Prospective Mooney buyer in need of advice

[jetdriven]

Are you saying he is going to have to invest 65K into the plane to make it acceptable?

Perhaps if a GTN650/750 G600/XM/skywatch/GPSS, S-TEC-60-2, new engine, new paint, new interior, etc is what it takes. 

Quote: 201Pilot

The condition of the landing gear biscuits alone is indicative of the maintenance /lack of maintenance that this aircraft has received.  I would expect to have to invest at least as much as the asking price to thoroughly inspect and then repair the visible and hidden discrepancies, cosmetic issues and possible avionics upgrades to make this plane acceptable.  It might cost a lot more than that once you find all the squawks.

[bnicolette]

Have you questioned the folks about a tank reseal or fuel leaks?  With 3600 hours on the airplane that's an awful lot of landings on the original biscuits plus it defenitely sat outside which means the elements were also at work on the tanks.  It would almost be a miracle to have them not be leaking and new leaks/patches popping up all the time with those biscuits on there.

It could be a nice plane potentially with a very very thorough prebuy and the willingness to drop a LOT of money into it just to bring it up to a "comfort" level.  I think somebody else said get ready to spend the purchase price to bring it up to speed.  That may sound crazy, but it's probably not too far off gauging just from the pictures and the probable way this airplane has been maintained.

Windows?  If it sat outside, odds are a windshield is probably your future.

Be very very careful if you move forward on this one, but if you are looking for a deal, this one is not the one.

 

[231Pilot]

Quote: jetdriven

 

[HopePilot]

I am stunned that we are seeing a plane with its original biscuits.  This has got to be some kind of record, but a bad one at that.  We should all take a pause, as this is something that we will never see again. (Pause.................).   Okay, you may resume your previous discussion.

I agree with those that say it is a sign of collosal neglect.

 

 

[RJBrown]

Quote: fantom

[Parker_Woodruff]

Quote: HopePilot

I am stunned that we are seeing a plane with its original biscuits.

 

[bnicolette]

GTN650     $11K

GTN750     $15K

G600         $15K

Stec 60/2   $15K

Engine       $20K (2nd run could be a lot more expensive, couldn't it?)

Paint          $11K

Install        $15K

Total         $102K

The interior was done in 2010, so presumably it doesn't need done again?  And I have no idea what GPSS, XM, Skywatch cost so they are also not in the list.

Thats a bit more than the 65K and none of the "forgotten" about maintenance has been addressed.

Quote: jetdriven

[gregwatts]

Quote: RJBrown

Not to mention a royal PITA as you waste peoples time doing what you refer to as "research". BTW, I agree with your self evaluation!

Lots of good advise on this page about buying a plane, and there are so many items to learn about, inspect, test, and be comfortable with. It takes time, and it usually costs some tuition. A good broker can be invaluable.

 

 

[Shadrach]

Quote: allsmiles

Hey, Ross, in the two examples that you picked, in your opinion what are good and acceptable reasons for the towing limits indicator and the alternate static air placard to be missing?

[rainman]

It took me a while to work my way through all the posts, but after reading the advise and seeing the pictures, I don't get a good feeling about this plane.  I went through the shopping process this spring and looked at many 201s and 231s before my purchase.  This is a great time to buy and you can get a great plane.  There is a 201 out there (actually several) they someone has lovingly cared for it's whole life.  This plane does not appear to be one of those.  If you are an A&P who wants to work on his plane and bring it back to life, fine.  My plane had been very well cared for (the logs were very good) but needed the interior redone and some update on the panel. All of those costs are easy to calculate on a well cared for plane.  But a plane with original biscuits and rust.....who knows. Granted a pre-buy done at the time of an annual can show a lot, but why bother when there are so many really nice planes out there. That's my two cents.  Happy Veteran's Day to all of you who have served our nation!

Ray

[Shadrach]

I agree that this plane is a not candidate for normal purchaser. It does not appear to have been very well cared for and I can say with confidence that there are better options on the market... For a good wrench with time to kill, it may be a good candidate at a deep discount.

[NotarPilot]

Thank you to all who left helpful comments and advice.  I think I got the answer I was looking for here.  I'm going to continue looking around.  This was my first Mooney I looked at since it was only about a 3 hour drive from my house.  Looks like I'm going to have to invest in some airline tickets here real soon.  There are a lot of nice looking Mooneys out there but they're all over the country.  I'm thinking of paying a visit to All American Aircraft Sales in San Antonio since he's got several aircraft in my price range that might have some potential.

Thanks again,

Steve

[jetdriven]

The point I am trying to make is that every aicraft has some value.  A popular rant here is, "well, the plane is worthless because you have to spend XX$ on it".  In reality you are adding significant upgrades. 

That argument is not logical, because after you turn your C model into a E, and turn your F model into a J, or turn your K model into an Encore,  what did you have to buy it for to make it economically feasible? You have to get it for free. Which is why there are no free aircraft, and no C models with G500s.

You cannot subtract the price of upgrading a plane above its class from the purchase price. I haven't seen many 1977 201s with 650/750s, S-TEC 60s, and glass panels.  The nicest early 201 I ever saw was N201QT. It was based here at LVJ and had a 430/530, skywatch, new paint, interior, antennas, fairings, etc etc etc.    It sold for 100K.  He probably spent 80K on it.

Quote: Bnicolette

[gregwatts]

Quote: NotarPilot

Thank you to all who left helpful comments and advice. I think I got the answer I was looking for here. I'm going to continue looking around. This was my first Mooney I looked at since it was only about a 3 hour drive from my house. Looks like I'm going to have to invest in some airline tickets here real soon. There are a lot of nice looking Mooneys out there but they're all over the country. I'm thinking of paying a visit to All American Aircraft Sales in San Antonio since he's got several aircraft in my price range that might have some potential.

Thanks again,

Steve

[231Pilot]

Quote: gregwatts

Check out LASAR.com.......Paul and Sherry Loewen are good people.

[NotarPilot]

Quote: 201Pilot

Check out LASAR.com.......Paul and Sherry Loewen are good people.

[jetdriven]

Note most if all of the Mooneys LASAR sells are not located there. They are advertising the airplane but it is usually located somewhere else. This may or may not be easier for you.   Paul and Sherry are great folks, we met them at Kerrville.

[DaV8or]

Quote: jetdriven

Note most if all of the Mooneys LASAR sells are not located there. They are advertising the airplane but it is usually located somewhere else.