New part owner of airplane :)

Discussion in 'Hangar Talk' started by KaiGywer, Feb 1, 2015.

  1. KaiGywer

    KaiGywer Line Up and Wait

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    So I've had my PPL for about three weeks now, and have been looking at ways to build time cheaply. Well I got an offer to buy into a 1959 C150 today and took it. Just have to get the annual done and a new starter installed and I can start burning holes in the sky :)
     
  2. sourdough44

    sourdough44 Pattern Altitude

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    Congratulations, that should be about the most affordable option of ownership available. Fly safe.
     
  3. Henning

    Henning Ejection Handle Pulled

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    Cool, how did you come into buying into an out of annual plane? Is this one of those deals where the old man doesn't fly it, but doesn't want to get rid of it, and is willing to split the expenses with you? Because you can't beat those deals.:lol:
     
  4. KaiGywer

    KaiGywer Line Up and Wait

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    Actually it's a coworker of mine who was part owner of the plane (four-way partnership) for the last couple of years. He now has his CFI and a job, so he offered to sell me his share for what he paid for it in order for me to have a plane to fly cheaply. The other three owners (of which only one flies at all) flew a total of 2 hours last year... So pretty much I'll be the only person flying it :yes:

    As for the annual...well he thought it was due at the end of February, but upon checking the logbooks found that it was actually due at the end of January :yikes: So it'll be down for a few days while that is completed.
     
  5. Florida Cracker

    Florida Cracker Ejection Handle Pulled

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    Great News! Go poke holes!
     
  6. mjburian

    mjburian Cleared for Takeoff

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    Sounds like a sweet deal to me! Congrats on the purchase and have fun flying YOUR new airplane!
     
  7. Unit74

    Unit74 Final Approach

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    1959 C150 4 way partnership?


    Was it buy into a plane or go to Taco Bell for lunch that day? :rofl:
     
  8. sourdough44

    sourdough44 Pattern Altitude

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    Are you saying $15k is to much?
     
  9. KaiGywer

    KaiGywer Line Up and Wait

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    :rofl:

    As I said, I did get a good deal on it ;) If I end up liking this plane, I'll prob end up trying to buy out the other three shares and also installing a transponder.
     
  10. Unit74

    Unit74 Final Approach

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    We have a local kid who just got his ppl. 18 years old. He bought his instructors plane out from under him! It was a 150 as well.

    Ride a bike to work and school, fly a plane on the weekends!!!!
     
  11. jordane93

    jordane93 Final Approach

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  12. Henning

    Henning Ejection Handle Pulled

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    It better be in super condition and well equipped for that! That buys you all of a 59 C-150.
     
  13. KaiGywer

    KaiGywer Line Up and Wait

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    She won't win any beauty pageants anytime soon, but she flies great :)

    [​IMG]

    [​IMG]
     
  14. LDJones

    LDJones Touchdown! Greaser!

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    Anything that you can fly beats something you can't. That said, I hope you got into your four-way for under $3K....and that's assuming reasonable time left on the engine.
     
  15. frfly172

    frfly172 Touchdown! Greaser!

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    Congrats,go out and enjoy yourself,great little airplane for building time.
     
  16. KaiGywer

    KaiGywer Line Up and Wait

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    Yup I did. And the engine is mid-life.
     
  17. Unit74

    Unit74 Final Approach

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    Fly the wheels off it! When it comes to run out life, sell it for scrap and double your money!!
     
  18. JasonM

    JasonM Pattern Altitude

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    LMAO!!!!!! :D :rofl: That was good...
     
  19. James331

    James331 Ejection Handle Pulled

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    Meh, the really nice ones go for 20-23ish.

    15k is about average for something that wouldn't be considered a "project".

    Heck, get a slant tail, with crap paint and interior, have a auto dude repaint it with the new style cessna tribal swoosh with pearl, basic grey or black cloth interior from a hot rod shop, and a super basic used six pack off eBay with a garmin 250XL, and some cheap LEDs, betcha you'll sell it to some San Fran or NYC office type for 30+ :rofl:
     
    Last edited: Feb 4, 2015
  20. rbridges

    rbridges En-Route

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