And Now, Allow Me to Introduce...

[OkieAviator]

My co-owner and I will continue at the rate they had been prior to my coming into it. We pay $50 per hour for flights 2 hours or less, and $35 per hour for flights longer than 2 hours.

That's strange... It's a 50/50 partnership why not just split MX 50/50... Everyone pays for their own gas... When someone sells their share or what have you they pay the other guy tach time x $10 or whatever the overhaul would be.

My planes 2 man partnership is this way and Oct 1st we are adding two more guys and keeping it that way... Except obviously split MX 4 way though coming up.

 

[ksandrew]

Glad to see that no posters are talking about parts. Commander parts are easier to get then Cessna or Piper parts and at half the price.

Folks who have never flown a Commander, or owned one, will tell you that parts are not available. This is not true.

I have owned two 112 Hotshots and they are fantastic airplanes. Today I flew from NW Mo. to South Georgia, from the Commander Owners Fly In. Just a pleasure to fly.

Life is a barrel of fun.

Ken Andrew
N1182J

 

[lovetwinprops]

That's strange... It's a 50/50 partnership why not just split MX 50/50... Everyone pays for their own gas... When someone sells their share or what have you they pay the other guy tach time x $10 or whatever the overhaul would be.

My planes 2 man partnership is this way and Oct 1st we are adding two more guys and keeping it that way... Except obviously split MX 4 way though coming up.

I've never heard of such an arrangement before. Everything I read and was told about co-owning a plane is that everyone pays an hourly rate agreed to by all into a maintenance fund. That way, as long as people are flying it, there will always be money available to pay for both regular and unscheduled maintenance. There will be no surprises or ill-timed bills to pay. Also, whoever is flying more hours is contributing more to the fund, which to me seems fair.


Gerry

 

[FloridaPilot]

Beautiful Airplane, congrats!!

 

[OkieAviator]

I've never heard of such an arrangement before. Everything I read and was told about co-owning a plane is that everyone pays an hourly rate agreed to by all into a maintenance fund. That way, as long as people are flying it, there will always be money available to pay for both regular and unscheduled maintenance. There will be no surprises or ill-timed bills to pay. Also, whoever is flying more hours is contributing more to the fund, which to me seems fair.


Gerry

I know of two other partnerships set up in a similar manner. So they're out there it's just not a common thing to see on the internet. Partnerships and Clubs advertised typically are non-equity owning, or equity owning but split into 10-15 shares per plane. They operate more as a discounted rental group or a for profit business. Things you can benefit from with owning your own plane is hedging fuel costs, not worrying about a Hobbs meter and paying what it actually costs to own... while you own it.

The main issue with MX holdbacks is you may or may not use all that while you own your share. On top of that someone has to track and account for that. We toyed with that idea with adding these two other pilots but in the end no one wants to track that. When someone sells their share there will be a one time assessment for engine overhaul. That's alot easier than tracking it monthly, quarterly, yearly... and then paying MX costs out of some account that you're transferring money around and having to deal with it.

As most people will tell you though it still comes down to the group of people. If someone is worried about people flying more than them, and having to split the costs of an oil change equally... well they wouldn't make good partners for our group. Like wise if someone has to finance the plane or have an issue getting hit up for a $500 MX charge they wouldn't work either... in our agreement we specifically state no loans against the plane and any MX up to $2000 ($500 each) can be completed without prior approval.

 

[James331]

No! The former co-owner, whose 50% share I bought, will pay us $10,000 to be applied to the overhaul. In exchange, he's been credited with 80 hours of flying time to be used by 12/31/2020. That's a rate of $125 an hour dry.

My co-owner and I will continue at the rate they had been prior to my coming into it. We pay $50 per hour for flights 2 hours or less, and $35 per hour for flights longer than 2 hours.





There are a few 182RGs around Southern California that rent for $160-165 wet. I know of an older Cherokee Six that the FBO will rent at a discount for a group I'm in; that discounted rate is $225/hour wet. I don't know about other complex singles in Southern Calif.

But consider too that this guy co-owned this airplane for 15-1/2 years, took really good care of it, and cares about its future. He's paying for the privilege of flying an airplane he knows and loves. Also, as I mentioned in an earlier reply, HE'S the one who came up with the proposal to either pay us $1500 every six months and fly it off at $150/hr dry, or $10,000 towards the engine to be flown off at $125/hr dry.


Gerry

Ahh, ok, that makes more sense

 

[wsuffa]

Glad to see that no posters are talking about parts. Commander parts are easier to get then Cessna or Piper parts and at half the price.

Folks who have never flown a Commander, or owned one, will tell you that parts are not available. This is not true.

I have owned two 112 Hotshots and they are fantastic airplanes. Today I flew from NW Mo. to South Georgia, from the Commander Owners Fly In. Just a pleasure to fly.

Life is a barrel of fun.

Ken Andrew
N1182J

Yep. That's been the concern of a couple of prospects to buy my 112TC. But in the end, I've been able to deal with parts issues without any real problem. Even the engine parts. And concerns from some folks about the TC engine, which in my experience really hasn't been an issue and allows some flight options I wouldn't otherwise have. The plane is still for sale.....

My 112TC usually runs between 11.5 and 12.7 GPH in cruise depending on altitude, load, and power setting. The book specifies no leaning above 75% power, that's where consumption really goes up. I run at about 65%, maybe a little less, depending on circumstances.