nicorico Posted January 24, 2011 Report Posted January 24, 2011 Hello fellow pilots I am new member, and hope to be a Mooney owner soon... I am seeking advice to purchase a used Mooney, my budget is around 100k. Any suggestions will be greatly appreciated..after saving for many years, I am ready to purchase one now... Most of my flying will be Mountain flying and IFR.. So my goals are to have Turbo, wastegate, speed brakes, and some decent IFR gear.. Thanks in advance. Please feel free to e-mail at tonymapo@gmail.com Quote
nicorico Posted January 24, 2011 Author Report Posted January 24, 2011 Please feel free to e-mail at tonymapo@gmail.com Quote
Cruiser Posted January 24, 2011 Report Posted January 24, 2011 You are buying at one of the best times ever to get into a great airplane (Mooney) It is still a buyers market but some of the really low prices may carry substantial investment to finish deferred/neglected maintenance. Be careful and good luck. Which model are you looking to buy? Quote
nicorico Posted January 24, 2011 Author Report Posted January 24, 2011 Thanks Cruiser.. for your advice, if you know any good opportunities in the market please let me know.. Quote
N33GG Posted January 24, 2011 Report Posted January 24, 2011 In the market today (Buyer's Market Extreme), at $100K you will have a lot to choose from. My advice, whatever model or particulars you look at, TAKE YOUR TIME, AND DO NOT RUSH. There is no reason to be in a hurry in a Buyer's market. And boy oh boy, this is the best market for buyers I have seen in several decades. Don't buy the first good looking deal you find...there will be lots of good deals. The more you look, shop, study, and ask questions, the smarter you will be. The more you shop, the better you final choice will be. Just my 2 cents...with lots of personal experience behind it though. Good luck, and welcome. Quote
flyboy0681 Posted January 24, 2011 Report Posted January 24, 2011 You can send me a message as well at flyboy0681@gmail.com Quote
carusoam Posted January 24, 2011 Report Posted January 24, 2011 Tony, It is indeed a good time to be buying. However, you are going to need to describe your typical mission if you expect to get usable responses. There are a few models that cross the magical $100k boundary and there are several answers to your question. What do you use your plane for? How many people travel with you? Typical distance you expect to fly? Do you expect to fly IFR or are local VFR flights your only expectation? mountains of flats? etc..etc.. etc.. Best regards and welcome to the Mooney world..... -a- Quote
KSMooniac Posted January 25, 2011 Report Posted January 25, 2011 While it is a buyer's market, the "premium" planes will still sell quickly and at relatively premium prices. My advice is to figure out exactly what you want, and assign priorities or values to things like avionics, autopilot, cosmetics, engine times, etc. that important to *you* so that you can evaluate candidate airplanes intelligently. Be prepared to pounce quickly when you find the right plane! There are plenty of fixer-uppers or un-updated planes available for less money, so no need to hurry if you end up there and then pursue your own improvements post-purchase. There aren't a lot of fully-Garminized J or K models on the market at any given time, for example. Quote
Jeff_S Posted January 25, 2011 Report Posted January 25, 2011 All the advice above is general and good, so let me give you some concrete steps that may help you out in addition. 1. Go to the MAPA website (http://www.mooneypilots.com) and click on the Sample Articles tab. These are free to everyone and will give you some good reading to help evaluate different plane options and what prices should be. 2. Keep a running list of every desirable plane on Trade-a-Plane and Controller, and maybe ASO if you feel like it although there are a lot of duplicates there. You may never buy one of these, but it will help you understand the general value of each model, various features, etc. so when you do find a real prospect you have some negotiating knowledge. 3. The usual advice about pre-buys if you haven't already heard it. I have a somewhat controversial opinion here. Many Mooney owners say that if you don't have your pre-buy done by a Mooney Service Center you should have your head examined. There's nothing wrong with an MSC, except there are good MSCs and bad ones just like everything else. So I think it's the quality, integrity and trustworthiness of the inspector that really matters more. (Now let's see if the flames come out again.) 4. I have a spreadsheet I put together when I was evaluating J models. Send me a PM if you want me to mail it to you. It lets you put in the asking price of each plane, then add/subtract value based on installed avionics, condition of paint, etc. All these criteria and respective valuations came from the folks at All American Sales, who specialize in Mooneys, and using this spreadsheet I got my current plane (from a private seller) for exactly the amount they suggested it should go for. Hell, I could go on and on but this gives you a few things to get started with. Good luck! Quote
nicorico Posted January 26, 2011 Author Report Posted January 26, 2011 Hello Folks. I will prefer to buy a 231 LB engine any tips where to find a clean and well priced M20k/231 LB will be greatly appreciated.. Tony Quote
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