Owning in retirement

Robert M. Gary wrote:
On Apr 24, 7:54 am, Ross wrote:
Mike Noel wrote:

I have always been sole owner of the plane. I have been thinking about a
partnership, but then I have someone else to work with on how it is
flown, maintainence, etc. I have never been there. Not saying it is bad
as lots of folks do it. I guess a two way partnership splits everything
50-50 except the gas, oil, and reserves. Need to look at what AOPA has
on the website.

When I did it we charged monthly dues to cover all fixed expenses and
then figured all variable expenses (repairs, not routine parts of
annual) to an hourly rate that we charged. That way the guy who flys
10hr/yr can get along with the guy who flys 100hr/yr. Everyone is
interested in keeping the maintenance top notch so there isn't much
concern there. It also helps during owner-assisted annuals because you
have more hands turning screws (something like 1000 screws to annual a
Mooney).

-Robert

Scratch Mooney as a plane to upgrade to... Actually, I used to work with
a john Mooney that was the son of the founder. He used to work at Texas
Instruments years ago.

--

Regards, Ross
C-172F 180HP
KSWI