I'll give you a quick breakdown for my 1975 Beechcraft Sierra. Insurance 2,100 (63k hull value), Hangar 540 per month (KISM), Annual this year 3k, Subscription to garmin/foreflight 700, I did just over 100 hrs and I would say it was 4 to 6 bucks a gallon and I burn 9gph.

my sr-20 insurance covering everything just went down to $2600. ive estimated my hourly cost to be around $190 a hr for my g1. including purchase ive got at least $ 260,000 in my first year of ownership. excited to see how much the second year will be less

A wise and deserving fellow. I recall the vid when you showed the world this bird. A very proud moment for you and it showed. Heck, even though I don't know you beyond your channel, I was proud of your accomplishments. WTG Mojo! I'm a simple RC pilot who was saving for an ultralite single seater. But, being married and knowing the wife would have never gone up with me even if I had purchased a 2 place, I chickened out and went RC. But, I still learn loads from this man! ALL THE BEST!

Glad to see it all working out as planned. Been watching on and off for a while. Thanks for the videos.

Very proud of what you have done with your channel and your other business ventures! Great job Mike!

Awesome content as always Mike! Thank you for the breakdown in costs; I can definitely see the value in a newer aircraft that's more expensive to acquire but less to maintain, vs. an older aircraft that is relatively affordable to acquire, but prohibitively expensive to maintain. I wonder if you might do a video like this, but regarding the costs and what to expect regarding flight training. For me, I cannot even begin to think about aircraft ownership, as I am still trying to figure out how I'm going to pay for flight school. Again though, thank you for the content; keep em coming!

I am new to flying (student pilot) and very much appreciate your videos. Thank You for sharing.

Great content Mike - really good to see someone keeping it real about personal aviation! Best of luck for 2023!

100 hrs yr =192hr Rough estimate per year cost... 200 hrs yr=125hr 300 hrs yr=102hr 400hrs yr =90hr If you have a use for flying more hours per year the per hr cost drops a fair amount, although the yearly totals go up of course. This is all costs, fuel etc

The insurance cost surprises me. That number will vary with the pilot. Haul value is high on your plane. A Piper Warrior worth 70-90,000 would probably be less than half the cost per year. But flying a new modern airplane with great performance has value, so it's a trade off.

Mike…..excellent well explained real life scoop. God Bless sir. 🇺🇸

Thank you for the video.

Thanks Mike for info 👍

Hey, love your videos. You forgot to account for one of the biggest expenses-- the time value of money / opportunity cost if you own it outright or the financing costs.

Thanks for sharing this breakdown. I'm approaching 150 hrs on my Sling TSi. The cost breakdown is a bit lower for me in the UK as the insurance is a lot lower. My first year costs so far are annual insurance was £2500, Hangarage was £180 per month, Subscriptions was £750 and annual maintenance including the 50 hr & 100 hr service was £850. Miscellaneous was £350. I'm not including fuel as we've mostly flown low and slow due to airspace restrictions, so my average fuel burn has been quite low at around 19L/hr. So my total hourly cost based on 120hrs of actual usage after 30 hrs of ground & flight testing is 6610/120 = £55/hr. Including fuel its likely to be around £95/hr.

Awesome and thank you for explaining the cost. I will contact you shortly

Hey Mojo, great content. I've been a follower for a while and enjoy your content. Keep it up. Quick question for you. In you're breakdown, you mention the cost for having an AME do the annual. My understanding is that most people build experimental planes so they can perform the annual themselves (large reoccurring cost savings). Am i mistaken there or could you have done it yourself and just chose not to?

Insurance cost also surprises me as well. I have a 1981 warrior with a hull coverage value of 80k. I’m a student pilot with about 120 hours and my annual insurance cost is about $1100. I’m also lucky as my hanger rent is only $81/month

Very revealing and interesting numbers. Always looking forward to having new videos from you. Great job, Mike!!!

The one thing I noticed that was not included is engine reserve for replace when you reach TBO.

My experience is that Dr Thompson's rule of Pi applies to aircraft ownership and to any maintenance project on an airplane. For any cost estimate on an aircraft multiply by Pi for any time estimate to complete a project multiply by Pi SQ.

Very Nice Bro! Get Good People/Pilots!

Great stuff

Hello Captain Mike, Thx for such of neat breakdown numbers that explain everything in details,,I'll recommed you to consider sell 3/4 share to 3 responsible pilots, that will bring your cost down to $4900/yrs which is way more affordable,,,

Proud of you. Live the dream mate.

Hey dude! Im so happy to find a black pilot on my journey into aviation youtube, i want to be a pilot myself and have hundreds of hours in the simulator already but i just dont have alot of money to get into flying so i just live vicariously thtough pilot vids 😅

Great video as usual.

Thanks Mike.

So many variances that this presentation that it boils down to a look-back of what it cost YOU to operate that airplane for the past year. Given what you had to pay for insurance over what I would pay for same aircraft? A savings of $61 less per hour. Also left out are payments of any liens (loans) on that airplane, which would also affects per-hour cost. Using that Piper Cherokee as an example of buying an older airplane. Was the wing spar issue a factor in the upcoming maintenance/annual inspection price? I bet it was. And, sounds like the buyer didn't mind buying an airplane that had a short time left on the engine, which is also the reason he got a low purchase price. I own (outright) a 1975 Bellanca Decathlon. I own my hangar, but pay $100/mo for condo fees, plus an average of $4/mo for electricity. I'm 1250hrs out from Time Between Overhaul (TBO) on the engine. I've owned it since September of 2021 - a gift to myself for an upcoming retirement (Jan '22). Sep-'21 to Sep-'22, operating cost @ 25-hours: $128/hr, no fuel. Rent one - if you can find one - north of $200/hr. Bottom line: These are per-hour operating cost look-backs, and may provide very-rough anticipated look-aheads.

Also should save each hour some money for future engine renewal.

good day mojo. I need your help with something. I want to make the same revelaero voodoo plane. or for 2 and 4 persons. 420 mph top speed. 1000km range. Can I buy parts of the plane and have it built? or bristel-tarragon. Can I get it done by airline companies like jmb? Thank you.

So the TSI has 4 seats? Is the sling 4 just bigger??

You are an inspiración amigo

Did you finance your sling purchase or is it paid off? Just wondering because you didn’t include any kind of finance payment in your yearly breakdown.

And I was complaining about 1700 a year for insurance and 250 a month for hangar for my rv6

What is the insurance rate for 2022-2023? I was expecting something like 3000-3500. Seeing over double that is shocking compared to an RV-10.

Idk if it's the same in Europe cuz that's almost the average yearly salary were i Live

Those insurance rates are nuts...is it because it is experimental?

So you paid cash for the plane? No note payment?

Does the Sling TSI work on Avgas only? Or is there an option for car fuel engines?

Where do loan payments fit into that breakdown?

If it flies floats of F**ks rent it.

good day mojo. lancair 4-p. cruise speed is 335 mph. range 1200 miles. It says 250-500,000 dollars. is it correct.? 0 km. This plane is parachute. Can I have it for $250,000? Thank you.

What percentage does this represent of income from your business

Hello...my question isn't related to aeroplanes though, why do you have Nigerian and South African flags on your plane?

Appreciate your info, i am a fan, is that a piercing on you nose?

You got yourself a beautiful machine, sir.

Sounds like it really does not pay buying an older plane for less money, when you know it's much more likely it will break down on you, possibly in flight if not certainly on the ground it'll cost much more maintenance. A lot more worries you're buying with that lower cost airplane. Always nice if you can afford it!

Damm that’s very pricey per month.

Interesting, though too all those people who say owning a plane isnt only for the rich, you lie. I have been saying this is one of the biggest drivers in the aviation industry failing. I will also state I would own an aircraft if I could...I would love to be a CFI, but no way I could step into that.

Sense most people aren’t well off like u, I have the answer for wanting to fly and spend less than $3k a year! It’s called Paramotoring 🎉🎉😮😊

Please translate the videos into Arabic, there is someone who wants to listen

It tes

Educated Vote is more important than just voting on feeling!