Hey guys,
Got my license 2 years ago, about 250hrs logged so far and instrument rated. Been renting a G1000 equipped C172 from a flight club at an insanely cheap price for the past year but I've outgrown it and want to go higher, faster, and carry more weight plus I want all the bells and whistles.
I've been looking at buying my first plane now and am ready to make it happen. I've been looking for G1000, FIKI, A/C and of course speed! My budget has been flexible but hoping to stay between 250-350K.
This lead me to a 2005 Mooney M20M GX Bravo listed for 257K. It's pretty loaded with "FIKI TKS, A/C, Synthetic Vision, NDH, G1000 Avionics, S-TEC 55X, GDL 69A XM/WX, turboGAMIjectors, Long Range Fuel, AMSAFE Airbags". Downside being it has 1,465 hours so just over 500hrs left before an estimated 50K overhaul, it's 4 months behind on the annual and the Oxygen Bottle Hydrostatic test is due.
VREF values it at 253 retail and 205 wholesale with all options and hours accounted for (http://i.imgur.com/IynJO7F.png). I've heard some people say VREF is way outside of what's reality and I've heard others say it's pretty good. Haven't began negotiations yet as I'm trying to figure out what's a good price to get it for.
So with that said, anyone have any thoughts on the target price I should be going for? Also, anyone else have recommendations for a different G1000 equipped plane with A/C, FIKI...etc I should be looking at for 350 or under?
Got my license 2 years ago, about 250hrs logged so far and instrument rated. Been renting a G1000 equipped C172 from a flight club at an insanely cheap price for the past year but I've outgrown it and want to go higher, faster, and carry more weight plus I want all the bells and whistles.
I've been looking at buying my first plane now and am ready to make it happen. I've been looking for G1000, FIKI, A/C and of course speed! My budget has been flexible but hoping to stay between 250-350K.
This lead me to a 2005 Mooney M20M GX Bravo listed for 257K. It's pretty loaded with "FIKI TKS, A/C, Synthetic Vision, NDH, G1000 Avionics, S-TEC 55X, GDL 69A XM/WX, turboGAMIjectors, Long Range Fuel, AMSAFE Airbags". Downside being it has 1,465 hours so just over 500hrs left before an estimated 50K overhaul, it's 4 months behind on the annual and the Oxygen Bottle Hydrostatic test is due.
VREF values it at 253 retail and 205 wholesale with all options and hours accounted for (http://i.imgur.com/IynJO7F.png). I've heard some people say VREF is way outside of what's reality and I've heard others say it's pretty good. Haven't began negotiations yet as I'm trying to figure out what's a good price to get it for.
So with that said, anyone have any thoughts on the target price I should be going for? Also, anyone else have recommendations for a different G1000 equipped plane with A/C, FIKI...etc I should be looking at for 350 or under?