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Date: Tue, 03 Jun 2014 07:45:30 -0400
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From: Jeff Turk <jeff@formaspace.com>
Subject: LNC4 - Looking for a great IV-P less than $250k
Thread-Topic: LNC4 - Looking for a great IV-P less than $250k
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Hello All,

I have long dreamed of owning and flying a IV-P, and the moment has come wh=
en it appears I have the means to acquire one. However, as I began to searc=
h for the right plane, it quickly came to my attention that not all IV-Ps a=
re created equal. In fact, the depth of my ignorance in regard to the aircr=
aft has become stunningly apparent.  The result is that I have become tied =
up in a kind of analysis paralysis as I have discovered aircraft which had =
major build problems, significant damage histories, incomplete logbooks, ba=
nk repossessions under difficult circumstances, and so on.

Another issue I have is how to appropriately value the aircraft if I ever d=
o find one I feel safe flying. I can value a Bonanza pretty easily, but giv=
en the tremendous differences in available IV-Ps, I am not even sure how to=
 begin.  I have just reached the point I can afford a IV-P at the lower to =
middle end of the value range, and the last thing I want to do is make a bo=
neheaded financial move.

Some questions I might ask more educated owners and builders:

- Would you acquire a Lancair with a challenging or unprofessional build hi=
story at any price (assuming the problems were corrected)?

- Would you acquire a Lancair with a damage history (say a gear up landing =
or significant damage from being hit on the ramp by another aircraft) at an=
y price?

- Would you acquire a plane with very little TT on it?  There are several a=
ircraft for sale with less than 100 TT, or which have turned into hangar qu=
eens in the last few years.

- If so, what considerations would you have, and what pricing adjustments w=
ould you make?

- Any information you have on prices that IV-Ps have recently sold for, wit=
h times and equipment descriptions would be extremely helpful.  I suspect t=
here is a large divergence between asking prices and realities.


Thanks,

Jeff