I have been offered a good deal on half of a well equipped PA46 late 80s Malibu with 550 - price for half about the same as the a36 whole

Has monitor and gps and adsb and gamis and monitor stuff done, the a36 doesn't

The PA46 is 250 hrs from TBO, the A36 is 1200 or more hours TBO

Really like splitting costs with a partner, and haven't found one yet. My trips are generally less than 600NM. Useful load of the Bonanza with similar fuel is a little better...

Thoughts?

Sounds to me like someone is looking for someone to split the cost of O/H on the Malibu. I can't remember the estimates I've heard but I recall it was a hefty O/H.

Turbo 550, same $$ as a TN bo, nothing special.

Yes, i would offer him half of current appraised value and then cap your OH contribution to 125/1600 of cost

Get into the partnership as long as you get in fair. The partnership only works if you have a clear and defined exit plan if 1 needs out...

You wouldn't think so, but...

TSIO-520-BE (original Malibu engine): $73,253

TSIO-550-C (550 upgrade): $68,741

IO-550-B (A36 stock engine): $41,200 (no turbo or controller OH).

There is a difference. I've noticed that PA46 engines cost more. Perhaps TCM is trying to make back money lost when they first came out and had so many engine problems, or maybe they perceive higher liability to the PA46. For whatever reason, overhaul are more expensive with the PA46.

Figures from factoryengines.com for "rebuilt". Includes turbochargers and controller overhaul where applicable.

Mike C.

Do you want to travel reliably?

If so, pressurization and known ice are game changers that significantly add to the utility of the airplane. Pressurization, in particular, will be difficult to give up in the future.

If you can work out contention for the airplane during high demand times (say around holidays), then I'd go for the PA46. Partnerships work best if the trips are mostly day trips or otherwise not often away from home base a long time.

The correct buy in should be half the value of the airplane if it were to sell on the open market. Realize that asking prices aren't typically the actual sales price.

Mike C.

Beechtalk is great! Thanks for all the great responses! I am 6'4" so I have to see if I fit...I really like the idea of a partnership so I will either go with this or have someone buy into the Bo

Half the current appraised value with a runout engine? Then he pays half the OH.

Half the current appraised value with an OH engine? Then the other guy pays for the OH.

The appraised value changes with engine state. If the value goes up by the OH costs, then no net change in cash outlay. It probably isn't one to one, but there is a substantial value gain on engine OH.

There can be advantages to lower purchase price and then doing the OH. Sales tax on plane purchase is less, and in some states there is no sales tax on plane parts, the overhaul. Also helps with depreciation in that you can often expense the engine but not the airframe.

Also, it might be good to be part of the OH decision process so that you know what you are paying for.

Flying past TBO is also an option if engine health indicates it. Those are "free" hours.

Mike C.

I disagree.

When it comes time for an O/H, you need to assume you'll be on the hook for 1/2 the cost.
However, the value of the plane, and the value of your 1/2 share should reflect the upcoming engine O/H.

I agree with Mike, a pressurized aircraft (with ice protection) really changes the game in terms of capability.

It also means you are going to have to deal with higher operating (and training) costs (there is more stuff to maintain on a Malibu than a Bonanza).

Partnerships are great if your utilization is fairly low, and the cost of your target airplane is high. But it takes the right match to make one work. You need to have compatible philosophies on ownership or even the best economic sense won't overcome the inevitable heart break and rift.

I think at 6'4" you might prefer the Bo over the Malibu. I could barely scrunch in that cockpit.

Pressure and Ice are nice though.

I've heard some nightmare stories about MX costs on Malibus. Is a 2x cost factor high or low on MX?

Malibu has a lot of parts a tn bo doesnt

$30k windshield every 10 years
Multiple heated doo-dads
Cylinders that live in thin air and dont ever make tbo
Boots
Generall full copilot panel


Plus a less robust gear system and many more proprietary parts with 1 supplier

Its more like a duke that takes 15gph than a bonanza

You Better check the cost of annuals, maintenance and yearly training. The Bo owned solely may look cheap compared. I thought I might want one and then my friend bought one about five years ago. The maintenance alone would have broken me :-)

Another thought, we all hear about the "first" annual of new ownership. Will you be getting that bill, no, but will you eventually get that bill.....very possible.
Has a Malibu specialist been doing the work ?
I know there is a Malibu specialist that is mobile and does annuals and I would imagine he does prebuys. Should you treat this any different than going out and buying a plane just for you....no....it will be harder to do but it should be done like its a completely new purchase meaning buyer beware, protect yourself, get a prebuy.
Good luck.

Ask to see the books on the plane for the last 3-5 years. All the expenses it has had.

That will get you mentally prepared for what it costs.

Also, the care and organization of the invoices and documents will tell you something about the partner.

Mike C.