jlknolla
Well-Known Member
So a friend surprised me this weekend by casually suggesting he might be open to some kind of arrangement whereby I would have access to his Glasair I RG when he is out of the country (~ 6 mo's a year). His major concern is exposure of his assets (all owned in a revocable living trust). Says he had not previously entertained the thought of a partner or anyone else flying his Glasair but we have really hit it off and he was impressed by how well I flew the plane when we went out a few weeks ago.
He basically asked me to consider what I might be interested in doing, so I was honored he thought enough of my flying to be comfortable enough to suggest this. He will be back in-country around Thanksgiving so I have some time to research.
We are of a similar mind in terms of operations and safety, I hold COMM-ASEL-IFR priveleges, he holds a PPL, no instrument rating - the plane is day/night VFR equipped.
I am curious if some of you who may have entered into partnerships or other shared access arrangements would be willing to share your experience and suggestions. We can discuss further here in this thread or via PM, depends on your desire/preference.
Looking to see about different types of arrangements, common pitfalls to avoid, etc. I am not really looking for an ownership interest since I may take on a project build next year, so a limited partnership is my current thought, basically split hangar and insurance and establish a maintenance reserve I would pay into for every hour flown, something like that. I am looking at the resources on AOPA, but not sure what other options might be something I should consider.
Thanks in advance for any advice/experience anyone is willing to share.
He basically asked me to consider what I might be interested in doing, so I was honored he thought enough of my flying to be comfortable enough to suggest this. He will be back in-country around Thanksgiving so I have some time to research.
We are of a similar mind in terms of operations and safety, I hold COMM-ASEL-IFR priveleges, he holds a PPL, no instrument rating - the plane is day/night VFR equipped.
I am curious if some of you who may have entered into partnerships or other shared access arrangements would be willing to share your experience and suggestions. We can discuss further here in this thread or via PM, depends on your desire/preference.
Looking to see about different types of arrangements, common pitfalls to avoid, etc. I am not really looking for an ownership interest since I may take on a project build next year, so a limited partnership is my current thought, basically split hangar and insurance and establish a maintenance reserve I would pay into for every hour flown, something like that. I am looking at the resources on AOPA, but not sure what other options might be something I should consider.
Thanks in advance for any advice/experience anyone is willing to share.
