Seeking Adventurous M20R 50% Partner. Remote working and Seasonal Partnership Match

[Wingdude]

I have been inspired to write this post by Thierry at Air Journey and my son. 
 

**LMK if you or anyone you know may be interested in being a 50% partner:

 

I am about to buy a used GFC700 Mooney Ovation or Acclaim for between  $220k and $300K.

Preferred Options  - AC, GFC700, O2, WAAS, Monroy tanks.

 

I am looking for a 50% Partner (or possibly partnering with an existing owner)  who's usage compliments my own.
 

I will probably purchase the aircraft without a partner if I can not find a good match.

 

Why Partner? 
 

1. I do not need an aircraft in the Northern hemisphere about 6 months total of the year. Spend most winters skiing in Colorado (not much flying) .
   I travel a lot (work remotely in North America, Australia and Europe). 
    
2. A repositioning pilot or copilot buddy with an interest in the aircraft would be great
    

Best Partner

Experienced aviator who has previously owned aircraft:

1. 1000+ hours min
2. IFR
3. Good understanding of systems and maintenance issues
4. Usage compliments mine
5. Able to help with repositioning

Me
 

This will be my 7th aircraft. Have owned M20J, C310, AS350B3, C500, C550, C560. 

I have flown in about 20 countries and circumnavigated once in a C560.

FAA IFR CASA CPL CFI (exp)

 

The Partnership arrangement:
 

H1 - 5 mths .1 May to 30 Sept 

Partner 1 (myself) chooses where the aircraft is based. 

Aircraft will be based on East Coast - NYC area or Miami area, then Caribbean, Central America, Mexico, Canada, Europe, UK, Morocco, Canaries ... 

If I am not available, then I may request assistance repositioning. 

Partner 2 offered first option to help reposition and ferry at partner 1 discretion. Partner 1 may pay Partner 2 economy airfare to reposition (not accommodation) 

Partner 2 may request day trip 3 times, and one 1week trip provided aircraft returned to base 

 

 

H2 - 7 mths 1 October to 30 April 

Partner 2 chooses where based in USA. 

Partner 1 offered first option to reposition at partner 2 discretion 

Partner 1 may request day trip 4 times, and one 2  week trip, provided aircraft is returned to base. 

 

And

1. H Dates may change by mutual agreement with 180 days notice 
2. Std maintenance pool clauses with Quarterly payments in advance 
3. No finance 
4. Either partner can buy the others share with 365 days notice (or earlier by mutual agreement). 
5. Plan to sell aircraft in 2 years 

[alextstone]

7 minutes ago, Wingdude said:

I am about to buy a used GFC700 Mooney Ovation or Acclaim for between  $220k and $300K.

Preferred Options  - AC, GFC700, O2, WAAS, Monroy tanks.

Well now, that's an ambitious goal.  

[ESPN168]

I think it's best that you buy your own craft.  Your partner mind as well hand over the 50% of the money to you. This deal sounds like it was written by Trump. 

[Wingdude]

"Trump" Haha - I didn't vote for him. 

I know I am looking for an unusual partnership. 

 

Edited June 29, 2019 by Wingdude
Typo

[201er]

I'm in NYC. I can do a partnership where you buy the plane and then pay me to fly it for you when you're not around so that the engine doesn't rust out.

[chriscalandro]

So basically you want someone to pay half of your airplane so you can do whatever you want and your partner can either chauffeur you around or maybe get lucky and fly it a few times when it happens to be near where they are?

 

You don't want a partner, you want someone to give you money. But your own airplane. 

[M016576]

4 minutes ago, chriscalandro said:

So basically you want someone to pay half of your airplane so you can do whatever you want and your partner can either chauffeur you around or maybe get lucky and fly it a few times when it happens to be near where they are?

 

You don't want a partner, you want someone to give you money. But your own airplane. 

Looks to more like the OP wants 5 months of the year where he bases and flys the plane, and “partner” gets 7 months a year where they get to base and fly the plane.  That doesn’t seem like a horrible deal... but it would take a unique type of person to do that (someone that would be ok not flying the plane for half the year)

if it were me, rather than pay 110-150K for 7 months of ovation or acclaim usage, I’d just buy my own rocket or missile, get similar performance, and get to fly the plane year round.

Edited June 29, 2019 by M016576

[Wingdude]

Incorrect. 

Perhaps I wasn't clear. 

This is a partnership where I control the aircraft for 5 months of the year and the other partner controls it 7 months of the year. 

No interest in being flown around. 

Edited June 29, 2019 by Wingdude
Typo

[Wingdude]

2 minutes ago, M016576 said:

Looks to more like the OP wants 5 months of the year where he bases and flys the plane, and “partner” gets 7 months a year where they get to base and fly the plane.  That doesn’t seem like a horrible deal... but it would take a unique type of person to do that (someone that would be ok not flying the plane for half the year)

Yes exactly. Thanks 

[Wingdude]

If the partner wanted to fly the other 5 months then it would have to be from wherever the aircraft is based. 

I agree this is a challenging match and requires an individual with complimentary needs

[Wingdude]

7 hours ago, alextstone said:

Well now, that's an ambitious goal.  

I have found two without Monroy 

[smccray]

2 minutes ago, M016576 said:

Looks to more like the OP wants 5 months of the year where he bases and flys the plane, and “partner” gets 7 months a year where they get to base and fly the plane.  That doesn’t seem like a horrible deal... but it would take a unique type of person to do that (someone that would be ok not flying the plane for half the year)

Agreed. This is a very unique deal, but doesn’t seem as unbalanced as it may initially appear. I do think it’s going to be very challenging to find a partner, especially with the intent to base the plane internationally during half the year.

To the OP- I suspect the better strategy to limit carrying cost during the 7 months of the year would be to lease the plane at an attractive rate for that period. Perhaps it’s to pilots that are between planes, or a pilot that had an incident and their own plane is down for repairs.  I don’t know if that would work, but I suspect it would be far better strategy albeit not without the risk of failing to find a lessee.  Call Jimmy at All American and ask him- he would be a better source to asses the feasibility of my proposed strategy. 

[Wingdude]

1 minute ago, smccray said:

Agreed. This is a very unique deal, but doesn’t seem as unbalanced as it may initially appear. I do think it’s going to be very challenging to find a partner, especially with the intent to base the plane internationally during half the year.

To the OP- I suspect the better strategy to limit carrying cost during the 7 months of the year would be to lease the plane at an attractive rate for that period. Perhaps it’s to pilots that are between planes, or a pilot that had an incident and their own plane is down for repairs.  I don’t know if that would work, but I suspect it would be far better strategy albeit not without the risk of failing to find a lessee.  Call Jimmy at All American and ask him- he would be a better source to asses the feasibility of my proposed strategy. 

Really helpful suggestion. Thank you. 

I would be happy to base the aircraft at a reliable FBO for rental when I am not stateside. 

Open to suggestions re operators - all the operators I know on the east coast are more or less standardizing on Cirrus 

 

[201er]

7 minutes ago, Wingdude said:

Really helpful suggestion. Thank you. 

I would be happy to base the aircraft at a reliable FBO for rental when I am not stateside. 

Open to suggestions re operators - all the operators I know on the east coast are more or less standardizing on Cirrus 

 

I hear AirMods is looking for a rental Mooney after their last one took a splash...

[smccray]

5 minutes ago, Wingdude said:

Really helpful suggestion. Thank you. 

I would be happy to base the aircraft at a reliable FBO for rental when I am not stateside. 

Open to suggestions re operators - all the operators I know on the east coast are more or less standardizing on Cirrus 

 

In my mind that’s a recipe for disaster. Intermittent availability and you plane is sitting outside somewhere and likely not being flown. 

If you put the plane in Arizona at some airport for 7 months, you’re basically looking at a $3500 cost to let the plane sit. Land, change the oil, and have a local mechanic check on the plane periodically.  

If you did a partnership, call that $3500 in rent a cash contribution from your partner.  You probably split the annual inspection cost and some of the insurance cost- call that another $2500.  $6k isn’t worth the trouble to save on operations.  Look at the operational savings as a percentage of the total cost, including 100LL internationally.

$150k (half the purchase price) at 6% is $9k in interest cost. That’s not insignificant, but if it’s a stumbling block to buying an airplane in this scenario...let’s just be honest here- you’re not going to buy an airplane. 

[Wingdude]

3 hours ago, smccray said:

In my mind that’s a recipe for disaster. Intermittent availability and you plane is sitting outside somewhere and likely not being flown. 

If you put the plane in Arizona at some airport for 7 months, you’re basically looking at a $3500 cost to let the plane sit. Land, change the oil, and have a local mechanic check on the plane periodically.  

If you did a partnership, call that $3500 in rent a cash contribution from your partner.  You probably split the annual inspection cost and some of the insurance cost- call that another $2500.  $6k isn’t worth the trouble to save on operations.  Look at the operational savings as a percentage of the total cost, including 100LL internationally.

$150k (half the purchase price) at 6% is $9k in interest cost. That’s not insignificant, but if it’s a stumbling block to buying an airplane in this scenario...let’s just be honest here- you’re not going to buy an airplane. 

Hah - Thanks for the financial analysis. 

Your conclusion is wrong... 

 

My primary objective is to find a reliable person or organisation to look after the aircraft when I am not flying. A good partner would be great, else an organisation that flies and looks after it is good too.