New guy intro

[Bob - S50]

Bob,

 

You got that right. I went thru LAFB in '02, class 03-04. The town is much better than it was just 10yrs ago, but I wouldn't call it the garden spot of the US.

 

Regarding costs, I'm discussing a limited partnership with another IP here. It should work out nicely for both of us. Now to find a plane and take the dive...

 

We formed an LLC for two reasons:

 

1.  It limited our personal liability.  If one of us did something stupid, the damaged party could only go after the individual flying the plane at the time (if negligent) and the LLC.  They would not be able to come after the other 3 of us.

 

2.  We live in Washington state.  They have a 'use' tax which is essentially a sales tax except you have to pay it every time you buy a plane in the state of WA even if you've paid it before.  By having the LLC own the plane we aren't selling a share of a plane, we are selling a share of the LLC which is not a tangible assest so it isn't taxed.  Makes it easier to sell a share in the future if we need to.

 

Bob

[Raygun15E]

The LLC sounds like a decent option. I need to look into it and see what the particulars are. I know TX doesn't have a personal property tax, but some states I could be based in do, and it would be nice to mitigate the expense.

 

I have a couple weeks, so getting the CD from the FAA is doable for me. In fact, I need to order it this week. Along with calling KDRT and finding out what hangar space is or isn't available.

[teethdoc]

I passed a T-38 on the taxiway one day. There was a pair flying back to MS out of my home base KBHM. I was in line behind them to take off and enjoyed watching the first one take off. About 30 sec later they called in that they had no operational fuel gauge. The second in line decided not to take off and the first returned to the pattern. I heard over the radio, mooney, please pass the T-38 and

One up and wait runway 6. I retorted this may be my only chance to pass a T-38 . I waved as I passed them and thanked them for their service.

[scottfromiowa]

Good questions,

 

1) Mission: Cross Country flying with IFR capability. Not likely to make the long trip home to NY often, but 500-650nm hops would probably make up at least 1/2 my personal flying.

 

2) Budget: Best for the least. Right now Looking in the $50-$65K range. Basically a decent F or older J. I need the leg room!

If that is your budget you should not rule out an E Model. If you are flying three leg room will NOT be a problem. You get the fuel injected 200HP engine and the entry price with avionics is in that range more so than an F. Door/entry and room is the same up front. Rear seat and baggage are where the space is lost.