@LeadSled
I don't recall if you mentioned where you are, geographically, but go have a look at the nearest RAOz schools, sadly these days for GA, they are often the more active, vibrant and generally just fun places to be, like aero clubs of the "good old days".
Will do. It seems that flight time is also transferable so I might just get my PPL and then fly ROAz if that's where the fun is these days.
A final piece of advice, as you are starting to sound like you have already subconsciously made up your mind to buy an aircraft, re-read all the advice as to why you shouldn't, and if you do, keep the aircraft for your own use, forget the blandishments about how you can defray/minimise costs by hiring to a club or school.
Over the last few days I've been knocking on a few doors and stalking a few people to get answers and estimates. I am actually a little less keen to buy to be honest.
It seems that budgeting for variable costs of engine overhaul, and for the 50 and 100 hourly maintenances will most probably at best equate any earnings made from the leaseback. Numbers I obtained are the following (corrections welcome):
Insurance: 5% of buy price per annum
Engine overhaul (2000 hours): A$ 45,000
50 hourly: A$ 3,000 and north of that if any significant repair is needed
100 hourly but at least once every 12 months: A$ 6,000 (not entirely sure if that can be done together with the 50 hourly. If you fly, say, 100 hours/year, do you still need another inspection?)
Parking: A$ 2,500 to A$ 3,500 yearly at an expensive airport like Moorabbin
Fuel: A$ 60/hour, at an approx. AVGAS price of A$ 2/L and 30 L/h consumption.
Current dual rates on a Warrior are in the A$ 360 - A$ 400 range, of which around A$ 100 goes to the instructor. The question now is whether the rest should first cover the costs with any potential profit to be split between the school and the owner, or if the school takes a cut first and leaves all costs at the owner's sole expense. I'll assume the worst case which is the former with a ratio of 85% (owner) – 15% (school). Obviously I also expect some fine printed CASA fees to ice that cake.
Assuming some flight time numbers, eg. 100 yearly of own flight time and perhaps some 5-6 hours weekly for the school, this adds up to roughly 350-400 hours yearly.
Additionally, let's take a Cessna 172 RG selling at A$ 90,000.
If you do the maths, in the scenario where all costs are the owner's expense the running costs for one year would be of A$ 87,500, and earnings from the school would amount to A$ 70,125 which results in a loss of A$ 16,875.
In the second case, the loss would be of only A$ 4,500, with no profit for the school (you may also argue, at no expense/investment either).
In conclusion, assuming that these figures are somewhat realistic, I'd expect a real life agreement to fall somewhere in the middle, that is, perhaps between breaking even and a loss of A$ 20,000.
Now that's including 100 hours of flight time. Therefore we're talking about a rate of up to A$ 200/hour for owning instead of A$ 300 for renting.
Any thoughts?
* I should add, I'm very grateful for the wealth of experience that all the users bring to that forum and for the interest taken in this thread.