Best way to sell a share?

Flyhound

Flyhound

Pre-takeoff checklist
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Flyhound
About 5 years ago I bought a 1/5 share in J. F. Kennedy Jr's old 182 - N529JK. It is a straight leg 182 with the Texas Skyways 0-520 280 hp engine and full IFR panel with a Garmin 430 WAAS GPS. It was (and is) a good plane. Unfortunately, I got hooked on backcountry flying and bought a Maule before I sold my share in the 182. I had advertised my share in the 182 for sale on the AOPA Aircraft Partnership boards but AOPA shut that down before the share sold. I also put flyers up on bulletin boards in local airports. Still no joy. Any advice on the best way to advertise and sell a share in a plane now that AOPA shut down their aircraft partnership bulletin board? The plane is based at KRMN in Northern Virginia.

iIkRJlN.jpg
 
...its tough...i found the plane I bought into from a flyer the partners made up and hung on the bulletin board at my flight school. We've thought about adding a 5th but had a hard time getting folks...and then one's that did show up didn't fit our 'culture'. I'm interested to hear what other folks are doing - internet/website wise though. When I first started looking I was on that AOPA site - didn't know they shut it down.

Pretty plane though - looks like a gem.
 
Very nice looking 182 !
Can you tell us more about the plane and the partnership and .....
Someone here maybe interested . :idea:
 
What you are experiencing is the biggest downside of partnerships.

In one of my two partnerships, I tried unsuccessfully to sell my share for two years before invoking a clause in our partnership agreement that forced the sale of the aircraft by the partnership. I was not popular with the other two guys, but either of them could easily have written the $50K check to buy me out. The other partnership I was lucky because my partner happened to take a friend of his flying and that friend got hooked and learned to fly. He bought my share a year or so later.
 
I won't claim it's the best way, but I found my partners via craigslist.
 
Flyhound said:
About 5 years ago I bought a 1/5 share in J. F. Kennedy Jr's old 182 - N529JK. It is a straight leg 182 with the Texas Skyways 0-520 280 hp engine and full IFR panel with a Garmin 430 WAAS GPS. It was (and is) a good plane. Unfortunately, I got hooked on backcountry flying and bought a Maule before I sold my share in the 182. I had advertised my share in the 182 for sale on the AOPA Aircraft Partnership boards but AOPA shut that down before the share sold. I also put flyers up on bulletin boards in local airports. Still no joy. Any advice on the best way to advertise and sell a share in a plane now that AOPA shut down their aircraft partnership bulletin board? The plane is based at KRMN in Northern Virginia.

iIkRJlN.jpg
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Talk to some of the flight instructors at your airport. Many times they have a student they're finishing up who's talking about buying an aircraft as soon as they get their certificate. A partnership is an economical way to start ownership that many newly minted pilots aren't aware of.

Also...I thought there was some website that provided a database where owners looking for partners and aircraft owner wannabes were brought together. I thought that AOPA had something like this...but I could be mistaken.

If something like this doesn't exist ... it should be.

Another thought is an add in Trade-a-Plane or Barnstormers.com.

Gene
 
I don't recall you posting an advertisement on the DCPilots Yahoo group. We have sold two 1/5 shares in less than 30 days this past year, both due to posting there (we also posted fliers and used AOPA).
 
Post a note on the DCPilots yahoo group. I know there are plenty of folks from that area on there. Won't cost you anything either.
 
drgwentzel said:
Also...I thought there was some website that provided a database where owners looking for partners and aircraft owner wannabes were brought together. I thought that AOPA had something like this...but I could be mistaken.
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AOPA did have this system for about 2yrs. And it was recently shut down.

But the idea of listing it on Barnstormers is a good one. As is Craigslist.
 
Thanks for all the feedback. I'll certainly hit the DC Pilots Yahoo boards. Here's more info on the plane: As mentioned before, it has the Texas Skyways STC for the Continental O-520 engine that puts out 285 hp. It has a 3 blade CS prop and a full IFR panel with a Garmin 430 WAAS & Garmin 396, S-TEC autopilot, EDM-700 engine monitor, ZAON collision avoidance, and many other panel goodies. The partnership charges $21/hr dry with no daily minimum hours when on a trip. The plane was just stripped to bare metal, inspected for corrosion and repainted in May of 2013. This bird will haul all your stuff at 165 MPH at 65% power. It is a travelling machine. I’m selling because I bought a taildragger for backcountry flying. The taildragger is also easier for our old dog to get in and out of - so she's staying with us!

The partnership has been around for a long time and still has 3 of the original members. Scheduling is done through Goggle Calendar and we have a managing partner that is responsible for scheduling maintenance, including data updates for the GPS.
CvnYoh1.jpg

 
Looks great. If you were in Northern Nevada, I'd buy it. I second the thought to find a CFI to pitch it to students (PPL, Instrument, Comm - doesn't matter).
 
DesertNomad said:
Looks great. If you were in Northern Nevada, I'd buy it. I second the thought to find a CFI to pitch it to students (PPL, Instrument, Comm - doesn't matter).
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Also, don't limit the CFI idea to just CFI's...talk to all the DE's too.

Gene
 
Is there a reason why you aren't telling us the price?
 
Deals like this make me question my sole ownership - lemme think - nyaaaaaa, one marriage is enough and I love writing 4 figure checks to my mechanic every time I turn around.
 
Very nice plane, price sounds right. What are the monthly fees to cover fixed expenses ?
 
Not much serious backcountry flying on the east coast, but there are quite a few small grass strips scattered around. Most are private, so it takes connections to use them. I bought my Maule in the Seattle area and flew it back to Virginia late last summer. Later this year I hope to move to the northwest where I'll be within striking distance of some great back country options. Lots of loose ends to tie up first. Selling the 182 is high on that list. I've already gotten several nibbles from my posting on the DC Pilots Yahoo group. That was a great suggestion and a site I was completely unaware of.
 
As far as the fixed costs go, we split the $400/month hangar rent five ways. Insurance runs about $1600/yr, but that changes with the experience level and ratings of the pilots in the group. 4/5 in the group are currently instrument rated and 2 of us have commercial licensees. We also split the cost of the Garmin 430 database, about another $450/year. Maintenance is pay as we go, but it has been quiet on that front since we had the plane stripped to bare metal, re-chromated and repainted last spring. The $21/hr dry rate goes into the engine overhaul fund which is almost sufficient for the rebuild it will need a couple of years down the road. We do all allowed owner maintenance like oil changes ourselves and that cuts the cost a bit. Overall it had been a great plane in a great ownership group and there is a great hangar at a nice airport. I just got hooked on flying off of rough grass strips and this isn't the bird for that mission.
 
Flyhound said:
I've already gotten several nibbles from my posting on the DC Pilots Yahoo group. That was a great suggestion and a site I was completely unaware of.
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You're welcome. You will find my brokerage fee to be quite reasonable. :D
 
One reason you may have issues finding buyers is that getting to Stafford is a long hard slog down I95 from anywhere further up in NoVA any time of the day people would want to use a plane. I live in MD but own a share of a plane at Manassas and there is just no good way to get there on a friday afternoon or sunday evening.
 
Yeah 95 southbound on a Friday afternoon is a drag. Living in Manassas, VA, there is a backwoods way to get to the airport. Driving by farms and fields around the edge of Quantico is a delight no matter what 95 looks like. Sometime later this year we will move. One of my criteria for any future home purchases is to be less than 15 minutes away from the airport I keep my planned at. Another criteria is having broadband internet access. It is amazing how difficult meeting those 2 criteria can be.
 
Flyhound said:
Yeah 95 southbound on a Friday afternoon is a drag. Living in Manassas, VA, there is a backwoods way to get to the airport. Driving by farms and fields around the edge of Quantico is a delight no matter what 95 looks like. .
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17 years old, '71 Spitfire passed down from Dad, living under the downwind at Manassas, and a balance to spend at the Quantico Flying Club.

Route 619 was truly my yellow brick road to my life in aviation, and oh so fun in those days to play on. :yes:
 
Brad Z said:
Post a note on the DCPilots yahoo group. I know there are plenty of folks from that area on there. Won't cost you anything either.
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Just a follow-up, the DCPilots yahoo group worked since I'm the one who bought from FlyHound. Now, if I could just get to fly in his Maule ...

pemora
 
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