ideas [was Re: ]

[toddmbs@yahoo.com]

I have to concur with James.  I've had some time to think about a it from a few approaches.  The only viable option I can come up with is purchasing the plane straight out and including that cost in the fixed costs/monthly fee.

In my opinion, taking on a loan with personal guarantees is just shoveling against the tide if we can pay for it with our personal equity.  The other bonus there is that we can make a little bit of money on it ourselves (not a whole lot obviously).  The deciding answer is simply how many of us can put money up and how much.  Then we can decide how much plane to buy.

I can do some financial tricks and free up some cash.  That's two of us.   Anyone else?

Todd


--- On Wed, 5/6/09, James Carlson <carlsonj at workingcode.com> wrote:

From: James Carlson <carlsonj at workingcode.com>
Subject: ideas [was Re: ]
To: "Eagle East Flying Club Core Team" <eefc-core at workingcode.com>
Date: Wednesday, May 6, 2009, 3:03 PM

Bob Irving writes:
> Has anyone come up with any more ideas ?  It has been pretty quiet these
> past few weeks.

Given the discussions we've had so far, I think our best bets are to
explore
 a new airplane, funded in one of two fairly similar (and not
necessarily mutually-exclusive) ways:

  - A group of 3 or 4 of us chip in a substantial amount each as a
    loan to the club.  The club pays us back at some "standard" rate
    (say, 8% over 15 years).  Those payments become the "note," and
    the total contributions are used to buy something we can all agree
    on.

  - A group of 3 or 4 of us agree to be the co-signers for a loan from
    some standard place (BoA seems like it), and the loan payments are
    made by the club (and guaranteed by this small group), and the
    proceeds are used for a new plane.

The two can be combined.  We could have members who either chip in or
secure a portion of the loan or both.  Those who agree to help out
here are signing up for the long term.

I
 have reason to believe that in a few weeks, I'll have a small pile
that I can use for this, and that I wouldn't mind having tied up for a
while.

Any others?

-- 
James Carlson         42.703N 71.076W         <carlsonj at workingcode.com>
_______________________________________________
eefc-core mailing list
eefc-core at workingcode.com
https://www.workingcode.com/mailman/listinfo/eefc-core



      
-------------- next part --------------
An HTML attachment was scrubbed...
URL: http://www.workingcode.com/pipermail/eefc-core/attachments/20090506/25c481c1/attachment.html