Hi Everyone,
I'm Nate, a student pilot going for my private about 26 hours in, and a prospective future Mooniac. I'm currently in the process of purchasing an M20F and was wondering if I could run this over with those experienced with Mooneys and flying in general; everything is all new for me!
I contemplated all makes and models from C172s to Arrows and considering that speed, efficiency, and good looks are at the top of my list, I decided that I must get a Mooney, probably an M20J I thought for its speed, style, and popularity. My goal is to finish my private pilot and go on to get my instrument rating.
I have been checking Trade-a-Plane, Controller, etc multiple times every day the past several months for the ideal aircraft for me and encountered the following 1969 M20F listed at $105,000:
http://www.trade-a-plane.com/search?category_level1=Single+Engine+Piston&make=MOONEY&model=M20F+EXEC+21&listing_id=2398664&s-type=aircraft
The airplane has all of the features I want in it: 201 mods and panel, Ovation-style paint, updated interior, electric gear, autopilot, decent avionics, IFR capable, among other things. The engine is nearing overhaul with a TTSN of 1875. I reviewed the logs and it looks like it has been flown regularly about 50-100 hours/year since the new engine was installed in 1996. It had good compressions every year up until the 2020 annual. After, it had all piston rings, intake manifold seals, and exhaust gaskets replaced and compressions were strong in the August 2021 annual.
I have offered full price as there has also been other interest in the airplane. However, as a part of due diligence, I would just like to make sure that the price I'd be paying is fair. What do you guys think? I will be putting the airplane through a thorough prebuy inspection including cylinder borescope.
Thanks!
