Group Flying?

[Mad Hat]

Being a PPL holder with around 55 hours, I have begun my ATPL studies distant learing.
During the next 'fun' year before I get to do the proper flying stuff, I want to keep current and build some hours.

I have been reading with interest the advertisements in the back of flying magazines regarding shares in aircraft, with a small deposit (from 0 up to around £5000 ish) it seems that I could fly for a monthly maintenance fee of £50 - £100 and an hourly rate of £50ish a hour.
Is this a good way of building hours?
Would I normally need a good few more hours under my belt before a group would entertain the idea of me joining?
If I was to buy a share, how easy is it to sell again, after say a year, when I go to do my CPL flying?
Any other pitfulls, ie availability?
Am I talking nonsense?

Any advice would be much appreciated

[200V AC, 3 Phase, 400 Hz]

read this months pilot mag,there is a 4 page bit on group flying, quite good reading.

[Winston]

Mad hat, I was in the same boat about 5 years ago when I was trying to hour build. I had a PPL with about 50hrs TT. I decided to join a group which flew a Tomahawk.It depends on how much flying you want to do really obviously the more hours you do the cheaper it becomes. If you have the cash to put down in my opinion it is the cheapest way to hour build in the UK. Just make sure you look at it carefully and take into account the monthly fee when calculating the hourly rate.

[QNH 1013]

Joining a good group will transform your flying. The magazine articles will tell you the pitfalls to watch out for, but the typical figures quoted can be easily beaten if the group is based on a PFA aircraft. The major disadvantage of this is that no IFR flights are allowed.
I joined a well run group with a two-seat Jodel about three years ago. The share cost £1800 then and has risen by more than inflation. We pay £28 per member per month for all the fixed costs, and £9 per airbourne hour "dry". i.e. we buy our own AVGAS at 18 litres per hour.
The group is so well run that we have just been able to have the engine zero-timed. Not bad eh?

An alternative (again a PFA senario) if you can afford £5k to £7k is to buy yourself a single seater, e.g. Jodel D9 or Turb D31, which you should be able to fly for peanuts. You will have to find some hangarage, but the a/c will probably be a better investment that current b/soc rates!

Final note: When we interview prospective members of our group it is attitude rather than hours that we look for. We often have members who join with a lot less than 100 hours, and we even had a student in the group once. However, we do insist on a proper tailwheel conversion course for new members until the instructor is happy. I can't recall anyone taking longer than five hours for this and some (with previous tailwheel experience) have been "signed-off" in an hour.

[DOC.400]

Tread carefully!! Beware the group with little towards an engine fund and 'unforeseen eventualities' that will have you digging in to your back pocket....

I can't believe the hourly rates of some group flying that barely must cover the fuel, let alone oil, 50 hour checks, engine fund etc.....

[The man formerly known as]

Read the article in Pilot. It is very well written, informed and a true reflection of my group experiences.

Group flying is great, I really enjoyed it and it forced me to be more adventuous.

Also with group flying it allows you to get your hands on kit that can't be rented easily (eg pitts, yaks and jets).

Just be aware as doc400 says, planes do cost money.