M20K 231 in Texas

[dtoelke]

Hey folks,

After a lot of thought and discussion with others, I've decided to put my 231 up for sale.  Unfortunately I'm at a point in my life where I can't fly enough to justify ownership.  It's been an absolute joy but I'll be glad to see it go to someone who can afford the time.

The details:

1979 Mooney M20K 231 - fresh annual (April 2017), 3128 TT, two total owners (I'm the 2nd), complete logs, and hangared in Southern California for its entire life until last October (now hangared at HYI near Austin, TX)

Airframe: Brand new fuel tank reseal by Houston Tank Specialists (Nov 2016), 2006 paint (factory colors), 2006 windows and windshield, wingtip and tail strobes, PreciseFlight speedbrakes

Engine: 405 hrs SMOH, 405 hrs SPOH, Turboplus intercooler, PreciseFlight standby vac system, installed new in 2015: turbo, GAMI's, Merlyn wastegate

Avionics: EDM830 w/fuel flow, Collins AMR 350 audio panel, TDR 950 transponder, (2) VHF 251 comms, (2) VIR 351 navs, Apollo GX55 GPS, Collins DME, Century 41 autopilot w/altitude hold, sigtronics 2pl intercom, electric trim

Extras: Custom sun shades, also will consider selling Stratus 2, RAM iPad mount, and two Bose headsets with the plane

The plane flies great and the engine monitor indications always read healthy.  Last two annuals were performed at a Mooney service center in Southern California.  I've attached pictures to this post (note: I took the pictures when I dropped the plane off for the annual, so it's a bit dirty and I am not a professional photographer by any measure!)

I'm asking $85,000.  If you are interested please contact All American Aircraft at (830) 261-4147.

Best,

-Don

N231BZ-vref.pdf

Edited June 15, 2017 by dtoelke

[kevinw]

After some avionics upgrading someone will have a great looking, low engine time cross country machine. New interior would finish it off. Can't imagine you'll sit on this airplane for long. Good luck with the sale.

[STODDALINO]

On ‎3‎/‎13‎/‎2017 at 8:57 AM, kevinw said:

After some avionics upgrading someone will have a great looking, low engine time cross country machine. New interior would finish it off. Can't imagine you'll sit on this airplane for long. Good luck with the sale.

I AM INTERESTED.  25 YEAR+ MOONEY DRIVER.  TODD R. STODDARD  EMAIL:  STODDALINO@GMAIL.COM  PHONE:  310-567-1450

THX

[Mcstealth]

6 hours ago, STODDALINO said:

I AM INTERESTED.  25 YEAR+ MOONEY DRIVER.  TODD R. STODDARD  EMAIL:  STODDALINO@GMAIL.COM  PHONE:  310-567-1450

THX

Welcome to the forum. Please post a "hello" on the general board and tell us about yourself. Thanks for finding us here at Mooneyspace.

Mcstealth

[M20FanJesse]

This was my grandfathers plane! I wish I could buy it! Is the new owner on here?

[carusoam]

Contact Don directly.  He is the OP. His contact info is in the original post.

Best regards,

-a-

[dtoelke]

Aircraft is now being sold by All American Aircraft.  Asking price is $85,000.

[carusoam]

dto's. Plane at AAA....   

https://www.controller.com/listings/aircraft/for-sale/19508001/1979-mooney-m20k-231?dlr=1&pcid=17527&if=1

Best regards,

-a-

Edited June 15, 2017 by carusoam

[pwnel]

Hello all,

First post for me here.  I'm in the market for a good M20J because it seems to be the best deal from everything I read here.  But even though I'm East Coast based for now, I work in tech and it's entirely likely that I would shift base to San Francisco at some point.  I wouldn't want to change planes if that happens.  This will be a leisure machine for weekend getaways.  From New York I would want to reach the Bahamas.  From West Coast I would want to get to places like Utah, Colorado for climbing/skiing.  It would be nice to fit 4 adults, even if that means more frequent fuel stops.

This plane looks like such a great deal, I'm surprised it hasn't moved.  I'm also worried about that as I would want to offload an asset like this in a reasonable amount of time myself in case I want to upgrade/downgrade.  I believe the market for K's is quite soft?

How should I think about this?  Go for a J, or shop for a good K like this.  (I like the low engine time - the panel I'll upgrade - even though I know I would get 50c max on the $ for what could be a 40 to 50 AMU upgrade if I ever let it go.

Thx

[dtoelke]

Almost was sold two months ago.  One of the two partners buying the plane backed out after the pre-buy for unrelated reasons :/.

I spent a lot of time flying the plane around California and was glad to have the turbo, but it's also a matter of personal preference.

Re: the market, as I understand it's not so bad trying to sell a K, but selling one (or any plane for that matter) without a modern panel can be pretty tough.

[bcwiseguy]

8 hours ago, dtoelke said:

Almost was sold two months ago.  One of the two partners buying the plane backed out after the pre-buy for unrelated reasons :/.

I spent a lot of time flying the plane around California and was glad to have the turbo, but it's also a matter of personal preference.

Re: the market, as I understand it's not so bad trying to sell a K, but selling one (or any plane for that matter) without a modern panel can be pretty tough.

I am starting to look at the Turbo Mooney's that are available but won't be ready to buy until end of summer or so. I was out at All American Aircraft a week ago and looked at many of the Mooneys that are there. Your 231 looks nice. I completely understand about trying to sell without a modern panel. With the cost of avionics, it is difficult to justify buying an airplane and having to shell out thousands of dollars on top of the down payment required to purchase the aircraft. I too am looking at aircraft that at least have one fairly modern GPS/Com/Nav and ideally a 2020 compliant ADS-B. In a perfect world, I would find an aircraft I could customize to my liking but that is a very costly proposition.

[dtoelke]

Exactly.  Which is why we ended up recently lowering the price.  That way, the buyer can upgrade the panel and total cost be the same or less than a pre-outfitted Mooney, plus the perks of getting to choose the layout yourself.

[larryb]

It is nice to say buy a fully upgraded plane. Perfect paint interior engine and upgraded panel. Let the seller take the hit. Good luck with that one. I don’t think that plane exists. Or if it does it is sold to a buddy and never hits controller. So the rest of us, those without a buddy who created our perfect plane, we are left to create our own. The panel is the most personal piece. We all have a different view of the perfect panel. So I think it makes a lot of sense to buy a good airframe and put the panel you want in it.

 

[dtoelke]

I wish everyone thought that way haha!  Unfortunately a lot of buyers don't want to deal with the installation themselves and would prefer to purchase pre-configured.  This sentiment by itself is understandable but I do think the market overweights the value avionics upgrades, and underweights core conditional items (which are far more important for cost of ownership).  There are a lot of planes out there in fair to poor condition otherwise that get valued higher because of the avionics.  IMO it's kinda like putting a bow tie on a bag of poop, but I'm not the buyer .

[pwnel]

I honestly thought buyers would be a little bit more sophisticated but thanks for clarifying.  

Still looks like a great deal. Though I may still go for a J as my first Mooney. What I'd do with this one (and any plane) is not to over-capitalize.  2x G5, GTN 750, GTR 225 and have the panel and wiring ready for the GFC500 A/P once the STC is done. For most Mooneys I would fly it as-is and wait for the GFC500 before I even start on the panel.  Having done my IR in a GFC700 plane that A/P is a killer feature for me and a great reason to look for a plane that hasn't been upgraded with stuff that won't work with it (like Aspen 1000s) but that are included in the Vref price.

[Bryan]

On 2/12/2018 at 10:55 AM, dtoelke said:

I wish everyone thought that way haha!  Unfortunately a lot of buyers don't want to deal with the installation themselves and would prefer to purchase pre-configured.  This sentiment by itself is understandable but I do think the market overweights the value avionics upgrades, and underweights core conditional items (which are far more important for cost of ownership).  There are a lot of planes out there in fair to poor condition otherwise that get valued higher because of the avionics.  IMO it's kinda like putting a bow tie on a bag of poop, but I'm not the buyer .

Jimmy has a great avionics installer right across the way.  If you find a buyer that wants GTX this and GTN that add that into the price to make the sale.  But, make the buyer pay for the avionics up-front.  This is what I did a year ago in buying my 231, from Jimmy.

[dtoelke]

I believe that is how he is pitching it now

[bcwiseguy]

48 minutes ago, Bryan said:

Jimmy has a great avionics installer right across the way.  If you find a buyer that wants GTX this and GTN that add that into the price to make the sale.  But, make the buyer pay for the avionics up-front.  This is what I did a year ago in buying my 231, from Jimmy.

I haven't bought an aircraft in a long time. Is it possible to get a loan that would include the upgrade or would I have to get a loan for the aircraft and then pay for the avionics? If lenders allow for upgrades as part of the purchase (e.g. engine overhaul, avionics) then it makes purchasing a much easier proposition for buyers like me. After all, if I'm purchasing a $150k aircraft (or whatever the cost) having to come up with what amounts to 50% of the total cost (as opposed to just the 15% down payment for the loan) becomes cost prohibitive. 

[dtoelke]

Just now, bcwiseguy said:

I haven't bought an aircraft in a long time. Is it possible to get a loan that would include the upgrade or would I have to get a loan for the aircraft and then pay for the avionics? If lenders allow for upgrades as part of the purchase (e.g. engine overhaul, avionics) then it makes purchasing a much easier proposition for buyers like me. After all, if I'm purchasing a $150k aircraft (or whatever the cost) having to come up with what amounts to 50% of the total cost (as opposed to just the 15% down payment for the loan) becomes cost prohibitive. 

Yes, I believe most of them do.  The company I used for my loan (US Aircraft Finance) offered financing for immediate upgrades when I bought mine.

[bcwiseguy]

7 minutes ago, dtoelke said:

Yes, I believe most of them do.  The company I used for my loan (US Aircraft Finance) offered financing for immediate upgrades when I bought mine.

That's  excellent news then. I was under the impression that upgrades had to be paid out of pocket....that finance companies would not include them in a loan.

Being able to include upgrades in a loan makes it so much easier for everyone....buyer AND seller.

[Bryan]

Yes, that was not an issue for my lender assuming the upgrades you do are worth the overall value against what you are borrowing against (finalized airframe and equipment).  I used a down-payment for the avionics purchase to ensure the seller I was serious.  He basically sold me the plane (airframe) + (cost of upgrades) and we were both happy.  I think my lender required a current picture of the panel (old avionics) and then a new one after but it was nothing and would do again in the future.

[Richard Knapp]

Hi, I’m potentially interested. Does it have GPS? Speed brakes, O2?

[RLCarter]

16 minutes ago, Richard Knapp said:

Hi, I’m potentially interested. Does it have GPS? Speed brakes, O2?

Was posted 2 yrs ago, might want to pm the seller and see if it still on the market

[Brian E.]

Holy necro post----was surprised to see  this beautiful aircraft pop up for sale.  Looks like this plane in in Madison MS now. 

 

Good luck with the search.  Check out AAA.  They have a 231 for sale with great paint but needs a panel and interior.  https://www.controller.com/listings/aircraft/for-sale/31466369/1980-mooney-m20k-231?dlr=1&pcid=17527&crmid=614667&if=1

[Dan208]

If I could finance a purchase I would be very interested.  Beautiful airplane,  I love the colors .