Re: How did you get the money for your first sailboat?
I rolled some spare change. I own my boat. It's not the other way around.
I was dumb when I got out of college. Credit card debt, loans for stupid stuff and I gave away a perfectly good car to take out a loan on a new car that cost 3/4 of my yearly salary as a high school teacher.
Eventually I pulled my head out of my arse and sold the "new" car and got an $800 Volvo. haven't looked back. All subsequent cars, computers, motorcycles and boats have been CASH. The last two (within 6 months of each other) were brand new. Haven't carried a credit card balance since '04 and our only debt is a 15 year mortgage on a 5 year old house. You can't borrow your way to financial freedom.
You'll have just as much fun on a $1000 21 foot trailer sailer with orange plaid cushions. And if you buy it right, you can sell it for $1500 when the next "better" boat comes along.
Just some advice from someone who has been there. I didn't listen to it either.... Have fun either way!
Keep the expenses low and the good times high.
S/V Over Easy
PA Freshwater / Chesapeake