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Old 01-09-2014, 11:59 PM   #23
gts1544
Veteran Member
 
City: Cheyenne, WY
Vessel Name: Wanderlust
Vessel Model: Gulfstar 36 Trawler
Join Date: Sep 2013
Posts: 44
CPseudonym, The following was for a high performance single engine airplane, I required a $3000 initial deposit to be retained by me while you were a member of the group, repaid within 30 days of your leaving the group. I charged $1 for a share of stock, the stock required to be resold to me for $1 when you left the group. I charged $200 monthly (prepaid quarterly), each month including 1 hour of flying time dry, to be forfeit at the end of the quarter, if unused. All additional flying time was at $50 per hour dry. This arrangement was fully disclosed to the insurance company and they had no problem with it. It also covered 100% of my Ownership Costs of hangar / insurance / required inspections. The $50 per flight hour charge covered the Operating Costs, thus the Ownership Costs were shared equally by my users, while the Operating Costs were paid proportionately by my users. I bore the Capital Cost. The numbers can obviously be adjusted for any situation. Again, I would be happy to discuss this further on an individual basis should there be any interest. George
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