[RV_7A]

Has anyone ever considered a partnership? I know nothing about this type arrangement and would like any info on how/if it could work without complications. I know there are risks in everything so that goes withyout saying but the reason I am asking is because I have a friend that is interested in owning and RV and asked if I would like to just go in on a partnership. Im looking for useful info pros and cons and information on how this could be arranged to protect both parties.

-Jeff

 

[Rick6a]

Has anyone ever considered a partnership? I know nothing about this type arrangement and would like any info on how/if it could work without complications. I know there are risks in everything so that goes withyout saying but the reason I am asking is because I have a friend that is interested in owning and RV and asked if I would like to just go in on a partnership. Im looking for useful info pros and cons and information on how this could be arranged to protect both parties.

-Jeff

I was in a partnership in my C-150 for many years. Complicating things, we started out in a 4 way partnership. That was the only way we could afford to give the airplane a very thorough and almost like-new top to bottom refurbishment. Surprisingly, we all got along "reasonably" well for several years. I don't care how deep your friendship is there WILL be times when conflicts arise either through scheduling or maintenance decisions that can run the gamut from just a band-aid fix to a costly replacement decision. Some partners have deeper pockets than others. Sooner or later, your friendship is going to be tested. That is not to say a partnership can't work. They can. People come and go. Over time, partners moved or wanted to step up to higher performance so were bought out. Our partnership worked but worked easier when there was only two of us. Years later, I finally became the sole owner which trust me..... is vastly superior but if the only way you can fly is to pool your resources...proceed...but proceed with the greatest caution. Really know the person you are about to develop a deep financial relationship with.

Rick Galati RV-6A "Darla"