all the 172 jokes have finally gotten to me

Mahneuvers said:
Also, in reading the partnership agreement, only a majority approves maintenance decisions which means it could be two against one.
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IMHO - this feels like maintenance by committee. What if they are on the cheap side? Or, what if the other two go all in with the latest gadget and are essentially getting a 33% discount - you paying for a third.

With only 3 people, you’re putting in a lot of money for no control over the asset. I’d either continue to rent or figure out a way to own a plane by yourself.

Yeah - I’ve gotten more skeptical and suspicious of people lately…..
 
Recent maintenance receipts & a logbook review would show what they're fixing on the plane and have paid.
 
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Is this recent or a consistent pattern of upkeep? Will you do a pre buy inspection ?
 
With uneven buy in what happens if two members want to sell? Who gets what?

Much simpler if three guys go in on purchase.
 
bonefishpete said:
With uneven buy in what happens if two members want to sell? Who gets what?

Much simpler if three guys go in on purchase.
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Each share is a 33% ownership stake. You get 33% of the proceeds when the partnership is disbanded regardless of basis.

I think starting a new partnership is a much more difficult proposition than buying into existing.
 
bonefishpete said:
Glancing at trade a plane seems overpriced unless the very latest avionics.
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They relatively recently (I don't know the date) invested 45K in avionics. The one item they didn't upgrade was the 430W.
 
Mahneuvers said:
They relatively recently (I don't know the date) invested 45K in avionics. The one item they didn't upgrade was the 430W.
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Paint and interior shape then.

Cross check TAP would give you a good idea of cost.
 
Mahneuvers said:
They relatively recently (I don't know the date) invested 45K in avionics. The one item they didn't upgrade was the 430W.
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IMHO - if you still have a GNS 430W you didn’t upgrade the avionics. You need to spend $ to get rid of it. Yeah - I’m in a get off my lawn mood today. I’ll be better tomorrow.
 
WDD said:
IMHO - if you still have a GNS 430W you didn’t upgrade the avionics. You need to spend $ to get rid of it. Yeah - I’m in a get off my lawn mood today. I’ll be better tomorrow.
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You have a very strange lawn.
 
iamtheari said:
You have a very strange lawn.
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Eh. Patches are close to dead. Lack of rain in ATL land. I’m running the sprinkler now, so we shall see if it comes back.

Bonus - easy to do weeding. Just pull up anything green; it would be a weed, of course not the grass.
 
I learned in C150 and C172. Getting in a 182 was like getting in Crown Vic.
 
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About the TT, it would actually be the low TT aircraft for sale that would concern me, as it probably means it’s been sitting for lengthy periods of time.
 
WAAS Garmin 430 is slide-in replacable with Avidyne IFD-440. 1 hour labor for setup and paperwork. Easy peasy.
 
WDD said:
Is this recent or a consistent pattern of upkeep? Will you do a pre buy inspection ?
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I would never buy a plane outright w/o a pre-buy. Maybe I shouldn't feel this way, but, I'm currently thinking reviewing logs/maintenance history is sufficient.
 
2-Bit Speed said:
...Can you negotiate with them an agreement that the money you pay for the share becomes the reserve...
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That would work if they were just adding a partner. In this case, one partner is exiting and taking his equity w/ him.
 
I approve of this Cessna


www.controller.com

1978 CESSNA 340A For Sale in Idaho Falls, Idaho

1978 CESSNA 340A For Sale in Idaho Falls, Idaho at Controller.com. New to the Market! Comes equipped with a Garmin 750Xi and Garmin G650Xi. Please call Haley Perkins at International Aircraft Marketing & Sales for additional details.
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He's firm at 75 so it's probably not going to happen.
 
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