aviatoreb Posted October 10, 2019 Report Posted October 10, 2019 6 hours ago, Danb said: Jeez college may be over $250,000 let alone silly stuff like food and shelter. ...oh yeah...shelter. I was hoping we could get away with a tarp and a few sharpened sticks. Quote
Danb Posted October 10, 2019 Report Posted October 10, 2019 Sticks for fire would come in handy, and a slingshot to get the rabbit to cook with the newfound fire. 1 Quote
pwnel Posted October 14, 2019 Report Posted October 14, 2019 On 10/9/2019 at 5:09 PM, xavierde said: I agree and wouldn't finance anything plane related as well but that's a personal preference. My interrogation comes from the fact that I really want to upgrade the plane to make it better, specifically avionics-wise but don't want to end up loosing $80-100k or so on a sale in a few years (if I want to get a twin when my mission changes e.g. extending the family). So I'm wondering whether to upgrade very selectively and at limited cost or if I should just go full-speed thinking I'd end up finding a buyer looking for an already upgraded "forever plane", if/when the time to sell comes. Some of us will just wait until some of these "forever planes" come on the market. :-) (no disrespect meant) I had my Sarasota panel, Hawk paint job and Hector interior all planned out. Recently I'm getting back into motorbikes and realized you can buy a brand new shiny red sex machine Ducati Supersport S for the price of a single Garmin 750. Puts things in perspective. My 231 flies just fine without all the other stuff. I'll keep a couple of Ducatis in the hangar before I upgrade my 430W :-) 4 Quote
larryb Posted October 16, 2019 Report Posted October 16, 2019 Good luck with that. By the time a “forever plane” comes on the market it’ll have 20 year old paint/interior/panel and a runout engine. 1 Quote
pwnel Posted October 16, 2019 Report Posted October 16, 2019 12 hours ago, larryb said: Good luck with that. By the time a “forever plane” comes on the market it’ll have 20 year old paint/interior/panel and a runout engine. I wish you a long and happy flying life Larry. Sometimes though life happens (loose a medical or worse etc). These planes do come on the market and they're often hugely overcapitalized. If you ever need to swing that Encore PM me Quote
Parker_Woodruff Posted October 16, 2019 Report Posted October 16, 2019 On 10/9/2019 at 6:54 PM, gsxrpilot said: @ArtVandelay is about right here. The ceiling for a 252 seems to be about $225K. To fetch that it would need to be upgraded to an Encore and have a modern panel. But that's what they'll fetch today. As @kortopates said, the 252 might be the best model Mooney ever made according to a lot of people. And since they're not making any more of them. And there is nothing else on the market that compares, the values of good, Encore upgraded 252 will continue to go up. The one I have is likely my forever airplane and I'm spending on it accordingly. Someday I hope to bring it back to factory new condition with an all glass panel. I will say that paint and interior are the very last things on my list to upgrade. First of all, once you've done the paint and interior you don't want to be taking it apart for more upgrades. So do that last. They also bring the least value on the resale market. If a buyer is going to be asked to pay for a paint job, they might like to pick out the colors. So for me, somewhere in the next few years, when there is nothing left to improve, fix, upgrade, on my 252, it will get an Aerocomfort interior from Hector and a new paint job from Hawk. What @gsxrpilot said... The Encore conversion will have the most ROI. Do the paint and interior last so it gets scuffed as little as possible. A 252 converted to an Encore will likely have a better useful load than a 1997-1998 Encore, but the interior components will not be as slick as the 1997-1998 Encore. It's a shame the economics do not make sense to bring the Encore back into production. Mooney should have made many more M20Ks instead of putting all that energy into the M20L disaster. I sorely miss my 252/Encore. 1 Quote
Parker_Woodruff Posted October 16, 2019 Report Posted October 16, 2019 The new Garmin G-500 allows for an engine monitor. This will save you some money. On the capital subject: things that are nice but not imperative: - A second IFR GPS and the associated subscription. A good Garmin Nav/Comm will do in the #2 slot. - SiriusXM hardware. Quote
Jerry 5TJ Posted October 16, 2019 Report Posted October 16, 2019 On 10/9/2019 at 11:09 PM, carusoam said: I’m still trying to figure out if an O can be a forever plane.. I thought so when I bought mine but it only lasted about 18 months in that role. So perhaps “Forever” has become a relative term. Quote
carusoam Posted October 17, 2019 Report Posted October 17, 2019 Jerry, The turbine forever-plane... I’m going to need some stronger financial planning to cover just the insurance... never mind getting the plane and some training /experience to match... My retirement plans didn’t include Florida... but Tom has shown how nicely the Lancair IVPT can cover the distance... It all starts with a dream... Best regards, -a- Quote
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