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View Poll Results: how did u buy your FIRST boat?
savings only 44 69.84%
credit + savings 15 23.81%
credit only 1 1.59%
savings + money borrowed from relatives 0 0%
credit + money borrowed from relatives 0 0%
robbed a bank/ found a suitcase full of $ 3 4.76%
Voters: 63. You may not vote on this poll

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Old 20-08-2008, 11:20   #31
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I had to sell the first big boat (with a big bank note to match) in order to live on an early retirement. A series of strange and wonderful things happened to make this one possible. Don't discount a benign benevolence!
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Old 20-08-2008, 11:25   #32
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(not including the sailing skiff I fond up in the marsh and bought from local fisherman for $100). I was 12 years old when I decided I wanted to spend my life living on a boat and travel about the world, this was alos my father's unrealized dream. By the time I could afford a boat (about 35 years later) I knew enough about boat to know I should have someoen who knew more than I did look closely at the boat. The man who looked at my boat said 3 words to me "But it now.", and I'm glad I did, I have never paid for any "big ticket item" with anything other than cash. This is my home, I want to own it...I don't want pay a bank to be able say I do, when I really don't.
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Old 20-08-2008, 14:52   #33
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I voted savings only. But the real question is how much did I spend after buying it.

Maybe another thread.

David
69 Morgan 30'
CarolAnn
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Old 20-08-2008, 17:24   #34
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For me $1. Surveyour told me the boat was a threat to burn to the waterline in the slip. No AC breaker or Ground. Of course that $1 investment has cost me about 15K but she sails and she is mine.
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Old 20-08-2008, 18:43   #35
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This is really 2 but they are only 4 weeks apart. Bought the first one for $1000, a Catlina 22, then 4 weeks later found a 27 for the same $1000, one of those who bought a new boat and needed the slip (which I already had) went down to $800. The goose neck broke on the way out of the marina, the man who sold it felt bad and gave me the $$ back. Then I sold the 22 for $1300.

Yes I made money off a boat sale.......
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Old 20-08-2008, 19:15   #36
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sold my house and all my stuff and bought it straight cash.
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Old 20-08-2008, 19:36   #37
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Even though I'd sailed all my life on Galveston Bay I didn't own a boat until my dad decided to go the land yacht route and sell his Catalina 30. In the deal was a decrepit Aquarius 23 which he gave me for finally graduating college in 1986. So I didn't officially buy my first boat, a 1969 Santana 22 (cash), until a couple years later. It was an awesome boat until we got a great deal on a 73 Columbia 30 (cash and owner finance). I would have kept the Santana if the first mate had allowed 2 boat slip fees. After owning the Columbia for 14 years, we upgraded to a 2000 Catalina 320 last year (cash and finance).
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Old 21-08-2008, 00:07   #38
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We paid $500 cash for a Hobie 16. Our second boat we borrowed about 1/2 the money from our 401K.
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Old 21-08-2008, 11:16   #39
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When I got a boat I made sure that I didn't *have* to do anything to it to get it to the point where I do what I *want*, but by the same token wasn't paying for someone else's bright work. I spent the last year deciding what I am going to do to the boat (along with 30 years of accumulated ideas). I am rebuilding the interior as well as hatches, and stuff on deck, etc
If you have a sound hull, anything else can be repaired, replaced, rebuilt, redesigned, upgraded or just done with out.
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Old 21-08-2008, 12:23   #40
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We were a bunch of friends, about five. At least one of us didn't have any money but joined anyway, so everything was cach of course. Bought a 11 meters/12 tons ketch built 1927. Oak on oak. Both the engine and the sails were from the 1950:s. (This was early 1990:s.) People were laughing when we hoisted our wrinkeled, but otherwise perfectly fine, cotton sails to sail out, since the engine wasn't worth the bother, it only run on one cylinder, and only forward, sometimes and gnerally was a nuicanse.
/matti
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Old 04-09-2008, 23:08   #41
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Quote:
Originally Posted by Holding Pattern View Post
7 years of paying off debt and accumulating THE original kitty...
We put price tags in everything in the house...pay me, take it off the wall, never to be seen again. We also put a price tag on the house. We sold so many things that the cats got nervous thinking they were next.
We (us and PO's) were members of the same bank so we went and transferred funds and then went out to dinner together.
So Brian,

Why don't you tell all your friends here how you sold Holding Pattern?
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Old 05-09-2008, 18:10   #42
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Greetings all -- first post here. Learned to sail in the BVI, then about a year and half later decided a big part of sailing for me was about location, that meant de ilons, so I did what I thought I wouldn't do and put a Beneteau 40CC into a charter management program. Put a quarter down, financed the rest at 9.25% but eventually got it down to 6%. Had a 10% per annum return so I was able to pay the boat down quicker. The program worked out for me with depreciation etc., from 01-06 but I won't do now. Also got to sail the entire line of cats and other monohulls, so the sailing benefits were great. Right now I'm focusing on a few IP380s for Chesapeake and Caribbean cruising. Cheers... JD
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Old 07-09-2008, 17:33   #43
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64 aussi $$ way back when I was 14. Northbridge jnr, 8ft skiff, cotton sails and all. Had a ball and been hooked ever since
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