REAL airplane ownership costs - Piper Malibu Mirage

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  • Опубліковано 24 гру 2024

КОМЕНТАРІ • 157

  • @sugershakify
    @sugershakify 10 днів тому +1

    This has been my experience with owning airplanes.
    1. If you can't afford to pay cash for 2 of whatever you are looking at then you can't afford to buy the 1
    2. 10-15% of purchase price the first year on misc shtuf making it your plane.
    3. 10-15% of purchase price per year to fly it
    4. Be ready for a $20k-$100k bill, depending on type, at any moment.

  • @malibujack4852
    @malibujack4852 2 роки тому +26

    I have a well-kept 1985 Malibu. I’ve owned it for 6 years now. I would say that your non-annual maintenance costs are about right (I average about $6k between annuals). In six years, I’ve never seen a $10K annual. My lowest was $20K. I do take it to a shop that specializes in PA-46s so that may be part of it. These aircraft tend to eat cylinders (mostly exhaust valve wear), so I think you will need to plan for that. Every part on these aircraft are priced to the new ones coming off the line, so they are extremely expensive (e.g., heated stall warning switch is $6K and you need it for FIKI certification. The heated windscreens don’t last that long and they are a $35K to $40K item installed, etc). Do I love my Malibu? Absolutely! For what they do, they are cheap, but they aren’t cheap if you understand what I’m saying. I fly about 250-300 hours per year to put these numbers into perspective. Maybe you can do yours for cheaper, but just wanted to provide some additional real world data.

    • @TaftLove
      @TaftLove  2 роки тому +2

      Nice! I hope I can do the same. Fingers crossed in a few months :-)

    • @RootBeerGMT
      @RootBeerGMT 5 місяців тому +1

      40k for a windshield?
      Fuck that.

    • @dontbanmebrodontbanme5403
      @dontbanmebrodontbanme5403 3 місяці тому

      @@RootBeerGMT
      Flying obviously isn't cheap, but if you've done it even one time, you get hooked. You can obviously start off with much cheaper planes and hopefully, your finances improve.

  • @mojogrip
    @mojogrip 2 роки тому +13

    Appreciate the detailed breakdown. That first year is a killer as most owners will find out. Insurance does get lower as you build more time. Mine dropped by 30% in year 2. Approaching renewal next month so fingers crossed.

    • @TaftLove
      @TaftLove  2 роки тому

      Oh man, that'll be great if I can save that much in Year 2!
      What do you own? I watch a lot of your videos, but they're usually looking at other people's planes.

    • @mojogrip
      @mojogrip 2 роки тому +3

      @@TaftLove I fly a Sling TSi. Yr 1 was $7600. Yr 2, $5500

    • @TaftLove
      @TaftLove  2 роки тому

      @@mojogrip Amazing - those look like a lot of fun. Thanks for the info.

  • @stormshadow_6477
    @stormshadow_6477 Рік тому +3

    Quite the eye-opener. Really interesting to hear a clear answer to a very specific question

    • @TaftLove
      @TaftLove  7 місяців тому +1

      Awesome, I hope it was helpful!

  • @TM-tw1py
    @TM-tw1py Рік тому +2

    Great analysis and great video presentation. One nitpick - I think more valid analysis of overhaul is $100K/1800 (estimated tbo) - $55 hourly, as this brings your plane back to its hours on the engine currently in place. (You wont need the next (second) overhaul in 800 hours, but it will be 2,000 hours (I'm adjusting to 1,800 hour tbo). Hope you keep producing awesome videos!

    • @TaftLove
      @TaftLove  7 місяців тому +1

      This is a good call out. Thanks for the note!

  • @dimsler2
    @dimsler2 2 роки тому +4

    I'll shed some light onto this topic a little. Purchase prices makes complete sense, absolutely, if it's clean. Hangar, I'd say a quality hangar, big enough to fit the Malibu wing span, and safe enough to actually use is about $1200 a month average. Insurance actually a bargain, 18k for a 550k hull value with 300yr inexperienced pilot? Amazing price, it's roughly 12kna year on average, ATPL rated, similar hull value. Annuals, 10-20k a year min. 250hrs a year flight time? damn, I wish I had the free time. Avg about 100hrs in it. Random repairs and avionics upgrades, interior upgrade, washing, detailing, id say on the 100hrs avg, around $700 an hour. I recommend joining the Malibu Pilots Association. Avg cost runs from 700 low end to 1000, depending on what stage of life the plane is in. Also remember high chance it'll need a top end overall mid life, or closer to end of life. Bottom should be happy for like 3k hours on condition if flown well.

    • @TaftLove
      @TaftLove  2 роки тому

      Thanks for the additional info John!

  • @mentises
    @mentises 4 місяці тому

    Great video mate! How about doing an updated one after 2 years? I would love to see what changed

  • @Karl__Pierre
    @Karl__Pierre 2 роки тому +2

    This was certainly helpful. Currently considering the Malibu as my next aircraft I feel storage will be a pain on my neck of the woods. SE FL

    • @TaftLove
      @TaftLove  2 роки тому

      Yes sir - it’s a pain for me too. Long drive out to the airport where I have a hangar, so I mostly leave it short term parked at a closet airport for 4x the cost.
      I hope you choose the Malibu. It’s a lot of fun to fly and definitely capable as a family/XC hauler.

  • @lee.schulz
    @lee.schulz 2 роки тому +4

    Great video! I've been considering upgrading to a Malibu & you've given me great data points.

    • @TaftLove
      @TaftLove  2 роки тому +2

      Glad I could help!

  • @tjhicks5574
    @tjhicks5574 2 роки тому +1

    Thank you for taking the time to share real data and personal experience; both a super valuable for those of us considering a similar endeavor.

    • @TaftLove
      @TaftLove  2 роки тому

      My pleasure! Glad you found it helpful. If you go down this path, good luck!

  • @randyf661
    @randyf661 2 роки тому +1

    Great video and I get to enjoy seeing how Austin Exec has grown from the old barn at Birds Nest Airport where I used to park my Cherokee back in the 1990's and living in Pflugerville.

    • @TaftLove
      @TaftLove  2 роки тому

      Thanks! I have only been in Austin a couple years so I didn’t get to see that airport, but I can imagine it’s totally different now. Do you still fly around here?

    • @randyf661
      @randyf661 2 роки тому

      @@TaftLove Sadly no we moved away from Austin a little over 4 years ago. As for birds nest it looks like the barn is still there. On google maps take a look just south of the segmented circle is where the old runway is located and the barn is next the pond. Funny story back in the day...the landowner on gregg lane had a beef with the owner of birds nest so he kept greg lane which was a dirt road back then and kept it so rutted i almost couldnt get to my airplane after a heavy rain...had to finally give up after a couple years and pay the high tie down fees at the old robert mueller airport...good times. I really appreciate the shared experience on the malibu as that is the airframe of choice for me if and a big if once my bitcoins hit another all time in a couple of years. Otherwise call me a small cessna driver until then. Cheers!

  • @MrKlassmass
    @MrKlassmass 2 роки тому +9

    What about prop life? Pressurized, retractable, 6 seater and $6k/year? I hope I'm wrong, but that seems really low.

    • @TaftLove
      @TaftLove  2 роки тому +1

      Good question. I’m sure there are some things I’ve left out that will come up.
      My hope is that the $16k per year for annual and miscellaneous maintenance will cover most other stuff, but you may be right about it being too low!
      While I did the breakdown by hour, that’s not really how I think about it day to day. I tend to pay for things as they come up without much of an eye toward budgeting. I mostly pay attention to the regular recurring things like fuel, oil changes, Etc.

  • @FosterBrooks6
    @FosterBrooks6 2 роки тому +3

    Good general cost of ownership (maintenance, operating, and storage) costs. The “economists” critique of not including acquisition cost may have validity, but if we were to really include all true (opportunity) costs, we probably would own our own airplanes. It is difficult if not impossible to quantify the value of convenience, and pleasure derived from aircraft ownership and operation.

    • @TaftLove
      @TaftLove  2 роки тому

      Thanks Robert! I agree - you could always make it more complex. I'm afraid I'm not quite smart enough to use this as a jumping off point for an economics course :-).

  • @eco-beehive
    @eco-beehive 2 роки тому +2

    Thanks that’s exactly it. Each plane frame and engine. Lightbulb moment.

    • @TaftLove
      @TaftLove  2 роки тому +1

      You bet! Glad it was helpful.

  • @Kevin-xi6ts
    @Kevin-xi6ts 2 роки тому +5

    I have a 1995 Malibu Mirage. I don’t have insurance and I’m about 600 hours past TBO. I live on a farm so I keep it in a barn and I use the long driveway as my airport. My hourly costs are very reasonable.

    • @PatrickMichalina
      @PatrickMichalina Рік тому

      Love this!

    • @Mike4444x
      @Mike4444x Рік тому +1

      Pablo Escobar had a Malibu Mirage. He actually made a profit from every flight…..🧐

    • @Kevin-xi6ts
      @Kevin-xi6ts Рік тому

      @@Mike4444x Pablo was a good friend of mine. I miss him.

    • @davidnee6157
      @davidnee6157 3 дні тому

      @Kevin-xi6ts
      So I take it, not have insurance, You really don't give a shit if you crash and burn into a mall, apartment complex or a high school!
      Your thinking is "I'll be dead, sue me?"

    • @Kevin-xi6ts
      @Kevin-xi6ts 3 дні тому

      @@davidnee6157 that pretty much sums it up.

  • @rafalwyszkowski70
    @rafalwyszkowski70 2 роки тому +3

    The aircraft looks great with updated Avionics. Hopefully you have Garmin AP to help with a workload.

    • @TaftLove
      @TaftLove  2 роки тому +1

      Thanks! Unfortunately the AP isn’t a GFC600. It’s a KFC150, which works fine but doesn’t hold a candle to some modern autopilots.
      My goal is to upgrade to the GFC600 in the next year or so.

  • @stuartcrutchfield8880
    @stuartcrutchfield8880 8 місяців тому +1

    Excellent video. I really appreciate your thoughtful analysis.

    • @TaftLove
      @TaftLove  7 місяців тому

      Awesome - I hope it was helpful!

  • @brianbrickley8229
    @brianbrickley8229 6 місяців тому +1

    Great video. Ouch I guess I'll keep the Cherokee six a little longer!

  • @wademant7848
    @wademant7848 2 роки тому +1

    Excellent breakdown, thanks for taking the time to make and share it. so year 2 onward you expect ~350/hr @250hrs/yr including reserves. Not bad, I pay more than that rating an SR22.

    • @TaftLove
      @TaftLove  2 роки тому

      Thanks Wade! I think it’s entirely possible that it will fluctuate significantly and be much more expensive some years. Fingers crossed for it not going too high.

  • @Jonay1990
    @Jonay1990 11 місяців тому +1

    its been a year now - how did your estimates hold up so far? A updated video would be great.

    • @TaftLove
      @TaftLove  7 місяців тому

      My estimate held up pretty well. Unfortunately, I ended up selling it and downsizing because we weren’t using it enough to justify the fixed costs.
      It’s hard to say whether the estimate would have held up well over multiple years. There are big swings that can happen with such expensive parts.
      I’ll do another update in the next few months with my new plane - an RV-7a.

  • @tgiflight
    @tgiflight 2 роки тому +1

    How tall is the guy sitting right seat, at the 7 minute mark. Im 6ft8, flying a cirrus and wondered if this airplane is tall friendly..

    • @TaftLove
      @TaftLove  2 роки тому +1

      I think you’re taking about my friend Chris. He’s 6ft7 and about 260lb. He’s a tight fit. He was more comfortable in my old Cirrus and his Comanche.

    • @TaftLove
      @TaftLove  2 роки тому +1

      Here you go! ua-cam.com/video/0pw-KdvccmU/v-deo.html

  • @Gatosobreruedas
    @Gatosobreruedas 2 місяці тому

    Gracias por la información tan valiosa y útil.
    Me da referencias para la búsqueda y comparaciones que estoy realizando.
    Saludos desde Argentina 🤙🏻

  • @scottmoseley5122
    @scottmoseley5122 2 роки тому +3

    Gulp. thanks for the breakdown. excellent video! So I know its personal, but I'd like to know if its WORTH IT ? especially considering you have to drive an hour to reach the airport. just subscribed.

    • @TaftLove
      @TaftLove  2 роки тому +1

      Good question. I’m actually parking closer to home and paying a bit extra at the moment. Once I’m flying less, I’ll start parking an hour away, unless I can land a hangar closer to home.
      Yes, it’s been worth it to me for sure. We’ll see how I feel a couple years in the future :-)

  • @texasov
    @texasov 2 роки тому +2

    Great video!
    But it takes you an hour to get to Austin Exec?! What part of Austin are you in? Are you avoiding the tollway? 🙂

    • @TaftLove
      @TaftLove  2 роки тому

      Good catch! It’s only 25 min to Executive from my house. My hangar is in Giddings, but I have been parking at EDC got a month or so for training and lots of flying.

  • @tim7w
    @tim7w 2 роки тому +1

    What model and year cirrus did you fly previously. What made you transition from a cirrus to piper and what other types where in your top three before buying the piper

    • @TaftLove
      @TaftLove  2 роки тому +1

      Great questions! I made a video on exactly this topic: ua-cam.com/video/v7eUgrhS19o/v-deo.html

    • @tim7w
      @tim7w 2 роки тому

      @@TaftLove great watching now

  • @davidspeyers
    @davidspeyers 2 роки тому

    Thanks for the transparency. Perhaps the most amazing thing is your wife signed off on it all, you are a blessed man.
    As an IA, I recommend my customers to overhaul their engines based on condition, not TBO. You may be able to get more than 2000hrs

    • @TaftLove
      @TaftLove  2 роки тому

      I have to agree with you there! Lucky to have someone who lets me make huge, expensive mistakes without too much complaining :-).

    • @TheReadBaron91
      @TheReadBaron91 2 роки тому

      Same here. If it’s over TBO per manufacturer recommendations I always have the owner sign off on declining TBO, but don’t label it as “airworthy” on the discrepancy list

  • @mayyasegura6219
    @mayyasegura6219 2 місяці тому

    So if you fly to another place for 3 days, do you pay additionally for plane “parking”?

  • @vincen32
    @vincen32 2 роки тому

    I've heard from A&P mechanics that if the plane is well kept and maintained in non-humid environments, you could probably fly waaay past TBO. It's really nice that you calculated within the manufacturer's recommended though, a good safety buffer for the wallet for sure! Great video!

    • @TaftLove
      @TaftLove  2 роки тому +2

      Thanks Vince! Yeah, I'm hopeful that I'll go beyond 2,000 hours - fingers crossed!

  • @dimmacommunication
    @dimmacommunication 6 місяців тому

    How expensive is a TBO on the piper 500 ?

  • @coderider3022
    @coderider3022 11 місяців тому +1

    Ouch ! Thanks for info. I use swags too ( scrum / agile )

  • @luisbarros1371
    @luisbarros1371 2 роки тому

    I fly N464LB it is a 1993 Mirage. Your costs are very accurate, location would very, for instance, I live in Europe and here everything is basically more expensive. Just two comments, make sure you understand your annual maintenance costs, they can go up very easily if there are items you need to do due to aircraft age. I also add a paint job some years ago, not only it does look better but it took good care of the metal frame. Fly safe.

    • @TaftLove
      @TaftLove  2 роки тому

      Sounds like we have similar airplanes! Thanks for the feedback. If I ever get to fly to Europe, I'll keep an ear open for you :-).

  • @ryanwilson8721
    @ryanwilson8721 2 роки тому +1

    Thanks for the breakdown.

    • @TaftLove
      @TaftLove  2 роки тому

      Glad it was helpful!

  • @cpy
    @cpy 2 роки тому +1

    Pretty sobering numbers, thanks for sharing.

    • @TaftLove
      @TaftLove  2 роки тому +4

      My pleasure! For what it's worth, this isn't how I generally think about costs. Instead, I set aside money every year for the engine and just worry about short term costs like fuel when I fly. It doesn't *feel* as expensive that way :-)

  • @markseifried3959
    @markseifried3959 2 роки тому +1

    Thanks and good job.

    • @TaftLove
      @TaftLove  2 роки тому

      My pleasure. Thanks for watching!

  • @BeRaaad
    @BeRaaad 2 роки тому +1

    Do you have any idea for what kind of break on insurance you are expecting? Have you talked to other pilots in a similar situation on year 2 insurance costs?

    • @TaftLove
      @TaftLove  2 роки тому

      Good question. I'm not sure yet. I hear lots of different opinions here, but it sounds like I should expect a 20-50% break. If I had to guess, I'd say I'll expect to pay $12-14k next year.

  • @kurtmagnus4091
    @kurtmagnus4091 Рік тому +1

    Curious why opportunity cost of capital isn't included. If your plane costs $535K and you can make for example 10% on that in the S+P 500 (historically) then add another $53,500 in cost per year of ownership. Is that part of the math ever?

    • @TaftLove
      @TaftLove  Рік тому +1

      It’s a good thought. It wasn’t a consideration for me, but certainly could be.
      A few people have pointed out other things to consider, but I’m learning that you have to draw a line somewhere and I tend to aim for more simple models for this sort of thing.

    • @rickdc3
      @rickdc3 Рік тому +2

      That could be part of the math with paying cash vs financing. But you either decide to buy nice things and live a little, or live like a pauper so you can maximize the amount of money you invest in the market/real estate/etc. I just spent over 7 figures on an Eclipse jet. Did we need it? No, but we hate flying commercial, and my wife and I are creating great memories and having fun flying in the cockpit together.

    • @TaftLove
      @TaftLove  Рік тому

      @@rickdc3 great explanation. I agree.

  • @Rookblunder
    @Rookblunder Рік тому +1

    I'm assuming these are personnel costs just to fly the plane. However, would this be your calcuations to consider the costs for a client. Profit ? etc... I'm not a pilot so my question is this. Do people spend this much just to fly for personnel satisfaction or do most people do this with intention of getting a clientele in order to pay the plane off. MSFS and Navigraph is now not so expensive afterall :)

    • @TaftLove
      @TaftLove  7 місяців тому

      Hi, I think Microsoft is the smart play.
      This is purely my personal cost. I don’t have experience in charters, but the numbers I see generally are 3-5X my cost for private flights and a similar aircraft.

  • @Backtoflying
    @Backtoflying Рік тому +1

    Thanks!

  • @DoctorGustin
    @DoctorGustin 2 роки тому

    Appreciate the transparency! Love this plane!

    • @TaftLove
      @TaftLove  2 роки тому

      It's my pleasure. Thanks for checking out the video!

  • @midwestpilot6079
    @midwestpilot6079 2 роки тому

    Really good detail and transparency. Are you able to fly LOP? That may give you a better shot at TBO? I've heard the Lyc is not as happy as the IO550 LOP.

    • @TaftLove
      @TaftLove  2 роки тому

      Thanks! I've never flown LOP, but it is possible. It feels like the window for healthy leaning is more narrow than it was in the Cirrus (Continental). Another big difference is the fact that I don't have the lean assist that I had in the Cirrus with digital temperatures and peak tracking (not to say it's impossible without those - just helped me be more confident in my leaning, when combined with common sense).

  • @preventbreach3388
    @preventbreach3388 2 роки тому +1

    I'm considering buying one and selling my PA32R. What insurance company did you use? I'm in the same situation than you. No pressurized, but complex, 200h...

    • @TaftLove
      @TaftLove  2 роки тому

      I worked with Travers Aviation. Look for a lady named Anna Rice - she's amazing to work with.

  • @IlIlIlIlIlIlIlIl-v9h
    @IlIlIlIlIlIlIlIl-v9h Рік тому +1

    dang that's expensive for hangars. SoCal hangars are about 250-300

    • @TaftLove
      @TaftLove  7 місяців тому

      This is the absolute cheapest I could find. It’s a ~70 min drive. The airport close to me is $1,800 per month for a Malibu hangar.

  • @blakebrothers
    @blakebrothers 2 роки тому

    Great information, many thanks!

    • @TaftLove
      @TaftLove  2 роки тому

      Glad it was helpful!

  • @tkfounder
    @tkfounder Рік тому +1

    What was your your year 2 insurance.

    • @TaftLove
      @TaftLove  7 місяців тому

      The quote I got was 13,000. I didn’t end up renewing because I downsized my plane.

  • @btbowden1234
    @btbowden1234 11 місяців тому +1

    if the plane is paid for are you required to have insurance?

    • @TaftLove
      @TaftLove  7 місяців тому +1

      No, you can fly without insurance. Most people usually at least carry liability insurance though.

  • @FlyingNDriving
    @FlyingNDriving Рік тому

    Any update on insurance?

  • @AluminumOxide
    @AluminumOxide 9 місяців тому +2

    Kinda sums up that you need to be a millionaire to run one of these planes to stay comfortable

    • @TaftLove
      @TaftLove  7 місяців тому +2

      Yeah, while I’m not a millionaire (yet), I would have to be to buy anything bigger. I’ve scaled it back to an RV because it’s way too expensive if it doesn’t quite fit our mission.

  • @CoryArmer
    @CoryArmer 2 роки тому

    That's an eye opening breakdown. Thanks for sharing! Congrats on the new plane btw.

    • @TaftLove
      @TaftLove  2 роки тому +1

      Thanks Cory! We'll have to find some time to go up soon.

    • @CoryArmer
      @CoryArmer 2 роки тому

      @@TaftLove That would be exciting. Other than commercial, I've only flown in Piper Archers and a Cirrus once. :)

  • @california94538
    @california94538 Рік тому +1

    Sr-22 or M350?

    • @TaftLove
      @TaftLove  Рік тому

      This one is the Mirage (pre M350). Two different missions entirely so hard to compare. I like flying the SR22 on short hops but the Mirage is really nice for long trips. Getting up high without needing 02 is pretty great.

  • @flyingdaytrader
    @flyingdaytrader 2 роки тому

    Random question? I currently fly a B36TC but have been looking at Malibu mirage for a while to upgrade to but I've never flown in one to be sure. I'm in Fort Worth, would you be interested in letting me fly with you? Just want to verify that this is the plane I want. Fits my mission for my family perfectly. I bought my B36TC with a plane partner without flying in it first except when we were going for the prebuy inspection and he already had his heart set on it and I gotta say I'm not that big of a fan of it. I trained in a Piper archer, flew a Cirrus for my IFR training and have flown in a few other airplanes including multiple piper types and for some reason Piper aircraft just speak to me (though I do love cirrus too). Can't figure it out but I just feel more comfortable in a Piper. Anyways would love to fly with you one of these days just to verify that I actually want to fly in one in the future. I'm a 300 hour pilot as well.

    • @TaftLove
      @TaftLove  2 роки тому

      I'd be happy to give you a tour and take you up next time I'm up near DFW. Not sure if there's a private message option on here...

  • @visarma9673
    @visarma9673 Рік тому +2

    I have an Aerostar. I figure it’s $650 an hour hard costs including fuel, to fly her for 100 flight hours, minimum a year (w/o TBO costs for 2-350hp turbocharged engines)…. Or, $42,200.00 for one flight hour for the same year…. Not including anything for the price of the airplane 😫…. I should sell her and start golfing more… 😳

    • @TaftLove
      @TaftLove  Рік тому +1

      Oh man that’s a big swing if you don’t fly enough.
      I’ve heard those can be a tough to fly but they’re beautiful. Do you like it?

    • @visarma9673
      @visarma9673 Рік тому

      @@TaftLove love it.. fast as heck and you do need to keep ahead of her…. She can bite.

    • @visarma9673
      @visarma9673 Рік тому +1

      @@TaftLove just for the heck of it? Chance out what a non-pressurized and 25% less powerful engines is capable of…. Wings are rated for 13 G’s and the tail section can handler 15 G’s. (Now, why? I have zero idea). ENJOY…. ua-cam.com/video/DEATyzoLG2Q/v-deo.html&feature=shares

    • @visarma9673
      @visarma9673 Рік тому

      Just for the heck of it? Chance out what a non-pressurized and 25% less powerful engines is capable of…. Wings are rated for 13 G’s and the tail section can handler 15 G’s. (Now, why? I have zero idea). ENJOY…. ua-cam.com/video/DEATyzoLG2Q/v-deo.html&feature=shares

    • @TaftLove
      @TaftLove  Рік тому

      @@visarma9673 That's pretty sweet!

  • @renardinosrenard9581
    @renardinosrenard9581 Рік тому

    Thank you so much

  • @jeffr6280
    @jeffr6280 3 місяці тому

    How much does an airplane cost to own and operate? As much as you have, and allot that you don't.

  • @464RJ
    @464RJ 2 роки тому

    How do you like your Malibu? Do you recommend it? Thx

    • @TaftLove
      @TaftLove  2 роки тому +1

      Personally, I love it! I recommend it for anyone with my mission - carrying family on mid-range trips. It wouldn't be a great fit if it's for VFR flights to local fly-ins and $100 burgers, though.

  • @kyleflowers2641
    @kyleflowers2641 Рік тому +1

    You have a spot at austin executive for $350/mo?!

    • @TaftLove
      @TaftLove  7 місяців тому +1

      No way. I got a spot at Giddings for that.

  • @jonathanmcphail5254
    @jonathanmcphail5254 2 роки тому

    Great content! It would be great to find this type of into on a lot more aircraft. I love the Mirage and would consider it a perfect upgrade to Bonanza N923T. After watching, I still think it’s a great option… with 2-3 partners. 😁

    • @TaftLove
      @TaftLove  2 роки тому

      Thanks - glad you liked it! Should have done something similar with the SR22. May have to dig back through the logs and see if I can put the same thing together.

  • @mjlewis4
    @mjlewis4 2 роки тому +1

    Very good breakdown Mr. Love! If anyone needs any help with buying/selling, I'm VERY prevalent in the PA46 market!

    • @TaftLove
      @TaftLove  2 роки тому +1

      Awesome! Not sure if I can pin this pots, but I know from experience that having someone knowledgeable is a big deal when you're buying an aircraft.

  • @djwashx
    @djwashx 2 роки тому +1

    Great!!!!!!

    • @TaftLove
      @TaftLove  2 роки тому

      Thanks so much for watching!

  • @19ij
    @19ij 2 роки тому +1

    Are you an IFR pilot?

    • @TaftLove
      @TaftLove  2 роки тому +1

      Yep! Got my IFR ticket a year ago.

    • @19ij
      @19ij 2 роки тому +1

      @@TaftLove IFR is my goal for next year.

    • @TaftLove
      @TaftLove  2 роки тому

      @@19ij that’s a good goal. Definitely doable!

  • @markseifried3959
    @markseifried3959 2 роки тому

    So that's less than $1.50 a mile in your second year if you fly 250 hours. I remember years ago my Piper Lance was about 75 Cents a mile.

    • @TaftLove
      @TaftLove  2 роки тому

      Oof - that's a big difference. Curious what a Lance would cost today...

  • @IlIlIlIlIlIlIlIl-v9h
    @IlIlIlIlIlIlIlIl-v9h Рік тому +1

    you're overpaying for an annual. That's ridiculous! Maybe the first annual but if it's regularly maintained by the same A&P it shouldn't be that much. Bring it so Mountain View Aviation at REI outside of LA. He's done some Malibus before

    • @sleektruck22
      @sleektruck22 6 місяців тому

      No he's not. This is an extremely complex airplane with extremely expensive parts. This isn't a 172

  • @Dragonrc.
    @Dragonrc. 2 роки тому +1

    This video makes me sad, I should have stay in the military and fly. I cannot afford GA with something that fits my mission. ughh good video

    • @TaftLove
      @TaftLove  2 роки тому

      Funny, I think all the time that I should have gone the military route to fly instead of being a cop early in my career :-).

    • @Dragonrc.
      @Dragonrc. 2 роки тому

      @@TaftLove doesn’t pay the best obviously but I did it to serve and now that I’m out and not being able to fly I’m really starting to regret retiring. Your plane is what I would love to own or a Cessna 340 but man the prices now compared to just a few years ago. Wow

    • @OurSchadenfreude
      @OurSchadenfreude Рік тому

      How do u afford this cost being a cop. It's insane how much these cost up front. Thought such planes would be 100k but half mil is insane price.

  • @Parr4theCourse
    @Parr4theCourse 2 роки тому

    Nice breakdown…..

  • @kwittnebel
    @kwittnebel 3 місяці тому

    No way you will spend more on insurance than on annuals over time. Just not happening. At least not for any annual you would want to fly your family on.

  • @willthompson83
    @willthompson83 2 роки тому

    Ballpark what are you making a year?

    • @TaftLove
      @TaftLove  2 роки тому +1

      I’m an employee and a business owner (side gig, but one where I’ve been fortunate) so it fluctuates pretty significantly.
      My company pays for a lot of the flying expenses, so I don’t make enough to pay these costs without that.
      I can say it’s a good bit more than I made in my 20’s as a small town coo in Nc :-).

    • @willthompson83
      @willthompson83 2 роки тому

      @@TaftLove Nice!!! Thanks for that it really gives me prospective I make roughly a bit over $100k and I would love to owe a Malibu but I'm just not sure how much sacrificing will need to be done lol.

  • @FosterBrooks6
    @FosterBrooks6 2 роки тому

    Amendment to my last comment : intended to say “we probably would NOT own our own airplanes

  • @SimonAmazingClarke
    @SimonAmazingClarke 2 роки тому +1

    So if you put $500 per flying hour into you aircraft account, you should be ok, ish.

    • @TaftLove
      @TaftLove  2 роки тому

      Yeah I think that's probably about right!

  • @rsowder
    @rsowder 2 роки тому

    I can't even afford the fuel cost per hour, LOL

    • @TaftLove
      @TaftLove  2 роки тому

      I get it! I spent my first 10 years after dropping out of college saving for months just to do a 1 hour flight lesson. Hopefully you'll also be fortunate (financially) and get there soon!

  • @GT47179
    @GT47179 Рік тому

    The real cost is everything you have 😊

  • @robertweekley5926
    @robertweekley5926 2 роки тому +1

    So, you "Skipped" purchase costs? Well, unless someone "Gifted" you that plane, that was an Error!
    It IS a part of the "Fixed Cost Calculation" even if it is "Hard" to choose How you will do it! If you paid "Cash", the money you used to buy it, is no longer available for other activities, or Investments, so, there is an associated "Opportunity Cost" there, at least! Of course, it is "Easier" to identify the Purchase Cost portion, if it is Financed, or Leased with a Buyout option at the end.
    Plus, operating costs go up with greater use, but per hour fixed costs go down with greater use. There is no "Simple" formula, but it's kinda like the ratio of Interest versus Principle, on a Note or a Mortgage.
    Or, you could say, there is a certain point, like the flight equivalent of "Lowest Energy Consumption" such that either side of that point, requires more energy, as to per hour use costs, going from 10 hours per year, to 20 hours per year, might be a greater difference, than going from 100 hours per year to 200!

    • @FosterBrooks6
      @FosterBrooks6 2 роки тому +1

      He’s looking at ownership cost, not acquisition cost.

    • @Rich-ey7jv
      @Rich-ey7jv 2 роки тому

      This is a good point. If you would put 540,000$ into a nothing special Vanguard account, you would have made 240,000$ after five years. If you invested 60,000$ a year into same account you'd make another 70,000$ or so. After 10 years this is well over 1,000,000$ of profit.

  • @LiveMoreDoLife
    @LiveMoreDoLife 2 роки тому +1

    Hit me up if you're ever in Waco, TX (ACT)! I'd love to buy you lunch or coffee and pick your brain. I am looking into getting my private pilot's license.

    • @TaftLove
      @TaftLove  2 роки тому

      Heck yeah. I’ll let you know next time I get up that way. Happy to take you up!

    • @LiveMoreDoLife
      @LiveMoreDoLife 2 роки тому

      @@TaftLove I didn't see your contact info on your YT about page. Shoot me a DM through IG. The link is on my YT about page.

  • @bruceerwin5430
    @bruceerwin5430 4 місяці тому

    Still cheaper than a divorce…

  • @JOHNVILLAGRANA-g6d
    @JOHNVILLAGRANA-g6d Рік тому

    Guy doesn’t make sense

  • @davidnee6157
    @davidnee6157 3 дні тому

    And this is why the Avg Joe Dreamer can NEVER accomplish their dream!