Am I nuts to buy a 280C
First I apologize for the long windedness, but I value the opinion of the members of this forum.I'm having a difficult time determining the value calculation of an Enstrom 280C Shark and whether I should commit to an investment in it.I defer to the experienced on this forum. I read the entire Enstrom Corner and learned a lot about the Enstrom and determined if I were to invest in a helicopter it would be an Enstrom. The question is how much I should invest. I am a fixed wing multi-engine commercial instrument pilot with private privileges in single engine land and rotorcraft. I have over 1000 PIC with 150 in R22 and some in C300 and a couple hours in a Safari.I do not see the utility value in the R22 and don't like the idea of retiring a perfectly good airframe before its time. I've considered buying into a Safari due to the operating cost being around the same of my 1968 Mooney M20-F, but I don't think I can do the commercial things to help justify ownership.If the value was right and I was able to find a partner for my Mooney it would be a no brainer and would buy this 280C. I can't believe how dead the market is. I have offered my Mooney over 10 years for $35k half ownership and even advertised I would finance and take payments. If that was available to me at the time I got my ticket I would have jumped on it. I am in my mid 50s and on a fixed income less than $2000 per month. My living arrangement costs next to nothing so more than half is available for aviation. There are no helicopters to rent around here at this time and when there were it cost $280 wet for a C300. I haven't had the opportunity to fly for over 3 years. I can afford the costs without income producing activity with the helicopter, but I plan on generating some income in the way of rides, community services, and skydiving. Although I live in a small farming community in the center of the country I think I can stay busy. You can only justify so many $400 hamburgers. My Mooney sits in the hangar because I no longer need cross country transportation. My thought is that if the selling price is depressed due to the market pressures I think their will be upward pressure in the future when the economy changes, which is almost guaranteed when this administration is removed. I was arranging a 50% partnership in this 77 Shark and at the last minute the seller pulled out and said he had to sell outright offering it in full at $90k. My question to you all is how do I figure a base value if all of the life limited parts are expired, which they aren't, but I can extrapolate from there. I can provide a picture of the time left on the components. The Lamiflex bearings are due in a month. This Shark has been meticulously maintained and looks great. Will it retain its value except for life limited parts?Any comments are appreciated.