loan for FI rating?

[franksnbeans]

allo allo allo,

I'm a 20 y/o (about to turn 21) CPL with about 220 hrs TT, 15 hrs multi command (PN68, BE95) and a multi NVFR. I'm also in my final semester of a degree.

Originally, my plan was to do my instructor rating in mid September this year. However, I will have to get a loan out in order to complete it. I have been warned about getting a loan this size by a few people, and it makes sense too, because realistically, I won't be able to service the loan on next to no income in the first few months of instructing, so I'm having second thoughts about it.

I have been thinking lately about getting a jump pilot job with a company nearby. I have no time in a 182, and was thinking of getting an endorsement in a C210 (i found one in Melb.!!), because that would cover me in the 206, and 182.

My question is this....

Should I take a loan out for 10k and do the instructor rating, or should I do the endorsement in the 210, build some time up in a 182 (i've found one of those in melb too!) and try for the weekend sky diving job. If I did the later, I could keep working and save up, whilst flying on the weekends and do either my instructr rating a year later, or my IFR stuff instead.......

any suggestions or comments would be apprieciated, and advice on what to look out for in getting conned into buying an instructor rating/dodgy jump operators..

cheers

fnb

[High Altitude]

The question that you have to ask yourself is:-

Do you want to be an instructor?

Getting a loan you would have to put up security. Are you prepared to have that security repossessed if it all goes pear shaped?

Me tinks not as you are already looking at other possibilities. Sky diving is a great way to build hours just be careful how you go about it.

[Arm out the window]

10 grand sounds like a lot of money, depending on your financial position and outlook.
Still, that doesn't stop silly ******s shelling out 3 times as much for a ute that looks good but does basically the same job as the secondhand bomb that you get for 5000.
Yes, of course you need to be able to service the loan, but honestly, if you want to be an instructor and it's a step along the way in your aviation career, why not?
Have you got other work options you can fall back on while trying to crack an instructing job?
Jump flying as I understand the scheme of things pays ****** all, so perhaps your day job will have to support your loan repayments as you look for flying work that pays regularly enough to take over the burden.

[victor two]

I suggest that you wander out and take whatever hours you can get through the skydivers in their 182. Leave the loan and the instructor rating for a bit later if you decide that itr's best to go that way. My reasoning is that you will start building on those hours slowly in the skydiving world and it might just lead you to getting a charter job somewhere without having to spend the dollars at all. You are young and have plenty of time so be patient and start clocking a few hours in the old 182 and you will be on your way. Likewise, do the C210 training later if you need to. A C210 endorsement can be done in a half day and it will be lots easier with some 182 time behind you anyway. Should you go jumping, be prepared to have a bunch of skydivers tell you everything they know about pilots and aviation in general. Skydivers are an interesting bunch and generally consider themselves to be experts in all aspects of flying, meteorology, navigation and have an bottomless pool of weird advice for new pilots. Nod politely and look interested. You will have fun flying jumpers and learn all about CofG effects and the climb performance of a 182 but do keep your eye out for something better. Get out there and have a look and see if you like it anyway. Good luck.

[franksnbeans]

gday HA,

thankyou for your reply.

I believe that the rules may be changing in regards to a charter company being viewed the same as an RPT operation, therefore requiring a check and training department. In this case, perhaps an instructor rating may prove benificial.

Sky diving looks like fun, and like you say, it is a good way to build hours.

In any case, I know that i do want to be an instructor. I will get a lot out of it, and i think that i have a lot to give. I am only looking at other possibilities to keep my options open i guess, trying to look at it from another angle. I am at the stage now where i have the opportunity to chose a path, and I'm really thinking hard about it.

I'm not too keen on getting a loan out, but at the moment I have a job that pays pretty well for what it is. I am sure that I will be able to keep a few shifts a week there whilst working as an instructor. I think that getting the loan is the only way I will be able to afford to do the rating this september. The other option is to bump back the instructor rating for another year until i can afford it - which i don't really want to do!


fnb

[FFG 02]

franksnbeans,

Check ur pm's

[franksnbeans]

Hey guys,

Thanks very much for the advice.

V2 and Arm OTW, we must have posted at the same time, so I apologise for not addressing you both in my previous post.

V2, you are right, I am young. But I do want to be an instructor. I could wait until August next year to do my rating, that way I would be ready to take on students at the end of Sept. – just when it starts to get a bit busier, and earn some dosh and fly the 182 in the mean time on the weekends.

AOTW, the flying school I’ve done my training with would give me a go online, I am sure (even though I have $$$ signs on my head at the moment!), and I will have a job to service the loan, it’s just the fact that I don’t want to take out a loan if I don’t have to. I am still young, and building up some time in a 182 won’t do me any harm while I save up bucket loads of money by working during the week!

I have also spoken to some of my old instructors who are in various GA jobs (getting better than award!), and they have given me some valuable advice too. The only thing I was concerned about was letting my age get the better of me. But if I wait until next August to do the instructor rating, I will only be 22, with a degree and about 400 hrs TT, which is far from the end of the world. I may even be able to knock off a few ATPLs during that inbetween time too.

Thanks again,

fnb

[Ang737]

fnb

22yo, with a degree and about 400 hrs TT, which is far from the end of the world. I may even be able to knock off a few ATPLs during that inbetween time too.

Your in better shape than most mate...

Ang ;)