F15AvionicsTech

Hey folks -

A fellow in my unit is involved in a 4 person co-ownership of a small Cessna 152. He pays $225 every three months and has access to the plane for his private pilots lessons, which end up costing him around $60 an hour (Including gas and instructor's fees).

This amazed me, as I'm currently paying around $160 an hour ($119 Aircraft/$40 instructor). As I have a steady, well paying job - I'm looking to co-buy a light cessna.

My question is, this is the only decent Aviation forum that I've found, is there a website someone can point me to that lists people trying to set up this kind of deal, or at least give me some advice as to where to look/how to set everything up?

I'm planning on asking my instructor on monday, but I don't know too many people in the local flying community.

Thanks a ton!

contrails

I would just ask people at the airport you fly out of if there are any flying clubs on the field. There probably are.

They will probably require you to do a checkout flight or two or a certain number of hours to checkout, or might require a certain total time.

Check bulletin boards, too.

Pilotpip

If you're an F-15 tech in the airforce try the base flight club. I know a number of AF bases have them and the rates are usually lower than "retail". If not, look around for a flying club or check the bulletin boards in a flight school, the airport restaurant, FBOs, or the local EAA chapter.

TheProfessionalPilot

Depending on if your instructor is "vested" to the company, he may not be of much help in purchasing your own aircraft. Why? Simple: less income for the flight school. Also be sure to ask if there is a different rate for CFI if it is in "your aircraft". Many flight schools will not even allow an instructor to teach in someone else's aircraft. They say it is liabilities, but that is not true. Those that do allow such instruction often charge a higher rate. So be sure to inquire!

To purchase your own aircraft fractionally, do as contrails said. That's what I did and now I have a sweet (gas guzzling) Aztec for only 20k out of my pocket for a 115k aircraft. And I get to haul stuff at 175kts too!!! Just remember to check out if you will ACTUALLY be able to afford flying the thing once you purchase it - will the monthly payment kill your gas fund? I didn't think it would for me - but then I got a very expensive annual and now I do not have any gas $$$. I'm working on that part! Go to your flight school and talk with the nicer people there and be sure to raise the question "are you interested in purchasing an aircraft???" and if they say "yes" then that is your time to pop the money saving question! Get him/her and others together in a group meeting and get a group decision on an aircraft to purchase (DONT get a 152.. you will outgrow it ASA you finish your private! 172 or higher or comparable Piper). Then get a group decision on how much each is willing to comfortably pay. Now you have a budget and a game plan! Good luck and let me know if you have any questions about it... I went through this experience less than 12 months ago.

Best,
Jason Leonard

dhc8fo

AOPA has a classifieds section for partnerships. There are quite a few on there for the type of plane you are looking for. You may have to be a memeber though to access the board, not too sure since I am a member. Good luck.

HSLD

I made a dynamic spreadsheet for a boat partnership in Flash which accounts for things like acquisition, insurance, storage, fuel costs, fuel burn, maint. hold backs, hourly operating costs, number of partners, etc.

The spreadsheet can be downloaded here:

Just unzip it and it should play just fine. It's a pretty big file (1.5mb) as Flash goes because it has the player projector included so having the flash plug-in is not required.

Please take a look at it and let me know how I can tweak it for aircraft ownership - I'd be happy to do that!

Cheers -

dhc8fo

I am glad there are talented people like you who can make this stuff for the dummies like me....

Here are some suggestions:

1. Need to up the purchase price slide scale.
2. Need to increase the number of years financed. MBNA has up to 25 years now.
3. Need to way up the insurance premium scale. I have been shopping 1 million dollar king air and am getting 25-28K. I know there are others much higher (unless you are thinking small and singles only). Also, the scale should go to zero because believe it or not, some people who owe nothing chose not to insure it....
4. Need to increase the price of fuel scale (unfortunately).
5. Need to increase the number of partners.
6. Of course, for twin engines you will need to account for two fuel burns and will need to increase that scale as well.
7. Increase operating hours per month scale.
8. Increase maintenance reserve scale.
9. Might like to add something for prop reserve (an hourly value).
10. Might like to add something for engine overhaul reserve (an hourly value).
11. Might like to add something for training expenses.
12. Change monthly storage to hangar rent and increase the scale.
13. If you are a wild and crazy kind of guy, you could have something in there to compare how various hours on the engine and TBO changes the values (ie: an engine has a 3,600 TBO and it is at 1,000 SMOH (since major overhaul) with it flying X amount of hours a year and the overhaul costing X amount per engine, the hourly cost to account for the 1,000 equals....). I have been doing this for various aircraft over the past few months and it stinks! (but I am a block)

Can't wait to see if you ever do anything with this. Let me know!