In the market for a m20e

[Chaseford10]

Looking to buy a m20e. Around $80-85k to spend for a decent ifr platform. I will be a 1st time Mooney buyer so any help would be appreciated greatly!

[LBM]

Where are you located?  I’m again considering taking on a partner with my ‘64 E, if you would consider a partnership.

[TheAv8r]

Jimmy from GMax Aircraft (well known Mooney broker) just posted this M20E for sale. 
 

 

https://jimmygarrison.smugmug.com/N6389Q/n-CjbH3B

It’s above your budget but a perfect fit for your IFR mission, and I would say it’s worth the extra $$ to buy a plane that already has all the desirable upgrades like the CGR30s, GI275s, newer engine, non-AD prop hub, FS210, LED lights, etc. then spending it yourself on a cheaper plane. 

[Chaseford10]

@TheAv8r 85k is my max.. looks like i may be waiting around for awhile to get one at 85  this is just for IFR rating - commercial and time building.. i don't need anything super fancy, steam gauges and a 430W would do the job!

Edited November 2 by Chaseford10

[MikeOH]

26 minutes ago, Chaseford10 said:

@TheAv8r 85k is my max.. looks like i may be waiting around for awhile to get one at 85  this is just for IFR rating - commercial and time building.. i don't need anything super fancy, steam gauges and a 430W would do the job!

Just butting in with unrequested advice...make sure you have enough to handle an engine overhaul for whatever plane you end up buying; low time SMOH is not a guarantee.  You don't want to max out your budget buying and end up with an expensive lawn ornament when something expensive goes wrong!  My repeated advice is to buy a plane with frequent and continuous use over one with low SMOH but hasn't been flown in a year or two.

[ArtVandelay]

[mention=18789]TheAv8r[/mention] 85k is my max.. looks like i may be waiting around for awhile to get one at 85  this is just for IFR rating - commercial and time building.. i don't need anything super fancy, steam gauges and a 430W would do the job!

TAP has a couple in your price range but none with a 430.

[Chaseford10]

@MikeOH If i had to overhaul i could but obviously would hope to not have to. i just don't need anything super modern! i would even consider a C model 

[Chaseford10]

@ArtVandelay I have found some decently equipped with higher engine time. I saw C model in the classifieds for around 74 that was decent but about 1400smoh 

[bcg]

[mention=11849]ArtVandelay[/mention] I have found some decently equipped with higher engine time. I saw C model in the classifieds for around 74 that was decent but about 1400smoh 

My C is 2025 SMOH and running great with no plans for OH anytime soon. I wouldn't be bothered at all by 1400 SMOH if it's been used regularly and is running well.

Sent from my Pixel 9 Pro XL using Tapatalk

[TheAv8r]

18 hours ago, bcg said:

My C is 2025 SMOH and running great with no plans for OH anytime soon. I wouldn't be bothered at all by 1400 SMOH if it's been used regularly and is running well.

Sent from my Pixel 9 Pro XL using Tapatalk
 

My E when I bought it was at 1500hrs SMOH, regularly flying, well-maintained and running well. I had to overhaul it at 1810hrs. 

Just saying, it's a YMMV type of operation, it can be running perfect 1 day and have an issue the next, regardless of time, higher time just makes it more likely. 

[bcg]

My E when I bought it was at 1500hrs SMOH, regularly flying, well-maintained and running well. I had to overhaul it at 1810hrs. 
Just saying, it's a YMMV type of operation, it can be running perfect 1 day and have an issue the next, regardless of time, higher time just makes it more likely. 

You're absolutely correct.

I know a guy that had to have his redone at 300 hours in his E because they didn't seal the case correctly and put high compression pistons in it. That's kind of my point, engine time really isn't as big an indicator of engine health as many think it is.

I fix stuff when it breaks on mine, run oil analysis every oil change and borescope every 100 hours. I've got 350+/- mostly trouble free hours on it now.

Sent from my Pixel 9 Pro XL using Tapatalk

[Flyler]

On 11/2/2024 at 12:51 PM, TheAv8r said:

Jimmy from GMax Aircraft (well known Mooney broker) just posted this M20E for sale. 
 

 

https://jimmygarrison.smugmug.com/N6389Q/n-CjbH3B

It’s above your budget but a perfect fit for your IFR mission, and I would say it’s worth the extra $$ to buy a plane that already has all the desirable upgrades like the CGR30s, GI275s, newer engine, non-AD prop hub, FS210, LED lights, etc. then spending it yourself on a cheaper plane. 

How do we get on this list?

[bigmo]

Contact Jimmy at Gmax. Let him know what you're in the market for and he'll start sending you aircraft that he has coming online. I gave him a needs & want list and budget. In 90ish days he found my plane.

Behind the scenes, Jimmy is mailing Mooney registered owners nationwide. I'm sure he has some kind of data he targets (maybe a/c that don't fly a ton). Anyway, that's how mine popped up (ie a cold mailing).

Jimmy then brokers the transaction....kind of like a dual agent in a real estate transaction. It was a very professional and well-run process. Communications were clear, and all three parties (buyer, seller, broker) walk away as friends.

[Slick Nick]

On 11/2/2024 at 12:15 PM, Chaseford10 said:

@TheAv8r 85k is my max.. looks like i may be waiting around for awhile to get one at 85  this is just for IFR rating - commercial and time building.. i don't need anything super fancy, steam gauges and a 430W would do the job!

Why do you need a 430W? Your budget would allow for a nicer plane (mechanically) if you found one without a ton invested in avionics. 

[bigmo]

23 minutes ago, Slick Nick said:

Why do you need a 430W? Your budget would allow for a nicer plane (mechanically) if you found one without a ton invested in avionics. 

I’ll assume he wants a /G aircraft with robust approach choices. For me, a WAAS certified navigator was a must, not a want, so I understand that desire.

I wound up with a GNS480 (which I now believe to be wildly more capable than any early Gen Garmin navigator). 

I feel like he’s realistic-ish on his budget. He might need to step up closer to $100k, but at least I’m the ballpark. The right Mooney will pop up in 3-5 months.
 

[AndreiC]

A year and a half ago I bought from Jimmy essentially the plane you want, for $85k. 1970 E with 430W and STEC 30 with alt hold, under 500 hours on engine. Interior was in bad shape, but I fixed it myself. So yes, it is possible, unless the prices have gone up a lot since then. 

[varlajo]

3 minutes ago, AndreiC said:

A year and a half ago I bought from Jimmy essentially the plane you want, for $85k. 1970 E with 430W and STEC 30 with alt hold, under 500 hours on engine. Interior was in bad shape, but I fixed it myself. So yes, it is possible, unless the prices have gone up a lot since then. 

I think prices have been actually cooling down over the past year. 

[Chaseford10]

@bigmo i emailed him and he said he would add me to the list.

[bigmo]

@Chaseford10 Does Jimmy have N4044N under contract? I know the motor is at 1500 hours, but there's a LOT of plane there for $90K. 

[Chaseford10]

@bigmo i never asked, im pretty sure it had a top 500 hours ago too. 

[AndreiC]

@Chaseford10 If you are ready to pull the trigger and accept the risks of buying a plane sight unseen, this may be the plane for you. Ends in 1 day, now at $56k.

https://bid.gradyauctions.com/ui/auctions/128702/17417558

I was watching it as I was thinking if it sold under $50k it would be a good deal even with all the risks involved, but now it is above what I can justify as a somewhat risky flip investment. (I do have an E already.)

But it does look like a good solid airplane — from what I can see in the logbooks it was flown 30-60 hours per year every year, in annual all the time, reasonable avionics, <1000 sfrm. Plus has the manual gear which is maintenance free, and no gear ups from what I can tell. 

[Chaseford10]

@AndreiC its almost at 60 now, not sure if i wanna risk sight unseen..

[MikeOH]

2 hours ago, Chaseford10 said:

@AndreiC its almost at 60 now, not sure if i wanna risk sight unseen..

Don't blame you.

However, you are looking for a 'deal'.  Nothing wrong with that, but be ready to 'Jump' when the right one comes along.  I missed two planes because I hesitated.

[Echo]

13 hours ago, Chaseford10 said:

@AndreiC its almost at 60 now, not sure if i wanna risk sight unseen..

You were looking to spend $80-85k as well as move down to a C Model.  $60k for this plane, as equipped, is a very good price.

[Chaseford10]

@Echo from looking at the pictures it looks like it has hail damage all over the wings..  not sure how I feel about that. Cant beg and choose though.