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Ben E.

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Everything posted by Ben E.

  1. No plane of my own but a flexible job and a lot of frequent flyer miles and access to rental planes. I went to see one in Florida on a day's notice two weeks ago but it had too many undisclosed issues that needed to be fixed to justify the owner's lowest price (upwards of $20k in maintenance needs). I'm sure I'll find something I like in the next few months. Sent from my iPhone using Tapatalk
  2. Definitely seen it, and love it!
  3. Yeah that's what I'm thinking. I figure if I get the plane now then somehow my future wife won't be able to complain about it as much because she knew what she was getting into. That's probably wishful thinking.
  4. You may be right. That's probably why I'm in my mid thirties and still not married
  5. I figure all M20Js leak sooner or later, so I'd rather the previous owner have taken care of that already. Recent paint because I think 27 year old paint is on the older side and will need to be repainted soon. Recent engine overhaul because if the plane has been flown let's say 2500 hours and was flown regularly, then the engine overhaul would have had to been recent if the engine made it to TBO previously. These are all things that affect valuation the longer you neglect them. If I need to sell the plane in 10 years, the buyer will likely insist that I pay the $15k to repaint the 37 year old paint job, the $10k to reseal the 37 year old tanks, and the $30k to overhaul the engine that's 10-15 years past TBO (which I know is not a requirement but it does affect valuation). So I'd rather pay $15k more now than $55k later. Also, I just want a nicer plane and am willing to pay for it. Edit: I know my math is simplistic on that last point, but it's just to make the point that considering depreciation and the time value of money, I personally think it makes more sense to get more now rather than invest more later.
  6. There's been a lot of talk in the "selling aircraft" section lately about people looking for Mooneys that can't find one that fits their needs and/or budget. I just started looking again and have felt a similar frustration. Some people have commented that the market doesn't really pick up until closer to summer, which I hope is the case. I think for me it's that I'm a bit picky on what I want and that plane just hasn't hit the market while I've been looking. When the right plane comes around, I want to make sure I'm coming up with an accurate valuation. I'm willing to spend the money as long as it's a fair price. We have VREF, but I'm not sure how accurate that is and in any case, it doesn't take into account everything that affects valuation. With that in mind, I was hoping you guys could tell me how you would appraise the following hypothetical plane, which has the things I'm looking for: * 1990 M20J (or any of the early round window models with a gross weight of 2900lbs or eligible for the upgrade to 2900lbs) * total time less than 3000 hours and flown regularly * engine overhauled in the last 10 years with new cylinders by a reputable shop with less than 1000 hours SMOH and good compressions. Also, an engine that previously reached TBO (or pretty close to it) without needing a top overhaul or other major engine work. * two blade prop, overhauled in the last 10 years * functioning autopilot with altitude hold and approach coupling (I've test flown two planes that didn't have a properly functioning autopilot despite the owner's claims before I showed up) * resealed tanks or bladders * Garmin 430W or better * GPSS * everything in the plane works as intended * no outstanding airworthiness issues * no corrosion * no major nonairworthiness related maintenance needed * paint within the last 10 years or so and in good condition * leather interior in good condition * no major damage in the last 10 years, and if there has been any major damage, then properly repaired at a reputable shop and nothing more serious than a gear up landing and/or prop strike I'm curious what you guys think.
  7. That sounds reasonable. My dog is the same way but my paranoid side starts running through what ifs. I will probably try it someday. Sent from my iPhone using Tapatalk
  8. Beautiful dog. Do you ever worry about having her up front? I've only flown with ny dog once and wanted her up front but was concerned about the possibility of her interfering with the yoke or trying to climb on me on short final or some other inopportune time. Sent from my iPhone using Tapatalk
  9. As someone whose business includes financing pet accessory businesses, I can say that my clients' use of my firm's marketing money has paid off well. Most of the coats I have seen just cover part of the back and have a strap that holds it on. It seems to me that heat loss would be underneath the dog where the organs are. In any case, if your dog shivers without the coat then it sounds like a coat is the right move. Sent from my iPhone using Tapatalk
  10. I don't think the plane is literally worth $75k. The OP asked what would the value be as a runout and that's where I came up with $75k. That's conservative too. Maybe it's $85k as a runout. I don't have enough information to determine whether it's a runout and with regards to my own consideration of this plane in the recent past, I wasn't willing to spend the money to make that determination because it's cheaper to pursue a plane with less question marks. Those question marks make the valuation suspect to me. That's my own personal opinion and like I said, this may be a great plane at a standard reduction of the asking price. Sent from my iPhone using Tapatalk
  11. Not to mention, if the plane was worth that much then it wouldn't have been on the market so long. Sent from my iPhone using Tapatalk
  12. What do you think that plane with a runout engine would cost (which was the question)? All American's price isn't based on a runout engine. Also I assume All American expects that they won't get asking price, so I wouldn't take their price as their valuation. Lastly, planes are cheaper when you buy them from the owner without a middleman marking it up. Sent from my iPhone using Tapatalk
  13. I don't know much about blue book but I would personally expect to pay no more than $105k for that plane if it had a trouble free low time engine. Considering that an overhaul costs about $30k then I'd value the plane around $75k. Sent from my iPhone using Tapatalk
  14. Do you guys know how well the mutt muffs work? I have a lab and I was thinking about getting the mutt muffs, but I'm skeptical of whether they will actually be able to make a decent seal on a floppy ear dog. If not, then they're just a non functional fashion accessory like those "coats" I've seen on every lap dog in NYC this winter. The ones that just cover half of the dog's back and ignore the fact that the dog already has a coat.
  15. I was looking at that plane. On the surface it looks real nice. But if you take a look at the engine log, the engine has been pulled and dismantled something like 5 times since the last major overhaul. The crankshaft had a loose plug, there was a top overhaul, I believe there was a prop strike, and then one or two more events that weren't clear. When I see that I see a trouble engine. It may be perfectly fine, but it also may be ongoing expensive maintenance. I like to avoid that type of thing if possible.
  16. Congrats! I look forward to this moment, as soon as I can find the right one.
  17. Hi Guys: So I got to see N242HM in person today and take a flight. The good news is the black stuff coming out of the rivets under the wing wipes right off, so not filiform corrosion. Regarding the speed brakes and the screws around them--they didn't paint over the screws. That's some sort of sealant. I was able to scrap it off, revealing white paint. The biggest concern I have is that stuff on the edge of the rudder was not a paint touch up, it was an attempt to fix hanger rash. It looks like the plane hit something when it was being put into the hanger. I haven't found anything in the log books about this. How big of an issue do you think that is and how much would it cost to fix it to look undamaged? Also there are a few hairline cracks in the cowl cover that are a couple inches long. Regarding the wing spar, I have attached photos of that and you can see a video of it along with all my pics, videos, and the owner's pics. There some gunk in there, kind of reddish, and it sticks up over the surface of the spar. I was able to pick some of it off, revealing white paint underneath (see the video), but I don't know if that means that none of the other stuff is corrosion. I popped open the tail access panel and it looked real clean. I also opened an access panel under the left wing next to a servo. It looked good. I for some dumb reason did not think to open the engine cowling. I have a pic or two in the Dropbox I tried to take through the oil access lid. If you guys tell me that's not corrosion on the spar, and I can negotiate a good price then I will get a proper PPI and do it as a full annual. Any thoughts and wisdom you can impart on me would be much appreciated. Spar video: https://www.dropbox.com/s/qm96ayaxmo85ti0/Video Mar 05%2C 2 12 51 PM.mov?dl=0 All files: https://www.dropbox.com/sh/1esphzowq12maxf/AACZXioofA9WlMJ6jS8jMMn5a?dl=0 - Ben
  18. Phew! Ok I'm going to look over this bird with a fine toothed comb. Thanks Sent from my iPhone using Tapatalk
  19. The paint job was done by Hawk Aircraft Painting. Are you seeing even more filiform corrosion beyond that on the access panel photo I originally posted? Sent from my iPhone using Tapatalk
  20. I read the logs. They look great. No mention of corrosion. Better than the other 10+ sets of logs I've read. Regarding values, are you saying you think it's overpriced?
  21. Guys, I hope this is not too much to ask, but I was hoping you could comment on some of the issues in these pictures. It would be very helpful to me because of my inexperience with these things, and hopefully it can help other people too when they're looking at potential planes. Here are my questions by picture number: 1- what do you think the stain is on the top left of the photo and the crud on the aluminum strip on the bottom right 2 - is that rust or grease on the landing gear 3- what do you think the discoloration is? 4 - rust or grease? 5 - what is the discoloration around the screw heads? 6 - does the yellow streak left of and splotch right of the intercom jacks look like something serious? 7 - i can't tell if this is the same speed brake as before, but the same thing as before 8 - there are a few spots if you look closely. corrosion or nicks? 9 - rust, grease, or dirt? 10 - why do you think there is globs of stuff on the trailing edge of the rudder? 11 - why would the rivets be sunken in that deep?
  22. I'm going to take a close look when in person. Is this something I should be able to spot or could it be hidden under the 2013 paint job? Sent from my iPhone using Tapatalk
  23. Thanks for the help guys. I'm going to see the plane in person on Sunday and will report back.
  24. Thanks for the input guys. So this plane has been hangered all of its life, but since it has lived in SW Florida I still worry about corrosion. I plan to have that checked if I move forward. I don't really know what's normal and what's not, because I never owned a Mooney or any other plane. I was hoping you guys could give me your opinion on whether anything in these pics looks like corrosion.
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