My initial reaction is first plane? save money? if you have to ask,
don't? Buy it if you WANT a project, otherwise no. It's more difficult
to get work done on a plane than you think. Planes consume money, they
don't save money. What about the down time while it gets repaired?
Usually the running costs of an airplane swamp the purchase costs
anyway, so saving money on purchase becomes a moot point. YOu will
spend the purchase cost in 500 hours of flight running costs. Saving a
little in purchase cost is very minor in the overall long term scheme
of things. Planning on scotching on running maintenance too? If you
have the money, buy a plane in the absolute BEST running condition
with the avionics and options YOU WANT and will be satisfied with. If
you want to save a little money, but a hail damaged plane, they fly
just fine and are 10k less. Also, if you want to save money, ramp it,
not hangar it. Also, if you want to save money, buy liability
insurance only and BE CAREFUL. But don't buy a project to save money.
They don't.

david wrote in message ...
I have a chance to buy a 63 aztec in rough condition. It would be my
first plane. Engines have 1200 smoh but one has a cracked cylinder.
(estimated repair, $5000?) Paint is poor. ($5000 estimate?) Interior is
poor ($5000 estimate?). Brand new props. Only 1 nav/com. older avionics.
Auto pilot broken. It was used as a survey aircraft and has a certified
hole cut. I could potentially use it for aerial work as my company subs
about $50,000 in photography per year (5 jobs). I have a good pilot to
split costs with. He has the commercial rating and would fly while
working. Insurance would be $10,000 for the commercial type. I am a bit
concerned about the
$80/ hour fuel burn and the potential for gremlins on an older not so
well maintained airplane. The price seems very reasonable which is the
main motivation for buying. 25,000+5000+5000+5000= $40,000 for a aztec
with new props, survey hole, new paint and interior. Am I missing
something? Is this a good deal? Most of the similar year planes I have
seen are about $80,000. My buddy is an avionics repaiman and would
thoroughly check the plane prior to the purchase. Could it be resold at
a profit if I needed to? Please give any advice as I don't want to make
a big mistake. Thanks in advance.
David

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