Mooney rebuild project. What to do?

[ryan1234]

I read the M14P is considerably less expensive to maintain and operate than the 540.

It is... most of the work you could do yourself with no problem - they were designed to be taken apart, put back together, and operate out of fields with little in the of facilities. It may be slightly more MX... but not quite as expensive...

Plus who can resist the sound and smell of the radial?

With the AEIO-360, which is a great engine, I think the prop would need overhaul every 200hrs or so from competition use (not sure on that, but that's what I've heard) - where with the M&T composite for the M14P it wouldn't be so much.

 

[WacoFan]

The Pitts is obviously the coolest machine, and your goals as stated are to fly airshows, etc. The Mooney won't help you with that. I will say that you seem to have your mind already made up regarding what to do about the situation and you are looking for positive affirmation of your decision. I guess that I would start thinking about the Mooney as a tool to help with the Pitts. Is there any way to go cash-flow positive on the Mooney? If you part the airplane out you will recoup some of your costs for the plane, but potentially still have a loss. If you finish the plane, shine it up, and sell it as a flying airplane what would that do to the value? I'm not sure what you have invested in the Mooney so nobody can really give you a definitive answer on what to do - the only answers you will get are emotionally based responses based on the fact that Pitts' are cool and Mooney's are not as cool. I guess I would transfer the thought process - look at the Mooney as a tool to help you into the Pitts, and do whatever you can to make that Mooney a tool to help. If the answer ends up being that the Mooney would help you more financially as a flying airplane to sell, ultimately that would make your Pitts experience better. Not as fun short-term, but you get what I'm saying.

 

[TUCKnTRUCK]

The hard part about turning a profit right now on the mooney, is the general price. You Can get an "ok" M20E with speed mods and usually some form of GPS for 40-50k... The E is faster, than the C... If you buy one taken apart to project it back together, thats going to eat up a decent amount of money...

I'd be interested in looking, as we have been shopping for a mooney recently, But I am really looking for one of the E's with speed mods, or an early 201.

 

[Okie_Pilot]

Sorry, before i was asking what kind of" money" as in cash not what kind of mooney... easy to mistake the difference though

Well mooney and money go hand in hand! I grasped what you were getting at! Lol.

I guess that I would start thinking about the Mooney as a tool to help with the Pitts. Is there any way to go cash-flow positive on the Mooney? If you part the airplane out you will recoup some of your costs for the plane, but potentially still have a loss. If you finish the plane, shine it up, and sell it as a flying airplane what would that do to the value? I'm not sure what you have invested in the Mooney so nobody can really give you a definitive answer on what to do . If the answer ends up being that the Mooney would help you more financially as a flying airplane to sell, ultimately that would make your Pitts experience better. Not as fun short-term, but you get what I'm saying.

Wow, thanks for that Waco. We don't have all that much tied into it right now, I honestly believe if we found the right person we could recoup most of our investment which is what I'd really like to do. Honestly, I don't know if I have the financial means right now to completely refurbish it entirely, which is the way it will be headed now.

The hard part about turning a profit right now on the mooney, is the general price. You Can get an "ok" M20E with speed mods and usually some form of GPS for 40-50k... The E is faster, than the C... If you buy one taken apart to project it back together, thats going to eat up a decent amount of money...

I'd be interested in looking, as we have been shopping for a mooney recently, But I am really looking for one of the E's with speed mods, or an early 201.

Yeah, you can find some Mooney's at reasonable prices if your willing to sacrifice a little in one area or another. With this one apart like it is, you can do whatever mods you'd like to do with it. Wing tips, wing-root fairings, cowl mod, put the 201 windshield on it. Do whatever you'd like to the interior, and avionics. I don't know what your maintenance knowledge is, or if you have a mechanic, but it is a fully disassembled airplane that will require some knowledge and bloody knuckles to put it back together.

 

[WacoFan]

Wow, thanks for that Waco. We don't have all that much tied into it right now, I honestly believe if we found the right person we could recoup most of our investment which is what I'd really like to do. Honestly, I don't know if I have the financial means right now to completely refurbish it entirely, which is the way it will be headed now.

Well...here's a "WacoFan rule of thumb" - never EVER turn down, or avoid a profit potential, particularly if all that is required is work. The world is full of lazy morons that dream about things but never accomplish anything because they are lazy. Even if you have to avoid "fun" in chasing profit - do it. More profits mean bigger "fun" later.

Now, that said, you are clearly not lazy. The Mooney sounds like the start of a money-pit and even if you lay out the financial resources to get it saleable you may only break even. From what you've said I would say cut-bait, recoup the cost and put it in the Pitts. Always remember - profit is highly important - but profit margins on something that hold you back from what you want have to be higher to compensate you for deferring what you want. Just my $.02.