Hey Guys,
New to the forum. Just bought a 1984 242 SR1 w/ Twin Stock Merc 260's. Bit of a project, but hopefully nothing too scary (fingers crossed!). Starboard motor is seized up, so that will be the first thing to get right. Will probably pull it, strip the accessories, and get it off to the machine shop to put it back to factory specs. Id do a build, but will reserve that for later when I can build or replace both engines.

Once I get the engine off to the MS, Ill start on the interior. The bolsters and bench seat have been recovered, but the carpet on the deck and in cabin is gone, and the headliner will need replaced.

Anyone have the same boat that would be willing to send me detailed pics of the deck and cabin, so I have a better idea of what im building back to? Im sure im missing some pieces that will need rebuilt.

Also, need to know what size/type/model fridge these came with originally, mine is gone and I will need to source a replacement.

Anyway, here is how she sits now. Will post more pics once I get her home next weekend and cant start tearing into her. Hope to have her up and running in time for the season to start here in Ohio. With my old Sea Ray 260 DA, I used to boat on Catawba with an occasional trip to Cumberland. Since the "new" boat is a lot more trailerable, look forward to bouncing back and forth to both lakes more often with a sprinkle of the Ohio River in Cincinnati thrown in there.

Thanks in Advance for your help, Im sure I will have lots of questions over the next couple of months!

Billy

I was just looking at that boat on craigslist about 10 min ago. Whats the inside look like?

I didnt know Formula made a 24 foot boat with twins...Cool boat!

Did you have the boat surveyed? Did the transom and stringers look ok?

Ha! Yeah I went down and bought it last week, must not have taken it down yet! The inside needs some work, new carpet, headliner, put back together etc. Shouldn't be too bad as its fairly small, well compared to my old Sundancer.

Billy

I did not have to boat surveyed. Mainly because even if I have to do the transom and motor mounts, I would still come out ahead for what I paid for it. The transom looked ok from what I could tell, but I bought it knowing it was a project. I plan on pulling both the motors anyway (one needs rebuilt, mys well pull the other while I'm at it) to repaint the bildge and replace a lot of parts etc, so if I have to do the transom at the same time it wont be a huge deal at that point.

Thanks,
Billy

Cool Cool boat!!! I gotta ask how much did you pay for it? Just curious. Just say no if you dont want to say how much.

No worries. He was asking $3200, I payed $2800. Figured worst case scenario I could get my money back out of the Trailer and Engine/Outdrives, but the plan is to restore it completely.

Billy

Billy...congrats on the purchase and welcome to the Formula family...lots of help here. First of all ...you have a rare boat in that there were very few 242's built with twins. That being said, you can get a look at the 1984 Formula Brochure here
http://www.formulaboats.com/document...20Brochure.pdf

That will give you pics of what it looked like. I am 90% finished with the restoration of my 255 Liberator which was the predecessor to your model. This is a link to my thread that will give you some ideas. http://www.offshoreonly.com/forums/f...or-update.html. I'm doing an engine upgrade with twin 400 plus horse 355's and Bravo drives.

You picked a good one to restore. With twin 260's expect 65 MPH as a top speed and 55~60 as a cruise. There is a lot of good info on this site.

Consider buying a marine long block replacement and simply swap the accessories over to the new engine...probably cheaper in the long run than paying a machine shop. You probably want to get the drives checked also. You may as well plan on pulling them both since you need to in order to pull the engines. While you have them off take them to a drive shop to have new seals and water pump impellers installed.

Post some pics as soon as you can...we would love to see your progress.

Hey Thanks Sprink! Ive read your entire thread, awesome job!

Yes still debating on rebuilding the block I have or buying a long block, guess ill get quotes and compare the numbers. Would be nice to have a spare block to slow build while I run the stock 260's.

Ill post up pics this weekend when I get her home and start tearing in.

Thanks
Billy

Are those the original two piece rear main, non roller engines? If so, I have the two motors that I pulled out of my boat that I will need to unload. If you may be interested, I can review them and even pull a couple of bearing caps to inspect the cranks. Would be a way to replace the siezed one and get back on the water quickly.

By the way, you got a hell of a deal.

Brian