Twin share advice.
I have been offered a 1/4 share in a 1959 Cessna 310. It is currently in the US awaiting ferrying over here. It will remain on the N register.
I haven't seen it yet with my own eyes, but I have seen some very encouraging photographs of it and it looks to be in pretty good shape.
It has just had over $10K of work undertaken on it. I believe that the airframe has around 5000 hrs on it. The engines have 500 hrs each and the props are zero hrs. It has had new tyres, batteries, magneto's and a whole host of other gear fitted. It will come with a fresh annual/ IFR and all other required certification.
There will be 3 "Share-holders." All of which are FAA certified tech's, one of whom has an I.A. so we are not too worried about maintenance issues. The aircraft will be based in the SE somewhere.
To be honest, I am very 'green' and have never been involved with an aircraft share before. The main share holder (who doesn't yet fly) doesn't really know what's involved with basing an N plate aircraft in this country. I am also unsure as to what pitfalls there are. I do know that it has to be registered through a trust.
Can anybody offer me any sound advice on what things I should be looking out for and problems that I might come up against. Also average costs that might be involved in this, with such things like trust fees, parking/hangarage, insurance etc etc....
I am being asked for £7000, which I don't think is too bad, but I may reconsider if I am advised other wise.
Thanks in advance.....