Greetings Andrew, thanks for the inquiry. 

The partnership is already formed.  The only paperwork needed is about 4 signatures transferring my ownership to another person.  There is no cost involved.  We are an LLC called "XXXX XXXX XXXX".  The current ownership group is myself, XXXXXX, XXXXXXXX, and XXXXXXXXX. XX is the managing partner, and he does a fantastic and transparent job of sending invoices, tracking inspections and maintenance, and generally keeping things running.  We have historically put between 100 and 150 hours a year on the plane.

As of January, we had about 990 hours on the engine, and around $4000 in our club account.  My $8000 asking price includes my 1/4 share and the equity of 1/4 of the club account. Some of the club account is earmarked towards the next annual in June, maintenance, insurance, and licensing.

I'm selling as I moved to the Tri Cities.  This has been a great deal for me, and I wouldn't sell it otherwise. 

The monthly fixed cost is $90, which includes 52.50 for the hangar, 15.00 for insurance, 3.00 for licenses, and 19.50 towards annuals and reserve fund.  The annual usually runs around 1000$, so the monthly dues pay for the annual each year.

The hourly rate is a wet rate, and varies based on the price of gas.  Right now it is at $62 per hour, mostly due to the shutting down of the fuel co-op at Felts and the high price of fuel in general.  That's as high as I've ever seen it.  In the past it has been closer to $50 per hour, but has been rising slowly with the cost of fuel.  The airplane has an STC for mogas, which we've found a source for, and we're now using that, which should lower the rate a bit.

The hourly rental rate right now out at Spokane Airways is about $120 an hour.  I've figured if I fly 2 hours a month I break even with renting, and I get the opportunity to take the airplane when I want, and where I want, for as long as I want (within reason) unlike renting.  I usually fly 4-5 hours per month, and have taken this plane all over.  None of the partners rely on the airplane for business, and as a result, if you want it for a week to go to the coast on vacation, it hasn't been a problem.  We schedule online with Yahoo Calendar, first come, first serve. 

The plane was repainted in 98, and is in good condition with normal wear, and the seats were reupholstered as of last May.  This is a nice older plane.  It isn't perfect, but we try to keep it in good shape.

All the avionics work except the ADF.  We left it in to listen to the ballgame, so the reciever works, but it isn't worth it to fix the indicator for an instrument we don't use.

A number of prerequisites and other things you should know...  You must be a private pilot already.  You can receive additional training (like an instrument rating) but our partnership requires at least a private pilot certificate (which you have), so the plane isn't beat up from learning the basics. Grass strips are welcomed, but rough gravel strips are not.  We just put a new prop on after the last one got nicked up from gravel at Lower Granite.  Lastly, I believe our partnership doesn't allow commercial use of the airplane, so you can't instruct in it, or fly charter.

Just to be upfront, although the airplane has all the legal requirements to fly IFR, we consider it a VFR plane.  We don't keep the pitot-static test current to IFR standards (it costs 250$ every 6 months, and doesn't do us any good).  It does have instruments panel lights and nav lights, so flying at night is fine.  A good IFR plane probably has an autopilot, and lots of instrument redundancy.  Having said that, you can do all the IFR training in this plane cheaply, and move up.

Not being current isn't a big issue.  One of our partners is getting current right now.  If you purchase the plane, you can use it to get current with an instructor, and it won't be a problem. 

Of your 90 hours, do you have time in a 172?  Our insurance is interested in time in type. 

Feel free to give me a call at XXX-XXX-XXXX if you have more questions.  I'm happy to talk planes all day long.


1964 Cessna 172E

Total Time Airframe = 4548 Hours (March 2011)



Engine
Continental 0-300D
145 HP
SMOH =               993 Hours (March 2011)



Avionics
Narco Nav/ComMark 12D w/GS
Narco Nav/Com Mark 12D
Lowrance 2000C VFR GPS
Four place intercom
Transponder Mode C
King Audio Panel
Music Input
Marker Beacon
EGT Indicator

Propeller
McCauley EM7653
New 2009



Paint
Repainted 1998



Interior
New upholstery 2010



Misc.
All logs since new
AutoGas STC