Good deal then.
I am still dubious, bear with me.
Let's say you put say 20K parts and out of pocket expenses into the Fairchild. (Adjust as necessary.) That leaves 30K profit, if you value your labor at $0.
I daresay you should be able to make 100K with your level of competence and expertise as a freelance A+P.
So, if you took 120 8-hour days (~1/3 year) to refurbish the airplane, your profit goes to zero.
What'd I miss?
You missed the fact I do this as a hobby, evenings and weekend as time permits, that turns my idle time into money. I bought the 24 as a project from a guy who knew I'd get it restored some day. It was a flying project, when I bought it, pristine 24s at that time were selling for 80-100K, I bought this one for 40K, I've spent from the time I took it apart in 2001 to 2009 to restore it, I flew 40+ hours summer 2009, and it lost oil pressure on the down wind to OKH 07 out over the water, I shut it off to keep it from failing and beating its self apart. and now have the Warner apart and replacing the oil feed bushing, two mag drive gears and bushings plus polishing the crank, and fitting it with a new master rod bearing, .(0005 under) plus cleaning the sludge traps and curing some oil leaks,
Its a fun old aircraft, and draws a crowd where ever it goes, It flys great, carries me and Barb OK, but not much more.
It will climb at 800' per minute, with 2 aboard and 60 gallons of fuel. and cruise at 90k, at 1750 Turns burning 8-9 gal per hour.
you can see the vids on U-tube, (fairchild flyer )
cost to restore any aircraft went thru the roof during 2000-2009 time period I have 40k buy, and another 40K in materials in this one, Cessnas and other tin and rivet aircraft do not require the expensive materials that a rag and tube aircraft does. MY cost for recover materials alone were 6k, price S2S spruce, and the other supplies like stitching tape, ceconite. etc, you'll understand where the 40k went
But who else do you know that is a head in $ for their hobby?
