put all your money in stocks as aggressively as you can, live like a student, earn well. stocks like AMD and Enphase which is what I'm holding right now, pretty soon the stock growth outweighs your income and keeps growing exponentially and suddenly little things like jets are affordable :) another way to get rich but is more demanding is buying real estate and renting it out. The renters pay the mortgages which accumulates equity for you. I got a decent paying job about 4½ years ago, put most in stocks and now it's about double my salary. A year or two from now I can retire and live in luxury at the same time :) Odd but real. I had Tesla stock for te couple of years where nothing happened, only pain and chaos so I switched to AMD which went well but had I stuck with Tesla I would have 2-3million $ today :) no one saw that coming but still a very sobering thought. And the thing about stocks (if you are sensible) is that 2-3million is not a total winnings but a ticket to earn millions every single year. The base sum is all important because it's percentage gains. It might not last forever, the stock market has become incredibly mainstream lately and that can't last but I intend to not miss whatever opportunity is there. Money isn't everything but it certainly makes some things possible.
Saw a video of a guy who owned a Citation Jet. Similar in size and price to the Mustang and he quoted around 1500/hr for operating cost. that included hanger, fuel and engine reserve. He flew about 150-200 hours a year ($225,000/yr based on 150 hours/yr). since fuel is a large expense, not using the aircraft as much would bring that cost down, But he Cessna engine program has an hourly cost that you pay to Cessna for when the engines do need an overhaul, you've already paid the cost or most of it. You pay the engine fees for 150 flight hours per year whether you fly that much or not, so it makes sense to get a least 100hr per year out of it to justify having to pay that. So extrapolating that out you can probably run that jet for between 300-600k per year depending on unforeseen maintenance cost. But a well maintained and serviced aircraft should be able to be operated for well under 500k/yr. I don't think most owners would buy a jet that cost them the purchase price per year even if they didn't use it.
I wish the Beechcraft Beechjet 400a had been included on the list, it's a great airplane that still looks recent even though production started in the 90s. I've seen them going for $280,000-$600,000 for slightly older ones but with TTAF under like 2,000 hours so not bad, they're reasonably fuel efficient too
When you realize buying a jet is cheaper than going to college and it’s likely you’ll make more flying in the private sector than being a Harvard English teacher.
@yabadoo - I think that @non yobusiness - was trying to convey the fact that (you rightly labeled them 'professors') instructors at Harvard are now nothing more than apparatchik. They are indoctrinators. At least that was my take.
CreekyGuy I’m sorry bro but nah. This bros points are stupid. Unless you are attending a rich white under achieving private university you are only looking at 100k in debt. You ain’t buying a jet for that. Commercial jet pilots for large jets have always made a lot 150,000-200000 depending on the company. It usually that’s going to pilot school and years of working at poverty level wages to get there. The dude made no point, obviously doesn’t understand the real world and is stupid. Your indoctrination mess you pulled that out of your ass. Grow up learn logic.
Well the problem is - 950k sounds cheap. But the running costs are still extraordinary. I flew Citation 1 and 2 as well as Do228. In case you fly yourself and hold a rating which costs about 100- 200k (depending on where you do it), you still have to consider the maintenance and service costs. Average one can say it costs $2500- 5000 on maintenance or regular wear and tear- a month! All money which has not been used is saved for major replacements which will come sooner or later. Such as instrumentation, or avionic units, or parts of the propulsion system - maybe even a whole new engine if youve got a bird strike and stuff. On top of that you have scheduled inspection and replacement cycles which Id place at about $500-1000 a month (of course depends on how much you fly and how much you do by yourself, because a pilot can do the test cycles too). A hanger at maintenance services at smaller airport costs about $200 a day, but if you do your service at another place than your base, you have to consider ferry costs- cause you gonna be there quite often. Small airfields with hard surface runway but without instrument approaches offer hangar sharing for less, but its still at $1000- 1500 a month minimum- and others may have to tow your jet around. Additionally, you have to take ground service fees into acount when you are parking it at your destination - which is for a citation 1 or 2 about $300 a day (And that is just marshaller, parking and if you are lucky transpo to the GAT, in some places a pushback is included). And then you have your fuel consumption, which is a little higher in a Jet or Turboprop. Citation 1 took about 400- 600lbs an hour at optimum altitude. Depending on the location you use your jet, it can be about $500 to $2000 an hour of fuel. Filling a CJ up was always about $6000, some locations in Europe about $10000. Giving you a flighttime of somewhat between 5 and 6 h at 230ish KIAS which is a travel distance of good 1300-1500 NM. To add it up: Using the Citation 1 as we did, was around €5000/h, and the Do228 about €7500/h all inclusive. Even on a budget jet, 10 million is mostly gone within 10 years of flying only 2h a week. ;)
Excellent write up! You forgot to be safe with an aircraft that covers 8 plus miles a minute and can go if pushed to 50grand in altitude, was training. And not from someone who flew one 2 yrs ago.!
I fly a Lear 60. Pretty competent plane. 4.5 hour range with 7 passengers. You can buy a mid serial number version for 1.3 million. It costs us about 700K a year to operate for 250 hours. That's fuel, crew salary, maintenance, training, hangar, insurance.
The LearJet 24 it's true it has performance and speed, but unfortunatly lots of noise too. This is much older technology with pure jets, no bypass, and lots, lots of kero burning. Built before the first oil crisis. Many airports and environments where it cannot comply with noise abatment procedures so you cannot fly there. If you live in the desert, Utah, Nevada, West Tewas, then its fine. No way you can use it in busy airspace with lots of inhabited areas underneath !!
This video is one of my favorite. In fact the reason I started my purchase process. I am actively looking for single pilot, range of 2200 nm, 8-9 passengers, we fly about 200 hours per year. Currently looking at IAI Westwind 1124 but would love any suggestions. We would like to see if a unit was maintained for 135 purpose. Any feedback would be appreciated it.
A jet for the prices he’s saying is probably not correct, the plane will probably have run down engines that need to be replaced and it will probably be old (so the avionics might not be modern), the price you would need to invest will most likely be more than double the price you bought it.
I can't help but smile on this because you literally did your homework on this video. My knucklehead wife been talkin about private jets for a minute now. If she see this video there's a guarantee that I will hear I told you so! Within Reach! I'm thinking more about storage and maintenance. When she's only thinking about purchasing. Keep up the good work man. Love watching your videos.😀😁😊
Wait, you mean I can buy a jet and go places.😂 Wait, hold up, so what you're saying is I can buy a jet and oh I don't know, I mean you could go places I guess I mean if you want to.😂 sorry dude I couldn't help it. Just too funny.
I watch "Selling Jets" on the AWE channel. Great educational channel for understanding the cost of owning a jet. Quite a few intangibles that actually go into deciding what aircraft one might wish to purchase.
That older Lear 24 cannot fly in the states unless the engines have expensive Stage III Hushkits. The fuel burn on those General Electric CJ-610 engines are also in excess of 300 gallons an hour. You're overlooking many issues with these older aircraft. The maint costs will EAT YOU ALIVE!!!
If you buy a 36A with the Hushkits upgrade, you will have the most economical small jet to fly, one of the fastest jets in the air, as well as a range of nearly 2,800 nautical miles. With key stops, the plane could go to Europe.
Mike!!! Wuts up man!! I remember going to the OneLA mens meetings with you! How are you and the wife?? We should catch up I’m coming back out there soon!!
I could totally do that Lear! Now to calc the type rating....and maintenance. Oh, fuel. And....wait...WRITE OFFS!!! Then again, I could buy one hell of a yacht for that price.
I love that Lear 24D that is my favorite, I just started my online flight training, hope to get certified to do my flight training, hope to get my pilots license within 6 months and do some serious flying. These videos ar very informative keep it up
Bill, who cares ??..When you can get to this level and say you own any thang that flies.....Who TF cares...Specs are always relative....A Lambo in the right hands, size and weight can do 170 mph...But, a 300 pd person it wont.....Soooo...???
The explanation was really vague in the video but hopefully this helps. $1 million is the number they came up with for an operational cost of flying the aircraft for an average of 400 hours per year. If you fly less, you pay less. Fly more, pay more. The operational cost has many things factored into it. Not only maintenance. Jet fuel is expensive. The plane I’m currently flying for the airline that I work for costs $70,000 to fuel up from empty to full tanks. So depending on how much flying you do, fuel will be one of your biggest costs. Airports also charge landing fees which vary depending on the aircraft’s weight. Heavier planes = higher landing fees. There’s alot more involved but I don’t wanna end up writing a book here lol. But yeah hopefully this helps you understand the expensive fees associated with owning an airplane.
Love & Appreciate Your informative & fun Videos! Also Your inviting welcoming nature Mike! You are an inspiring Being! Blessings to You & all Your winged Followers :)
With doing a used market you should have put the Gulfstream II in there at well under 1 million. The Citation II became the Citation V and later became the CJ2. Cost to run any of these aircraft will vary due to location and time of usage. The thing that would put the Citation II above the lear though the speed is lower the Citation II was a single pilot aircraft where all Lear Jets where never approved single pilot so your cost goes down though your insurance goes up only having one pilot vs 2 pilots but not usually equal to a qualified pilot's salary. Citation line is known or short field landing. They are one of the only straight wing aircraft on the Citation 1, 2, 5, ultra, cj2 that have that classification which allows them access to shorter runways than most jets. Now Honda and premier jets are able to fit I believe. Additionally, the Hawker 800A is able to be acquired under 1 million on the used market. Challenger 601 can also be found under 1,000,000 USD. Found a Citation V ultra for $852k on controller if you want to change from Citation 2.
SpaXpert you can stand in a Gulfstream II also. The Gulfstream line is more popular though both are fairly comparable. Personally I like General Dynamics over Bombardier as a parent company but cost on a Challenger 600 & 601is sweet for what the plane is capable of.
The cost for a second pilot can be very affordable under the right circumstances. There are plenty of pilots out there desperate to build up hours, gain a type rating, or build up s resume towards their dream airline position. I’ve seen students/graduates from my local College’s Bachelor of Aviation Technology program who would gladly work for minimum wage or free. They need a minimum of 420hrs in the air of formal work experience to graduate. Most of the students have no issues, since the school provides industry contacts and interviews. There‘s always a few who struggle for whatever reason though (probably below average interview skills/social skills). Dangle a new type rating plus time in the cockpit in front of them and they’ll come running. Lol
A lot of the two pilot Jets, can be updated with Avionics, to be suitable for a single pilot/two pilot operation. Which is amazing, if you don't always have that 2nd pilot. The LearJet 24 D in your video would get a Avionics upgrade right away. I would probably put a Collin's system in it. Since they are one of the most integrable systems.
There are a lot of private jets that sell for less than $1M, but as you point out, upkeep is a major factor (though nowhere close to the $1M/year you mention for any of these birds). A Citation 500/501 can be had under $300k. Not as fast as the Lear 24D, perhaps, but (1) legal to fly in the US without hush kits, and (2) single-pilot.
Years ago when I was a kid our family business was newspapers, we owned 2 Lear Jets. We had a 25 and a 35. The 25 was eventually replaced by a 55 and the 35 replaced by a 60 by the time I was in high school. They were so bad ass and amazing to travel in. Then the industry tanked due to the internet, and we sold everything to get the fuck out before it all caved in. It was fun to be a kid and see that stuff. The industry is a mere skeleton of what it was before the internet, newspapers are dying more and more everyday. I can't imagine how much all that shit cost to run. Glad I'll never know.
MIke, yes, you CAN find an Eclipse 500 for less than a million dollars. However, the airplane won't have the latest upgrades, may still be using Garmin GNS-400Ws for navigation, and may not have the engine upgrades necessary for higher altitude flight. The best way to go right now is the Total Eclipse, and those, depending on the hours, will range from right about a million to one and a half million, or a little over $2.1M if you get it remanufactured from the factory. As to the Mustang, I did find ONE airplane, in France, for less than $1M, but it's also right at TBO on the engines. That's going to run you $600,000 right out of the gate. So, yeah, they may be out there, but expect to put out a lot of money after the purchase. Both the Citation Bravo and the LearJet 31 need two crewmembers to fly, they are not single pilot airplanes. So, make sure you budget for that extra person in the right seat. I want to see where you're finding a Learjet 31A in the $400K range, though. (Well, there is ONE at that price, in Japan, but again, coming up on TBO for the engines, cheaper to sell) Least expensive I found was in the $600K-800K range, and many of those were coming up on TBO for the engines, which is another million dollars. As to the 24D, hey, there's one for sale for less than $45,000. Of course, it hasn't been inspected in forever, one engine isn't running correctly, both the engines are turbojets, not turbofans, so they burn fuel like crazy, and by the way, I don't know of too many 'light airplanes' that stall at 87 knots. Any light single has to, by law, stall at 61 knots for less, unless an exemption has been made, i.e., the Pilatus PC-12 and others in that weight category. You know, you have some interesting videos, but you get a lot of the details wrong, and that really ruins your credibility.
@Gray C. You know I read your entire comment and then re-read it. Your points seems to be, as you say at the end of your comment: this guy mike gets a lot of the detains wrong. The thing is he really doesn't. At least not in this video. Yes he says you can find these jets for under of slightly over a million. But he also says over and over again that you have to look and he also says that you will most likely have to pay just as much in maintenance. This guy says tlhat several times, starting with the introduction of the Mustang, the first plane he talks about. Now I don't have a dog in the "mike" fight here, but if you're going to criticize a man, then you should make sure you have your facts right. And you don't. In this case there is a "credibility" problem true. But its not Mike...its YOU.
@@zutrue I think the point here is sure you might be able to buy them for less than a million, you just wont be able to fly them, so I ask you whats the point unless you're looking for some expensive yard art? So I would defer to Gary C on this and many other videos that this young man puts out, get the relevant facts correct before putting the video out.
@@thetazva I am not sure what you are talking. Or what your point is here. This man clearly states and repeats several times that you can find a deal at LOW price be you have to look long and hard. And when you find it you are going to have to bring it up to speed. You are going to have to have maintenance!! It is going to cost you well beyond the low initial price!! The man says the several times in his video. And then he re-emphasizes it several more times in the body of his video. If you can't appreciate and comprehend that, then there is nothing either I or common sense can tell you.
@@zutrue Interestingly I am not the only one who pointed out the issues with his videos. Some obviously with more aircraft experience than either one of us, but yet you still discount their wisdom as well.As well I could care less what you said, the comments were for the maker of the video, not you.
That’s kinda cool. The shot of that Learjet at the end of the video belongs to Phoenix Air out of Cartersville GA. I spent many days at the CAP squadron there. Wishing for the chance to fly one of their jets.
Hii bro I am from india and like ur channel.. I want to buy a low cost mentenence , private jet. Kindly revert back where should i look for and should i buy a pre owned
If you get one under a million dollars then it probably has high time motors or hot sections. Figure a half million to do hot sections or a million for complete overhauls. The Lear 24 guzzles gas especially if you cannot get up to altitude. Ballpark $3500 per hour just in fuel and consumables but not including maintenance.
I'm watching this video with exactly $7 in my bank account.
Dreaming is not illegal....
4 more than me!! Lol!
I am absolutely $0 right now
Now, that pretty much covers the definition of an optimist.
Update my guys: I got hired in a startup and now I make 6000 a month. Thanks to those who believed in me.
Nobody:
My Bank account: Why did you even click on this?
Hey,dreaming is legal.
Because I couldn't see the million part in the description.
My non existent bank account: first time?
Because I wanted to.
“If you look hard enough”
Me: starts eating carrots
Oop
put all your money in stocks as aggressively as you can, live like a student, earn well. stocks like AMD and Enphase which is what I'm holding right now, pretty soon the stock growth outweighs your income and keeps growing exponentially and suddenly little things like jets are affordable :)
another way to get rich but is more demanding is buying real estate and renting it out. The renters pay the mortgages which accumulates equity for you. I got a decent paying job about 4½ years ago, put most in stocks and now it's about double my salary. A year or two from now I can retire and live in luxury at the same time :) Odd but real. I had Tesla stock for te couple of years where nothing happened, only pain and chaos so I switched to AMD which went well but had I stuck with Tesla I would have 2-3million $ today :) no one saw that coming but still a very sobering thought. And the thing about stocks (if you are sensible) is that 2-3million is not a total winnings but a ticket to earn millions every single year. The base sum is all important because it's percentage gains.
It might not last forever, the stock market has become incredibly mainstream lately and that can't last but I intend to not miss whatever opportunity is there. Money isn't everything but it certainly makes some things possible.
This is exactly why you charter out your private jet when you’re not using it so it will make money to cover the maintenance costs
Oh, is that the game.
yabadoo “charger” haha you defiantly have a hangar
@@palmchristmastree TIL English spelling = criteria for having a hangar
@yabadoo No one wealthy would use such language as "peasant".
@yabadoo sure
Private jet gives you two great thrills in life.. One when you buy it.. Another when you sell it.
y’all I’m 12 years old I have no clue why I’m watching this💀💀
lmao
Fr
Manifestation! You guys will reach places for sure.. all the best
Come back in ten years when you’ve bought one
I'm 13 n same here bud
Some 1% : under a million what am I poor
Balance 99%: why am I watching this video
M Ean 0.05% actually watching this video to find a reasonably priced private aircraft.
@TheBlondie made a decision yet? someday I love to own a beechcraft premier 1A
Dude the 1% can’t afford jets the 0.001 can buy these
Son: Dad, we have a private jet?
Dad: Yes Son. It's all we have left.
buying an aircraft is the easiest part, iam sure it costs a lot to maintain those
Yea of course you would need up to a million per year to operate the average mid size jet.
A million per year if i fly it or not ??? or a million per year for 1000 hours of flight????
Fedor Amuricano most light jets cost about 1500-3000$ an hour, plus about 30,000$ for hangar space.
Saw a video of a guy who owned a Citation Jet. Similar in size and price to the Mustang and he quoted around 1500/hr for operating cost. that included hanger, fuel and engine reserve. He flew about 150-200 hours a year ($225,000/yr based on 150 hours/yr). since fuel is a large expense, not using the aircraft as much would bring that cost down, But he Cessna engine program has an hourly cost that you pay to Cessna for when the engines do need an overhaul, you've already paid the cost or most of it. You pay the engine fees for 150 flight hours per year whether you fly that much or not, so it makes sense to get a least 100hr per year out of it to justify having to pay that. So extrapolating that out you can probably run that jet for between 300-600k per year depending on unforeseen maintenance cost. But a well maintained and serviced aircraft should be able to be operated for well under 500k/yr. I don't think most owners would buy a jet that cost them the purchase price per year even if they didn't use it.
Asking the same question, I got the reply: "if you have to ask about the maintenance, it's too expensive for you".....
I wish the Beechcraft Beechjet 400a had been included on the list, it's a great airplane that still looks recent even though production started in the 90s. I've seen them going for $280,000-$600,000 for slightly older ones but with TTAF under like 2,000 hours so not bad, they're reasonably fuel efficient too
I love watching your videos. As an airplane owner myself I can appreciate what you’re doing. Thank you.
Question, does it really cost a million dollars a year to own a small private jet
No, that's an ex saturation.
When you realize buying a jet is cheaper than going to college and it’s likely you’ll make more flying in the private sector than being a Harvard English teacher.
Lars Freeburg the fuck is a Harvard English teacher?
yabadoo there aren’t any teachers at Harvard lol
@yabadoo - I think that @non yobusiness - was trying to convey the fact that (you rightly labeled them 'professors') instructors at Harvard are now nothing more than apparatchik. They are indoctrinators.
At least that was my take.
CreekyGuy I’m sorry bro but nah. This bros points are stupid. Unless you are attending a rich white under achieving private university you are only looking at 100k in debt. You ain’t buying a jet for that. Commercial jet pilots for large jets have always made a lot 150,000-200000 depending on the company. It usually that’s going to pilot school and years of working at poverty level wages to get there. The dude made no point, obviously doesn’t understand the real world and is stupid. Your indoctrination mess you pulled that out of your ass. Grow up learn logic.
@yabadoo - Let it go, Jake... It's non yabusiness town. You can't argue with an ignorant racist.
Nice video. Learned something today!!! .....you are on a roll with these videos aren't you?? 😃
2X a week. I'll be doing Live Q&A soon to answer a lot of viewers questions so sty tuned :)
Fun fact: eclipse 500 is used like a 172. It's normally a trainer jet.
I wanna have one
before 40s
That was good mike, thank you!
good to know i remember when this used to be further away now i am actually thinking about one
Well the problem is - 950k sounds cheap. But the running costs are still extraordinary.
I flew Citation 1 and 2 as well as Do228.
In case you fly yourself and hold a rating which costs about 100- 200k (depending on where you do it), you still have to consider the maintenance and service costs.
Average one can say it costs $2500- 5000 on maintenance or regular wear and tear- a month! All money which has not been used is saved for major replacements which will come sooner or later. Such as instrumentation, or avionic units, or parts of the propulsion system - maybe even a whole new engine if youve got a bird strike and stuff.
On top of that you have scheduled inspection and replacement cycles which Id place at about $500-1000 a month (of course depends on how much you fly and how much you do by yourself, because a pilot can do the test cycles too).
A hanger at maintenance services at smaller airport costs about $200 a day, but if you do your service at another place than your base, you have to consider ferry costs- cause you gonna be there quite often.
Small airfields with hard surface runway but without instrument approaches offer hangar sharing for less, but its still at $1000- 1500 a month minimum- and others may have to tow your jet around. Additionally, you have to take ground service fees into acount when you are parking it at your destination - which is for a citation 1 or 2 about $300 a day (And that is just marshaller, parking and if you are lucky transpo to the GAT, in some places a pushback is included). And then you have your fuel consumption, which is a little higher in a Jet or Turboprop. Citation 1 took about 400- 600lbs an hour at optimum altitude. Depending on the location you use your jet, it can be about $500 to $2000 an hour of fuel. Filling a CJ up was always about $6000, some locations in Europe about $10000. Giving you a flighttime of somewhat between 5 and 6 h at 230ish KIAS which is a travel distance of good 1300-1500 NM.
To add it up: Using the Citation 1 as we did, was around €5000/h, and the Do228 about €7500/h all inclusive. Even on a budget jet, 10 million is mostly gone within 10 years of flying only 2h a week. ;)
Excellent write up! You forgot to be safe with an aircraft that covers 8 plus miles a minute and can go if pushed to 50grand in altitude, was training. And not from someone who flew one 2 yrs ago.!
you should have done thevideo
I fly a Lear 60. Pretty competent plane. 4.5 hour range with 7 passengers. You can buy a mid serial number version for 1.3 million. It costs us about 700K a year to operate for 250 hours. That's fuel, crew salary, maintenance, training, hangar, insurance.
Thats about $5-5.50 per mile when the HondaJet is less than half that!
And a Honda motorcycle is way cheaper.😅
If it flies, floats or f*cks, its always cheaper to rent.
learned this the hard way.
best quote ever
true
And you’re not stuck with the same one!
The LearJet 24 it's true it has performance and speed, but unfortunatly lots of noise too. This is much older technology with pure jets, no bypass, and lots, lots of kero burning. Built before the first oil crisis. Many airports and environments where it cannot comply with noise abatment procedures so you cannot fly there. If you live in the desert, Utah, Nevada, West Tewas, then its fine. No way you can use it in busy airspace with lots of inhabited areas underneath !!
This video is one of my favorite. In fact the reason I started my purchase process. I am actively looking for single pilot, range of 2200 nm, 8-9 passengers, we fly about 200 hours per year. Currently looking at IAI Westwind 1124 but would love any suggestions. We would like to see if a unit was maintained for 135 purpose. Any feedback would be appreciated it.
A jet for the prices he’s saying is probably not correct, the plane will probably have run down engines that need to be replaced and it will probably be old (so the avionics might not be modern), the price you would need to invest will most likely be more than double the price you bought it.
Or triple!
I can't help but smile on this because you literally did your homework on this video. My knucklehead wife been talkin about private jets for a minute now. If she see this video there's a guarantee that I will hear I told you so! Within Reach! I'm thinking more about storage and maintenance. When she's only thinking about purchasing. Keep up the good work man. Love watching your videos.😀😁😊
Thanks. Lol keep trying. I'm still trying to talk my wife into my first homebuild 😀
Oh hell please don't go there Mike! I do not want to see your name splattered on Kathryn's report!
You can always get a new wife, lol.
31a is a beautiful plane.
Wait, you mean I can buy a jet and go places.😂 Wait, hold up, so what you're saying is I can buy a jet and oh I don't know, I mean you could go places I guess I mean if you want to.😂 sorry dude I couldn't help it. Just too funny.
If you spend less than a million on any private jet make sure you invest in some good parachutes
you have no clue about this ... .
@@perrooceaniko2005 Exactly!! Sadik Meah has NO CLUE what he/she is talking about. That is a ridiculous statement.
I watch "Selling Jets" on the AWE channel. Great educational channel for understanding the cost of owning a jet. Quite a few intangibles that actually go into deciding what aircraft one might wish to purchase.
That older Lear 24 cannot fly in the states unless the engines have expensive Stage III Hushkits. The fuel burn on those General Electric CJ-610 engines are also in excess of 300 gallons an hour. You're overlooking many issues with these older aircraft. The maint costs will EAT YOU ALIVE!!!
Loren Jackson 300 GALLONS A HOUR ur fucking joking
If you buy a 36A with the Hushkits upgrade, you will have the most economical small jet to fly, one of the fastest jets in the air, as well as a range of nearly 2,800 nautical miles. With key stops, the plane could go to Europe.
@@bodyloverz30 You don't need hush kits for a 36A....it already has a turbofan engine on it. The 20 series Lear's didn't. They had GE CJ-610 engine's.
@@lorenjackson8961 Thanks for the info.
I like my turbines loud!
Super dope video, exactly what I was looking for. Subscribed!
Mike!!! Wuts up man!! I remember going to the OneLA mens meetings with you! How are you and the wife?? We should catch up I’m coming back out there soon!!
Best video on steals for private jets. Double thumbs up!
I could totally do that Lear! Now to calc the type rating....and maintenance. Oh, fuel. And....wait...WRITE OFFS!!!
Then again, I could buy one hell of a yacht for that price.
But a yacht won't go as fast!!
If you buy a 1980’s jet, you’re likely to soon have a submarine.
Really appreciate your videos!
A VLJ like the Citation Mustang does not cost you anywhere near $1 million to run a year. More like $150-$250k.
My best guess is 300-400K
Maybe he meant in the first year. Since going for the cheapest jet will mean it’s TBO on the engines are due $$$$
The truth is that it costs much money and if you are not rich you cannot afford it.
That only 230 hours per year at best?
@@infotrex which is plenty for personal use. Of course if you run it on a charter it's gonna fly 500 hrs and cost more per year.
Great video. Thanks man. Very informative.
that's a winner mike! keep up the goods. now make subsequent videos about maintenance hubs and compare them, storages etc.
Mike, this is a good one. Dig a little deeper and get the research references in there. Your doing great. We need younger faces in this industry.
Thank you
I love that Lear 24D that is my favorite, I just started my online flight training, hope to get certified to do my flight training, hope to get my pilots license within 6 months and do some serious flying. These videos ar very informative keep it up
Been flying jets for 40 years. More wrong info here than correct.
William Potter li g
William Potter a good trade to pass on to younger siblings.
Pretty sure nobody here is looking to buy one anyway 😂
Bill, who cares ??..When you can get to this level and say you own any thang that flies.....Who TF cares...Specs are always relative....A Lambo in the right hands, size and weight can do 170 mph...But, a 300 pd person it wont.....Soooo...???
William Potter, better start singin' post-retirement blues.
I'm just getting into planes and jets, so I don't know if this is possible, but could you do jets under 500k
I'll check some out. thanks.
That Learjet 24 has me thinking long an hard now....
Me too.
The problem with the Lear 24 is it sucks out fuel like no other you should go for the Lear 31.
Don't even think about the 24.. Wil be spending twice more time in service and fuel pumps... Expensive to run is understatement
But it performs like a bat outta' hell!!!
But the 31A isn't THAT much more and is better all around.
Thanks Mike I always like your work!
Is maintenance really a million per year? sounds too high, even for aviation.
The explanation was really vague in the video but hopefully this helps. $1 million is the number they came up with for an operational cost of flying the aircraft for an average of 400 hours per year. If you fly less, you pay less. Fly more, pay more. The operational cost has many things factored into it. Not only maintenance. Jet fuel is expensive. The plane I’m currently flying for the airline that I work for costs $70,000 to fuel up from empty to full tanks. So depending on how much flying you do, fuel will be one of your biggest costs. Airports also charge landing fees which vary depending on the aircraft’s weight. Heavier planes = higher landing fees. There’s alot more involved but I don’t wanna end up writing a book here lol. But yeah hopefully this helps you understand the expensive fees associated with owning an airplane.
Great video Mojo Mike! Subscribed. 😉👍
Great and informative video. Some sleek planes! Thank you!
Enjoyed the video and subscribed.
This is an awesome video! Can you do a similar video comparing single-engine turbo props (maybe dual-engine too). 👍👍
Great and entertaining channel.
Mike....good job with these series of videos!
Thanks Mike ... great info
I can only afford a c-152... Model airplane.
I just gave you the 10.000th like! Congratulations!
Awesome info thanks
Love & Appreciate Your informative & fun Videos! Also Your inviting welcoming nature Mike! You are an inspiring Being!
Blessings to You & all Your winged Followers :)
I would love to have a Citation SII - Single Pilot, FL430 - 2400nm range....and some models are around 900k....
With doing a used market you should have put the Gulfstream II in there at well under 1 million. The Citation II became the Citation V and later became the CJ2. Cost to run any of these aircraft will vary due to location and time of usage. The thing that would put the Citation II above the lear though the speed is lower the Citation II was a single pilot aircraft where all Lear Jets where never approved single pilot so your cost goes down though your insurance goes up only having one pilot vs 2 pilots but not usually equal to a qualified pilot's salary.
Citation line is known or short field landing. They are one of the only straight wing aircraft on the Citation 1, 2, 5, ultra, cj2 that have that classification which allows them access to shorter runways than most jets. Now Honda and premier jets are able to fit I believe.
Additionally, the Hawker 800A is able to be acquired under 1 million on the used market. Challenger 601 can also be found under 1,000,000 USD. Found a Citation V ultra for $852k on controller if you want to change from Citation 2.
Challengers are the ticket! At least you can stand up and enter without having to duck your head!
SpaXpert you can stand in a Gulfstream II also. The Gulfstream line is more popular though both are fairly comparable. Personally I like General Dynamics over Bombardier as a parent company but cost on a Challenger 600 & 601is sweet for what the plane is capable of.
Good one. Much appreciated!
The cost for a second pilot can be very affordable under the right circumstances. There are plenty of pilots out there desperate to build up hours, gain a type rating, or build up s resume towards their dream airline position.
I’ve seen students/graduates from my local College’s Bachelor of Aviation Technology program who would gladly work for minimum wage or free. They need a minimum of 420hrs in the air of formal work experience to graduate. Most of the students have no issues, since the school provides industry contacts and interviews. There‘s always a few who struggle for whatever reason though (probably below average interview skills/social skills). Dangle a new type rating plus time in the cockpit in front of them and they’ll come running. Lol
Where we park these jets my house 🏠 is not to big for landing and takeoff any jets
watchng this fall 2021, can you do some research on the new ev planes coming out and do a video on those?
Why old stats? Prices et al ie 2007/2008? Arent there updated market stats?
A lot of the two pilot Jets, can be updated with Avionics, to be suitable for a single pilot/two pilot operation. Which is amazing, if you don't always have that 2nd pilot. The LearJet 24 D in your video would get a Avionics upgrade right away. I would probably put a Collin's system in it. Since they are one of the most integrable systems.
Very good compilation
The problem is the $1m/year running cost, not even the initial purchase.
The Lear 31 needs two pilots though, right?
Saw an Eclipse 500 for 375k like 10/12 months ago. Got scoffed up quickly.
My cucamber is target you
Wow. Love this video. Keep up the good work mate.!
Your miss work for my gool
Dang that Mustang’s yokes coming out of the panel looks like a C152.
Awesome Information
There are a lot of private jets that sell for less than $1M, but as you point out, upkeep is a major factor (though nowhere close to the $1M/year you mention for any of these birds). A Citation 500/501 can be had under $300k. Not as fast as the Lear 24D, perhaps, but (1) legal to fly in the US without hush kits, and (2) single-pilot.
Thanks very much, might consider acquisition👍
Wow amazing jet with reasonable Price👌👌👍👍👍
Great video!!!
Gimme dat Learjet 24D Upgraded with the Avidyne Entegra R9 Dual ADHRS System. Oh Man!!!!
Von W. De avidyne entegra da what? I have no clue what all that is
great video.....thank you for this information.
Was this video exported at .75x speed?
Sir you have Cessna caravan? I have a buyer waiting. Plz reply me
Can u pls do one under 10mill???
Well done. Thank you!
Good info Mike👍
That Learjet 24D is still for sale. Down to 99,500 now.Its in Myrtle Beach SC
Great thanks for sharing
Me: *watches video about jets under 1 mil*
Also me: eating taco bell on my cheap couch
Years ago when I was a kid our family business was newspapers, we owned 2 Lear Jets. We had a 25 and a 35. The 25 was eventually replaced by a 55 and the 35 replaced by a 60 by the time I was in high school. They were so bad ass and amazing to travel in. Then the industry tanked due to the internet, and we sold everything to get the fuck out before it all caved in. It was fun to be a kid and see that stuff. The industry is a mere skeleton of what it was before the internet, newspapers are dying more and more everyday. I can't imagine how much all that shit cost to run. Glad I'll never know.
Love your videos. Got yourself a new subscriber👍 Is there a video about turboprops? Single and multi-engine?
Thank you Giovanni. Haven't made one yet on turboprops, but it's coming.
Do you know any jets too buy in Kingman AZ
Thanks you Mike for the 5 private jets. You could buy.🤙
Does the Cessna citation need a co-pilot
So let me guess I have to sell my house and almost every thing in it just to have a private jet that my house is 4 times the size of
But how safe is the learjet 24???
MIke, yes, you CAN find an Eclipse 500 for less than a million dollars. However, the airplane won't have the latest upgrades, may still be using Garmin GNS-400Ws for navigation, and may not have the engine upgrades necessary for higher altitude flight. The best way to go right now is the Total Eclipse, and those, depending on the hours, will range from right about a million to one and a half million, or a little over $2.1M if you get it remanufactured from the factory.
As to the Mustang, I did find ONE airplane, in France, for less than $1M, but it's also right at TBO on the engines. That's going to run you $600,000 right out of the gate. So, yeah, they may be out there, but expect to put out a lot of money after the purchase.
Both the Citation Bravo and the LearJet 31 need two crewmembers to fly, they are not single pilot airplanes. So, make sure you budget for that extra person in the right seat. I want to see where you're finding a Learjet 31A in the $400K range, though. (Well, there is ONE at that price, in Japan, but again, coming up on TBO for the engines, cheaper to sell) Least expensive I found was in the $600K-800K range, and many of those were coming up on TBO for the engines, which is another million dollars.
As to the 24D, hey, there's one for sale for less than $45,000. Of course, it hasn't been inspected in forever, one engine isn't running correctly, both the engines are turbojets, not turbofans, so they burn fuel like crazy, and by the way, I don't know of too many 'light airplanes' that stall at 87 knots. Any light single has to, by law, stall at 61 knots for less, unless an exemption has been made, i.e., the Pilatus PC-12 and others in that weight category.
You know, you have some interesting videos, but you get a lot of the details wrong, and that really ruins your credibility.
@Gray C. You know I read your entire comment and then re-read it. Your points seems to be, as you say at the end of your comment: this guy mike gets a lot of the detains wrong. The thing is he really doesn't. At least not in this video. Yes he says you can find these jets for under of slightly over a million. But he also says over and over again that you have to look and he also says that you will most likely have to pay just as much in maintenance. This guy says tlhat several times, starting with the introduction of the Mustang, the first plane he talks about. Now I don't have a dog in the "mike" fight here, but if you're going to criticize a man, then you should make sure you have your facts right. And you don't. In this case there is a "credibility" problem true. But its not Mike...its YOU.
@@zutrue I think the point here is sure you might be able to buy them for less than a million, you just wont be able to fly them, so I ask you whats the point unless you're looking for some expensive yard art? So I would defer to Gary C on this and many other videos that this young man puts out, get the relevant facts correct before putting the video out.
@@thetazva I am not sure what you are talking. Or what your point is here. This man clearly states and repeats several times that you can find a deal at LOW price be you have to look long and hard. And when you find it you are going to have to bring it up to speed. You are going to have to have maintenance!! It is going to cost you well beyond the low initial price!! The man says the several times in his video. And then he re-emphasizes it several more times in the body of his video. If you can't appreciate and comprehend that, then there is nothing either I or common sense can tell you.
@@zutrue Interestingly I am not the only one who pointed out the issues with his videos. Some obviously with more aircraft experience than either one of us, but yet you still discount their wisdom as well.As well I could care less what you said, the comments were for the maker of the video, not you.
Great video. I can definitely say the mustang is an awesome jet. I work on them all the time for routine maintenance and they are sweet.
That’s kinda cool. The shot of that Learjet at the end of the video belongs to Phoenix Air out of Cartersville GA. I spent many days at the CAP squadron there. Wishing for the chance to fly one of their jets.
Where will I get one
Within 5 years I will buy this for sure
Hii bro
I am from india and like ur channel..
I want to buy a low cost mentenence , private jet.
Kindly revert back where should i look for and should i buy a pre owned
Minumum 10cr plus hai bhai
If you get one under a million dollars then it probably has high time motors or hot sections. Figure a half million to do hot sections or a million for complete overhauls. The Lear 24 guzzles gas especially if you cannot get up to altitude. Ballpark $3500 per hour just in fuel and consumables but not including maintenance.
Citation Mustang is probably the best of the bunch because it is a later model aircraft and Cessna has a good support program.....
Nice video.
Thank you for the info, keep it up.
Hello Mojogrip thanks for the amazing videos. I have a contact looking to sell his jet, where’s the best place to look ?
Why they didn’t put the synthetic vision of Cessna citation in the citation 750x ??
GREAT VIDEO!!!