late4my8

late4my8

Member
Hello all. it's great to be here.

I'm actually an RV8 dreamer. ...an aerospace engineer with a life-long interest in aviation who married a girl from Wisconsin (drivable with the in-law's car to airventure!). I feel like I won the lottery. 2 years married, 2 trips to airventure. needless to say it didn't take long to get hooked on RVs.

which gets to my first ever VAF question. I hope this is not too personal... How do folks generally find the money to get started? I know stories will run the gamut, but what percentage of folks finance their RV? refinance the house? ...wait to save up the dough? I'm guessing a couple of years of payments to a traditional lender would be brutal while grounded by the build cycle.

should I just to the responsible thing and wait for a few years for my investments to mature? ...that doesn't sound like too much fun. I guess in the mean time I can work on my paint scheme.

thanks for any advice with getting my FIRST RV flying.

scratching my head,
john
 
John,

It does not cost that much to get started... $55 bucks for the preview plans.

Now after that it aint that bad for the emp kit and some tools. $2000 will get you started. Of course you will need more tools as time goes by but hey every man likes tools.

The cost for the airframe seems to be doable for most people as you don't need everything at once and you can spread the cost out over the build cycle of ~4 to ?? years.

I had no money for this project when I started it in 2001, it now looks like I will pull off cash only on the airframe but I must confess that the engine, avionics and FWF is not going to work out that way.

Best thing is get them preview plans, visit some local builders, and talk to everyone you can find with RV experience to see if this is trully for you and if so, take the plunge and order the emp. After all if you find you don't like it, you can sell it for close to what you have in it less labor.

There are those here that have what seems to be millions in disposable cash and then there are some here that like me scrape for every airplane dollar they can find. It can be done by the later, people do it every day.

Good luck!
 
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#1 rule: Think Positive

Ok, so I'm taking this from Rich Dad, Poor Dad.

Always think in terms of "How can I afford this" instead of "I can't afford this."

Along those same lines..."How can I find the time to build this thing" instead of "I'll never have the time to build this thing."

Positive thinking alone opens lots and lots of doors.

Building costs more than just money. Think positively about all the challenges as they arise. Based on how you posed the question starting this thread, I'd say you're on the right track.

Also, be sure to check VAF Classifieds multiple times a day for excellent deals. Landing gear, engines, avionics, and tooooooools are on there all the time. Occasionally you'll find entire kits at a discount too!

Preview plans are cheap, epanelbuilder is free, and microsoft paint will let you paint your plane over and over again for free.
 
Thanks all

I just ordered my preview plans.

...the empenage will follow thereafter. as long as I make my peace with the build process stretching a bit, I know i'll be able to make it work.

Thanks all.

-john
 
A good addict will always be able to scrape up enough money for the next "hit".
Worked for me, anyway.
 
Just start - and go as slow or fast as you need

I decided to just get on with it. As with everything else I've ever been involved with, somehow I find a way, and will continue to do so.

So far it is all out of pocket and being done one kit at a time. That process with continue until I need the big chunk for the engine and then property equity will probably come into play. I think I can handle the rest. Of course, I still need to get my PPL too! Freight costs to NZ also have a larger effect when ordering piece by piece, but for me its either do it this way or not at all.

It may take longer than the 2-3 years I often see people talking about here on the forums. I anticipated five years and here I am nearly two years down and still anticipating five years! No matter, one day I'll have my own RV-8, just the way I want it, and almost all paid up (engine notwithstanding).

That will truly be a day of days...
 
me too

I fall into the "unsure how I am paying for this" category. So far I have my tail done and the wings are about 70% done. I have about half of my fuselage money so I need a little windfall, but I'm sure it will show up. I set myself up on a monthly budget that allows a lump to go into a separate "airplane fund" and it just builds over time.
Like someone said in this thread, keep it positive and it'll work out.
 
late4my8 said:
should I just to the responsible thing and wait for a few years for my investments to mature? ...that doesn't sound like too much fun. I guess in the mean time I can work on my paint scheme.
Click to expand...
It is easy to fall into the trap of telling yourself "This isn't the right time to start building, but things will be perfect as soon as X happens." The problem is that once X happens, you see another problem, Y, so you decide to wait until you have resolved problem Y. In my case, this went on for five years, then I finally realized that the perfect time never arrives. You just have to bit the bullet and start, and **** the torpedos.
 
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When is the best time to plant a tree?
50 years ago :)
When is the best time to start building a RV?
Five years before you want to fly one...
Don't worry about the money as you will figure out a way to get it. I have become a pretty good bank robber...er.....um.....pretty good financial manager since the project began.
Don
 
:D we will post a emp kit in the near future for a friend's estate sale e-mail me if you think you are ready for the next step
 
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