The down side of pay-as-you-go

LettersFromFlyoverCountry · #1 08-06-2008, 05:09 PM

As many of you know, I'm a proud pay-as-yo-go-er when it comes to RV building. Today, however, I have to write a big check on an account with few zeroes in it. It's time to buy the engine. Well, I actually bought it months ago, but now I have to pay for it. It's ready to be shipped.

I suppose for most builders, by the time this day comes around, you're used to writing checks on loans and home equity. But this is one of those days -- nights? -- when I start to wonder whether I can really afford this thing?

I'll just tell myself airplanes appreciate in value and I'm just transferring the money from one account to the other. Yeah, that's the ticket.

rv9aviator · #2 08-06-2008, 05:46 PM

I was dreading that same expense as one of the single most costly aspects of building my RV-9. With the help of a fellow RVer and being able to buy an engine from a friend who had an accident with his Cherokee I am now past that with an all but newly majored engine in the garage. It is a really good feeling knowing everything up to this point is paid for. It is also a big motivator walking by that engine sitting there waiting to be hung on my very own RV.
Hang in there Bob, It will feel good when it quits hurting.

rv9builder · #3 08-06-2008, 05:49 PM

Congratulations, Bob! It won't hurt nearly as much after it's flying!

ChiefPilot · #4 08-06-2008, 06:17 PM

I'm in the same boat, except perhaps 6-8 weeks behind (my engine/prop won't show up until then). I owe nothing for my project, and strongly believe that the pay-as-you-go idea is the right way for me. Still, this was far and away the most expensive Osh trip for me ever - it's usually only hundreds of dollars, not tens of thousands

.

I like the "transfer it to another account" idea. I think if I repeat it enough, it won't feel so bad....

JHines · #5 08-06-2008, 06:22 PM

I console myself with the knowledge that there is a ready market for these items, and if the excrement hits the impeller, an engine, etc. could be posted on the VAF classifieds and probably off to a new home in a couple of days.

szicree · #6 08-06-2008, 06:26 PM

It is an awful big check, isn't it? I wrote mine a year ago and I still think of it from time to time. As others have said, it's not really like the money is gone, just in a different form. I figure I could sell that motor tomorrow for nearly what I paid (I think).

cyberpilot10 · #7 08-06-2008, 06:33 PM

Bob just be thankfull that you had the funds.... I have been saving for this for a long time. I have a wife and 2 young children, My $42,000.00 for my RV8
Is now a 14X30 Swimming Pool with a full screen encloser. I quess I have to give a little to get a little if you know what I mean.... I would sure love to trade this swimming pool for an RV8 If anyone is interested.... Shipping might be a problem....

Geico266 · #8 08-06-2008, 07:30 PM

Quote:

Originally Posted by Bob Collins

.....But this is one of those days -- nights? -- when I start to wonder whether I can really afford this thing?

Is this another one of your reverse psychology threads?

You only live once Bob. In a few years you'll be in a rocking chair asking yourself why you didn't fly more when you could. I fully intend to burn up my kids inheritance in 100LL, and if you don't start drilling it will be sooner rather than later.

apatti · #9 08-06-2008, 07:39 PM

Bob,

I am in exactly the same boat. Been paying as I go... $2K here, $6K there, another $6K... Today I got the email that my engine had tested and is ready to ship. I am going to the bank tomorrow to do the wire transfer. I have had the money socked away for three or four years now. But, it still causes one to pause. When we look at the pieces we create/buy the value is hard to see. The "value" for our dollars/sweat will be realized when those pieces come together to make a flying machine. It is the old "whole is greater than the sum of its parts" thing.

When my engine arrives I expect to open the box and think that for what is in this box I could have almost had a swimming pool

(heat index has been near 110 here for the past couple of days so I've been thinking about swimming pools a lot). But, in the back of my mind I know it is another big step on the journey. Next will be a couple of big avionics checks. After that it will be back to $4K here, $6K there, $2K over there...

cyberpilot10 · #10 08-06-2008, 08:01 PM

I quess when I get hot in the shop bucking rivets on the emp. and can always go fly the pool and cool off....... 108 degrees in the shop today!!!!!!! I love my steel building,, I love my steel building,,, I love my steel building