Primarily for general aviation discussion, but other aviation topics are also welcome.
#1655496
JAFO wrote:I am thinking about buying a group share in an LAA type. What are the questions I should be asking?


‘Can I see the financial reports for the last five years please?’

Peter
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By JAFO
#1655498
It is buying a share from an existing member of a long-established group. I can afford the cost of the share and the monthlies plus the cost of the flying but don't really want to be hit with any big bills any time soon.
#1655499
JAFO wrote: What are the questions I should be asking?


JAFO , do you have any specific PtF type in mind ?

The LAA fleet consists of many , many types these days . From classic/trad. wood fabric types , to 200mph+ sex machines . The 'question bank' could be bloody enormous .
Gissa clue mate . :D
#1655507
Aside from the points already raised, aircraft and airfield availability and how easy is it to book (and by what method)? Does it (the syndicate) require an instructor sign off/type conversion and any minimum hours requirement (I don’t know how experienced you are)?

Also are they a sociable bunch and easy to get on with? That may make life easier or more difficult, dependent on the answer...

Ian
#1655509
Rob L wrote:The group makes the share worthwhile, not the aircraft.


Boy is that ever spot-on.!

Try and have a chat with the a/c's Inspector . He/she will be the one to tell you about past and probable future items of expenditure .

And whilst you've got his/her attention [ 'scuse the vernacular] ask if there are any w&nkers in the syndicate . It only takes one .






[Edit: Due to misogynistic presumptions... :D ..]
Last edited by Chris Martyr on Tue Dec 04, 2018 9:58 pm, edited 2 times in total.
#1655516
What is availability like? Weekdays, Weekends.
Are there members who pay but don't fly?
Are there members who pay and fly the pants off it?
Is there a CRI in the group?
Are there limits to my liability if I join?
Does the group ensure all members are licensed, rated, current and medically certificated?
What excess is there on insurance claims and who/how is this apportioned?
What geographical limits are there in the insurance T&Cs?
Does any member owe significant monies to the group fund?
What is my share certificate worth compared to what I paid for it?
If the group wishes to expell a member (not me of course) what financial arrangements are in place?

And that's in five minutes.

Having been a member of a few groups I now own my own a/c. (Hint)
Shoestring Flyer liked this
#1655533
Be careful you don’t sucked into a group where everything is just too over-procedural. It’ll sap your enthusiasm and you’ll end up being a part of ‘washing parties’ and ‘admin evenings’.

They’re generally run by retired types who have little else to do, and are trying to find any excuse to not have to take Deirdre to the garden centre, or creosote the fence.

Find a group where people are of a working age where they don’t have any time to fly, they pay their bills and you’re not obliged to spend every fifth Thursday discussing whether a Goodyear dust cap is better on the wheel than one from eBay that’s 1.6 pence cheaper.

Personally, I’d only ever get involved in a group with someone I already know and trust, as I have done on one aircraft. No rules needed. It just works.
Rob P, BehyBill, Flyin'Dutch' and 4 others liked this