Good first partnership or not? 1/6th Cherokee 140 Share in CA

Noah,

I remind my airplane partner every now and then that "the only reason
we are in this partnership is that neither one of us can afford to own
a plane by ourselves."

I would jump at a 6-way that has only one opening, and only 3 flyers
and 2 supporters.

- It not much money (as compared to buying your own).
- You can always sell it (the 5 partners would prolly buy it back from
you).
- you'll get to learn a lot about maintenance - Gluing the nose
fairing back on.
- With only 3 other pilots, the plane shouldn't get tore up much worse
than it already is.
- TBO - Unless you have a reason to overhaul (it's not 135 or
otherwise flying for hire), run it until it starts making metal, or
the compressions get low. This could be 2500 or 3000 hrs.
- HEY IFR - it has a glideslope - you can start on your rating.

Yeah there are downsides, by they all appear manageable.

Things I would avoid:

- six-partnership, but only one or two current members.
- Too expensive or complex of an airplane.
- poor location - too far from home.
- Air plane too junky - not safe - don't fly over water or town...

Mitch N7155A - N10681 -
http://groups.yahoo.com/group/N10681/

"Ed Haywood" wrote in message .com...
"noah" wrote in message
om...


Thanks for your thoughts & concerns - you may just talk me out of
it!
Noah


Bah! You'll find something not to like in every deal you consider. Until
you're rich enough to pay for perfection, you gotta take the good with the
bad.

The overhaul isn't a deal-breaker. Just ask the other partners what has
been discussed WRT the upcoming overhaul. You may find they already have it
worked out.

So all 6 of you pay $2,000 each for an overhaul. Or even $3,000 each for a
full firewall forward overhaul. Big deal. That's not a whole lot of money
for the peace of mind of knowing your single engine plane has a new,
reliable engine in it. You don't lose that money, it raises the value of
the airplane and your equity stake in it.