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Chris,

I think you are a really lucky guy to be in a position to afford an airplane
at the age of 23 and I want to encourage you to go for it. I wish I had been
able to do that. Your e-mail seems to indicate that you have given this a
lot of thought, and your thoughts and concerns all seem to be right on
target. So here's my two-cents-worth:

Your instructor is correct. It will take you longer to complete your flight
training in the Lancair-235, and you will be developing a different set of
skills in becoming proficient in this plane vs doing so in a C-150. It will
also be a lot more fun if and when you become comfortable in the plane.

You may want to run the numbers again to understand the true cost of owning
and operating this aircraft. Measuring the costs of ownership against the
costs of renting to obtain your license is a good start to see if it all
makes sense financially. You must take into consideration the number of
hours you anticipate flying this plane annually, the cost of hangaring or
for a shelter, the fuel and oil consumption, an allowance for other
consumables such as tires, light bulbs and oil filters (for example) the
cost for an annual condition inspection and the inevitable repairs that
accompany it, an hourly allowance to give you money for overhauling your
engine at TBO, and perhaps the biggest bugaboo -- insurance.

Depending upon your personal preference for coverage and on the whims and
vagaries of the insurance actuarials, you may have to shop long and hard to
find affordable liability and/or hull insurance. Higher deductibles will
help reduce premiums, if you can get anyone to quote coverage for you. As a
low-time student pilot, any insurance company willing to cover you will
probably stipulate a large number of hours flying in a supervised mode (with
an instructor who has in turn been checked out in the Lancair) -- which is
probably OK since you are learning how to fly anyway. They may want you to
build up a seemingly exhorbitant number of hours with an instructor before
they will cover you in this aircraft solo.

It isn't just you as a student pilot -- it's an industry-wide issue right
now particularly within the experimental community. I know of lots of
experienced commercial, multi-engine rated pilots with 1500 hours or more
who are being quoted $5000 per year and up for premiums to cover them in
Lancair-360s, and have heard of $12,000 per year premium quotes for coverage
in a Lancair-IVP. Hopefully the situation will simmer down within a year or
so. A Vice-President at AVEMCO told me recently that the insurance
underwriters' losses on experimental aircraft had exceeded the premiums
collected in each of the past couple of years now -- an unheard of and
intolerable situation within the industry.

A couple of things to look for in your new Lancair. You mentioned that the
plane is set up with dual rudder controls. That's good, but are there dual
brakes as well? Dual brakes usually means slave cylinders and a remote brake
fluid reservoir; this is a more desirable setup than a single set of master
cylinders each with its own fluid reservoir, on the pilot side only. In my
experience, these are prone to leaking and failure without a lot of TLC, and
in any aircraft that depends on differential braking for directional control
on the ground, you do not want to have a brake failure, ever. Check to see
if the brake system uses nylaflow lines -- it is likely to. These are OK
unless the Nylaflow goes right into the brake caliper on each wheel.
Nylaflow lines don't do well when heated up, and they get too hot if they
are connected directly to the brake calipers. I always recommend running at
least a 6-inch steel-braided Teflon-lined hose assembly (Aeroquip 666 for
example) up from each caliper before joining the nylaflow in a union.

Anyway, I hope this has given you more to think about and hasn't been too
negative. I wish you the best of luck with your opportunity!

Larry Graves
AirCrafters Builder Assistance Center
140 Aviation Way, Watsonville, CA 95076
Tel: 831-722-9141 Fax: 831-722-9142
www.AirCraftersLLC.com





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