I am in a two-way partnership with a '79 "J" model Mooney and I'll try
to answer your questions. First of all for me owning is more expensive
than renting. But we own a lot more capable aircraft than the 172's I
was renting. My mission was to be able to take trips for weeks on end if
I so chose. That would be impossible renting. I also wanted to get a
faster airplane then the 110kts Skyhawk. Not that Skyhawks are bad mind
you, just that going 150-160kts is a lot cooler... :-)

Your prices seem a little low to me but I don't know the airplane you
are talking about. We charge ourselves $75 wet going by the tach-time.
This includes engine and prop reserves, gas and $2000 for the annual
expenses.

But, to me a 2-way parnership is just like owning the plane myself
except that I get to split the costs in half. I would never fly enough
to justify full ownership unless I hit the lottery or something (note to
self - start playing the lottery).

We have discussed adding a 3rd and last partner but are in no hurry to
do so. We are looking for someone to fit in with us. If it happens then
cool otherwise this 2-way deal is working out nicely.

If you buy into an existing partnership you could have a pre-buy done.
Probably a good thing to do but you should be able to tell if the
existing guys take care of the plane or not.

Let me know if you have any questions. The Mooney is a great airplane
and yes I am prejudiced

Jon Kraus
'79 Mooney 201
4443H @ TYQ

Mark Hansen wrote:

I'm thinking about getting into an airplane partnership (or co-ownership)
and have a few questions.

When people say that you can't really save money with ownership over
renting, does that include partnerships as well? I would think that
with a 4-way partnership, the operating costs would be reduced to
a level such that it would be cheaper than renting.

One plane I'm looking at shows a monthly cost of around $50 with
an hourly rate of about $58/wet. This seems pretty good, but I'm
wondering what is missing. After all, how can $200/month cover
all the operating expenses (like hangar rental, insurance, annual
inspections, etc.)? ... I do have these questions in to the selling
partner and am currently waiting for a reply - FYI.

Before buying into an existing partnership would you still suggest
a full pre-purchase inspection? I would think at a minimum I would
want someone to go over the logs and make sure the partners are not
looking for a way to defray some of the costs of some looming expenditure.
Given that one of the existing partners is selling his share, this
doesn't seem like a realistic concern.

To do this right, I really should take a few months and read the
'how to buy' books, but then I felt this way before I bought my
first house, and that process turned out to be relatively easy.

Thanks for any opinions,

By the way, the airplane in question is a 1969 Mooney M20F Turbo.
Would any Mooney owners care to share some advice via e-mail?