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Help
I totally understand your situation and I'm with Griff. There are a lot of "boaters" that know nothing about boats. I have completely redone two 357"s. My current one is and an '89 that has been so customized it takes a real Formula guy to know what it is but I have a FORTUNE in to it and just really like the boat. If you have specific questions I'm more that happy to help. I am also a broker in Ft Lauderdale and have worked on a lot of stuff with Formula and their vintage support is second to none. https://cimg4.ibsrv.net/gimg/www.off...4b26733737.jpg
https://cimg5.ibsrv.net/gimg/www.off...e29e0c76eb.jpg https://cimg7.ibsrv.net/gimg/www.off...12cedba9f0.jpg https://cimg8.ibsrv.net/gimg/www.off...2a7958e59c.jpg |
Water in hull
357's have an issue with draining water from the front of the boat. There should be a bilge pump under the cabin step. Make sure it is operating. The water from any leaks is supposed to drain from the keel to under the step. You'll see a hole on either
side of the containment box which also serves as the drain for the a/c pan. The box will have the a/c water pump and the bilge pump in it. There also tends to be rot in this area if water is allowed to intrude unchecked. There is also an odd little thing Formula would do for the radio antenna on the port side. They typically would use a single wire with a ring terminal that would attach to the bow rail bolt and by doing so use the bow rail as an antenna. Cool idea except the o-ring wears under the railing and they leak and create a drip line down the wire to behind the cabinets on the port side. This being said all the water eventually drains to the bilge via the drain holes behind and under the fuel tank and on either side behind the bench. I found that during heavy rain and any leakage from around the fuel tank cover (middle of the cockpit floor) and from the front of the boat would fill the bilge quickly. This all needs to be inspected and addressed to keep a dry boat. |
Pulling
If the boat is pulling you most likely have a bad gimble. You mentioned it being very easy to move, in one direction, so make sure and check the gimble pins and steering ram. Typically a worn TRS gimble will cause a pull or turn on decel or accel. This can be very dangerous at speed so make sure nothing moves around on the back of the boat by lifting / pushing on the drives and checking for play.
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Rot
On where your hose is coming through the stringer that may not be rot. Formula didn't always finish up that pass through cleanly. If it is rot its a good time to pull the motors and go over everything in the bilge and make repairs, paint, clean up rigging etc...
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Velvet drives are sexy, so smooth |
Originally Posted by Andyba20
(Post 4706867)
I noticed that too. I felt that spot with my hand and it was solid, almost like someone needed a hole and didn’t have a saw so they just punched it through with a hammer and a screwdriver...something my dad would do. And I see the waterline. It definitely took on water at some point, I just don’t know for how long. i would be nervous about the silicone around the outdrive assembly. There is no need for silicone unless they were leaking. sure fire band aid fix for something that could be a bigger issue. |
Originally Posted by 1MOSES1
(Post 4707005)
the pass thru area on the stringer looks fine to me...formula probably left it unfinished as many manufacturers do. i would be nervous about the silicone around the outdrive assembly. There is no need for silicone unless they were leaking. sure fire band aid fix for something that could be a bigger issue. This drive has been serviced recently it appears. But then again I don’t know much. https://cimg6.ibsrv.net/gimg/www.off...977a43f1b.jpeg A closer view. Looks to me like this sealant was applied at the same time as the gasket. Maybe they reused the existing gasket and added the sealant as a secondary protectant? https://cimg8.ibsrv.net/gimg/www.off...648ed6353.jpeg Other side of the drive. I don’t know anything about Federal Marine but they have stickers all over the transmissions and drives. |
Originally Posted by Andyba20
(Post 4707025)
https://cimg7.ibsrv.net/gimg/www.off...84c853048.jpeg This drive has been serviced recently it appears. But then again I don’t know much. https://cimg6.ibsrv.net/gimg/www.off...977a43f1b.jpeg A closer view. Looks to me like this sealant was applied at the same time as the gasket. Maybe they reused the existing gasket and added the sealant as a secondary protectant? https://cimg8.ibsrv.net/gimg/www.off...648ed6353.jpeg Other side of the drive. I don’t know anything about Federal Marine but they have stickers all over the transmissions and drives. |
Of course it wasnt...I’m not that lucky... |
Originally Posted by JCCRAZY
(Post 4706941)
I totally understand your situation and I'm with Griff. There are a lot of "boaters" that know nothing about boats. I have completely redone two 357"s. My current one is and an '89 that has been so customized it takes a real Formula guy to know what it is but I have a FORTUNE in to it and just really like the boat. If you have specific questions I'm more that happy to help. I am also a broker in Ft Lauderdale and have worked on a lot of stuff with Formula and their vintage support is second to none. https://cimg4.ibsrv.net/gimg/www.off...4b26733737.jpg
https://cimg5.ibsrv.net/gimg/www.off...e29e0c76eb.jpg https://cimg7.ibsrv.net/gimg/www.off...12cedba9f0.jpg https://cimg8.ibsrv.net/gimg/www.off...2a7958e59c.jpg |
Actual footage of me and my brother trying to figure this boat out. Courtesy of Bill Murray and Steve Martin
Huge thank you to all of you that have responded. I can’t tell you how helpful you’ve been. |
Man I would be really carefull about the money you spend on that boat. It does not appear to be in very good condition. As a general rule, a boat in average condition will require 50%+ of purchase price to get it in good condition; a boat in below average condition will require 100%+ of purchase price to get it in good condition. Do not think that any significant repairs will substantially increase the value of the boat because they won’t; buyers expect it. You will be lucky to get back 20% of money spent on significant improvements.
I would spend the winter educating yourself and going over the boat looking real hard for significant repairs that are typical on a boat like that (transom, transom assemblies/gimbal bearings, drives, motors, stringers, fuel tanks, wiring, etc). If the above cost doesn’t sound like fun to you then consider selling it in the spring for whatever you can get for it. 50% of your money back is better than losing 100% and don’t forget to consider time that may be lost on the water. |
That boat has spent a lot of time sitting in the water.
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Originally Posted by TexomaPowerboater
(Post 4707133)
Man I would be really carefull about the money you spend on that boat. It does not appear to be in very good condition. As a general rule, a boat in average condition will require 50%+ of purchase price to get it in good condition; a boat in below average condition will require 100%+ of purchase price to get it in good condition. Do not think that any significant repairs will substantially increase the value of the boat because they won’t; buyers expect it. You will be lucky to get back 20% of money spent on significant improvements.
I would spend the winter educating yourself and going over the boat looking real hard for significant repairs that are typical on a boat like that (transom, transom assemblies/gimbal bearings, drives, motors, stringers, fuel tanks, wiring, etc). If the above cost doesn’t sound like fun to you then consider selling it in the spring for whatever you can get for it. 50% of your money back is better than losing 100% and don’t forget to consider time that may be lost on the water. |
Originally Posted by Andyba20
(Post 4707140)
I’m definitely going to spend some time getting educated on it. I don’t expect to ever make money or even get 50% back, but I paid cash for it and wouldn’t lose a minute of sleep if it sank to the bottom of the lake tomorrow. That said, I’m going to try to make the most of it. It’s 31 years old, I’m sure it’s spent some considerable time in the water. |
Originally Posted by F-2 Speedy
(Post 4707147)
many of us have felt this way.......:D
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357 SR1...Wave crusher. Built like tanks.
Heavy! Steering... the boat is way too heavy for the wimpy steering that it came with from Formula/Mercruiser. The really need a decent hydraulic steering set up to run properly. Even going with used parts it's a big investment, but totally worth it. You'll need to address gimbal issues if there are any. Side to side testing is done with the engine running (starboard) so that pressure is applied to the steering cylinder (useless otherwise). Then check for up/down movement of the drives to check the steering pivots. More than likely the tiller arms are bad (common with the TRS). You do not need to replace these if going with hydraulic. I would be concerned about the bulkhead behind the tank. The 357 is so forward heavy that water intrusion and rot can actually crack the hull right behind the windshield if it's really bad (at the engine stringers and fuel bulkhead). This and any rot forward needs to be corrected. There were some other things to point out in your pics but the Mrs is sitting here waiting for me to take her to dinner. PM me and I'll be happy to give you some pointers. I love these old Formulas! -Tom |
Originally Posted by TomZ
(Post 4707179)
357 SR1...Wave crusher. Built like tanks.
Heavy! Steering... the boat is way too heavy for the wimpy steering that it came with from Formula/Mercruiser. The really need a decent hydraulic steering set up to run properly. Even going with used parts it's a big investment, but totally worth it. You'll need to address gimbal issues if there are any. Side to side testing is done with the engine running (starboard) so that pressure is applied to the steering cylinder (useless otherwise). Then check for up/down movement of the drives to check the steering pivots. More than likely the tiller arms are bad (common with the TRS). You do not need to replace these if going with hydraulic. I would be concerned about the bulkhead behind the tank. The 357 is so forward heavy that water intrusion and rot can actually crack the hull right behind the windshield if it's really bad (at the engine stringers and fuel bulkhead). This and any rot forward needs to be corrected. There were some other things to point out in your pics but the Mrs is sitting here waiting for me to take her to dinner. PM me and I'll be happy to give you some pointers. I love these old Formulas! -Tom |
Resale is a myth that no boat owner really believes in. Fix what you need to as you go along and make a dream list that you peck away every year. I’m sure that is how JCCRAZY came to have such a nice boat. Good luck and have fun. |
Originally Posted by ph1971
(Post 4707186)
Resale is a myth that no boat owner really believes in. Fix what you need to as you go along and make a dream list that you peck away every year. I’m sure that is how JCCRAZY came to have such a nice boat. Good luck and have fun. If we went by the whole resale thing, more than half the resin buckets in existence would be in landfills. |
2 Attachment(s)
Short clip of my new mistress waking up the neighbors |
Originally Posted by Andyba20
(Post 4707200)
Short clip of my new mistress waking up the neighbors |
2 Attachment(s)
This is the only thing louder than my 2nd Gen Cummins. |
Sweet looking boat!
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357
I have a 1988 30 foot Scarab on Fort Loudon, we frequently run to Tellico. Great to have another old boat around. I pulled motors last winter and found the transom and stringers wet on a boat I was certain was dry. I dug Into the boat and replaced everything. Don’t sweat it if you find yours wet, being your first powerboat, just tinker and enjoy it. Being wet is not the end of the world as long as the boat is solid. If you can’t do the work yourself, you run into costs that far out pace the value of an old boat. I’m pulling my engines again this winter as I already have 300 hrs on them this season. I want to see how they have held up. There is always something you want/need to do to an old boat. I will PM my phone number , call or text if you need anything, I’m in Knoxville. I also saw that Formula for sale and thought about picking it up to have a a spare. |
Ok rookie question of the day. My DC accessories all work even with the batteries switched off. I did some tracing of the wires. See exhibits 1-4.https://cimg6.ibsrv.net/gimg/www.off...b33b3722f.jpeg DC Main breakers https://cimg7.ibsrv.net/gimg/www.off...b80f682a3.jpeg Closest Red wire https://cimg8.ibsrv.net/gimg/www.off...614b913ca.jpeg This wire goes into one of the 4 terminals (I’m guessing only one of the main breakers is working) https://cimg9.ibsrv.net/gimg/www.off...11b661bb1.jpeg Red wire runs straight to battery positive. Should this wire be going into the battery on/off switch? I have plenty of fire extinguishers I just don’t want to use them. |
All the DC accessories should be tied into the battery switch. That way when you turn batteries off even if you forget something is on you don’t kill them. Bilge pumps should be tied to all time hot. Wiring on older boats is usually a mess from so many people tinkering and jumping **** because they don’t know how or refuse to fix it right |
Originally Posted by Crude Intentions
(Post 4707270)
All the DC accessories should be tied into the battery switch. That way when you turn batteries off even if you forget something is on you don’t kill them. Bilge pumps should be tied to all time hot. Wiring on older boats is usually a mess from so many people tinkering and jumping **** because they don’t know how or refuse to fix it right |
Half the battle with these old boats is undoing all of the bullish!t the previous owners did. Sometimes it’s hack “mechanic” work that someone actually got paid for. There was plenty in my boat and most boats I see honestly. I wish I had a dollar for every non marine carb or alternator I’ve seen on the ski boats around here. And the stereo installs are just dangerous, with power wires half the size they should be, and direct wired with no breaker. Good stuff. |
My 88 Scarab has factory wiring that scary. |
Thankfully, Formula isn’t too awful bad. |
https://cimg1.ibsrv.net/gimg/www.off...12a4b5080a.jpg
My 86 357 SR1. Great old boats. Give her love and keep her floating there a ton of fun!!! |
Originally Posted by FireCkn
(Post 4707416)
https://cimg1.ibsrv.net/gimg/www.off...12a4b5080a.jpg
My 86 357 SR1. Great old boats. Give her love and keep her floating there a ton of fun!!! |
https://cimg7.ibsrv.net/gimg/www.off...fee10a02c3.png I noticed in the 88’ model brochure from Formula the stock offering for these 357’s was a 420, these motors say 425. Are these newer motors? Did I read correctly that the 425’s weren’t offered until 93’? |
Originally Posted by Andyba20
(Post 4707426)
Exact same boat! Yours is cleaner. I took it out with some friends last night and it was awesome. We got more comments from people “hey Don Johnson nice boat” and “all that boat and no mullet” and of course got asked about drug smuggling 50 times. |
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