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Mooney Partnership Near Houston, TX?


fire11

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I'm a life-long Mooney fan but can't justify my own.  I'd love to find a partnership in a nice Mooney near Houston, KIWS would be preferred.  I'd prefer a 201, 231 or even a 252 but am open to the older models.  My family is small so I could get excited about a short-body C or E but need a decent IFR-capable bird.  I considered the Rocket in Austin but can't justify it that far away.  I'm tired of renting old Cessnas and Cherokees, anyone have a lead to share?

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A 50% partnership on a 201 or more would be about the same cost as a nice E or F obviously you would be baring all the usual ownership costs by yourself but as the speed goes up so do the costs so it might be about the same over time. Just a thought.

Good luck to ya.

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Thank you, bonal…I totally agree.  While I'd prefer having my bird all to myself, having 100% of the usual ownership costs would mean I couldn't fly it as much for the same total expense.  Ramps are full of planes owned by people who underestimated the total cost of ownership and they tend to neglect maintenance and deteriorate quickly in to Houston's sun, rain and wind.  While I'd prefer not to share, I'd rather fly than drive to visit family in LR, KC and OKC.  Rental Cessnas and Cherokees were never very fast but they're still pretty expensive and not nearly as exciting as Mooneys.  I'm hoping to find a good partnership until I'm confident I either need my ship's undivided attention or am confident I can maintain it the way so many so many of you do on this forum.  I like to think that sharing the upkeep is a great way to take care of your bird!

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I was planning the same thing, to buy into a partnership.  But I must say, I'm very happy to have the plane all to myself.  It's a 50 year old M20C, but it's all mine.  And surprisingly affordable.  Find the right ship, get a good pre-buy inspection by a good shop (Maxwell's) and you'll be able to keep it affordable.

 

We just did an 1130 nm round trip this weekend.  http://mooneyspace.com/topic/12915-abq-recommendations/

 

What a great machine.

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I was planning the same thing, to buy into a partnership.  But I must say, I'm very happy to have the plane all to myself.  It's a 50 year old M20C, but it's all mine.  And surprisingly affordable.  

What a great machine.

Agree....I rather have a smaller/slower plane all to myself rather than have to ask for permission to fly a larger/faster one.

M20c is great for me,,,no partner and fast enough.  

When its all yours and less expensive you will look forward to flying,,,not the other situations others have gotten into.....,,,concider a C model

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I am in the same boat. E and F seem to be far more cost effective than a J as they tend to run 10s of thousands cheaper than a J.....but I'm open to discuss. I don't think I can swing even half the price of the average K+ though.

Ideally I'd like to have something in the ballpark of a 430 in the panel....or plans to add one.

Shoot me a message if you wanna discuss this further.

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http://www.controller.com/listingsdetail/aircraft-for-sale/MOONEY-M20R-OVATION2-DX/2004-MOONEY-M20R-OVATION2-DX/1292416.htm

Up to a few weeks ago, this was listed as a partnership opening.  1/4 share and Ovations are SWEET! :-)

 

I'd suggest following up with that.

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http://www.controller.com/listingsdetail/aircraft-for-sale/MOONEY-M20R-OVATION2-DX/2004-MOONEY-M20R-OVATION2-DX/1292416.htm

Up to a few weeks ago, this was listed as a partnership opening.  1/4 share and Ovations are SWEET! :-)

 

I'd suggest following up with that.

Great,,,,now you just have to ask "permission" from 3 partners if you want to fly....and don't dare to ask to take it for nearly a week.  Expensive 100 dollar hamburger...

 

Aslo better hope the Wx and all the mx is going well for you that one day you may be able to have it.....

 

The best part about having a plane to yourself is you know who flew it last and what may be wrong with it....

 

4 partners may as well be a rental......

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You guys make interesting points.  Ovations are sweet and the one dimondan shows would be beautiful but…I'm beginning to realize that I don't really like to share.  Gsxrpilot, my wife and I loved your article about a trip to Albuquerque.  We love ABQ and dream of weekend trips there.  Your story got her excited about my hobby, thank you!  

 

We're very practical people and concerned about the cost but it's not all about money.  A reasonably cared-for Mooney is a $10k/year proposition no matter how you slice it.  Yes, arguing my earlier point, partnerships make it more affordable but how many partners get to take it home for Christmas?  I can't imagine having $30k and a monthly payment tied up in something I can't use because one of the partners has scheduled some pattern work.  It's hard for me to imagine but we're now looking at Cs, Es and Fs again.  There's a beautiful B at IWS but I'm afraid the reduced useful load might be a problem.  I know you're not going to put 4 people in a short-body Mooney for long but I'd like to know I could take Houston visitors around to see the sights for an hour.  Ahhh, decisions!  Thanks for all the insights!

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Before I purchase my first plane 4 years ago I wanted to get into a partnership but it seemed like herding cats.  I ended up buy my own and had a couple of friends who we had an agreement to fly  the plane.  It worked well but over time their flight time has dwindled and only one flies it occasionally.  This has worked out fine for me because whenever someone else had it I was on pins and needles until they returned.

 

good luck.

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http://www.controller.com/listingsdetail/aircraft-for-sale/MOONEY-M20R-OVATION2-DX/2004-MOONEY-M20R-OVATION2-DX/1292416.htm

Up to a few weeks ago, this was listed as a partnership opening.  1/4 share and Ovations are SWEET! :-)

 

I'd suggest following up with that.

 

Assuming the 139 SMOH is also the TTAF, that's an average of 14 hours per year on the engine since it was new...while sitting in a humid costal environment.  I'm not a mechanic, but that would worry me.  I would have to work out a 1 year lease or a large holdback on the purchase price to make sure I wasn't hit with a large engine overhaul.

 

Unfortunately it doesn't have the Midwest STC for the 310 HP engine.

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So I've listened carefully to the point many of you have made and am giving closer consideration to my own M20C.  Would anyone publicly or privately (PM) share what you're paying for insurance and annuals on a manual gear C?  I know it's hull-value dependent but don't know what's "reasonable" for rates.  I don't yet have my instrument but I've got 550 TT, lots of 182 and 205 time and about 10 in complex with no losses so I should be easily insurable and would get my instrument soon.  I'd get a good pre-buy to check ADs, corrosion and etc. but any other concerns?

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1, 2 or 3...

Close to one AMU if you have been flying a Mooney for years with an IR, are current and get regular training...

Close to two AMU if you don't have an IR.

Close to three if you don't have Mooney experience and don't have an IR.

These things seem to be more important than the value of the plane itself.

The bummer with these prices is that you contract for a full year, you get plenty of exercise in your Mooney including an IR, but you don't get a discount or discount pricing until you contract the next year.

Get trained, stay current, get rewarded with the smallest insurance bills...

Best regards,

-a-

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So I've listened carefully to the point many of you have made and am giving closer consideration to my own M20C.  Would anyone publicly or privately (PM) share what you're paying for insurance and annuals on a manual gear C?  I know it's hull-value dependent but don't know what's "reasonable" for rates.  I don't yet have my instrument but I've got 550 TT, lots of 182 and 205 time and about 10 in complex with no losses so I should be easily insurable and would get my instrument soon.  I'd get a good pre-buy to check ADs, corrosion and etc. but any other concerns?

 

You're insurable.  If I got insurance with 80 hrs TT you will be able to find a company to insure you. I wasn't able to complete my IFR in the first year and I did find that there were a few carriers that wouldn't quote insurance without an instrument rating, even with 100 hrs in type.

 

If my very limited experience with my J is any indication, I would budget ~$2K for the first year and expect it to come down in year 2 with more complex experience and your instrument rating.  If that sounds reasonable I would reach out to a broker and they can give you a quote based on a generic make, model, and hull value.

 

Good luck beginning your search!

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  • 2 weeks later...

When I bought my C I was 300 hours TT, 20 hours complex, IFR (but wasn't current), 0 Mooney time.  I was quoted $1500 +/- $100 by almost everyone.  Of course everyone needed justification for the $60K hull value I was requesting.  A picture of the panel and equipment list was enough to satisfy that.

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  • 2 weeks later...

So I've listened carefully to the point many of you have made and am giving closer consideration to my own M20C. Would anyone publicly or privately (PM) share what you're paying for insurance and annuals on a manual gear C? I know it's hull-value dependent but don't know what's "reasonable" for rates. I don't yet have my instrument but I've got 550 TT, lots of 182 and 205 time and about 10 in complex with no losses so I should be easily insurable and would get my instrument soon. I'd get a good pre-buy to check ADs, corrosion and etc. but any other concerns?

Your insurance premium should be less than $1500/year, unless your M20C is extremely high on hull value.

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I have had my C for a little over 2 years now and hopefully all the big maintanence issues have been solved but it's a 50 year old airplane so I know that is wishful thinking. That being said as sole owner I control every thing that happens with my C having a partner or partners adds more factors that are out of your control reliability now becomes a human factor as well. For the first 2 years I had liability only I just added hull coverage at 35k (about all I could get if I were to sell) and am only paying 900 a year with AOPA I'm not IFR and am a little under 500 TT. Having a partner would add problems so I bought the best airplane I could afford and have no regrets.

It's a great cross country machine. Let's see

Trip to Missoula MT by commercial air. 2hr drive to airport 1 to 2 hrs to departure a little over 1hr to Seattle transfer to Dash 8 1hr. flight to Missoula 40min around 5 to 6 hrs TT

Same trip in our C 15min to airport 15min to departure 4.5hrs flight time 30min fuel stop TT 5.5hrs

Flying my own airplane "priceless"

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I just put an ad out selling a half partnership in my C model. We will see how that goes and I will report back. Even an inexpensive C can cost a lot so it makes sense to have a partner but I am treating it like a roommate so it has to be someone I can live with.

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  • 2 years later...
On ‎10‎/‎4‎/‎2014 at 1:17 PM, fire11 said:

I'm a life-long Mooney fan but can't justify my own.  I'd love to find a partnership in a nice Mooney near Houston, KIWS would be preferred.  I'd prefer a 201, 231 or even a 252 but am open to the older models.  My family is small so I could get excited about a short-body C or E but need a decent IFR-capable bird.  I considered the Rocket in Austin but can't justify it that far away.  I'm tired of renting old Cessnas and Cherokees, anyone have a lead to share?

I would be open to considering a partnership though I do not own at this time.  KIWS would work fine with me.

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On February 25, 2017 at 10:40 AM, ckugs86 said:

I would be open to considering a partnership though I do not own at this time.  KIWS would work fine with me.

Welcome to the forum. Please take a moment to introduce yourself to the group. Pleas go to the main page and say hi.  

Thanks for Joining.

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