gprellwitz
Touchdown! Greaser!
- Joined
- Jun 19, 2005
- Messages
- 12,774
- Location
- Romeoville, IL
- Display Name
Display name:
Grant Prellwitz
Okay, this is VERY preliminary, but I've just learned about a partnership opportunity that's becoming available, and wanted to get an idea what to look for.
About 6 months ago I was talking to someone at our local airport and found that he was in a 4-person partnership in a Turbo Cessna 210 based at an airport that's even closer to our house. I told him to call if there was a spot available, and I got a voice message tonight that one of the partners was retiring and moving out of the area.
Leslie and I have been looking for a plane for a number of months now and, while this is probably more plane than we were initially considering (TR-182), it isn't out of the ballpark, especially if the up-front costs are minimized by a partnership.
However, it'll be our first plane ownership experience, and it isn't a beginner's plane. I'm looking for advice on what to look for in the partnership.
As I understand it (6-month old and from memory), we would be the least-experienced owners i the partnership. Additionally, there would be two of us taking on the ownership from a single member. We might fly more than the typical 1 member, but not as much as 2 members, though we would both want to be listed on the insurance policy.
Additionally, I seem to recall (and this could certainly be wrong) that they do not currently have it set up with an IFR GPS, something that we consider important, since the home airport does not currently have an ILS. Should we underwrite an upgrade to the GPS?
What else should we watch out for? Obviously scheduling history. How does financing work with something like this?
About 6 months ago I was talking to someone at our local airport and found that he was in a 4-person partnership in a Turbo Cessna 210 based at an airport that's even closer to our house. I told him to call if there was a spot available, and I got a voice message tonight that one of the partners was retiring and moving out of the area.
Leslie and I have been looking for a plane for a number of months now and, while this is probably more plane than we were initially considering (TR-182), it isn't out of the ballpark, especially if the up-front costs are minimized by a partnership.
However, it'll be our first plane ownership experience, and it isn't a beginner's plane. I'm looking for advice on what to look for in the partnership.
As I understand it (6-month old and from memory), we would be the least-experienced owners i the partnership. Additionally, there would be two of us taking on the ownership from a single member. We might fly more than the typical 1 member, but not as much as 2 members, though we would both want to be listed on the insurance policy.
Additionally, I seem to recall (and this could certainly be wrong) that they do not currently have it set up with an IFR GPS, something that we consider important, since the home airport does not currently have an ILS. Should we underwrite an upgrade to the GPS?
What else should we watch out for? Obviously scheduling history. How does financing work with something like this?