Ownership Partner
For the past 25 years, my uncle has owned an airplane with someone (same person the whole time). Just recently, he retired and sold the aircraft. He placed an ad in the newspaper and he and the guy ...
Forum Discussion
I had a fractional ownership interest in a $250,000 boat one time. There were 6 partners and the biggest problem I had was scheduling. Everyone wanted the boat on the weekends only, especially holiday weekends. We sold the boat 6 years later for $37,000. I was thrilled when we sold it because I saved myself the vast majority of the loss.
I also have business partnerships in two businesses I own 50 / 50. I'm thrilled with both of my business partners.
I think your plan is totally doable. But try to agree on the structure of the partnership in advance.
Will maintenance always be done on time? Who will do the maintenance? Will the costs be split evenly or divided by miles / days, hours, etc? What about custom mods that one partner wants to do and the other doesn't? How clean is clean?
Try to consider any other points of contention mentioned above in the other comments as well.
I also have business partnerships in two businesses I own 50 / 50. I'm thrilled with both of my business partners.
I think your plan is totally doable. But try to agree on the structure of the partnership in advance.
Will maintenance always be done on time? Who will do the maintenance? Will the costs be split evenly or divided by miles / days, hours, etc? What about custom mods that one partner wants to do and the other doesn't? How clean is clean?
Try to consider any other points of contention mentioned above in the other comments as well.
