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RobertGary1 last won the day on August 29 2015

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  1. Turning Mooney into a Partnership/club

    Also be careful with llc’s. Some states like California charge an operating fee (regardless of state of incorporation). Californian is $800 /yr Francise fee for llc’s reagrdless of the State they’re registered in if there is an aircraft based in California. -Robert
  2. Turning Mooney into a Partnership/club

    That’s leaves a lot of insurance holes though. If the plane is totaled as a result of a brake line going out neither the owners policy will Pay (not approved pilot) nor the pilots (not pilot error). You really need to list all polots who’ll have regular access. Even open pilot warranty usually exempt anyone with regular access.
  3. Turning Mooney into a Partnership/club

    I’d be curious how you handle assessments etc for unequal shares. -Robert
  4. Crazy annual (paranoia)

    It’s amazing how small the bolts are that secure the mount to the frame. -Robert
  5. Unlike car gas stations, airport usually only change their prices when they get a delivery. So if they got a 60 day supply at a good price the price will be good. If they bought at a high point their prices will be high until they sell that delivery. Car gas stations change their prices daily based on market conditions and the price they paid for what's in the tank is just a sunk cost, it doesn't really make a difference. -Robert
  6. Cost of ownership "budget"

    I feel you. I have two away at college. Supporting 3 household, tuition, etc. Makes me not anxious to put money into my planes. -Robert
  7. Crazy annual (paranoia)

    As long as your wallet is open they'll keep finding stuff. Its up to you to decide if you want to rebuild the plane from prop to tail every year or if you wait to replace things until they really need replacing. Its pretty easy to convince new owner to replace almost anything before it needs it. -Robert
  8. What is this device in the tail?

    As long as you don't reweigh it. -Robert
  9. Adding brake fluid

    As with the Facebook post I'm going to say that just bleeding the brakes is a dangerous approach. If you've lost so much fluid air has gotten in since it was presumably checked at annual you have a serious problem that needs to be fixed; not just bleed to make the symptom go away. -Robert
  10. Smoke system for a Mooney

    I mean isn’t that what we’d ALL do if we could? -Robert
  11. Turn Coordinator flaked out during IPC

    A friend and I give each other IPCs every 6 months. Last year when it was my turn my vac pump died. I really wanted to do the entire IPC with the dead pump but he was against it. I've had the attitude indicator roll over and die in IMC but never had a pump die in IMC. Luckily I caught the dead pump very quickly because I've been watching these gauges for 20 years and they just didn't seem to be reacting right. It also reminded me to repair the vac sensor on my voice annunciator (which I did the next week). -Robert
  12. Strip & Seal Fuel Tanks

    I patch mine every 5 years or so. I'm on the original sealant. A reseal is a bit of a nuclear option. Patching costs about $150 in materials and your A&P can easily teach you how to do the dirty work. Of the Mooney owners I personally know (all mid 70's planes) I don't know any that have opted for a full reseal. -Robert
  13. Strip & Seal Fuel Tanks

    Patch and patch? You should get at least 5-8 years on each patch. -Robert
  14. Cost of ownership "budget"

    Not for private ownership but I hear you guys pay sales tax on real estate. -Robert
  15. Cost of ownership "budget"

    I kind of agree with what others have said. If I had to finance my airplanes I wouldn't have bought them. We had one guy here who financed an airplane (C model) and later found corrosion and said he was going to have to total the plane out. Had to explain to his wife he'd be making payments on a plane he didn't have for years. Over the years I've had a few "holy crap" unexpected repair bills in the 5 figure range. I'd hate to have to figure payments on top of that. -Robert