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Tampa / Clearwater FL : Looking for partners on my 1974 Piper Archer

Saintroad

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Anyone in the Clearwater/Tampa interested in partial ownership on a clean IFR 1974 Piper Archer with 3350 TT and 1800SMOH --- Really clean plane, 7+ inside and out. Will be based at CLW until I finish my training and then it is open for discussion. Very reasonable buy-in rates - want to keep the plane flying regularly but don't want it really on a lease-back with flight school, but have a contract for this if cannot find good partners. Rather have a couple respectful, responsible professional partners looking for a great plane to build hours and enjoy flying!

Will be ferrying plane down in Oct.

Contact me if interested.
Andy
 

Unit74

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I'd think it would be hard to get someone to buy into a run out engine unless the price was stellar.

Have you considered a dry lease agreement? I think that's more viable than a partner buying in.
 

Unit74

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A run out engine is one at TBO. Sure, it may go well beyond, but the airframe value for the engine goes to zero. Or, in other words, value of the plan if it were a 0 smoh engine minus the actual cost for a 0 smoh engine.

Dry lease is just that. A set hourly fee dry. Gas is not included. Always Park the plane full after use, charged per 1/10 of an hour Hobbes for max return, which is standard or tach, which would be more of a partnership arrangement.
 

Saintroad

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A run out engine is one at TBO. Sure, it may go well beyond, but the airframe value for the engine goes to zero. Or, in other words, value of the plan if it were a 0 smoh engine minus the actual cost for a 0 smoh engine.

Dry lease is just that. A set hourly fee dry. Gas is not included. Always Park the plane full after use, charged per 1/10 of an hour Hobbes for max return, which is standard or tach, which would be more of a partnership arrangement.
Thanks for the info. Ok, so the Archer price should be about what at TBO? $25K? Factoring if the engine will cost me $20K to overhaul. Vref is putting it in the low 30s. What is your opinion?

Dry-lease sounds like a litigation/liability nightmare.
 

EchoDelta

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I don't think that a high time engine is necessarily a show-stopper with respect to finding folks interested in a partnership. I presume that you now own the plane outright and have had a bit of operational history (e.g. primary training). Therefore, the plane is, at least to you, somewhat of a known quantity. That should be comforting to anyone considering joining you as a co-owner, since if you thought the plane was a dog you would probably want to just get rid of it.

However, you have to be realistic about what you want for 1/2 or 2/3 of the plane. A realistic buyer will recognize that, with the engine at 1800 hrs SMOH, his/her actual investment cost is likely to almost double within the next couple of years.
 

rrc1962

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My insurance agent said the best way to go is to form a flying club (LLC), put the plane in the LLC and charge annual dues to join the flying club. Members then pay an hourly dry rate for the plane.

I've done the partner thing before and knew I didn't want to do that again. The club cave me ultimate control over the plane but also generated income. In the end, I decided not to do it just because I didn't want other people flying my plane. Still thinking about doing it and buying a few planes just for club use. We're looking at the potential demand to see if the club could at least sustain itself.
 

Saintroad

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My insurance agent said the best way to go is to form a flying club (LLC), put the plane in the LLC and charge annual dues to join the flying club. Members then pay an hourly dry rate for the plane.

I've done the partner thing before and knew I didn't want to do that again. The club cave me ultimate control over the plane but also generated income. In the end, I decided not to do it just because I didn't want other people flying my plane. Still thinking about doing it and buying a few planes just for club use. We're looking at the potential demand to see if the club could at least sustain itself.
Really smart. Decided against the high hour Archer. Just not worth the risk at this juncture. Will be looking at a well optioned 160/180 Cherokee that is IFR ready and mid hour engine. Love your experience and insight with the flying club. I would consider putting my plane into the mix if we can generate the interest. Keep.in touch... btw, you know of any local (or relatively local) hangar space?
 

sierrakilo99

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Are you looking for hangar space in the Tampa / Clearwater area? Not cheap around those parts... Vandenburg (Tampa Executive, KVDF) is about the least expensive in the Tampa area. Clearwater airpark and St Pete International, not so much.

BTW, I know a guy (who knows a guy... LOL) that may be interested in a Cherokee club/partnership in the Tampa area.

sk
 

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