Considering M20C stored in hangar/garage in Nevada

[M20 Ogler]

A friend of my father is selling his 66 M20C after 38 years of owning it. Here’s the specs.

1966 TURBO MOONEY M20C, Rajay, Manual wastegate, 2484 TT, 1346 SMOH, 280 SPOH, 41 STOH including all new Millennium Piston/Cylinder Assys, Slick Mags.  King KX 155 Navcom with KI 209 Glideslope, King KX 170B Navcom with KI 201 VOR, King KT 76A Mode C Transponder with ACK A-30 Encoder, King KMA 12B Audio Panel with Marker Beacon, Flightcom 403mc Intercom, 4 Probe EGT, Recent 1 Piece ¼" Windshield & Windows, Sky-Tec starter, SST Cleveland brakes, All Logs since new, All manuals, Well cared for by one owner for last 25+ years, Hangared at Farias Wheel Airpark (NV33, 30 SE of Carson City NV), $40,000

It’s been out of annual for 12 years now, but the owner has taken precautions to preserve the plane. It’s been stored at his house in his hangar/garage in Nevada and the engine protected by putting a 40 watt heater in the engine compartment and blanketing the engine compartment. Also says he stores all the pistons at the mid barrel position. Does this sound like the proper way to preserve a plane that is not being flown? The plane looks spotless and appears showroom quality as does his light sport he flys now. The man appears to be meticulous about caring for his planes. I understand getting it to pass annual will take lots of effort and $$. Also upgrading avionics in the future will take even more $$$. But it appears like it may be a beautiful solid Mooney with potential. Picture of the plane  he emailed me.

 

[gsxrpilot]

It is Nevada where gambling is legal. 

If we assume it's pristine in every possible way, but with an updated panel (WAAS, Autopilot, ADSB, Engine monitor) and a known good engine (regularly flown and somewhere between 500 and 1000 SMOH), it would be worth $60K. But to get there it needs $40K in avionics and an engine at $25K. So if you got the plane for free you'd only be $5K upside down.

Or, never mind the avionics. Just fly it they way they delivered it from the factory 53 years ago. So then, with a fresh engine, it might fetch $40K although probably closer to $30K. But to get there it needs an engine at about $25K. So buy it for $15K because at $40K you might as well be laying that $25K on black at the roulette table.

IMHO "Out of annual for 12 years" and "Well cared for by owner last 25 years" are contradictions.

[M20 Ogler]

Thanks for taking the time to share your thoughts gsxrpilot. What do you think of something like this M20E on controller?

https://www.controller.com/listings/aircraft/for-sale/29502323/1966-mooney-m20e-super-21?dlr=1&pcid=17527&crmid=614667&if=1

If this M20E wasn’t half way across the country from me I’d be getting more  excited. 

[DXB]

Admittedly we love to lowball planes on Mooneyspace.  But asking 40k for a C model with basic avionics that hasn't flown in 12 years is bonkers.  

That E model offers you much more bang for your buck.  Going out of your way if needed to get a good plane is worth it. 

[Jim Peace]

More pictures. And having restored a flying C myself I can tell you this, make sure you get the plane for almost nothing. Otherwise move on. 

[gsxrpilot]

41 minutes ago, M20 Ogler said:

Thanks for taking the time to share your thoughts gsxrpilot. What do you think of something like this M20E on controller?

https://www.controller.com/listings/aircraft/for-sale/29502323/1966-mooney-m20e-super-21?dlr=1&pcid=17527&crmid=614667&if=1

If this M20E wasn’t half way across the country from me I’d be getting more  excited. 

Sent you a PM.

[Jim Peace]

2 hours ago, gsxrpilot said:

IMHO "Out of annual for 12 years" and "Well cared for by owner last 25 years" are contradictions.

This

[Mooney-Mark]

Go after the E. You'll be much happier and flying a great airplane right away! You'll be tied up restoring the C for the next year!

[NJMac]

Thanks for taking the time to share your thoughts gsxrpilot. What do you think of something like this M20E on controller?
https://www.controller.com/listings/aircraft/for-sale/29502323/1966-mooney-m20e-super-21?dlr=1&pcid=17527&crmid=614667&if=1
If this M20E wasn’t half way across the country from me I’d be getting more  excited. 

That's a great deal. Can't speak to the plane itself but it's priced very fairly for what that poor owner has into it.

Sent from my SM-G930V using Tapatalk

[Guest]

7 hours ago, M20 Ogler said:

Thanks for taking the time to share your thoughts gsxrpilot. What do you think of something like this M20E on controller?

https://www.controller.com/listings/aircraft/for-sale/29502323/1966-mooney-m20e-super-21?dlr=1&pcid=17527&crmid=614667&if=1

If this M20E wasn’t half way across the country from me I’d be getting more  excited. 

Half way across the country is not really a long flight in this plane.  You’re buying from one of the most experienced Mooney sales companies and it’s in Texas.  You’re in the Mooney homeland with lots of choices for a PPI and many MS’rs who could take a look for you.

Clarence

[steingar]

I live in Ohio and bought my aircraft in Georgia.  It can be done.  That said, Mooney made lots and lots of M20cs's.  They're out there.  You don't have to buy a questionable hangar queen.  All I can say is I'd like some of what that seller is smoking.

[Yetti]

It's defiantly an original....  Sticker is missing off the prop. At least $3000 to reseal the prop. $9000 to replace.

[N201MKTurbo]

33 minutes ago, Yetti said:

It's defiantly an original....  Sticker is missing off the prop. At least $3000 to reseal the prop. $9000 to replace.

You can get a prop resealed for a lot less than $3000. If they find anything that needs replacing the price can easily shoot through the $3000 mark.

When I bought my first Mooney I could get my prop overhauled for $750. It crept up to about $1200 about 15 years ago. it almost overnight tippled!!! I wonder what happened? I think it was the demise of the mom and pop prop shops. All that are left are the big time repair stations.

[Yetti]

1 hour ago, N201MKTurbo said:

You can get a prop resealed for a lot less than $3000. If they find anything that needs replacing the price can easily shoot through the $3000 mark.

When I bought my first Mooney I could get my prop overhauled for $750. It crept up to about $1200 about 15 years ago. it almost overnight tippled!!! I wonder what happened? I think it was the demise of the mom and pop prop shops. All that are left are the big time repair stations.

I think my point was.... it is old enough that they will have to bead blast and some of the parts have to be replaced.   Maybe expect to see a $3000 bill if not more.

[N201MKTurbo]

7 minutes ago, Yetti said:

I think my point was.... it is old enough that they will have to bead blast and some of the parts have to be replaced.   Maybe expect to see a $3000 bill if not more.

It was stored inside in a relatively dry climate. It is probably fine.

[Prior owner]

That is not the way to preserve a lycoming engine...and it kills me every time I encounter yet another plane that sat for years but nobody bothered to preserve it properly. Especially when they had a hangar for it..makes no sense. It’s simple, easy and relatively cheap to properly preserve an engine- so just do it! 

[Dave Morris]

I just bought a C model that had sat in Las Vegas for 6 years unflown. It needed all new rubber and a new engine OH, despite still having several hundred hours left before MOH.

[M20 Ogler]

6 hours ago, Yetti said:

It's defiantly an original....  Sticker is missing off the prop. At least $3000 to reseal the prop. $9000 to replace.

Can you elaborate a about the sticker? What am I looking for? Thanks 

[M20 Ogler]

22 minutes ago, PilotCoyote said:

That is not the way to preserve a lycoming engine...and it kills me every time I encounter yet another plane that sat for years but nobody bothered to preserve it properly. Especially when they had a hangar for it..makes no sense. It’s simple, easy and relatively cheap to properly preserve an engine- so just do it! 

Is there a Lycoming document that describes how to preserve the engine? I think I found one after googling once but can’t seem to now. 

[Igor_U]

27 minutes ago, Dave Morris said:

I just bought a C model that had sat in Las Vegas for 6 years unflown. It needed all new rubber and a new engine OH, despite still having several hundred hours left before MOH.

Hay Dave,

I see you are the C owner now. Did you sell your sweet A model? Why?

I remember that as a really nice Mooney. Good luck.

[Guest]

39 minutes ago, M20 Ogler said:

Is there a Lycoming document that describes how to preserve the engine? I think I found one after googling once but can’t seem to now. 

Lycoming Service letter L180 covers this.

http://www.reiffpreheat.com/Lycoming SL180B.pdf