1 01:00:03,733 --> 01:00:04,901 Welcome to a very 2 01:00:04,901 --> 01:00:06,970 special episode of Own the Jet, 3 01:00:06,970 --> 01:00:07,770 where we will be 4 01:00:07,770 --> 01:00:09,005 going through the process 5 01:00:09,606 --> 01:00:10,807 of what it's like to own a jet. 6 01:00:11,474 --> 01:00:12,709 So a lot of the episodes 7 01:00:12,709 --> 01:00:13,810 that we've had up until now, 8 01:00:13,810 --> 01:00:14,644 we've talked to various 9 01:00:14,644 --> 01:00:15,511 people in the industry. 10 01:00:15,945 --> 01:00:19,349 We've talked to people that are experts 11 01:00:19,349 --> 01:00:21,918 at various aspects of jet ownership. 12 01:00:22,285 --> 01:00:23,019 But what we haven't 13 01:00:23,019 --> 01:00:24,320 yet done is walked you 14 01:00:24,320 --> 01:00:25,755 through the process of what it's like 15 01:00:25,989 --> 01:00:28,257 to go through jet purchasing. 16 01:00:28,691 --> 01:00:29,926 So we'd like to do that 17 01:00:29,926 --> 01:00:31,961 in these next few episodes 18 01:00:31,961 --> 01:00:32,695 we're gonna put together. 19 01:00:32,929 --> 01:00:34,931 But the first step in 20 01:00:34,931 --> 01:00:36,466 that process is understanding 21 01:00:36,666 --> 01:00:39,302 whether you are to the point where you 22 01:00:39,302 --> 01:00:40,203 actually need a jet. 23 01:00:41,070 --> 01:00:41,804 Welcome to Own the 24 01:00:41,804 --> 01:00:43,239 Jet by Aspen Aero Group, 25 01:00:43,539 --> 01:00:44,607 where we share perspectives 26 01:00:44,607 --> 01:00:45,875 from some of the leading voices 27 01:00:45,875 --> 01:00:46,676 in private jet 28 01:00:46,676 --> 01:00:48,077 ownership and business aviation. 29 01:00:49,012 --> 01:00:50,146 I'm your host, Derek Savage, 30 01:00:50,446 --> 01:00:52,215 along with my co-host, Jason Spoor, 31 01:00:52,548 --> 01:00:53,816 president of Aspen Aero Group. 32 01:00:54,751 --> 01:00:56,185 Join us as we dive deep 33 01:00:56,185 --> 01:00:57,653 into the mechanics, mindset, 34 01:00:57,954 --> 01:00:59,989 and moments that define jet ownership. 35 01:01:00,690 --> 01:01:02,125 And together, we'll learn 36 01:01:02,125 --> 01:01:04,127 what it takes to own the jet. 37 01:01:04,327 --> 01:01:05,528 So this is basically like a discovery, 38 01:01:05,695 --> 01:01:06,596 qualification sort of 39 01:01:06,596 --> 01:01:07,864 conversation with me. 40 01:01:08,131 --> 01:01:08,664 And we're gonna pretend 41 01:01:08,664 --> 01:01:10,333 like I'm somebody that is, 42 01:01:11,067 --> 01:01:12,902 you know, in the market for a jet. 43 01:01:12,902 --> 01:01:13,503 Why do you pretend, Derek? 44 01:01:13,903 --> 01:01:15,204 I'm in the market for a jet. 45 01:01:15,471 --> 01:01:16,105 Let's do it. 46 01:01:16,105 --> 01:01:18,074 I'm gonna, I'm actually, maybe I am in 47 01:01:18,074 --> 01:01:18,574 the market for a jet. 48 01:01:18,574 --> 01:01:19,675 You might be. I might be. 49 01:01:19,876 --> 01:01:20,410 By the end of this 50 01:01:20,410 --> 01:01:21,611 conversation, you'll have me convinced. 51 01:01:22,745 --> 01:01:24,514 So let's say that I'm coming 52 01:01:24,514 --> 01:01:27,717 to you as an aircraft broker, 53 01:01:28,384 --> 01:01:30,453 and I'm saying to you, you know what? 54 01:01:31,154 --> 01:01:33,423 I think I might be ready to own a jet. 55 01:01:34,390 --> 01:01:35,925 Maybe I have a jet in mind. 56 01:01:35,925 --> 01:01:39,128 Maybe I have a flight mission in mind, 57 01:01:39,128 --> 01:01:41,130 or a few things that I wanna do in mind 58 01:01:41,297 --> 01:01:42,665 in terms of why I wanna own a jet. 59 01:01:43,332 --> 01:01:44,767 And I have, you know, my, 60 01:01:44,767 --> 01:01:45,635 let's say I have a business, 61 01:01:45,635 --> 01:01:46,235 and I have a financial 62 01:01:46,235 --> 01:01:47,103 situation, et cetera. 63 01:01:47,403 --> 01:01:48,704 So what are some of the first things 64 01:01:48,704 --> 01:01:50,006 that you would wanna know from me, 65 01:01:50,606 --> 01:01:51,441 and some of the first 66 01:01:51,441 --> 01:01:52,141 things that I should probably 67 01:01:52,141 --> 01:01:54,277 be asking myself in regards to that? 68 01:01:54,510 --> 01:01:55,745 Yeah, so I mean, right 69 01:01:55,745 --> 01:01:57,046 out of the gate, you know, 70 01:01:57,146 --> 01:01:58,815 we're gonna wanna know 71 01:01:58,815 --> 01:01:59,682 what your interest is, 72 01:01:59,682 --> 01:02:02,852 and why, obviously, from a high level. 73 01:02:02,852 --> 01:02:04,387 Yeah, okay, so what do 74 01:02:04,387 --> 01:02:05,054 you think is the scenario? 75 01:02:05,354 --> 01:02:05,988 What was it exposure? 76 01:02:06,289 --> 01:02:07,490 Did you fly on a friend's airplane? 77 01:02:07,990 --> 01:02:09,592 Was it a charter flight you did? 78 01:02:10,126 --> 01:02:11,461 You know, where is this curiosity 79 01:02:11,461 --> 01:02:12,862 interest coming from? 80 01:02:13,229 --> 01:02:14,630 Yeah, yeah. What is your level? 81 01:02:15,164 --> 01:02:16,566 And that, what we're doing there 82 01:02:16,566 --> 01:02:18,134 is gauging your level of interest. 83 01:02:18,234 --> 01:02:19,368 Okay, so-- Are you just kinda asking, 84 01:02:19,836 --> 01:02:20,970 or you're really serious? 85 01:02:21,003 --> 01:02:21,404 No, let's do a scenario. 86 01:02:21,604 --> 01:02:22,238 Let's do a scenario. 87 01:02:22,472 --> 01:02:24,107 So let's say that I have 88 01:02:24,107 --> 01:02:26,976 been chartering flights. 89 01:02:27,910 --> 01:02:28,544 I'm a business owner, 90 01:02:28,878 --> 01:02:31,481 and I am flying regularly 91 01:02:32,014 --> 01:02:33,249 to a couple of, let's 92 01:02:33,249 --> 01:02:34,117 say I'm based in Chicago, 93 01:02:34,650 --> 01:02:35,451 and I'm flying to New 94 01:02:35,451 --> 01:02:37,286 York, and I'm flying to Dallas, 95 01:02:37,787 --> 01:02:40,389 and I'm flying to Florida on the regular. 96 01:02:41,424 --> 01:02:42,658 And let's say it's maybe 97 01:02:42,658 --> 01:02:45,061 once, sometimes twice a week. 98 01:02:45,094 --> 01:02:45,361 Yeah. 99 01:02:46,062 --> 01:02:49,098 And I'm a busy guy, I'm an important guy. 100 01:02:49,599 --> 01:02:52,568 And a lot of people need to talk to me. 101 01:02:52,602 --> 01:02:53,069 Definitely busy. 102 01:02:53,636 --> 01:02:54,871 I'm busy, I'm busy. 103 01:02:54,871 --> 01:02:57,840 Maybe not, well, we'll see. 104 01:02:57,840 --> 01:02:59,575 It's subjective. In your world, yeah. 105 01:02:59,876 --> 01:03:00,309 But let's say I've got 106 01:03:00,309 --> 01:03:01,310 a lot of travel, right? 107 01:03:02,078 --> 01:03:04,714 And I'm thinking, I've been 108 01:03:04,714 --> 01:03:06,649 chartering flights, right? 109 01:03:06,649 --> 01:03:09,252 I've been flying privately for a while, 110 01:03:09,852 --> 01:03:11,754 and maybe it's getting expensive, 111 01:03:12,088 --> 01:03:12,789 and maybe I'm in the 112 01:03:12,789 --> 01:03:13,589 market for something. 113 01:03:13,589 --> 01:03:15,091 I don't know what I'm in the market for, 114 01:03:15,091 --> 01:03:17,093 but I know that jet ownership 115 01:03:17,093 --> 01:03:18,494 might be in the cards for me. 116 01:03:18,995 --> 01:03:22,298 So let's talk about, so what 117 01:03:22,298 --> 01:03:23,166 do you need to know from me, 118 01:03:23,166 --> 01:03:24,400 and what do I need to know from myself? 119 01:03:24,767 --> 01:03:25,434 Yeah, I mean, 120 01:03:25,434 --> 01:03:26,836 definitely a lot of questions, 121 01:03:26,836 --> 01:03:29,005 and everybody's situation is different. 122 01:03:29,105 --> 01:03:29,338 Yeah. 123 01:03:30,706 --> 01:03:32,775 And everybody's thought of 124 01:03:32,775 --> 01:03:33,709 an airplane is different. 125 01:03:33,943 --> 01:03:34,177 Yeah. 126 01:03:34,544 --> 01:03:37,813 You know, so in the charter world, 127 01:03:38,147 --> 01:03:39,682 you have the capability, 128 01:03:40,316 --> 01:03:41,884 depending on how much you wanna spend, 129 01:03:42,985 --> 01:03:44,687 to charter anything up 130 01:03:44,687 --> 01:03:47,924 to an airliner, right? 131 01:03:48,858 --> 01:03:51,894 So say once you, on one 132 01:03:51,894 --> 01:03:52,628 of these charter flights, 133 01:03:52,628 --> 01:03:54,564 you got into a Global 134 01:03:54,564 --> 01:03:56,199 Express, let's just say. 135 01:03:56,199 --> 01:03:56,399 Okay. 136 01:03:57,333 --> 01:03:58,234 Granted, that would probably 137 01:03:58,234 --> 01:04:00,336 be a pretty high-end airplane. 138 01:04:00,736 --> 01:04:02,572 Yeah, so now Global Express, it's a 139 01:04:02,572 --> 01:04:03,439 Bombardier aircraft, 140 01:04:03,439 --> 01:04:06,008 it's very large, goes very far. 141 01:04:06,008 --> 01:04:06,275 It does. 142 01:04:06,576 --> 01:04:06,776 Yeah. 143 01:04:07,410 --> 01:04:09,145 So if your expectation coming in 144 01:04:09,245 --> 01:04:10,980 is to buy one of these airplanes, 145 01:04:11,647 --> 01:04:12,915 and it could very well be you can, 146 01:04:13,583 --> 01:04:15,885 but going back to what you asked, 147 01:04:16,552 --> 01:04:17,954 first is how big is your company? 148 01:04:18,254 --> 01:04:19,288 What can you afford? 149 01:04:19,589 --> 01:04:20,823 When you say how big, you mean, 150 01:04:20,823 --> 01:04:21,591 what's your revenue 151 01:04:21,591 --> 01:04:22,625 profit, all that stuff? 152 01:04:22,625 --> 01:04:23,192 Revenue, yeah. 153 01:04:23,492 --> 01:04:23,693 Okay. 154 01:04:24,026 --> 01:04:25,428 What of your budget are 155 01:04:25,428 --> 01:04:26,429 you willing to give up 156 01:04:26,429 --> 01:04:27,129 for an airplane? 157 01:04:27,763 --> 01:04:28,931 Now, you might not know 158 01:04:28,931 --> 01:04:30,700 what you wanna give up. 159 01:04:30,733 --> 01:04:30,967 Right. 160 01:04:31,634 --> 01:04:34,337 We'll go take a look at these trips, 161 01:04:34,604 --> 01:04:36,839 so Chicago, Dallas, 162 01:04:37,406 --> 01:04:39,308 Florida, back, you know. 163 01:04:39,308 --> 01:04:41,410 So a pretty decent airplane. 164 01:04:41,444 --> 01:04:41,711 Yeah. 165 01:04:42,345 --> 01:04:43,579 And so we'll grab numbers, 166 01:04:43,579 --> 01:04:44,513 and we'll grab some airplanes, 167 01:04:44,814 --> 01:04:45,781 we think are gonna be 168 01:04:45,781 --> 01:04:47,016 great for this mission. 169 01:04:47,116 --> 01:04:47,450 Yeah. 170 01:04:47,483 --> 01:04:48,384 Come to you and say, 171 01:04:48,384 --> 01:04:49,785 here's what this looks like. 172 01:04:50,353 --> 01:04:52,188 So here would be the high, 173 01:04:53,256 --> 01:04:55,725 whether that's a Challenger 300 would 174 01:04:55,725 --> 01:04:56,692 probably be the high, 175 01:04:56,959 --> 01:04:58,594 or a Gulfstream 280, you 176 01:04:58,594 --> 01:05:00,830 know, super mid-size airplane. 177 01:05:01,063 --> 01:05:01,364 Okay. 178 01:05:01,564 --> 01:05:03,032 To maybe the next level 179 01:05:03,032 --> 01:05:04,634 down's gonna be, you know, 180 01:05:04,634 --> 01:05:06,769 Hawker style airplane. 181 01:05:07,003 --> 01:05:07,270 Yeah. 182 01:05:07,637 --> 01:05:09,238 And then down to a citation type. 183 01:05:10,673 --> 01:05:11,774 So, and put this-- 184 01:05:11,774 --> 01:05:12,508 So there's a whole range 185 01:05:12,508 --> 01:05:14,010 of aircraft depending on-- 186 01:05:14,410 --> 01:05:14,610 Sure. 187 01:05:14,844 --> 01:05:16,379 Where I need to go, 188 01:05:16,379 --> 01:05:17,313 and how far I need to go. 189 01:05:18,347 --> 01:05:18,781 Because we wanna 190 01:05:18,781 --> 01:05:20,116 understand what your bandwidth is. 191 01:05:20,516 --> 01:05:21,851 So here's three options. 192 01:05:22,285 --> 01:05:23,786 Here's what they're gonna cost initially. 193 01:05:24,553 --> 01:05:26,555 Here's potentially what 194 01:05:26,555 --> 01:05:28,190 you can see on tax savings. 195 01:05:28,958 --> 01:05:29,992 Here's what it's gonna cost 196 01:05:29,992 --> 01:05:32,261 you per hour to operate it. 197 01:05:32,662 --> 01:05:33,529 Here's what it's gonna cost 198 01:05:33,529 --> 01:05:35,731 you annually to operate it. 199 01:05:36,365 --> 01:05:37,533 By giving me these options, 200 01:05:37,533 --> 01:05:39,368 are you vetting what my 201 01:05:39,368 --> 01:05:39,936 appetite for spending is? 202 01:05:40,236 --> 01:05:41,404 That's exactly what we're doing. 203 01:05:41,437 --> 01:05:41,704 Okay. 204 01:05:41,971 --> 01:05:43,105 Yes, because you came 205 01:05:43,105 --> 01:05:44,173 to me with a blank slate, 206 01:05:44,206 --> 01:05:45,975 not knowing where to start, right? 207 01:05:46,008 --> 01:05:46,609 Yeah, yeah. 208 01:05:46,842 --> 01:05:48,010 So we're gonna start with 209 01:05:48,010 --> 01:05:49,245 a couple different things. 210 01:05:49,945 --> 01:05:51,547 Here's a panel, take a look. 211 01:05:52,515 --> 01:05:53,983 Where do you fit into this? 212 01:05:54,550 --> 01:05:56,952 Not only did we bring up, you know, 213 01:05:56,952 --> 01:05:58,154 the size of the airplane, 214 01:05:58,654 --> 01:06:00,256 but also how many people 215 01:06:00,256 --> 01:06:01,257 are you gonna take with you? 216 01:06:01,257 --> 01:06:02,258 How big are these people? 217 01:06:02,725 --> 01:06:03,592 What does this look like? 218 01:06:03,826 --> 01:06:05,061 Because, you know, in an airplane, 219 01:06:05,361 --> 01:06:07,763 we can say, hey, we sit up to six people, 220 01:06:08,331 --> 01:06:09,865 but in reality, these are 221 01:06:09,865 --> 01:06:12,568 people that are 170 pounds. 222 01:06:13,669 --> 01:06:15,104 So if one of them's 280, 223 01:06:16,138 --> 01:06:16,772 then we need to start 224 01:06:16,772 --> 01:06:17,907 thinking about some other things. 225 01:06:17,940 --> 01:06:18,240 Okay. 226 01:06:18,808 --> 01:06:20,509 So there's that, there's, you know, 227 01:06:20,509 --> 01:06:21,644 just the typical physical 228 01:06:21,644 --> 01:06:22,845 structure of the airplane 229 01:06:23,412 --> 01:06:24,547 and what it's gonna take. 230 01:06:24,780 --> 01:06:27,450 And then with that type of routing, 231 01:06:28,017 --> 01:06:28,784 we're gonna be able to 232 01:06:28,784 --> 01:06:30,286 get in from, you know, 233 01:06:30,453 --> 01:06:32,455 a lower cost airplane right 234 01:06:32,455 --> 01:06:34,423 up to sky's the limit, right? 235 01:06:34,490 --> 01:06:35,491 Well, what about me and my 236 01:06:35,491 --> 01:06:37,093 financial situation, right? 237 01:06:37,426 --> 01:06:40,029 So let's say I'm flying, you 238 01:06:40,029 --> 01:06:41,263 know, I'm chartering flights, 239 01:06:41,664 --> 01:06:42,665 you know, maybe once a week, 240 01:06:43,232 --> 01:06:44,233 maybe once every two weeks, 241 01:06:44,233 --> 01:06:45,401 I'm being honest about it. 242 01:06:46,535 --> 01:06:47,870 Maybe I'm not that important, right? 243 01:06:49,071 --> 01:06:50,673 But, you know, I'm going 244 01:06:50,673 --> 01:06:52,341 as far as from, you know, 245 01:06:52,341 --> 01:06:54,610 Chicago to New York or Chicago to Dallas. 246 01:06:54,610 --> 01:06:54,810 Yeah. 247 01:06:55,811 --> 01:06:56,579 You know, I'm not going 248 01:06:56,579 --> 01:06:57,847 all the way down to like, 249 01:06:58,014 --> 01:06:58,814 you know, Costa Rica. 250 01:06:59,515 --> 01:07:00,883 I'm not going all the way, you know, 251 01:07:00,883 --> 01:07:01,851 I'm not going across the pond. 252 01:07:02,184 --> 01:07:02,385 Yep. 253 01:07:02,918 --> 01:07:04,787 So it's all within the United States. 254 01:07:05,755 --> 01:07:06,088 First airplane. 255 01:07:06,756 --> 01:07:07,890 First airplane, right? 256 01:07:08,124 --> 01:07:09,759 So I've not experienced, 257 01:07:10,092 --> 01:07:10,626 there might be some 258 01:07:10,626 --> 01:07:11,627 stuff that I don't know 259 01:07:12,161 --> 01:07:13,095 in terms of cost. 260 01:07:13,529 --> 01:07:13,729 Yep. 261 01:07:13,929 --> 01:07:15,831 Now I'm looking at, you know, 262 01:07:16,265 --> 01:07:16,866 let's say I've got a 263 01:07:16,866 --> 01:07:18,701 business that's, you know, 264 01:07:18,701 --> 01:07:21,670 let's just say to keep it simple, 265 01:07:22,671 --> 01:07:24,240 $10 million in revenue 266 01:07:24,240 --> 01:07:26,075 and let's say I'm clearing, 267 01:07:26,475 --> 01:07:30,146 I don't know, a million five, you know, 268 01:07:30,346 --> 01:07:31,047 at the end of the year. 269 01:07:31,247 --> 01:07:33,382 And is that a situation, 270 01:07:33,783 --> 01:07:34,250 I don't know if you 271 01:07:34,250 --> 01:07:35,184 need to know about like, 272 01:07:35,584 --> 01:07:36,786 my personal finances 273 01:07:36,786 --> 01:07:38,187 versus the business finances 274 01:07:38,454 --> 01:07:39,455 or what do I need to be 275 01:07:39,455 --> 01:07:40,956 looking at in regards to that? 276 01:07:40,990 --> 01:07:42,258 Does that qualify me for 277 01:07:42,258 --> 01:07:44,093 being, you know, air worthy? 278 01:07:44,326 --> 01:07:44,693 Oh sure. 279 01:07:45,127 --> 01:07:46,729 I mean, at that level, 280 01:07:47,797 --> 01:07:50,566 you're, we're probably going to come back 281 01:07:50,566 --> 01:07:52,802 with an option of a, you know, 282 01:07:52,802 --> 01:07:57,373 a net jet or a flex jet 283 01:07:57,373 --> 01:07:58,874 or a quarter share type. 284 01:07:58,974 --> 01:07:59,308 Okay. 285 01:07:59,408 --> 01:08:01,811 Or maybe even a jet card, depending. 286 01:08:02,411 --> 01:08:03,446 And so, so what, that 287 01:08:03,446 --> 01:08:05,548 means don't buy a jet outright. 288 01:08:05,548 --> 01:08:06,048 That's right. 289 01:08:06,048 --> 01:08:07,616 That means I have, 290 01:08:07,616 --> 01:08:08,951 what fractional ownership? 291 01:08:09,351 --> 01:08:09,685 Fractional ownership. 292 01:08:09,885 --> 01:08:10,553 Like a timeshare. 293 01:08:11,420 --> 01:08:13,222 Just all it means is yes, 294 01:08:13,222 --> 01:08:14,557 you have access to the jet. 295 01:08:15,224 --> 01:08:17,326 You're setting things up in advance. 296 01:08:17,893 --> 01:08:19,095 So you know what you're doing 297 01:08:19,462 --> 01:08:20,496 and you're making these 298 01:08:20,496 --> 01:08:23,132 trips happen, you know, that way. 299 01:08:23,466 --> 01:08:23,966 It's a good 300 01:08:23,966 --> 01:08:26,268 introduction into jet ownership 301 01:08:26,268 --> 01:08:27,269 and seeing what it's all 302 01:08:27,269 --> 01:08:28,304 about and how it works. 303 01:08:28,537 --> 01:08:29,572 There are some limitations 304 01:08:29,572 --> 01:08:32,908 to it that you wouldn't have 305 01:08:32,908 --> 01:08:35,511 if you're a wholly owned jet owner, 306 01:08:36,212 --> 01:08:37,213 just as far as scheduling. 307 01:08:37,713 --> 01:08:38,647 So, you know, last 308 01:08:38,647 --> 01:08:39,715 minute it's going to cost 309 01:08:40,916 --> 01:08:41,217 you to change. 310 01:08:41,250 --> 01:08:42,585 So I need to know in 311 01:08:42,585 --> 01:08:43,819 advance, well in advance, 312 01:08:43,819 --> 01:08:44,653 I can't just, you 313 01:08:44,653 --> 01:08:47,590 know, be on a sales call 314 01:08:47,590 --> 01:08:48,491 with a potential client 315 01:08:48,491 --> 01:08:50,593 and I'll be in Dallas by five 316 01:08:50,893 --> 01:08:51,927 and we'll go have dinner. 317 01:08:51,961 --> 01:08:52,228 Right. 318 01:08:52,261 --> 01:08:52,928 And I'm in Chicago, 319 01:08:53,128 --> 01:08:53,662 that's not gonna work. 320 01:08:53,662 --> 01:08:55,064 Yeah, and you can do that, you can do it. 321 01:08:55,631 --> 01:08:57,666 There's gonna be an impact there. 322 01:08:57,666 --> 01:08:58,667 Okay, gotcha. 323 01:08:59,135 --> 01:09:01,170 You talk about things like quarter share. 324 01:09:01,437 --> 01:09:02,972 Does that mean I'm paying like literally 325 01:09:03,172 --> 01:09:04,974 a quarter of the price too? 326 01:09:05,341 --> 01:09:08,110 That's right. Or is it more than that? 327 01:09:08,310 --> 01:09:09,345 Yeah, a little more than that. 328 01:09:10,246 --> 01:09:11,347 You're actually deeded at a 329 01:09:11,347 --> 01:09:12,882 quarter share of an asset. 330 01:09:13,349 --> 01:09:13,849 So you do have 331 01:09:13,849 --> 01:09:15,751 something that is, you know, 332 01:09:15,985 --> 01:09:18,187 depreciatable, tax deductible. 333 01:09:18,587 --> 01:09:18,854 Okay. 334 01:09:19,622 --> 01:09:21,157 On top of that, you're 335 01:09:21,157 --> 01:09:22,791 gonna be paying into fees 336 01:09:22,791 --> 01:09:25,027 with the airplane and get a little taste 337 01:09:25,027 --> 01:09:26,495 of what that looks like. 338 01:09:26,829 --> 01:09:27,863 As your business grows 339 01:09:27,863 --> 01:09:29,565 and as your needs grow, 340 01:09:30,032 --> 01:09:31,433 then you're working your 341 01:09:31,433 --> 01:09:32,434 way into whole ownership. 342 01:09:33,002 --> 01:09:33,769 The next step out of 343 01:09:33,769 --> 01:09:35,004 that is whole ownership. 344 01:09:35,471 --> 01:09:37,573 Obviously in the quarter share world, 345 01:09:37,873 --> 01:09:39,175 you can go into half 346 01:09:39,175 --> 01:09:41,243 ownership and, you know, 347 01:09:41,544 --> 01:09:43,212 kind of move up, but logically-- 348 01:09:43,445 --> 01:09:44,413 The fraction gets bigger? 349 01:09:44,446 --> 01:09:45,381 The fraction gets bigger. 350 01:09:45,881 --> 01:09:47,850 And at that point, it's probably best 351 01:09:47,850 --> 01:09:49,385 to start talking to whole ownership. 352 01:09:49,652 --> 01:09:50,986 So let's say, yeah, let's say 353 01:09:50,986 --> 01:09:52,388 my business does well, right? 354 01:09:52,388 --> 01:09:53,589 Let's say having fractional 355 01:09:53,589 --> 01:09:55,891 ownership does well for me. 356 01:09:55,891 --> 01:09:57,626 I'm able to get to Dallas, 357 01:09:57,826 --> 01:09:58,727 I'm able to get to New York 358 01:09:58,894 --> 01:10:00,529 and get some deals closed. 359 01:10:00,529 --> 01:10:02,331 And let's say the next year, my business 360 01:10:02,331 --> 01:10:03,566 is up to 20 million. 361 01:10:03,866 --> 01:10:05,434 Let's say we're bringing in, you know, 362 01:10:05,668 --> 01:10:07,536 two, three million at that point, profit 363 01:10:07,536 --> 01:10:08,504 at the end of the year. 364 01:10:08,804 --> 01:10:09,939 Maybe my options open up 365 01:10:09,939 --> 01:10:11,040 a little bit more, right? 366 01:10:11,273 --> 01:10:11,473 Absolutely. 367 01:10:11,774 --> 01:10:13,142 So what is the next 368 01:10:13,142 --> 01:10:14,443 step there from fractional? 369 01:10:14,543 --> 01:10:15,344 So working into whole 370 01:10:15,344 --> 01:10:16,412 ownership, you know, 371 01:10:16,412 --> 01:10:17,646 we're working towards that, right? 372 01:10:17,813 --> 01:10:19,915 And again, looking at the customer, 373 01:10:20,583 --> 01:10:22,051 the demographic of what 374 01:10:22,051 --> 01:10:23,852 their travel looks like, 375 01:10:23,852 --> 01:10:25,688 as far as the people 376 01:10:25,688 --> 01:10:27,022 going back again to that, 377 01:10:27,523 --> 01:10:29,325 and what size airplane fits best. 378 01:10:31,894 --> 01:10:33,095 Again, just like 379 01:10:33,095 --> 01:10:34,630 buying a car, we can go out 380 01:10:34,763 --> 01:10:37,499 and buy a great big van 381 01:10:37,499 --> 01:10:40,769 for 30 grand, whatever it is. 382 01:10:40,836 --> 01:10:41,637 Well, that's a great question. 383 01:10:41,637 --> 01:10:42,705 Do I get to test drive it? 384 01:10:43,105 --> 01:10:43,272 Yeah. 385 01:10:43,272 --> 01:10:44,873 Do I get to, so it's like if I'm looking 386 01:10:44,873 --> 01:10:46,108 at all these planes, right? 387 01:10:46,475 --> 01:10:48,744 Am I like, do I show up to like, 388 01:10:49,345 --> 01:10:50,112 let's say you give me a 389 01:10:50,112 --> 01:10:51,280 bunch of options, right? 390 01:10:52,147 --> 01:10:53,382 And I want to do this too. 391 01:10:53,415 --> 01:10:53,649 Yeah. 392 01:10:53,682 --> 01:10:55,985 Do we get to say like, okay, 393 01:10:55,985 --> 01:10:57,186 I'm in the market for a plane. 394 01:10:57,186 --> 01:10:58,020 Take it for a spin. 395 01:10:58,053 --> 01:10:59,255 Take it for a spin, 396 01:10:59,555 --> 01:11:00,356 because I want to know, 397 01:11:00,356 --> 01:11:00,956 I mean, this is the 398 01:11:00,956 --> 01:11:01,890 expensive thing, right? 399 01:11:01,890 --> 01:11:03,325 I want to know, am I going 400 01:11:03,325 --> 01:11:04,693 to get to go fly in a plane? 401 01:11:04,727 --> 01:11:05,661 And see like, I want to 402 01:11:05,661 --> 01:11:06,695 know where the cup holder's on, 403 01:11:06,695 --> 01:11:09,064 or I want to know if the bathroom's nice, 404 01:11:09,531 --> 01:11:10,266 you know, all that stuff. 405 01:11:10,666 --> 01:11:12,668 Not in the terms of you buying a car. 406 01:11:13,636 --> 01:11:15,504 It's not quite that accessible. 407 01:11:16,572 --> 01:11:20,509 If, of course, totally good question, 408 01:11:20,809 --> 01:11:22,311 and what does it look like inside? 409 01:11:22,311 --> 01:11:23,612 How do I fit in it? 410 01:11:24,079 --> 01:11:24,113 Sure. 411 01:11:24,146 --> 01:11:25,447 You know, definitely need to do that. 412 01:11:25,981 --> 01:11:27,783 Definitely need to see that and feel it. 413 01:11:28,350 --> 01:11:31,387 Flying it, yeah, also possible. 414 01:11:32,421 --> 01:11:33,656 The way it's done is 415 01:11:33,656 --> 01:11:34,823 usually with some money. 416 01:11:35,090 --> 01:11:35,257 Okay. 417 01:11:35,724 --> 01:11:36,659 It's just a charge for 418 01:11:36,659 --> 01:11:37,593 how much it's going to cost 419 01:11:37,593 --> 01:11:38,360 to run that airplane. 420 01:11:38,694 --> 01:11:40,229 Okay, so I got to pay for gas, 421 01:11:40,229 --> 01:11:41,497 I got to pay for the pilot. 422 01:11:41,664 --> 01:11:43,432 Depending on the seller and 423 01:11:43,432 --> 01:11:44,867 what they're willing to do. 424 01:11:45,000 --> 01:11:45,334 Gotcha. 425 01:11:45,834 --> 01:11:47,436 How far they're willing to go. 426 01:11:47,469 --> 01:11:48,037 If they're really 427 01:11:48,037 --> 01:11:48,904 trying to get rid of it, 428 01:11:48,904 --> 01:11:50,472 they might be a little 429 01:11:50,472 --> 01:11:51,674 bit more open with you. 430 01:11:52,007 --> 01:11:52,975 Right, and if not, then 431 01:11:52,975 --> 01:11:54,510 we'll look for another option, 432 01:11:54,510 --> 01:11:55,778 whether we charter an 433 01:11:55,778 --> 01:11:57,913 airplane of similar attributes 434 01:11:58,213 --> 01:11:59,381 and get you on that. 435 01:11:59,415 --> 01:11:59,948 We're talking about 436 01:11:59,948 --> 01:12:01,016 moving into whole ownership. 437 01:12:01,050 --> 01:12:02,151 Why would I want to? 438 01:12:02,584 --> 01:12:03,919 I guess what are the downsides of 439 01:12:03,919 --> 01:12:04,586 fractional ownership? 440 01:12:05,087 --> 01:12:06,322 And you said you were 441 01:12:06,322 --> 01:12:07,356 talking about having a card? 442 01:12:07,623 --> 01:12:08,090 What was it? 443 01:12:08,090 --> 01:12:08,657 Yeah, a jet card. 444 01:12:08,691 --> 01:12:09,258 A jet card. 445 01:12:09,491 --> 01:12:10,326 Yeah, so you're buying time. 446 01:12:10,859 --> 01:12:12,728 So a jet card is just like a credit card 447 01:12:12,728 --> 01:12:13,662 and there's 50 hours on 448 01:12:13,662 --> 01:12:15,664 it and you cash them in. 449 01:12:15,831 --> 01:12:16,065 Okay. 450 01:12:16,665 --> 01:12:18,500 And the dynamics of it work different 451 01:12:18,500 --> 01:12:19,268 with different companies 452 01:12:19,268 --> 01:12:20,502 that hold these jet cards, 453 01:12:20,803 --> 01:12:22,404 but it's something to talk about. 454 01:12:22,971 --> 01:12:23,806 A jet card would be 455 01:12:23,806 --> 01:12:26,108 pre-buying into a quarter share. 456 01:12:26,475 --> 01:12:26,775 Okay. 457 01:12:27,109 --> 01:12:28,010 So that would probably be something. 458 01:12:28,010 --> 01:12:29,378 So that's your taste of the world. 459 01:12:30,012 --> 01:12:30,746 The quarter share is 460 01:12:30,746 --> 01:12:31,447 actually like committing. 461 01:12:31,780 --> 01:12:32,314 Yep, yep. 462 01:12:32,347 --> 01:12:32,715 Okay. 463 01:12:32,715 --> 01:12:34,049 And once you experience 464 01:12:34,049 --> 01:12:35,918 it, you're gonna love it. 465 01:12:35,951 --> 01:12:36,952 You only wanna move up. 466 01:12:36,952 --> 01:12:37,186 Yeah. 467 01:12:37,486 --> 01:12:37,753 Okay. 468 01:12:38,053 --> 01:12:38,821 Well, what are some of the 469 01:12:38,821 --> 01:12:39,455 things I'm gonna run into 470 01:12:39,755 --> 01:12:41,056 as a fractional owner or 471 01:12:41,056 --> 01:12:42,024 somebody with a jet card 472 01:12:42,624 --> 01:12:44,393 that may be like, oh, I 473 01:12:44,393 --> 01:12:46,328 gotta get a wholly owned jet 474 01:12:46,628 --> 01:12:47,062 at this point. 475 01:12:47,496 --> 01:12:49,031 So availability, scheduling, 476 01:12:49,732 --> 01:12:50,632 getting a hold of that 477 01:12:50,632 --> 01:12:51,967 airplane when you need it. 478 01:12:52,000 --> 01:12:52,568 Gotcha. 479 01:12:52,835 --> 01:12:54,403 There's a huge spectrum there, right, 480 01:12:54,403 --> 01:12:55,771 of companies that do this 481 01:12:55,771 --> 01:12:58,006 and their accessibility. 482 01:12:58,807 --> 01:12:59,908 And that's a whole other show 483 01:12:59,908 --> 01:13:01,143 and a whole other conversation. 484 01:13:01,510 --> 01:13:01,710 Sure. 485 01:13:02,010 --> 01:13:02,845 And maybe we can get net 486 01:13:02,845 --> 01:13:03,946 jets or somebody to come on 487 01:13:03,946 --> 01:13:04,847 and explain that. 488 01:13:05,280 --> 01:13:07,116 But a big gamut there. 489 01:13:07,416 --> 01:13:07,549 Okay. 490 01:13:07,549 --> 01:13:09,318 Of what people are willing to promise you 491 01:13:09,918 --> 01:13:11,754 for owning their jet card. 492 01:13:12,387 --> 01:13:14,056 But again, just a taste, get 493 01:13:14,056 --> 01:13:15,791 you into quarter ownership, 494 01:13:16,225 --> 01:13:18,360 or you just go right to whole ownership. 495 01:13:18,627 --> 01:13:19,795 If that presents itself 496 01:13:19,795 --> 01:13:20,763 and you're traveling enough 497 01:13:20,763 --> 01:13:22,731 to justify that and make it work, 498 01:13:23,632 --> 01:13:25,033 then you have an airplane 499 01:13:25,033 --> 01:13:27,736 that is 100% available to you. 500 01:13:28,470 --> 01:13:28,704 Nice. 501 01:13:29,204 --> 01:13:30,939 So I don't have to, so no matter how, 502 01:13:31,507 --> 01:13:33,909 and I'm sure these companies 503 01:13:33,909 --> 01:13:36,011 that do the charter services, 504 01:13:36,245 --> 01:13:37,746 like the ownership, or 505 01:13:37,746 --> 01:13:38,480 fractional ownership, 506 01:13:38,480 --> 01:13:41,316 and or the cards, I'm 507 01:13:41,316 --> 01:13:42,351 sure they do a great job 508 01:13:42,351 --> 01:13:43,652 of making the process easy 509 01:13:43,652 --> 01:13:45,053 and smooth and et cetera. 510 01:13:45,521 --> 01:13:46,655 And I'm not trying to downplay them. 511 01:13:47,055 --> 01:13:49,691 But I can't, I mean, 512 01:13:49,691 --> 01:13:51,226 literally, if there is a jet, 513 01:13:52,227 --> 01:13:53,462 only so many people can fly, 514 01:13:53,796 --> 01:13:54,696 or can take that jet 515 01:13:54,696 --> 01:13:56,131 out at a time, right? 516 01:13:56,165 --> 01:13:57,232 It's like there, it's 517 01:13:57,232 --> 01:13:58,267 just a matter of scarcity 518 01:13:58,467 --> 01:13:59,768 and resources there, right? 519 01:14:00,402 --> 01:14:00,636 Right. 520 01:14:01,003 --> 01:14:02,805 So owning it wholly, 521 01:14:03,672 --> 01:14:05,073 it's whatever I want. 522 01:14:05,073 --> 01:14:05,407 That's right. 523 01:14:05,407 --> 01:14:06,108 At that point, right? 524 01:14:06,575 --> 01:14:08,343 Yep, 100% access. 525 01:14:09,044 --> 01:14:10,979 Obviously, it is a machine, 526 01:14:10,979 --> 01:14:12,080 so there's some breakdowns, 527 01:14:12,080 --> 01:14:12,648 there's some maintenance. 528 01:14:12,915 --> 01:14:14,883 But for all practical purposes, 529 01:14:15,651 --> 01:14:17,953 you have access to it 100% of the time. 530 01:14:18,387 --> 01:14:20,355 So let's say there's a good use case then 531 01:14:20,656 --> 01:14:21,590 to get out of fractional ownership 532 01:14:21,590 --> 01:14:23,025 and into wholly owned, or 533 01:14:23,025 --> 01:14:24,526 having a wholly owned jet. 534 01:14:24,560 --> 01:14:24,760 Sure. 535 01:14:25,661 --> 01:14:26,495 Let's say it's like, I 536 01:14:26,495 --> 01:14:28,230 just need to have it available 537 01:14:28,230 --> 01:14:30,032 for me, I just need to travel more. 538 01:14:30,566 --> 01:14:33,869 Your next question to me is going to be, 539 01:14:33,869 --> 01:14:36,605 what, about my ability 540 01:14:36,605 --> 01:14:37,840 to pay for something, 541 01:14:37,840 --> 01:14:38,540 or are we talking mission? 542 01:14:38,941 --> 01:14:40,475 Yeah, both, right? 543 01:14:41,009 --> 01:14:41,743 So, I mean, we know 544 01:14:41,743 --> 01:14:43,445 the mission, basically. 545 01:14:43,645 --> 01:14:44,446 I gotta go to Dallas. 546 01:14:44,913 --> 01:14:45,881 I gotta go to New 547 01:14:45,881 --> 01:14:46,782 York, sometimes Florida. 548 01:14:46,815 --> 01:14:48,350 So then the paramount 549 01:14:48,350 --> 01:14:50,018 thing is, yeah, it's cost. 550 01:14:50,953 --> 01:14:52,621 And here's what that looks like. 551 01:14:53,589 --> 01:14:56,258 Here's just a granular look at that. 552 01:14:56,592 --> 01:14:57,092 This is what it's 553 01:14:57,092 --> 01:14:59,094 gonna cost you per year. 554 01:14:59,094 --> 01:14:59,695 This is what it's gonna 555 01:14:59,695 --> 01:15:01,129 cost you for five years. 556 01:15:01,864 --> 01:15:04,800 Now, buying an airplane, of course, 557 01:15:05,300 --> 01:15:06,068 we have regulatory 558 01:15:06,068 --> 01:15:07,769 requirements, which we've talked about, 559 01:15:08,036 --> 01:15:08,837 and people have heard about 560 01:15:08,837 --> 01:15:10,572 it on our show quite a bit. 561 01:15:11,607 --> 01:15:13,375 So, looking at that airplane, 562 01:15:14,109 --> 01:15:15,544 we wanna take a 563 01:15:15,544 --> 01:15:16,812 really deep dive into that. 564 01:15:17,145 --> 01:15:18,947 So, once we identify an 565 01:15:18,947 --> 01:15:19,915 airplane that we like, 566 01:15:20,449 --> 01:15:21,617 and this is the plane, 567 01:15:21,617 --> 01:15:22,484 this is what we like, 568 01:15:22,784 --> 01:15:23,752 we're gonna take a good 569 01:15:23,752 --> 01:15:24,720 look at what that plane's 570 01:15:24,720 --> 01:15:26,455 gonna cost us for five years, 571 01:15:26,855 --> 01:15:28,323 and we're gonna show you that. 572 01:15:28,824 --> 01:15:29,458 Because what could 573 01:15:29,458 --> 01:15:30,792 happen is you buy an airplane 574 01:15:30,792 --> 01:15:32,895 that has a major inspection due, 575 01:15:33,795 --> 01:15:35,864 in year three of your ownership. 576 01:15:36,498 --> 01:15:38,400 So, we wanna make sure and due diligence 577 01:15:38,667 --> 01:15:42,571 that we say to you, Derek, in 20 blah, 578 01:15:43,405 --> 01:15:44,706 this airplane's gonna need 579 01:15:44,706 --> 01:15:46,808 a $1.2 million inspection. 580 01:15:47,809 --> 01:15:48,610 And you need to know that. 581 01:15:48,710 --> 01:15:50,612 Not that much for an inspection? 582 01:15:50,979 --> 01:15:52,514 That's insane. It can be, yeah. 583 01:15:52,648 --> 01:15:54,750 And I picked a big one, that's a big one. 584 01:15:55,150 --> 01:15:56,285 But if I'm going for an 585 01:15:56,285 --> 01:15:57,352 older plane, because I wanna-- 586 01:15:57,486 --> 01:15:58,186 You're gonna be there. 587 01:15:58,520 --> 01:15:59,555 You're probably gonna be in that world. 588 01:15:59,588 --> 01:16:00,889 That's something like 589 01:16:00,889 --> 01:16:02,691 15 year old BMW, right? 590 01:16:03,492 --> 01:16:03,592 (laughing) 591 01:16:03,592 --> 01:16:04,493 Like, whatever, right? 592 01:16:05,327 --> 01:16:07,429 So, we're gonna wanna make sure that 593 01:16:07,729 --> 01:16:09,565 in our due diligence as a broker, 594 01:16:10,332 --> 01:16:12,034 that we're finding all this 595 01:16:12,034 --> 01:16:14,102 stuff out, and we know this. 596 01:16:14,703 --> 01:16:15,570 And that goes back to 597 01:16:15,570 --> 01:16:16,605 that affordability question. 598 01:16:17,005 --> 01:16:18,440 Again, don't wanna set 599 01:16:18,440 --> 01:16:20,409 you up for a situation 600 01:16:21,109 --> 01:16:23,645 where, oh my God, in year three, 601 01:16:23,645 --> 01:16:25,213 I've gotta shell out an extra million 602 01:16:25,213 --> 01:16:26,448 dollars or whatever. 603 01:16:26,481 --> 01:16:26,848 Yeah. 604 01:16:27,215 --> 01:16:28,283 Yeah, again, that's a high number, 605 01:16:28,617 --> 01:16:32,087 but it can be easily, 606 01:16:32,521 --> 01:16:33,188 depending on the airplane. 607 01:16:33,488 --> 01:16:35,757 So, am I just looking at cost, 608 01:16:35,958 --> 01:16:38,427 or what other considerations am I, am I, 609 01:16:38,994 --> 01:16:41,129 I mean, is it, how 610 01:16:41,129 --> 01:16:42,097 much personal preference 611 01:16:42,097 --> 01:16:43,599 comes into it as far as, I just, 612 01:16:44,132 --> 01:16:45,567 I play golf with a guy 613 01:16:45,567 --> 01:16:47,102 that owns a Gulfstream, 614 01:16:47,102 --> 01:16:48,303 and I wanna own a Gulfstream too. 615 01:16:48,604 --> 01:16:48,870 Yeah. 616 01:16:49,371 --> 01:16:50,539 How much is that? 617 01:16:50,939 --> 01:16:52,441 Yeah, there's quite a bit of that, right? 618 01:16:52,641 --> 01:16:52,874 Yeah. 619 01:16:52,908 --> 01:16:54,810 I mean, there's definitely airplane envy. 620 01:16:55,577 --> 01:16:55,644 Sure. 621 01:16:55,644 --> 01:16:58,347 You know, so, the guys that-- 622 01:16:58,347 --> 01:16:58,647 I like those little Honda 623 01:16:58,647 --> 01:16:59,548 jets, have you seen those? 624 01:16:59,548 --> 01:17:00,349 They are, they're nice. 625 01:17:00,349 --> 01:17:00,716 I've seen those. 626 01:17:00,716 --> 01:17:01,917 (laughing) 627 01:17:02,484 --> 01:17:02,551 They're nice. 628 01:17:02,551 --> 01:17:03,852 They have a function too. 629 01:17:04,086 --> 01:17:05,153 I mean, everything has a function. 630 01:17:05,387 --> 01:17:07,155 But, is it the function you want? 631 01:17:07,155 --> 01:17:09,291 Is it what you need, or what you want? 632 01:17:09,958 --> 01:17:11,226 How do we have these discussions? 633 01:17:11,627 --> 01:17:13,829 So, in a brokerage firm, the 634 01:17:13,829 --> 01:17:15,130 brokerage firm that you want, 635 01:17:15,530 --> 01:17:16,198 is the one that's gonna 636 01:17:16,198 --> 01:17:17,332 sit down with you and say, 637 01:17:17,966 --> 01:17:19,134 here's kind of the 638 01:17:19,134 --> 01:17:21,703 world of where you are. 639 01:17:21,803 --> 01:17:22,070 Yeah. 640 01:17:22,637 --> 01:17:26,875 Here's the BMW of the world. 641 01:17:27,109 --> 01:17:27,376 Okay. 642 01:17:27,409 --> 01:17:28,710 And this is what it looks like. 643 01:17:28,810 --> 01:17:29,177 Okay. 644 01:17:29,211 --> 01:17:29,945 You know, here's the 645 01:17:29,945 --> 01:17:31,046 middle, here's the low. 646 01:17:31,446 --> 01:17:32,614 Coming in with what you 647 01:17:32,614 --> 01:17:34,049 and I would know as a you go. 648 01:17:34,349 --> 01:17:34,616 Yeah. 649 01:17:34,616 --> 01:17:35,650 Or whatever, a Chevette. 650 01:17:36,118 --> 01:17:36,785 Sure, sure. 651 01:17:36,852 --> 01:17:39,154 And then, we're gonna show you this. 652 01:17:39,521 --> 01:17:39,755 Yeah. 653 01:17:40,622 --> 01:17:40,856 And what's gonna fit in 654 01:17:40,856 --> 01:17:42,391 your puzzle right now. 655 01:17:42,391 --> 01:17:43,191 Because we need to know, 656 01:17:43,425 --> 01:17:44,259 what's it gonna look like 657 01:17:44,326 --> 01:17:45,761 next year for you? 658 01:17:45,827 --> 01:17:46,094 Yeah. 659 01:17:46,695 --> 01:17:48,864 And maybe the year after. 660 01:17:49,364 --> 01:17:50,465 Because at that point, 661 01:17:51,133 --> 01:17:52,434 two, three years into it, 662 01:17:52,634 --> 01:17:54,336 and your company's growing, 663 01:17:54,970 --> 01:17:57,406 and your wealth is growing. 664 01:17:57,606 --> 01:17:57,939 Yeah. 665 01:17:57,973 --> 01:17:59,608 I'm gonna flip this thing in two years. 666 01:17:59,608 --> 01:18:01,009 I'm gonna flip it in four years. 667 01:18:01,443 --> 01:18:03,478 Of course, those variables, we really, 668 01:18:04,046 --> 01:18:05,347 just like the stock market or any 669 01:18:05,347 --> 01:18:06,615 financial conversation, 670 01:18:07,149 --> 01:18:08,650 we don't know the answer to that. 671 01:18:08,684 --> 01:18:09,251 We don't know what's 672 01:18:09,251 --> 01:18:10,285 gonna happen next year. 673 01:18:10,552 --> 01:18:11,753 Things could totally change. 674 01:18:12,054 --> 01:18:12,254 Right. 675 01:18:12,854 --> 01:18:13,188 So, what-- 676 01:18:13,188 --> 01:18:14,322 You have a different tax situation. 677 01:18:14,356 --> 01:18:15,724 We can have a tax, yeah, 678 01:18:15,724 --> 01:18:16,792 we can have a tax change. 679 01:18:17,325 --> 01:18:18,660 But now we have bonus 680 01:18:18,660 --> 01:18:19,828 depreciation out there. 681 01:18:19,828 --> 01:18:20,062 Sure. 682 01:18:20,896 --> 01:18:22,130 So, we wanna be able to make sure 683 01:18:22,130 --> 01:18:23,031 we're taking full advantage 684 01:18:23,031 --> 01:18:24,833 of taxes and depreciation. 685 01:18:25,400 --> 01:18:26,201 But again, we wanna 686 01:18:26,201 --> 01:18:27,269 set you up for success. 687 01:18:27,636 --> 01:18:29,104 And put a plan together 688 01:18:29,104 --> 01:18:31,373 that, what does this look like? 689 01:18:31,373 --> 01:18:31,907 What does this look 690 01:18:31,907 --> 01:18:33,108 like five years from now? 691 01:18:33,575 --> 01:18:35,277 Can I run this jet seven years? 692 01:18:35,277 --> 01:18:36,344 Can I run it 10 years? 693 01:18:37,012 --> 01:18:37,746 What are some things that would 694 01:18:37,746 --> 01:18:39,014 immediately disqualify me? 695 01:18:39,681 --> 01:18:40,482 From jet ownership? 696 01:18:40,916 --> 01:18:41,416 What are some things 697 01:18:41,416 --> 01:18:42,184 like if I came to you 698 01:18:42,184 --> 01:18:42,984 and I'm like, you know what? 699 01:18:44,486 --> 01:18:46,054 I mean, is it just the money? 700 01:18:46,388 --> 01:18:47,622 Or are there other things? 701 01:18:47,889 --> 01:18:48,490 I mean, because I could 702 01:18:48,490 --> 01:18:49,458 come to you and say like, 703 01:18:49,458 --> 01:18:51,093 hey man, I'm running a 704 01:18:51,093 --> 01:18:52,094 construction business. 705 01:18:52,094 --> 01:18:53,729 We made five million last year. 706 01:18:54,296 --> 01:18:56,498 I was able to bring 707 01:18:56,498 --> 01:18:57,632 home just under a million. 708 01:18:58,233 --> 01:18:59,901 I really wanna get a jet, 709 01:19:00,202 --> 01:19:01,269 because I know some people with jets. 710 01:19:01,737 --> 01:19:02,671 Is this right for me? 711 01:19:03,205 --> 01:19:04,406 Yeah, no, it's not. 712 01:19:04,506 --> 01:19:06,374 I mean, it's just right off the bat, no. 713 01:19:07,075 --> 01:19:09,911 Yeah, most, yes, most of the time. 714 01:19:10,011 --> 01:19:11,513 Unless there's another funnel of money. 715 01:19:11,913 --> 01:19:14,015 But based on what you said, no. 716 01:19:14,916 --> 01:19:17,185 But what we can do, 717 01:19:17,552 --> 01:19:19,387 outside of a jet airplane 718 01:19:19,387 --> 01:19:21,156 would be a turboprop airplane. 719 01:19:21,757 --> 01:19:22,724 Something a little smaller. 720 01:19:23,391 --> 01:19:24,526 Something goes a little slower. 721 01:19:25,026 --> 01:19:27,329 But still gives you that ability 722 01:19:27,796 --> 01:19:29,931 to create time for yourself. 723 01:19:30,532 --> 01:19:30,966 Gotcha. 724 01:19:30,966 --> 01:19:31,933 And when you say create time, 725 01:19:31,933 --> 01:19:32,601 that's something I've heard 726 01:19:33,034 --> 01:19:34,369 from people in the aviation industry 727 01:19:34,536 --> 01:19:36,972 about treating a jet 728 01:19:36,972 --> 01:19:38,607 like it's a time machine. 729 01:19:38,607 --> 01:19:39,808 It gets you time back, 730 01:19:39,808 --> 01:19:40,509 because you don't have 731 01:19:40,509 --> 01:19:42,043 to spend an entire day 732 01:19:42,978 --> 01:19:44,112 going through TSA and 733 01:19:44,112 --> 01:19:45,213 airports and all this stuff. 734 01:19:45,213 --> 01:19:46,982 You just go out and get on your jet. 735 01:19:47,716 --> 01:19:49,784 Or you're turboprop. 736 01:19:50,252 --> 01:19:50,852 Yeah, exactly. 737 01:19:51,553 --> 01:19:54,222 So airplanes, we know for a fact 738 01:19:54,823 --> 01:19:56,691 that as far as growth of a business 739 01:19:57,692 --> 01:19:58,560 can be related back 740 01:19:58,560 --> 01:20:00,228 to aircraft ownership. 741 01:20:00,228 --> 01:20:01,329 We'll just call it aircraft ownership. 742 01:20:02,063 --> 01:20:03,865 So whatever can move 743 01:20:03,865 --> 01:20:06,334 your sales, your CEO, 744 01:20:07,002 --> 01:20:08,470 whoever happens to be the person 745 01:20:08,470 --> 01:20:10,005 that's making that company grow. 746 01:20:10,705 --> 01:20:12,707 If you can get that person moving, 747 01:20:13,508 --> 01:20:14,943 your business is gonna grow. 748 01:20:15,243 --> 01:20:16,645 And I don't wanna quote 749 01:20:16,645 --> 01:20:17,946 the rate it's gonna grow, 750 01:20:17,946 --> 01:20:18,880 but it's gonna grow. 751 01:20:19,581 --> 01:20:20,982 I mean, anytime you can get 752 01:20:20,982 --> 01:20:22,284 more FaceTime with customers 753 01:20:22,551 --> 01:20:25,353 and get your people out is good. 754 01:20:25,820 --> 01:20:27,155 Which is why in the 755 01:20:27,155 --> 01:20:28,390 United States we have what? 756 01:20:28,390 --> 01:20:31,459 16,000 corporate private 757 01:20:31,459 --> 01:20:32,594 airplanes flying around. 758 01:20:33,028 --> 01:20:34,496 So do you find that a lot of people 759 01:20:34,763 --> 01:20:35,363 when they start to 760 01:20:35,363 --> 01:20:36,264 talk about jet ownership, 761 01:20:36,431 --> 01:20:37,866 it's not their first rodeo with aircraft? 762 01:20:38,333 --> 01:20:38,767 That's right. 763 01:20:39,201 --> 01:20:40,368 Okay, so they've 764 01:20:40,368 --> 01:20:41,670 already been on that path 765 01:20:41,670 --> 01:20:42,304 for a little while. 766 01:20:42,304 --> 01:20:43,371 They've already figured out, 767 01:20:43,905 --> 01:20:45,073 okay, maybe I've got a 768 01:20:45,073 --> 01:20:47,275 time machine that can save me, 769 01:20:47,309 --> 01:20:48,176 I don't know, 10 hours 770 01:20:48,176 --> 01:20:49,711 here, 12 hours there, 771 01:20:50,412 --> 01:20:52,147 but I need something that can get me 772 01:20:52,681 --> 01:20:54,516 where I need to go like now. 773 01:20:54,916 --> 01:20:55,717 Right, exactly. 774 01:20:56,952 --> 01:20:57,686 Growth of business, 775 01:20:57,686 --> 01:20:58,486 directly proportional. 776 01:20:58,920 --> 01:21:00,055 Yeah, what are some other things 777 01:21:00,055 --> 01:21:02,324 that might disqualify me outside of cost? 778 01:21:02,357 --> 01:21:02,591 Cost? 779 01:21:02,858 --> 01:21:05,393 Yeah, outside of my financial situation. 780 01:21:06,428 --> 01:21:10,365 Disqualifiers, cost is 781 01:21:10,365 --> 01:21:11,132 gonna be the biggest. 782 01:21:11,166 --> 01:21:12,467 Money makes things move, right? 783 01:21:12,467 --> 01:21:12,667 Right. 784 01:21:13,134 --> 01:21:14,035 So if you got the 785 01:21:14,035 --> 01:21:15,003 money, we can make it real. 786 01:21:15,604 --> 01:21:17,005 You can get it, you get into it. 787 01:21:17,472 --> 01:21:17,973 And you don't 788 01:21:17,973 --> 01:21:19,407 necessarily have to have a lot. 789 01:21:20,208 --> 01:21:23,144 Other things that people are sensitive to 790 01:21:23,445 --> 01:21:25,947 and more so companies are optics. 791 01:21:27,215 --> 01:21:28,283 I've heard a little bit of this 792 01:21:28,450 --> 01:21:30,886 as we've spoken with people in aviation. 793 01:21:31,119 --> 01:21:34,756 It's I don't want to be flashy about 794 01:21:34,756 --> 01:21:36,725 flying my jet around. 795 01:21:36,992 --> 01:21:38,526 Right, because again, 796 01:21:38,894 --> 01:21:41,029 worried about investors in your company. 797 01:21:41,129 --> 01:21:41,363 Sure. 798 01:21:41,930 --> 01:21:43,164 What's their thought if I 799 01:21:43,164 --> 01:21:44,366 go out and buy this jet? 800 01:21:44,599 --> 01:21:46,234 The response to that is 801 01:21:46,234 --> 01:21:47,469 what we just talked about. 802 01:21:47,502 --> 01:21:47,769 Sure. 803 01:21:48,536 --> 01:21:49,604 I wanna grow this company, 804 01:21:49,838 --> 01:21:50,905 I wanna make it profitable. 805 01:21:51,640 --> 01:21:54,643 I wanna make us king of the world, 806 01:21:54,909 --> 01:21:57,746 which would be every CEO's response. 807 01:21:58,413 --> 01:22:00,148 So to do that, I need time. 808 01:22:00,382 --> 01:22:02,584 I need to make my time worth every penny. 809 01:22:02,584 --> 01:22:04,052 I've gotta be here, here and here. 810 01:22:04,753 --> 01:22:05,553 And they're very important. 811 01:22:06,021 --> 01:22:08,256 Are commercial airlines gonna do that? 812 01:22:08,590 --> 01:22:08,957 No. 813 01:22:10,959 --> 01:22:12,160 More and more people are traveling, 814 01:22:12,394 --> 01:22:13,428 airlines are saturated. 815 01:22:14,696 --> 01:22:18,066 Planes are breaking 816 01:22:18,066 --> 01:22:19,534 down, you're getting delays. 817 01:22:20,368 --> 01:22:22,270 ATC system is getting bogged down. 818 01:22:22,837 --> 01:22:24,306 We see this in the news, nonstop. 819 01:22:25,173 --> 01:22:26,308 What's the alternative? 820 01:22:27,008 --> 01:22:28,643 Having your own source 821 01:22:28,643 --> 01:22:29,844 of air transportation. 822 01:22:30,578 --> 01:22:31,479 So get a plane. 823 01:22:31,947 --> 01:22:33,248 And that's what we're seeing, right? 824 01:22:33,248 --> 01:22:34,849 We're seeing that kind of scaling in. 825 01:22:35,583 --> 01:22:39,421 But yeah, optics do play a part in it. 826 01:22:39,421 --> 01:22:41,623 So to roll back some of those comments, 827 01:22:42,590 --> 01:22:43,591 you have to kind of 828 01:22:43,591 --> 01:22:45,927 thread the needle with a board 829 01:22:46,194 --> 01:22:48,263 or whoever you're dealing with, a CFO. 830 01:22:49,531 --> 01:22:49,631 Sure. 831 01:22:49,631 --> 01:22:49,965 Well, because you 832 01:22:49,965 --> 01:22:51,132 gotta justify it, right? 833 01:22:51,833 --> 01:22:53,268 What's the justification of that? 834 01:22:53,768 --> 01:22:57,172 And that's where we can help as well. 835 01:22:57,539 --> 01:22:58,974 Because with my background, of course, 836 01:22:59,441 --> 01:23:00,108 being in corporate 837 01:23:00,108 --> 01:23:01,609 aviation, working for companies, 838 01:23:01,910 --> 01:23:04,212 was annually selling that 839 01:23:04,212 --> 01:23:04,980 airplane to the company. 840 01:23:05,447 --> 01:23:07,248 Here's the value that you're 841 01:23:07,248 --> 01:23:08,750 getting out of this machine. 842 01:23:09,284 --> 01:23:09,984 Because the bean chowder's 843 01:23:09,984 --> 01:23:10,785 got it on the shopping pool. 844 01:23:10,785 --> 01:23:11,319 That's right. 845 01:23:11,353 --> 01:23:11,786 Every year. 846 01:23:11,786 --> 01:23:12,087 That's right. 847 01:23:12,620 --> 01:23:14,556 This is an expense that we don't need. 848 01:23:15,023 --> 01:23:16,524 Well, actually, that 849 01:23:16,524 --> 01:23:19,294 expense made X amount of dollars 850 01:23:19,661 --> 01:23:22,330 because this person was at this meeting 851 01:23:22,330 --> 01:23:23,531 and made that deal happen. 852 01:23:23,898 --> 01:23:24,632 Right, right. 853 01:23:25,166 --> 01:23:25,934 A lot of times those 854 01:23:25,934 --> 01:23:27,469 dots don't get connected 855 01:23:28,002 --> 01:23:29,771 in the accounting room or the finances. 856 01:23:30,138 --> 01:23:30,338 Sure. 857 01:23:30,572 --> 01:23:31,506 People don't see that. 858 01:23:32,007 --> 01:23:35,110 But that's kind of our job 859 01:23:35,276 --> 01:23:37,512 and what's your aviation director's job. 860 01:23:37,512 --> 01:23:38,446 And if you don't have one, 861 01:23:39,014 --> 01:23:40,115 we'll gladly step in 862 01:23:40,115 --> 01:23:41,082 and kind of fill that role 863 01:23:41,082 --> 01:23:43,151 and say, look, looking at your company, 864 01:23:43,418 --> 01:23:44,119 looking at what you're 865 01:23:44,119 --> 01:23:45,787 doing, what you're making, 866 01:23:46,287 --> 01:23:47,589 can you justify an airplane? 867 01:23:48,423 --> 01:23:50,125 We'll give you a thumbs up or a thumbs, 868 01:23:50,125 --> 01:23:51,626 no, it's not gonna help you right now. 869 01:23:51,726 --> 01:23:52,394 Right, right. 870 01:23:53,395 --> 01:23:54,829 Looking at other brokerage firms, 871 01:23:55,597 --> 01:23:56,798 I'm not sure how far other 872 01:23:56,798 --> 01:23:58,233 brokerage firms go into that. 873 01:23:58,800 --> 01:24:00,435 Our brokerage firm is the 874 01:24:00,435 --> 01:24:01,903 only one that has a person 875 01:24:01,903 --> 01:24:02,804 that's ever done that. 876 01:24:05,507 --> 01:24:11,112 (laughing) So when it comes to CEOX 877 01:24:11,112 --> 01:24:12,247 coming to me and saying, 878 01:24:12,247 --> 01:24:13,081 Jason, I really wanna get 879 01:24:13,081 --> 01:24:14,849 a jet, I think we need one. 880 01:24:15,383 --> 01:24:16,084 I'm getting a lot of 881 01:24:16,084 --> 01:24:17,218 pushback in the company. 882 01:24:17,952 --> 01:24:18,720 But I think we're there. 883 01:24:19,020 --> 01:24:19,254 Yeah. 884 01:24:19,287 --> 01:24:20,555 How can you help us with this? 885 01:24:20,588 --> 01:24:21,756 Help us present our case. 886 01:24:21,823 --> 01:24:22,390 Absolutely. 887 01:24:22,690 --> 01:24:22,857 Yeah. 888 01:24:23,491 --> 01:24:25,093 So we'll come in, have the conversations, 889 01:24:25,493 --> 01:24:26,461 make the presentation, 890 01:24:27,095 --> 01:24:28,129 here's what we think 891 01:24:28,129 --> 01:24:29,564 you can get out of this. 892 01:24:30,265 --> 01:24:32,133 We're willing to do that for anybody. 893 01:24:32,500 --> 01:24:34,602 If we can help you build your business, 894 01:24:35,270 --> 01:24:36,070 we're gonna do it. 895 01:24:36,838 --> 01:24:38,239 It's not so much, and 896 01:24:38,239 --> 01:24:39,774 we obviously sell jets, 897 01:24:39,774 --> 01:24:41,142 but it's not so much selling the jet 898 01:24:41,743 --> 01:24:43,411 as it is helping people grow, right? 899 01:24:43,611 --> 01:24:44,179 Yeah, well, it's the 900 01:24:44,179 --> 01:24:45,346 opportunity it creates, right? 901 01:24:45,647 --> 01:24:45,747 Yeah, absolutely. 902 01:24:45,747 --> 01:24:46,781 It's the upside. 903 01:24:47,348 --> 01:24:48,383 I feel like so many 904 01:24:48,383 --> 01:24:50,285 people, they look at finances 905 01:24:50,285 --> 01:24:51,186 and they look at like, 906 01:24:51,186 --> 01:24:52,120 oh, well, this is a cost, 907 01:24:52,120 --> 01:24:53,254 is a downside, et cetera. 908 01:24:53,621 --> 01:24:54,823 But what are you 909 01:24:54,823 --> 01:24:55,890 gaining by having the ability 910 01:24:55,890 --> 01:24:57,792 to be across the 911 01:24:57,792 --> 01:25:00,295 country within a few hours? 912 01:25:00,395 --> 01:25:00,695 Right. 913 01:25:00,695 --> 01:25:01,029 You know? 914 01:25:01,262 --> 01:25:01,529 Right. 915 01:25:01,596 --> 01:25:02,464 That's a lot. 916 01:25:02,497 --> 01:25:03,097 Yep, exactly. 917 01:25:03,398 --> 01:25:04,232 And it can move things. 918 01:25:04,265 --> 01:25:05,033 Yep, yep. 919 01:25:05,300 --> 01:25:07,535 I mean, it's where it's at, right? 920 01:25:08,803 --> 01:25:09,504 We're in a high speed 921 01:25:09,504 --> 01:25:11,840 world with the technologies 922 01:25:11,840 --> 01:25:13,575 that we have and the 923 01:25:13,575 --> 01:25:15,009 abilities we have to communicate 924 01:25:15,210 --> 01:25:16,244 and et cetera, et cetera. 925 01:25:16,945 --> 01:25:17,979 But there's still that 926 01:25:17,979 --> 01:25:19,948 personable shaking somebody's hand 927 01:25:19,948 --> 01:25:20,715 and pressing flesh 928 01:25:20,715 --> 01:25:23,952 that makes things move. 929 01:25:24,385 --> 01:25:25,687 Outside of a business use case, 930 01:25:25,954 --> 01:25:27,255 I know it's like justifying 931 01:25:27,255 --> 01:25:29,491 business-wise, right? 932 01:25:29,924 --> 01:25:31,426 A, having some money, right? 933 01:25:31,726 --> 01:25:32,527 Having enough money to, 934 01:25:33,094 --> 01:25:34,929 and it scales up as you go, 935 01:25:34,929 --> 01:25:35,897 is what it sounds like, right? 936 01:25:36,264 --> 01:25:36,464 Sure. 937 01:25:36,598 --> 01:25:37,599 In order to even be 938 01:25:37,599 --> 01:25:38,700 thinking about getting started, 939 01:25:38,700 --> 01:25:39,334 I've gotta have a few 940 01:25:39,334 --> 01:25:40,368 million in the bank, right? 941 01:25:41,002 --> 01:25:42,303 And then I've gotta 942 01:25:42,303 --> 01:25:43,905 potentially be on an upward trajectory 943 01:25:44,105 --> 01:25:46,374 with my business and have 944 01:25:46,374 --> 01:25:47,375 a good business use case 945 01:25:47,375 --> 01:25:48,543 in order to justify it, 946 01:25:48,743 --> 01:25:50,111 either to the bean counter 947 01:25:50,111 --> 01:25:53,148 to myself or my wife or whoever, right? 948 01:25:53,815 --> 01:25:54,616 Because it's expensive. 949 01:25:55,517 --> 01:25:59,354 But if the upside outweighs that expense, 950 01:25:59,787 --> 01:26:01,022 well then maybe it 951 01:26:01,022 --> 01:26:01,923 becomes a good decision. 952 01:26:02,624 --> 01:26:04,459 And so are there any other 953 01:26:04,459 --> 01:26:05,326 things that I need to think about 954 01:26:05,326 --> 01:26:06,060 in terms of qualifying 955 01:26:06,060 --> 01:26:08,263 myself to have a conversation 956 01:26:08,429 --> 01:26:11,533 about jet ownership other than that-- 957 01:26:11,633 --> 01:26:12,634 Outside of a company use. 958 01:26:13,067 --> 01:26:15,803 Maybe I don't have a good 959 01:26:15,803 --> 01:26:17,238 business use case for it, right? 960 01:26:17,372 --> 01:26:18,806 Maybe I don't travel as 961 01:26:18,806 --> 01:26:20,575 much as somebody that does. 962 01:26:21,276 --> 01:26:24,345 Well, again, strictly tied to finances. 963 01:26:25,446 --> 01:26:26,447 But if you have the 964 01:26:26,447 --> 01:26:28,850 ability to fly privately, 965 01:26:29,884 --> 01:26:31,553 I think it was one of our previous guests 966 01:26:31,719 --> 01:26:32,720 that brought this up. 967 01:26:32,720 --> 01:26:35,056 I mean, once you taste that life 968 01:26:35,056 --> 01:26:37,192 and once you know what that feels like, 969 01:26:37,292 --> 01:26:38,293 you're never gonna roll 970 01:26:38,293 --> 01:26:40,495 back to parking your car, 971 01:26:40,495 --> 01:26:42,330 going to the counter, going through TSA, 972 01:26:42,830 --> 01:26:43,698 et cetera, et cetera. 973 01:26:43,731 --> 01:26:43,932 Sure. 974 01:26:44,332 --> 01:26:45,667 Now it's just a luxury 975 01:26:45,667 --> 01:26:46,067 I can't live without. 976 01:26:46,067 --> 01:26:47,135 Now it's a luxury, yes. 977 01:26:47,969 --> 01:26:50,572 And if you're traveling a fair amount, 978 01:26:50,572 --> 01:26:53,341 say we're talking about people with homes 979 01:26:53,341 --> 01:26:54,409 in different places, 980 01:26:55,143 --> 01:26:56,211 et cetera, et cetera, 981 01:26:56,211 --> 01:26:57,345 well now you have a tool 982 01:26:57,345 --> 01:26:59,447 to get you from A to B, 983 01:26:59,948 --> 01:27:01,249 very comfortably, very 984 01:27:01,249 --> 01:27:03,751 leisurely, not so stressful. 985 01:27:04,986 --> 01:27:05,186 Yeah. 986 01:27:05,186 --> 01:27:06,454 So even if I'm somebody who will say, 987 01:27:06,454 --> 01:27:08,222 let's say I got lucky in crypto, right? 988 01:27:08,356 --> 01:27:10,191 Let's say I invested a lot 989 01:27:10,191 --> 01:27:11,192 and made a bunch of money 990 01:27:11,192 --> 01:27:12,193 on Bitcoin. Sure. 991 01:27:12,560 --> 01:27:15,597 And here I am with a bunch of cash, 992 01:27:15,964 --> 01:27:17,932 but no real good business use case 993 01:27:17,932 --> 01:27:18,967 for like why I've gotta 994 01:27:18,967 --> 01:27:20,535 travel, it's just I want to. 995 01:27:21,135 --> 01:27:23,004 Sometimes for somebody like that, 996 01:27:23,438 --> 01:27:25,406 it might make sense too, just from the 997 01:27:25,406 --> 01:27:26,174 lifestyle perspective? 998 01:27:26,174 --> 01:27:26,407 Yeah, for sure. 999 01:27:27,008 --> 01:27:27,709 And then you don't have 1000 01:27:27,709 --> 01:27:28,610 to justify to investors. 1001 01:27:28,943 --> 01:27:30,478 Well right, you don't have 1002 01:27:30,478 --> 01:27:31,746 to adjust even better, right? 1003 01:27:32,013 --> 01:27:34,048 But if you have disposable income 1004 01:27:34,048 --> 01:27:37,252 and you just want that lifestyle 1005 01:27:37,719 --> 01:27:40,054 and have that flexibility and you travel 1006 01:27:40,655 --> 01:27:41,256 and you want to see 1007 01:27:41,256 --> 01:27:42,657 places, you want to go places, 1008 01:27:42,657 --> 01:27:43,424 you want to do things, 1009 01:27:44,158 --> 01:27:45,693 it's the way to do it, right? 1010 01:27:45,927 --> 01:27:46,294 Nice. 1011 01:27:46,327 --> 01:27:48,596 So it's, do I take 1012 01:27:48,596 --> 01:27:51,232 the bus to the ballpark 1013 01:27:51,599 --> 01:27:52,467 or do I take the 1014 01:27:52,467 --> 01:27:53,534 Rolls-Royce to the ballpark? 1015 01:27:53,768 --> 01:27:55,169 Nice, nothing in between. 1016 01:27:55,169 --> 01:27:56,070 Nothing in between. 1017 01:27:56,070 --> 01:27:56,704 It's a bus or 1018 01:27:56,704 --> 01:27:57,572 Rolls-Royce, that's why you get it. 1019 01:27:57,605 --> 01:27:59,173 Well we have in between too, but sure. 1020 01:27:59,807 --> 01:28:01,509 It's a lifestyle 1021 01:28:01,509 --> 01:28:02,944 decision, right, at that point. 1022 01:28:02,944 --> 01:28:04,412 Yeah, and sometimes there's 1023 01:28:04,412 --> 01:28:05,647 some gray area too, right? 1024 01:28:05,647 --> 01:28:07,649 Where people that are like CEOs or 1025 01:28:07,649 --> 01:28:08,383 executives and companies 1026 01:28:08,750 --> 01:28:09,684 that have access to these 1027 01:28:09,684 --> 01:28:10,752 jets through the company, 1028 01:28:11,419 --> 01:28:12,487 they can take their family 1029 01:28:12,487 --> 01:28:13,788 on a nice vacation somewhere, 1030 01:28:14,055 --> 01:28:16,224 they can use it in 1031 01:28:16,224 --> 01:28:17,759 those ways as well, right? 1032 01:28:17,759 --> 01:28:19,694 So it's not strictly one or the other. 1033 01:28:20,028 --> 01:28:22,130 Yeah, so when we, you know, granted we 1034 01:28:22,130 --> 01:28:22,697 have the opportunity 1035 01:28:22,964 --> 01:28:23,831 to talk to a company 1036 01:28:23,831 --> 01:28:25,933 that's looking at this 1037 01:28:25,933 --> 01:28:28,102 and they don't have an 1038 01:28:28,102 --> 01:28:29,537 airplane in use currently, 1039 01:28:30,305 --> 01:28:31,706 you know, we talk about that too. 1040 01:28:31,939 --> 01:28:34,475 So it's another tool for a company to 1041 01:28:34,475 --> 01:28:35,710 attract talent, right? 1042 01:28:36,044 --> 01:28:37,512 So here's another usage. 1043 01:28:37,612 --> 01:28:38,012 Okay. 1044 01:28:38,546 --> 01:28:40,448 We wanna hire so and so 1045 01:28:40,448 --> 01:28:41,649 to be the head of finance, 1046 01:28:41,649 --> 01:28:42,550 to be our CFO. 1047 01:28:43,251 --> 01:28:45,553 Well so and so lives in New York. 1048 01:28:46,387 --> 01:28:47,855 Our company is in 1049 01:28:47,855 --> 01:28:50,458 Vermont, but we have this jet. 1050 01:28:50,858 --> 01:28:51,059 Yeah. 1051 01:28:51,726 --> 01:28:52,193 Guess what? 1052 01:28:52,560 --> 01:28:53,528 Now you have more 1053 01:28:53,528 --> 01:28:54,662 access to hire that guy. 1054 01:28:54,862 --> 01:28:56,331 We'll pick you up on Monday, 1055 01:28:56,331 --> 01:28:57,565 we'll take you back on Thursday. 1056 01:28:57,965 --> 01:28:59,333 You know, so you see some of that. 1057 01:28:59,567 --> 01:28:59,767 Yeah. 1058 01:29:00,301 --> 01:29:01,636 So jets aren't just for 1059 01:29:01,636 --> 01:29:03,971 building financial pieces 1060 01:29:03,971 --> 01:29:06,007 of a company, but also personnel pieces 1061 01:29:06,007 --> 01:29:06,908 of a company as well. 1062 01:29:07,308 --> 01:29:08,076 And you also see 1063 01:29:08,076 --> 01:29:10,011 companies that will run shuttles. 1064 01:29:10,011 --> 01:29:11,546 So they'll run, you know, 1065 01:29:11,546 --> 01:29:13,181 high density type airplanes 1066 01:29:13,448 --> 01:29:14,582 and they'll run people from 1067 01:29:14,582 --> 01:29:16,984 state to state to do audits, 1068 01:29:16,984 --> 01:29:18,553 to do whatever they're needing to do. 1069 01:29:18,953 --> 01:29:19,120 Yeah. 1070 01:29:19,787 --> 01:29:22,857 And we saw that a lot and a company IBM, 1071 01:29:23,157 --> 01:29:24,025 I'll talk about them. 1072 01:29:24,492 --> 01:29:26,194 They move people from New York city 1073 01:29:26,427 --> 01:29:27,895 and upper state New York, 1074 01:29:27,895 --> 01:29:28,963 wherever they had to move them. 1075 01:29:29,230 --> 01:29:29,997 So I mean, there's a 1076 01:29:29,997 --> 01:29:31,699 lot of different tools 1077 01:29:31,699 --> 01:29:33,034 that the airplane can do. 1078 01:29:33,434 --> 01:29:33,701 Right. 1079 01:29:33,735 --> 01:29:34,869 Or function as. 1080 01:29:35,403 --> 01:29:37,271 But if I'm just getting started, 1081 01:29:37,839 --> 01:29:40,775 it's getting, trying to 1082 01:29:40,775 --> 01:29:42,143 vent myself as far as like, 1083 01:29:42,143 --> 01:29:43,044 I've got to, I probably 1084 01:29:43,044 --> 01:29:44,178 want to have a couple million. 1085 01:29:44,445 --> 01:29:44,979 I probably want to 1086 01:29:44,979 --> 01:29:46,147 have a business use case. 1087 01:29:46,147 --> 01:29:46,614 I probably want to 1088 01:29:46,614 --> 01:29:47,715 have some kind of upside. 1089 01:29:48,282 --> 01:29:49,450 Not just the luxury thing. 1090 01:29:49,450 --> 01:29:50,885 Maybe I'm working towards it, right? 1091 01:29:50,885 --> 01:29:51,753 I'm over here hustling. 1092 01:29:52,720 --> 01:29:56,724 And in order to get these deals closed, 1093 01:29:56,724 --> 01:29:57,291 in order to meet with 1094 01:29:57,291 --> 01:29:58,393 prospects and clients, 1095 01:29:58,893 --> 01:30:00,528 I need to be where they are. 1096 01:30:00,962 --> 01:30:02,964 And I need to have, you know, 1097 01:30:02,964 --> 01:30:04,732 air transportation to do that. 1098 01:30:04,799 --> 01:30:06,100 Maybe start off small, work 1099 01:30:06,100 --> 01:30:07,535 my way through fractional, 1100 01:30:07,769 --> 01:30:09,470 and then get into, you know, 1101 01:30:09,837 --> 01:30:12,373 maybe a smaller jet to start with, 1102 01:30:12,573 --> 01:30:13,508 and work my way into a bigger one, 1103 01:30:13,508 --> 01:30:14,609 or an older jet to start with, 1104 01:30:14,609 --> 01:30:15,610 and work my way into a newer one. 1105 01:30:16,043 --> 01:30:16,844 Those are a couple of paths. 1106 01:30:17,044 --> 01:30:17,512 Those are paths. 1107 01:30:17,912 --> 01:30:18,112 Yeah. 1108 01:30:18,246 --> 01:30:19,714 And again, we're going to explore 1109 01:30:20,348 --> 01:30:22,817 every scenario we can think of, 1110 01:30:22,917 --> 01:30:25,520 and whatever tools we need to use 1111 01:30:25,520 --> 01:30:26,854 to get to those scenarios 1112 01:30:26,854 --> 01:30:28,256 and build it out for you. 1113 01:30:28,456 --> 01:30:29,090 You know, you brought 1114 01:30:29,090 --> 01:30:30,191 up, you know, finance. 1115 01:30:30,625 --> 01:30:33,227 The other side of what we'll do is, 1116 01:30:33,327 --> 01:30:34,429 as Aspen Aero Group. 1117 01:30:34,762 --> 01:30:36,431 Is once we start this 1118 01:30:36,431 --> 01:30:37,532 conversation with you, 1119 01:30:37,999 --> 01:30:38,933 we also have friends 1120 01:30:38,933 --> 01:30:39,801 in the finance world. 1121 01:30:39,801 --> 01:30:41,202 We have friends in the tax world. 1122 01:30:41,669 --> 01:30:42,303 So we're going to start 1123 01:30:42,303 --> 01:30:44,372 talking to these people right away. 1124 01:30:45,106 --> 01:30:46,774 And hey, what can company X 1125 01:30:46,774 --> 01:30:48,643 do as far as depreciation? 1126 01:30:49,277 --> 01:30:50,945 What can they do as far as financing? 1127 01:30:51,646 --> 01:30:53,815 You know, you might have $5 million 1128 01:30:53,815 --> 01:30:55,082 sitting in the bank, 1129 01:30:55,082 --> 01:30:55,983 and you say, "I'm going 1130 01:30:55,983 --> 01:30:56,784 to use that $5 million 1131 01:30:56,784 --> 01:30:57,485 to buy an airplane." 1132 01:30:58,019 --> 01:30:58,653 Well, that might not 1133 01:30:58,653 --> 01:30:59,587 be the best decision. 1134 01:31:00,321 --> 01:31:00,988 So we're going to bring 1135 01:31:00,988 --> 01:31:02,023 in experts in that field 1136 01:31:02,223 --> 01:31:03,624 to say, "Hey, look, it's 1137 01:31:03,624 --> 01:31:05,393 best you take, you know, 1138 01:31:05,593 --> 01:31:07,462 $4 million of that, put it 1139 01:31:07,462 --> 01:31:08,729 into some other investment, 1140 01:31:09,263 --> 01:31:10,765 and put a million into financing 1141 01:31:11,032 --> 01:31:11,566 because it's going to 1142 01:31:11,566 --> 01:31:12,600 be cheaper for you." 1143 01:31:12,800 --> 01:31:12,967 Right. 1144 01:31:13,000 --> 01:31:13,501 You're going to make more money. 1145 01:31:13,534 --> 01:31:15,136 Use somebody else's money to buy the jet, 1146 01:31:15,269 --> 01:31:16,671 and just add that as collateral. 1147 01:31:16,737 --> 01:31:17,905 And that's not my world. 1148 01:31:18,005 --> 01:31:18,272 Sure. 1149 01:31:18,306 --> 01:31:20,408 But we know people that do that. 1150 01:31:20,408 --> 01:31:20,575 Yeah. 1151 01:31:20,608 --> 01:31:21,976 And so they're part of our team. 1152 01:31:22,510 --> 01:31:22,710 Okay. 1153 01:31:23,211 --> 01:31:24,378 That we use to make 1154 01:31:24,378 --> 01:31:26,414 these conversations happen. 1155 01:31:26,814 --> 01:31:29,250 So having some assets, having a use case, 1156 01:31:29,717 --> 01:31:30,818 being on that path, those 1157 01:31:30,818 --> 01:31:31,986 are all good starting points. 1158 01:31:32,286 --> 01:31:33,588 Let's say I'm qualified, 1159 01:31:34,255 --> 01:31:35,790 and let's end it right 1160 01:31:35,790 --> 01:31:37,024 there for this episode. 1161 01:31:37,425 --> 01:31:38,559 Because the next episode, 1162 01:31:38,893 --> 01:31:40,294 what I want to do is talk about, 1163 01:31:40,328 --> 01:31:41,262 okay, now let's talk 1164 01:31:41,262 --> 01:31:42,530 about the kinds of jets 1165 01:31:42,763 --> 01:31:44,332 that I might be qualified for. 1166 01:31:44,398 --> 01:31:44,866 Perfect. 1167 01:31:44,899 --> 01:31:46,334 And what I might want to 1168 01:31:46,334 --> 01:31:47,134 bring to the table to you 1169 01:31:47,134 --> 01:31:48,069 as far as like, "Hey, this 1170 01:31:48,069 --> 01:31:49,203 is what I'm thinking about. 1171 01:31:49,704 --> 01:31:51,205 What do you think about this?" 1172 01:31:51,906 --> 01:31:53,774 I'll throw some stuff at you. 1173 01:31:53,774 --> 01:31:54,375 Oh no. 1174 01:31:54,408 --> 01:31:56,611 See, we'll see you 1175 01:31:56,611 --> 01:31:57,612 swat down all my ideas. 1176 01:31:58,813 --> 01:31:59,046 Yeah, awesome. 1177 01:31:59,547 --> 01:32:00,581 All right, anyway, so 1178 01:32:00,581 --> 01:32:01,349 that was a good exploration 1179 01:32:01,749 --> 01:32:03,584 of kind of what we 1180 01:32:03,584 --> 01:32:04,752 would do to qualify somebody 1181 01:32:05,987 --> 01:32:07,355 for jet ownership or 1182 01:32:07,355 --> 01:32:08,756 aircraft ownership in general. 1183 01:32:09,290 --> 01:32:10,825 And I think this is a 1184 01:32:10,825 --> 01:32:12,126 fun kind of little series, 1185 01:32:12,126 --> 01:32:12,927 kind of little exercise. 1186 01:32:13,694 --> 01:32:15,296 And see if we can get all the way to 1187 01:32:15,296 --> 01:32:16,764 purchasing something 1188 01:32:16,864 --> 01:32:18,833 and actually owning a jet 1189 01:32:18,833 --> 01:32:20,868 and seeing where it goes. 1190 01:32:20,868 --> 01:32:22,637 So yeah, let's keep this going. 1191 01:32:22,637 --> 01:32:23,004 Make sure you're 1192 01:32:23,004 --> 01:32:23,671 subscribed to the channel 1193 01:32:23,671 --> 01:32:24,605 and you'll get the next one as well. 1194 01:32:25,573 --> 01:32:27,141 But yeah, it's been a good time, 1195 01:32:27,275 --> 01:32:28,376 and join us next time 1196 01:32:28,376 --> 01:32:29,143 where we will learn more 1197 01:32:29,143 --> 01:32:30,811 about what it takes to own the jet. 1198 01:32:31,312 --> 01:32:32,547 Thank you for watching Own the Jet. 1199 01:32:32,947 --> 01:32:34,148 If you wanna see more Own the Jet, 1200 01:32:34,415 --> 01:32:35,149 make sure to subscribe 1201 01:32:35,149 --> 01:32:36,183 to our channel on YouTube 1202 01:32:36,183 --> 01:32:37,652 and leave a comment telling us what 1203 01:32:37,652 --> 01:32:38,786 aspect of jet ownership 1204 01:32:38,986 --> 01:32:40,087 you'd like to know more about. 1205 01:32:40,688 --> 01:32:41,489 Own the Jet is brought to 1206 01:32:41,489 --> 01:32:42,590 you by Aspen Aero Group, 1207 01:32:42,924 --> 01:32:44,559 your trusted partner in private and 1208 01:32:44,559 --> 01:32:45,593 corporate jet ownership. 1209 01:32:46,093 --> 01:32:48,129 Learn more at AspenAeroGroup.com. 1210 01:32:48,596 --> 01:32:50,164 This has been a Savage Media production.