I’ve been in the market for my first Mooney for a few months. Looking for a well maintained, mechanically sound -E or -F (would consider a -C) with WAAS and autopilot. Budget $55-75k.
Moved too slow on a few gems. But right now, it seems like the market is dry. A few around the $100k, which is absolutely out of my bracket, and a few in the $30-45k with very worn out interior/paint and vintage panels. Everything in the $55-75k range is under contract/pending or has some questionable mechanical / history issues.
So I’ll ask the question I sort of know the answer to: is it totally insane to find a well maintained but basic-and-not-pretty $30-45k bird, and do the upgrades myself? I know all the stats on ROI for avionics. But the thing is, with your own upgrades you get the aircraft you want. Lots of $55-75k birds have a few things already dated... so they may not be forever answers already and may need some investment themselves.
Question: would any MS’ers seriously consider buying a sound $30-45k plane and then paying for WAAS, PFD, and autopilot ... and can it be done for under an additional +35k (incl installation)?
(and if you did buy said bird, what would you do with the panel, for $35k or less incl installation?)
Maybe I’m crazy or frustrated by the missing middle in the M20E/F market right now.....