Great info from everyone. Plan and save, but don't forget to have fun too. So, here's the status on buying N8138U which prompted the question: planning for the unknown $$$...
I'm hoping for good weather this Friday, since I then make the trip from Charlotte to Arkansas to see N8138U for the first time and either walk away, or fly away! That's the moment of truth, when everything I've learned about this particular plane, it's equipment, history, ADs, and quirks comes together!
As I see it for the first time, I have several key details to look for (thanks to Mike Arman's book). I'll have the final report from the A&P who's going over it and of course, I'll take it for a spin. So, based on my experience (very limited) and my flying friend's knowledge(I did mention that I'm still a student along with my daughter), I will be either a new "owner" or still looking...
One of the important things I've gathered from reading the posts throughout the forum is the absolute need to take a cold hard look at it from several positions, financial, practical, economical (vs renting) flexible (can I eventually sell it) and finally, do I really just gotta have it!
Anyway, since I'm a relatively new member of the club (gee a whole month) and have been bitten by the 150 bug in general, if it's not N8138U, then it'll be another. But, if it is then... I've got Shelby at TNWings.com ready with a fresh set of seats and carpet to drop in on the way back
Either way, I feel like I've got a new set of friends to chew the fat with! Next post from me should be a +/- on the deal.
