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Go Back   SailNet Community > General Interest > General Discussion (sailing related) > How do you fund your sailing... Hints, tips, just frugal?
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Thread: How do you fund your sailing... Hints, tips, just frugal? Reply to Thread
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Topic Review (Newest First)
04-16-2007 12:37 PM
Valiente That's covered. I'm "selling" my old 33 footer to a friend without actually taking a penny for it. I will merely hold a lien against it. That way, I am listed on the insurance forms as "first creditor" for the entire boat value: if she sinks, I get the cheque for it. My friend gets the use of the boat while we are away for the cost of dockage, storage and maintenance, and as he's a general contractor who is also rebuilding an eight-metre class wooden wonder, I don't have many worries on that score.

If I decide I don't want it, he gets right of first refusal. If he doesn't want it, I sell it and give him a 10% commission for the care and feeding of, etc.

It's the only way I could think of to keep a hold on a boat which I've spent seven years fixing up, and which is perfectly sized and shaped for Lake Ontario, but which is just as inappropriate for offshore as my new passagemaker is to Lake Ontario (not so much inappropriate as oversized and undercanvased, really...more boat than is necessary).

Here's the old and new side by side. The blue one's "under new management" for a few years.


And underway. It's a leaner C&C design from circa 1970, more racer than cruiser, but we like its Spartan layout and speed.
04-16-2007 08:44 AM
sailingdog Valiente-

You forgot a part in step six. Buy another boat, so I don't have sailing withdrawal...
04-16-2007 02:44 AM
Valiente 1) Buy house
2) Slave to pay off house. House doubles in value due to no personal effort, but rather occult "market forces"
3) Pay off house. Capture artificial and likely transitory rise in house value by immediately remortgaging 50% of house value. Buy steel cruiser.
4) Use portion left over to reno house into two apartments. Rent only to nurses (hospital is near) on theory that they are clean, rarely home and have a steady income.
5) Move aboard boat for a year to minimize transition to voyaging and to maximize rental income. Use rental income to pay off new mortgage.

Bugger off for five years.

6) Return, sell boat, move back into half of house. Leave one set of tenants in place because half a house, compared to a boat, will be ridiculously spacious. Pay off mortgage. Scratch testicles. Life has been successfully well lived.
04-15-2007 11:16 PM
joethecobbler I'm hoping to get a little extra money along the way doing canvas repar or any repair/maintenance marine work.
However I'm not counting on it for survival. it'll most likely be hit and miss.
I'm almost ready to cast off, few ore days. Waiting on the weather and finishing final issues.
04-11-2007 11:58 AM
Kernix
Quote:
Originally Posted by Kacper
Hi JodyKS,

I make all my income passively on the Internet by selling eBooks, information products, and some affilaite programs.

Whenever I feel like, I go sailing. While I'm sailing, I'm making money.

Works for me

It's quite easy to set up an Internet business that makes $1-K 2K a month. I think that's more than enough to pay for some of the stuff you'll be spending on a boat.

Kacper
Tell me more! How do you start about doing that? Anyway that I can speed up the process of getting the funds for a boat is of interest to me.
04-11-2007 11:57 AM
Kernix
Quote:
Originally Posted by sailingdog
A lot of this depends on where you are, whether you're living on-board at the marina or on-the-hook, what boat you own, and so on.

Certain areas are more expensive than others... living at a marina is more convenient and more costly than living on-the-hook. Different boats will have different expenses.

When I leave, I am planning on living aboard, on-the-hook most of the time, and have setup the boat to be as self-sufficient as possible. I will probably have to work occassionaly to beef up the sailing kitty, but expect that for the first year or so to be spent mainly sailing.
That's what I would eventually like to do - sailing up and down the East Coast of the US photographing and hopefully selling my pics. What kind of boat will you be on?
04-11-2007 12:08 AM
sailingdog good luck joe and fair winds...
04-10-2007 11:54 PM
joethecobbler I;m in the process of finishing a few things on the boat,taking my vehicles off the road (by gas and insurance costs). locking the house doors and taking off in 1-2 weeks.
later is now.
03-29-2007 09:48 PM
toewsrus My wife, three children and I have decided to take off this year.

This is what my brother sent me about the cruising lifestyle...

think he's jealous?

03-27-2007 11:45 PM
bestfriend
Quote:
Originally Posted by sailhog
This could be a whole new forum topic: how to manipulate/trick/swindle your wife/girl friend into thinking that you're buying an expensive new boat and charting a decade-long cruise for her. I'm really interested in learning more about this concept but have been disappointed to find so little written on the topic. Whenever my wife starts asking questions, I try to get her drunk right away. So far it's worked pretty well, but I'm curious if anyone has found other approaches effective. Just curious.
Sailhog
You're a riot! I like the way you think.
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