Investors needed to pay off airplane loan, to do high end rental to high time pilots

spikethebest

spikethebest

Well-Known Member
Hello,

I have a very low time 2005 Cessna 182 G1000, and I owe about $149,000 on it. I have a lot of people that are lined up to fly this airplane for rental, not for training, however, the bank keeps on stalling on the paperwork to convert the loan from personal to commercial. So I thought if I got a few private investors, they could act like the bank.

I am offering....

Loan of $149,000, paid back over no more than 12 years at 5.75% with payments around $1440 per month.

PLUS

Profit from the business of renting the aircraft. I have a lot of people that want to fly it 10+ hours per month, every month at $220 per hour.

The airplane is hangered at Van Nuys, California. It has 590 total time on it.

Only highly qualified, high time pilots will be allowed to fly this airplane. It appraised for $265,000, so there is a lot of equity in it.

The insurance side of the aircraft for commercial is completely taken care of, just the bank is being extremely slow on processing the paperwork.

If you, or you know any investors that would like a monthly check from the loaned money, and see a return on the investment from the profit from the airplane, please have them contact me.

Thank you,
Cory

Cell 661-312-6311
Email laguskeraviation@gmail.com
 
Sounds like a neat idea, but, there's a reason why the bank is stalling. Equity or not, if the plane disappears, the private investors only get a lien and lawsuit as payback.

220 an hour at 10 hours a month doesn't instill confidence in success. That's roughly 22-30k a year in rental money. Insurance on a 182 on a rental ticket, can run you 5-10k/yr. Annual as you know, 3-7k. Hangar/tie down in Van Nuys? What that, at least 4k /year?

Not trying to be negative, but, from the outside, looking at your post, there's no money in it, and a lot of risk.
 
highspeed said:
It sounded to me that he's got several people each wanting to fly 10hr/mo. so maybe 50 hrs a month? idk.

Anyway, I don't think I can offer any value in this business. For that reason, I'm out.
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Even so, the prospect of making money with one airplane, is minimal at best.
 
Yes I do have many people who want to fly it. They are just waiting for the paperwork to be sorted out.

So I expect at least 50 hours per month. With that number, there is for sure money to be made.
 
Based on experience, and just for budgeting purposes, I'd cut the estimates people give you on how often they will fly down by 75%. Best wishes to you, I love to see other people trying to make a go of making GA accessible for different segments of the population.
 
TUCKnTRUCK said:
Sounds like a neat idea, but, there's a reason why the bank is stalling. Equity or not, if the plane disappears, the private investors only get a lien and lawsuit as payback.

220 an hour at 10 hours a month doesn't instill confidence in success. That's roughly 22-30k a year in rental money. Insurance on a 182 on a rental ticket, can run you 5-10k/yr. Annual as you know, 3-7k. Hangar/tie down in Van Nuys? What that, at least 4k /year?

Not trying to be negative, but, from the outside, looking at your post, there's no money in it, and a lot of risk.
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You are probably going to need to address this issue before you get any investors on board.
 
Why don't you get all of these " interested parties" to buy a share in the plane equivalent to their projected flight needs?
 
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