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post #11 of 13 Old 02-25-2003
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Looking for Fixer upper Cruising Sailboat

We were looking for the same boat last year. Ended up spending $33k; will have over $75k into her (purchase price + materials) when done. It was a cash flow thing, otherwise we would have spent the $110k+ for a comparable boat and been away last year. If you count our labor @ $40/hr, by the time we''re done,the total would be around $190k. On the other hand, since we completely doing every major system on the boat ourselves, we''ll be in much better shape when something breaks than if was an unknown system.

That said, I agree with the "walk the docks" advice. Try Indian-something in the middle of Florida. Indian River? It''s in the middle of the state and is chock-a-block with bluewater crusiers that look like they''ve been there a long time. Might be some good deals there.

You can see our project at www.sailnamaste.com

Good luck!!!
Stacey
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post #12 of 13 Old 02-26-2003
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Looking for Fixer upper Cruising Sailboat

I was looking for the same thing, but the broker kept leading me towards boats that were actually close to being ready to sail away. All said and done, I spent more, but got much more boat for my dollar. Now, with a boat loan, I am off sailing for 500.00 a month. Taking the "fixer-upper" route, I would be spending over 250.00 just for storage, I could only imagine shelling out thousands of dollars for equipment and parts. bite the bullet, do the math, then buy a boat that is ready to go. BTW, I bought a boat that was someone''s dream gone bust. Those are the deals and they are around, you just have to look.
paul
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post #13 of 13 Old 02-26-2003
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Looking for Fixer upper Cruising Sailboat

You were lucky!! You found a broker who knew which way the wind blows.
You are far better off spending a little more and getting a boat that is ready to go.
Most of the upgraded items you are paying pennies for and the sweat labor the previous owner put into the boat is free!
My personal experience with our Boat Teacher''s Pet III bears this out. I spent $50,000 over two years, 1998 and 1999 to
put on a new pilothouse a new forward hatch,watermaker,solar panels,new sails including a genniker,rewired the boat and installed a new engine,davits,solid upper lifeline and electric anchor winch.
I''ll be lucky to get my asking price of $37,500 without having to carry a contract.
YOU MADE A GOOD DECISION.
Gene Teacher''s Pet III and the Windjammer, First
Born.
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