For Sale: Partnership KRBD Dallas Executive DA40XL

Discussion in 'Aircraft, Clubs, and Partnerships - Buy & Sell' started by DrMack, Apr 4, 2019.

  1. DrMack

    DrMack Line Up and Wait

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    Seat available in an immaculate 2007 Diamond DA40XL (N704PA). Currently 4 partners but one needs to sell his seat due to growing family (wife + 2 teen boys + all their team sporting gear + baggage exceeds MTOW).

    Airplane has been hangared since birth. ADS-B in/out installed. G1000 with GFC700 AP and XM WX & entertainment. Meticulously maintained. 1440 TT. No damage history at all.

    Price for the 1/4 share to be negotiated with selling partner. It is owned by an LLC that we formed to own and operate the aircraft. It was organized by hiring a top aviation attorney to make sure we avoided all the common pitfalls. The operating agreement even has an exit article.

    We own the airplane outright. You would be buying into 1/4 share of the net assets of the LLC which is mainly composed of the market value of the airplane plus the engine TBO cash reserve that we have collectively set aside to date (~$20K at present). No lien on the airplane will be offered if you need to finance your share. Only cash will be accepted. If you need to rob banks or borrow from a guy whose middle name is "the", it's your business :).

    Each owner currently pays $400/month into the general operating fund to cover fixed costs like hangar rent, insurance, scheduled maintenance (annual and ADs). Variable costs like oil changes and non-scheduled maintenance squawks are covered by paying in $35/TACH HR also into the general operating fund. We each pay for our own fuel, oil and other direct expenses like FBO fees.

    Current owners are ~500 hours each, all instrument rated, and financially stable professionals. We have a commercial real estate executive (selling his seat), two IT professionals and an SMU professor. We take flying by the book very seriously.

    We schedule using a weekly rotating "first refusal" system. The privilege of first refusal allows the pilot holding it to schedule the airplane no questions asked. A week begins on Tuesday and ends on Monday. In all the years we have owned the airplane there has never been a conflict. If it's not your week, all you have to do is ask the pilot who has the first refusal privilege that week if the airplane is available. I can't remember the last time one of my partners said no.

    If interested please email drmack911 at g mail d ot c om.
     

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  2. AggieMike88

    AggieMike88 Touchdown! Greaser!

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    The original "I don't know it all" of aviation.
    Don't forget to post this on North Texas Aviators...
     
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  3. DrMack

    DrMack Line Up and Wait

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    Is "North Texas Aviators" the Facebook group?
     
  4. Plano Pilot

    Plano Pilot Pre-takeoff checklist

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    "Current owners are ~500 hours each"

    So 2000 hours on the airplane a year???? I am guessing 500 hours total on the plane a year.
     
  5. DrMack

    DrMack Line Up and Wait

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    Each pilot has about 500 hrs total. In peak years we fly about 60 hrs each.

    Sent from my Pixel 2 using Tapatalk
     
  6. flyingcheesehead

    flyingcheesehead Touchdown! Greaser!

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    Yes.

    And this would be a great bird for someone without such a high useful load requirement as the guy who is selling. The DA40 is a really fun plane to fly, it's incredibly efficient, great view, sexy, etc... And the rates here can't be beat. $35 per tach hour (presumably that's from the G1000's engine page, which is really flight hours)? Add in the 10gph or so and you're still under $100/hr wet, for a 140+-knot airplane. That's a steal, even with the $400/mo for fixed costs.
     
  7. AggieMike88

    AggieMike88 Touchdown! Greaser!

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    The original "I don't know it all" of aviation.
    Yup!
     
  8. DrMack

    DrMack Line Up and Wait

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    Thanks for the de facto endorsement. The last time I calculated the cost per tach hour it came out to about $110 per hour wet. Of course the more hours one flies per year, the lower that cost. Typically I see 135 - 145 TAS depending on how much fuel I don't mind burning.

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  9. RyanShort1

    RyanShort1 En-Route

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    Hey, if you see one of the Cardinals out in front of Ambassador sometime say hi!
     
  10. 3 in the green

    3 in the green Line Up and Wait

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    Dang, this will be a sweet arrangement for someone.
     
  11. DrMack

    DrMack Line Up and Wait

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    It has been for us.

    I have flown into KSNA quite a few times and used the Atlantic FBO. Never landed on the taxiway though :). People look at our airport under the DFW bravo shelf and often remark at how hard it must be to fly in such a busy airspace. I then suggest to them that this is easy compared to socal. I used to work for Google in the OC office at Jamboree and MacArthur and have done several round trips between KSNA and KPAO for business at the mothership in Mountain View and boy did that tune up my long atrophied VOR skills. I even had the occasion to fly on TEC routes between KSNA and KEMT, not knowing that such things even existed in the NAS until I got out there. So my hat's off to all you folks who fly there as a routine.