Spare airplane - rent out or mothball.

M

mtuomi

En-Route
Joined
Sep 6, 2013
Messages
3,056
Location
Dallas, TX
Display Name
Display name:
dera
So, it looks like I might have bought a plane (it's in prebuy at the moment). A C150 with average P/I but a good strong engine with plenty of hours left.
There are two problems. A) I haven't told the wife and B) I'm in Korea for another year.
So, if prebuy goes through OK, I have a plane that I can't use for a year apart from a couple of months this summer. I was thinking of two options; either find a cheap hangar from somewhere where it's dry (ideas where you can find the cheapest hangars in the country?), or rent it out for maybe 100-200 hours for pilots (I already have a few who would do a 50hr/30 day dry lease)

The plane is not "my pride and joy", I don't care if it gets more hangar rash. It's more of a plane to learn plane ownership with.

Numbers sort of work out for renting, 40USD/hr dry rate * 50 = 2000USD for month's dry lease. Assuming the plane doesn't mechanically break down badly during those hours, it sounds like an OK deal. Insurance said OK for adding 3 named pilots.
I think in this operation it would need a 100hr inspection? Plane would obviously be owned by a LLC if I rent it out.

I don't really need the income, but I know a flying plane is a happy plane - even if I break even, with maintenance reserves, I would be OK with this. Not sure if anyone would do a leaseback on a C150...

The other option is just to find the cheapest hangar there is, and mothballing it for a year. Any ideas for bargain hangar leases, somewhere dry but doesn't have to be easily accessible, I will only fly in and fly out 12 months later so Middleofnowhere, KS would be just fine. How would you mothball the engine apart from filling it with fresh oil. I know how to mothball car engines but not sure if same ideas work for plane engines.
 
C-150 I would rent rather than store. Machines need excerise or they go to crap.
 
Henning said:
C-150 I would rent rather than store. Machines need excerise or they go to crap.
Click to expand...

OWT.. if it were true every aircraft in he fleet would have a bazillion hours on them. most aircraft have sat for long periods. yet they fly on.
 
mtuomi said:
So, it looks like I might have bought a plane (it's in prebuy at the moment). A C150 with average P/I but a good strong engine with plenty of hours left.
There are two problems. A) I haven't told the wife and B) I'm in Korea for another year.
So, if prebuy goes through OK, I have a plane that I can't use for a year apart from a couple of months this summer. I was thinking of two options; either find a cheap hangar from somewhere where it's dry (ideas where you can find the cheapest hangars in the country?), or rent it out for maybe 100-200 hours for pilots (I already have a few who would do a 50hr/30 day dry lease)

The plane is not "my pride and joy", I don't care if it gets more hangar rash. It's more of a plane to learn plane ownership with.

Numbers sort of work out for renting, 40USD/hr dry rate * 50 = 2000USD for month's dry lease. Assuming the plane doesn't mechanically break down badly during those hours, it sounds like an OK deal. Insurance said OK for adding 3 named pilots.
I think in this operation it would need a 100hr inspection? Plane would obviously be owned by a LLC if I rent it out.

I don't really need the income, but I know a flying plane is a happy plane - even if I break even, with maintenance reserves, I would be OK with this. Not sure if anyone would do a leaseback on a C150...

The other option is just to find the cheapest hangar there is, and mothballing it for a year. Any ideas for bargain hangar leases, somewhere dry but doesn't have to be easily accessible, I will only fly in and fly out 12 months later so Middleofnowhere, KS would be just fine. How would you mothball the engine apart from filling it with fresh oil. I know how to mothball car engines but not sure if same ideas work for plane engines.
Click to expand...
Since you haven't even seen the airplane, and won't be managing the rental yourself, and won't be able to monitor it to make sure it's being properly cared for..I would *highly* suggest you just store it until you get back.
 
Find a nice hangar and store the airplane,if you can't be around to manage the maintenance and care of the airplane,you could return to find a less than desirable plane.
 
ya.....just rent it out and let someone beat the heck outta it while yer gone. :D
 
Are these potential renters your buddies, or just some people you know? What I'm getting at is, are these guys that you otherwise know, trust and have been friends with? Or just some people you know tangentially that might be great stewards of your plane, or might beat the snot out of it literally like a rented mule?
 
Now I wouldn't do this for just anyone but I will fly your plane for you. Since I am not commercially rated I wont even charge you to do it.:D
 
Tom-D said:
OWT.. if it were true every aircraft in he fleet would have a bazillion hours on them. most aircraft have sat for long periods. yet they fly on.
Click to expand...

Ofter after major maintenance. Planes that sit get mice/rat nests that corrode the airfram from **** along with other corrosion factors even if you do pickle the engine to keep it from rotting inside.

Way more planes get scrapped from sitting than crashing.
 
Last edited:
Flavius Renatus said:
KMLI (Moline, Illinois) has hangers available for $135/mo which includes utilities.

Flav
Click to expand...

Which adds up to over 10% the cost of a 150, and then there's a couple hundred bucks in pickling it for storage. That's also a dirt cheap hangar.
 
Lotta different things you can do to preserve, such as:

http://www.aircraftspruce.com/catalog/eppages/tanis1.php

http://www.tcmlink.com/pdf2/sil99-1.pdf


Airframe wise? Mice and insects are always looking for a home and is a concern.

http://www.pilotsofamerica.com/forum/showthread.php?t=82938&highlight=mice


One guy rolled out his 172H after a long storage period and wound up in a corn field after the wasp nest in the carb heat box came loose. I'm not sure if he was "test flying it" out of annual or someone pencil whipped him an annual on that one.
 
ettsn said:
Are these potential renters your buddies, or just some people you know? What I'm getting at is, are these guys that you otherwise know, trust and have been friends with? Or just some people you know tangentially that might be great stewards of your plane, or might beat the snot out of it literally like a rented mule?
Click to expand...

They are not buddies, but people I know and have flown with. I would not have a problem renting a plane for them, nor would I care if the plane gets a few extra scratches.
 
I would find a school I could trust and do a year long leaseback.
 
If it were me, I'd find one person who you trust.....and have them fly it once every two or four weeks for 30 minutes or so.

Phillips 20W50 and CamGuard in the oil....and it'll be ready to go when you return.

Anything more than that is going to potentially cost more in wear and tear (the rent won't cover that).
 
Last edited:
Covered T hanger at my local place in TX is $95/month. I'll take care of it, feed it, water it(wash), drive it around a bit for a burger, change oil, and get it ready when you get home. It's a turf runway, so low tire wear.

I'm a vet, served in Korea in 86. I was in Unchon(not Inchon) up by the DMZ, served on a ROK army base. Also in Japan, and Germany.
 
mtuomi said:
They are not buddies, but people I know and have flown with. I would not have a problem renting a plane for them, nor would I care if the plane gets a few extra scratches.
Click to expand...

The question becomes who is going to oversee the maintenance and repairs while you are gone? Do you have one of the renters in mind to oversee the management?
 
Bail on the deal and get one when you return. Cessna 150's are not what one would call rare.
 
Henning said:
The question becomes who is going to oversee the maintenance and repairs while you are gone? Do you have one of the renters in mind to oversee the management?
Click to expand...

I've got a place sorted for maintenance if I end up renting. I travel over there once every few months anyway, so I would see the plane myself between every renter anyway.
 
steingar said:
Bail on the deal and get one when you return. Cessna 150's are not what one would call rare.
Click to expand...

Too late for that, I'll only bail if there's something wrong with the plane. My word is my bond, and the usual stuff...
 
please let us know how this works out....it could be a good learning experience some here. The C-150 was my first....
 

Attachments

  • first love.JPG
    first love.JPG
    36.7 KB · Views: 51
Last edited:
Checkout_my_Six said:
please let us know how this works out....it could be a good learning experience some here.
Click to expand...

I will, just don't hold your breath. If and IF the prebuy goes OK, I will write a check, and I'll see the plane when I get to the US in early July, so it will be about a month before I decide on anything.

I'm just fishing for pros and cons, so I have more opinions for which I can base my decision when the time comes.
 
Checkout_my_Six said:
please let us know how this works out....it could be a good learning experience some here. The C-150 was my first....
Click to expand...

You were an owner? What was your ownership experience like? Any sudden bankruptcy-inducing squawks? Tell me more about owning a C150 :)
 
mtuomi said:
You were an owner? What was your ownership experience like? Any sudden bankruptcy-inducing squawks? Tell me more about owning a C150 :)
Click to expand...
corrosion is killer for the airframe. Make sure it's clean. I'd walk if it were not.

the engine?....probably the starter clutch could be problematic, mine was.

Other than the normal stuff, cylinder work can be $1-2K each if needed, they are very basic and probably one of the cheapest to own and operate.
 
Seems best to wait a year and buy. You've never seen the plane, you don't need it, won't use it, and looking at how to "pay" for it?

What's really going on here?
 
rolivi said:
Seems best to wait a year and buy. You've never seen the plane, you don't need it, won't use it, and looking at how to "pay" for it?

What's really going on here?
Click to expand...

Exactly where did I say I was looking at how to pay for it?
I believe I said exactly the opposite.
 
Henning said:
This is my opinion as well. No need owning it now.
Click to expand...

This would indeed be the smart thing to do. I don't always make smart decisions.

Let's just call this a deal that on paper was too good to miss.
 
mtuomi said:
I will, just don't hold your breath. If and IF the prebuy goes OK, I will write a check, and I'll see the plane when I get to the US in early July, so it will be about a month before I decide on anything.

I'm just fishing for pros and cons, so I have more opinions for which I can base my decision when the time comes.
Click to expand...

The cons of buying now it out weight the pros, but if you made a deal and want to honor it, full respect. So, the main con to renting it is long distance maintenance. If you don't have that worked out, you need to store it, or put it on leaseback with a good operation (few and far between, but they do exist, there are still some decent people in the world.)

The plane will break down on one of the renters, it's inevitable, who is going to handle that? What you want to find is a CFI with an A&P and give it to him for a year, they're responsible for everything, for 20-25% of the revenue.
 
mtuomi said:
This would indeed be the smart thing to do. I don't always make smart decisions.

Let's just call this a deal that on paper was too good to miss.
Click to expand...
$15K or less would fit that bill. :D $18K or more....not so much. :nono:
 
Henning said:
The cons of buying now it out weight the pros, but if you made a deal and want to honor it, full respect. So, the main con to renting it is long distance maintenance. If you don't have that worked out, you need to store it, or put it on leaseback with a good operation (few and far between, but they do exist, there are still some decent people in the world.)

The plane will break down on one of the renters, it's inevitable, who is going to handle that? What you want to find is a CFI with an A&P and give it to him for a year, they're responsible for everything, for 20-25% of the revenue.
Click to expand...

This deal was one of those "oh if you want to sell I'd be interested"-things, and like I said, I value my word more than a C150, so if the plane is solid, I will buy it.
The CFI/A&P deal is a good idea, I'll look into it more. If you know anyone, let me know.
 
rolivi said:
Seems best to wait a year and buy. You've never seen the plane, you don't need it, won't use it, and looking at how to "pay" for it?

What's really going on here?
Click to expand...

He's deployed military and wants to have a plane when he gets home and has found, what may be, a good deal. When you work away from home more than you are home, you have to find creative ways to do what you want. I was working in Australia when a buddy called me about a 310 that was going to be for sale that I'd want to look at. I took some vacation to do the deal, I agreed to buy it 10 minutes after I walked into the hangar, the annual was done over the next few days and I took it for the first flight from Phoenix to Sparks and got to fly into the air races and drop it off at Aviation Classics, the avionics shop to get the panel done. After the races I went back to Aus and didn't see the plane again for four months. Took some vacation and put 50 hrs on it flying around the country. Parked it in a buddy's hangar and went back to work... Rinse and repeat. Being a global vagrant has some hassles involved, but typically you get paid well enough that solutions can be found.
 
Last edited:
mtuomi said:
This would indeed be the smart thing to do. I don't always make smart decisions.

Let's just call this a deal that on paper was too good to miss.
Click to expand...

Completely understood, probably better than anyone else here.:lol:;) My decisions aren't always prudent, and rarely are they to financial advantage, but **** I have fun.
 
mtuomi said:
This deal was one of those "oh if you want to sell I'd be interested"-things, and like I said, I value my word more than a C150, so if the plane is solid, I will buy it.
The CFI/A&P deal is a good idea, I'll look into it more. If you know anyone, let me know.
Click to expand...

As I said, 'full respect'. Hmmm... Where is the plane based now? I may have a guy in Ft Lauderdale, but I've TDYd myself to DC for a bit.
 
Henning said:
He's deployed military and wants to have a plane when he gets home and has found, what may be, a good deal. When you work away from home more than you are home, you have to find creative ways to do what you want. I was working in Australia when a buddy called me about a 310 that was going to be for sale that I'd want to look at. I took some vacation to do the deal, I agreed to buy it 10 minutes after I walked into the hangar, the annual was done over the next few days and I took it for the first flight from Phoenix to Sparks and got to fly into the air races and drop it off at Aviation Classics, the avionics shop to get the panel done. After the races I went back to Aus and didn't see the plane again for four months. Took some vacation and put 50 hrs on it flying around the country. Parked it in a buddy's hangar and went back to work... Rinse and repeat. Being a global vagrant has some hassles involved, but typically you get paid well enough that solutions can be found.
Click to expand...

I'm a consultant, not deployed military. I want to make this clear out of respect for the people who serve here. I'm here for selfish reasons. The people who serve here have a much more noble purpose for their stay...

I do share the same thoughts about working abroad though. For the past 5 years (and the next year), I'm going to clock around 200 days of travel averaging 30 countries a year. Sometimes you just need to plan things ahead, if for nothing else, to have something to look forward to.
 
Last edited:
You must log in or register to reply here.
Back
Top