Finding a partnership

[Greg]

I am really interested in finding a partnership to buy into.
interested in a time building plane that can also be used for flying
with friends and family (ie can't be a 150/152) Any advice on the
following:

1. how does one go about locating an existing partnership

2. in the absence of existing partnerships, how does one recruit
others to go in on a plane

3. any advice on buying the plane outright and selling part interest
in it to others

any and all discussion is much appreciated.

regards,
gf

[Jim]

Good luck. I've been patiently looking and waiting. My best prospects for
a parter is one or two students that are working on their instrument ratings
and are serious about finding something nice after they finish. Be careful
of people that would rather talk about it than get serious and actually do
it.
--
Jim Burns III

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"Greg" > wrote in message
om...
> I am really interested in finding a partnership to buy into.
> interested in a time building plane that can also be used for flying
> with friends and family (ie can't be a 150/152) Any advice on the
> following:
>
> 1. how does one go about locating an existing partnership
>
> 2. in the absence of existing partnerships, how does one recruit
> others to go in on a plane
>
> 3. any advice on buying the plane outright and selling part interest
> in it to others
>
> any and all discussion is much appreciated.
>
> regards,
> gf

[Andrew Gideon]

Jim wrote:

> Good luck. I've been patiently looking and waiting.

Why is this a problem? A friend with a 182 was looking for a third person
for the partnership. He took a while, but because he was picky and not
because there weren't possibilities.

But perhaps location makes a difference. This was in Northern NJ.

And perhaps for "more airplane" the wait is longer?

- Andrew

[Dave Butler]

Greg wrote:
> I am really interested in finding a partnership to buy into.
> interested in a time building plane that can also be used for flying
> with friends and family (ie can't be a 150/152) Any advice on the
> following:
>
> 1. how does one go about locating an existing partnership
>
> 2. in the absence of existing partnerships, how does one recruit
> others to go in on a plane
>
> 3. any advice on buying the plane outright and selling part interest
> in it to others

Good plan, but it's not easy in practice. I was lucky and had a good partner to
start out with, and he had some previous experience with ownership.

Put up notices in all the nearby FBOs' corkboards. Put an ad in the 'airplanes'
section of your local newspaper classifieds.

It's probably easiest to find an existing partnership with one partner who wants
to sell, next easiest is to buy the plane first, then find a partner, hardest is
to form a partnership to buy a plane.

There are good an bad partnerships, I've been in both kinds. Hardest thing is
assessing whether your goals and your partner(s) goals are compatible.
Everything is a compromise. No partnership is perfect.

Get the information on forming a partnership from AOPA.

[Jim]

Rural community.
Small population of pilots.
Only one other partnership on the airport.

Things have been really slow here in central WI.
Biggest job source is (was) the paper mills which are shutting down one
after another.

And I think you're right, a longer wait for larger or faster equipment.
--
Jim Burns III

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"Andrew Gideon" > wrote in message
online.com...
> Jim wrote:
>
> > Good luck. I've been patiently looking and waiting.
>
> Why is this a problem? A friend with a 182 was looking for a third person
> for the partnership. He took a while, but because he was picky and not
> because there weren't possibilities.
>
> But perhaps location makes a difference. This was in Northern NJ.
>
> And perhaps for "more airplane" the wait is longer?
>
> - Andrew
>

[Ed Haywood]

>
> 1. how does one go about locating an existing partnership

Only way to do this is ask around at all airfields that are close enough for
you, and post flyers in FBOs and clubs. You can also search on the
internet, but I didn't have much luck that way. Oh, and join the local EAA
chapter.

> 2. in the absence of existing partnerships, how does one recruit
> others to go in on a plane

See answer to #1.

Also, don't discount another situation: you find a sole owner who wants to
sell you a share in his aircraft. Often there will be guys who own a plane
and don't use it as much as they thought they would. When they hear you are
looking, they get to thinking about it, and realize a partnership could be a
good deal for them. That's how I found a partnership.

> 3. any advice on buying the plane outright and selling part interest
> in it to others

I'd avoid this, for 3 reasons. First, you've got no guarantee that you'll
find a partner after you buy. Don't do it unless you're fully prepared to
be a sole owner long term. Second, arriving on an agreed-upon value might
be difficult. The prospective partners aren't going to care what you paid,
only what they think it's worth. You might wind up eating a loss. Third,
if you comply fully with sales and use taxes, you might get hit twice; once
when you buy, and again when you take on partners.

[[email protected]]

On 7-Nov-2003, (Greg) wrote:

> Any advice on the following:
>
> 1. how does one go about locating an existing partnership
>
> 2. in the absence of existing partnerships, how does one recruit
> others to go in on a plane


It occurs to me that there are literally hundreds, if not thousands, of web
sites aimed at helping people find a spouse or other love interest through
"personal" ads. Why can't a similar approach be used for finding compatible
partners for airplane ownership?
--
-Elliott Drucker

[Jim]

aso.com has a note on their site that they will soon be offering a
partnership listing service

--
Jim Burns III

Remove "nospam" to reply

> wrote in message
...
>
> On 7-Nov-2003, (Greg) wrote:
>
> > Any advice on the following:
> >
> > 1. how does one go about locating an existing partnership
> >
> > 2. in the absence of existing partnerships, how does one recruit
> > others to go in on a plane
>
>
> It occurs to me that there are literally hundreds, if not thousands, of
web
> sites aimed at helping people find a spouse or other love interest through
> "personal" ads. Why can't a similar approach be used for finding
compatible
> partners for airplane ownership?
> --
> -Elliott Drucker

[Greg]

AOPA on-line classifieds has partnership sections
Greg
> wrote in message
...
>
> On 7-Nov-2003, (Greg) wrote:
>
> > Any advice on the following:
> >
> > 1. how does one go about locating an existing partnership
> >
> > 2. in the absence of existing partnerships, how does one recruit
> > others to go in on a plane
>
>
> It occurs to me that there are literally hundreds, if not thousands, of
web
> sites aimed at helping people find a spouse or other love interest through
> "personal" ads. Why can't a similar approach be used for finding
compatible
> partners for airplane ownership?
> --
> -Elliott Drucker

[Steve Foley]

Walk around the airport where you want to find a partnership. Write down the
tail numbers of all the planes on the field, look up the owner at
landings.com, write him/her/them a letter asking if they, or someone they
know, are interested in selling a share of a plane.

"Greg" > wrote in message
om...

> 1. how does one go about locating an existing partnership

[[email protected]]

Steve Foley > wrote:
: Walk around the airport where you want to find a partnership. Write down the
: tail numbers of all the planes on the field, look up the owner at
: landings.com, write him/her/them a letter asking if they, or someone they
: know, are interested in selling a share of a plane.

This sounds like a good idea to me. This will allow you to be a
"power airport bumb"... much more time-efficient than trying to hang
around the airport and chat with people. Word of mouth would be your best
bet, and this is a good way to get it.

As stated many time before, though... the most important thing
about a partnership is partner chemistry. If you've got compatible goals
and ideas about how it should work and what it'll be used for, everything
else falls into place.

-Cory


--
************************************************** ***********************
* The prime directive of Linux: *
* - learn what you don't know, *
* - teach what you do. *
* (Just my 20 USm$) *
************************************************** ***********************

[Ed Haywood]

There are a couple of sites already, but none of them have reached that
"critical mass" where there are enough listings to make them a reliable
means of linking up with a partner.


>
>
> It occurs to me that there are literally hundreds, if not thousands, of
web
> sites aimed at helping people find a spouse or other love interest through
> "personal" ads. Why can't a similar approach be used for finding
compatible
> partners for airplane ownership?
> --
> -Elliott Drucker
>