FW: Eagle East Flying Club numbers

[Bob Irving]

Below is the only response so far to my email sent Saturday AM.  

 

Bob

 

From: Bob Irving [mailto:rhirving at verizon.net] 
Sent: Monday, April 20, 2009 2:17 AM
To: 'Dave Ryll'
Subject: RE: Eagle East Flying Club numbers

 

Hi Dave,

Yes, we do have concern about the time on the engine and other issues with
976. As I mentioned in the email, we are more interested in learning if the
numbers would interest you given that a "buy-in" would be necessary.  The
problem with buying a plane other than 976 is that we would need to finance
the purchase and club members would be required to personally guarantee the
loan. Only a few are willing to consider that. If we go to outside financing
an even larger down payment/buy-in might be necessary.  What's your opinion
on the numbers?

 

Bob

 

From: Dave Ryll [mailto:pdryll at gmail.com] 
Sent: Sunday, April 19, 2009 9:57 PM
To: Bob Irving
Subject: Re: Eagle East Flying Club numbers

 

Bob,

 I am interested in learning more about the club. I do have some questions
though about your "interest" in what I am assuming to be N6196 from Eagle. 

  The engine is at 1600 hours. What about the number of years since
overhaul?

  If I remember this plane is not currently IFR certified. Would this be
something that is of concern to the club?

  Please keep me informed 

 Dave Ryll

On Sat, Apr 18, 2009 at 10:01 AM, Bob Irving <rhirving at verizon.net> wrote:

Greetings to all.  We have come up with some numbers and want to run them by
everyone to see what the interest level might be. 

WORD OF CAUTION - this is by no means a final decision. We simply want to
try to measure the level of interest in joining "Eagle East Flying Club" if
we decided to purchase - a 1974 Cessna 172M with 5700 Hrs TT and 1600 Hrs on
the engine.  

 

The engine has about 400 Hrs remaining before it must be replaced. The 400
Hrs remaining could come quickly if we have 15 members flying the plane.  We
don't want to lowball monthly dues and hourly cost only to hit everyone with
a surprise special assessment for a new engine 6 months down the road.
Therefore - with 15 members first year per member costs for this airplane
look like this;

 

Buy-in (engine reserve/down payment on aircraft) = $1450

Monthly dues = $55

Hourly rate (wet) = $65

 

These numbers include everything we can think of including financing costs,
insurance, normal maintenance, annual inspection, taxes, tiedown, etc.
After year 1 our aircraft would have a brand new zero time engine.  Perhaps
it would be upgraded at time of install from 150 hp engine to 180 hp.  Some
are already discussing adding a GPS but that's down the road. 

 

Would you be interested in forming a club if these were the numbers?  If
these numbers are not what you expected, tell me what you might be more
comfortable with. Please send me your comments.   We need feedback.  Thank
you.

 

Bob Irving  


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