I recently took a private railcar trip and found the experience great. I am in a position to look for a second career and wondered what it would be like to own a private railcar for hire. Is this something that can be profitable? Do any of you out there have any experience in this area? I would love to hear about it. Thanks, Bill
Posted by George Harris (Member # 2077) on :
There are others that could probably give a better and more detailed answer, but it is said to be like owning a yacht, except worse. What is a yacht? It is a hole in the water that you must keep filled with money.
I think most private car owners do it for the love of it and with the resources to keep it. The for-hire is more to reduce their outgo than to make a profit.
Posted by ehbowen (Member # 4317) on :
While at present I can do no more than dream about private car ownership, I can suggest the following resources:
Having work with PV’s (private car or private varnish) from the 1960’s to the present, also being a partner in one many years ago. I can offer a few ideas. Get to know the car owners in your area also the get to know the mechanical people and the crews that work on cars. Ride on as many trips and cars as possible, talk to the people. If there area any groups in your area that are working on passengers cars get involved with them the stuff you learn about cars will help. As for information, Stan Garner (owner of the PV Pony Express) has web site that give a quick over view of PV ownership http://www.movie-train.com and click on private car ownership. I would join both America Association of Private Railroad Car Owners http://www.aaprco.com mostly Amtrak compliant cars, owners, operators & people who just like PV’s, Railroad Passenger Car Alliance http://rpca.com people who are working on cars, non Amtrak compliant cars, owners, operators, tech. people and people who just like PV’s. These are generalizations, many people in the PV world belong to both organization. Go to both groups conventions AAPRCO is in the early fall and RPCA is in January around Martin Luther King weekend (the 2007 RPCA is Jan. 12-15 in San Jose, CA). Owners can hope to break even, very very few make a small profit. Some Question to ask yourself. What type of car do I want, what will the car be used for, what level of service do I want to provide, will the car be use on Amtrak and how much money and time am I willing to spend? PV ownership can be summed up in what a long owner calls the three T’s: Time Talent and Treasure in you do not have the first two then you had better have a lot of the third. Think long and hard about PV ownership and have plan. I have seen to many people buy a PV because it sounds like fun. Then burned out with all the work involved, and abandon the PV. A saying among owners is a private car is a hole in the track to pour money down. In all the years, I have been involved with PV’s I can say that it has been fun even if we do own a car. My wife and I have made life long friends in the PV world. Even if you decided not have a car, join the PV world. Ron
Posted by RMilot (Member # 3280) on :
I just notice a typo at the third to last sentences it should read: it has been fun even if we do not own a car. Ron