WTB: with $80K, looking for a 6-seater

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onwards

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[EXPIRED] WTB: with $80K, looking for a 6-seater

So... I hope this is not against the rules. If it is let me know and I'll remove the posting.

Anyhoo... while my search is still happening in the background, I figured I'd try this sort of reverse auction to expand it. I'm wondering what is the best 6-seater plane I can get for the money. Piper 6/260 need not apply (IMO underpowered), but otherwise let me know (ideally by private message), or let your friend who is looking to sell theirs know. 6/300, A36, 206/210... everything goes, really.
 
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Depends on your mission. If you want to actually haul 6 people, an Aztec/310/Baron would be good, with the Aztec doing it the best, the Baron being the fastest, and the 310 being somewhere in between.
 
Cessna 337 has 6 seats and retains the high wing if you prefer that.
 
guardrail said:
http://www.gardneraircraft.com/planeviewspec.php?id=275 Other than being on the other coast, seems to fit your bill pretty well?

Interesting, this is my uncles old plane. He later took a partner then sold out when he got his 310. We took it to the Bahamas numerous times, I never perceived it as being underpowered? http://www.gardneraircraft.com/planeviewspec.php?id=312
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Thank you, yes, that would fit. I'll get my agent to contact the seller and find out more information. Appreciate the lead!

Edit: oh, it's in FL. I've been staying away from FL planes due to corrosion issues.

Edit2: have referred to someone else looking for C6s.
 
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onwards said:
Thank you, yes, that would fit. I'll get my agent to contact the seller and find out more information. Appreciate the lead!

Edit: oh, it's in FL. I've been staying away from FL planes due to corrosion issues.

Edit2: have referred to someone else looking for C6s.
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The second of those two planes had been in my family for a number of years (I'm nearly 30 and my mom and dad were flying to the Bahamas on it before I was born...). My uncle is meticulous with his equipment, the current owner is the same way, I wouldn't expect anything funny from that deal. The 300 I have no knowledge of.
 
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And... In contract for a 6/300. Gorgeous plane. I hope it checks out.
 
onwards said:
And... In contract for a 6/300. Gorgeous plane. I hope it checks out.
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Not a bad choice... Pictures, or it nev happened!
 
flhrci said:
Didn't take you long to find another plane. Good luck!

David
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True enough, but I have been in accelerated mode recently (for tax reasons) so there were several in play. If this doesn't work out, I will lay off the search for a few months.
 
No, I'm sure he won't go that low, but it would be worth coming over to see it. He'll work with the price some, but it's not a fire sale.

I'll take $80 for the Aztec, though if you want. :goofy:
 
craigvince said:
No, I'm sure he won't go that low, but it would be worth coming over to see it. He'll work with the price some, but it's not a fire sale.

I'll take $80 for the Aztec, though if you want. :goofy:
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I wouldn't call 80k for that plane a fire-sale by any means.
 
NineThreeKilo said:
I wouldn't call 80k for that plane a fire-sale by any means.
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Not a fire sale, but it would be aggressive (I should know by now, let me tell you). 85K is more realistic, but I doubt the owner would consider it.

Looks like I'm SOL anyway. While everything went smoothly enough today - agreements signed, deposit wired in, title search initiated by escrow company - Christmas/New Years makes it almost impossible to find a mechanic in time to do a thorough prebuy while still allowing me the time to bring it back before year's end, which I have to do for section 179 expensing. Oh well. Next year.
 
If you make a deal quickly, you should be able to inspect and close before year-end. If it's a 179 expense and you're cash basis, the placed-in-service rule shouldn't apply. Ask your CPA for an opinion.

onwards said:
Not a fire sale, but it would be aggressive (I should know by now, let me tell you). 85K is more realistic, but I doubt the owner would consider it.

Looks like I'm SOL anyway. While everything went smoothly enough today - agreements signed, deposit wired in, title search initiated by escrow company - Christmas/New Years makes it almost impossible to find a mechanic in time to do a thorough prebuy while still allowing me the time to bring it back before year's end, which I have to do for section 179 expensing. Oh well. Next year.
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wabower said:
If you make a deal quickly, you should be able to inspect and close before year-end. If it's a 179 expense and you're cash basis, the placed-in-service rule shouldn't apply. Ask your CPA for an opinion.
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We are accrual, CPA says must be done by years end. It was a long shot anyway. Might still happen ill know Wednesday.
 
My bad, I got brain/finger mis-fire. I was thinking about paying cash (or having financing in place for immediate wire transfer) and typed something else.

If the escrow company has everything in place from both buyer (agreement, money, final amount of sale, registration, documents in support and written authorization to close) and seller (bill of sale,wiring instructions, authorization to close, final amount due) the transaction can take place anytime until the end of the business day on 12-31.

The written authorization and final transaction amount can be emailed at the last minute without any problem.

onwards said:
We are accrual, CPA says must be done by years end. It was a long shot anyway. Might still happen ill know Wednesday.
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wabower said:
If the escrow company has everything in place from both buyer (agreement, money, final amount of sale, registration, documents in support and written authorization to close) and seller (bill of sale,wiring instructions, authorization to close, final amount due) the transaction can take place anytime until the end of the business day on 12-31.

The written authorization and final transaction amount can be emailed at the last minute without any problem.
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I get that. But the IRS rule says the plane must be placed in service in 2012, which my CPA instructed me to interpret as having been brought back to home base.

The challenge is with the time lines. The only way this would work is to have the inspection done Wed/Thu and let me pick up the plane Fri/Sat and fly it back. Because of the holiday, we won't be finding someone to talk to about this until Wed. So chances are very low that we'll get it done. The paperwork and money are all there, but I just don't think it's going to work out.
 
Maybe not. Some CPA's interpret the reg that that placed in service means use of the plane for the intended purpose and that you can leave on a business trip directly from the closing. If it's close you might ask why not.

Numerous short training trips that start and end at various out-of-state airports have also been used to meet certain property tax exemptions as well, but that's for another discussion.

onwards said:
I get that. But the IRS rule says the plane must be placed in service in 2012, which my CPA instructed me to interpret as having been brought back to home base.

The challenge is with the time lines. The only way this would work is to have the inspection done Wed/Thu and let me pick up the plane Fri/Sat and fly it back. Because of the holiday, we won't be finding someone to talk to about this until Wed. So chances are very low that we'll get it done. The paperwork and money are all there, but I just don't think it's going to work out.
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onwards said:
Edit: oh, it's in FL. I've been staying away from FL planes due to corrosion issues.
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Having owned five planes in Florida, I can tell you that you are missing opportunities due to a preconceived notion that, while it is SOMETIMES true, it is far from ALWAYS true.
 
Ken Ibold said:
Having owned five planes in Florida, I can tell you that you are missing opportunities due to a preconceived notion that, while it is SOMETIMES true, it is far from ALWAYS true.
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Hello fellow Jacksonvillian :) What's your FBO?
 
The problem is that like Memphis in the junk-bond days and Salt Lake City during the real estate boom, a number of less-than-sterling hucksters have moved there to set up shop. Sorting out the good ones is like picking the flyshlt out of the pepper.

Ken Ibold said:
Having owned five planes in Florida, I can tell you that you are missing opportunities due to a preconceived notion that, while it is SOMETIMES true, it is far from ALWAYS true.
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