Long EZ offer

[Mynor M B]

I have the oportunity of participate in a project a friend just got of a long EZ, this is 75% completed (fuselage, wings, canard, elevators, landing gears, large rudders, canopy) every thing is done 75%, still need to be assembled, control cables connected, finished, painted, still need to buy an engine and all of the testing procces. Now this little baby, has being waiting to be finished since 1985, and has had 3 owners so far. My firend is asking me to put down $7000 and from that point we will do the job as well as buying the the things 50/50. So my question is: is this a good thing to do? considering that this is a project that has being traveling and waiting for too long. First owner was in Virginia, second in Boltimore, next in Costa Rica and now I´m thinking about it. Can some body give a good advice please?.

[magnum]

Who is the guy in Costa Rica? I used to live there and I was wondering if it was another scam. Please let me know or PM me. Dont want you to get burned!

Later

Tom

[Kent Ashton]

These unfinished projects can be a good deal but frankly, I'd be leary about buying an airplane FOR someone else. As I understand it, your friend is asking you to foot the entire purchase price of $7000. If he can't come up with $3500, how's he gonna cover his share of a $10K-$18K engine and $3K-$6K avionics?

 

If the kit has been well-built so far, buy it yourself and tell your friend he's welcome to work on it and buy in when he gets the money. If you lose interest or your friend backs away, you can sell it for about what you've got in it.

 

Good workmanship is pretty self-evident. If it looks good, it's probably been built OK. Best to take someone along who is familiar with EZs, though.

--Kent

Cozy IV N13AM

[Kent Ashton]

Just reread your first post. Move to amend and extend my remarks. ;-)

 

$14,000 (total) for a 75% airplane seems a bit high. Why don't you offer to help him work on it and see how it goes, with the understanding that if you enjoy the work you can buy-in later for $7,000? He gets your labor for free, you get a chance to see what kind of partner he'd be and decide whether it's worth it.

--Kent

[Jon Matcho]

I second what Kent says. I've seen comparable projects for around $7,000 total. Of course you may have to ship from North America.

 

Take some pictures and post them here for further comment. Tell your "friend" you're getting a second opinion. What did he pay for the project? Ask to see the receipt. If it wasn't $14,000, then get him to justify why it's now worth that much. If he wants a partner, the 50/50 deal can be applied retroactively and scaled up based on simple factors.

 

If there are too many questions, then don't get involved.

[magnum]

Follow up!

 

After living in CR for 4 years, I know for a fact that you will have to pay around 50% import duties on the plane and then you will go thru H*** to get it registered and out of customs. You have to have a lawyer and a customs agent . Have you checked about if you can even license an experimental in CR? . There has to be a title as we know it from here to get it registered there! Good lawyers there are few and far between. Beleve me I know! I went thru h*** just to ge a dune buggy thru vehicle inspection so I could drive it on the road.

You really need to check this out before you move on it. You cannot get anything such as parts fiberglas etc there. You have to import it all and the taxes can go as high as 100% if they want to stick it to you and there is no fighting them. I E you will double the cost easily and then have a lawyer to pay at the end! :yikes:

Think about it

[Mynor M B]

Dear members I really apreciate your answers, what I think I can do is to offer this friend to cover the expenses from here on, until we finish the aircraft, that can be some where between 10K to 14K (that is almost what he got on it so far) the project comes with a O-235 Lycoming engine with a total of 700hours on it, so what this baby still need is: engine accesories, engine instruments, control cables, avionics, finish the rudders, install the wings and the canard on the fuselage, give it a nice looking interiopr and exterior finish proccess and the testing procedures. Concerning to Costa Rica Regulations, this aircraft has to be registred as an ultralight and as long as you do that, there will be no problem at all to fly it anywhere, if you install a transponer mode C on it. So that is the scenery so far. What do you think members? is that a fare deal? Looking forward to here from you: Mynor M B

[Kent Ashton]

I think I can do is to offer this friend to cover the expenses from here on, until we finish the aircraft, that can be some where between 10K to 14K

You could offer to cover all the costs up to $14K, then 50/50 after that. Since your friend has his $14K in it now, that's a pretty good motivation for him to work to get it completed.

--Kent

[Mynor M B]

Thanks for all your answers, I all ready did the offer to my friend, and it was acepted, so from now on I am a Long-EZ builder, and I am looking for places where to buy some tubing material for the ailerons control rods, so I will apreciate any help with it.

Thanks.