Appalachia

Spoke to Dave at Airmods NJ today and got a very good impression. Thank you all for the recommendation

https://www.trade-a-plane.com/search?category_level1=Single+Engine+Piston&make=MOONEY&model=M20C&listing_id=2408614&s-type=aircraft Since there are so many of you local, here's the listing I'm currently considering. I figure I feel a little safer getting a nearly TBO'd engine as a known quantity that I can prepare to overhaul in the next couple of years vs unknown mid-time engines

WHoops! I meant to put ISP there :p Appreciate the advice and well wishes all. I will call Airmods and see if they have some time soon to go do a prebuy with me soon. I'm excited to fly Mooney!

Hello, I'm considering buying a local M20C and Avemco has asked that I get 10 hours dual before I solo. I fly out of KFRG but could commute easily to HPN, LDJ, and HPN. I don't have my instrument ticket yet and it would be nice to find someone on a long-term basis to help me get the ticket in my own Mooney. Some questions though: This 1975 aircraft is missing logbooks from before 1983 and it had a gear up in 1980. Is this a deal breaker? How could I mitigate risk with the prebuy? How friendly are m20s for shorter pilots? I'm 5'6 and sometimes struggle to see over the nose in some Archers I'm looking in earnest and considering other m20s as they pop up near me but trying to focus on aircraft that I can get to easily in a short hop because the prebuy cycle seems very intimidating when I have to take a commercial flight to get there

Thanks all I don't intend on buying a Cherokee but thought it would be a good comparison as I think of it as one of the cheapest 3/4 seaters to buy and own. My heart is pretty set on a Mooney at this point. This is good to hear. I recently paid off a student loan that was costing me 10AMU a year. I will feel much better about paying similar for something that makes me much happier. Current difficulty is finding a Long Island flight school with complex aircraft for the endorsement. I'm guessing the insurance premiums no longer make sense for flight schools to keep retracts in stock

Well I might get laughed out of the room on this one but here is a very optimistic excel doc I put together. Using a Cherokee and two rental Cessnas as a comparison. Aircraft rent vs ownership.xlsx

@dzeleski that is encouraging! Thank you for the very relevant advice. And thanks everyone else as well. You have given me a lot to think about

Thank you all for the sage advice! @carusoam you are correct, I have edited my post... To color my financial situation a bit more, the only expenses I currently have are rent, food, and a cat. I think I am naturally risk averse but echoing the sentiment of some of your comments... I think I would regret it if I didn't chase the dream

Ah good point on parking. Unfortunately, hangers here are probably out of my reach. I have called some local FBOs and have been quoted on tie down spots for around 150 a month. I do feel bad about parking a Mooney in the elements but I don’t know if I’ll be able to find an alternative. As for partnership, I will keep my eyes peeled. Learning to take care of an aircraft with a more experienced pilot seems ideal.

Hi I’m a very newly minted pilot (70 hours, all in small cessnas, no complex or high perf time). I’ve done some very rudimentary math and I believe that buying my first aircraft might make a tiny bit of sense. I’m 28, I make a decent engineering salary, no debts, and I live in the Queens borough of NY. Rental rates around here are nuts and my mission doesn’t really work with rentals (160 wet for c172s). I want to be able to visit my family in rural Virginia often and whenever I want. I’ve been combing TAP for months to try and wrap my head around the market for used aircraft. I’ve become attracted to the value of Mooney m20s and how well they fit my mission. So firstly, am I delusional for thinking I can afford a flying machine? If not, is a 70 AMU loan an acceptable amount of financing for looking into an old, respectable, m20? Can low rates be found for a loan of that size? I asked AOPA and they offered 6% and I felt that was a little high for the current market but that might be par for the course for something that small. Is there anything I should start doing now to prepare myself for owning an aircraft or a Mooney? What would you do differently in my situation? I’m young and dumb and asking for the benefit of your experience. Regardless, thanks for creating such a great community here at Mooneyspace. I’ve learned so much from lurking and reading here this past year.