Tuesday, August 31, 2004

Chasing the Airplane

I believe we are close to closing a deal on the Pacer. I have the money and the pre-sale inspection is Monday, Labor Day. That’s really ideal because both the owner and I are off work and can both be there when the mechanic does it. I’m hoping to close a deal with the owner the next day.

The big unknowns are the condition of the fabric and the engine. I suspect the engine is okay; it only has 480 hours on it since it was overhauled. The fabric is another story. While it looks okay, I’m anxious to see whether it passes a punch test or not. If it does, the deal is a go at a price I believe the owner will find reasonable. If it doesn’t, I’ll literally have to cut my offer in half; it will cost me $12,000 to recover the airplane. I could cut the cost down to about $3000 by doing it myself, but I’d have to train up and that would also put the airplane down for six months. Not willing to go there. Besides, when I already can’t get everything done, does it make sense to take on anything else?

My wife and I are both looking forward to closing the deal. Unfortunately, even if I do, between getting the proper legal paperwork filed with the FAA and a trip we have upcoming, I may not get to fly the airplane until the week after.