Firstly, I've google'd/searched the forums and most threads pertaining to syndicates/shares are OLD!
I'm at the stage with my flying where I would like to do some 'light' and 'not so light' touring. I'd like to be able to fly to certain destinations and park the aircraft for as long as I'd like to explore the town, scenery, and local attractions. I'd like to be able to do multiple leg journeys over a few weeks.
After running the numbers the minimum daily use and/or overnight fees rapidly add up for a hired aircraft even though I'm part of an aero club. There is also the added pressure to get the aircraft back so as to minimise disruption to other bookings.
I have started looking into forming a syndicate and I'm confident that if I buy the right aircraft and it is thoroughly checked out that the hourly costs can be kept to reasonable level. At this stage I'd be looking to have one or two other owners at most, to keep things simple.
The one thing that I haven't been able to get much information on is the best way to legally to set it all up. Does anyone have any advice as to a good solicitor in Sydney who has a bog standard agreement or experience in drafting them for a reasonable price, or any thoughts on how the whole thing should be structured?
Apart from a sound legal agreement, making sure any prospective aircraft is thoroughly checked out, and being on 'the same page' with other syndicate members, is there anything else that I should consider? I want this to be an overall positive experience, not a nightmare!
