How do you guys afford a brand new SLSA?

[garbageman]

Paul
Be aware that the IRS looks at "leasing" as a passive activity. To be able to take full tax advantage of a lease back, one must be able to show the leassor is a major "participant" in the activity.
David

[drseti]

That is correct, David, and I address the issue in the last paragraph of Section 8 of my leaseback contract:

Material Participation by Owner. FBO acknowledges that it is the Owner's intent to meet the IRS test for material participation in this activity. Accordingly, FBO agrees that neither its principals nor employees will collectively devote more than 100 hours per year to management of the Owner's aircraft, except for maintenance, inspections, and service as contracted and paid for by the Owner.

To see how this breaks down, let's assume the plane rents for $120/hour, wet Hobbs, and gets rented for 300 hours a year. That brings in $36,000, of which $28,800 (less operating expenses) accrues to the owner, and $7200 in management fees goes to the FBO. If the FBO puts in 100 hours of time managing the aircraft, that's a management labor rate of $24/hour earned by the FBO (which is about what clerical labor costs these days). If the plane flies more hours, the owner makes more money, and the FBO's hourly return increases, so both are incentivized to keep the plane flying.

[dnhill]

To be able to afford a brand new SLSA?

I believe most of success is about informed choices well made. For me, I chose first an educational route (all paid for by me, while working) to a career that would provide enough income for a good standard of living. I had friends in college that choose career paths that they knew to be low paying and then when in the career seemed very unhappy that they were not paid as well. Other choices were working more than 40 hours per week and going back to school to qualify for an even higher paying job. I started a business with partners that flourished and have recently sold it. There were times that the business could have tanked due to regulation, but we were able to sell for a good profit.
So, in short, a dozen years of education post high-school while working full time-plus, then investing all of my money into a business, was my way. To many people, I was just "lucky."

I could have had an airplane earlier in my life, but my choice ( and thankfully my wife's) was to have several children. Now there is a topic of how can you afford them! My children, now grown, have brought infinitely more pleasure than flying ever could. Now I hope to share with them my passion of flying.

[drseti]

So, in short, a dozen years of education post high-school while working full time-plus, then investing all of my money into a business, was my way.

Sounds very familiar. In my case, a Silicon Valley start-up in the 1970s was my path to fame and fortune. Fame is fleeting, and the fortune quickly spent, but I did bank enough to subsequently be able to live on a schoolteacher's salary (which pays far less than honest labor), while enjoying the Captain of Industry lifestyle. But those ten years of college didn't hurt either.

My first aircraft was in fact a company plane, about half of which was paid for by you, the taxpayers (thank you very much!) in the form of investment tax credits and accelerated depreciation. That one was traded in thirty years later on an S-LSA. This path doesn't offer much to he or she who demands instant gratification.

[deltafox]

This path doesn't offer much to he or she who demands instant gratification.

BS in Engineering, followed by 7 years of "free" education in the US Navy, another 25+ years using that education to get paid a reasonable salary in a major corporation, allowed me (making some financial sacrifices/choices) to buy mine. Easy-peasy

[Nomore767]

For me, I still prefer a low-wing SLSA with dual stick controls with a 6-pack analog gauges instead of all that glass. The only glass I would want is probably a portable VFR GPS.[/quote]


The new Skyview update included the six-pack instrument option. It looks like this:-

http://kitplanes2.com/blog/wp-content/u ... FD_web.jpg

(sorry I couldn't figure out how to paste it here, the image was too big)

You can have the six-pack on a plain background or the synthetic vision. If you are not inclined to buy a plain with EFIS I would say go the kit route and configure it as you please, bearing in mind the EFIS is lighter and probably easier to maintain in many ways.

Advanced Flight Systems offer the six-pack on their EFIS range although they were bought out by Dynon (maybe this is how Dynon got to provide the six-pack option?)

I do think that many folks have way more EFIS than they really would ever need. Some have more capability (EFIS-wise) than modern Airbus and Boeings!

[drseti]

That's a beautiful display. I especially like how the six pack is superimposed over the synthetic vision screen. My only concern is that the display is so pretty that pilots will spend all their time looking at the panel, instead of outside.

[Nomore767]

Paul,

You can opt to have the six-pack superimposed on a plain background, and it looks like an aircraft panel.

Notice on the display the AOA indicator also.

I believe the six-pack replaces the vertical tapes for the same info. This is from the pitot static system not GPS derived info as on iPads apps etc.

If you want pilots to look outside and still have the six-pack option…wait for the Head Up Display update!!

[CTLSi]

......

[drseti]

If you want pilots to look outside and still have the six-pack option…wait for the Head Up Display update!!

I can't believe nobody's come up with a Google Glass interface for a synthetic vision EFIS.

[ct4me]

I can't believe nobody's come up with a Google Glass interface for a synthetic vision EFIS.

You mean like this?
http://glass.aero/

[drseti]

Now that's the stuff! Guess I should have gone to Oshkosh this year.

[designrs]

With the exception of traffic warning that device would drive me absolutely nuts! LOL

[bottleworks]

(I'm gone. Everything deleted! Can't stand the ignorant data spread here).

[FastEddieB]

I have seen calls of the Dow going to 12000. I have also seen some predicting 6000, 5000, and 4000.

Since this is a zombie thread anyway...

....had you seen any calls two years ago for DOW 18,000?

Not quite there yet, but tantalizingly close.

17,958.79

Not a bad gain over just a couple years!