Tx_Aggie

1/2 interest in an F or 100% C, that is the question

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Buying an airplane never makes economic sense.  Its an emotional decision.  You buy an airplane because you want one, not because you need one.  That being said, there is nothing like sitting in the cockpit and knowing everything is the way you left it.  Doing what you want, when you want.  That's hard to do if you have to share......

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What does a PPI cost with a knowledgeable inspector run these days? Like what does Don Maxwell or someone similar run?

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PPI is really not clearly define as compared to a 100 hr/annual inspection. Depending upon the potential buyer's instructions it might involve far less that what Paul has in mind for $1500+. 

You might be only interested in getting an informed opinion of the health of the engine and the likelihood of spar corrosion. Or you might want to get a very thorough inspection to create a list of all discrepancies to use in price negotiation. 

I paid $220 for a 3 hour inspection 6 plus years ago. The low time engine had no metal in the filter and compressions were fine. There was no sign of corrosion in a plane that had been hangared. The log books were in order and everything in the panel seemed to be working.The seller's candor and generous attitude gave me a comfort level. I made him an offer at a discount from his ask citing issues that I had seen and possible items we no doubt missed and pointing out that he well might get his price if he waited - he had just put the plane on the market - but a bird in... I felt I'd rather spend money fixing my plane to my standards rather than inspecting what was still Mike's plane. He agreed. I did spend some money in repairs in the first first year but less than the discount he had accepted. 

YMMV   

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In full agreement with @Bob_Belville. My figures were a response to the question about what DMax charges and shops like his. 

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8 minutes ago, gsxrpilot said:

In full agreement with @Bob_Belville. My figures were a response to the question about what DMax charges and shops like his. 

Yup. and I suppose DMax or Clarence would do a limited scope PPI for an appropriate amount if that was the customer's request. I know @AGL Aviationwould.

But, I'm not speaking to the wisdom of any course of action, my point is the undefined nature of the term "PPI". 

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On 5/21/2018 at 10:12 AM, Marauder said:

For me, a partner would never work. I am too nit picky on maintenance and I fly too much that scheduling would be an issue.

Me either...too many D's to deal with in a partnership for me:  Divorce, disinterest, drugs, disease, default, disability (from D Ramsey).  Don't get me wrong, I'd love to split the fixed expenses of a plane with someone else.  I just don't think it would work for me-even just basing the plane would probably be a show stopper--3 locations in the 9 years I've had it.

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On 5/20/2018 at 3:12 PM, Tx_Aggie said:

I’m considering two potential options for ownership. With about $30-35k to spend on ownership, there are a handful of decent looking M20C’s on the market. I also currently fly with a friend who has a 1970 F model. Here’s what my finances allow for:

1) 100% ownership in a C model

or

2) possible 50% ownership in the F I’m currently flying. 

I flew a 1967 C for about 6 months to keep the plane running for a friend with multiple planes. It was a great gig until he sold it. I wasn’t in a position to buy otherwise I would have.  My thoughts are the following on both options. I’m an IR pilot with about 550 hours. My flights are mostly just me, some angel flights and occasionally my wife and I on weekend trips. 200-400 mile trips max, mostly across Texas. This is my first time to own an airplane. The downside to the partnership is I know this won’t be my last airplane - the C’s I have my eye on don’t have any gear up/damage history. While the F has had 3 in it’s lifetime, even though the last one was 22 years ago. The F is professionally maintained by a knowledgable Mooney mechanic. It doesn’t have an autopilot and has a VFR only gps while the C’s I’m looking at have either an Ifr equipped gps or decent autopilot. Having both is preferable to me as I fly into imc conditions especially on angel flights. What pros and cons of the options do you see? I like the extra room of the F, I’m 6’2” and I can’t fit in the back seat of the C, so my passengers in the back will have to be small, however it’s not very often that I need that extra space right now. If I bought a C, I’d eventually try to install the new garmin autopilot 500 or perhaps an STEC 55x or maybe 60-2, which ever will be cheaper. 

Also the planes I’ve seen on the market with multiple damage history reports largely don’t get sold. Not that I’m a sales pro, but I’ve followed the listings for the last few years while I rent, and there are planes that have continued to occupy listing space for years. I’d hate to buy into a plane that I couldn’t sell to move up and that’s what I think would happen with the F. Is that concern valid? Thanks for the opinions. 

Where are you located at Tx_Aggie?

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