What did you do with your property before you left for the horizon? - Page 8 - SailNet Community
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post #71 of 90 Old 3 Weeks Ago
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Re: What did you do with your property before you left for the horizon?

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That is funny- it snowed the first day I got here too. I was standing there thinking- what the H am I doing up here????? I think it was eighty back home.
Oh bahÖ Muskegon is way south compared to where I used to sail. Heck, itís way south compared to where I currently sail .

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post #72 of 90 Old 3 Weeks Ago
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Re: What did you do with your property before you left for the horizon?

snow?????????????????????????????????????????????? ?????????????????????????????????????????????????
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Re: What did you do with your property before you left for the horizon?

We sold our Triplex before embarking on the adventure. Keeping the unit would have given us a positive cash flow and the possibility of appreciation made it an attractive property to hang onto. The age of the house and especially the mechanicals, having little equity to add to the cruising kitty, management headaches, and that we had no intention of returning to even that side of the country dictated a sale. We moved to California to build the boat where we could have settled easily. A chance at a super deal came up on an acre lot that we could have moved the boat to, set up shop in the, literal brick **** house, garage and lived in the tear down house. Still kicking myself for not buying that property as we probably could have made enough money on the purchase to retire. It was probably a good decision though as we would have had to work for another year after finishing the boat to rebuild the cruising fund.

If you think you'd return to the area, the property is unique and hard to replicate, and doesn't 'eat', I'd hang on to it IF you can still cruise doing it. Delaying a cruise waiting for ideal times is a false idea. So many things can intervene that will dash your chances of cruising. For most people cruising isn't forever. You'll eventually be returning to terra firma so your decision needs to take that into account.
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Quote:
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Originally Posted by alanr77 View Post
That is funny- it snowed the first day I got here too. I was standing there thinking- what the H am I doing up here????? I think it was eighty back home.
Oh bah… Muskegon is way south compared to where I used to sail. Heck, it’s way south compared to where I currently sail [IMG class=inlineimg]https://www.sailnet.com/forums/images/smilies/ship-captain-smiley-emoticon.gif[/IMG].
Lol 😝

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Re: What did you do with your property before you left for the horizon?

So the Realtor did the market analysis and I met with him today after he toured our house last week. He gave me some honest info on it and also gave a value that I would have guessed myself almost bang on. IF we did sell, including the commission cost and legal, we could indeed live for a year or two easily on the boat with, for where I live, a nice leftover nestegg to re-settle. My problem now is time by the looks of it. I thought maybe we could shoot to sell by August and be on our way South in Sept. (Erie Canal -> New York by Octoberish then ICW South Oct\Nov to be in FLA latest December) but some more experienced people are thinking that's way too late. So now I have a choice, sell now and just do it, or wait til next year and then list and try to sell and be on our boat by June~. Real estate (with the winter factor) and boat season just doesn't line up well where I live it seems. Best time to sell a house is late summer early fall, which is when I need to be sailing south lol.
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Re: What did you do with your property before you left for the horizon?

I left from the Boston area and got to St Augustine FL before Thanksgiving and didn't push it at all. I did start jumping out of the ICW at SC and GA

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Re: What did you do with your property before you left for the horizon?

Guyfromthenorth... The economic decision is simple (a financial advisor won't tell you this and it's not in an accountants training).

Say the average individual has an investment life cycle of 35 years. In every 35 year period since the beginning of the 20th century the annualized returns from the major asset classes have been (rounding up the numbers):

Property 2%
Bonds 4%
Equities 6%

This is +or- a tiny 3% variation and they're all tightly correlated. This means that unless you need a house to live in you should not invest in property.

Our experience.... We bought a conservatively priced boat and put as much money as we could in a balanced global tracker fund. We manage this through a dealing only online broker. We buy as much as we can on a credit card. Once a month we get the card bill (about £2000 in English money). Before the payment's due we sell the required number of fund units to cover the bill and transfer the money into our bank account from which the card payment is taken. Search for 'low cost global trackers'

Now to be honest we still have the house, but that's because there's an issue with Brexit. But in the time we've been away the fund has made over 10% (annual). The house, rent plus capital gain would have made less than 5%.
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Re: What did you do with your property before you left for the horizon?

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Guyfromthenorth... The economic decision is simple (a financial advisor won't tell you this and it's not in an accountants training).

Say the average individual has an investment life cycle of 35 years. In every 35 year period since the beginning of the 20th century the annualized returns from the major asset classes have been (rounding up the numbers):

Property 2%
Bonds 4%
Equities 6%

This is +or- a tiny 3% variation and they're all tightly correlated. This means that unless you need a house to live in you should not invest in property.
Think your returns are low on Realestate at least by a factor of 5 as far as my family is concerned. Know things are cheap un almost any first world country and appreciation has been pretty healthy though not in a straight line and sometimes down but overall up. We've managed well over 10% and that seems to be the case for most of our extended family. Maybe owning property on the Left Coast of the US has something to do with a much better return than your figures.

As far as leaving from the frozen north for warmer climes, as long as you leave before it regularly freezes you should be fine. When I was living aboard in Norfolk boats were still heading south in December and really didn't start streaming south till late September/October. Seem to remember lower Chesapeake didn't get really cold till after Christmas. Even in the depths of winter temps were mostly above 40 degrees and it gets warmer the further south you go. Leaving from the Chesapeake, you can be in Miami in two weeks or less on the outside. You have to stay in close to shore to stay out of the Gulf Stream and keep an eye on the hurricanes but the sailing will be an easy reach. Biggest obstacle is getting around Cape Hatteras and you can do that on the inside. Highly recommend the Dismal Swamp Canal though it's been awhile since experiencing it. Wouldn't let an October departure deter me in the least if that's the earliest you can leave.

Last edited by roverhi; 1 Week Ago at 11:46 PM.
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Re: What did you do with your property before you left for the horizon?

roverhi.... your family got lucky. And their case makes it an even more flawed decision to keep existing (not lived in) or be a new investor in property for rent. I.e. there are a small number of people that make a big return (often shouted about) offset by a large number of people that make a loss (and keep their mouths shut).

Also, know that property is very illiquid and more volatile than equities or bonds.

I can't give the OP more detail to make the right decision if he wants it??
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Re: What did you do with your property before you left for the horizon?

Since you are going down the ICW, I don't think your are planning that a departure. The only offshore stretch is the NJ shore. Might have to wait for a weather window to do that. Once in the Chessie you have lots of places to wait out bad weather. Selling the house is the big question mark. Could happen quickly or take many months. Worst case it takes some time and its too late to leave. So you rent and prepare for leaving next year.
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