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Old 09-06-2016, 10:57   #91
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Re: Buying a donated boat

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Originally Posted by bobofthenorth View Post
Actually if you pay taxes then you pay DEARLY for stats from the government. Gummit is definitely the high cost provider in that market. Doesn’t make them worth any more but don't kid yourself, they're not free.

R.J.(Bob) Evans
www.bobandmarilyn.ca
Ah, true. But then I don't pay taxes, well income tax any way, as I fall well below the minimum rate. Being poor has it's advantages.
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Old 09-06-2016, 11:04   #92
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Re: Buying a donated boat

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And college is the ONLY place to gain a skill.

Actually, college is probably the only place to start your life drowning in debt with practically no marketable skills if you choose the wrong major.

HELP!! My Yanmar won't start, go find me a political science graduate to get it going.
Yeah, for a job skill a better bet is the military. You can get the job skill there and they will usually pay you to go to college after you get out. Then you can major in what you are really interested in not necessarily what you are good at or what makes the most money. You know, learn something.

That way it's win/win. Job skill/education/no debt
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Old 09-06-2016, 11:04   #93
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Re: Buying a donated boat

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Originally Posted by sailorchic34 View Post
Ah, true. But then I don't pay taxes, well income tax any way, as I fall well below the minimum rate. Being poor has it's advantages.
I got a kick out of the cube life and commuter life comments.
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Old 09-06-2016, 11:11   #94
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Re: Buying a donated boat

Well, I wish them the very best with this adventure

There is a shed load of knowledge on CF and with members, you have many a nights reading ahead of you.

Nice looking boat from the photos, engine runs, has sails and is still afloat after a few days, bargain

Money will be tight, but that's fine, plan carefully and learn for the mistakes many on here have made.

BTW, if you think you have a project then have a read of this thread for inspiration:

MacWester 26 and the 'hina-ous' Crew

Good luck
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Old 09-06-2016, 11:12   #95
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Re: Buying a donated boat

You definitely don't need the engine. Why not just throw it and simplify your life?
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Old 09-06-2016, 11:23   #96
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Re: Buying a donated boat

Looks like it will be a great boat. Good luck to you.
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Old 09-06-2016, 11:52   #97
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Re: Buying a donated boat

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He won't get insurance without a survey. And he won't likely get a slip without insurance.
I didn't have a survey on my $2,000.00 boat either.

I have insurance with State Farm: $500,000 Liability, $9.50/month. You have to have it at my Marina.

I painted the topside hulls after I had the boat for 4 years. No structural work so far
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Old 09-06-2016, 11:59   #98
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Re: Buying a donated boat

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After reading this thread, my advice to you is: forget the boat. The guy who said you can't afford a boat was right. You need to increase--greatly increase--your earning power. In short, you need an education and a career. Every waking moment for the next few (4? 6? Whatever it takes) years should be spent working, earning, saving, planning to get into the right major, in the right program, at the right school and then succeeding at that school so you can get the right job in the right field to build a successful career and reap the financial rewards that will allow you to have a wife, a home, a family, and, later, a boat. Young people who have not yet graduated from college own Lasers if they own a boat at all. Young married couples (usually with college educations) own Lightnings or J24s. Men and women in their mid thirties who have advanced several levels in their careers own thirty footers. Not you. I have sailed and raced all over the eastern half of the US, at scores of yacht clubs, known hundreds of sailors and boat owners. Not one of them was a cook or receptionist; not one boat owner made his living scrubbing boat bottoms.

There is a time for everything. Now is the time for you to lay the foundation for a successful life. Not to own a 27' sailboat with a diesel engine.

Paul

PS. Before everyone raises a din, let me say of course one doesn't need a college education to succeed in life. But the same drive, determination, and grit is needed to build a construction company or trade the markets successfully. It can be done. Still, most people who have their own company or are successful traders went to college.
Don't listen to this guy. (Plus, college takes too long to learn a job skill. I have a BA and haven't made a penny on it except the money I was paid to go!)

I had a power boat when I could barely pay rent as a 21 year old. The boat made me happy. I paid $700.00 for it. It was like my 5th old boat at the time.

I could also usually scrap up a few pennys on Thursday before payday for a quart of beer and a few smokes!

Btw, that particular boat had a 55 HP Homelite Bearcat 4 stroke engine. I replaced the lower seal due to an oil leak

http://www.4cyclemarine.com/bearcat.html
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Old 09-06-2016, 12:06   #99
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Re: Buying a donated boat

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You definitely don't need the engine. Why not just throw it and simplify your life?
Throw away a working Yanmar? This is getting silly.
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Old 09-06-2016, 14:01   #100
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Re: Buying a donated boat

Reality... if they live aboard that thing and make it work... the savings vs an apartment will be about $7k to 20k a year. You can do (or pay for) a lot of rehab for that kind of cash. And then they have the boat, vs rent just being gone.
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Old 09-06-2016, 14:48   #101
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Re: Buying a donated boat

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Originally Posted by thomm225 View Post
I didn't have a survey on my $2,000.00 boat either.

I have insurance with State Farm: $500,000 Liability, $9.50/month. You have to have it at my Marina.

I painted the topside hulls after I had the boat for 4 years. No structural work so far
That should be interesting to a no. of people since marinas seem to demand insurance. I'm sure it is just liability they are concerned about.
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Old 09-06-2016, 17:31   #102
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Re: Buying a donated boat

I was very tempted with the Catalina 27. My last boat was a 25 and I sold it for double what this boat cost. It had a diesel that ran great and sails.
As we said in real estate, there is a house for every buyer. There is also a boat for every sailor, choose wisely. I know others that have saved boats from Marina salvage. They would have never been able to afford a boat.
Now they move on board and work on the boat as money allows. They are not throwing money away on rent.



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Old 09-06-2016, 17:38   #103
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Re: Buying a donated boat

We took her out for a sail today, and it was magnificent. We made the right decision, and we are very happy with how this boat is shaping up. I will definitely post updates, and I am sure I will post plenty of questions as well. We got a really good deal on this boat!
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Old 09-06-2016, 20:01   #104
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Re: Buying a donated boat

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...I would agree that many find the collage path an easier path to a high paying job.
It worked for Warhol!

Paul
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Old 09-06-2016, 21:01   #105
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Re: Buying a donated boat

I am very glad you are happy with your purchase and I wish you the best, but I am still strongly of the opinion that you would be much better served by using your youthful years to get a good education and launch a real career. You'll get not one dollar's return from rebuilding an old glass sailboat even counting your labor as zero. From the right career (Interpretive Dance--probably not the right major) a twentyfold return, with compounding, perhaps much more.

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We would much rather work and scrape by, literally scraping barnacles than get a $50,000 dollar student loan and HOPE that we could get good jobs.
Forgive me, but that sounds like the response of a petulant child. I mentioned hard work, saving, and planning; nothing about borrowing. It is possible to graduate college debt free. One example among many: go to the Naval Academy, major in engineering. Think the navy has any need for marine engineers? Save your pay during your four year commitment and pick up a master's at MIT when you get out. BSME from Annapolis, MS from MIT, and four years of work experience. What do you think that would be worth on the market? Just one of hundreds of possibilities you could find with a little effort. (Webb institute and College of the Ozarks also offer free tuition to all students). Look ahead ten, fifteen, twenty years...want to still be scraping barnacles or rather have a home, family, and yacht? They all cost money.

You asked for advice...from now on, I'll keep my mouth shut, I promise!

Paul
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