Seeking 2 ppl in Utah to partner in RV-10

Seeking 2 ppl in Utah to partner in RV-10

My friend and I own a piper Cherokee out of U42 in West Jordan Utah. We are seeking 2 others to fund & co-own a new RV-10 with us. Ideally, we'd find 2 ppl & at least one of them would have tools & experience building planes & we'd help him build it (and all 4 of us would help fund the build). In this scenario, we could use the RV-10 Empennage kit I already have here in South Jordan & I estimate we could build a really nice one with glass pannel etc for $175-200k.

OR ... we're also open to finding 2 ppl who (like us) don't have experience & tools to build the plane to join us (4 total) that will fund the build of the RV-10 by myself and Synergy Air in Oregon (this approach will cost roughly $300k b/c Synergy will help with TONS of the build & mentor/guilde me ... I'll spend a ton of weeks up there during the build to satisfy the 51% experimental rule).

The goal is to end up with 4 co-owners of a new RV-10 approx 2 years from now & park it in our covered spot (or enclosed hangar, which we should have by then) at U42 in West Jordan, Utah & share it.

Lmk if interested.

+2 for Synergy Air and Synergy Air South!

golfmogul said:

Seeking 2 ppl in Utah to partner in RV-10

OR ... we're also open to finding 2 ppl who (like us) don't have experience & tools to build the plane to join us (4 total) that will fund the build of the RV-10 by myself and Synergy Air in Oregon (this approach will cost roughly $300k b/c Synergy will help with TONS of the build & mentor/guilde me ... I'll spend a ton of weeks up there during the build to satisfy the 51% experimental rule).

The goal is to end up with 4 co-owners of a new RV-10 approx 2 years from now & park it in our covered spot (or enclosed hangar, which we should have by then) at U42 in West Jordan, Utah & share it.

Lmk if interested.

Click to expand...

Just an opinion based on my experience of building an RV-7A and much of an RV-10 with Synergy (both locations) - if you can afford the time away from home and the additional cost - you will have an amazing experience and will end up with a very high quality build. The “tribal knowledge” that exists at Synergy doesn’t exist anywhere else and will save you countless hours of head scratching and frustration.

Eugene is a unique city and despite the somewhat liberal bent (I’m a conservative from Georgia), I really enjoyed the time I spent there. The people you work with are honest, hard working and just fun to be around. The other builders are generally as excited to be there as you are and you will learn something from everyone you meet there.

I hope you find a couple of partners and decide to build your dream plane at Synergy.

JMHO

Here is my take on doing a partnership build. Don't!

The thing that makes Vans kits work is doing most of the building at your home shop. When you have a partnership, "home shop" will only apply to one person. Everyone else will have to travel. It will start out with lots of enthusiasm but as the build wears on people will lose interest.

In the end the partnership will probably dissolve/change and people will want out and want to recoup their $$$. It may not be pretty.

You would be better off finding one partner, or buying a flying airplane for the partnership.

-Marc

golfmogul said:

….at least one of them would have tools & experience building planes & we'd help him build it …
d.

Click to expand...

This reminds me of an old joke:
‘Shop rate: $50/hr, $60/hr if you help’

Seriously, a build partnership can work. But it requires a lot of effort, and some luck, in finding partners that are compatible with one another.

Plummit said:

Here is my take on doing a partnership build. Don't!

The thing that makes Vans kits work is doing most of the building at your home shop. When you have a partnership, "home shop" will only apply to one person. Everyone else will have to travel. It will start out with lots of enthusiasm but as the build wears on people will lose interest.

In the end the partnership will probably dissolve/change and people will want out and want to recoup their $$$. It may not be pretty.

You would be better off finding one partner, or buying a flying airplane for the partnership.

-Marc

Click to expand...

Thx for the feedback - In the 4 person partnership I'm looking for, I'm only expecting 1-2 to build (me + someone as the expert w/tools & shop etc ... and I have the motivation & time to go there to help often). OR, if we go with synergy, 3 passive (financial & own/fly only) partners + me as the one partner who will go to Synergy in OR to build with them).

There are so many ways this can go wrong: the ‘builders’ will feel they should have more say than non-builders. Come annual condition inspection time, the one repairman certificate holder will have veto power over the other three. The first thing I would do would be to sit down and write out a partnership agreement that everyone can agree to. I think AOPA has samples. Put down in writing every contingency that you can think of, including how exiting the partnership will be handled. Another issue: the least experienced pilot will govern the insurance cost. How will you handle that? This is not simple.