I'm looking to buy a boat from a local brokerage. It is a 1976 30-foot ketch
. Lacking an engine
, and for sale
because the owner has accumulated significant past due moorage fees
, it is selling for about $1000, "first come, first serve."
What sorts of additional expenses are there to consider? Is a 40 some-odd year-old boat with no engine
worth paying for the inspection
, and if so, how much might I expect that cost?
-I plan to be primarily a live-aboard, with cruising limited due to school
, etc. So outfitting it with an engine at this time is not a priority. I'm considering a $1500 electric motor
-I have no prior credit history
. That's not to say bad credit, simply no credit. Whereabouts might I be able to get a loan? I make close to $1000/month, so the only reason I need a loan to begin with is because I have rent, bills, and so on to factor in. But in spite of its small amount and my income
, would it still be considered a high-risk loan?
-My plan is to live aboard in the semi-near future, possibly as soon as July or August, but I do need to factor in several months of slip fees
until my current lease