Greetings All,
New member here. I have seen that there is a wealth of knowledge on this forum and so I wanted to finally tap in. My aviation experience is CFI with 475TT and over 100 hours in Piper Arrows (Mooney>Arrow).
Anyways, I am looking at buying a 1977 M20J that is currently unairworthy for $45k. The price is negotiable. The aircraft is located in West Virginia. I am located out of Maryland and have actually seen the airplane in person. It hasn't flown since 2011 but the current owner started to do a lot to get it airworthy again before he lost the A&P that he was working with. The current owner replaced the tubes, tires, brakes, and rotors. He also swung the gear, checked the fuel tanks, replaced the prop, checked compressions, inspected the cam-shaft, and replaced the fuel caps.
The airplane has 2650TT and less than 500 hrs SMOH on the engine. Brand new prop. The paint is rough but maybe I could get it slightly touched up or power washed without having to go through an entire repainting process. I don't care if the paint is faded just don't want the evil black mold look on it. There is visible corrosion on the landing gear.
I looked on the main Mooney website and saw a few authorized Mooney shops within the MD/PA/VA areas. I was looking at Freeway Aviation in Bowie, Maryland. The current owner said the aircraft would probably have to be shipped to get it airworthy. So have to take the wings off and put on a truck. I'm not a super big fan of taking the wings off because I know that can lead to problems if they aren't properly disassembled and/or put back together.
Anyways, I guess I was wondering depending on what the A&P saw what type of money are we probably talking to get this plane airworthy? 30k? 40k? 50k? I guess I am wondering if it is worth the money to try to get it airworthy since most J's go for over 100k.
Here is the Trade-A-Plane link:
1977 MOONEY M20J 201 Single Engine Piston for sale - 2418992
Thanks!
