Looking for some help on a restoration project
 

So I have picked up probably the most unusual storage find that I have since picked up. Basically it's an abandoned Formula SR1 302 (I think) I am not 100% sure of this because according to Formula themselves the HIN doesn't match what any records they have. But the boat was abandoned for 6+ years and I now have picked it up. BUT it's in rough shape and even thats a hard understatement. However, the main parts are all there except for the motors, drive plates and outdrives. The seats need to be rebuilt but have all the parts, the dash is all there, and the steering wheel, shifters linkages, trim tabs, and all the interior is there even the bimini top frames is still there in tact, but in a massive disarray. In fact it even has the original keys still.

Now what I am trying to decide what to do is how to rebuild it... Here's the goodish news, the boat only had 26.5 hours on it before the motors were pulled and the boat put into storage over 10 years ago before that I know nothing of the boat's history. But there is no hull damage and the fiberglass is in all things considered very good shape I am very sure that a very good cleaning will bring out alot of the cosmetic issues. The rest will go away after I decided to either wrap it in vinyl or to re-gel coat it. My plan is to make it look more modern in the inside so I will be using tan quilted vinyl seating, and sunbathing pad. Im planning on redoing the floor with SeaDeck, and I am getting a custom Swim Platform made up to complete the rear.

The plan is/will be to repower it ideally with twin 454's and maybe a blower for each to get upwards of 500 HP that's good for a reliable daily runner. Then I am looking to source out a pair of twin prop Bravo 3's to complete the outdrives. The goal is to get it to do min 80 MPH and as close to 100 MPH as possible without working to hard on it first year.

These are the pics of the boat as she was at the storage, this is not my first rodeo albeit this is the most fargone boat I will have ever undertaken. But I think in the end I maybe finding it well worth the time if there is no other physical damage that I will have to contend with.

What I could use some help with is to determine where I can locate some 454's or 502's or worst case a pair of 396's for a decent deal, or ideally where can I locate some online auctions or places to locate wrecked boats, salvages etc to get a complete motor and outdrive assembly from. I picked up my Sea Ray Sundeck from an auction site that's no longer around now but it was originally purchased with a blown 5.7 and outdrive, I rebuilt it and was on the water in less than a month. I want to have this boat done by next season. All in all I will be rebuilding the boat with my two boys, and it's pretty much exactly what my father and I did together when I was about their age, so the money I expect to be spending on this maybe into the 20k plus range if I pay retail for everything but I have alot of things I will be doing on my own so keep it under the 30k most of the money will be going into the motors and outdrives, all the other items like the seating I am going to get a pro to do the seats and some of the other things we will do.

Oh one last thing, I think that this is an 1980 boat, however the HIN last 3 is 801, Which has caused some confusion because some say that the last 2 designates the year, whereas it doesn't look as a Formula from 2001 would look but more along the lines of a 1980's. But whats your two cents.

But any pointers suggestions or recommendations from ones who have done similar things I want to know if I can repower it with the Bravo 3's should I refiberglass and reinforce the transom? Should I look at refiberglassing any areas of the boat due to the water sitting in it for so long? And where can I find a couple of motors. I have been looking but seems like the 454's and 502's are non-existant now. I have tried even automobile wreckers and not finding anything in Canada so looking now in the USA. Thanks for the pointers.


PS I tried to post the pictures of the boat, but the site wont let me until I have ten posts.....

Sorry guys, I had to make 9 random posts, to get me to 10... then return to edit and post the pictures that it wouldn't let me post in my very first post LOL. Any ways, that's the boat... Yep it's and eyesore.... Kinda like that ugly baby, it's liked only by it's parents LOL. But I can see past all the screams and see what was once a good boat. It did only have 26.5 Hours before the owner decided to park it and let it sit.... Why I may never know...

http://captainron.ca/forumpics/20170726_145746.jpg

Big project!
Hows the hull for rot? Usual soft spots, transom and stringers?
Some more educated guys will probably chime in but to get 80 mph ++ towards 100 it would take big power and also I don't think Bravo 3's are the way to go for high speed. They're better at pushing a heavyweight onto the plane.

If you post the full H.I.N. there's probably someone who can help with identification.

You got a lot of work ahead, good luck and enjoy.

RR

Hope you have a lot of time on your hands, it will be cheaper to buy something already done. good luck

I'm no expert so take my input with a grain of salt. 1st, I commend you for taking on such a project. 2nd, your correct that is a "flat glass" boat so it is certainly not an 01 model. That boat would have been equipped with alpha drives back in her day. Idk about a b3 being what you want. Maybe a standard bravo. I will say this, if you want a 100mph boat don't look toward a fat girl formula. They are built for rough water performance and lasting for a long time. A healthy set of hp500s or even a nice twin 383 set up would be awesome I that boat! Just don't underestimate the amount of time and effort your about to put forth to get it solid.

Either way, I dig it!!!

Looks like the big sister to my '79 233 Interceptor- most likely an early '80's model. Also, it had TRS drives, so you're gonna have to re-do the transom to go to Bravos (TRS transom cut outs are BIG.) Good luck with your project, and I agree with previous posters- no way that boat will see 100 without MONSTER power (if even then.)

double post- sorry!

Be tough to piece that together without a donor boat but it can be done. Easiest would be a trs boat as everything including the trannys would bolt up assuming hull is sound.

Yeah that is my plan to find a doner boat hopefully crashed or something along that line. But I want to put in a Bravo Drive not a TRS, not too sure I woudl want to deal with the issues of a TRS over a Mercruiser Drive.

Ideally in a perfect world I will install twin 454's but all else failing if I cannot find donner motors cheap so I can build them up I will reluctantly return to the 5.7 350 SMBC plan of a stroker kit to either a 383 or 396's. I think that the Small Block 350 maybe ok for the boat I just dont know if the HP will be equal to the way Mercruiser built them.

I am still doing research on the whole plan of converting a automotive chevy motor to use in a marine application and maybe doing that if I cant find a pair of 454's or decent 350's to start with. If I do use regular Chevys' I will do a closed cooling system anyways so my risk of hydrolocking the motor should be eliminated.

Yeah it's going to be a big project, much larger one than I planned to try to take on. I originally was looking for a boat that I would pickup for around 10K that needed some work to rebuild the motors and redo the interior to bring it to a more modern look. But this one I actually got for free, the only thing I had to buy was the trailer and I got a 34' all aluminum tri axle with aluminum rims, worth 11k for $5900. So basically even if the boat is garbage and the stringers are all way to fargone I can still keep looking. But I like the design of this boat, I grew up in West Palm and as a kid I used to watch these guys all day long from where I lived in Jupiter on Loxahatchee River flying out Jupiter Inlet at what I thought back then was 100 MPH LOL. But my Dad and I had worked on his boat for many years together and since my Father has since been gone now for over 15 years I want to do the same with my two boys.

I have been wanting to take on a project like this for a while so even if it doesnt all turn out the way I want and I have to make some changes from motors to power etc I have a great start because even if I bought a complete formula or donzi, etc I would still be sinking 30k min into getting the boat, it will most deff have quirks and areas needing attention and probably even repairs to the interior or replacements required so I will end up doing all those and even if I only put into that boat 7-10k I would have a boat I would have spent 40-45k on so my plan is to keep it around 30k on my budget I know more than 50% will go towards the motors, and since I can do everything on the motors outside of the machine shop work which will help me save some serious money. Same as all the electrical, and even some of the vinyl work. The only area of concern to me is the seating, which I may end up buying or having someone do it for me instead.

Either way, if I spend 30-40k on rebuilding the boat I will have a boat configured my way, and how I liked it. I am getting a custom made swim platform built to my specs, plus I am changing the design for the interior as well to bring in some of the styles from the newer Formulas as well as some features of the older ones. I personally like the square glass more than the curved and I want to re-gell the boat to give it a different color. Just not too sure what color scheme to go with yet and I may just wind up doing vinyl so I can change it every so often.

Right now I have to find the outdrives and motors, I am giving this my winter project to have it ready by summer next year for water trials in June 2018. :)

That boat has sat out in the elements for a long time. You are going to run into serious transom and stringer issues guaranteed. You'll be removing the deck, fuel tank, and all of the inner structure to make repairs. With all that work you'll be lucky if the boat goes straight.

For the 30-40k invested, you could have a very nice newer Formula (or anything really) that would better fit your desires. Even if you went and got her all done up and perfect, resale would still be no more than 10-15k (and that's being generous).

If you can post the HIN, I can decipher it for you.

Good luck!

That is a late 70s to early 80s 302. In 84 or 83 they changed the deck getting ready for the 311. Most likely TRS drives with MerCruiser transmissions, which were not as strong as BW ones. 454 blocks, and you'll need all that umph to move the boat. That hull is a 60mph boat, even with warmed up 454s, at least in fresh water, maybe a little faster in salt. If you want 80-100 mph, put it on the nice trailer, hook it to your truck, and find a steep hill. That's how I got my 302 over 80 mph. OR, find Kaama drives which were also stock on some, and get you another 10mph or so.

I like Formulas, but this one needs to be laid to rest most likely, after the K-Planes and windshield are salvaged. check for rotted transom and stringers. I'd take the budget, and buy a 311 or 357 needed less work as it received more luv, or a Cigarette as they have a cult following and therefore better resale.

The 26 hours is a) doubtful, and b) so what? It's not like the hull has moving parts that wear out.

http://captainron.ca/forumpics/20170726_144234.jpg

I have a hard time reading the HIN but I think it's TNRM3646M801

Oh my goodness !!!!

Could be the most expensive and labor intensive free thing anyone has gotten...short of a gold digger...but close !

Yikes !

TNR - Thunderbird Products (Formula)

M3646 - Serial Number

M80I - 1980 April

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Formula should be able to give you some information, but basically it's a Formula 302 built in April of 1980.

Cheers!

I admire your passion and understand what it means to spend time with your boys, but before you get to far involved I would do as others suggested and check the structure. From the photos there was a lot of exposed wood for many years that has soaked up plenty of water. I would also suggest coring some holes in the floor to see if it is wet in a couple of areas. If you do have to replace the transom it is a great time to fill the holes and prep it for bravos. Good luck and keep posting your progress.

OK the hull is awesome. One of Formula's better. They are for Formula standards, very light. I loved mine. With stock 330hp motors and TRS drives it ran about 60 easy. Chart has all the specs about on the money. This is going to be a HUGE project and from a financial sense is a bad choice. I have made plenty of bad choices in my life however so I am not judging. If there is rot it will travel in these boats due to the way that they are made. They did not cap the stringers so once they start the rot travels all over the boat. You want to check all that because if it is as bad as mine was I would cut your losses.