Hi Nooky,
From the sounds of it, I would almost guess that you are bottom fishing for an airplane.
At any airport, there are always odd-ball airplanes, usually off in the weeds, that people are looking to pawn off on some unsuspecting soul for a seemingly low, low price. Navions, old V-tail Bonanzas, Luscombes, beater Apaches and Beech Sierras with the goofy Continental IO-346-A in it (this can really trap people).
Sometimes it's something more subtle, like a 1977 172 with a spalled out engine (the only way to catch this is a teardown).
At first blush, it seems like a super cheap way to get into ownership, when in fact, it is a financial nightmare waiting to happen. If some guy/gal is letting a plane go cheap, run, don't walk.
If you arn't bottom fishing, then still, watch out for the oddball aircraft. Some have near fanatical owner support networks, and others don't. If it's not something you see every day (heck, even a Cessna 177 falls into this category), check out the type specific club (there almost always is one) to get the gouge. You can get the low down on parts, support and other items that allow your investment to do something other than keep the tie-downs off the ground.
Nu
From the sounds of it, I would almost guess that you are bottom fishing for an airplane.
At any airport, there are always odd-ball airplanes, usually off in the weeds, that people are looking to pawn off on some unsuspecting soul for a seemingly low, low price. Navions, old V-tail Bonanzas, Luscombes, beater Apaches and Beech Sierras with the goofy Continental IO-346-A in it (this can really trap people).
Sometimes it's something more subtle, like a 1977 172 with a spalled out engine (the only way to catch this is a teardown).
At first blush, it seems like a super cheap way to get into ownership, when in fact, it is a financial nightmare waiting to happen. If some guy/gal is letting a plane go cheap, run, don't walk.
If you arn't bottom fishing, then still, watch out for the oddball aircraft. Some have near fanatical owner support networks, and others don't. If it's not something you see every day (heck, even a Cessna 177 falls into this category), check out the type specific club (there almost always is one) to get the gouge. You can get the low down on parts, support and other items that allow your investment to do something other than keep the tie-downs off the ground.
Nu