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Were you nervous before closing on your mooney?

Austintatious

By Austintatious
in General Mooney Talk

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Austintatious Experienced

Austintatious

Posted
Posted (edited)

I am getting real close to purchasing a Mooney rocket. So many things to consider.  I am excited to get my hands  on it but there is always that little voice in the back of the head making me overthink everything and wonder if I have picked the right bird.  I would think this would be normal considering it is a large purchase... but there have been some special circumstances with this purchase that are likely not typical. 

So I am curious if others have had these nerves prior to close.

 

For the curious among you, here are some details of the purchase ( with no personal details):

 

THE GOOD:

Purchase price is very competitive.

Engine is essentially 80 hours since overhaul by Continental.  80 hours on the new prop and 80 on the new Rocket Exhaust.

as part of the agreement a new Garmin 345 ADS-B transponder is being installed

The acft will have a fresh annual from a MSC at close.

Will have a fresh O2 bottle hydro

All new rubber shocks

 

THE BAD:

The acft has damage history and the wing was repaired, poorly.  That poor repair is being remedied at a MSC prior to close.

Acft has some light hail damage and will need paint.

 

 

All in all after addressing the hail damage and putting on new paint, I think it will be a really nice aircraft to scoot around in.

 

Edited by Austintatious
flyboy0681 Grand Master

flyboy0681

Posted
Posted

It's not the initial purchase price that you have to worry about but the ongoing maintenance. If you don't have the temperament for an out of the blue $3,000 repair (for example), then think it over. But if you can handle it, then proudly write the check. It's the most fun you can have with your clothes on and a sport (or is it a hobby?) that not many Earthlings get to do.

  • Like 2
Ragsf15e Grand Master

Ragsf15e

Posted
Posted

Yep, nerves are normal there.  Be involved with the wing repair and annual.  Ask questions.  Make sure every bit of known damage is repaired to your satisfaction.  You’ll be upset without recourse when you find it later.  You already know you’ll find other $$ things to fix later - welcome to aircraft ownership!

Jim Peace Grand Master

Jim Peace

Posted
Posted
32 minutes ago, flyboy0681 said:

It's not the initial purchase price that you have to worry about but the ongoing maintenance. 

I know I am an outlier but I bet I spend just as much if not more throughout the year on MX as the annual......

  • Like 2
carusoam Grand Master

carusoam

Posted
Posted

When your plane cost as much as your house... there is reason to have some nervousness...

There is more than cost involved...

To relieve some of the nerves.....   You do the best you can with what you have...

  • The Best PPI 
  • the Best TT
  • Always use extra planning
  • Minimize risk, constantly....

After all that, Enjoy!

Best regards,

-a-

Gatlin Gun Enthusiast

Gatlin Gun

Posted
Posted
2 hours ago, Austintatious said:

So I am curious if others have had these nerves prior to close.

I JUST closed and flew my new Rocket home...  It was stressful, and to be honest, I'm excited but overthink everything about the plane (especially when I now am focusing on the little, will-need-to-fix-eventually things).  But remember, no house/person/beer/spouse/thing/plane is perfect.  You just have to make sure the negatives don't take away from the positives, then enjoy every freakin hour flying it! :lol:

  • Like 5
gsxrpilot Grand Master

gsxrpilot

Posted
Posted

Of the things you mention both good and bad, the purchase price and damage history are probably the things I care least about when purchasing a Mooney. 

When comparing Mooneys, I'd rather pay more and get more as that's always cheaper in the long run. And this applies to deferred maintenance and/or upgrades. (comparing two of the same model)

And regarding damage history, if it's repaired right, it's no issue and probably better than new, and if not repaired correctly, it's a deal breaker. I'm glad you're getting yours done right before closing.

But it sounds like you've got a great airplane, and it's hard to find anyone who doesn't like their Rocket. Congrats!

flyboy0681 Grand Master

flyboy0681

Posted
Posted
2 minutes ago, gsxrpilot said:

And regarding damage history, if it's repaired right, it's no issue and probably better than new, and if not repaired correctly, it's a deal breaker. I'm glad you're getting yours done right before closing.

 

Very much a true statement. Since our wing repair the plane is flying better than ever before and not only is it properly rigged, we are seeing a knot or two more in speed.

  • Like 2
Marauder Grand Master

Marauder

Posted
Posted
14 hours ago, Austintatious said:

I am getting real close to purchasing a Mooney rocket. So many things to consider.  I am excited to get my hands  on it but there is always that little voice in the back of the head making me overthink everything and wonder if I have picked the right bird.  I would think this would be normal considering it is a large purchase... but there have been some special circumstances with this purchase that are likely not typical. 

So I am curious if others have had these nerves prior to close.

 

For the curious among you, here are some details of the purchase ( with no personal details):

 

THE GOOD:

Purchase price is very competitive.

Engine is essentially 80 hours since overhaul by Continental.  80 hours on the new prop and 80 on the new Rocket Exhaust.

as part of the agreement a new Garmin 345 ADS-B transponder is being installed

The acft will have a fresh annual from a MSC at close.

Will have a fresh O2 bottle hydro

All new rubber shocks

 

THE BAD:

The acft has damage history and the wing was repaired, poorly.  That poor repair is being remedied at a MSC prior to close.

Acft has some light hail damage and will need paint.

 

 

All in all after addressing the hail damage and putting on new paint, I think it will be a really nice aircraft to scoot around in.

 

To answer your topic header: No, I was too stupid to be nervous. I would just be really thorough on the understanding of what you are buying. Don't get too enamored with paint, pretty interior or avionics. Just make sure the plane has been maintained and no big surprises come out of the woodwork.

  • Like 1
bradp Grand Master

bradp

Posted
Posted

If you're not nervous you're either really experienced in buying and selling airplanes @KLRDMD or something is wrong.

Due diligence is the name of the game.

Do make sure that there are no other 337s floating out there... which MSC are you using?  They are not all equally good.

 

  • Like 1
Austintatious Experienced

Austintatious

Posted
  • Author
Posted
1 minute ago, thinwing said:

Hail damage?That is my only concern...I assume most visible on light guage control surfaces?Congrats

yes and the top of the fuse...  The worst of it is definitely on the control surfaces... We are negotiating fixing this with either replacement ailerons or re skinning.

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