What Iman Gadzhi ISN'T telling you | TheJetBusiness | The Phenom 300E Costs

Kevin why don't you use flexjet or Net

Jets oh my god dude you want to see me

get absolutely reamed and ripped off and

we're talking

$250,000 for every thing you want to do

on these Stan things it's a ripoff you

want to put on starlink that'll be 250

you want to put in a coffee maker

that'll be 250 you want to reskin the

wood on the inside that'll be 250 you

want to redo the upholstery in the

carpet that'll be 250 so this video that

you're about to watch right here is

depicting what it's really like to own a

private jet you see some the the good uh

no you don't see a lot of the full

picture but with us here we have Mr

Kevin paffrath Mr meet Kevin who

actually owns a private jet and is here

to tell us the full story ose it all

expose what is he getting right what is

he getting wrong in the full picture of

what it's actually like to own a private

jet interesting okay well let's play it

and we'll sort of just pause it as as we

go through it now uh keep in mind uh did

did they actually end up buying the jet

no they went to a a jet store oh okay

okay okay so there's this guy that's

been going viral on on um uh Tik Tok uh

who sells Jets I think he's like in

London or the United Kingdom or

something like that and he's actually

brilliant in that he he has this like

massive like electronic display and uh

and he can just put stuff on this

display to show them oh the distance of

how far your plane could go and it's

it's fantastic I wish I had that

experience when I was buying a plane

because I was literally flying around

the country to go visit different planes

to see what the different planes were

like yeah it's in this video too you'll

see this in this video let's let's

listen in so here we go upon entering my

my favorite phrase is time is money buy

a jet so I mean it really is the whole

bases own an airplane I'm always saying

you know it's not about luxury it's

really about it it

like for again for 99% of people it's

all about luxury they're they're walking

in there trying to justify their plane

that's what they're doing time machine

and being a capital asset to accompany

to accompany this true Club room where

sometimes like right now you know we

have a a in in the main Studio there and

so if we really want to I have another

video W here that I can do another

presentation on however this one I can't

do the full FL plan of all the airplanes

and I'll show you I'll take you through

the app on that wall cuz it's just much

more effective it's one of these

experiential Journeys if you want to

call it that if you're really interested

in trying to buy an airplane this it's

an unbelievable tool so this is a little

bit more of a private um kind of

atmosphere I know it's an ashtray there

do you guys smok in here you can do

whatever you want in here

classic sales guy by the way classic

sales I mean I love it and you can see I

own one of these little uh uh a little

displays after you buy a plane in the

industry uh it's very common that the

salesperson will get your exact paint

job uh for your plane with your tail

number paint and they give it to you as

a closing gift it takes like three to

six months to actually get it but uh

it's it's pretty cool and I have one for

mine and it is it's a fantastic closing

gift it's a very very good closing gift

cross-section of of the aircraft I

didn't really buy build this thing in

here put it in the front window really

to sell air buses or blowings the real

reason was obviously it's a a marketing

gimmick to catch the people's eyes and

window here on Park Lane here at night

how you

seeet a good marketing little playy is

this is really the money shot people

come driving down this road and there's

about well pre-o there was about 990,000

Vehicles every day going up and down

here about um 40 people who own a jet

every day pay passing through this

window talk about preo numbers so what

we do is at night time we take this

little advertisement or video and we put

it over here so at night everything is

black around here and then so when they

drive down they see this little video in

the window and then they see the

airplane then they see inside the window

and if they have anything to do with

corporate aircraft normally they will

find the time to come back here and and

come inside this guy's brilliant

absolutely brilliant I love this like

these are just like the little

efficiencies I I try my best to apply to

everything I'm doing as well well can I

do to make something just slightly more

efficient the fact that it just a click

over that brilliant and you're already

paying for like a great location might

as well fully utilize that to like

Market brilant yeah I mean 990,000

people passing a day that's like that's

like owning a YouTube channel almost

like you have 90,000 people watching

[Music]

yeah that's his office right so this is

basically just a little Studio okay

models what we do now is we have to

figure out a a sensible way to filter

the airplanes out that don't meet your

parameters honestly what would be the

maximum maximum budget that you would

want to spend 30 mil okay do you want to

have can we pause for a second I this

may be a Miss like I feel like most

people that want to buy a jet have done

their own research and say like I want

this one they're not going to a broker

to be sold on like a wide selection that

people spending that amount of money on

jet usually have done their own research

like I want this one help me get it I

guess it depends who it is you know I I

mean I did but there are definitely also

people like I I wonder how much time

tlor someone like Taylor Swift would

spend you know or like somebody who's

got like billions of dollars it's just

like you know okay somebody else go

figure it out for me you know they don't

even have time to make that decision so

you probably have a duality there uh but

uh yeah I mean somebody also by the way

going in saying oh yeah I'm going to

spend $30 million this is like such

perfect like delicious juice for YouTube

because like you could just say oh yeah

I'm going to spend $100 million on a jet

and you make your video and you just

like never actually buy a plane it's

it's perfect it's totally makes the

census tingle for YouTube let's keep

going section two sections or three

sections there's four or five or six

people in a section what do you think is

be eight minimum eight minimum so now

we're down to 58 the next one is the

maximum range so the longest trip from A

to B where do you think that would be

five or six times a year I'd say farest

realis maybe Dubai to London this is the

range that you can go non-stop okay so

anywhere in Europe this would have been

very south AFA well I I mean we we they

give you this in brochures and stuff

it's just a different presentation like

we we we for our mission profile for the

plane that we have we we knew exactly

what we wanted which was West Coast

America and he kind of sells it as like

you know if you want to be able to get

from London to Dubai you need at Le at

least this plane but he doesn't mention

like you could also just stop for gas

anywhere correct and and so that is that

is such a great Point Mikey because H

here's the thing his question was where

do you what is the longest distance you

want to go maybe four to six times a

year okay that's insane let me give you

some real math here because we've done

this math we might go from California to

Florida say extreme 50 times a year if I

wanted to buy a plane for that mission

profile of doing 50 trips to Florida

nonstop as opposed to stopping for gas

once and then continuing going it would

cost me

$20,000 per stop per year so every time

you stop for 30 minutes to get gas

imagine writing a check for 20 grand and

lighting it on fire so the fact that

he's trying to sell the plane on what

are you going to rarely use keep in mind

we're in like the we just passed the end

of September we're in early October here

so 10 months we've done somewhere around

what probably 250 flights on on the

plane 250 legs and we've stopped for gas

maybe 10 times if that I don't even know

that we stopped 10 times probably around

10 maybe okay yeah yeah but I mean

certainly not like I mean I mean what is

that that's 5% it's crazy like why why

are you going to buy a bigger plane for

5% of the use case that's insane because

you're going to pay two or three times

as much but we started figuring out

instead of making those fuel stops like

a fuel stop we started adding efficiency

like looking at real estate around the

fuel because it takes about 20 to 30

minutes and you can see one or two

properties in that time and come back so

we started adding little longer too we

add that efficiency into the fuel stop

exactly like for example we go to

Florida we'll stop in Austin oh which

happens to be a market we're looking at

for Real Estate anyway so it's perfect

so it's really planning you're right can

eliminate all of that anyway uh but

anyway okay let's uh let's keep going

here and you can make it to Singapore

however this is with no wind right so

now this was the winds last week at

35,000 ft so what this means is that

you're going to be able to fly faster

when you're going East and you're not

going to be able to go as far on Range

or it's going to take you longer when

you're go in West you can see that here

you can make Singapore with all these

airplanes but if you were to start now

in Singapore you watch this this is so

you can see if I go to

Singapore you are just barely matter of

fact if the winds get a little bit worse

and get to 75 knots average you're not

going to make it back in that g280 one

of the things people don't ever ask

which they absolutely should ask is how

much baggage can I put in my my airplane

you can see that this number is 6.4

cubic M of luggage and this is half and

I can tell you this is a nightmare

question every time somebody has an

airplane they never ask this question

and this is the most important thing of

every flight did you ask that question

uh I I actually did uh but I don't know

that it's the most important question I

like it when salespeople tell you this

is what other people don't ask in fact

when I sit sit down in a sales

presentation I usually ask what am I not

asking what am I missing right it's a

fair point to bring up but uh you know I

I think what's surprising to me is we

have a Phenom 300 plane and and we'll go

through some of the numbers uh a Phenom

300E it's like a 2021 model the thing

cost uh $12.9

million and uh I pay for it it's not my

it's not like house hack my real estate

startup it doesn't pay a dime towards

this but I actually just got my

statement uh which will show show you

how much uh this plane has cost uh all

year for the 10 months uh that we've had

it so far and for the flights that we've

done we could look at Fuel and all this

sort of stuff I'll tell you out of all

of this stuff uh the baggage has really

never been an issue like an unsolvable

issue and I've done trips with uh and

this is a smaller plane done trips with

a family ski trips we we have nine seats

on the plane plus two pilots whole

podcast setup goes in that spot

when we travel with the podcast setup

that's those are a lot of boxes like 18

Pelicans or something like that I don't

know it's something crazy uh but anyway

uh we have not had an issue would it be

nice to have even more room of course

but I mean like are are you trying to

plan for like this extreme or are you

trying to plan for your daily use but

remember that you pay that back in fuel

oh my go the more room you have the more

luggage you bring the more it costs to

get there well not only that the bigger

the plane the more fuel so like think

about like a g280 let's see what a g280

is fuel burn is so this this is what

what he's what they're pulling up here

fuel burn per hour everything in these

planes is per hour uh so uh you are

looking at uh let's see how many gallons

an hour does it use

237 so we're at about 165 so 237 divided

165 uh this Burns about 43% more fuel

than our plane does so let's now compare

this I'll pull this up uh in just a

second here Christian give me uh nothing

for a second here let's me find this

this and let's actually see how much uh

Fuel and what our expenses have been so

go ahead and pull this up here's a full

breakdown of all of the expenses uh for

our plane and you could see here are the

September uh expenses and here on the

right side are the uh annual so

year-to-date

expenses and so I looks like aircraft

maintenance we're at about 42 I'll just

focus on year on yearly figures right

now 10,000 well 10,000 for the month oh

I guess we just hit some more

maintenance anyway

$42,000 for the year jet management this

is like a manager to manage the pilots

and the service and and your rental cars

and all that kind of like all the

coordinating

$64,000 charges just to use the little

uh uh machine that actually turns your

engines on for the plane

$2,000 you need those in the summer cuz

it gets hot well that's to run your AC

but it's also to start your plane it's

bow

and some of them suck but uh these right

here are flight fees uh for contract

Pilots with

$168,000 worth of contract pilot fees

three grand of health insurance you've

got uh warranty fees here these are like

uh Embraer ECC fee these are this is

your your sort of a per hour you pay a

fee uh for warranty basically oh good we

only paid $30 for deicing we've never

deced so I want to know why we have a

$30 dicing charge here dicing is

probably about 1,500 bucks per time for

a Phenom and if they're low on the

product it could be as high as $8,000

just to di yeah so you got to get in the

hanger if you ever go in the snow uh

Embraer uh okay that's the the warranty

uh you've got uh engine warranty here so

I like the engine programs the

maintenance programs

$100,000 for 10 months of of engines

fuel

$282,000 burned in fuel that's like a

burned in gas and so now if I had a

bigger plane like that 280 for that rare

time you need to go a little further and

don't want to stop

$282,000 times uh 43% in uh uh in this

in this example here so

$282,000 time 43% would have cost me

another

$121,000 just to have a slightly larger

plane 280 has about the same number of

seats wow oh yeah it's still a small

plane yeah same number of seats and

you're paying uh $100,000 more just in

in gas why like you have to really

analyze your mission profile when you

look at these planes hanger rental

$34,000 good Lord Insurance $35,000

Landing fees that's actually

surprisingly low $1,100 for landing fees

that's because if you buy a minimum

number of fuel they don't actually um uh

charge you a landing fee I wonder if

those are the tips uh tips are paying

the guys luggages and stuff maybe it

could be that that's that could be under

total pilot reimbursements which are

$62,000 you forgot that line item you

have a smaller plane so you can land on

smaller runways and those airports

typically charge much Lower Landing fees

than if you had a big one had to land in

San Francisco LAX all these bigger

airports you want to get ripped off land

in San Francisco I mean like that's the

story of California though it's like San

Francisco total ripoff it's like $99.50

for a gallon of gas the service is bad

they don't care about you you got to

walk in which sounds first worldish but

when you're carrying 20 bags that's a

pain in the ass uh you know as opposed

to you go to the smaller airports I went

to

Canada the cars right there they load up

your luggage uh they'll the the the

manager of the uh airport where we

landed is like oh you can't fit all your

luggage and your rental cars my

apologies we'll take my pickup truck and

I'll follow you for the 45 minutes to

get to your Airbnb and make sure you get

all your luggage home safe a it was

great they were so nice they're so accom

I was I was cuz there was one rental car

short I'm like freaking out trying to

get you those rental car texting right

and then the our the manage the our

Airplane Manager is like hey they got it

all taken care of and then I heard that

story like wow like that's they're so

good yeah and that wasn't their fault

that was the rental car companies but

anyway so uh you could see some other

things pilot training $117,000 pilot

salary that's I mean you add it all

together these pilot salaries for a year

or way way higher than this but that's

because we had contract for a while and

stuff uh you've got uh and this is what

nine months here ramp parking fees

$4,400 just to park outside you don't

even get a hanger you don't get coverage

just for parking overnight you're paying

four grand uh rent expense uh I got to

ask them what what I'm renting here

because I don't know what oh maybe that

was the life raft it was the life raft

when we went to Puerto Rico to visit

Peter shift you need a raft how long

were you over the

water like an hour and a half uh oh yeah

look at this voice and data charges this

is your internet 69 ,000 for the

internet this is stupid airplanes are

like so expensive look at that this

sucker has cost me $1.3 million just to

operate for the year that doesn't even

include your mortgage on it when you

have a loan it's crazy anyway let's go

back to the video so let's Tab out of

there for a sec that's what's really

like owning a jet yeah that's when you

actually own a jet rather than going to

the sales office going yeah I want a $30

million plane oo okay let's keep playing

the video so this is 100% scale okay so

I'm 6t I'm I'm 180 this is the exact

size that's cool it's it's nice to be

able to see that a lot of people they

they really want to be able to stand all

the way but you're sitting most of the

time and that's the scam because in 2021

at the end of 2021 I was looking at the

Prader 600 which you could roughly stand

in beautiful plane gorgeous uh and the

Phenom 300E which I have you can't stand

in all you crouch to get through it but

you're sitting most of the time

difference in price mine 12.9 million

Prader 6002 $4 million is it worth

paying you know 50% more on fuel cost uh

you know twice the cost for the plane

basically probably not for those little

things that's when you get into like the

luxury like it's a ripoff you know hey

let's keep going and so if I wanted to

take let's say the seats on the Gulf

Stream and compare it to the Challenger

that's the difference in the aisle with

it doesn't look like too big of a deal

you getting a little bit more aisle

width but really where you see the

difference is when we look at the as a

floor plan so this this is 100% scale of

the Gul stream 550 you got the kitchen

door here the galley door and most

airplanes the front section has these

four single seats this is the really the

normal setup so the the G550 this is the

what it looks like outside and this is

what it looks like inside you can see

it's got those three sections this is

the door that closes off and you got

that bedroom back there and the bathroom

behind it this airplane's got for the

class it's got the biggest window see

how big that window is yeah it's huge

window this is twice the size of let's

say the windows on the airlines up front

you have ah the sales guy you know what

he just said these windows are twice the

size of commercial oh the comparison if

you get a window seat on

commercial but it's funny it's it's

these sales presentations are designed

to hit on pain points oh you want to be

able to stand right you don't want to

run out of baggage space do you I mean

come on it's they're they're all the

like it's not it's not commercial you

know it's all designed Singapore you got

to get there in one stop man you can't

you can't make a fuel stop you what's we

didn't hear it I mean maybe he said it

but we didn't hear it in the video edit

there was no talk about fuel Stomp Like

you said Mike keep a really big kitchen

flight attendant can prepare anything

you don't need a flight attendant you

don't need a flight attendant this is

ridiculous this is absolutely ridiculous

just make one of your employees your

flight attendant yeah Senor

McKay um they can bring your food from

Whole Foods or you can get it from

Harry's Bar or uh you know wherever you

want it and it's you can get it from

whatever your place you want but it's

nice when it's prepared fresh on the

airplane let's say this airplane you're

going to fly at 350 hours a year and

you're going to pay

$450 a gallon okay that airplane is

going to cost about $3.6 million a year

to run it yep okay which is about 10,000

an hour really the main thing there's

three things you could do to Interior

the soft goods which is um I wish I

could see all of it he goes in a little

more detail in just a minute does he he

breaks down all the fabric whether it's

the the side panels the ceiling the

seats the carpet that kind of stuff then

the other part is the color of the wood

and then the other one is moving

furniture around to move furniture

around expensive very B expensive no no

no like and listen we have a joke on the

plane we have a joke anything you want

to do on the plane is $250,000

everything is $250 you want to put on

starlink that'll be$ 250 you want to put

in a coffee maker that'll be 250 you

want to reskin the wood on the inside

that'll be 250 you want to redo the

holer in the carpet that'll be $250 and

we're talking

$250,000 for every fracking thing you

want to do on these St things it's a

ripoff we don't even have a coffee maker

we have a coffee

pot it's a delicious coffee pot though

the coffee pot's $155,000 just the pot

it is the most expensive coffee pot that

exists it's an aviation coffee pot

$155,000 just for the canister and they

take it inside and they brew the coffee

inside and like the little wherever the

airport is that you're in uh and they

fill it up and then you have coffee for

your whole flight is coffeee is great it

stays warm it's nice 15K is crazy for a

pot that's just a pot wow that's not

even the whole unit that's not the

warming unit I'm literally talking about

the canister that holds the liquid when

you remove that to go fill it up or wash

it out in your kitchen sink 15 grand for

a little metal box jeez nope okay going

to redo engineering drawings I mean

literally on a G550 just to give you an

idea if you wanted to change this couch

to two chairs it would cost you about

$400,000 what percentage of jet owners

would you say just genuinely have it for

personal use or corporate use 2/3 it's

one one3 what did I say most people it's

just a luxury it's not no the the and

honestly I think it's even less than

that I think it like I said it's like

99% I I think that's way too high I

think very few people have it for

personal use wow you have the opposite

opinion said the other one/ third is uh

like Charter ples oh Charter she he

mentions Charter so somebody asks in the

comments Kevin why don't you use flexjet

or netjets oh my god dude you want to

see me get absolutely reamed and ripped

off it's a very good question because a

lot of people do ask me that I'll tell

you why uh and I'll make it quick so

basically I I I did the math on this uh

netrat is going to cost you about uh

$122,000 an hour for a fedom 300 but

they're going to charge you 12 minutes

on takeoff and land so 12 minutes on

takeoff and land is 24 minutes so 24

minutes if your average flight is 90

minutes 24 out of 90 is about

26% of the time they're billing you for

is take off and land okay so why does

that matter because that means if you

have a flight hour and you're trying to

compare flight hour it's not actually

$12,000 for a flight hour it's actually

26% more for a flight hour so now you

have to go $122,000 time 26% I've done

all this math so many times it's about

$155,000 per hour for netjets okay and I

love netjets they are a great company

they're great product if I was going to

like if I just wanted to be bougie uh

the way you would do this is you get uh

a 25-hour flight card with like Net Jets

you spend you know 300K or or whatever

it is uh it might be closer to like 350

now but whatever it is you you get these

Net Jets cards the 25 and remember the

number they're selling you doesn't yet

include the takeaway of those 12 minutes

on each end anyway so you get one of

those cards and then you can be like oh

yeah the occasional time I want to

Charter a plane I could do that and then

it's kind of like you just use the

points so it's like going to dve Busters

you spend $100 on the on the Reload card

and then it's just kind of like oh yeah

I want a flight and then you swipe it

okay that works for like the bougie you

know a few times a year you're going to

go fly right this does not work for us

because I expect our flight time this

year uh and next year will probably

average 4 to 500 hours uh which which is

quite a lot of flying isn't the average

like 250 uh the average flight time for

no I think that's like I think we were

calculating like the break evens or

whatever like 250 or something to

compare or whatever but if we're at

about 400 on average our flight hours

cost about

$6,000 so if you consider that our

flight hours cost about $6,000 that's

less than half of the Net Jets per hour

and these are like my real actual hours

not their rigged hours if I fly 500

hours a year which might is probably

going to be likely next year if I fly

sorry Pilots they're watching enjoy it

now enjoy enjoy your next two weeks boys

two weeks from now they' be like uh

we're giving two weeks notice we we have

a shared calendar with the pilots when

we update uh when we're flying when we

might be flying when we're definitely

flying and like might fly might not fly

and then possibly possibly flying and so

they see when Kevin changes it we have a

two week span and Kevin has some life

events going on that they're not going

to be flying for a couple weeks enjoy it

so uh but anyway if I fly most of the

cost in owning a plane and people forget

this is owning it it's not in flying it

most of the cost is I you you pay your

pilot salaries your insurances your

warranty programs your uh you know what

the maintenance The Hanger whatever

right all the fixed stuff all the fixed

costs so the fixed costs for mine are

around 1.9 if I fly at 400 hours I'm

about 2.3 to 2.4 in cost if I fly it 600

hours 50% more it only cost me 10% more

wow so it actually brings my cost if I

were to fly 600 hours my cost per hour

would go down to about 4,300 bucks Allin

so now when people like why don't you

use netjets I'm

like cuz I don't want to get ripped off

yeah it's simple it's simple math okay

let's go back to the video here and uh

let's wrap this up thir of all airplanes

are out on a charter for third party

Charter cuz I think that's probably one

of the things that most people don't

understand it's okay cool very nice you

bought your jet this that now you're

down $3 million a year just to maintain

it and upkeep it y are you seeing that

more and more jet owners are buying it

understanding that you know for example

my position I'm spending maybe $4

$500,000 a year on jet Charters you know

why don't I buy a jet myself okay what's

hilarious about that and most people are

not going to get this but when he's like

oh yeah I spent four or $500,000 on jet

Charters bro that's 30 hours unless you

got a bigger plane that might be like 15

hours okay that's not impressive we flew

over 250 hours just in the last 10

months I'm not trying to compare but I'm

just saying you do not belong in this

store in fact if I were the salesperson

and somebody walked in going well I just

spent 400 Grand on jet Charters you know

I want to buy a jet I'd be like you

shouldn't be in here you should never

buy your own plane unless you're flying

at least 200 hours and prove it try it

go get the jet card and prove that you

maxed it out anyway keep

going and then why don't I Charter it

out in the meantime well that is a great

question that's when you can't afford it

sorry when you have to Charter out your

plane and other people are up

your jet it's cuz you can't afford it

want to Airbnb my plane so I can make

the

payments question when you're operating

when you have an airplane the budget is

broken up in two things you got fixed

cost and you have variable cost fixed

cost is what you have to pay whether you

fly 1 hour or 400 hours okay it's the

pilot salaries it's insurance it's the

hanger all those things whether you move

the airplane not you pay and then every

hour you fly it you have fuel Landing

fees catering Pilots hotels Euro control

all that people don't realize that you

actually are paying if you stay

overnight the pilots need to stay

somewhere they are you're paying for a

hotel you're paying for lunch you're

paying for dinner that's not included in

the pilot salary the owner has to pay

that yeah and and the pilots are

brilliant because they'll they'll like

always book Marriotts so they're like

Marriott Platinum or whatever like the

highest level is and they take all the

points I'm like hey when when do I get

my points I'm paying for it let's keep

going the variable cost per hour is

$5,700 so if you flying $400 a year it

cost you 4,000 an hour fixed cost plus

50 so it's $99,500 an hour but if you

start flying more hours then this is

less per hour so it's cheaper to fly per

hour the more you fly it yes if you're

able to Charter this airplane for 12,000

an hour dollars we're talking about and

every hour is costing you half that that

means you're making $6,000 an hour

profit not incl fix Quest if you can uh

chared the airplane reminder it's worth

noting that the more hours the plane has

the less the value the plane has so you

do have depreciation which is not

factoring in here but maybe some would

say that's a smaller D and then you have

to do your maintenance once engine

engines hit a certain hour so then you

have down time uh yes you know honestly

that's actually a good point downtime is

a pain in the butt with the plan

expensive downtime well yeah cuz you

can't function when it's down all right

let's keep going now for 20 hours that's

200 * 6 you're making a profit of $1.2

million that comes off of this and now

your fixed cost are only 400,000 so if

you're flying now this is how to sell a

Plane by the way if you're going to sell

a plane you tell them how you can Airbnb

it that's why real estate prices went up

half to 200 hours and you're and you're

renting enough 200 hours if you get this

to 400,000 and you're flying2 200 hours

a year it's $2,000 an hour plus this so

now it's costing you 7500 an hour and

the more you fly it the cheaper it gets

you'll say well I can go rent it out 300

hours a year you can but you know every

other day you're G to get a phone call

you have to give owner approval and

you're going to say well who is it you

know I just did the interior I I don't

want them to have red wine I don't want

them to smoke I don't want them to have

a dog I don't want them to have a coffee

yeah cuz they're going to split on the

carpet and on a Gulf Stream replace the

C carpet it's

$70,000 so or if you have you know a kid

who's chartering the plane he has a

Sharpie and he oh Mommy Mommy and right

across the wall on the Suede and you

know you're not going to get it out so

you have to replace the P you know these

kind of things are are

[Music]

inconvenient yeah that was great that's

a good point because like you see these

influencers with like their feet on the

uphol stre it's like those are not those

influencers Jets like they are

chartering them somebody will be paying

for those feet marks on the Upholstery

and so when you rent it out it's just

like you're at anybody's well it's also

worth remembering that there is

competition in jet chartering people

like why am I going to go fly imom's jet

uh as a charter when I could go to

netjet

where netjets has a fleet of hundreds of

planes and they have a reputation to

protect so if if you're charging the

same as netjets if they're charging 12K

an hour and you're charging 12K an hour

why would I go to an unknown plane owner

compared to a corporation because here's

the thing plane owners are notorious for

skimping on maintenance whereas

corporations are not because the

corporations have to you know I mean

they they have to they're liable to

their shareholders if they're screwing

up on maintenance you can destroy the

entire company whereas a home you know

an individual owner is just like ah it's

just one plane you know so yeah all

right I want to ask you the question

everybody's wondering why do you have a

jet oh yeah what is the reason and why

can't you just take commercial right

right so so uh my media business so meet

Kevin pays for the plane uh and that's

the that's a YouTube channel house hack

my real estate startup has paid zero

towards the plane we're keeping it that

way as well I mean there's there's no

expectation to ever change that uh the

uh the other businesses or ETF or

whatever nobody pays for the Kevin pays

for the plane we want to make that very

clear why do I pay for the plane I pay

for the plane because I want to be the

best CEO ever and in my opinion if I'm

running multiple companies so I have to

be here in a podcast set I have to be in

my morning Studio set I have to be in

Salt Lake in the afternoon and then I

have to be back for podcast I can only

do that with a plane like this and you

guys have seen it I mean what what has

your experience been mck and over this

last tell tell us some of your days you

would not be able to operate like like

so I go probably on 75% of the trips the

other 25% we still have a team we still

have multiple like multiple companies we

running here I don't go on every flight

but I go on 75% of them and like in the

morning Kevin's media business is the

priority then he goes okay house sack

real estate okay he has some ETF things

he has to answer okay he has some other

meetings with some other businesses that

are in development you could not have

that I don't even want to say luxury it

is a it is very much a tool we don't get

to go oh who gets to go on the private

jet it's like okay everybody has their

iPads cuz they're working on a project

there's always something being done and

if you're factoring if you take that

time that you're saving with a jet and

you were to put that going through TSA

going through security oh your bag got

lost now you have to wait at the baggage

checking for for two hours you you the

amount of time that we save and that's

not the excuse we use but it increases

our productivity to be able to run these

businesses to allow you to be the best

CEO to house act shareholders it allows

you to be the best CEO for your

employees and it allows you to be the

best dad you can be for your kids to be

at home to talk in at night after flying

to three different different states

that's also true yeah I mean we're about

to double our children at home from 2 to

4 and then maybe some more next year not

going wi uh but anyway yeah I mean it's

it's wild I would not have uh decided to

create the real estate startup house

saac if if I didn't have this because I

would have had to have dumped my other

business ideas because then like the

amount of time it takes to operate house

Haack is is it's a lot and I'm willing

to dedicate that time but I I don't have

the time to sit at an airport four times

a week and then never see my family

because then I'm not living then I'm a

slave yeah and and I will always give

every ounce of commitment that my

companies need they're my babies but uh

it wouldn't be possible without the plan

and if you're like as a house act

investor if you're a house act investor

listening to this obviously if you're

interested go to the website read the

circular very important there's always

risks into investing into startups

housec investors are getting The Best of

Both Worlds they're getting you

dedicating every hour possible to house

hack while still getting the benefits of

a jet that they're not paying for such a

huge benefit of being an investor the

company is not paying for the jet like

Kevin says it but as the person that

makes sure that Kevin is doing

everything he's saying he doing he's no

house act does not pay any jet costs it

is phenomenal yeah this is phenomenal

yeah phenomenal just like the feedom 300