Buy a multi to build time?

[drl5555]

Myself and 3 other flight students at Purdue (all Jcers, too) have been throwing around the idea of buying a light twin to build some multi time before we graduate in May '07. Does anyone have any advice as to whether this is a viable plan? Obviously the risk of unscheduled maintenance, engine overhaul, etc. are the biggest question marks, but if all goes well it could be a good investment and save us lots of money in the long run. Any advice is appreciated.

[EatSleepFly]

Buying any amount of multi time isn't really worth it, in my opinion. Especially not if you're the safety pilot biatch (yes, it puts #'s in the column, but its not good experience).

I certainly can't imagine that buying the twin itself is worth it either (if you only intend to use it for time-building). Unless you have a lot of money laying around, in which case, I could think of a lot better ways to spend what would probably amount to at least $25k (each).

Go to a maintenance shop and look at some costs. Also, call the insurance companies to see what premiums might be with four low-time owners. I would suspect that it's not exactly a "seller's market" when it comes to light twins either, so take that into consideration because even if you're not flying it while you're trying to sell it, it will still cost you money.

You're a CFI, use it (and get your MEI). A little networking, luck, and willingness to move around if necessary, and you won't have a problem getting multi time.

If you must buy a twin, talk to some flight schools first. It's possible you could recover some costs by doing a lease-back thing, but I wouldn't count on getting too many bites so don't buy the twin first and look for participants later!

[fender_jag]

What kind of twin are you considering?

[drl5555]

Originally Posted by fender_jag

What kind of twin are you considering?

We're focusing on an Apache in the $50,000 range, but we'd consider any kind of light twin (Seneca, Seminole, TravelAir, Duchess, etc.). Currently one of the potential partners is an MEI, and the plan would be for the rest of us to get our MEIs from him right away, so that both pilots could be logging flight time together. All of us are currently active CFIs, however we're looking to build some multi time (there aren't exactly a multitude of opportunities for MEIs in the area). From what we've been quoted we expect insurance to be about $5000/year, and hangar expenses about $200/month.

[pilot602]

Originally Posted by EatSleepFly

Buying any amount of multi time isn't really worth it, in my opinion. Especially not if you're the safety pilot biatch (yes, it puts #'s in the column, but its not good experience).

I certainly can't imagine that buying the twin itself is worth it either (if you only intend to use it for time-building). Unless you have a lot of money laying around, in which case, I could think of a lot better ways to spend what would probably amount to at least $25k (each).

Go to a maintenance shop and look at some costs. Also, call the insurance companies to see what premiums might be with four low-time owners. I would suspect that it's not exactly a "seller's market" when it comes to light twins either, so take that into consideration because even if you're not flying it while you're trying to sell it, it will still cost you money.

You're a CFI, use it (and get your MEI). A little networking, luck, and willingness to move around if necessary, and you won't have a problem getting multi time.

If you must buy a twin, talk to some flight schools first. It's possible you could recover some costs by doing a lease-back thing, but I wouldn't count on getting too many bites so don't buy the twin first and look for participants later!

It worked for me. Our aircraft has appreciated and so we will be able to recoup a lot of our training costs. And safety pilot time is valuable - for it's own reasons but it should not be discounted out of habit.

[wheelsup]

My buddy's dad bought him a '65 Travel Air. I've taken a few flights in the thing, it's nice. 12-14 GPH fuel flow leaned out, I'm sure you could even bring it back further (why spend more $$ to get less time !?!). It worked for him, he got about 300 hours or so in it and at 900/300 went to commutair right after graduation, while the rest of us were still instructing. He did instruct part time as well, but only had about 200 hours or so of dual given.

~wheelsup

[Philip]

there was just another thread about it a few weeks ago, darn who was that guy that bought an airplane for just this purpose??

Anyway, the costs are there but it doesn't sound like a bad idea to me.

[Chris_Ford]

Originally Posted by Philip

there was just another thread about it a few weeks ago, darn who was that guy that bought an airplane for just this purpose??

Anyway, the costs are there but it doesn't sound like a bad idea to me.

The difference is that we're done with all our training... The other guy was going to do it for training.

[GaTechKid]

Currently one of the potential partners is an MEI, and the plan would be for the rest of us to get our MEIs from him right away, so that both pilots could be logging flight time together.

That's good if you're talking about logging flight time because one pilot is training for his MEI, but a bad idea if you keep planning to log the same time just because two of you are MEIs.