how far to go to afford a boat - Page 5 - SailNet Community
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post #41 of Old 02-17-2010
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There is absolutely nothing wrong with liquidating unneeded assets and re-allocating those funds to a different hobby.

Let me see if I understand this: This guy wants to liquidate his armory (which isn't a life necessity) and put the funds into a sailboat.

He didn't say "I'm going to blow my kids' college funds on a sailboat" or "I'm going to skip paying my mortgage for the next few months to get this boat".

However ScottyT- The fellows are right, that once you shoot your wad on the purchase price, you won't have enough to bring the boat up to snuff or maintain it once you start sailing it and breaking things.

I bought a solid, 40 year-old cruiser because I knew I could afford to fix it, have it hauled out, etc.

S/V Old Shoes
1973 Pearson 30 #255
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post #42 of Old 02-21-2010
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If I could buy anything at one third it's value, even @ a $20K price, I'd be inclined to do so and then resell it at it's actual value once I got it in that condition, especially if it needs as little as you're assuming. As others said, there's always other similar bargains to be had. You just have to be a little patient and do your due diligence.

I like the idea of asking the owner to finance it, though he'd probably be willing to do it for a shorter period, say 12 -24 mos. instead of the 3 -5 yr. plan. This way, you would have more time to sell your other assets, perhaps holding out for higher bids, and you could sell them off gradually, which might hurt less. Also gives you time to figure out how to get that kidney removed.
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post #43 of Old 11-20-2012
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Re: how far to go to afford a boat

The urge will pass.
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post #44 of Old 11-21-2012
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Re: how far to go to afford a boat

Quote:
Originally Posted by cmbrossa View Post
The urge will pass.
Especially after almost 3 years.


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post #45 of Old 11-22-2012
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Re: how far to go to afford a boat

Raffle off your present boat and the gun collection.
!00 tickets at $100.00 times 2 = your 20 g's.
A 5g gun collection for $100.00 is a pretty good deal; I have no idea what boat you have or if it's worth $100.00???
If your wife won't divorce you, I'd say go for it. At least you'll have a place to stay if she throws you out.
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post #46 of Old 11-23-2012
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Re: how far to go to afford a boat

There will be another and another. Patience.

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post #47 of Old 11-23-2012
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Re: how far to go to afford a boat

I bought a 20k boat that sat for 8 years. Spent another 25 the first year and she needs another 10 to be right. If everything was done and we sold her we'd make out well but don't think that it isn't going to cost you more than you have and in some cases it costs more than you have plus 50% for the divorce.


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post #48 of Old 11-23-2012
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Re: how far to go to afford a boat

I'm with Scotty on this. Trading one spendy hobby for another is a way to change perspective. I'm converting a "collection" and accessories to FRNs and then into a pile of FG and accoutrements.
The difference being; I plan on spending considerably less up front, having 1/2 again available to spend up-front to make sea-worthy, then have a year's worth of fees/maint./storage laid by/paid in advance.
Then again.. I've had to pass on scotty-like deals in the past and have learned (some) patience and just how much of a bite I can chew at once.

I have 5 or 6 pieces that I can trade off for 5K. Excess ammo will account for another 2K and all the reloading/casting gear brought near to 2.5k. Then there's the guns that will *really* bring bux ..... and I have a small collection compared to some of the fellas I know!

I know what Scotty means about deals and current prices. Back when I *had* a 401K, my financial guy's jaw dropped like a brick when informed just how much my ammo stash was worth vs. cost in a matter of a few years. Helluva return!

Best in yer quest,
Paul
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post #49 of Old 11-23-2012
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Re: how far to go to afford a boat

scotty post pics of the boat. And you can find free boats and cheaper boats that are just as good. I got a free boat that when im all done cleaning it up will be worth about 7-10k but i don't plan on selling it so im not worried about cleaning it up. scotty just keep looking around don't get dead set on one boat there will be more.

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post #50 of Old 11-23-2012
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Re: how far to go to afford a boat

o yea by the way is sounds like your going to spend 20k on a project. If i was spending 20k i would want nothing but a boat ready to take to sea or 100ft sailing yatch that needs work. (overdooing it there a little witth the 100ft) But still you get the idea. unless thats a 80ft boat or some really specail yatch it shouldn't be worth 20k

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