38bat
New Member
I am thinking of putting my cherokee 160 into a partnership/flying club. Nice airplane with less than 500SMOH and 3000ttaf, IFR, all speed mods etc.. Prices include maintenence, reserves, hangar fees, insurance. I am thinking of adding 4 partners/members plus myself. After running the numbers it looks like this:
Scenario 1: $2500 buy in, $70 monthly, $32 hour dry
Scenario 2: $2500 buy in, $0 monthly and $54 hour dry
Or??? Any pitfalls other than the obvious? The other question I had is that originally I had thought of offering 20% ownership to each member. Is this a good idea or would it be better to lower the buy in and make it more of a club where I own the plane? Input welcome, thanks guys!!
What do you guys think? Any suggestions? Does this sound appealing? I thought that $32 an hour for a nice IFR airplane sounded really good but am interested in hearing opinions. I am open to other ideas as well. Thanks!!
Scenario 1: $2500 buy in, $70 monthly, $32 hour dry
Scenario 2: $2500 buy in, $0 monthly and $54 hour dry
Or??? Any pitfalls other than the obvious? The other question I had is that originally I had thought of offering 20% ownership to each member. Is this a good idea or would it be better to lower the buy in and make it more of a club where I own the plane? Input welcome, thanks guys!!
What do you guys think? Any suggestions? Does this sound appealing? I thought that $32 an hour for a nice IFR airplane sounded really good but am interested in hearing opinions. I am open to other ideas as well. Thanks!!