SailNet Community - View Single Post - THe perfect boat
View Single Post
Old 07-21-2010
bljones's Avatar
bljones bljones is offline
Senior Member
Join Date: Oct 2008
Location: South Coast Ontario
Posts: 8,468
Thanks: 35
Thanked 89 Times in 80 Posts
Rep Power: 8
bljones has a spectacular aura about bljones has a spectacular aura about
solman, don't take this the wrong way, understand that I am playing devil's advocate here, so don't be offended and please play along...
If I am selling a boat and someone approaches me about offering to hold the note and be essentially the Bank of Me, four questions come to mind:
1. Why couldn't this guy get a loan from his own bank?
2. Why should i give him a loan when his own bank doesn't think he is a good risk?
3. What collateral has this guy got that will give me some security?
4. What's in it for me?

Unless you can successfully answer all of those questions and sell yourself as a viable solution to the seller's still-got-a-boat-for-sale problem, i fear you are still just walking the docks and dreaming, kid.
Reply With Quote Share with Facebook