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Old 13-11-2011, 16:53   #1
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Where Has My Thinking Gone Wrong ?

I have a plan, and it seems soooooo simple. That is why I am assuming I must be missing something.

I want to get into sailing, but I am not a rich man. So here is the plan:

I plan to buy a small boat such as an old O'Day 27 on the cheap for 4G or so. Fix it up in bristol condition, re-sell. Buy an O'DDay 30. Rinse Repeat. Later, move to Bristols until I am at my dream boat of a Bristol 40.I do not plan to get a severely damaged boat for nothing and have it sink my finances. Something with Smaller engine probs, a solid hull, but just damn ugly and neglected.

Here is my skill set:

In the past I have repaired several power boats. both wood and fiberglass. I am not a mechanic, but have rebuilt 2 gas auto engines in my day. I built my house(to include all framing, electrical, plumbing, heating, finishing). I have some experience working with composites (E glass S glass Kevlar Carbon Fiber... etc). And once built a 12' wood lapstrake rowboat.

Nautically, I have a 6 pack Capt ticket (no sail endorsement). I spent 7 years on the Great Lakes ore boats up to and including an AB (unlimited) wheelsman.

I have spent the past year learning all I can about sailboats and the market thereof.

Seems like a no-brainer. But as I also have no brain, I am sure I am missing something.

With the combined years of experience here (if added up would approach the time of "The Firmament") I am hoping you can tell me if I am on the right track.
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Old 13-11-2011, 17:07   #2
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Re: Where Has My Thinking Gone Wrong ?

WARNING: Bucket of cold water follows...

It's the 'fixing up' part that is flawed. You won't receive value for value (sweat equity plus parts/materials). The market will not currently support that process like it used to. Remember the house flipper biz? That no longer works either. There is a surplus of boats in your market price range. Even good "clean" ones are going cheap, let alone the fixer uppers.
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Old 13-11-2011, 17:08   #3
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Re: Where Has My Thinking Gone Wrong ?

Quote:
Originally Posted by bogdwell View Post
I have a plan, and it seems soooooo simple. That is why I am assuming I must be missing something.

I want to get into sailing, but I am not a rich man. So here is the plan:

I plan to buy a small boat such as an old O'Day 27 on the cheap for 4G or so. Fix it up in bristol condition, re-sell. Buy an O'DDay 30. Rinse Repeat. Later, move to Bristols until I am at my dream boat of a Bristol 40.t plan to get a severely damaged boat for nothing and have it sink my finances. Something with Smaller engine probs, a solid hull, but just damn ugly and neglected.

Here is my skill set:

In the past I have repaired several power boats. both wood and fiberglass. I am not a mechanic, but have rebuilt 2 gas auto engines in my day. I built my house(to include all framing, electrical, plumbing, heating, finishing). I have some experience working with composites (E glass S glass Kevlar Carbon Fiber... etc). And once built a 12' wood lapstrake rowboat.

Nautically, I have a 6 pack Capt ticket (no sail endorsement). I spent 7 years on the Great Lakes ore boats up to and including an AB (unlimited) wheelsman.

I have spent the past year learning all I can about sailboats and the market thereof.

Seems like a no-brainer. But as I also have no brain, I am sure I am missing something.

With the combined years of experience here (if added up would approach the time of "The Firmament") I am hoping you can tell me if I am on the right track.
Why not?..DVC
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Old 13-11-2011, 17:17   #4
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Re: Where Has My Thinking Gone Wrong ?

I doubt if you would get your costs back, let alone your time.
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Old 13-11-2011, 17:27   #5
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Re: Where Has My Thinking Gone Wrong ?

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Originally Posted by David_Old_Jersey View Post
I doubt if you would get your costs back, let alone your time.
To be honest, the time is not important. I want to cruise full time, and I do enjoy this type of work.
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Old 13-11-2011, 17:27   #6
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Re: Where Has My Thinking Gone Wrong ?

I suggest you just jump to a 40' fixer upper and save the "steps".
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Old 13-11-2011, 17:33   #7
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Re: Where Has My Thinking Gone Wrong ?

Don, as a long time lurker here, I have always enjoyed your posts.

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I suggest you just jump to a 40' fixer upper and save the "steps".
Can you explain the logic here?
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Old 13-11-2011, 17:36   #8
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Re: Where Has My Thinking Gone Wrong ?

Quote:
Originally Posted by cchesley View Post
WARNING: Bucket of cold water follows...

It's the 'fixing up' part that is flawed. You won't receive value for value (sweat equity plus parts/materials). The market will not currently support that process like it used to. Remember the house flipper biz? That no longer works either. There is a surplus of boats in your market price range. Even good "clean" ones are going cheap, let alone the fixer uppers.
Ditto! Theses days you would have to buy the highest of quality boats at their lowest prices, fix'm up and sell fast to make it worth while. Slip fees and storage will eat up profits, unless you have your own personal ship yard (paid off). It's a buyers market right now.


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Old 13-11-2011, 17:41   #9
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Re: Where Has My Thinking Gone Wrong ?

Quote:
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I suggest you just jump to a 40' fixer upper and save the "steps".
I agree with this approach. Buy the one you will keep and do the labor of love on that one. I'm not sure the logic is transferrable but its kind of like getting married: Women find the men they want then "train' them to suit.

Oh well, my 2 cents.
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Old 13-11-2011, 17:42   #10
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Re: Where Has My Thinking Gone Wrong ?

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Originally Posted by bogdwell View Post
Don, as a long time lurker here, I have always enjoyed your posts.



Can you explain the logic here?
From this to that in 10 years at half the cost of new. All new parts except hull/keel/rudder, winches (rebuilt). If you have the skills you'll save thousand$
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Old 13-11-2011, 17:42   #11
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Re: Where Has My Thinking Gone Wrong ?

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Slip fees and storage will eat up profits, unless you have your own personal ship yard (paid off). It's a buyers market right now.
I get that. But as I plan to live aboard. Won't that make up for the rent that I now pay?
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Old 13-11-2011, 17:42   #12
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Re: Where Has My Thinking Gone Wrong ?

It used to be that you could buy material at decent prices and then use sweat equity to rebuild boats. I'm not convinced that you still can. The cost of material that is quality and sailboat appropriate is not only really high, it is 50% (at least) more than you plan on. I just added two more solar panels to my boat. Got a great deal on the panels, less than $400 for both. By the time I'm done with the mounts and everything I'm into this thing a grand. And I did everything myself except the stainless welding. Just can't see making money on boat swapping. Why not get experience on others boats -- crew on a race boat for a season or two. They always need crew, are willing to train and it will teach you a lot about sails and sailing. Then find a smoking deal from someone who is dumping a boat and fix her up to your liking.
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Old 13-11-2011, 17:47   #13
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Re: Where Has My Thinking Gone Wrong ?

Ahh Nike commercial said it best, just do it get what you want live on it and fix it up as u go if it floats and sails it's a good start.. Trading up takes a long time or do what I did build one..
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Old 13-11-2011, 17:49   #14
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Re: Where Has My Thinking Gone Wrong ?

Working your way up by fixing up and reselling is flawed. You will just lose on each one. Might be better to buy a bargain larger boat and spend the years fixing that one up as you live aboard.
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Old 13-11-2011, 17:57   #15
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Re: Where Has My Thinking Gone Wrong ?

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I get that. But as I plan to live aboard. Won't that make up for the rent that I now pay?
Could you live inside a single-size-garage wood shop?
Everything is buried under everything else, tools, clothes, food, chemicals, papers and fiberglass dust. There's not enough room for all the supplies and tools needed just to do the work.

Quote:
Where Has My Thinking Gone Wrong ?
You asked!
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