Hints/Tips for considering a share in an aircraft

[A330 Dreamer]

As you may have guessed, I am looking for hints/tips/advice to consider prior to purchasing a share in an aircraft before diving in head first.

All pointers welcome

p.s - would any share-holders find it a slap in the face if asked would it be possible to fly an hr or 2 in the aircraft prior to purchasing a share?

- obviously paying whatever the group want for the flying!

thanks

[robin]

The problem is that potential sellers don't like time-wasters. You do need to fly any aircraft before buying into it, but you'll have to be diplomatic in explaining that you are not a firm buyer (yet)

Bear in mind, you cannot legally pay for the flight, so you might be costing them time and money.

But explain it carefully, and see what they say.

[englishal]

I was offered a free flight. I arranged to meet the chap at the airfield and he said on the phone "bring your headset and we'll go for a flight". I didn't want to be a timewaster and told him it was ok at this stage, but he insisted. I bought the share there and then I was so impressed

I would expect a flight once I had made a conditional offer (i.e. I offer you £xxx on the condition of a satisfactory flight test) and then offer to pay for the flight if the sale didn't go through.

[possel]

Apart from flying the aircraft, there are many other issues to consider such as the group structure/rules/constitution, availaibility and the maintenance, condition and equipment of the aircraft. Does the group have any reserves, and what happens with any unexpected bills? And do you like the other group members? Will you get on with them? Are there any hours builders? Try to meet, or at least speak to on the phone, more than one other member.

I had a group trial a few months ago - I offered to pay at least the legal half of the direct costs but he was having none of it - presumably because he knew I was genuine. Unfortunately I didn't buy in!

There was a comprehensive article in Pilot a few months back about group shares.

[owenlars]

Don't forget that the incentive for the current group members is to 'recruit' someone who they get on with, will pull their weight and will take care of the main asset (or if you are lucky assets). So it is a two way street. We are delighted, in our group, to take someone up who is expressing genuine interest in joining, it is pretty simple to weed out time wasters and I have to say we don't get many (any).
It is also not a bad idea as a group to have a list of those who have expressed an interest and are genuinely qualified as you never know when things are going to change.

[stickandrudderman]

Groups: Be very Careful

Just because you've got an itch, try to refrain from scratching it as long as possible. I know you'll HAVE to scratch it in the end, but by that time you'll be in a better position to make an informed decision.
Find out all you can about all of the group members, what their role is within the group, what the legal structure of the group is etc.
How they react to detailed questions will give a good indicator as to whether you will WANT to join that group.
It's important that there is some form of common communication between the members, (a common email address such as can be established through Yahoo groups for example), and active participation by individual members in all of the decision making processes.
Beware "passive" group members. They can cause problems if their opinion/input becomes a necessity and they're nowhere to be found.
Only once you're satisfied with the people in the group should you start to take a look at the aeroplane.
At this stage you should employ an independent engineer to examine the aircraft, NOT the engineer who usually does the maintenance, but certainly one who is familiar with the type.
He may well find things that the existing engineer has overlooked. At this point the group will either welcome the fresh input or get the hump because you're meddling with their cosy world.
This will greatly assist you in making your final decision!
Bon Chance!!