in the radius of the airport and money bleeding from their pockets everyones paying. The 60' hangars are going for $1.2 Million and they're sold out. That same hangar thats going for $1.2M is selling for $250k in KCNO and the one I'm buying for $420k is selling for $28,000 at KCNO.
I'm renting a hangar for $800 per month right now in Pomona that I intend to keep when my SNA hangar gets built. I do aircraft sales now too so I store the planes in their when we have to do overhauls or any airframe work.
I'm mostly buying the SNA hangar for business leverage purposes. They currently allow us to do mx on the ramp but I foresee that going away when the new hangars are built. I'm leveraging my longterm sustainability by buying a hangar so that if they say no more mx on the ramp, I just move all of it into the hangar.
SNA will look like CRQ in about 2-3 years. All hangared out with little to no GA parking. I've been going to the meetings for 7 years.
mrivc211
Well-Known Member
On a lighter note, I just bought a 2015 172S model. Its being transported here next week. It's gonna have a new engine, prop, paint. I'll post a pic once I'm done with it. The piper I bought a few months ago is about a month away from being painted/engine install. I'll post these up as they come out.
killbilly
Vocals, Lyrics, Triangle, Washboard, Kittens
I'm curious as hell what you paid for the 172S. We're always on the lookout for them but the prices we've been finding border on insanity. DM me if you don't want to share in-thread.
mrivc211
Well-Known Member
It doesn’t have an engine but I don’t care. I can install it myself with my A&P for $20,300 plus $1k to my mechanic for helping me. This plane is worth $400k
killbilly
Vocals, Lyrics, Triangle, Washboard, Kittens
Damn. That's a fantastic deal right there. Good for you.
mrivc211
Well-Known Member
Dude it’s absolutely insane pricing right now. I’m in the middle of doing a complete refurbish on a Piper Cherokee. It’s gonna command $120k
killbilly
Vocals, Lyrics, Triangle, Washboard, Kittens
We recently had a pair of late-model G1000 Nxi 172s in our fleet on leaseback - one was sans A/P (it had been a special order from Cessna.) They flew a LOT - I'd heard secondhand that the owner was netting about $10K a month on them.
Ultimately, he and his accountant made a different decision and he opted to sell them.
More than $400K. Each. And there were multiple bids.
mrivc211
Well-Known Member
It's definitely worth it to flip them for a quick sale then to let them fly and slowly lose depreciation from students running into birds I should clear about $200k profit on this 2015 I just bought and $65k on the piper. I'm able to do this because my flight school pays for the maintenance personnel, hangar, tooling, etc. If I had to pay retail and take the planes to a shop, no way jose.
I should clear about $200k profit on this 2015 I just bought and $65k on the piper. I'm able to do this because my flight school pays for the maintenance personnel, hangar, tooling, etc. If I had to pay retail and take the planes to a shop, no way jose.
Roger Roger
Bottom of the list
Man, I’ve got the skills and equipment to do a lot of refurb work myself, I should try flipping oneIt's definitely worth it to flip them for a quick sale then to let them fly and slowly lose depreciation from students running into birds
killbilly
Vocals, Lyrics, Triangle, Washboard, Kittens
You really should. Where I'm seeing a ton of interest from buyers is on airplanes with glass upgrades and deleted vacuum systems. They're damn near paying for themselves.
The buyers I'm seeing are generally newly minted PPL or PPL+IR and they want something like what they trained on. And out here, there's a lot of them with a lot of cash to spend.
Roger Roger
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