If this is your first visit, be sure to check out the FAQ by clicking the link above. You may have to register before you can post: click the register link above to proceed. To start viewing messages, select the forum that you want to visit from the selection below. |
|
|
Thread Tools | Display Modes |
#11
|
|||
|
|||
Cessna 210 Lease or Flight Club?
On Mar 16, 10:05*am, tatermunk
wrote: I have a question about some of the legalities of what I am in the process of doing. If anyone can point me in the right direction I welcome and appreciate all opinions and advice. I am in the process of purchasing a Cessna 210. I have 3 signed 1 year lease agreements with pilots in my area. I have a $1200 deposit from each pilot and when I reach 6 pilots I will purchase the aircraft. They agree to $600 per month for a year for 10hrs per month. Any hours flown over the 10hr allowance will be an additional $60 per hr. Insurance, Maintenance, Hanger, etc. are all included. For me, that covers the cost of the plane, hanger, insurance, and a hefty maintenance reserve. However, I will/can still make a profit depending on how I structure the maintenance reserve. Is there any problem with the way I am structuring this? And other than paying taxes and making sure my insurance is covered correctly... Is there any problems with making a profit from this? Thanks to anyone who can help. -- tatermunk I can see some legal problems. What are they buying with the $1200 deposit against? Are they buying part of the plane or part of the LLC? If they are buying the LLC then each member after the first would get a portion of the money paid by additional members. One member (yourself) cannot get a higher % of new member buy in money than existing members get (using member in the LLC context). -Robert |
Thread Tools | |
Display Modes | |
|
|
Similar Threads | ||||
Thread | Thread Starter | Forum | Replies | Last Post |
Club Startup, operating procedures,lease agreements, etc | [email protected] | Soaring | 0 | March 26th 07 08:34 PM |
cessna 172 club??? | houstondan | Owning | 8 | April 21st 06 02:11 AM |
Sample club lease | cfinn | Soaring | 0 | April 6th 05 11:45 PM |
Urgent -- model lease/charter contract for club glider | Natalie Luebben | Soaring | 0 | July 21st 04 03:41 PM |
Cessna 150-152 club forum crisis | avqpilot | Owning | 2 | August 16th 03 03:46 AM |