What Will $125,000 USD Get Me?

[GeneralT001]

Any thoughts on this one? It shows only a 200HP engine...does that matter?

 

https://www.controller.com/listing/for-sale/209191147/1983-mooney-m20j-201-piston-single-aircraft

[philip_g]

33 minutes ago, GeneralT001 said:

Any thoughts on this one? It shows only a 200HP engine...does that matter?

 

https://www.controller.com/listing/for-sale/209191147/1983-mooney-m20j-201-piston-single-aircraft

Most j are only 200hp?

Paint looks good. Panel needs about 60k. I think it's overpriced but I'm cheap. Hopefully you're Canadian. It's especially overpriced to deal with import headaches.id rather have a mid time engine than 0 time.

Edited November 30, 2021 by philip_g

[MikeOH]

52 minutes ago, GeneralT001 said:

Any thoughts on this one? It shows only a 200HP engine...does that matter?

 

https://www.controller.com/listing/for-sale/209191147/1983-mooney-m20j-201-piston-single-aircraft

Hmm, that one raises a couple of red flags.  The logs on-line don't show any entries after 2019, yet the ad talks about a October 2021 overhaul.  Then, you see the prop was OHed in April 2021.  Sounds like a prop strike to me.  Old avionics.  I'm with philip_g; I'd much rather have a mid-time, known engine than a cheap OH to sell.  (I practice what I preach; I bought my F with an over TBO engine that was consistently flown and maintained.  Four years and four-hundred hours in and it's still running great!)

IMHO, this is an overpriced paint job with no engine history and old avionics.  I'd move on.

[Guest]

4 minutes ago, MikeOH said:

Hmm, that one raises a couple of red flags.  The logs on-line don't show any entries after 2019, yet the ad talks about a October 2021 overhaul.  Then, you see the prop was OHed in April 2021.  Sounds like a prop strike to me.  Old avionics.  I'm with philip_g; I'd much rather have a mid-time, known engine than a cheap OH to sell.  (I practice what I preach; I bought my F with an over TBO engine that was consistently flown and maintained.  Four years and four-hundred hours in and it's still running great!)

IMHO, this is an overpriced paint job with no engine history and old avionics.  I'd move on.

It’s in my shop at the moment. Fresh engine, fresh prop, fresh annual……..

Clarence

[MikeOH]

Just now, M20Doc said:

It’s in my shop at the moment. Fresh engine, fresh prop, fresh annual……..

Clarence

@M20Doc

Did it have a prop strike?

Just odd the logs available in the ad stop in 2019

[Will.iam]

Well if it did have a prop strike wouldn’t a full overhauled engine be better than a tear down for a prop strike? 

[Guest]

12 minutes ago, MikeOH said:

@M20Doc

Did it have a prop strike?

Just odd the logs available in the ad stop in 2019

No prop strike.  The current owner wanted better maintenance, the last maintainer was letting too many things slide.  In Canada we have a 10 year prop overhaul requirement, this one was 7 years overdue as an example.

The engine was overhauled by Reliable Horse Power, Prop and governor by Hope Aero.  Mount was overhauled, new mounts, bolts baffles baffle seals, fresh pitot static, auto pilot servos done, new 406 ELT, on and on.

Prop and engine dates don’t match, the prop was done and returned before the engine was completed.  Crankcase overhaul took forever at CSI( there was another thread on this) 

I haven’t signed the logs as of yet, so if it sells it does get a fresh sign off.  If the owner wants it back sooner it will get a December Annual.

Clarence

[GeneralT001]

I appreciate the conversation on this and the effort to dig into it a bit. 

Any Mooney I do buy I fully intend to upgrade to something along these lines....so would like to be able to get a more basic plane model and spend on that upgrade....is this a sound approach??

 

 

[Lance Link]

I think it’s a matter of money.  If you can afford to blow your budget on a decent J model and afford 80k for a panel that’s a good way to go.  Otherwise I’d get a nice F model and spend 80k on a panel.  Having just spent 80k on a new panel if I could turn back the clock I would have included F models in my search.

[GeneralT001]

3 minutes ago, Lance Link said:

I think it’s a matter of money.  If you can afford to blow your budget on a decent J model and afford 80k for a panel that’s a good way to go.  Otherwise I’d get a nice F model and spend 80k on a panel.  Having just spent 80k on a new panel if I could turn back the clock I would have included F models in my search.

Thanks...I will take that to heart....would there be a model year you wouldn't go past??

[MikeOH]

18 minutes ago, GeneralT001 said:

Thanks...I will take that to heart....would there be a model year you wouldn't go past??

If you start looking at Fs, then I think the 'newest' is mid-70s; 45 years old!

So, I'd be more concerned with the condition of the plane you are considering, rather than the year.

[Culver LFA]

1 hour ago, M20Doc said:

The engine was overhauled by Reliable Horse Power.

Enough said, as a very satisfied customer I can assure you all this a good one. 

[philip_g]

I sure wish I had a 24v electrical. I'd prioritize that but my needs are different than yours 

Edited November 30, 2021 by philip_g

[Hank]

47 minutes ago, bluehighwayflyer said:

Since I already own a vintage Mooney that would be one thing, but I wouldn’t buy one with the intention of investing that much into the panel, personally.  You’re going to very quickly price a F out of it’s market with a panel like that. You should just go ahead and buy a J.  They have more headroom. 

Bob Belville didn't worry about that when he redid his E. And Bennett put much more into his J. Both planes sold quickly, to happy new owners, when their times came.

Buy the Mooney in the best mechanical shape that you can find, that has been flown regularly. Fly it a while to see how it works and what you like, then redo it to suit your budget and needs.

[ArtVandelay]

I think it’s a matter of money.  If you can afford to blow your budget on a decent J model and afford 80k for a panel that’s a good way to go.  Otherwise I’d get a nice F model and spend 80k on a panel.

The J will have a higher resale price, if can afford to spend $80k on the panel, you can afford a J.

[GeneralT001]

Just an update....I Bought it!! WTH!! Happy to be the proud owner of a Mooney

 

 

 

Edited November 30, 2021 by GeneralT001

[Hank]

Looking good! Now get a good, experienced Mooney CFII and learn to fly it right!

Where are you based? Someone may be nearby.

[GeneralT001]

Meh...I've got 6,000 hrs (35 yrs military pilot) 7 tours in Afghanistan at the controls of a C130 flying tactical  I am currently buzzing around in a C172 and did fly a Mooney X-ctry back in the 80's.. It will be a bit of a transition but I'm up for it

[hammdo]

Congratulations! Lots of fun ahead. Panel will be sweet when upgraded. New engine/Prop - and you get to break it in... ;o)

-Don

[GeneralT001]

10 minutes ago, hammdo said:

Congratulations! Lots of fun ahead. Panel will be sweet when upgraded. New engine/Prop - and you get to break it in... ;o)

-Don

Yeas...I'm gonna have to brush up on the correct way to break an engine in...so far all I've been told is to "run it hard" for the first 25 hrs....I'll try and expand on that

[MikeOH]

Congratulations!

I'd be good with anything M20Doc has inspected!

Enjoy!!

[Culver LFA]

4 hours ago, GeneralT001 said:

Yeas...I'm gonna have to brush up on the correct way to break an engine in...so far all I've been told is to "run it hard" for the first 25 hrs....I'll try and expand on that

Talk to the guy that built it, better yet, meet him in person when you go to pick the airplane up and discuss his recommended break-in procedure. Ron Poelstra is not your average guy putting re-manufactured parts back together to form an engine, this guy is top notch.  He may have even run it on his test stand for a few hours before it went back on the airplane.

[GeneralT001]

Just now, Culver LFA said:

Talk to the guy that built it, better yet, meet him in person when you go to pick the airplane up and discuss his recommended break-in procedure. Ron Poelstra is not your average guy putting re-manufactured parts back together to form an engine, this guy is top notch.  He may have even run it on his test stand for a few hours before it went back on the airplane.

Thats great to know and I will do my best to get that feedback/advice. Thanks

[Culver LFA]

5 minutes ago, GeneralT001 said:

Thats great to know and I will do my best to get that feedback/advice. Thanks

And I should have started with a congratulations, that's a sweet ride!

[PT20J]

I always thought Mike Bush's advice sound: Buy the newest, lowest time airframe you can find because that's the one thing you can't replace. Better if you can find an appropriately discounted one with a run out engine because you then have control over the quality of the overhaul. Good luck trying to find one with the avionics you want. The installation cost for the new Garmin stuff costs at least half the price of the equipment and the insurance company figures a 40% immediate depreciation on the hardware. So unless you find an estate sale, no one is likely to part with a recently upgraded panel and take that loss. Better to find one with avionics you can live with for a while and then decide what you really need.

Skip