66 ft Bruce Roberts hull to gut and renovate...is this a good deal?
Hi There -
My husband and I have run across what looks like a nice deal for a solid hull, and we're all kinds of excited to be purchasing it. We're wondering whether our excitement is short circuiting other parts of our collective brain.
Because this is my first post, the forum software stopped me from submitting a link. If you go to ebay.com, it's item number 200394919354.
The seller is knowledgeable and willing to help us get it to Chesapeake bay to a haul out where we can gut it and work on renovation over the next year.
What would be a reasonable price to pay for such a hull? I've worked in boatyards and done a lot of construction, so I'm not afraid of the renovation or work. We have a flexible schedule so we can devote a lot of time to it over the next couple of years.
The current plan is to get it to a point where we can liveaboard, then add the sails in a year or so.
We were going to buy a house to renovate, but this looks like it will ultimately be more wonderful, and we've been talking about doing it for a few years now.
Are we nuts? Is it even reasonable to think about doing this?
The second question, besides our questionable sanity, has to do with building the interior so that we can charter it later on. How do I find out the regulations for that? I used to work on a schooner, and the captain told me that she had been built for charter, which made it more expensive - if he sold it, it would go for something like $160k whereas a similar boat without the charter building would run around $80k. Since we're gutting it, I think it would be wise to look into doing that for this size boat.
What other due diligence will I need to do?
Do you have any information about the builder? You may not even be able to get insurance on it. It looks home built. I think a fair price if he gave it to you may be to expensive. There is not much info listed and very few photos and the few dont show much. It is not like a house and if any leans are on it you may be responsible for them. It may be a great deal. But you cannot run into this with out all the info. He has to sell it, if it had any value he would not let it go. It is his problem and it will cost him alot to dispose of it and is trying to sell it to get rid of a problem. Dont rush into this as it could cost more than you want. If you cant look at it and get some kind of profesinal advice, walk away. If you have never done this, please get some advice.
This might help:
Here's the link: 66ft World Cruiser Rugged Expedition Build BruceRoberts:eBay Motors (item 200394919354 end time Oct-22-09 13:14:11 PDT)
Completing the boat will cost into the six digits; the mast, boom, standing and running rigging alone will cost you more than the price of a nice boat. Fix it up and you'll still have an unattractive, near impossible to insure and tougher to sell piece of s**t on your hands. Run away from it. Sorry for the reality.:o
Well you asked..... Yes you are nuts! :D I live very close to Delran. I could go look at it with you, bring ladders, lights etc, Call his bluff, and go see it after the bidding ends! It's not the only boat needing "TLC" and I'm sure you can do much better checking the back yards of Marinas near you. #1 issue; You need an out of the water survey. Storage around this area of the Del river starts around $36 a ft! a quick haul for that size is also going to be very pricey. IF you can find a marina that will even consider it. The bottom is more then dirty, That thing is a mess! Owner lied, it's going to cost thousands to get it to the bay. Just the fuel would be $500 for a boat towing it. I betting you will need permits and more, maybe even a tug boat! Easily, 250- 300K to get it ship shape. Bottom is almost positively rotted or badly blistered. The deck looks like a really bad overlay of gawd knows what. Cheribini Yachts is in Delran and they do high end restorations. I'm guessing that this boat is in the same area, there is also snug harbor, G. winters sailing, and riverside Marineas. I'd call the NJ state police and or the CG to find out if there is any legal issues with the boat and or moving it downriver and across the C&D.
I hope you come to your senses soon!
PS: it is not a joke! when the owner says it has to be gone by end of Oct. they mean it! the NJ state police enforce the water ways as well as the CG, the CGX and the PA fish and game dept. BTW today is the 19th!
Ask yourself one question.....Who would charter that even after the 200k your going to have to spend on it ( Minimum ) getting it all dalled up... when they can charter this for the same money?
I would swear I saw this boat in a post here about 2 years ago. I (and many others) told him to run, but it was too late.
Run before you get sucked in. The boat is worth $0 on a good day. IMO you're getting screwed if he gives it to you.
If you want it real bad, have him pay you. he's got to pay some one to take it. Let us know what you decide.
Thank you! Thank you! Thank you all for taking the time to go out of your way to check out the auction, and for your thoughtful replies.
And will give this a miss.
What we have learned from this is that it's time for us to do the boat dream and that if we're juiced to put what's necessary together to jump on something like this on short notice, then it's really time to do it thoughtfully.
I'm saddened because I really like the seller and we were developing a good rapport. It was wonderful to take his dreams and run with them. He has great ideas and has thought out many of the details about how to get this going, and has sourced the vendors to do the engine work and put the masts on. He's had the boat for a number of years and had lived aboard and done a lot of planning. He said that the hull was great and that he had hunted for over a year to find one this good.
My husband and I are happier than we've been in ages, talking about this and wanting to jump on this opportunity to be living on a huge sailboat. His father owned and rebuilt a boat exactly this size when he was 18, and has been doing fine woodwork forever. It looked like a project that would bring them closer together, and in the end we could share the profits with him.
So if we don't get this boat, it's time for us to get a different one - one that will be worth the investment. Let go of this particular boat, but not the dream. Let this boat be a catalyst.
If we take the next six months for research to find something that might wind up netting us both a boat to live on and a profit for sweat equity, then what would be good next steps? We were looking to invest around $30k to $60k over a couple of years to rebuild something magical - that would allow us to liveaboard and also wind up with a profit when we sold.
Any book recommendations? What's the best way to figure out what will be a worthwhile investment?
When I was working in a boatyard in Florida, it seemed the way to get a good deal on a boat would be to pick up hurricane salvage - where the insurance had completely written the boat off. I'm up in Boston now. I don't know if that would be a good strategy to start out with. My father-in-law is on his way to Florida and he's able to hunt around a bit.
Any other suggestions / strategies?
Thank you again. We appreciate your advice.
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