bflynn
Final Approach
Semi-hypothetical situation - I don't know that it's 50k yet.
$50k available to spend on an airplane. Mission is 1) fast travel meaning >=150kts, 2) IFR training, and 3) currency, say 10 hours a month of time. A loan is permissible, but looking to keep the monthly costs under $1200. High time engines are also permissible, but I intend to fully finance an engine fund out of the 50k at $11/hour. So, get a 1500 hour engine and you take $16,500 out for the engine fund.
An early model Mooney is desirable, something with manual gear. Maybe a Bo, but what's the maintenance cost?
Avionics target is GTN-650/750 + adsb transponder. A bluetooth connection for Foreflight would be really nice.
The combination of fast + avionics + low time engine seems to be tricky. I see 4 options, probably could come up with more.
1) Buy an engine with a low time engine straight out. Accept old IFR instruments.
2) Buy the avionics I want, plan to replace an engine within 500 hours
3) Finance the plane, get low time engine, install new avioncs
4) forget the engine fund, buy the best I can.
Your thoughts?
$50k available to spend on an airplane. Mission is 1) fast travel meaning >=150kts, 2) IFR training, and 3) currency, say 10 hours a month of time. A loan is permissible, but looking to keep the monthly costs under $1200. High time engines are also permissible, but I intend to fully finance an engine fund out of the 50k at $11/hour. So, get a 1500 hour engine and you take $16,500 out for the engine fund.
An early model Mooney is desirable, something with manual gear. Maybe a Bo, but what's the maintenance cost?
Avionics target is GTN-650/750 + adsb transponder. A bluetooth connection for Foreflight would be really nice.
The combination of fast + avionics + low time engine seems to be tricky. I see 4 options, probably could come up with more.
1) Buy an engine with a low time engine straight out. Accept old IFR instruments.
2) Buy the avionics I want, plan to replace an engine within 500 hours
3) Finance the plane, get low time engine, install new avioncs
4) forget the engine fund, buy the best I can.
Your thoughts?