Originally Posted by CheckedOutRob
Wow -Thanks to everybody for your great insights!! I think many people have been in my shoes. JulieMor you have some wise words and you seem to know finance! I've taken everyones input and now am comforted by the fact that I'm not off my rocker. Yes, I'm a serious buyer. I realize that my purchase price of apx. $170 will likely need another $50k all said and done before I'm ready to cross oceans.
I guess it may just take a LOT LONGER than I was expecting. More than the year I've put in. I think another poster is correct in that you have to be in the right place at the right time and be ready with cash in the correct market. Ive got the cash. In this market it seems boats would likely be neglected due to distressed owners making up the bulk of sellers. The corollary would be a great market with well maintained boats at commensurately higher prices.
I've tried but found it almost impossible to deal with a seller directly. Brokers are very protective of any identifying info. I've found a few boats (I've walked the docks in several cities) and when I find a boat I have left a message in a plastic bag tied to their lifeline. No luck there so far. Asking other boaters on the dock around the marina about the owner usually gets nowhere. Most folks with boats nearby usually say "I never see them here". The dockmaster will not reveal any info for legal reasons.
I've asked several brokers to go through their past clients and find someone with the boats on my target list and ask if they might sell. That has not come up with any boats.
Know of anyone out there with a Nordic 44? Norseman 447? Passport 40? If they have cruising gear on board I'll make them a sweet offer :-)
I sure hope you used a different tone in the notes you left, otherwise you are guaranteed not to get a response.
You can look at it in several ways. I'd still put an offer out, but I'd lower it with what it would cost to get it ALL up to a level you like. Most will refuse, and yes, it takes time and yes it is frustrating.
But, you might find a desperate seller and get it for a steal.
Boats are NEVER perfect. They always need some work. It can always be improved. The only really good boats are not for sale, or were just sold.