Just bought (hopefully) my first 87' 242
 

Hey guys, I was on here last summer as most of you know looking for my first formula. After much waiting and looking I found a good deal on a 1987 formula 242 ls is my area. It's got a 502 that was installed somewhere between 1995-1997 and a bravo 1 drive and silent thunder exhaust. huge hydraulic trim tabs. It's got a few cosmetic blemishes here and there cabin lights broken rub rail rash etc. Iv got it under contract for 7 days while I find a surveyor in the area to look at it. What kind of things should I be looking for with the surveyor. some things I've noticed from my first two looks are the engine hatch lift is broken, there are two tubes that run down to on top of the propeller with some sort of water pick up, one of the tubes is pulled out and cracked and the whole assembly where it goes into the top of the drive is rubbing the bottom of the swim platform pretty good when trimmed up. Also, just cosmetic but the hatch that goes into the cabin, the door is fine but the top is cracked off and doesn't come down and cover the door. Where could I find a new hatch?
Thanks guys look forward to being a formula owner !

Pictures would really help some nice 242's just listed recently, water pickup is a drive shower, those are good, but on the 242 the platform sits lower and often hit them if installed, hatch will have to be custom made or find a used one, whats wrong with engine hatch? if you don't mind me asking how much are u paying? was it converted to a bravo boat? if it has a alpha you will need to take care of it, but I would not be afraid of it, to be honest your description sounds like a 7-9k boat, a really nice one is on powerboatswap on facebook bolsters, appears nice and updated with a fuel injected 454

I have it under contract for just a tad over 9. It's through a marina who is selling it for the owner. I'm not sure if it's an original bravo or aftermarket but it is a bravo 1. The engine hatch hydraulic lift is disconnected and the switch is removed from the dash so I think it broke and they just took it apart. It has the drop down bolsters. The only picture I have is the ad witch has the marina listed so I will post up after the deal is final. It's black and yellow, no dock lights.

When you look at the boat look for water damage and rot. Talk to your surveyor about using a moisture meter around the transom and bilge stringers. Look at the head liner in the cabin for signs of water leaks around bow rail stanchions and deck hatches....as well as around the base of the windshield. The Silent Thunder Exhaust/Swim Platforms on these boats have a reputation for trapping water and developing exhaust/water leaks....put a critical eye on this area and especially the transom.

If it's an Alpha to Bravo I conversion with a 502 you may have lucked up and gotten a later model Bravo with the better gears...ask all the questions you can and learn all you can.

Remember...any significant issues you discover give you the opportunity to take another "Bite out of the Apple" or walk away. Transom and stringer rot can cost you THOUSANDS !! There are plenty of boats for sale...don't settle for something that will wreck your budget. $10,000 will buy you a nice 272 with twin small blocks...keep your eyes open and good luck!!

Have the surveyor check the lower areas of the main bulkhead (in the engine compartment) and the transom for moisture/rot. I had the bulkhead rot out on my 1991 F-242 and hat to replace it (big job). The key concern is that the bulkhead rot had also spread into the stringers going forward and aft (mostly aft). Usually if there is moisture in the bulkhead, then the fuel tank may have some corrosion going on.

The cabin hatch cover piece is probably custom in that it is no longer available, so have a shop that works with lexan/plexiglass make a new one.

There were no bravos in 87 so it's been converted. Price sounds a bit high to me check the transom, stringers and forward bulkhead for rot.

Thanks everyone, I will definitely have those checked out. The boat has not been in the water since last summer, will a moisture meter still be effective at finding rot etc. The boat is priced at the high end but it seems to be in good shape and it's sitting on a newer I beam bunk trailer, worth at least 1500/2000 imo.

P.s how do I add a picture?

Save pic(s) to computer then go to www.tinypic.com and upload....copy and past the link...or

Once the pictuure is uploaded on tinypic,
1. click on 'view larger image'
2. right click on the picture
3. left click properties
4. right click on the address/url in the popup window
5. left click select all
6. right click and copy the highlighted address/url in the popup window
7. Come here to your thread
8. type in [img] and paste your copied URL/address here [/img]
9. then post your reply

http://www.polyfab.biz/

They helped me out once with a cabin hatch.