Help Me Find My Plane (No Buyer Brokers Please)

[N207LS]

It sounds like you are going through the right process.  I echo the sentiments of the F crew.  I can also assure you that my G is as fast as many F's (powerflow & all the speed mods).  I cruise at 140kts at 5,000', no wind, 23" and 2300 RPM.  I also burn arund 8.7-8.9 GPH at that setting (taken off my fuel flow analyzer).  If you back the power off 130 kts at 19" and 2300 RPM and burn 7 GPH.  I know that most people on this board fly at much higher power settings, but it depends on how much $$ you want to spend and why you are flying (if I am on a long trip and need to get there then 23 squared, if I am Sunday flying then 19"/2300 rpm).  Just a thought, but if you consider a slightly older airframe, you will most likely get a lot of extra toys for the money (430 or 530W, panel upgrades, etc).  Regardless of which Mooney you choose you will be happy with the performance.  There are also some old posts on things to look for.  I really suggest that you dig them up.  I don't want to rehash everything here, but in the current economy, you will find the plane that you want if you keep looking...  Regardless of your choice of Mooney make sure that the big ticket items are in good working order...  Best of luck.

Aaron

[KLRDMD]

Quote: N207LS

if I am on a long trip and need to get there then 23 squared, if I am Sunday flying then 19"/2300 rpm.

[Buster1]

Whoops, thread hijack warning.  Just an etiquette thing.  JMHO.

[KLRDMD]

Quote: Buster1

Whoops, thread hijack warning.  Just an etiquette thing.  JMHO.

[LuvFlying]

Got a little cross wind building in this thread.

[Magnum]

My experience: Be patient and act quickly when you find the "right" one. I searched the ads for nine months every day. Then I found a good one, called the same day, met the seller two days later and signed the contract. It was 30% below Bluebook, had a prop strike (with a shock loading inspection from a reputable shop 2 years and 30 hrs ago) and only 680hrs TT in 19 years. I have it now for three years and had no big problems so far. A low airframe / engine time doesn't always mean that it is a bad choice, and I was glad it had the shock loading so the engine was apart.

I had one advantage: My brother is an IA, when we looked at it we did a pre buy and were able to sign the contract the same day.

[HopePilot]

Would I be quicker if I had the money ready in an escrow account or did you skip that?

[Magnum]

I didn't use a escrow service, but that is because I am in Germany. IHMO it should be enough for the seller if you sign the contract and then transfer the money to the escrow service. I gave the seller a small deposit in cash, just enough that if I don't take the plane he would have some compensation for putting it online again.

[RJBrown]

I used First Pryority Bank in Pryor Oklahoma to escrow the deal.  I placed the cash in an account with them and applied for credit with them. I was looking at more expensive planes than the one I bought so when it came time to close I had money left over in their account. I left it with them and now have a account for my engine reserve that I add to as needed. If you are financing an airplane they are great to work with. Bob (Robert Guderian) is who I dealt with. http://www.1st-of-pryor.com/printable_Application.htm

[Jeff_S]

I believe use of an escrow depends on many factors. When I bought my Warrior, I used one purely to run the title search and complete the FAA documentation, but I paid cash for the plane so I didn't use a deposit account. Since I'll be financing a portion of the next plane, the loan company will perform those title search and filing functions, and thus again no need for an escrow deposit account as funds will be wired directly to the Seller's account AFTER I do a final visual inspection.