View Poll Results: is ypour boat paid off or on a loan ?
totally paid off
200
51.55%
I have a loan somewhere that helps me have it.
188
48.45%
Voters: 388. You may not vote on this poll

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is your boat paid off or on a loan ?

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Old 12-18-2006, 06:42 PM
  #51
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Default Re: is your boat paid off or on a loan ?

I paid mine off in November.Just in time to break the sleds out.
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Old 12-18-2006, 10:04 PM
  #52
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Default Re: is your boat paid off or on a loan ?

Jass is right. The south is the place right now when it comes to making a living. One of these days he is going to let his buddy Clark in on the good life!

My returns are from 4 things…Oil & Gas, Rental Property, Real Estate Development, and Real Estate Speculation. My main business affords me the opportunity to put my money to work…I also have an IRA which is conservatively invested and it returned 9% this year…

As for financing, to each his own....Do whatever floats your boat...
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Old 12-18-2006, 11:34 PM
  #53
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Default Re: is your boat paid off or on a loan ?

Wait till another storm hits. Lets see whats left of the property. As for equity lines on your home, primes over 8% my boat loans at 6% 20 yr. with my credit union. That sounds better than using your American Dream to own a boat. Just my 2cents. They do say the Richest people in the world rent everything it's much cheaper.
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Old 12-18-2006, 11:40 PM
  #54
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Default Re: is your boat paid off or on a loan ?

I follow the same line of thinking as crb76 & Jassman.

I paid cash for my first hi-perf boat. I financed my Cig (used, 2001), I put enough down that if I had to dump it, I'd be fine.

Depreciation is a constant, whether you pay cash or finance it, so I consider it irrelevant to the equation (unless you are financing something with a minimal down payment & are upside down in it). The bulk of the depreciation on my boat is over now though, so I've minimized that as well by buying used.

My current loan is at 6.7%. If I can't make more than that off my cash, I shouldn't have a expensive hobby.

I'm in real estate development & investing as well & cash is king when great deals come around (distressed sales, forclosures, tax liens, etc.). No time to get a mortgage in those situations.

Different things work for different people, but as much as I don't like making a boat payment, I know it's the best thing for me.
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Old 12-19-2006, 12:10 AM
  #55
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Default Re: is your boat paid off or on a loan ?

Formula financing @ 1.99 %, yes I make payments..........
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Old 12-19-2006, 08:49 AM
  #56
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Default Re: is your boat paid off or on a loan ?

Quote:
Originally Posted by jeff32
you guys are lucky to have your interest on houses deductible. In Canada, we don't. But we have other good things you don't, like free health care ( I hope I have the right words...)
In Miami this time of the year we are still on our boats while in Canada you are using your free health care from getting sick shoveling all of that snow Although this time of the year we actually have more Canadians than Canada
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Old 12-19-2006, 12:41 PM
  #57
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Default Re: is your boat paid off or on a loan ?

we actually have more Canadians than Canada

That is funny... and also true! My brother and his wife and child plus father and mother just came back from 3 weeks in florida...

You are right then !
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Old 12-19-2006, 02:52 PM
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Default Re: is your boat paid off or on a loan ?

Quote:
Originally Posted by danh63
I would be happy with the 15% conservative that was mentioned. Do tell how
Funny you mention this, I have a financial adviser, that has some pretty well thought out investment strategies, he has done very well for me. Of course it is against the law for him to promise any certain level of gains, but the Raymond James fund (He runs a Raymond James Branch) has historically shown 45% gains for the past 13 years. I found some one good, that I believe in, and I just figured I would pass on my info and experience with my adviser to any one who would like a chance to speak with him.
Kevin
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Old 12-19-2006, 03:07 PM
  #59
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Default Re: is your boat paid off or on a loan ?

Quote:
Originally Posted by spk1
Funny you mention this, I have a financial adviser, that has some pretty well thought out investment strategies, he has done very well for me. Of course it is against the law for him to promise any certain level of gains, but the Raymond James fund (He runs a Raymond James Branch) has historically shown 45% gains for the past 13 years. I found some one good, that I believe in, and I just figured I would pass on my info and experience with my adviser to any one who would like a chance to speak with him.
Kevin
Just curious where the 45% comes from.. Is it an average over the 13 years or is it an average for each year etc.. Possibly he is putting you in aggressive positions.. with these also come higher risk.
A good growth or cap appreciation fund will return 10-15% annually. I like utilities that pay dividends myself.
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Old 12-19-2006, 04:26 PM
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Default Re: is your boat paid off or on a loan ?

First of all, my post is not ment to make any one feel bad, to compete with any one, or in any means ment to be disrespectful. I just wanted to share info. The 45%, Its an average of each year. As I understand this is a limited quantity Raymond James fund that only comes availible each December as of now, it is sold out for the year. As far as the agressive positions, Yes,, but, only 30% goes into agressive positions, the other 70% is conservatively vested to perform with the market. , I believe there are good stocks, risky stocks, and bad stocks, but your probably open to the most risk with out a good adviser which is the only reason I would give out his name to my friends on OSO, you only find a few top guys in each industy, and when I find one, I share him with my friends. He could probably go into more detail on the percentages, and strategies. Im not a financial adviser, stock broker, or even in the finance business. Im just the guy who sits back and watches the numbers go up, .

Last edited by spk1; 12-19-2006 at 04:42 PM.
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