I bought a C-150H for $14,250 (an impulse buy from a local person), flew it for two years until the engine crapped out, and have since sunk $35K into it (brand new engine, prop, etc., etc.)
I'm fairly happy with it. I maybe could have gotten by with an overhaul vs. a brand new engine, but all in all I like the plane. If I had to go it over again, maybe I would have prefered a much lower time, cleaner "turn key" airplane that had been hangared all its life, etc., but I probably would have had to pay much more up front -- $25K or more. You generally get what you pay for. Are you a mechanic, or do you have a mechanic in mind that will do repairs for you?
Sorta, but he needs to make a living like everyone else, so anything will cost, He's a great honest guy but So Fla is expensive (think shop rates in the $80-90 range!
That makes a big difference.
Do you want to restore the plane to like-new condition - -
NOPE! The days of making something perfect are behind me, as the manager of a flight dept I am not sure it can be done, at least not on my meger means. I want a good reliable airplane to bounce around and fly the way God intended (aka not at 37,000 feet!)
as I would like to do some year? If so, I'm sure you are intelligent enough to know that that would cost tens of thousands of dollars -- and you probably could never expect to get that money back in resale.
As the kids say, 'True Dat' I am not looking to the airplane as an investment, just a sunk cost, mid life crisis or some such maybe teach my wife how to fly (that outta be fun she;s an accountant) and of course I have to fly the airplane around the country, my version of an RV trip I guess, wife understands and is supportative (thank GOD!)
Maybe do as Bill suggests -- get the plane annualled before you buy it,
I told the seller that was the ONLY way I would buy it.
or at least get an estimate for how much an annual inspection would cost.
Thank you all for the support, advice and opinions, it is appericiated much more than you might ever know!
Best
Tim
