Welcome to a very
special episode of Own the Jet,
where we will be
going through the process
of what it's like to own a jet.
So a lot of the episodes
that we've had up until now,
we've talked to various
people in the industry.
We've talked to people that are experts
at various aspects of jet ownership.
But what we haven't
yet done is walked you
through the process of what it's like
to go through jet purchasing.
So we'd like to do that
in these next few episodes
we're gonna put together.
But the first step in
that process is understanding
whether you are to the point where you
actually need a jet.
Welcome to Own the
Jet by Aspen Aero Group,
where we share perspectives
from some of the leading voices
in private jet
ownership and business aviation.
I'm your host, Derek Savage,
along with my co-host, Jason Spoor,
president of Aspen Aero Group.
Join us as we dive deep
into the mechanics, mindset,
and moments that define jet ownership.
And together, we'll learn
what it takes to own the jet.
So this is basically like a discovery,
qualification sort of
conversation with me.
And we're gonna pretend
like I'm somebody that is,
you know, in the market for a jet.
Why do you pretend, Derek?
I'm in the market for a jet.
Let's do it.
I'm gonna, I'm actually, maybe I am in
the market for a jet.
You might be. I might be.
By the end of this
conversation, you'll have me convinced.
So let's say that I'm coming
to you as an aircraft broker,
and I'm saying to you, you know what?
I think I might be ready to own a jet.
Maybe I have a jet in mind.
Maybe I have a flight mission in mind,
or a few things that I wanna do in mind
in terms of why I wanna own a jet.
And I have, you know, my,
let's say I have a business,
and I have a financial
situation, et cetera.
So what are some of the first things
that you would wanna know from me,
and some of the first
things that I should probably
be asking myself in regards to that?
Yeah, so I mean, right
out of the gate, you know,
we're gonna wanna know
what your interest is,
and why, obviously, from a high level.
Yeah, okay, so what do
you think is the scenario?
What was it exposure?
Did you fly on a friend's airplane?
Was it a charter flight you did?
You know, where is this curiosity
interest coming from?
Yeah, yeah. What is your level?
And that, what we're doing there
is gauging your level of interest.
Okay, so-- Are you just kinda asking,
or you're really serious?
No, let's do a scenario.
Let's do a scenario.
So let's say that I have
been chartering flights.
I'm a business owner,
and I am flying regularly
to a couple of, let's
say I'm based in Chicago,
and I'm flying to New
York, and I'm flying to Dallas,
and I'm flying to Florida on the regular.
And let's say it's maybe
once, sometimes twice a week.
Yeah.
And I'm a busy guy, I'm an important guy.
And a lot of people need to talk to me.
Definitely busy.
I'm busy, I'm busy.
Maybe not, well, we'll see.
It's subjective. In your world, yeah.
But let's say I've got
a lot of travel, right?
And I'm thinking, I've been
chartering flights, right?
I've been flying privately for a while,
and maybe it's getting expensive,
and maybe I'm in the
market for something.
I don't know what I'm in the market for,
but I know that jet ownership
might be in the cards for me.
So let's talk about, so what
do you need to know from me,
and what do I need to know from myself?
Yeah, I mean,
definitely a lot of questions,
and everybody's situation is different.
Yeah.
And everybody's thought of
an airplane is different.
Yeah.
You know, so in the charter world,
you have the capability,
depending on how much you wanna spend,
to charter anything up
to an airliner, right?
So say once you, on one
of these charter flights,
you got into a Global
Express, let's just say.
Okay.
Granted, that would probably
be a pretty high-end airplane.
Yeah, so now Global Express, it's a
Bombardier aircraft,
it's very large, goes very far.
It does.
Yeah.
So if your expectation coming in
is to buy one of these airplanes,
and it could very well be you can,
but going back to what you asked,
first is how big is your company?
What can you afford?
When you say how big, you mean,
what's your revenue
profit, all that stuff?
Revenue, yeah.
Okay.
What of your budget are
you willing to give up
for an airplane?
Now, you might not know
what you wanna give up.
Right.
We'll go take a look at these trips,
so Chicago, Dallas,
Florida, back, you know.
So a pretty decent airplane.
Yeah.
And so we'll grab numbers,
and we'll grab some airplanes,
we think are gonna be
great for this mission.
Yeah.
Come to you and say,
here's what this looks like.
So here would be the high,
whether that's a Challenger 300 would
probably be the high,
or a Gulfstream 280, you
know, super mid-size airplane.
Okay.
To maybe the next level
down's gonna be, you know,
Hawker style airplane.
Yeah.
And then down to a citation type.
So, and put this--
So there's a whole range
of aircraft depending on--
Sure.
Where I need to go,
and how far I need to go.
Because we wanna
understand what your bandwidth is.
So here's three options.
Here's what they're gonna cost initially.
Here's potentially what
you can see on tax savings.
Here's what it's gonna cost
you per hour to operate it.
Here's what it's gonna cost
you annually to operate it.
By giving me these options,
are you vetting what my
appetite for spending is?
That's exactly what we're doing.
Okay.
Yes, because you came
to me with a blank slate,
not knowing where to start, right?
Yeah, yeah.
So we're gonna start with
a couple different things.
Here's a panel, take a look.
Where do you fit into this?
Not only did we bring up, you know,
the size of the airplane,
but also how many people
are you gonna take with you?
How big are these people?
What does this look like?
Because, you know, in an airplane,
we can say, hey, we sit up to six people,
but in reality, these are
people that are 170 pounds.
So if one of them's 280,
then we need to start
thinking about some other things.
Okay.
So there's that, there's, you know,
just the typical physical
structure of the airplane
and what it's gonna take.
And then with that type of routing,
we're gonna be able to
get in from, you know,
a lower cost airplane right
up to sky's the limit, right?
Well, what about me and my
financial situation, right?
So let's say I'm flying, you
know, I'm chartering flights,
you know, maybe once a week,
maybe once every two weeks,
I'm being honest about it.
Maybe I'm not that important, right?
But, you know, I'm going
as far as from, you know,
Chicago to New York or Chicago to Dallas.
Yeah.
You know, I'm not going
all the way down to like,
you know, Costa Rica.
I'm not going all the way, you know,
I'm not going across the pond.
Yep.
So it's all within the United States.
First airplane.
First airplane, right?
So I've not experienced,
there might be some
stuff that I don't know
in terms of cost.
Yep.
Now I'm looking at, you know,
let's say I've got a
business that's, you know,
let's just say to keep it simple,
$10 million in revenue
and let's say I'm clearing,
I don't know, a million five, you know,
at the end of the year.
And is that a situation,
I don't know if you
need to know about like,
my personal finances
versus the business finances
or what do I need to be
looking at in regards to that?
Does that qualify me for
being, you know, air worthy?
Oh sure.
I mean, at that level,
you're, we're probably going to come back
with an option of a, you know,
a net jet or a flex jet
or a quarter share type.
Okay.
Or maybe even a jet card, depending.
And so, so what, that
means don't buy a jet outright.
That's right.
That means I have,
what fractional ownership?
Fractional ownership.
Like a timeshare.
Just all it means is yes,
you have access to the jet.
You're setting things up in advance.
So you know what you're doing
and you're making these
trips happen, you know, that way.
It's a good
introduction into jet ownership
and seeing what it's all
about and how it works.
There are some limitations
to it that you wouldn't have
if you're a wholly owned jet owner,
just as far as scheduling.
So, you know, last
minute it's going to cost
you to change.
So I need to know in
advance, well in advance,
I can't just, you
know, be on a sales call
with a potential client
and I'll be in Dallas by five
and we'll go have dinner.
Right.
And I'm in Chicago,
that's not gonna work.
Yeah, and you can do that, you can do it.
There's gonna be an impact there.
Okay, gotcha.
You talk about things like quarter share.
Does that mean I'm paying like literally
a quarter of the price too?
That's right. Or is it more than that?
Yeah, a little more than that.
You're actually deeded at a
quarter share of an asset.
So you do have
something that is, you know,
depreciatable, tax deductible.
Okay.
On top of that, you're
gonna be paying into fees
with the airplane and get a little taste
of what that looks like.
As your business grows
and as your needs grow,
then you're working your
way into whole ownership.
The next step out of
that is whole ownership.
Obviously in the quarter share world,
you can go into half
ownership and, you know,
kind of move up, but logically--
The fraction gets bigger?
The fraction gets bigger.
And at that point, it's probably best
to start talking to whole ownership.
So let's say, yeah, let's say
my business does well, right?
Let's say having fractional
ownership does well for me.
I'm able to get to Dallas,
I'm able to get to New York
and get some deals closed.
And let's say the next year, my business
is up to 20 million.
Let's say we're bringing in, you know,
two, three million at that point, profit
at the end of the year.
Maybe my options open up
a little bit more, right?
Absolutely.
So what is the next
step there from fractional?
So working into whole
ownership, you know,
we're working towards that, right?
And again, looking at the customer,
the demographic of what
their travel looks like,
as far as the people
going back again to that,
and what size airplane fits best.
Again, just like
buying a car, we can go out
and buy a great big van
for 30 grand, whatever it is.
Well, that's a great question.
Do I get to test drive it?
Yeah.
Do I get to, so it's like if I'm looking
at all these planes, right?
Am I like, do I show up to like,
let's say you give me a
bunch of options, right?
And I want to do this too.
Yeah.
Do we get to say like, okay,
I'm in the market for a plane.
Take it for a spin.
Take it for a spin,
because I want to know,
I mean, this is the
expensive thing, right?
I want to know, am I going
to get to go fly in a plane?
And see like, I want to
know where the cup holder's on,
or I want to know if the bathroom's nice,
you know, all that stuff.
Not in the terms of you buying a car.
It's not quite that accessible.
If, of course, totally good question,
and what does it look like inside?
How do I fit in it?
Sure.
You know, definitely need to do that.
Definitely need to see that and feel it.
Flying it, yeah, also possible.
The way it's done is
usually with some money.
Okay.
It's just a charge for
how much it's going to cost
to run that airplane.
Okay, so I got to pay for gas,
I got to pay for the pilot.
Depending on the seller and
what they're willing to do.
Gotcha.
How far they're willing to go.
If they're really
trying to get rid of it,
they might be a little
bit more open with you.
Right, and if not, then
we'll look for another option,
whether we charter an
airplane of similar attributes
and get you on that.
We're talking about
moving into whole ownership.
Why would I want to?
I guess what are the downsides of
fractional ownership?
And you said you were
talking about having a card?
What was it?
Yeah, a jet card.
A jet card.
Yeah, so you're buying time.
So a jet card is just like a credit card
and there's 50 hours on
it and you cash them in.
Okay.
And the dynamics of it work different
with different companies
that hold these jet cards,
but it's something to talk about.
A jet card would be
pre-buying into a quarter share.
Okay.
So that would probably be something.
So that's your taste of the world.
The quarter share is
actually like committing.
Yep, yep.
Okay.
And once you experience
it, you're gonna love it.
You only wanna move up.
Yeah.
Okay.
Well, what are some of the
things I'm gonna run into
as a fractional owner or
somebody with a jet card
that may be like, oh, I
gotta get a wholly owned jet
at this point.
So availability, scheduling,
getting a hold of that
airplane when you need it.
Gotcha.
There's a huge spectrum there, right,
of companies that do this
and their accessibility.
And that's a whole other show
and a whole other conversation.
Sure.
And maybe we can get net
jets or somebody to come on
and explain that.
But a big gamut there.
Okay.
Of what people are willing to promise you
for owning their jet card.
But again, just a taste, get
you into quarter ownership,
or you just go right to whole ownership.
If that presents itself
and you're traveling enough
to justify that and make it work,
then you have an airplane
that is 100% available to you.
Nice.
So I don't have to, so no matter how,
and I'm sure these companies
that do the charter services,
like the ownership, or
fractional ownership,
and or the cards, I'm
sure they do a great job
of making the process easy
and smooth and et cetera.
And I'm not trying to downplay them.
But I can't, I mean,
literally, if there is a jet,
only so many people can fly,
or can take that jet
out at a time, right?
It's like there, it's
just a matter of scarcity
and resources there, right?
Right.
So owning it wholly,
it's whatever I want.
That's right.
At that point, right?
Yep, 100% access.
Obviously, it is a machine,
so there's some breakdowns,
there's some maintenance.
But for all practical purposes,
you have access to it 100% of the time.
So let's say there's a good use case then
to get out of fractional ownership
and into wholly owned, or
having a wholly owned jet.
Sure.
Let's say it's like, I
just need to have it available
for me, I just need to travel more.
Your next question to me is going to be,
what, about my ability
to pay for something,
or are we talking mission?
Yeah, both, right?
So, I mean, we know
the mission, basically.
I gotta go to Dallas.
I gotta go to New
York, sometimes Florida.
So then the paramount
thing is, yeah, it's cost.
And here's what that looks like.
Here's just a granular look at that.
This is what it's
gonna cost you per year.
This is what it's gonna
cost you for five years.
Now, buying an airplane, of course,
we have regulatory
requirements, which we've talked about,
and people have heard about
it on our show quite a bit.
So, looking at that airplane,
we wanna take a
really deep dive into that.
So, once we identify an
airplane that we like,
and this is the plane,
this is what we like,
we're gonna take a good
look at what that plane's
gonna cost us for five years,
and we're gonna show you that.
Because what could
happen is you buy an airplane
that has a major inspection due,
in year three of your ownership.
So, we wanna make sure and due diligence
that we say to you, Derek, in 20 blah,
this airplane's gonna need
a $1.2 million inspection.
And you need to know that.
Not that much for an inspection?
That's insane. It can be, yeah.
And I picked a big one, that's a big one.
But if I'm going for an
older plane, because I wanna--
You're gonna be there.
You're probably gonna be in that world.
That's something like
15 year old BMW, right?
(laughing)
Like, whatever, right?
So, we're gonna wanna make sure that
in our due diligence as a broker,
that we're finding all this
stuff out, and we know this.
And that goes back to
that affordability question.
Again, don't wanna set
you up for a situation
where, oh my God, in year three,
I've gotta shell out an extra million
dollars or whatever.
Yeah.
Yeah, again, that's a high number,
but it can be easily,
depending on the airplane.
So, am I just looking at cost,
or what other considerations am I, am I,
I mean, is it, how
much personal preference
comes into it as far as, I just,
I play golf with a guy
that owns a Gulfstream,
and I wanna own a Gulfstream too.
Yeah.
How much is that?
Yeah, there's quite a bit of that, right?
Yeah.
I mean, there's definitely airplane envy.
Sure.
You know, so, the guys that--
I like those little Honda
jets, have you seen those?
They are, they're nice.
I've seen those.
(laughing)
They're nice.
They have a function too.
I mean, everything has a function.
But, is it the function you want?
Is it what you need, or what you want?
How do we have these discussions?
So, in a brokerage firm, the
brokerage firm that you want,
is the one that's gonna
sit down with you and say,
here's kind of the
world of where you are.
Yeah.
Here's the BMW of the world.
Okay.
And this is what it looks like.
Okay.
You know, here's the
middle, here's the low.
Coming in with what you
and I would know as a you go.
Yeah.
Or whatever, a Chevette.
Sure, sure.
And then, we're gonna show you this.
Yeah.
And what's gonna fit in
your puzzle right now.
Because we need to know,
what's it gonna look like
next year for you?
Yeah.
And maybe the year after.
Because at that point,
two, three years into it,
and your company's growing,
and your wealth is growing.
Yeah.
I'm gonna flip this thing in two years.
I'm gonna flip it in four years.
Of course, those variables, we really,
just like the stock market or any
financial conversation,
we don't know the answer to that.
We don't know what's
gonna happen next year.
Things could totally change.
Right.
So, what--
You have a different tax situation.
We can have a tax, yeah,
we can have a tax change.
But now we have bonus
depreciation out there.
Sure.
So, we wanna be able to make sure
we're taking full advantage
of taxes and depreciation.
But again, we wanna
set you up for success.
And put a plan together
that, what does this look like?
What does this look
like five years from now?
Can I run this jet seven years?
Can I run it 10 years?
What are some things that would
immediately disqualify me?
From jet ownership?
What are some things
like if I came to you
and I'm like, you know what?
I mean, is it just the money?
Or are there other things?
I mean, because I could
come to you and say like,
hey man, I'm running a
construction business.
We made five million last year.
I was able to bring
home just under a million.
I really wanna get a jet,
because I know some people with jets.
Is this right for me?
Yeah, no, it's not.
I mean, it's just right off the bat, no.
Yeah, most, yes, most of the time.
Unless there's another funnel of money.
But based on what you said, no.
But what we can do,
outside of a jet airplane
would be a turboprop airplane.
Something a little smaller.
Something goes a little slower.
But still gives you that ability
to create time for yourself.
Gotcha.
And when you say create time,
that's something I've heard
from people in the aviation industry
about treating a jet
like it's a time machine.
It gets you time back,
because you don't have
to spend an entire day
going through TSA and
airports and all this stuff.
You just go out and get on your jet.
Or you're turboprop.
Yeah, exactly.
So airplanes, we know for a fact
that as far as growth of a business
can be related back
to aircraft ownership.
We'll just call it aircraft ownership.
So whatever can move
your sales, your CEO,
whoever happens to be the person
that's making that company grow.
If you can get that person moving,
your business is gonna grow.
And I don't wanna quote
the rate it's gonna grow,
but it's gonna grow.
I mean, anytime you can get
more FaceTime with customers
and get your people out is good.
Which is why in the
United States we have what?
16,000 corporate private
airplanes flying around.
So do you find that a lot of people
when they start to
talk about jet ownership,
it's not their first rodeo with aircraft?
That's right.
Okay, so they've
already been on that path
for a little while.
They've already figured out,
okay, maybe I've got a
time machine that can save me,
I don't know, 10 hours
here, 12 hours there,
but I need something that can get me
where I need to go like now.
Right, exactly.
Growth of business,
directly proportional.
Yeah, what are some other things
that might disqualify me outside of cost?
Cost?
Yeah, outside of my financial situation.
Disqualifiers, cost is
gonna be the biggest.
Money makes things move, right?
Right.
So if you got the
money, we can make it real.
You can get it, you get into it.
And you don't
necessarily have to have a lot.
Other things that people are sensitive to
and more so companies are optics.
I've heard a little bit of this
as we've spoken with people in aviation.
It's I don't want to be flashy about
flying my jet around.
Right, because again,
worried about investors in your company.
Sure.
What's their thought if I
go out and buy this jet?
The response to that is
what we just talked about.
Sure.
I wanna grow this company,
I wanna make it profitable.
I wanna make us king of the world,
which would be every CEO's response.
So to do that, I need time.
I need to make my time worth every penny.
I've gotta be here, here and here.
And they're very important.
Are commercial airlines gonna do that?
No.
More and more people are traveling,
airlines are saturated.
Planes are breaking
down, you're getting delays.
ATC system is getting bogged down.
We see this in the news, nonstop.
What's the alternative?
Having your own source
of air transportation.
So get a plane.
And that's what we're seeing, right?
We're seeing that kind of scaling in.
But yeah, optics do play a part in it.
So to roll back some of those comments,
you have to kind of
thread the needle with a board
or whoever you're dealing with, a CFO.
Sure.
Well, because you
gotta justify it, right?
What's the justification of that?
And that's where we can help as well.
Because with my background, of course,
being in corporate
aviation, working for companies,
was annually selling that
airplane to the company.
Here's the value that you're
getting out of this machine.
Because the bean chowder's
got it on the shopping pool.
That's right.
Every year.
That's right.
This is an expense that we don't need.
Well, actually, that
expense made X amount of dollars
because this person was at this meeting
and made that deal happen.
Right, right.
A lot of times those
dots don't get connected
in the accounting room or the finances.
Sure.
People don't see that.
But that's kind of our job
and what's your aviation director's job.
And if you don't have one,
we'll gladly step in
and kind of fill that role
and say, look, looking at your company,
looking at what you're
doing, what you're making,
can you justify an airplane?
We'll give you a thumbs up or a thumbs,
no, it's not gonna help you right now.
Right, right.
Looking at other brokerage firms,
I'm not sure how far other
brokerage firms go into that.
Our brokerage firm is the
only one that has a person
that's ever done that.
(laughing) So when it comes to CEOX
coming to me and saying,
Jason, I really wanna get
a jet, I think we need one.
I'm getting a lot of
pushback in the company.
But I think we're there.
Yeah.
How can you help us with this?
Help us present our case.
Absolutely.
Yeah.
So we'll come in, have the conversations,
make the presentation,
here's what we think
you can get out of this.
We're willing to do that for anybody.
If we can help you build your business,
we're gonna do it.
It's not so much, and
we obviously sell jets,
but it's not so much selling the jet
as it is helping people grow, right?
Yeah, well, it's the
opportunity it creates, right?
Yeah, absolutely.
It's the upside.
I feel like so many
people, they look at finances
and they look at like,
oh, well, this is a cost,
is a downside, et cetera.
But what are you
gaining by having the ability
to be across the
country within a few hours?
Right.
You know?
Right.
That's a lot.
Yep, exactly.
And it can move things.
Yep, yep.
I mean, it's where it's at, right?
We're in a high speed
world with the technologies
that we have and the
abilities we have to communicate
and et cetera, et cetera.
But there's still that
personable shaking somebody's hand
and pressing flesh
that makes things move.
Outside of a business use case,
I know it's like justifying
business-wise, right?
A, having some money, right?
Having enough money to,
and it scales up as you go,
is what it sounds like, right?
Sure.
In order to even be
thinking about getting started,
I've gotta have a few
million in the bank, right?
And then I've gotta
potentially be on an upward trajectory
with my business and have
a good business use case
in order to justify it,
either to the bean counter
to myself or my wife or whoever, right?
Because it's expensive.
But if the upside outweighs that expense,
well then maybe it
becomes a good decision.
And so are there any other
things that I need to think about
in terms of qualifying
myself to have a conversation
about jet ownership other than that--
Outside of a company use.
Maybe I don't have a good
business use case for it, right?
Maybe I don't travel as
much as somebody that does.
Well, again, strictly tied to finances.
But if you have the
ability to fly privately,
I think it was one of our previous guests
that brought this up.
I mean, once you taste that life
and once you know what that feels like,
you're never gonna roll
back to parking your car,
going to the counter, going through TSA,
et cetera, et cetera.
Sure.
Now it's just a luxury
I can't live without.
Now it's a luxury, yes.
And if you're traveling a fair amount,
say we're talking about people with homes
in different places,
et cetera, et cetera,
well now you have a tool
to get you from A to B,
very comfortably, very
leisurely, not so stressful.
Yeah.
So even if I'm somebody who will say,
let's say I got lucky in crypto, right?
Let's say I invested a lot
and made a bunch of money
on Bitcoin. Sure.
And here I am with a bunch of cash,
but no real good business use case
for like why I've gotta
travel, it's just I want to.
Sometimes for somebody like that,
it might make sense too, just from the
lifestyle perspective?
Yeah, for sure.
And then you don't have
to justify to investors.
Well right, you don't have
to adjust even better, right?
But if you have disposable income
and you just want that lifestyle
and have that flexibility and you travel
and you want to see
places, you want to go places,
you want to do things,
it's the way to do it, right?
Nice.
So it's, do I take
the bus to the ballpark
or do I take the
Rolls-Royce to the ballpark?
Nice, nothing in between.
Nothing in between.
It's a bus or
Rolls-Royce, that's why you get it.
Well we have in between too, but sure.
It's a lifestyle
decision, right, at that point.
Yeah, and sometimes there's
some gray area too, right?
Where people that are like CEOs or
executives and companies
that have access to these
jets through the company,
they can take their family
on a nice vacation somewhere,
they can use it in
those ways as well, right?
So it's not strictly one or the other.
Yeah, so when we, you know, granted we
have the opportunity
to talk to a company
that's looking at this
and they don't have an
airplane in use currently,
you know, we talk about that too.
So it's another tool for a company to
attract talent, right?
So here's another usage.
Okay.
We wanna hire so and so
to be the head of finance,
to be our CFO.
Well so and so lives in New York.
Our company is in
Vermont, but we have this jet.
Yeah.
Guess what?
Now you have more
access to hire that guy.
We'll pick you up on Monday,
we'll take you back on Thursday.
You know, so you see some of that.
Yeah.
So jets aren't just for
building financial pieces
of a company, but also personnel pieces
of a company as well.
And you also see
companies that will run shuttles.
So they'll run, you know,
high density type airplanes
and they'll run people from
state to state to do audits,
to do whatever they're needing to do.
Yeah.
And we saw that a lot and a company IBM,
I'll talk about them.
They move people from New York city
and upper state New York,
wherever they had to move them.
So I mean, there's a
lot of different tools
that the airplane can do.
Right.
Or function as.
But if I'm just getting started,
it's getting, trying to
vent myself as far as like,
I've got to, I probably
want to have a couple million.
I probably want to
have a business use case.
I probably want to
have some kind of upside.
Not just the luxury thing.
Maybe I'm working towards it, right?
I'm over here hustling.
And in order to get these deals closed,
in order to meet with
prospects and clients,
I need to be where they are.
And I need to have, you know,
air transportation to do that.
Maybe start off small, work
my way through fractional,
and then get into, you know,
maybe a smaller jet to start with,
and work my way into a bigger one,
or an older jet to start with,
and work my way into a newer one.
Those are a couple of paths.
Those are paths.
Yeah.
And again, we're going to explore
every scenario we can think of,
and whatever tools we need to use
to get to those scenarios
and build it out for you.
You know, you brought
up, you know, finance.
The other side of what we'll do is,
as Aspen Aero Group.
Is once we start this
conversation with you,
we also have friends
in the finance world.
We have friends in the tax world.
So we're going to start
talking to these people right away.
And hey, what can company X
do as far as depreciation?
What can they do as far as financing?
You know, you might have $5 million
sitting in the bank,
and you say, "I'm going
to use that $5 million
to buy an airplane."
Well, that might not
be the best decision.
So we're going to bring
in experts in that field
to say, "Hey, look, it's
best you take, you know,
$4 million of that, put it
into some other investment,
and put a million into financing
because it's going to
be cheaper for you."
Right.
You're going to make more money.
Use somebody else's money to buy the jet,
and just add that as collateral.
And that's not my world.
Sure.
But we know people that do that.
Yeah.
And so they're part of our team.
Okay.
That we use to make
these conversations happen.
So having some assets, having a use case,
being on that path, those
are all good starting points.
Let's say I'm qualified,
and let's end it right
there for this episode.
Because the next episode,
what I want to do is talk about,
okay, now let's talk
about the kinds of jets
that I might be qualified for.
Perfect.
And what I might want to
bring to the table to you
as far as like, "Hey, this
is what I'm thinking about.
What do you think about this?"
I'll throw some stuff at you.
Oh no.
See, we'll see you
swat down all my ideas.
Yeah, awesome.
All right, anyway, so
that was a good exploration
of kind of what we
would do to qualify somebody
for jet ownership or
aircraft ownership in general.
And I think this is a
fun kind of little series,
kind of little exercise.
And see if we can get all the way to
purchasing something
and actually owning a jet
and seeing where it goes.
So yeah, let's keep this going.
Make sure you're
subscribed to the channel
and you'll get the next one as well.
But yeah, it's been a good time,
and join us next time
where we will learn more
about what it takes to own the jet.
Thank you for watching Own the Jet.
If you wanna see more Own the Jet,
make sure to subscribe
to our channel on YouTube
and leave a comment telling us what
aspect of jet ownership
you'd like to know more about.
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