pilotrider Posted June 12, 2019 Report Posted June 12, 2019 (edited) Dear Fellow Aviators and Mooney Fans, Hope you are all having a great day! I have been dreaming about owning a Mooney / Vans type of fast GA aircraft since I first saw them at an airshow when I was a CAP cadet back in the 90s. I just moved back to the states from an overseas assignment, I am working on my PPL, have about 55 hours in C152's. I also have a jet maintenance background from the USAF and a large defence contractor. I currently work as a Tech Rep for a military jet and am looking to get my A&P this year. I am currently in middle/south Georgia. I am originally from Washington state. I have a house back in WA that should sell in the next few months freeing up some cash to buy a Mooney. I will have a budget around $30-$35k. So here are my questions and things I am looking for: 1. Recomendations for A&P's near middle Georgia with Mooney experience that could help with pre-purchase inspections. 2. Any Vintage Mooney airplanes for sale or brokers that sell them you could trust in my area. 3. Anyone with a Mooney near my area that would be willing to take me up and feel a Mooney to see if it's what I truly want (I would pay for some fuel etc)..? 4. Any pointers to existing resources in a Mooney buying search on a budget. Thank you very much for any links, help advice in advance. Best regards, --- Motorcycle and Aviation Enthusiast, Student Pilot, Mil Jet Tech Rep Edited June 12, 2019 by pilotrider add signature Quote
Hank Posted June 12, 2019 Report Posted June 12, 2019 There are Mooneys in Middle Georgia. I stopped at Middle Georgia Regional going to Sun n Fun a few years back, when I still lived in WV. Put a town or airport on your profile and it will appear in your avatar. Then people will know how close or far you live / work / train. I'm guessing Warner Robbins area, and I know one Mooney near there; there are probably more. Welcome aboard, and happy training! I bought my M20-C a mere five weeks after finishing my PPL in C-172s. 1 Quote
carusoam Posted June 13, 2019 Report Posted June 13, 2019 Welcome aboard, Pilotrider. There is lots of advice around here... For comparison shopping... All American Aircraft does a nice job of detailing important stuff regarding planes they have for sale... There may be some planes for sale listed on MooneySpace... using the search function or go to the planes for sale area... read up on pre-purchase inspections... a good way to insure(?) what you are buying is not going to be more expensive... My training was done in a C152 as well... Getting a Mooney M20C came next with about 100hours total experience... If you go the M20C route expect to get some Transition Training as required by your insurance people... PP thoughts only, not a plane sales guy.... Best regards, -a- 1 Quote
skydvrboy Posted June 13, 2019 Report Posted June 13, 2019 You are probably not going to like my answer, but if your budget is $30-$35k you may need to rethink whether or not you're ready to own a plane outright. With that budget, you are only looking at the very bottom end Mooneys, which may have significant deferred maintenance expenses. You will need at least half that much more ready to dump into the plane at a moment's notice for maintenance issues. You may have already thought about that and have $50k+ sitting in the bank and know you need to keep your purchase budget in check to allow for maintenance, and if so, you are ahead of 95% of first time plane owners. In that case go full steam ahead. Otherwise, wait until you have a bigger budget. Either rent, join a club, enter a partnership, etc. It may be possible for you to purchase the plane and then find a partner later, but that is a risky leap of faith! 2 Quote
Vance Harral Posted June 13, 2019 Report Posted June 13, 2019 $35K is light for sole ownership, but would be excellent for a 2-person partnership in anything up to an M20F model. That's just acquisition cost, though. What is your budget for fixed and operating expenses after purchase? 1 Quote
Guitarmaster Posted June 13, 2019 Report Posted June 13, 2019 A few thoughts for you: 1) Find the mean range of prices for a particular model then look for the best example. 2) Mooneys are great airplanes, but do have some big-ticket items associated with them. Of course, this is not unlike other planes. 3) Project airplanes NEVER, repeat, NEVER work out financially. @skydvrboy is right, a $35K Mooney is going to demand alot of time, attention and money after-the-fact. I've done it both ways now. My Mooney turned out to be a project (due to a lousy pre-buy) and my 310 I bought as turn-key at the top end of price for the model and year; and I still had few demons to chase out of it. Trust me, the second way is better. 4) Finally, airplanes are like kids, you can't afford them, but you do. You will find other places to sacrifice for this addiction! 1 Quote
DXB Posted June 13, 2019 Report Posted June 13, 2019 (edited) On 6/12/2019 at 1:09 PM, pilotrider said: 1. Recomendations for A&P's near middle Georgia with Mooney experience that could help with pre-purchase inspections. In Georgia it's a no brainer - Cole Aviation in Dalton Georgia. Give Joey Cole a call, tell him you're looking, he can help you with some of your other questions also and possibly even help find a plane. Comments above regarding severe risks and constraints imposed by your price range are correct. Edited June 13, 2019 by DXB 1 1 Quote
steingar Posted June 13, 2019 Report Posted June 13, 2019 I'll second Joey Cole, he's the Man. I'll further second what all the guys are saying about not enough ca$h, except what kind of house sells for $35K in WA? I always though real estate prices there were on the high side given its popularity with disaffected Californians. 1 Quote
Hank Posted June 13, 2019 Report Posted June 13, 2019 10 minutes ago, steingar said: I'll second Joey Cole, he's the Man. I'll further second what all the guys are saying about not enough ca$h, except what kind of house sells for $35K in WA? I always though real estate prices there were on the high side given its popularity with disaffected Californians. It's not sale price, it's remaining equity after sale, fees, inspections, realtor commissions and setting aside for the next place to live. Those take significant amounts off the table. 2 Quote
Hank Posted June 13, 2019 Report Posted June 13, 2019 23 minutes ago, DXB said: In Georgia it's a no brainer - Cole Aviation in Dalton Georgia. Give Joey Cole a call, tell him you're looking, he can help you with some of your other questions also and possibly even help find a plane. Comments above regarding severe risks and constraints imposed by your price range are correct. I'll third Joey Cole (www.coleaviation.com) at KDNN. He's working on my plane now . . . . . 1 Quote
pilotrider Posted June 13, 2019 Author Report Posted June 13, 2019 57 minutes ago, DXB said: In Georgia it's a no brainer - Cole Aviation in Dalton Georgia. Give Joey Cole a call, tell him you're looking, he can help you with some of your other questions also and possibly even help find a plane. Comments above regarding severe risks and constraints imposed by your price range are correct. Thank you very much, I will look into Cole Aviation for sure. You are very correct on the price constraints, but I am being very conservative with that estimate. Need to see how the house sale goes first. 1 Quote
pilotrider Posted June 13, 2019 Author Report Posted June 13, 2019 On 6/12/2019 at 1:13 PM, Hank said: There are Mooneys in Middle Georgia. I stopped at Middle Georgia Regional going to Sun n Fun a few years back, when I still lived in WV. Put a town or airport on your profile and it will appear in your avatar. Then people will know how close or far you live / work / train. I'm guessing Warner Robbins area, and I know one Mooney near there; there are probably more. Welcome aboard, and happy training! I bought my M20-C a mere five weeks after finishing my PPL in C-172s. Thanks Hank, I added a location as you recommended. I live under the approach path for KMCN and train at KPXE. Maybe some day I can find the Mooney owner at KMCN and get him to show me his plane. I am going to be patient and conservative (looking into IFR training after PPL) but it is very motivating to know others have bought a Mooney with low time and been successful. Quote
Yetti Posted June 13, 2019 Report Posted June 13, 2019 On 6/12/2019 at 12:09 PM, pilotrider said: I will have a budget around $30-$35k. So here are my questions and things I am looking for: Sell a motorcycle and the house for the capital investment in the plane. Need about $10K maintenance in the bank. Maybe lower since you are going to be able to work on it yourself. You are looking for a nice C model. 1 Quote
pilotrider Posted June 19, 2019 Author Report Posted June 19, 2019 I appreciate all the feedback. I will hopefully have more like $40-$50k after my home sale freed up, but will have to wait a few months to see how that works out. In the mean time. Looking for any vintage Mooneys for sale close to Georgia for comparison. Reading up on the different model options, think I want the manual gear. Thanks everyone for the input. Quote
carusoam Posted June 19, 2019 Report Posted June 19, 2019 Review the choices... (decision tree) 180hp or 200 with fuel injection... M20B,C,D vs. M20E 10” more to share with back seaters... M20G Can’t decide. go with both... 200hp and extra 10”... M20F,J (luxury model). Any of these fine birds can be easily updated with 50amu worth of fancy electronics... You can always sleep in a plane, you can’t fly a house... - Somebody Got to start somewhere. Then look for the electric gear, and flaps... Best regards, -a- Quote
Culver LFA Posted June 19, 2019 Report Posted June 19, 2019 Welcome to the group pilotrider, I'm 20 or so minutes (by Mooney) NW of you, I'd be happy to come down and meet you sometime and we can do a flight together in my M20F. Good luck with your search! Joe Quote
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