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  #1  
Old 08-24-2012, 08:22 AM
ty1295 ty1295 is offline
 
Join Date: Aug 2011
Location: Jeffersonville, IN
Posts: 500
Default How do you fund your RV Project?

Curious today as to how others have funded their project.

I make good money, glad I went to college and its paying off. As with everybody you never make enough for all the toys you want as quick as you want.

Fairly new to aviation hobby, but been building and working on cars for years. I've made a fair amount of cash on the side doing side work, fabrication, design, manufacturing of items for cars in the past. Probably be doing similar to build my RV.

Wondering what others have done?

Coffee cup on the street corner?
Adult favors?
Donate plasma?
Grown goofy plants in your basement?
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Jeff Scott
RV9A First Flight 9/30/19
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  #2  
Old 08-24-2012, 08:31 AM
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sbalmos sbalmos is offline
 
Join Date: Oct 2011
Location: Liberty Twp, OH
Posts: 680
Default

The old-fashioned way... Single, rich (relatively), and living quite below my means. No debt, save for the condo mortgage, and I'm just really good at a high-paying job (software design). And it's all through hard work. No inheritance from the parents or anything like that. Even with retirement investment and such, I'll have my -9a paid off at the same time that I finish building, in roughly 3-4 years.

... and that's about the most gloating you'll ever get out of me. I'm honestly very sheepish and humble about saying that my life's accomplishments have gotten me to this point.
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Scott Balmos - RV-9A N112SB
Cincinnati, OH, KHAO
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  #3  
Old 08-24-2012, 08:32 AM
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RV6_flyer RV6_flyer is offline
 
Join Date: Jan 2005
Location: NC25
Posts: 3,762
Default

I started building in 1988. First flight 1997.

I asked myself, if someone GAVE ME the airplane I wanted, how much could I afford to fly it? Back in 1988, that answer was $75 per week out of my weekly paycheck. I set up automatic deposits into an account at my Credit Union. In September 1997 when I made my first flight, the airplane I wanted was in my hangar and paid for.
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Gary A. Sobek
NC25 RV-6
Flying
3,400+ hours
Where is N157GS
Building RV-8 S/N: 80012

To most people, the sky is the limit.
To those who love aviation, the sky is home.
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  #4  
Old 08-24-2012, 08:56 AM
WingsOnWheels WingsOnWheels is offline
 
Join Date: Mar 2009
Location: Plano, TX
Posts: 2,240
Default

I am also on the pay as you go route. It was much easier back when my wife and I were dual-income, no kids. Now that we are single-income with a kid it is much more diffucult to find extra airplane funds. I have most everything to finish the plane, but that last 7-8K + training I have to go will hold me up for a bit. Well worth it though.
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Colin P.
RV-6A #20603
Complete 5/10/19
PP SEL / A&P
I donate every year on my B-Day (in Dec), but donated early in Sep'19.
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  #5  
Old 08-24-2012, 09:26 AM
2bolts 2bolts is offline
 
Join Date: Jul 2012
Location: San Antonio, TX
Posts: 120
Default Work

Mine is a pay as you go. Funded through working, at a small printing company, and will end up selling my English Cobra 289 kit to help. I made most of my money back in England creating software installations. I'm the sole wage earner, which means that it'll just take a little longer, that's all ;-D
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Roger
A Brit in Texas
RV8 N886LH (Reserved) BuNo 83320
Collecting books/info/tools.
Tail kit arrived! 9/30/2012
Construction started

"The engine's overheating, and so am I! Either we stand down, or blow up! Now which do you want?" Sqn Ldr Canfield.

Last edited by 2bolts : 08-24-2012 at 09:30 AM.
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  #6  
Old 08-24-2012, 09:31 AM
rhill rhill is offline
 
Join Date: Feb 2006
Location: Valley Forge, Pa
Posts: 663
Default Same way you eat an elaphant!

One bite at a time. start with EAA bench,Tools & Tail kit,an air compressor,go from there.If you have the money buy quick build this will save you years off the build.If you have time slow build one kit at a time.Want to save on both?Buy someones project,second owners have a higher rate of completion then first time kit builders.Do something everyday to move the project ahead,don't over think the money,just build the plane.For me Money is tight but a small issue compared to time,family commitments.
Bob
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  #7  
Old 08-24-2012, 09:48 AM
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bruceh bruceh is offline
 
Join Date: Mar 2008
Location: Ramona, CA
Posts: 2,509
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I'm using my kids college funds

I put aside 10% of my income in my company's stock purchase plan over the last 20 years. Had some really good times and some really bad times in the market, but overall I've made money. Bought a lot of cool stuff with the money - cars, ATV's, motorhome, home improvements, and now an airplane. Still had enough saved to put my kids through college (1 down, 2 to go). So far we haven't had to dip into those funds to pay the tuition, since my wife's paycheck covers the school expenses and we basically live off of my income.

I have no debt other than my mortgage (which we just refinanced again at a much lower rate). I will have to dip into the college funds to buy my engine, but the plane will be completely paid for when I am completed and flying.

Moral of the story - save, save, save, invest, invest, invest.
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Bruce Hill
RV-9A N5771H flown over 900 hours!
http://www.overthehills.com/RV-9A-Project
APRS Tracking for KJ6YRP and Flying Over the Hills Blog
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EAA Tech Counselor, Pre Buys, Build assistance - canopy/tanks/fiberglass/electrical/repairs
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  #8  
Old 08-24-2012, 09:54 AM
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Vlad Vlad is offline
 
Join Date: Oct 2008
Location: Utah
Posts: 8,440
Default

Quote:
Originally Posted by ty1295 View Post


........


I make good money,


......



I've made a fair amount of cash

......

That's danger right there Jeff you might have too many temptations.

I still cannot believe how I built this thing on average paycheck without any credit history
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Не имей сто рублей, а имей сто друзей.
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  #9  
Old 08-24-2012, 09:57 AM
ty1295 ty1295 is offline
 
Join Date: Aug 2011
Location: Jeffersonville, IN
Posts: 500
Default

I guess my post came out a bit off. I have no problem taking it one step at a time, already have the tail. The tools in my garage would probably make a few builders drool, although they are overkill. (Bridgeport Mill, 14" Lathe, tig, mig, plasma cutter, sandblast, powdercoating over, tubing bender, etc.)

I've been down this road in my car projects more than once.

Just curious of some of the alternative ways others have done to fund it, and in that matter some of the unusual workshops people have used. (basement, condos, car trunks, etc.)
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RV9A First Flight 9/30/19
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  #10  
Old 08-24-2012, 10:25 AM
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LettersFromFlyoverCountry LettersFromFlyoverCountry is offline
 
Join Date: Jan 2005
Location: St. Paul, MN.
Posts: 4,826
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Repeating an oft-told story. I too was pay as you go (until engine, that had to go on a home equity; fortunately, I didn't sell my house every five years to move into bigger and bigger housesand have almost paid off the mortgage).

I delivered newspapers every morning for 10 years to raise money for the project. 7 days a week. In all weather. At 2:30 in the morning. Then I'd come home, sleep for an hour, and go work an 8 hour day.

In the latter stages of the project, I pulled out the cable TV/DISH. It was mostly junk and I got a lot more work on the plane done. I didn't waste money on booze and cheap women. My only vice was an airplane project.

And, most important, I came to be comfortable with the notion that there were people who were going to have nicer panels, better paint jobs, and bigger crowds around their plane at Oshkosh.

Once you accept that, you can save a heck of a lot of money.

As for future funding, I'm going to attend a lot of fly ins and sell the space on each side of my plane to other RVers who want their planes to look better than they really are.
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Bob Collins
St. Paul, MN.
Blog: Letters From Flyover Country
RV-12iS Powerplant kit
N612EF Builder log (EAA Builder log)
Last article: "Gonna Finish This Sucker" (Kitplanes)
Waiting for the avionics kit (backordered: chip shortage)
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