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16 Dec 2017, 07:01 [ UTC - 5; DST ]


Greenwich AeroGroup



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 Post subject: FS: Lazarus update
PostPosted: 18 May 2017, 11:28 
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Joined: 01/18/11
Posts: 4658
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Location: Lake Marion, SC KOGB
Aircraft: B60 Duke
My N65MY is under contract. For board info the price is 190,000. Everything is mid time, but very well equipped.
As for Laz, I have quit night and hard IFR , getting old. We sold the 49 bonanza, for 30k about what we have spent the last three years on maintenance. Hate to see it go, basically I restored it twice. I gave it to my son when he graduated college 20 yrs ago. Son is an airline pilot, army pilot and in his spare time he has a hot rod Pitts.
I will be doing day VFR in his travelair.
I had a call from a local guy who wants to buy a share of Laz, this got me thinking.
He is a non pilot so would need a trained pro, we have a couple our company uses.
So the deal I am thinking is I will sell 3 shares in Laz for 50 k each. I will upgrade the 530 to an Avidyne 540 , I am putting one in the travelair as well. Additionally I will put in adas-b in and out.
I would very rarely use the plane myself but keep a share. I will put 50k of the proceeds in reserve for the unexpected, which is always expected. We will put 300bucks / hr for normal expenses/hangarage insurance and annuals into the hopper. You buy you own gas oil and pilot.
So I am looking for two more 50k owners in mid South Carolina , columbia, charleston ,
Aygusta Georgia area. You a good chance to fly a Duke with a solid financial cushion.


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 Post subject: Re: FS: Lazarus update
PostPosted: 18 May 2017, 11:42 
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Joined: 09/04/10
Posts: 2524
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Aircraft: BE20, C525A
Wow Rocky! That sounds like an awesome deal. Have you thought about how you might cover the fixed expenses if laz doesn't fly enough? One way is to divide the fixed (hangar, insurance, subscriptions and maybe the base annual (what you'd pay for the inspection if nothing was broken)) by 4 and have the partners pay that in each year. This would reduce the hourly cost and protect the partnership. Another way to accomplish this is require a minimum number of hours to be paid for each year. If Laz doesn't fly enough everybody kicks in to get to X hours.

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John Lockhart
Ridgway, CO


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 Post subject: Re: FS: Lazarus update
PostPosted: 18 May 2017, 12:42 
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Joined: 01/18/11
Posts: 4658
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Location: Lake Marion, SC KOGB
Aircraft: B60 Duke
Username Protected wrote:
Wow Rocky! That sounds like an awesome deal. Have you thought about how you might cover the fixed expenses if laz doesn't fly enough? One way is to divide the fixed (hangar, insurance, subscriptions and maybe the base annual (what you'd pay for the inspection if nothing was broken)) by 4 and have the partners pay that in each year. This would reduce the hourly cost and protect the partnership. Another way to accomplish this is require a minimum number of hours to be paid for each year. If Laz doesn't fly enough everybody kicks in to get to X hours.

Makes sense. Once we get pArtner commitments, we can thrash details. I have a nice hangar adjoining the avionics and mantainance facility only 200 a month. Insurance should be 4500 or less. We will train one pilot. I will probably copilot some on business trips for free just to stay in the loop.
Laz, just had a very thorough annual, all is well. Waiting for an exhaust pipe for sign off.


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 Post subject: Re: FS: Lazarus update
PostPosted: 18 May 2017, 17:12 
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Joined: 10/30/15
Posts: 181
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Location: LFBR
Aircraft: 73 Turbo Aztec
That sounds great. Every time I see a plane lingering around for months I'm thinking that creating a large, dynamic flight club could be the solution. Members purchase shares and the risk is spread across all members/all aircraft in the pool. Checkouts would be streamlined too, as would be maintenance, etc ..

Here in KSQL there are a couple of Bonanzas that I've never seen moving. I reached out to some of the owners two years ago asking whether they would sell a share and those who replied replied negatively (but offered rides and advice). Maybe with a trustworthy structure overseeing dispatch/maintenance/training/checkout, these owners would see that path as an acceptable way out (or way to keep their planes flying)?

The key barrier to entry for folks around me isn't really money, it is the fear of the unknown.


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 Post subject: Re: FS: Lazarus update
PostPosted: 21 May 2017, 12:27 
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Joined: 03/21/12
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Aircraft: B60 Duke
For those in the SE thinking about a Duke...... this is a great idea. Wish I lived closer..... woulda done this and kept the Baron for shorter trips. Somebody oughta try this out... flying the Dukes on trips is a great way to get there! Good luck Rocky!


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 Post subject: Re: FS: Lazarus update
PostPosted: 22 May 2017, 13:26 
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Joined: 04/16/10
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Location: Wisconsin
Aircraft: CJ525, Husky Amphib
Good Idea Rocky. I also like the flying club concept. That's one of the big issues with the GA fleet. No place to rent more complex equipment. A flying club with a pressurized twin could be appealing to some people.


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 Post subject: Re: FS: Lazarus update
PostPosted: 15 Nov 2017, 20:21 
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Joined: 07/04/11
Posts: 1197
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Company: W. John Gadd, Esq.
Location: Florida
Aircraft: C55 Baron
Username Protected wrote:
For those in the SE thinking about a Duke...... this is a great idea. Wish I lived closer..... woulda done this and kept the Baron for shorter trips. Somebody oughta try this out... flying the Dukes on trips is a great way to get there! Good luck Rocky!


Did Laz finally get sold? It is one crazy sexy Duke.


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