Ok Tim,
I was out of town for a few days so let me expand on my thoughts here. Based on your description, you will not have long before you will be forced to come up with BIG money to keep this plane flying. It never waits as long as you think it might.
I've said it before....when I bought LuluBelle I knew I would want to make improvements over time. At $14,000 she was not a show plane but she did have a low time engine (400 hours), and I THOUGHT a good airframe (I did notice some minor surface corrosion issues). I figured over the next 5 years or so I would save up for a new paint job, windows, and some panel and interior improvements. Her first annual 10 months after I purchased her didn't reveal any major surprises. It was about $1600, but there were a LOT of little gripes my A&P cared for. For a "first annual" I thought it was OK. We gave her a good soaking in Corrosion X too.
Fast forward to her second annual. I pulled off the inspection plates and noticed some bad flaking on the nearest wing rib...then I put my finger right through it. The wing had to be rebuilt, the paint job could no longer wait, so I went ahead and did the windows and replaced the warped wing tips, rudder cap, dorsal fin, etc... Along with my A&P's other work the annual that year cost me $17,000.
Tim if you get that plane down here to Florida you'll have to immediately address any corrosion that has started. You are talking thousands. You could spend those thousands on a higher priced 150 that needs no immediate triage.
MANY 150-152 owners have more money into their airplanes than they are worth. If I were forced to sell LuluBelle...I would be lucky to get $18,000. I've got over $31,000 in her in JUST the purchase and that single annual. You would be wise to find one for sale like her that has already been through a couple of painful annuals.
Last edited by Sandra_Krier; 07/06/09 02:13 AM. Reason: spelling
