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Boats bad investments???

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Old 01-27-2005, 07:30 PM
  #31
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Default Re: Boats bad investments???

Personally , I think a boat is an okay investment, IF You can do the work on it yourself. I have NEVER sold a boat for less than I originally payed for it. Of course I have put money into them over the years or months or however long I have owned them , but on the whole it's nice to see them sell for more than your purchase price.

ps . I have owned at least 25 boats over the years... Tom
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Old 01-27-2005, 08:17 PM
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It's what we do, it's what we love, it's a good investment. Hard to put a number on something you love so much. In my book that's a good investment. My whole family looks foward to the weekends, that's a good( investment). I'm sure you see it that way.
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Old 01-27-2005, 08:58 PM
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Default Re: Boats bad investments???

Ya boats are the worst investment.. Suck fuel , repair bills etc etc
But time spent on the water ...priceless
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Old 01-28-2005, 06:20 AM
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Ok, it depends on what type of investment your talking about, if your talking about a financial investment you may be a few cards short of a full deck If your talking about an investment in the happiness pleasure of you, your family and friends than I don't know of anything better, well, maybe one thing but this is the wrong section for that
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Old 01-28-2005, 07:01 AM
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Some people make good money on boats. Firstly, you have to move around the docks and marinas and know people. So that when there's a fire sale, you know about it on time. Then, you have to have cash in hand and I'm afraid you also have to be ruthless and offer ridiculously low amounts to people who you know are in financial distress. Then, you have to know your way around boats because when you offer an immediate low cash amount, it's usually "as is, where is" and there's no survey, no lifting out of water and no oil analysis... The second reason you need to be handy around a boat is because fire sale deals are very rarely boats in immaculate condition. Chances are costly maintenance has been dodged by an owner in financial difficulty. Things will need fixing and/or replacing, that's for sure. It's obviously cheaper if you can do it yourself while you're adding value to the boat. You also need to be a very flexible person and look at boats like a business opportunity, not like toys for your personal use. A fair bit of rational thinking is required which is not easy when you're looking at boats. You need to look at the marketability of that particular brand and model, not at whether you like it or not. If the marketability is good but you don't like it, resell it immediately. If you like it, keep it and its sale 2 or 3 years down the road can pay for maintenance and fuel. That's right, boating for free.

BTW, this is virtually impossible with new or very recent boats. You do not want to be around when that initial depreciation hits in the first 3 to 4 years. And most importantly, refrain from bragging to your friends what a fantastic deal you've made on a boat. Before long, the whole nation will know how much you paid for it and consequently, most potential buyers will know how much money you're looking to make on their backs. And no customer likes the feeling of that knowledge. So if you are asked, LIE!

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Old 01-29-2005, 06:28 PM
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Default Re: Boats bad investments???

Quote:
Originally Posted by baronmarine
2 happies day's in a boaters live is the day he buy's and the day he sells
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Old 01-29-2005, 06:37 PM
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$139,000 in 97 for a 93 42 Fountain...$110,000 in upgrades/updates over the last 6 years= worth about $120,000 today, bad investment.
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Old 01-29-2005, 11:31 PM
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Quote:
Originally Posted by super termoli
Some people make good money on boats. Firstly, you have to move around the docks and marinas and know people. So that when there's a fire sale, you know about it on time. Then, you have to have cash in hand and I'm afraid you also have to be ruthless and offer ridiculously low amounts to people who you know are in financial distress. Then, you have to know your way around boats because when you offer an immediate low cash amount, it's usually "as is, where is" and there's no survey, no lifting out of water and no oil analysis... The second reason you need to be handy around a boat is because fire sale deals are very rarely boats in immaculate condition. Chances are costly maintenance has been dodged by an owner in financial difficulty. Things will need fixing and/or replacing, that's for sure. It's obviously cheaper if you can do it yourself while you're adding value to the boat. You also need to be a very flexible person and look at boats like a business opportunity, not like toys for your personal use. A fair bit of rational thinking is required which is not easy when you're looking at boats. You need to look at the marketability of that particular brand and model, not at whether you like it or not. If the marketability is good but you don't like it, resell it immediately. If you like it, keep it and its sale 2 or 3 years down the road can pay for maintenance and fuel. That's right, boating for free.

BTW, this is virtually impossible with new or very recent boats. You do not want to be around when that initial depreciation hits in the first 3 to 4 years. And most importantly, refrain from bragging to your friends what a fantastic deal you've made on a boat. Before long, the whole nation will know how much you paid for it and consequently, most potential buyers will know how much money you're looking to make on their backs. And no customer likes the feeling of that knowledge. So if you are asked, LIE!
Yup ..I do this with all my toys .. I buy my snowmobiles in the off season from some guy who realized he has ten grand in toys that he cant use for 6 months and needs to remodel the kitchen for mumma or got laid off etc .. Ride em for a season or two then sell em for market ie you rode for free last year .. You can do the same with anything .. yes you have to do your own repairs / maintenance , this is a big expence for people without the skills ..
But finance a new rig so you can be upside down .. Ya you might be able to invest the cash and net the interest on your boat loan ..But why not be smart about your boat purchase and keep the money ..
I guess what im saying is if you realy want to pi$$ your money away , go buy a brand new got to have it ..for 240 payments ..
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Old 01-29-2005, 11:38 PM
  #39
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Default Re: Boats bad investments???

It's like alling a car or drinking beer an investment. Disposable income comes to mind.
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Old 01-29-2005, 11:41 PM
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Quote:
Originally Posted by bajalion
It's like alling a car or drinking beer an investment. Disposable income comes to mind.
True ..but limiting the rate at which you " dispose " of it is the key .. It is possible to not dispose of any of your income if you are practical about it ..
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