Buying a light twin?

[Vik]

Would it be cost effective buying a light twin like a Piper Seminole to log about 500hrs of time .. keeping it for a year and then selling it?

I don't know much about buying/selling airplanes, so I am not sure if it is just cheaper to rent a light twin and split the time with someone or buy a twin and split that time with someone.

 

[Rvrrat]

First thing to do would be to talk to an insurance agent & determine what dual time you're going to need to get a decent rate. It appears you're planning on doing your MEL in the a/c you may buy according to your profile so finding out what you're going to get dinged for insurance should come before make & model. Lot a MEL training done in Seminoles & Dutchesses however a TravelAir that isn't chewed through with corrosion or an Aztec that isn't ragged out is worth considering. Wouldn't advise the Apache for initial training unless you want to get real familiar with VMC.

All the best,

 

[azpilot]

Yes and no. I agree check to see what the insurance will cost. It just depends on the plane and how much you are willing to pay up front. I think if you bought a twin in good shape for between 90k to 130k you would have something that could be pretty dependable. Just remember anything can and will happen. So be prepared for something major like an engine overhaul which will cost you 12-18k. Rental rates are getting so steep that if you fly more than 150 hours per year it is definitely cheaper to own. My single engine plane is very cost effective. I have debated about getting a twin but I fear having a more complex airplane just increases the risk for expensive repairs to much. I think a lot of people buy junky twins to build time and are putting themselves as risk to often. An Aztec, Twin Commanche, or Seneca might no be a bad choice.

 

[LR25]

Check the rates on aircraft maintenace if you are not an A&P or going to have some you know who is an A&P to sighn stuff off.

It can get rediculous to pay for maintenance.

You also want to look for an airplane that has a low amount of AD's and reoccuring AD's, engines and props as well, can you tell I'm a mechanic, sorry.

I have seen people put thousands into airplanes, and thats before they even fly them much.

 

[TurboS7]

Back in 1978 my father-in-law bought an Aztec for 28K with full deice and radar. I flew it about 2000 hours and did all the maint. on it . All I had to do was buy a pair of jacks. I also put in on my single pilot 135 certificate as a start. Then I went multi pilot with the certificate and things really broke loose for us. We went to 12 airplanes and were really busy.

 

[Dieterly]

...and then the Feds came and things really slowed down.

 

[cougar6903]

TurboS7:


Where did you run your 135 business out of and what kind of planes did you operate? Was it a passanger or cargo company? Would you recomend the biz ???

 

[Country Wild]

No not in todays market..pm me

 

[Vik]

Thanks for the replies guys.

I was thinking about buying a twin because I would like to just fly it all over the place and build some quality experience. Do a trip to New York from Calif, etc. I can't do that with a rental. I mean, sure I could do it with a rental, but I'd imagine the money could be better spent on a plane.

Ever since the airline slow down, I decided to pursue some business idea I've had for awhile. It has taken off like a rocket and so the money is available. I've heard financing is can be done over 20yrs or so and thats how this idea came to be.

Anyhow, thanks for the advice. I am going to research this further.