Financing a homebuilt

[John Skorczewski]

Any thoughts on how to finance a homebuilt airplane? I`m thinking
about building an rv-10. From what I have heard, expect to pay at
least $100,000 (I`m betting it will be more!!!) for a completed plane
with 260 hp engine and decent avionics. I don`t know about anyone
else, but I don`t have that kind of spare change on me. Any thoughts
and ideas on the subject would be helpful.

[Lou Parker]

(John Skorczewski) wrote in message >...
> Any thoughts on how to finance a homebuilt airplane? I`m thinking
> about building an rv-10. From what I have heard, expect to pay at
> least $100,000 (I`m betting it will be more!!!) for a completed plane
> with 260 hp engine and decent avionics. I don`t know about anyone
> else, but I don`t have that kind of spare change on me. Any thoughts
> and ideas on the subject would be helpful.


I'm kinda curious why nobody mentions a home equity loan. I'ts cheaper
on the rates, and possibly tax deductable. If your talking $20K, it
should be easy, if your talking $100K I wouldn't even bother.
Lou

[Stealth Pilot]

On 14 Aug 2004 19:36:25 -0700, (John Skorczewski)
wrote:

>Any thoughts on how to finance a homebuilt airplane? I`m thinking
>about building an rv-10. From what I have heard, expect to pay at
>least $100,000 (I`m betting it will be more!!!) for a completed plane
>with 260 hp engine and decent avionics. I don`t know about anyone
>else, but I don`t have that kind of spare change on me. Any thoughts
>and ideas on the subject would be helpful.

I know this will sound totally stupid but I guarantee that it is the
truth.

you finance an aeroplane by sincerely wanting it.

what happens is that the trivial opportunities of life that you
fritter all your savings on become irrelevant and you start mustering
resources toward one goal. work at it long enough and you will
succeed.
you will be surprised at what opportunities come along that you'd
normally overlook because you werent focussed on achieving something
at the time.

the RV kits come in modules. buy one module at a time and eventually
you will have something flying.

Stealth Pilot
Australia
.....owner of 2 aircraft.

[George A. Graham]

On 14 Aug 2004, John Skorczewski wrote:

> Any thoughts on how to finance a homebuilt airplane?

Many of us looked at this issue, and built from plans instead of a kit.

Some of us use an auto engine.

If you are clever, you can be flying a nice bird for cigarette money
(if you quit smoking) :)

George Graham
RX-7 Powered Graham-EZ, N4449E
Homepage <http://bfn.org/~ca266>

[RobertR237]

>
>Any thoughts on how to finance a homebuilt airplane? I`m thinking
>about building an rv-10. From what I have heard, expect to pay at
>least $100,000 (I`m betting it will be more!!!) for a completed plane
>with 260 hp engine and decent avionics. I don`t know about anyone
>else, but I don`t have that kind of spare change on me. Any thoughts
>and ideas on the subject would be helpful.
>

Sell your first born!

You have at least a good reasonable expectation of the cost which is the first
step. The second is to look at it as a purchase as you need project which
means that the cost will be spread over a 5-7 years of building. Van's may
also allow you purchase the original kit in stages.


Bob Reed
www.kisbuild.r-a-reed-assoc.com (KIS Builders Site)
KIS Cruiser in progress...Slow but steady progress....

"Ladies and Gentlemen, take my advice,
pull down your pants and Slide on the Ice!"
(M.A.S.H. Sidney Freedman)

[RobertR237]

>> Any thoughts on how to finance a homebuilt airplane? I`m thinking
>> about building an rv-10. From what I have heard, expect to pay at
>> least $100,000 (I`m betting it will be more!!!) for a completed plane
>> with 260 hp engine and decent avionics. I don`t know about anyone
>> else, but I don`t have that kind of spare change on me. Any thoughts
>> and ideas on the subject would be helpful.
>
>
>I'm kinda curious why nobody mentions a home equity loan. I'ts cheaper
>on the rates, and possibly tax deductable. If your talking $20K, it
>should be easy, if your talking $100K I wouldn't even bother.
> Lou

My personal opinion is that if you have to mortgage your home to pay for it,
you probably can't afford it. I agree the rates are lower, the interest may be
deductable but the risks are too high.


Bob Reed
www.kisbuild.r-a-reed-assoc.com (KIS Builders Site)
KIS Cruiser in progress...Slow but steady progress....

"Ladies and Gentlemen, take my advice,
pull down your pants and Slide on the Ice!"
(M.A.S.H. Sidney Freedman)

[Wright1902Glider]

Granted, my project came in at under $10,000 and has no motor. But that's a
sizable chunk of change for a man under 30. I financed mine $10 at a time. A
sheet of steel here, a tool there. I had to use a credit card to pay for the
spruce and the fabric.

I managed to pay off the credit card and turn a profit with the plane by
dressing up like Orville Wright and showing the plane at airshows. That was
never my intention when I started the project, but I'm glad it worked out that
way.

Harry Frey
Wright Brothers Enterprises
Wright 1878 Bat
Wright 1899 kite
Wright 1902 glider
Orville Wright impersonator

(available for airshows, weddings Bar'mitzpah's, etc.)

Next Show: Celebrate Freedom Festival Nov. 5-7, 2004 Woodward Field Camden,
SC