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Old 28-06-2015, 11:28   #16
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Re: The Business of boats

Keep in mind with the house and car flipping shows, it you dig around on the internet, there are typically reports that they don't make nearly as much money as they claim. Usually they lose money. It's reality TV. If it was that easy, everyone would do it.


There are some who make money but basically put lipstick on a pig and dump it on an unsuspecting buyer. To do a quality refit is expensive. Far more expensive than even a pristine 1980's era boat would be worth.
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Old 28-06-2015, 11:35   #17
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Re: The Business of boats

If you wish to flip something make it raw waterfront of highway property just beyond a growing city or town.
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Old 28-06-2015, 11:41   #18
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Re: The Business of boats

Maybe a bit off topic, but what about purchasing quality boats in hard to sell locations (Mexico and Latin America for example), then sailing them back to where the markets are...along with a quick refurb (bottom paint, cleaning, polish, etc.) seems to me there could be some money made there, but haven't done it myself.
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Old 28-06-2015, 11:56   #19
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Re: The Business of boats

Friend of mine once said to me:

"I know how to make a small fortune in the marine industry."

"How's that?" I asked.

"Start with a large fortune."
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Old 28-06-2015, 12:42   #20
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Re: The Business of boats

Quote:
Originally Posted by RokNRich View Post
Maybe a bit off topic, but what about purchasing quality boats in hard to sell locations (Mexico and Latin America for example), then sailing them back to where the markets are...along with a quick refurb (bottom paint, cleaning, polish, etc.) seems to me there could be some money made there, but haven't done it myself.
I suspect for the same reason, the prices are cheap in those locations in the first place.

It costs money to travel and look at boats. Many will be pure junk, then you have to refit them enough to sail them back, then the customs guy takes a cut when you bring it in.

There will always be the exception but a hard way to make money.
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Old 28-06-2015, 12:54   #21
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Re: The Business of boats

How to buy boats cheap
By Scott Fratcher
How to buy boats cheap by Scott Fratcher (eBook) - Lulu
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Old 28-06-2015, 13:49   #22
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Re: The Business of boats

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Originally Posted by rgesner View Post
How to buy boats cheap
By Scott Fratcher
How to buy boats cheap by Scott Fratcher (eBook) - Lulu
JMHO,

The only one here making money is the guy selling the book. If it was that lucrative he would be flipping boats not selling $9.00 books.
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Old 28-06-2015, 14:50   #23
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Re: The Business of boats

My wife and I have flown all over the world to buy inexpensive, project boats. We cruise while scrubbing mold and mending systems. We live on them usually in extraordinary settings. We sell them and typically do little better than breaking even but this is what we do for fun. It pays for our cruising habit.

We ship our tools, SSB, windvane, etc ahead of us.
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Old 28-06-2015, 14:59   #24
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Re: The Business of boats

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My wife and I have flown all over the world to buy inexpensive, project boats. We cruise while scrubbing mold and mending systems. We live on them usually in extraordinary settings. We sell them and typically do little better than breaking even but this is what we do for fun. It pays for our cruising habit.

We ship our tools, SSB, windvane, etc ahead of us.
Great plan!
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Old 28-06-2015, 16:15   #25
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Re: The Business of boats

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My wife and I have flown all over the world to buy inexpensive, project boats. We cruise while scrubbing mold and mending systems. We live on them usually in extraordinary settings. We sell them and typically do little better than breaking even but this is what we do for fun. It pays for our cruising habit.

We ship our tools, SSB, windvane, etc ahead of us.



My plans exactly.
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Old 28-06-2015, 18:29   #26
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Re: The Business of boats

That is a good approach, much less stressful than trying to refit for a quick flip.
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Old 01-07-2015, 00:39   #27
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Re: The Business of boats

Thanks for all the comments! I didn't at all think this would be something that is easy to do or could make me filthy rich. I would also think if I decide to anything like this, I would also broaden my scope to ATV's, snowmobiles, cars and so on since I have worked on all those as well. But a boat would definitely be on my list of things to do as well!!
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Old 01-07-2015, 09:10   #28
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Re: The Business of boats

There is fellow on my lake that does this
But he limits himself to
Trailerable Daysailers
He stores them on trailers in his yard
If it's got any electrics or more than
9hp outboards
He's not interested
Seems to flip 5 or 6 a year
He has done some amazing restores of
ODay day sailers
But as he says
"It's his therapy"
And it' way less than a shrink
Sometimes he even makes money
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Old 01-07-2015, 10:54   #29
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Re: The Business of boats

Boats & business are generally a bad combination, especially if you own the boat. There are much more effective ways to make money.
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