stevenhmiller
Pre-takeoff checklist
I'm forming a co-ownership on my 1980 Piper Dakota. I own the plane outright and it's hangared at KPOU. I am looking to have a total of 3-4 people (including myself). If you are in the Poughkeepsie, NY area and are looking to get into a co-ownership, shoot me a PM with your qualifications. Must have at least 150 hours, and an HP rating. Also must be financially secure. Living paycheck-to-paycheck won't cut it. If you are an A&P IA, you will go right to the front of the line.
I purchased the plane in October 2017 and have only flown it 7 hours since bringing it home to New York. That is why I am looking to do this. The plane needs to be flown.
Right now, I'm the sole owner of the plane with no liens. There are no other's in this with me yet. So, I'm seeking 2-3 more people to co-own it. I am valuing the plane at what I bought it for, $105k. This is how the split will work.
Assuming 3 people in co-ownership.
1st person in pays 50% ($52,500) to me.
2nd person in pays 33.3% ($35,000) to be split between 1st person and me.
Once 2nd person has paid, we each have $35,000 invested in the plane and are all equal co-owners.
If we go to a 4-person, then the 3rd person pays 25% ($26,250) to be split between 1st person, 2nd person and me. Now, we all own 25% and are equal owners.
A fund will be created to take care of fixed expenses (hangar, insurance, annual, etc) with a little extra for variable expenses (oil changes, etc.). A per hour rate will be determined that will go into the account toward engine rebuild when needed.
This has not been created yet, so nothing is set in stone yet.
PM if you are in the area and are interested. I can email details, so send me your email address as well.
PDF with specs is included on this post as an attachment.
Here is a link to pictures of the plane. http://s47.photobucket.com/user/stevenhmiller/library/1980 Piper Dakota?sort=2&page=1
I purchased the plane in October 2017 and have only flown it 7 hours since bringing it home to New York. That is why I am looking to do this. The plane needs to be flown.
Right now, I'm the sole owner of the plane with no liens. There are no other's in this with me yet. So, I'm seeking 2-3 more people to co-own it. I am valuing the plane at what I bought it for, $105k. This is how the split will work.
Assuming 3 people in co-ownership.
1st person in pays 50% ($52,500) to me.
2nd person in pays 33.3% ($35,000) to be split between 1st person and me.
Once 2nd person has paid, we each have $35,000 invested in the plane and are all equal co-owners.
If we go to a 4-person, then the 3rd person pays 25% ($26,250) to be split between 1st person, 2nd person and me. Now, we all own 25% and are equal owners.
A fund will be created to take care of fixed expenses (hangar, insurance, annual, etc) with a little extra for variable expenses (oil changes, etc.). A per hour rate will be determined that will go into the account toward engine rebuild when needed.
This has not been created yet, so nothing is set in stone yet.
PM if you are in the area and are interested. I can email details, so send me your email address as well.
PDF with specs is included on this post as an attachment.
Here is a link to pictures of the plane. http://s47.photobucket.com/user/stevenhmiller/library/1980 Piper Dakota?sort=2&page=1
