Is this a good buy?

[ErickR]

Here is the listing for a m20k on ebay that I would love to have...

Seems like a good buy what are your thoughts?

http://cgi.ebay.com/ebaymotors/79-Mooney-M20K-231-210-HP-Turbocharged-Speedster_W0QQitemZ250605801889QQcmdZViewItemQQptZMotors_Aircraft?hash=item3a594511a1

[Parker_Woodruff]

Just be ready to spend money on the engine.  Between now and a few years have $45,000 just in case.

[GeorgePerry]

Looks like a great candidate for a rocket / missle conversion.

[ErickR]

Quote: Parker_Woodruff

Just be ready to spend money on the engine.  Between now and a few years have $45,000 just in case.

[Buster1]

Readying to buy a K, I have my eye on all of them.  Been studying the market and 231s for 6 months now.  My thoughts:

Great price! Will need a new motor in 1-2 years, probably needs a top now (one cylinder is low). May need an OH now, 14 yrs since the reman...I think she's due.

Why is the seller telling me that 3400+ hrs TT is "low time" ??  let me make that decision, I've seen plenty with less time.

This one goes in my "basic" avionics stack.  FWIW

Speedbrakes?

Nice plane in my opinion, I've been quoted mid-$30s for a TSIO-360-LB overhaul, be ready for that soon!

[ErickR]

Well, since I just bought my first mooney only 2 months ago I wasn't looking for a replacement just yet. Then I saw this one and thought maybe it was time.    I'm going to resit temptation.

2 new mooneys in 3 months = sleeping on the couch, if lucky...

 

[Parker_Woodruff]

Getting a field overhaul plus remove/install labor and any "little" stuff that always happens like mounts, etc will easily hit $40k. 

[davidfreedman]

Caveat - I'm biased and inexperienced.  Buy your Mooney with a great engine and good avionics (you need the first and if you want the second, buy it, don't install it if it exists on the market).  Here's why:

1)  Both depreciate...if the guy before you bought it, you'll pay less second hand.  Replacing your avionics stack is like $30-40k...resell won't support that.  Parker's $40k on engine sounds about right.  Use it to your advantage.

2)  Downtime and squawks...major work takes time and aviation guys work slow.  You won't fly for awhile.  And when you get it back, things wont work right and you wont understand why.  So you'll spend time going back to the shop til they figure it out.

Interior/paint is a different story.  This, like everything else in aviation, is a money losing endeavor but DAMN you feel good after you get it done.  Big difference is:

1)  I assert that the loss on investment is less than avionics/engine

2)  Squawks tend to be non-critical that you can handle at your leisure.  Glue...touch-up paint..etc.

 

And a last word...owning an airplane make no financial sense for the most part.  And it's the greatest freedom on earth.  Taking a bird from and old stack/replacement engine can be gratifying if you enjoy the journey and aren't bothered by the money.  P.S.  Don't consider total time unless its INSANE. 

 

 

[Paul]

Bought my first mooney, N231HY last may.  I will be the last person to talk you out of a 231.  I would highly recommend a prepruchase inspection or even an annual from a moony service center or a mooney expert prior to purchase. I would never suggest a piper or cessna mech is not qualified. However, I fell into the trap a using the resident cessna guy.  Bad mistake, my first annual was an education in mooney ownership.  Thank god for a understanding wife.

Find it, check it out, and buy it as an informed owner. 

Fly high, fly fast and leave everything but fellow moonies in the dust.

Paul

[ErickR]

Quote: Paul

Bought my first mooney, N231HY last may.  I will be the last person to talk you out of a 231.  I would highly recommend a prepruchase inspection or even an annual from a moony service center or a mooney expert prior to purchase. I would never suggest a piper or cessna mech is not qualified. However, I fell into the trap a using the resident cessna guy.  Bad mistake, my first annual was an education in mooney ownership.  Thank god for a understanding wife.

Find it, check it out, and buy it as an informed owner. 

Fly high, fly fast and leave everything but fellow moonies in the dust.

Paul

[Kwixdraw]

Mooneys are very different than Cessnas and other brands in the way they are constructed and maintained. Most (metal)  aircraft do not have much in the way of steel in them where a Mooney has the inner tube structure, somewhat like an old tube and fabric aircraft.  Anyone inspecting a Mooney needs to know what to look for in the way of problems in this structure and you need to understand that it's important that you know for sure this inspection is done correctly and thoughly. You can buy a pile of junk ( that very well could kill you) otherwise. Mooney landing gear has to be rigged properly or it will collapse on you and that can be financially disasterous too. The nose gear on a Mooney has a lot of linkage that is high wear and expensive and prone to send you off the runway with a propstrike to boot if not taken care of properly. There are plenty of ADs and SBs that you need to be aware of and be able to verify that they have been taken care of properly so they don't cause you problems at a later time when someone who really knows Mooneys gets a look at your plane.

Please don't think this is being negative, I'm just pointing out that no matter what aircraft you look at with an eye toward purchasing they will all have their particular issues and you are well advised to find someone who really is an expert on that type and model to do your inspection and educate you on the fine points.  You are in the right place here. I would reccomend that you join MAPA and read the articles available there and also the AOPAs aircraft ownership sections are good to read through.

One thing you will discover quickly enough is that people are very opinionated about Mooneys out in the aviation world. They tend to love them or hate them and you don't want someone who doesn't like to work on Mooneys working on yours.

Good luck in your search.  

[Ned Gravel]

Quote: ErickR

What is it about mooneys that require a mooney specific expert in order to do a proper annual? I'm not saying your wrong, I'm just curious as this is my first airplane.