Boat "Flipping" - Page 2 - SailNet Community
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post #11 of 22 Old 09-01-2007
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I didn't mean to imply that everyone whe ever made a buck flipping a boat is a jerk; I meant that to do it constantly as a successful business doubling your money on every boat you would probably have to prey on people. It's like the cartoon of the buzzards where one is telling the other he is going to go kill something. You can wait for the good deals or majke the good deals happen. The latter is when I think you can end up crossing the line. And if you buy a dog, you dress it up and make a buck anyway.
I think I could sell my recently purchased boat at a profit if I wanted, because I shopped hard, but I don't think I could constantly buy and sell and make much.
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post #12 of 22 Old 09-02-2007
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Practical Sailor magazine did an article several years ago about the dozen boats they have purchased and refurbished. Yes they made money on several boats but overall they lost money. And these guys are the experts. They state unequivocally that long term you can't make money fixing up old boats. I think the author was Dan Spurr.
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post #13 of 22 Old 09-02-2007
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In a good market, many boats will sell based on cosmetics. So you shine up the hull, put in new cushions and try to hide the blemishes. Bingo, you'll find a suc, oops buyer, to give you double your money. And hope the buyer doesn't hire a good surveyor
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post #14 of 22 Old 09-05-2007 Thread Starter
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So as a buyer, I should probably get this course to learn how to find a good deal and instead of selling the boat, just sail the crap out of it and enjoy it.
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post #15 of 22 Old 09-05-2007
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Why, if the techniques are so good in this book, CD or whatever, would the authour ever tell you?

You are competition for him, surely? Why would he tell you how to do something that was so successful for him? Would he rather sell the book, or make money selling boats.

This looks very suspicious to me.

It's much better to spend the money on your own boat, and keep it.
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post #16 of 22 Old 09-05-2007
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I have been doing that boat flipping for years. It works, really!!!

Bought my catalina 250 for $35,000, sold it for $18,000. Bought my Trophy for 36,000, sold it for 28000 and a Dodge pickup truck thrown in so they could haul it back. Then I started REALLY realising what a great gig this was and how much more money could be made by being even smarter. Thus, I bought my Catalina 380 for 220,000, and (quietly, so no one is listening... I am going to write a book on this to get rich) traded it in on a Selene 47. Of course, the normal asking price was raised to 100,000 more than the sticker price... but that just meant I had more equity in the boat.

In the end, the Selene deal fell through because the stink pots did not want a sailboat on trade. THey had 4 offers on the boat (was in the Ft. Lauderdale boat show 2001). So, forget them... I sold the 380 for 160,000 and bought a Catalina 400.

I am anxiously waiting the moment when I can finally retire and push this boat off on some poor unsuspecting sucker too...

Now THAT, my fellow sailors, is how you make money on boats!

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post #17 of 22 Old 09-06-2007
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I think it doable on the small stuff like everyone here has illustrated but its a volume game at that point. I even got great deals on the boats I have purchased for myself but ended up keeping / using for years. I think the difficult part comes with the 40+ foot boats where you are putting up serious money in hopes of serious bad hit there and your at a loss for the year.
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post #18 of 22 Old 12-27-2007
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Flipping boats as a business?

I ordered the course and thought it was great. I had a couple of questions and they emailed me back right away. Good folks - seem to be doing well at it.

It's not a book about fixing up old boats though! Plenty of materials about that already out there, but even they say that most fixer uppers are not so profitable.

A couple of quick points in response to the skeptics - because I was skeptical at first too.

Getting a deal doesn't mean ripping somebody off. How about estate sales, auctions, etc. I just saw a Newportt 30 close on eBay for $2190, or somthing like that, and it was pretty clean from what I could tell. I also saw an Allied Ketch, 31 feet, close for about $6000.

Providing a course about flipping boats doesn't mean these guys aren't still active in the game. There are more deals out there than anybody would have time to handle. Besides, I'd rather learn from somebody whose actually been doing it, then trying to figure it out on my own.

Anyway I figured what the heck - Maybe it's not for everybody but I'm glad I got it.
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post #19 of 22 Old 12-28-2007
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I also purchased this several years ago. Not so much to flip boats but more so to learn how to get a good price on a boat whe purchasing. Basically it is this, buy cheap, usually when someone is in despirate need of getting rid of the boat, strip if of all gear, shine it up as best as possible. then list the boat and gear separately for a high price and wait. , wait, and then you wait. in the mean time keep shining when the boat gets dirty and keep up with posting and advertising in papers and on internet. and then wait. while waiting be sure NOT to calculate how much it is costing you to keep that boat at the marina, especially if it is a second boat how much supplies are costing and definately dont calcualate in your time. One important thing they say is you must only buy boats you would be happy owning if they didnt sell. Obvious reason for that .
It does have some good tips and point some things out i didnt think of. However when if first got into boating i met two guys who i was in awe of. One had a 45 bertrem nice boat. they said they flip boats , told me they just found a gem in the rough, were going to buy it form an older lady who didnt know the value of the boat and were going to fix it and sell it. In the 3 years that had passed one guy had two boats, one he had for sale for 2.5 years and it was sitting on the hard for all that time costing him $ just to stay there. saw the price drop 2 times. Also the bertram he has had for sale for 2 years and uses it but still owns it. Never heard of the gem any more and the other guy is still trying to sell the boat he fixed and had for sale 3 years ago.
Needless to say i am not in awe of them any more.
it is possible to flip boats but can be costly to do it and it is a gamble. By the way the odds are not in you favor.
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post #20 of 22 Old 12-30-2007
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Caveat Emptor,
Both of the boats you mentioned on ebay were hurricane boats I don't know the specific condition of those.

I do know of one on ebay right now, a 27footer, in texas, they're asking 3500 or close to it. looks like a good deal, right?

Ummm, what they don't say is that boat had to be pumped out twice this year by the marina to prevent the keel from sitting on the bottom of the lake.
What you don't see is ANY photos of the cabin any lower than your chest. (theres a reason for that)
Most eyes looking at the photos may not be able to tell that every portlight leaks (and probably core rot) more than a kolher shower. The chainplates and bulkheads look like they were a decorative waterfall. The engine has been overheated based on the observation of the black intake/exhaust.
but hey, its only 3500 and the engine runs.
no, i'm not bidding on it.

We are not primarily on earth to see through one another, but to see one another through

Some people are like slinkies: not really good for anything... but you can't help laughing when you push them down the stairs

Last edited by cardiacpaul; 12-30-2007 at 11:17 AM.
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