976 price

[James Carlson]

Steve Gordon writes:
> Assuming it were only the seven of us, that would mean about $4,750 down,
> $105/month, and $65/hr.  I would not be interested in that deal.

Depending on the exact terms, I think I'd be willing to go as high as
$5000.

"Reasonable" terms in my estimation would be that we pretend as if the
amount down was financed, and members are paying a monthly "note" out
of that amount, and are entitled to a return of the amount unused when
leaving.

For example, if we assume a 180 month note-like behavior, you put down
$5000 and then leave six months later, you get back 5000 * 174/180, or
$4833.33.

This essentially mimics (in a simple way) what would happen if the
club financed this balance with a bank, but with zero interest: if we
borrowed it, members would pay principal plus interest each month, and
would get nothing back if they leave before the club is dissolved.

Options for subsequent members joining would include either prorating
the investment, or sticking with some fixed value that we can then use
as capital for either upgrades or new aircraft.

-- 
James Carlson         42.703N 71.076W         <carlsonj at workingcode.com>