SailNet Community - View Single Post - Is a 44' too much?
View Single Post
  #39  
Old 06-09-2012
Stumble Stumble is offline
Senior Member
 
Join Date: Feb 2012
Location: New Orleans Louisiana
Posts: 2,077
Thanks: 6
Thanked 55 Times in 52 Posts
Rep Power: 3
Stumble is on a distinguished road
Re: Is a 44' too much?

After Katrina our Irwin 54' was toteled by the insurance company... The guy who bought it back figured it just needed a new bobstay, a new shaft, and a paint job.... So far four different owners have spent a total of twice what the boat was worth before the storm, and just have to rebuild the cabinetry inside to finish the repairs.

Be very careful of these types of deals, they can be huge windfalls, but are also huge risks if you don't know exacally what is wrong, how to repair it, AND are capable of walking away from the loss if the damage is more than expected. Like any other high risk, high reward, it's only worth it if you can afford the loss.
__________________
Greg Rubin
Attorney

Last edited by Stumble; 06-13-2012 at 01:44 PM.
Reply With Quote Share with Facebook