Sean Toner

SOLD: 1/4 Ownership in a 1963 Mooney M20C

12/21/2017 in Aircraft News, Members News, Public News

SOLD: This equity share has now been sold, effective July 2018.

The Mesquite Metro Flying Club now has one equity ownership share of our 1963 Mooney M20C available to purchase! This is a wonderful opportunity for any pilot looking to become a first time aircraft owner, while avoiding most of the heavy costs associated with aircraft ownership. Whether you’ve been a member of a flying club before or not, this is a chance to gain further experience as a pilot, as an aircraft owner, and contribute to the social camaraderie and fellowship of the club, and help promote a culture of safety and confidence among all fellow members.

About the Club

We’re currently a 4 member club, based out of Mesquite Metro Airport (KHQZ) on the east flank of the Dallas/Fort Worth Metroplex. Collectively we own 1 aircraft, a 1963 Mooney M20C. Our club was founded in late 2016, with heavy assistance from the APOA You Can Fly initiative. The club is established as a 501(c)(7), recognized by the State of Texas as a Non-Profit Social Club, with a Board of Officers and Bylaws. We purchased our 1st aircraft in March of 2017. Our club currently operates on an equity share basis, meaning each member owns an equal share of the aircraft. On paper, the flying club owns the aircraft, and each member buys a 1/4 share from the club. In practice, all equity owners of the aircraft have equal voting rights into any decisions involving the aircraft. While our goal in the immediate future is to continue to maintain a 4 member club with 1 aircraft, we have designed our club bylaws to allow for potential unlimited growth for any combination of equity and non-equity members, and with any number of aircraft. We’ve toyed with the idea of expanding our membership to allow the purchase of a 2nd aircraft, but there are no current plans for that at the moment.

Since we’ve maintained a smaller club size, we’ve enjoyed virtually no scheduling conflicts between members. We designed the club to encourage overnights, weekends, and week long trips without financial penalty. Scheduling is performed on a first-come first-serve basis, using an online scheduling tool. Members can easily view the schedule from any computer or mobile device, and book any times desired.

Aircraft maintenance is scheduled by a designated Maintenance Officer, and performed on a regular basis, based on best practice, maintenance of aircraft value, and federal regulations. The club maintains a maintenance reserve in the club’s bank account, which is regulated by the club’s Board of Officers, and collected based on yearly, monthly, and hourly dues from each member.

Financials

Financially speaking, we collect dues in the following major categories:

  • Equity Share – A 1 time purchase of a 1/4 equity share of the aircraft, making the purchaser a 1/4 owner.  The cost will be negotiated with the seller of the share, but the price is based on 1/4 of the aircraft’s current appraised value. The purchase price will need to be negotiated with the current equity share seller. This aircraft currently would appraise between $57,500 and $68,000, meaning the equity ownership price might work around $15,000, plus or minus.
  • Monthly Dues – These dues cover a variety of typical planned scheduled expenses, such as annual insurance premiums, hangar fees, budgeted annual inspection fees, registration fees, and maintenance reserves, divided by 12. Monthly dues are split evenly between each member. Current monthly dues are $150/mo, but may fluctuate each month based on expected or unexpected expenses. These costs typically do not vary more than 10% each month.
  • Hourly Rate – This rate is based on tachometer time, for aircraft usage by each individual member, charged each month. The hourly rate is considered a “wet” rate, meaning that it includes Fuel, as well as building a maintenance reserve for planned engine overhaul, an additional maintenance reserve for unexpected repairs, and so forth. If a member does not fly in any given month, no hourly rate is due from that member. We currently charge ourselves $85/hr to operate the aircraft with a wet rate, which includes all fuel.

 

Flying Clubs

Our flying club offers a tremendous opportunity to become a first time aircraft owner. All of our existing members are now first time aircraft owners, and collectively we have learned quite a bit about it. Each of us brings a unique collection of knowledge to the club, and together we all contribute to the greater pool of knowledge, wisdom, and safety. First time aircraft owners are welcome to join us!

If you’ve never been a member of a flying club before, there are many tangible benefits such as lower hourly wet-rates to operate the aircraft. There are also many less tangible benefits that a club naturally offers, such as helping to develop and maintain higher safety standards between all members, by fostering an environment where members are encouraged to help each other improve their skills. Flying clubs help mitigate financial risk, by distributing costs between the equity members for nearly all expenses. Individual member financial liability for any aircraft damage events is also minimized, since we use one collective insurance policy with each equity member as a named individual.

Club Aircraft

To read more about the aircraft, please view our Club Aircraft page

Club Aircraft

Contact Us for More Information

If you would like to learn some more about the club, get some more information about the aircraft, and would like to talk to us about this opportunity, please send us a message by clicking this link and submitting this brief contact form.

How To Join

MMFC to remain a private club for at least 6 months

04/05/2017 in Members News, Public News

The Mesquite Metro Flying Club has agreed to remain as a private equity partnership club through at least October 2017. This decision was reached during an Annual meeting of all existing partners, to address various inquiries we’ve received for information and potential future membership. We’ve elected to remain a private equity partnership for the time being, since we’re a brand new club and first time aircraft owners. We felt it would be more appropriate to re-consider opening the club up for additional members once we’re all better experienced with aircraft ownership and club operations. We certainly appreciate all of the interest in our club that we’ve received, but we’d probably be doing new members a disservice by offering additional membership slots until we’re better equipped to add more members and all of the associated logistics related to insurance requirements, CFI checkouts, and so forth.

Annual Meeting scheduled Tuesday 4/4/17

03/30/2017 in Members News

The first annual meeting of the Mesquite Metro Flying Club is scheduled for 4/4/17 at 6:00pm, to be held at Steve’s house.

MMFC finalizes purchase of first club aircraft

03/24/2017 in Aircraft News, Members News, Public News

The Mesquite Metro Flying Club (MMFC) has complete purchase of its first club aircraft, a 1963 Mooney M20C Mark 21! This beautiful aircraft was purchased Friday March 17, 2017, concluding MMFC’s long 8 month search for a suitable aircraft. Our Mooney, registered as N6867U, has been ferried back to Mesquite Metro Airport (KHQZ) by a club member and a veteran American Airlines captain, and currently resides safe and sound at the Mesquite Metro Airport.

The aircraft features a Lycoming O-360 180 horsepower engine with just over 800 hours since factory overhaul. It is fully IFR certified with a Garmin GTN 750 NAV\COM\GPS mounted center panel. The aircraft is also equipped with an STEC-20 autopilot, an EDM 700 digital engine monitor, and a digital tachometer. She cruises at a zippy 145 KIAS while sipping a meager 9.5 gallons per hour. The aircraft was owned for 10 years by the previous owner, based out of a community just north of Phoenix, Arizona.

The club continues its work in finalizing operating rules and determining hourly rates required to operate the aircraft, as well as a continued search for a permenant hangar at Mesquite Metro Airport.

N6867U Mooney M20C Pictures

03/06/2017 in Aircraft News, Members News

Aircraft photos for the gorgeous Mooney M20C N6867U have been uploaded to the website’s FlyDrive. To view them, navigate to Members->FlyDrive, or click this link to view in Google Drive directly:

 

https://drive.google.com/open?id=0ByyvLGXHIWgzdXg0U3E0QzdvRm8

Club’s document storage made easier!

03/03/2017 in Members News

We have a new and much easier tool to store and share club documents securely through the website! This tool which I’ve named FlyDrive, uses Google Drive as a back-end storage platform, allowing us 15GB of free storage. Any member can now upload any document up to 500MB in size, and share it with a link to anyone else. This tool also makes it significantly easier to manage and view the Meeting Minutes repository, user manuals for avionics, aircraft logs, club logos, and so forth.

 

The document storage tool can be accessed after logging in to the website, by navigating to the Members menu, then selecting ‘FlyDrive’.

MMFC Club Bylaws ratified by unanimous vote

09/09/2016 in Members News, Public News

The Bylaws of the Mesquite Metro Flying Club were ratified by unanimous vote of all members on August 8, 2016. These bylaws define the operating procedure for all club affairs including our mission, officer elections, membership types, and accounting practices.

The bylaws were assembled after thorough review of other similar flying clubs bylaws and operating rules, and customized to fit our own needs. Three separate drafts of bylaws were assembled before the finalized draft was ratified.

Click here to review the MMFC Club Bylaws.

Formation of the Mesquite Metro Flying Club

09/07/2016 in Public News

The Mesquite Metro Flying Club was officially formed on August 2, 2016. Four founding members came together with a common goal, to affordably own a quality aircraft in partnership for travel and recreation. The club is composed of members with various degrees of flying experience, including those with commercial pilots licenses and instrument ratings.

Before the club was officially formed, it started with humble beginnings as an informal meeting with coffee and donuts at an airport conference room. Bruce Dunai, the MMFC President, and Pat Brown, AOPA Ambassador, hosted this introductory meeting. Over 30 people were present at the Mesquite Metro Airport terminal conference room on June 18, 2016.

Pat Brown’s presentation helped educate everyone in attendance on the process for beginning a flying club, including expected challenges, expenses, and other club’s experiences. As an AOPA Ambassador, Pat’s mission is to aid flying clubs get off the ground by providing advice, networking with other flying club friendly businesses and even offering instruction in new aircraft for a club. Pat even flew in the AOPA sponsored Cessna 152 Re-imagined, painted bumblebee black and yellow, and nicknamed Woodstock.

Bruce Dunai followed up by commenting that the general mission and preferred aircraft type of most attendees will be a low wing for travel, such as a Piper Comanche. A Piper Comanche on field was even a candidate for partnership.

mmfc-logo-version-1-1-512px

After the meeting, the first three founding members Bruce Dunai, Steve DiSerio, and Sean Toner sat down with Pat Brown to begin the first real discovery and planning for starting the club. It was here that the club’s name was chosen and other tasks were delegated.

In less than 60 days the club was officially formed. Setup under the State of Texas as a 501(c)(7) non-profit tax exempt social club, the now 4-member strong club began.

The club continues its work in identifying an ideal aircraft for its members to use, focusing primarily on a Piper Comanche 250 or similar type. The aircraft must be capable of higher cruise speeds, high useful loads, and affordable by all members.

For more information about the Club, be sure to review the Club Overview.

No Club Alerts

08/01/2016 in Club Alerts

No club alerts have been created yet. If you have an extremely important concern that needs to be shared with the entire club, you may create and publish your own alert here. Go to the “Members” menu, then go to “Create New Blog Post” on the left. Be sure to select the ‘Club Alerts’ category before saving.