What to do?

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Thank you for the words of advice. I crunched some numbers and this is what I came up with. To put 200 hours of multi-time in my logbook would be about $15,200 if I bought the plane. Get a top notch platform for the same price as any time building program. Of course there are drawbacks. Still not sure what to do! Any more advice is appreciated

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$15,200/$200 = $76.00 per hour

That is indeed a good price, but the trouble I would see is the same trouble your friend is having now......

Getting rid of that share.

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Yes but I found out more about it. He hasn't tried to get rid of his share. He VERY well knows the plane will sell itself. Another partner in the plane was able to get rid of his share earlier this year in four months. The trick is as soon as you buy it you start looking for those to buy your share. I would offer some of my students that were looking to buy planes rides in the plane to get them interested. Engines still have 1000 hours on them and the airframe only has 3000 hours on it. Furthermore, my share I would not buy outright but I would split it with someone else looking to build time to defray my costs.
 
If it's about the same price as a timebuilding program, I personally would go with the time building program. Here's why:

Ownership has a lot of hidden headaches. When is the annual due? Who pays what when (not if) something breaks? Is insurance included in the price? What happens if two people want to fly at the same time? What if you CAN'T sell your share when you're done? Is it cheaper to fuel at the other airport and THEN fly home?

If it were significantly cheaper than a time building program, I'd say go for it. If it's about the same, I'd rather rent and let someone ELSE deal with the headaches.
 
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I'm sitting right at 50 ME right now, so I need to find out what the MEI insurance mins are for Skymates.

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ATPs insurance min is 50 multi, and I'm sure Skymate's requirements are comparable.

How much value does this Seneca share have?
 
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