First Purchase Price Question

Jay, et al:

Well, all along I figured it would need some major work. The A&P even found
a prior illegal repair (bondo!) that will result in one portion being
re-skinned. I just thought that the owners would realize they were throwing
money down *their* pit for insurance/full hangar, want to get out, and want
to deal with a cash buyer. HAH! As I said, 1/3 of the group had the
"correct" (i.e., agreed with me) viewpoint, but 2/3 still had unrealistic
dreams of market value.

Yes, I count myself lucky.
Carl

"Jay Honeck" wrote in message
news:y6Qmb.33959$Tr4.60835@attbi_s03...
UPDATE: Between the time the original note was posted and now, the deal
has
fallen through. Owner decided the plane was worth more to him even with
adding all the rework rather than selling for a loss.

Carl, you are a lucky man. You can *that* close to falling into a money
pit
of immeasurable depth.

As Dan said, it's a buyer's market. You will find a "cream puff" out
there
somewhere, and it probably won't be advertised. Just be patient.
--
Jay Honeck
Iowa City, IA
Pathfinder N56993
www.AlexisParkInn.com
"Your Aviation Destination"