TazzyTazzy
I'm New Here
I'm wanting to build an rv-10, but my better half isn't too happy with the recurring fixed costs; notably hangar and insurance in Sacramento. So, I'm trying to explore my options to cut these down.
I know there's partial ownership to share the plane with 1 or 2 others. However, I'd like to keep control of the plane that I plan to build.
I'm trying to think of something that would be fair for the partner. For example, I'm thinking to offer one or two people to buy a non-voting share of the plane as well as a monthly 'fee'. Scheduling would work just as if we were 50/50 partners. One person would be primary for the week, while the other would be secondary, and that would rotate each week.
As a trade off for the non-voting rights, I would pay for all upgrades. Repairs would come from a mx fund that is funded by hourly operating rate, which I would do myself if possible. If repairs (parts) exceeded the fund, then the partner would have to pay their share.
What do you all think? I'm thinking like a $30-$40k 'buy in', and a $200/month fee (which almost covers half the insurance and hangar, assuming 1 partner), and an hourly wet rate to cover engine/prop rebuilds and repairs. The other benefit for the partner is that they don't have to get pre-buys or pay for 50% of the plane. If the plane isn't good for them, they can simply leave and I return their buyin.
Of course, would have an exit strategy for the partner wanting to leave or I want them to leave if they are bad partners. I can just simply return their buyin money and we split ways. The buy in money would also double as a deposit for any damages they have caused. The partner would not be responsible for any depreciation of the plane, but wouldn't get appreciation either. Nor would they get any interest from the buyin price.
Anyways, my mind is just wondering and I'm trying to find a solution that is both fair to the partner and myself.
I appreciate your feedback. If you have a better idea, I'll be happy hear that.
If you could get 50/50 schedule rights without the worry of pre-buys, not having to pay an A&P for most things, or 50% payment of the plane: would you be interested? Why or why not?
I know there's partial ownership to share the plane with 1 or 2 others. However, I'd like to keep control of the plane that I plan to build.
I'm trying to think of something that would be fair for the partner. For example, I'm thinking to offer one or two people to buy a non-voting share of the plane as well as a monthly 'fee'. Scheduling would work just as if we were 50/50 partners. One person would be primary for the week, while the other would be secondary, and that would rotate each week.
As a trade off for the non-voting rights, I would pay for all upgrades. Repairs would come from a mx fund that is funded by hourly operating rate, which I would do myself if possible. If repairs (parts) exceeded the fund, then the partner would have to pay their share.
What do you all think? I'm thinking like a $30-$40k 'buy in', and a $200/month fee (which almost covers half the insurance and hangar, assuming 1 partner), and an hourly wet rate to cover engine/prop rebuilds and repairs. The other benefit for the partner is that they don't have to get pre-buys or pay for 50% of the plane. If the plane isn't good for them, they can simply leave and I return their buyin.
Of course, would have an exit strategy for the partner wanting to leave or I want them to leave if they are bad partners. I can just simply return their buyin money and we split ways. The buy in money would also double as a deposit for any damages they have caused. The partner would not be responsible for any depreciation of the plane, but wouldn't get appreciation either. Nor would they get any interest from the buyin price.
Anyways, my mind is just wondering and I'm trying to find a solution that is both fair to the partner and myself.
I appreciate your feedback. If you have a better idea, I'll be happy hear that.
If you could get 50/50 schedule rights without the worry of pre-buys, not having to pay an A&P for most things, or 50% payment of the plane: would you be interested? Why or why not?
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