I have a mirage 24 sailboat that co-own with a friend. I just found a J24 with a trailer (nice new cradle ride single axle) that I can pickup for $1000. This beats the going rate in my area by ... a lot. However, the boat NEEDS WORK. The hull is fine, the deck I'm not sure about I have yet to see the boat but .. it needs:
rigging (standing and running)
rudder/tiller (by the looks of it, those might exist)
I haven't been sailing that long, but I've been sailing long enough to know that a boat is just a hole you throw money into. I want to get into racing at the club level and I'm thinking this is the ticket. It looks like I can get used sails for under $500. Rigging will run about that much I would expect (maybe I'm wrong) but it's all the deck hardware, engine and miscellaneous that i don't know about. I don't mind work, in fact, I relish in work. I have another boat that sails just fine so working will only keep me from sailing due to time limits rather than not being "seaworthy".
I feel like I'm answering my own question .. you know, the inevitable "is it worth it?" ... "what will it cost?"
Broad questions I know, but please humour me. BTW, I'm 32, not married (though I have a serious girlfriend that loves sailing) no kids, live close to the club (a bike ride in fact) and keeping a trailered boat there is cheap.
I figure if worse comes to worst I can blow it up or give it away and use the trailer for our mirage 24. However, I am a romantic and I love the idea of taking things that are forlorn and forgotten and making them great again.
The seller is asking $1500 for it but after speaking with him I think he realizes that it's just a liability and he wants to get rid of it. Hey, maybe I can get it for even less. Doesn't hurt to try but I'm confident I wouldn't pay over 1k for it.