Jay I did my loan in Oct. For 5.75 % . are you sure home loan are mid 3's ? If so there you go Scot let's raise the budget to $300k and we can use my boat as a trade in.

Ill be broke hanging out with you guys
-Mike

Wow....that's really good Frank. Who did you use???? Home loans with good credit...good down payment are roughly 3.5-4.0%.

Then I was wrong.......Scot does need to bump up his budget! :lolhit:

Hey Scot...... how about a nice 2007 Formula 292. Frank will attest to it being a nice ride!

The boat is super clean and the owner is open to offers. Jay I used Debbie at Sterling right in Old Saybrook. I can give you or Scot her number when you guys are ready:drink:

Kevin not sure if we need to start a whole new thread for Jay to find a boat for him some where that takes trades. What about that 35 Donzi down at Ocean with 496's I think pat says that boat runs 90.

Nope minimum of 38/42 next ride (plus I don't like Donzi's)........whenever I can ditch this one! :angry-smiley-038: Maybe this spring..... :drink:

But this is SCOT"S thread!!!!!

The Donzi runs around 80-82.

^^^ Hahahaha, Dans the best!!!^^^^^ I heard in the 3's, but only for the first five years of the loan.....just what I heard. Im afraid Scot is having second thoughts here. Which means his big cat hopes are diminishing....Now, back to a v hull! Im not giving up. So, what is my new target price? Sh!t, we may be able to work a deal on Studio54 ! Hahahahah, and no Bravos Scot! At any rate, Scot will always have a ride this summer. I may need a DJ to spin spin records when we dock up!

I think that is the new name "STUDIO 54"

LOVE IT! :cool:


Guys, rates are in the 4's for home refi's, still pretty cheap. 5.75 is damn good for a boat loan. I've never looked into them, but I thought they were in the 9's+.


Thanks for the offer to be someones boat bit@h guys. :kiss: I'm still planning on buying another boat for this season, still just not sure what it's going to be or what the price range will be. Could be an older beater, could be a 42 OL... but I'm still waiting for that call from Scott! :drink:


BTW, got a response back on that LS:
"Hi the boat is in france country it s'not problem to send to states because this boat coming from san francisco 4 year past
Regards
Bernard"
:lolhit:

I would never finance a boat F that. If I cant pay cash for it you wont see me in it!



Scot you'll always be my BOAT *****, mostly cause your not afraid to invite yourself.LOL

Put the freakin Power head on and call it a day. did anyone notice its a bad economy?

I think you may be waiting a while for that call back from Shogren.:evilb: I bet if you come up some on your range it would be close to buying that boat. At least it needs nothing. My friend in Milford just sold his 42GTX (Glass) with Merc 850's and loved it. He said the boat hauled through 4-5's at 90-100 with ease.

Me X2!!!!!!:lolhit:

while this may be true...keep in mind, buying an outerlimits means having outerlimits income...which in short means...the owner better have a lot of disposable cash. buying the boat, fuel, trailer, and truck are the insigficant costs associated with this type of boat...i know you already know this...


scot, im not trying to downplay your income level or judge you at all...just saying, many of these recommended boats are insane money holes...not say all boats arent but the ones mentioned are mega black holes vs a moderate 2002 35 donzi zr which wont cost you nearly as much in maintenance, insurance, etc...once you go supercharged engine, expenses grow exponentially...if i were you, i would go staggered 525's...just my 0.02. nothing personal of course. just my opinion.

Jeff, I can understand paying cash for your boat, BUT that Mr Magoo windshield I thought would you would have to take a note on for sure!!!! Those things are RARE. Scot, after this post, I would beg, borrow and steal to get a boat THIS year. You dont want to go any longer being know as Jeffs Boat Biotch........He seems to enjoy the title.

Easy to say but that will limit some to what they can get. For me it is the smart money buy. I write my boat off though my business( I do take clients out often). So I need to take the interest minus my deductions and beat that number with my investments. In the end I can buy more boat then I would if I paid cash, because like Scot is seeing I would never take $120k from my future and plunk it down on a depricating asset. My Cafe was paid off but I owed $9k on my home equity. So when it sold I paid that off. My guess is many have credit card debt that is staggering. Most CC debt is between 13-20% and no write offs. I have not had any credit card debt in 15 years. I pay that thing off every month. But like I said the boat I will not own for 20 years and won't pay this off, so for me and my situation this makes the most dollars and sense. At least I can point to the boat and say that is what I owe the money on and it still has a value. From what I see at work there are many with credit card bills that equal the price of a car and they can not tell me what it was all spent on. If boat loans where in the 9' this would never work for me nor would own the boat I do now, I would have gladly kept the Cafe. And for the record the only reason I bought the Tiger was because Scot told me too :drink:. Scot I know you can find something nice and cool for $50-$70K, but it will most likely be a bravo boat, but then again I don't see that as a bad thing.

More good points Frank, makes total sense. Gosh, you should become a financial planner or something! With that being said, youve kept me in a sport that sucks my bank account dry! So Im not sure hanging with you is benificial or not! I was happy with my 22 Donzi classic! Hey, nothing like living beyond your means!!!! Like we always say........YOU CAN PUT A PRICE ON A GOOD TIME! Buy buy buy buy buy........

You don't have to be rich to live like a millionaire!:lolhit:

go to south florida and you will know how true this is....its worse down there cause the locals try to keep up with the people from other parts of the country who have real money and they just cant do it.

Your welcome Scot................

http://www.offshoreonly.com/classifi...o37825-en.html


Maybe pick this up for 30K??

This is a good thread. I plan on buying soon and my bank is going to get me at 6%-7%. On a ten year note. Im ok with that.

What would it cost to rig that cat? 40K?

You take the whole boat as a business expense Frank? My accountant literally laughed at me when I asked him if we could do this. He said we can take the "interest" (second home) but not the whole boat. He said that would be a MAJOR red flag for the IRS. I told him about taking "clients" out etc etc etc.... but he again laughed. :lolhit:

I take the boat as a whole with all the expenses and write a portion through the business. So we are talking gas, rack, insurance and then my accountant includes it as a business expense. I also take clients out every week to so drinks meals etc. This is the only time being self emplyoeed works in favor by the way. I do not have the luxury of a cash business like some people. Kreed that cat is kick A$$ nice find it needs steering drives exhaust and some ponies. Some one could be it that boat boat for $80k with mild power.

deleted...

:eek::eek::eek:This WAS such a good thread Justin!!!!

Listen up jr. I would greatly warn you against questioning my integrity on any public forum. You and I will have big problem, I hope that is crystal clear! Second what do you know about my business and my taxes other then the little I have shared here. Are you a CPA at a major accounting firm in CT? Because very knowledgable. And reputatable accountant is. I love how you think you are authority on everything, you gotta growing up to do. I am more then happy to meet up with you if you would like to discuss this further

Uh oh...... I didn't mean to start anything between you guys!

Justin.... I wasn't saying that Frank was doing ANYTHING wrong.... as I've heard many people on OSO, who are also self-employed, take some or all of the boat as a deduction. I just wish I could talk my accountant into it.....being self-employed like Frank/Kevin. We have to take all the deductions we can...... as we get bent over ENOUGH.

I saw this coming..... all our good threads get f'd up.... Justin, Im not so sure you meant to be as blunt as you were in your post, or maybe Im wrong and you really do have strong feelings about Franks business practices. But IMO, you crossed the line here. Ive known Frank since middle school, so I know him pretty well. He has become very sucessful in the last 12 years because of his hard work and dedication. His business has made it through ALOT of economical short comings in the last 5 years with this economy and you dont get to that point by illegal practices..... and still stay afloat. Hes got hundreds of clients, some of which may be on this board. So, to call him and his business practices out in a public forum is definately not cool.

Some accountants might be more creative then others....but crooked? I would say that most accountants wouldn't risk their reputation and license to save someone else a couple of $'s.... just food for thought.

So what kind of boat is Scot buying.....? :cool-smiley-011:

Maybe Justin shouldn't have called him out like that but if he didn't want to be critiqued maybe it shouldn't be public knowledge. Do you put on a public forum that you cheat on your wife and then get mad when people tell you your wrong? Some things are better just being kept to yourself. IMO if you dont want to be questioned don't even put it out there. Not saying Frank's wrong cause I'm not an accountant but my gf is....

Come on. Lets not go down this road. I was really liking this thread

Adam I would agree with you but I am not on her saying I am doing anything wrong, because I am not! I run a highly successfull business. It's to bad others have to be so trivial and petty!

I agree.

302sport this was my intent...

dont drag me into this......:angry-smiley-038: hey scot you buy that Active thunder yet???????

i deleted my intitial comment..after reading it, definately didnt come across like i was thinking...i apologize. i am sure you run a honest business. i wasnt questioning its integrity at all...my main point was that i have several friends with companies (multi million dollar corps), that have difficulty writing off the simplest of items (company cars, lunch meetings, etc). so for you to write off your boat, seems odd to me.

i definatley do not think i am the authority on anything. when have i said that? i always say at the end of my posts that its just my opinion...so im not sure what you are referring to here.

here ya go. make it happen..........

http://www.offshoreonly.com/classifi...o37828-en.html

Hahahahaha......I was just lookin at that Adam!......Scot? :party-smiley-004:

Are you F-ing D-bags done F-ing up my thread?????????? How am I suppose to day dream and let you jackasses spend my money while you're bickering about what toilet paper Frank uses??? :mad:

Back to business... :D

+1