Hi Guys
I am new to this forum and currently doing solos and waiting to give my RAA Pilot Certificate exam. Very soon I am looking into buying my own Jabiru J430 / J400. Given that I would like to fly a couple of hours every week or every other week, I can not bring myself to justify the cost of owning an aircraft and maintaining it for purely recreational purpose, with so little expected flying. Hence I am looking to form a syndicate in the Wollongong - Wedderburn area.
It goes like this -
(1) We have a share each with minimum 2 and maximum 3 share holders
(2) Each of us puts down say approx. $15,000 for a second hand Jabiru 430 costing about $45,000
(3) For each hour of flying logged into the logbook we put down about $30 - $50 per hour towards hull insurance, general maintenance and engine overhaul etc.
(4) Once you have finished using the aircraft and put it back into the hanagar, make sure you top up the fuel to full tank for the next person
(5) We take turns flying the aircraft so that everyone gets a fair go
(6) You can sell the share in it as and when you like, but first preference goes to the syndicate members
(7) On sale of your share you get back your 1/3 share of whatever little bit surplus is left in the kitty, after deducting any depreciation and outstanding costs
Any suggestions from anyone are most welcome :-)