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Buying and renting a 172?
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Just a general question, Iโ€™m a PPL, and someone at work mentioned that I should buy a plane and rent it out to others. I do like flying but the buying process I quite literally have zero knowledge on. I know modern 172โ€™s are pretty pricey and the ones I rent are from the 70s or 80s so how pricey would an old 172 be?

On top of that, is it theoretically practical to own a plane and rent it to others? I imagine that would require some sort of insurance? How much would keeping a plane at a hangar be as well? Canโ€™t imagine that is too cheap either, granted I know it will vary from place to place.

Any comments will help, thanks guys

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2 years ago