VansAirForceForums  
Home > VansAirForceForums

-POSTING RULES
-Advertise in here!
- Today's Posts | Insert Pics

Keep VAF Going
Donate methods

Point your
camera app here
to donate fast.

  #1  
Old 01-13-2015, 11:30 AM
ColoCardinal's Avatar
ColoCardinal ColoCardinal is offline
 
Join Date: May 2010
Location: Morrison, CO
Posts: 372
Question RV-7A Should I sell?

I was in the final wiring & debugging of the panel stage of construction of my RV-7A when I suffered the loss of my medical last year. This is the second loss of my medical for this reason so a reissuance isn?t in the cards. I?m totally unsure of what path I should take at this point. I have about $100,000.00 invested in this project.

If you were me (be grateful that you are not), would you sell the project, finish it and then sell it (possibly paint to order) or finish & keep it in the hope that Congress will someday save the day and let me fly without the medical? I also have a Cessna Cardinal that now sits in the hangar (and the hangar). Currently the RV is safe, warm in my basement shop.
__________________
Carl - - Morrison, CO
N16CB RV7A
Airworthiness cert issued 12/24
best X-mas present I could have hoped for!
paid 'til 10-19
Reply With Quote
  #2  
Old 01-13-2015, 11:43 AM
Buggsy2's Avatar
Buggsy2 Buggsy2 is offline
 
Join Date: Jul 2008
Location: NorCal
Posts: 565
Default

I'd finish the project. You'll get a lot more for a finished, flying aircraft. Something is going to give with respect to the 3rd Class Medical and there's a good chance you will be able to fly your RV yourself. If not, you could probably find someone to fly the Phase 1 requirements.
__________________
Ralph Finch
RV-9A QB-SA
Davis, CA
Reply With Quote
  #3  
Old 01-13-2015, 11:54 AM
YellowJacket RV9 YellowJacket RV9 is offline
 
Join Date: Oct 2012
Location: Clearwater, FL KCLW
Posts: 1,330
Default

The common wisdom seems to be that people who build (and complete) airplanes tend to enjoy building as much (or more) than flying. You got this far, so I'm guessing you enjoy the building, even with the uncertainty of flying it. I'd say keep enjoying the build, take your time since there's no hurry now, and when you're done, there's a good chance there will be progress on medical reform. And if not, you still have the satisfaction of seeing it through to completion, and knowing that YOU built an airplane. And you will get more money out of it if you sell, probably.

I think if I lost my medical, after being extremely bummed out, I might enjoy building even more, since I wouldn't be anxious to fly it as well. I would try to build that perfect show-plane, even if it took 20 years.

Good luck!

Chris
__________________
Chris Johnson
RV-9A - Done(ish) 4/5/16! Flying 4/7/16
Reply With Quote
  #4  
Old 01-13-2015, 11:57 AM
rockwoodrv9 rockwoodrv9 is offline
 
Join Date: Dec 2011
Location: Meridian ID, Aspen CO, Okemos MI
Posts: 2,868
Default

I have seen this plane and it is nice. Quality construction. Carl, you are so close, I would finish it first. It may be hard to get motivated, but worth it in the end. There is a great bunch of builders in your area, so maybe one of them would finish it for you.

Best of luck either way my friend!
__________________
rockwoodrv9a
Williamston MI
O-320 D2A
Flying N376E
Reply With Quote
  #5  
Old 01-13-2015, 12:30 PM
SteinAir SteinAir is offline
 
Join Date: Feb 2005
Location: Minneapolis
Posts: 2,478
Default

There is an old running story for those who've been around RV's for awhile...goes something like this: "The first flight of your RV is a $35K flight"...because if you try to sell it now it's a pile of parts that you WILL get less than new price for (probably about $.60-.75 on the dollar) and absolutely zero for labor. AFTER the first flight, we're kind of lucky with RV's in that you might get back close to dollar for dollar on the parts, and maybe even a few pennies for your labor.

Selling it as a project vs. selling it as a flying airplane (in your case specifically) could mean the difference of MANY thousands of dollars - even if it is left unpainted.

Just my 2 cents as usual.

Cheers,
Stein
Reply With Quote
  #6  
Old 01-13-2015, 12:46 PM
DaleB's Avatar
DaleB DaleB is offline
 
Join Date: Sep 2012
Location: Omaha, NE (KMLE)
Posts: 2,331
Default

Did you get denied, or just let it expire? No need to answer here, but it makes a difference in your future prospects.

If you got denied, you're most likely toast. So far I haven't heard of any of the proposed medical changes that would allow someone to fly again after having been denied a medical, even if that medical is no longer needed. But you never know. Although unusual when dealing with government agencies, once in a while a gift drops from the skies that didn't come from the empennage of a pigeon.

If you let your medical expire and haven't been denied, there seems to be much more hope. We won't know until at least April what the FAA is going to propose, but I'm hopeful enough that I (with no medical, and unlikely ever to be able to get even an SI) am still building instead of selling. I'm just holding off on some decisions (like engine and prop) until I see what the rule changes look like. Of course there's a chance they'll look bad enough I have to pull the plug and sell it, but until we know I'll keep plugging along.

The others are correct, if you sell it now you're going to take a significant loss. If I were in your shoes I'd finish it up, let someone else fly off Phase 1 and then look at selling it -- if you have to. The fat lady has not started singing quite yet.
__________________
Dale

Omaha, NE
RV-12 # 222 N980KM "Screamin' Canary" (bought flying)
Fisher Celebrity (under construction)
Previous RV-7 project (sold)
Reply With Quote
  #7  
Old 01-13-2015, 01:28 PM
JanRV6UK's Avatar
JanRV6UK JanRV6UK is offline
 
Join Date: Jul 2009
Location: England
Posts: 470
Default

When you are this close ... complete it ... if you do not have to put a lot more money into it ... why not finish it ? If it was me I would at least get real satisfaction out of having completed a plane ... Loss of a medical can happen to anyone at any time .. Sure some medical conditions ‘could’ be minimised by change in life style .. but even so .. you can never be 100% sure no matter what you do ...

Also ask yourself this .... What will you do with your time if you did not spent it on the RV ? Would you get more personal satisfaction out of doing something else (work / playing golf / fishing ... or whatever ????)

No question that you will get more for a finished plane .. that something ‘almost finished’ ... assuming you do not put a price on you labour ...

Best of luck – enjoy life ... in whatever shape or form it may take ..
__________________
Jan

Slooow RV6, no hole, builder in UK
Paid up for 2015 ...
Reply With Quote
  #8  
Old 01-13-2015, 04:00 PM
Raymo's Avatar
Raymo Raymo is offline
 
Join Date: Nov 2014
Location: Richmond Hill, GA (KLHW)
Posts: 2,340
Default

Option 1:
------------
Finish it.
Call your government representative often, asking them to support 3rd class medical reform (Pilot Protection Act?) and have your friends do the same.
Enjoy the satisfaction of a completed project.

Option 2:
-----------
Quit now and always regret selling your baby.
__________________
Ray
RV-7A - Slider - N495KL - First flt 27 Jan 17
O-360-A4M w/ AFP FM-150 FI, Dual PMags, Vetterman Trombone Exh, SkyTech starter, BandC Alt (PP failed after 226 hrs)
Catto 3 blade NLE, FlightLines Interior, James cowl, plenum & intake, Anti-Splat -14 seat mod and nose gear support
All lines by TSFlightLines (aka Hoser)

Last edited by Raymo : 01-13-2015 at 04:11 PM.
Reply With Quote
  #9  
Old 01-13-2015, 05:28 PM
ColoCardinal's Avatar
ColoCardinal ColoCardinal is offline
 
Join Date: May 2010
Location: Morrison, CO
Posts: 372
Talking

Thanks guys. The consensus is clear - finish it!
I'll try to get a little enthusiasm back and see how it goes. The one thought that I had with selling it with some work still required was that the purchaser could then apply for the mechanic ticket. Guess that's not worth much!
As I mentioned, it is at the electrical programming / debugging phase which is what I like the least. That's probably part of the "wind is gone from the sails" feeling I have. I was very much looking forward to painting it though. I like the artistic aspect and have some experience.
Thanks again,
Carl
__________________
Carl - - Morrison, CO
N16CB RV7A
Airworthiness cert issued 12/24
best X-mas present I could have hoped for!
paid 'til 10-19
Reply With Quote
  #10  
Old 01-13-2015, 05:29 PM
Av8torTom's Avatar
Av8torTom Av8torTom is offline
 
Join Date: Nov 2009
Location: Yardley, PA
Posts: 1,361
Default Finish it

Finish it, keep it, if you can't get a medical find another local pilot who will fly with you as PIC. You'll have pride in knowing you completed a magnificent flying machine. You can get them to share expenses too.
__________________
RV-9A (empennage completed, both wings completed, fuselage and finish kit completed, engine hung, working on panel and wiring)
N677AT reserved
Superior XP O-320, 160HP
Picture log: http://s271.photobucket.com/albums/j...8tor215/RV-9A/
Reply With Quote
Reply


Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

vB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Forum Jump


All times are GMT -6. The time now is 02:02 AM.


The VAFForums come to you courtesy Delta Romeo, LLC. By viewing and participating in them you agree to build your plane using standardized methods and practices and to fly it safely and in accordance with the laws governing the country you are located in.