Has anyone bought an airport for investment purposes?

[John Pelaez]

I came across an uncontrolled airport for sale and was curios about it. How would I underwrite it? What cost can I expect for maintaining the airport? What can I expect from the government?

[Bryce K.]

The best way to make a little money in aviation is to start with a lot of money. Is it a private airport, or public use? What is the identifier? Grass or paved runway? Instrument approaches or visual? Any aircraft currently based at the field, any hangars? Fly-in community, or airpark type of place?

Several small public airports have sold in northern Ohio in the past decade, and most are doing okay. Hangar space is at a premium in the area, but maintenance and insurance costs are rapidly rising. Several large hangars have been converted to indoor sport fields.

Most communities hate the local airport for the noise, and local governments hate them for the cost. Very tempting to tear up a runway, build houses, and collect the tax revenue. Look at what's happening in Santa Monica, and what Daley did to Meigs Field.