My goal has always been to get my license and own a plane. When I was 17 i embarked on my mission to become a pilot. As the story so often goes, i ran out of money just before I finished(I'd passed the written, had my solo x-countries done and was mostly just the check ride away). I got laid off and had to discontinue my dreams. 35 years later, I'm ready to finish. I'd like to finish. My medical is in deferment but I'm hoping the powers that be will see that I've worked hard to overcome the mistakes. i have a cfi at the ready and have been brushing up on ground schools to make sure I'm solid when i get back in the skies.
I think the kind of flying i want to eventually do (x-country travel, explore new areas of the country when I retire soon, maybe take my family along when I'm proficient enough to have them join me) and my current financial situation seems to lead me to a legacy mooney. I always thought they were so damn cool. I've sat on the sideline for probably too long and watched prices skyrocket. I know there's a lot to aircraft ownership, I'm not well off but I've saved a bit and think I could handle 50-85k, hangar fees, insurance (prob a load here in a retract for a zero-time guy but hoping to get some hours in and maybe get IFR to keep that from beating me up) and annuals as long as they aren't too bad. I've been thru trade-a-plane, controller, barnstormer, social media and I think I may be able to make some of the cheaper ones work with my budget but am terrified of getting in over my head..."there's nothing more expensive than a cheap plane", I've heard. I'm also afraid if prices continue to climb it will easily price me out of my dreams. So, long story even longer, I've been looking into getting something on the cheaper side (VFR capable low time m20c with aestetic issues or even something run out for 40kish that i could get and know an overhaul is coming) and finish my training in it and hopefully it's my trainer, time builder and forever plane.
Am I crackers? is my cart too far in front of my horse or is this at all doable?
thanks in advance for any constructive criticism.