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Looking to buy M20J

korbike

By korbike
in General Mooney Talk

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Fly Boomer Grand Master

Fly Boomer

Posted
Posted
9 minutes ago, korbike said:

If you are thinking of selling please let me know, private cash buyer. GPSS, Waas, AP, mid time engine.

David Price

760-807-1254

Welcome to MooneySpace.  Airplanes do show up for sale here.  Best bet is to come back often and read what's going on.

glbtrottr Proficient

glbtrottr

Posted
Posted (edited)

I was born on Wednesday ….but it wasn’t last Wednesday :) Jimmy is an awesome guy to reach for that! He will point you exactly in the right direction, and hopefully make some great Margin in the process ….

No deals to be had here…


 

Edited by glbtrottr
katzhome Rising Star

katzhome

Posted
Posted

Don’t sweat it @korbike, it is still a tough market out there.  It took me 6-8 months last year once I got serious.  Getting your wants out there is important.  I ended up getting contacted here on MS before N43CA even went in the market.

 

Jimmy is also a great resource, his pricing guide was very helpful during my search.

Good luck !

  • Like 1
A64Pilot Grand Master

A64Pilot

Posted
Posted
44 minutes ago, korbike said:

My apologies to the Mooney owners that are offended, by my offer to buy their plane.   

Surely no one was offended, just until very recently it’s been a sellers market, and everyone wants what you want.

You come in with this list of must haves and over time you realize anything that meets that list is likely rare and maybe overpriced, so you begin culling things from the list until you find what’s available and priced realistically.

Not that my advice is worth anything, but I would focus on a good engine and especially airframe, fresh paint, interior, the engine monitor you want, etc are certainly nice to have, but if the airframe has issues you can have a real expensive problem.

Remember these aircraft aren’t young and how they have been treated greatly affects condition, there is more than one J model in junkyards that an accident didn’t put them there, local junkyard has a K model that’s there from corrosion, I need to get down there and see if it has any parts I can use.

So a mid 80’s or 90’s J can be a piece of junk, or as good as new, and everything in between.

Buyer Beware.

Have money in hand and be ready to strike when a good deal comes along, and get there ASAP and begin the process, because we aren’t yet to the point where aircraft languish on the market, ones that do, do so for a reason.

  • Like 1
201er Grand Master

201er

Posted
Posted
1 hour ago, korbike said:

My apologies to the Mooney owners that are offended, by my offer to buy their plane.   

I don't think anyone is offended, I think it's more that they are laughing that in this market a buyer is asking for offers rather than chasing after sellers offering to pay more than expected. There is currently excessive demand, no new supply, and older ones getting crashed or grounded.

hubcap Mentor

hubcap

Posted
Posted
1 hour ago, korbike said:

My apologies to the Mooney owners that are offended, by my offer to buy their plane.   

I am in no way offended. It would be nice if it were that easy. Most of us who have bought planes recently have had to buy a plane that was not everything we wanted, and then upgrade it to what we want. There have been several "turnkey" planes sold recently. They sell quickly, and for top dollar.

Good luck in finding what you want!!

korbike Rookie

korbike

Posted
  • Author
Posted

Hi Kris, I'm located in Kmnv TN

201er, I fail to see the humor. Its just a simple ask, if your thinking of selling. Usually when someone asks to buy your plane its considered flattering. 

  • Like 2
201er Grand Master

201er

Posted
Posted
33 minutes ago, korbike said:

201er, I fail to see the humor. Its just a simple ask, if your thinking of selling. Usually when someone asks to buy your plane its considered flattering. 

I wasn't planning on selling but if you must have it, I'll accept offers starting a a million :lol:

  • Haha 2
A64Pilot Grand Master

A64Pilot

Posted
Posted

Hi,

   I’m the guy who pretty much disagrees with most of the forum.

I believe the market is softening, but it’s not really sunk in yet.

Got an email the other day from a real estate agency the other day, they stated that in Fl anyway that the prices of houses hasn’t come down much, but that there is no longer bidding wars, houses aren’t selling above listing, not even selling at listing.

They said houses aren’t selling because buyers are trying to beat the sellers down on price, but the sellers are wanting last years price for their house.

While I’m no longer looking, so I don’t know, but suspect that’s true for airplanes too, if I’m right then there should be a few more on the market than a year ago, and from what I read here, the supply has increased.

Everything is cyclical, and it’s my opinion that within a year or so a cash buyer will be in a much better position in a year or so, and in fact is now in a better position than a year or so ago.

So in other words be patient, but in a position to buy when the right deal comes along. I think prices will be coming down soon, hopefully not as bad a drop as in 08, but similar.

  • Like 1
A64Pilot Grand Master

A64Pilot

Posted
Posted
2 hours ago, korbike said:

Hi Kris, I'm located in Kmnv TN

201er, I fail to see the humor. Its just a simple ask, if your thinking of selling. Usually when someone asks to buy your plane its considered flattering. 

The humor is what you asked for.

We all wanted that, yet most of us had to recalibrate our wish list, cause while there may be unicorns, there aren’t many, in my case they were out of my budget anyway.

However they do exist, or not depending on your budget, which is actually what depends on what you can get, give an idea of budget and people can give you a better idea of what’s likely.

Me, I settled on an 81 J with mostly original avionics, but top of the line in its day and fully equipped, but a 430, really should be painted, an autopilot that’s iffy and I’m told repair isn’t realistic, original interior that to me looks fine, but has a Stellar engine, a Gann performance overhaul with about 400 hours on it at purchase and I’ve not found any corrosion yet.

 

PT20J Grand Master

PT20J

Posted
Posted
2 hours ago, hubcap said:

There have been several "turnkey" planes sold recently. They sell quickly, and for top dollar.

And, the reason they sold quickly is that experienced buyers recognized that they were a bargain. I bought a well cared for, always hangared, low time M20J with a really clean airframe and all the service bulletins complied with, and a questionable engine for $135K. I have spent that much again replacing the engine and redoing the panel after I got tired of playing whack-a-mole with the old avionics. It’s gonna need paint soon.

Skip

  • Like 1
0TreeLemur Grand Master

0TreeLemur

Posted
Posted

Here's some encouragement for you @korbike.  We decided to start looking for a J model in early December, 2022.   Our wish list included: recent paint, windows, pucks, tank reseal, redone interior, a full function autopilot with modern avionics, and a mid-time engine.   I figured it would take 4 to 6 months to simultaneously find this bird, and be the first to throw an offer.  It took three days.  The right kind of J was just listed when I started my search.   It can happen.

It wasn't a "bargain", but was priced pretty much in-line with Jimmy's  2021 guide with a 10% increase accounting for the rise in the value of J models in 2022.  Remember that unless you plan to be short-time owner, capital outlay isn't the dominant cost of aircraft ownership.  Spending a bit more now to get what you want is cheaper than fixing problems, in a year or two, especially now that a tank reseal is over 12 AMUs.

I found it listed on controller.com

Good luck with your search!  Be patient.  When you see one that you think is worth owning, be aggressive.   I put earnest money down before ever seeing the plane in person.

  • Like 2
Jerry 5TJ Grand Master

Jerry 5TJ

Posted
Posted

Keep looking and be ready to act — One of my former students has just sold his primo 1979 M20J. It was heavily upgraded with a new engine and custom paint and beautiful Interior and all new Garmin glass panel including GFC500.  It sold in days for about $200K to a local buyer via word of mouth.  

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