I didn't know where to post this but overall safety is a concern.....
My friends, this is probably the most serious question I have ever asked since I began flying in 1971. As you know I have completed and flown two airplanes in the past 5 years. I have suffered from chronic back pain since surgery almost 10 years ago and my projects have really kept me going. I enjoy building and flying more than anything and the only time I find comfort is when "working through" the pain. But @ 70 I suspect my flying days may be numbered and I worry about market forces and my ability to sell my planes.
My Acroduster 2 has been a success. Built light and flying single place it has met my goal and is LSA compliant. I installed a high time 2055 SMOH but very well maintained IO320 engine. It has been turn key, runs perfect and has used 2 qts of oil in 27 hours. It suits me perfectly but is underpowered and in my opinion would be problematic as a two place airplane...... Anyway I have suspected that if I were to sell I might separate the engine(sell core) and offer the registered w/AWC airframe to someone who would install a bigger engine?
I have also been concerned with the future of sport biplanes in general and lack of new blood. I have even remarked that I'd like to mentor younger pilots but there just aren't any around.....Well there is one.
We have a young pilot who showed up about a year ago. He is the son of a long time local pilot. He has a Challenger 1 that he taught himself to fly and to my surprise has done well. He also bought a PA22 and started lessons and is ready to take his PPL flight test. He is a long haul truck driver and has been out on the left coast for several months, was home for the holidays, went back out west and will be back in April. It seems he have been making enough money that he plans on buying a house for cash next year.
The nitty/gritty. He was working on his Challenger and helping me off/on for several days with the canopy on the Spezio. As we talked I mentioned that I needed to seriously consider selling one or both of my airplanes? He asked me what I would take for the AD2 and w/o thinking too hard and being in one of those moods when work wasn't going well and I was hurting and tired, I said, "Give me $20,000 and take it away". He said, "Really? I'll buy it!"
This led to a serious discussion about exactly what he would be getting into and what he would need to do before he should consider something like a SA750. I also noted specific issues with this particular airplane. Bottom line, I told him I would NOT feel right about selling it to him at this time. I told him to get his PPL, get a good tail wheel endorsement plus some S2 Pitts time. Also call the insurance company. I'm not going anyplace(I hope), if you are really serious, we will talk.
I thought about him over the weekend and my mind went bingo! Maybe? This kid is serious. Not only may he be the answer to my situation but I may be the answer to his goals? Maybe a partnership? BTW, the guy who owns my hangar is aging and wants to sell and my young friend wants to buy it to secure it for his future saying I could lease it as long as I wanted. The hangar has also been a concern. I don't want to buy it and then have to quit and can't sell it or even leave it for just something else Marcia may have to deal with? But I worry it will be sold out from under me...
Anyway, I know almost NOTHING about a partnership. Oh, he is excited about the prospect. Says it would be better than buying it outright and offer him the chance to learn about maintenance etc. We talked about insurance and other things. I only carry not in motion hull and would have to get all risk hull even if he wasn't flying it yet. Anyway he is on board for whatever I come up with and is willing to jump through all the hoops.
We will talk about it when he comes back in April.
Anyway, I would appreciate any and all insights, advice and/or concerns involving such a partnership. My goal is to protect both of us. I did mention that the last thing I wanted to see was for him to get hurt and unless he satisfied ME in addition to Bill Finagin and/or the insurance company, I wanted to reserve the right to bail out and give him his money back.
Thanks in advance,
Jack
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