A aviation & planes forum. AviationBanter

If this is your first visit, be sure to check out the FAQ by clicking the link above. You may have to register before you can post: click the register link above to proceed. To start viewing messages, select the forum that you want to visit from the selection below.

Go Back   Home » AviationBanter forum » rec.aviation newsgroups » General Aviation
Site Map Home Register Authors List Search Today's Posts Mark Forums Read Web Partners

Cessna 210 - LEGAL or ?



 
 
Thread Tools Display Modes
Prev Previous Post   Next Post Next
  #1  
Old March 16th 09, 09:16 PM
tatermunk tatermunk is offline
Junior Member
 
First recorded activity by AviationBanter: Mar 2009
Posts: 5
Default Cessna 210 - LEGAL or ?

I have a question about some of the legalities of what I am in the process of doing. If anyone can point me in the right direction I welcome and appreciate all opinions and advice.

I am in the process of purchasing a Cessna 210. I have 3 signed 1 year lease agreements with pilots in my area. I have a $1200 deposit from each pilot and when I reach 6 pilots I will purchase the aircraft. They agree to $600 per month for a year for 10hrs per month. Any hours flown over the 10hr allowance will be an additional $60 per hr. Insurance, Maintenance, Hanger, etc. are all included.

For me, that covers the cost of the plane, hanger, insurance, and a hefty maintenance reserve. However, I will/can still make a profit depending on how I structure the maintenance reserve.

Is there any problem with the way I am structuring this? And other than paying taxes and making sure my insurance is covered correctly... Is there any problems with making a profit from this?

Thanks to anyone who can help.
 




Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

vB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Forum Jump

Similar Threads
Thread Thread Starter Forum Replies Last Post
Is this even legal?? Darkwing Piloting 46 December 21st 07 02:09 AM
Is your IFR GPS still legal for use? john smith[_2_] Piloting 36 May 29th 07 09:23 PM
Legal or not? Jim Macklin Instrument Flight Rules 42 October 5th 06 12:02 AM
non TSO AI for co-pilot legal? Dico Owning 29 July 22nd 06 09:04 PM
Decent below MDA, Legal? Roy Smith Instrument Flight Rules 59 October 4th 03 10:04 AM


All times are GMT +1. The time now is 09:04 AM.


Powered by vBulletin® Version 3.6.4
Copyright ©2000 - 2024, Jelsoft Enterprises Ltd.
Copyright ©2004-2024 AviationBanter.
The comments are property of their posters.