I finally made it, too!

wrote:

My stats, for those who might be interested:

I guess that would be me ...

I averaged just over 3 lessons a month, despite all efforts to do two a
week. I endured lots of cancellations due to weather, or rarely,
aircraft or instructor availability.

"Instructor availability"? Are they that thin on the ground there?

figure includes my buy-in for a local flying club. I've not only got

Do you mean fractional ownership? (Yes, another stupid question from
the newbie...)

How does that work? If you have to pay your share of monthly expenses
(in addition to the buy-in fee), doesn't it wind up costing more than
renting if you don't fly that often?

Marc

Marc Adler wrote:
"Instructor availability"? Are they that thin on the ground there?

No, instructor or aircraft availability was very rarely a problem. Not
that many people in the club were flying the Skyhawk, and for most of
the time I was a student, I was the only student in the club--so it
wasn't too hard to book the instructor.

figure includes my buy-in for a local flying club. I've not only got

Do you mean fractional ownership? (Yes, another stupid question from
the newbie...)

How does that work? If you have to pay your share of monthly expenses
(in addition to the buy-in fee), doesn't it wind up costing more than
renting if you don't fly that often?

Good questions. I ran the numbers before I started, and figured that
the cost of joining the club would be recovered in my hourly rental
rates well before I finished training--even if I never got a dime of my
equity stake back out (and under most circumstances, the equity stake
is refundable when leaving the club). There are monthly dues ($60) to
cover other expenses like insurance and tie-down fees, but in what I'm
saving relative to renting at the local flight schools, I come out
ahead if I only fly 3 hours a month. And I plan to fly more than
that!

I actually posted an ad for the flying club here, about two weeks ago.
Look for the post with "Morristown, NJ" in the title.

Gary

On 11/06/06 19:47, wrote:
Marc Adler wrote:
"Instructor availability"? Are they that thin on the ground there?

No, instructor or aircraft availability was very rarely a problem. Not
that many people in the club were flying the Skyhawk, and for most of
the time I was a student, I was the only student in the club--so it
wasn't too hard to book the instructor.

figure includes my buy-in for a local flying club. I've not only got

Do you mean fractional ownership? (Yes, another stupid question from
the newbie...)

How does that work? If you have to pay your share of monthly expenses
(in addition to the buy-in fee), doesn't it wind up costing more than
renting if you don't fly that often?

Good questions. I ran the numbers before I started, and figured that
the cost of joining the club would be recovered in my hourly rental
rates well before I finished training--even if I never got a dime of my
equity stake back out (and under most circumstances, the equity stake
is refundable when leaving the club). There are monthly dues ($60) to
cover other expenses like insurance and tie-down fees, but in what I'm
saving relative to renting at the local flight schools, I come out
ahead if I only fly 3 hours a month. And I plan to fly more than
that!

Does your club include you as a "named insured" or whatever, on their
insurance policy? This was a big plus for me at the club I joined. It
basically means that I don't need to carry my own Renter's Insurance,
which will save me quite a bit (especially when considering the hull
coverage that I would have to have to fully protect me).

.... That's what 'knocked it out of the park' for me ;-)


I actually posted an ad for the flying club here, about two weeks ago.
Look for the post with "Morristown, NJ" in the title.

Gary




--
Mark Hansen, PP-ASEL, Instrument Airplane
Cal Aggie Flying Farmers
Sacramento, CA

Mark Hansen wrote:
Does your club include you as a "named insured" or whatever, on their
insurance policy? This was a big plus for me at the club I joined. It
basically means that I don't need to carry my own Renter's Insurance,
which will save me quite a bit (especially when considering the hull
coverage that I would have to have to fully protect me).

I'm not sure, to be honest. I've been assuming they don't, and that I
would have to get my own renters insurance if I ever rented an aircraft
(other than the club aircraft), but I've never bothered to find out for
sure.

On 11/08/06 11:48, wrote:
Mark Hansen wrote:
Does your club include you as a "named insured" or whatever, on their
insurance policy? This was a big plus for me at the club I joined. It
basically means that I don't need to carry my own Renter's Insurance,
which will save me quite a bit (especially when considering the hull
coverage that I would have to have to fully protect me).

I'm not sure, to be honest. I've been assuming they don't, and that I
would have to get my own renters insurance if I ever rented an aircraft
(other than the club aircraft), but I've never bothered to find out for
sure.


I'm not talking about renting other airplanes - I'm talking about using
your club airplanes. For example, if you're not a 'named insured', then
the club's insurance policy is meant to protect the club and not you. This
means the insurance company can come back to you to recover their losses.

This is usually what you get renter's insurance for.

Even if you're a named insured, you need to see if the club's policy is
adequate to protect you in the even of a large loss.

I would guess that if you had to 'buy into' the club, such that you are
part owner of all the club assets, then you are probably going to be
a named insured - but you should probably check to be sure.

Best Regards,

--
Mark Hansen, PP-ASEL, Instrument Airplane
Cal Aggie Flying Farmers
Sacramento, CA