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Walt brings up a good point.

The basic trust he has between himself and the owner who has been a friend
for 30 years is critical.   In that example questions such as fiscal
responsability are moot since they have an established track record.

Similarly, Walt has amazing credentials with every rating required to do a
great job.

Now picture the owner who does NOT know an A&P, IA, ATP for 30 years and is
faced with hiring someone they have only just met.  

This owner is in a very different position from Walts client.   He is being
asked to plunk down $300,000 in parts plus what, another $100,000 in labor
and trust that in 2 plus years he has a plane and not a flying casket?

As for the comment that some owners may have an attitude that they may get
ripped off....well Walt, don't judge every builder by your own standards
because I can assure you owners DO get ripped off.

How do I say this with confidence?

Well it happened to us when Patrick O'Brien took a $40,000 advance from us to
complete N424E and then a few short weeks later closed his door and we had to
fight with the local Sherrif to get our plane back from him.

While we are $40,000 lighter for the experience, the hope was that others
could benefit from our experience.

If all parties are honorable then an escrow arrangement should be very
acceptable.   If you are dealing with a friend of 30 years then this equation
may not be required.

Better SAFE than sorry or worse....DEAD!

Dave
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LML website:   http://www.olsusa.com/mkaye/maillist.html
LML Builders' Bookstore:   http://www.buildersbooks.com/lancair

Please send your photos and drawings to marvkaye@olsusa.com.
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