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.
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...???
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.
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.
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.
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.
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 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.
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.
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!!
Lear 24's must have the engines upgraded, or hushkits put on them before they are legal to fly in U.S. They originally came with very noisy turbojet engines. All of the "bargain" Lear 24's out there are out of compliance. I've been working around private jets for years, and I have never seen a up to date Lear 24 sell for less than $300-400k.
Exactly what I was thinking. I use to work at an airport in the 80s and the Lear 24 was super loud. It would cost a fortune to upgrade the engines, the price on this video is very misleading.
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 !!
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 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.
They came out they nicknamed them the pocket rockets It is not exactly 7000’ per min all the way to 55000’ It is without payload and empty wingtips tanks and perfect meteorological conditions And it is the maximum it go down as the plane is gaining altitude But even under realistic conditions of payload it is around 5500 feet min That is still very fast
The jet isn’t even the most expensive part of owning a private jet. Maintenance, fuel and a heap of other assortments must be accounted for and it’ll definitely cost you up to or more than a million in the end
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.
Takes more than than an airframe to be airworthy. I guess it's challenging to make a video that doesn't bore the layman with stuff like TBO and avionics...
I'll have to pick up one of these cheap planes for a weekend plane to keep at my beach house. I'm going to buy it up front with cash that I'm about to withdraw from my swedish bank account.
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
Old planes like the ones mentioned in the video are cheap, okay. but the cost of maintaining them is much higher than newer ones (2008+), as well as fuel efficiency. Is there a possibility of upgrades? Yes. but that ends with the cheap jet offer, and when it sells, no one will want to know if you spent 1 million on upgrades on a 500k jet. And the value of flight time for a cheap private plane tends to cost from $ 1000 to $ 5000. and depending on several factors, only 10% of this value will be fuel!
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
the day i can afford to buy even the least expensive of these, i definitely will also afford whatever's cost of maintenance, so thanks foy your work love these videos keep it up!, the work, get your mind off the gutter
those aircraft are chap because they're close to TBO, which means then engiens are about to give up and you'll have to change them. the engines alone make about 70% of the whole price of a jet.
Buying jets in those price ranges will easily hit a million in the first year. First thing they’ll need after purchase is an overhaul. Once overhauled operation costs will drastically diminish. Who would want to spend 500k-1m overhauling a 30-40 year old jet though? It doesn’t make sense since the interior will be dated requiring refit, avionics could be dated requiring refit, and the airframe could be near the end of its lifecycle due to hours/cycles. Old turbine/turboprop aircraft are like playing hot potato, don’t want to be the owner when its lifecycle expires.
You have made a video on how cheap the jets are, that's good. You have not included why they are so cheap, the number of hours the engine has, the next overhaull, next annual, what is needed is it airworthy or is that expired, is the an a slow issue with the engine which could mean a new jet engine which don't come cheap. When an aircraft is cheap it's not a great deal your getting, it could cost more than you expected. These factors are not including hangarage and maintenance. these are factors why a plane is so cheap, you should include that.
Actually, the presentation says on several occasions: be aware of ancillary cost! The commentator mentions that right out of the box with the M2. 0.32 Keep in mind to own any of these jets....you will need just as much in maintenance cost, ect. You really should listen.
This is video for enthusiasts, prob not for someone really considering buying a plane. You have a captive audience, if you're lucky, for about 8-10 minutes on YT... video is short sweet and to the point, but, you do have a point. im sure none of these jets have less that 10K hours or less than 7K TOAL
Yep engine hours between overhauls is the deal killer if you wonder how much the Hamburger cost. If not a 5-7M HondaJet then $500K/engine - 2,000 hours * 2 = $500/hour, add fuel at $2,500/hour, add extra pilot at 200/hr, Insurance $150/hour, misc other - $100/hr = $3,450. NetJets is a bit more per hour?
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.
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
Yep....and you would burn another $900k in the first year fiddling with the maintenance of an old, high-time aircraft that burns a huge amount of fuel. A GIII is expensive if you got it for free.
JetNmyFuture Yeah true. But pretty much any jet for free would be super expensive. Cause if you get one you’ll have to pay a minimum of $400k for maintenance, even for ones showed in the video.
What's going on in AZ? A quarter of the population of California, but has almost 5 times the number of new registered voters? Where are all these "voters" coming from? Everyone knows without AZ, the GOP candidate has a very difficult path to victory.
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.
You talk about $1,000,000 in maintenance and then show a two man cockpit for the 31. Add pilot salaries to those numbers as well. In summation if you can TRULY afford a biz jet, then your corporation has the finances/credit to buy much newer.
You're always talking about american made jets what about other countries jets like Germany Switzerland, or Canada?? I wish you would make videos about these jets from other countries thanks in advance
BORGOGNON PASCAL 1 second ago you buy it $1 000 000. - minimum maintenance $700 000 a year for 5 year not cheap total $4 500 000 or you buy a new Honda jet or a Embraer 100 for the same money and 5 years free maintenance (absolute amateur comment, do not even think about it, the guy is nice but a complete mistake ) , real purchase of used jet no mater the size even a global jet like a Falcon Dassault can be purchase for less then a million. Before you purchase one you can see how to manage and lease it or contract it and even make a profit but do not listen to an orator than know less then a 5 years old , you have to know people in the business before trowing your self in that great adventure
BORGOGNON PASCAL 1 second ago you buy it $1 000 000. - minimum maintenance $700 000 a year for 5 year not cheap total $4 500 000 or you buy a new Honda jet or a Embraer 100 for the same money and 5 years free maintenance (absolute amateur comment, do not even think about it, the guy is nice but a complete mistake ) , real purchase of used jet no mater the size even a global jet like a Falcon Dassault can be purchase for less then a million. Before you purchase one you can see how to manage and lease it or contract it and even make a profit but do not listen to an orator than know less then a 5 years old , you have to know people in the business before trowing your self in that great adventure
y’all I’m 12 years old I have no clue why I’m watching this💀💀
lmao
Fr
I’m 13 and I’m watching this for future reference 😂
Manifestation! You guys will reach places for sure.. all the best
Come back in ten years when you’ve bought one
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.
“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.
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?
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
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.
Private jet gives you two great thrills in life.. One when you buy it.. Another when you sell it.
Just like a boat. Waiting on the 2nd best day. ⛵⚓😎
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
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 :)
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!
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.
I can only afford a c-152... Model airplane.
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.
Fun fact: eclipse 500 is used like a 172. It's normally a trainer jet.
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
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 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.
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.
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.
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.
I wanna have one
before 40s
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.
That was good mike, thank you!
Saw an Eclipse 500 for 375k like 10/12 months ago. Got scoffed up quickly.
My cucamber is target you
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
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 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.
Never buy, always charter...
But when you pull into Aspen you have to park in the "cheap seats" after passing the Gulfstreams owned by billionaires. Oh, the ignominy
All relative......
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.
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!!
Lear 24's must have the engines upgraded, or hushkits put on them before they are legal to fly in U.S. They originally came with very noisy turbojet engines. All of the "bargain" Lear 24's out there are out of compliance. I've been working around private jets for years, and I have never seen a up to date Lear 24 sell for less than $300-400k.
Exactly what I was thinking. I use to work at an airport in the 80s and the Lear 24 was super loud. It would cost a fortune to upgrade the engines, the price on this video is very misleading.
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 !!
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
Love & Appreciate Your informative & fun Videos! Also Your inviting welcoming nature Mike! You are an inspiring Being!
Blessings to You & all Your winged Followers :)
You can get a Citation X for $1 mil...
I`m a taildragger pilot but those Citation X jets are on my bucket list. (if I find a rich woman or win the lottery)
Greg Milner or invest in stock market
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.
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 $5-5.50 per mile when the HondaJet is less than half that!
finally it's not so expensive if you take into account all the instagram bitches you will get ^^'
Where we park these jets my house 🏠 is not to big for landing and takeoff any jets
I would love to have a Citation SII - Single Pilot, FL430 - 2400nm range....and some models are around 900k....
I have 10$ in my bank account, what is my choices?
7000 feet per minute! That's like 80 mph straight up. I can see my house from there!
They came out they nicknamed them the pocket rockets
It is not exactly 7000’ per min all the way to 55000’
It is without payload and empty wingtips tanks and perfect meteorological conditions
And it is the maximum
it go down as the plane is gaining altitude
But even under realistic conditions of payload it is around 5500 feet min
That is still very fast
Nice Math skills you nailed it
The jet isn’t even the most expensive part of owning a private jet. Maintenance, fuel and a heap of other assortments must be accounted for and it’ll definitely cost you up to or more than a million in the end
Not sure I’d want to fly in a $150,000 jet!
Me: *watches video about jets under 1 mil*
Also me: eating taco bell on my cheap couch
My mom can afford it but idk if my mom is the type of person to buy a jet my mom will say it’s too small
31a is a beautiful plane.
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.
No bathroom, no jet.
Takes more than than an airframe to be airworthy. I guess it's challenging to make a video that doesn't bore the layman with stuff like TBO and avionics...
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'll have to pick up one of these cheap planes for a weekend plane to keep at my beach house. I'm going to buy it up front with cash that I'm about to withdraw from my swedish bank account.
Hey can u donate me a 1000 or 400 bucks
I Can Buy This One..😊😊
No Issue..
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
Old planes like the ones mentioned in the video are cheap, okay. but the cost of maintaining them is much higher than newer ones (2008+), as well as fuel efficiency. Is there a possibility of upgrades? Yes. but that ends with the cheap jet offer, and when it sells, no one will want to know if you spent 1 million on upgrades on a 500k jet.
And the value of flight time for a cheap private plane tends to cost from $ 1000 to $ 5000. and depending on several factors, only 10% of this value will be fuel!
This is an awesome video! Can you do a similar video comparing single-engine turbo props (maybe dual-engine too). 👍👍
My bank account is $2 and I’m watching this
$1 Million bucks for plane theb another$500k for maintenance and pilots. Its only a deal if you can write it off in tax!
exactly
the plane the less of the problem here .....
The best answer so far? L39 Albatross or MS760 Paris Jet
Is it funny that Im watching this flying in my private bombadier 7500?
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 $852k on controller if you want to change from Citation 2.
Challengers are the ticket! At least you can stand up and enter without having to duck your head!
SpaXpert you can stand in a Gulfstream II also. The Gulfstream line is more popular though both are fairly comparable. Personally I like General Dynamics over Bombardier as a parent company but cost on a Challenger 600 & 601is sweet for what the plane is capable of.
Good one. Much appreciated!
The cost for a second pilot can be very affordable under the right circumstances. There are plenty of pilots out there desperate to build up hours, gain a type rating, or build up s resume towards their dream airline position.
I’ve seen students/graduates from my local College’s Bachelor of Aviation Technology program who would gladly work for minimum wage or free. They need a minimum of 420hrs in the air of formal work experience to graduate. Most of the students have no issues, since the school provides industry contacts and interviews. There‘s always a few who struggle for whatever reason though (probably below average interview skills/social skills). Dangle a new type rating plus time in the cockpit in front of them and they’ll come running. Lol
That Learjet 24 has me thinking long an hard now....
Me too.
The problem with the Lear 24 is it sucks out fuel like no other you should go for the Lear 31.
Don't even think about the 24.. Wil be spending twice more time in service and fuel pumps... Expensive to run is understatement
But it performs like a bat outta' hell!!!
But the 31A isn't THAT much more and is better all around.
Why am I watching this
I'm on the rich side of youtube again
😂😂😂
fuck off then broke bitch
the day i can afford to buy even the least expensive of these, i definitely will also afford whatever's cost of maintenance, so thanks foy your work love these videos keep it up!, the work, get your mind off the gutter
I have 150$
İf i were a rich I wouldnt risk my life flying with old aircrafts. I would prefer new aircrafts
the faa allows aircraft over 120 years old, you can fly the wright brothers plane and it would have the airworthy title
Your purchase prices are OK but you're completely off when you say they cost $1MM a year to own. That's way too much!
Nah...its actually just about a Million. Give or take.
those aircraft are chap because they're close to TBO, which means then engiens are about to give up and you'll have to change them.
the engines alone make about 70% of the whole price of a jet.
Buying jets in those price ranges will easily hit a million in the first year. First thing they’ll need after purchase is an overhaul. Once overhauled operation costs will drastically diminish.
Who would want to spend 500k-1m overhauling a 30-40 year old jet though? It doesn’t make sense since the interior will be dated requiring refit, avionics could be dated requiring refit, and the airframe could be near the end of its lifecycle due to hours/cycles. Old turbine/turboprop aircraft are like playing hot potato, don’t want to be the owner when its lifecycle expires.
5 Private Jets "ONE PERCENT" of the population Can Buy For Less Than $1,000,000. I fixed that headline for you.
that's a winner mike! keep up the goods. now make subsequent videos about maintenance hubs and compare them, storages etc.
If it flies, floats, or f**ks, then lease it! 😂
How i can reach to this number with 48$ in my pocket 😂😂
Sell your arse
You have made a video on how cheap the jets are, that's good. You have not included why they are so cheap, the number of hours the engine has, the next overhaull, next annual, what is needed is it airworthy or is that expired, is the an a slow issue with the engine which could mean a new jet engine which don't come cheap. When an aircraft is cheap it's not a great deal your getting, it could cost more than you expected. These factors are not including hangarage and maintenance. these are factors why a plane is so cheap, you should include that.
Pretty sure he just meant that this is the price if you want to use it for a huge paper weight.
Actually, the presentation says on several occasions: be aware of ancillary cost! The commentator mentions that right out of the box with the M2. 0.32 Keep in mind to own any of these jets....you will need just as much in maintenance cost, ect. You really should listen.
This is video for enthusiasts, prob not for someone really considering buying a plane. You have a captive audience, if you're lucky, for about 8-10 minutes on YT... video is short sweet and to the point, but, you do have a point. im sure none of these jets have less that 10K hours or less than 7K TOAL
Yep engine hours between overhauls is the deal killer if you wonder how much the Hamburger cost. If not a 5-7M HondaJet then $500K/engine - 2,000 hours * 2 = $500/hour, add fuel at $2,500/hour, add extra pilot at 200/hr, Insurance $150/hour, misc other - $100/hr = $3,450. NetJets is a bit more per hour?
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.
Oh these things are pretty cheap i expected it to be atleast 20 million
Im not rich btw
*445T H C O M M E N T*
Forgot to include embraer phenom 100E
Wouldn’t think about a 30 year airplane even if i had the money. Metal fatigue risks
little metal in that plane except for the gear and other parts. The carbon fiberglass may stay safer longer than aluminum. I could be wrong.
is this hannibal burris narrating?
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
Put me in 1st Class, commercial any day, for cost of flying and maintaining a private jet... Even if I could afford it. Waste of money.
I'd pay 200k for a jet plane, how much cargo will it carry? I need a space for my motorcycle
Lol you'd probably need a Pilatus PC-12 for that.
Great idea, what is it's range? Will it go from say Hong Kong or Tokyo to Manila on a tank of fuel?
Some Gulfstream III’s run for $900k
Yep....and you would burn another $900k in the first year fiddling with the maintenance of an old, high-time aircraft that burns a huge amount of fuel. A GIII is expensive if you got it for free.
JetNmyFuture Yeah true. But pretty much any jet for free would be super expensive. Cause if you get one you’ll have to pay a minimum of $400k for maintenance, even for ones showed in the video.
What's going on in AZ? A quarter of the population of California, but has almost 5 times the number of new registered voters? Where are all these "voters" coming from? Everyone knows without AZ, the GOP candidate has a very difficult path to victory.
If you are watching this video you can’t afford this. Just get something under 100K and fly yourself.
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.
1. Cessna Citation Mustang. Cruise 400mph. Range 1000 miles.
2. Eclipse 500 $500k-700k. Cruise. 400mph Range ---
3. Cessna Citation Bravo. Cruise 450mph, ceiling 45,000ft. Range 1720 miles. Fuel Burn: 170 gph
4. Learjet 31A. $400k Cruise 500mph, 51,000ft. 1,877 mi (3,021 km, 1,631 nmi) (Standard fuel, four passengers,)
Rate of climb: 5,480 ft/min (27.8 m/s)
5. Learjet model 24. $120k-300k. Cruise 500+mph Range 850miles
The problem is the $1m/year running cost, not even the initial purchase.
The Lear 31 needs two pilots though, right?
Oh yeah just buy a jet *JUST Under A $1,000,000*
Sir you have Cessna caravan? I have a buyer waiting. Plz reply me
You talk about $1,000,000 in maintenance and then show a two man cockpit for the 31. Add pilot salaries to those numbers as well. In summation if you can TRULY afford a biz jet, then your corporation has the finances/credit to buy much newer.
Today is your lucky day gents. You can now afford new jets not used junk. The winning usa powerball numbers are 6,22,37,62,63 and 19 You're welcome
You're always talking about american made jets what about other countries jets like Germany Switzerland, or Canada?? I wish you would make videos about these jets from other countries thanks in advance
I was searching cheapest jets... With having bank account of 15000.. why TH-cam show me this
BORGOGNON PASCAL
1 second ago
you buy it $1 000 000. - minimum maintenance $700 000 a year for 5 year not cheap total $4 500 000 or you buy a new Honda jet or a Embraer 100 for the same money and 5 years free maintenance (absolute amateur comment, do not even think about it, the guy is nice but a complete mistake ) , real purchase of used jet no mater the size even a global jet like a Falcon Dassault can be purchase for less then a million. Before you purchase one you can see how to manage and lease it or contract it and even make a profit but do not listen to an orator than know less then a 5 years old , you have to know people in the business before trowing your self in that great adventure
BORGOGNON PASCAL
1 second ago
you buy it $1 000 000. - minimum maintenance $700 000 a year for 5 year not cheap total $4 500 000 or you buy a new Honda jet or a Embraer 100 for the same money and 5 years free maintenance (absolute amateur comment, do not even think about it, the guy is nice but a complete mistake ) , real purchase of used jet no mater the size even a global jet like a Falcon Dassault can be purchase for less then a million. Before you purchase one you can see how to manage and lease it or contract it and even make a profit but do not listen to an orator than know less then a 5 years old , you have to know people in the business before trowing your self in that great adventure