Our Dream of Sailboat Living + Questions

[elee]

It sounds like you have done a lot of research already into the cruising lifestyle, and the types of boats. All of the above suggestions are good, but if I could add one more, it is to make a calendar. You said that you are thinking about setting off in 2 years. It might be helpful to roughly pencil in your goals over these next 24 months on the calendar as milestones in helping to achieve your goals. Here are some examples:

1. By next month, be comfortable feeling a small dinghy or Hobie cat.
2. Sign up with a racing boat at the local marina, be regular crew for the next 2 seasons.
3. Do ASA course 10x one this certain month
4. Visit boat show Oct 2019
5. Talk to a broker to get some ideas (not necessarily hire one) Jul 2019
6. Take diesel engine course Sept 2019
7. etc etc

My timeline is about 4 years from now, and I have some of these goals marked in my calendar to keep me on track. Plus, that commits you to a date so you don't up stuck in the dreaming stage forever!

[SV THIRD DAY]

Originally Posted by KingGuppy

Agree'd. We may not need the lithium, but will need a lot of power somehow.

We're not travel bloggers yet. We run marketing businesses with clients that require us to do computer work daily. Without power, we won't be able to earn an income and pay for things.
.

I started my water maker company from an anchorage in Mexico.
Built the website from an internet Café in the Northern Sea of Cortez.
and I've continued to run my water maker company from an anchorage or mooring ball. In fact there are MANY of us out here running businesses from a boat...Lithium not required.

I'm not trying to beat this horse...BUT I want to use it as an example because you went into this thinking it was a must have and now a few posts in may start realizing that what was once a "gotta have" turns into a "ah...no big deal without it".

So what other things will go from "Gotta Have" to no Big Deal as you get further down the road.

[a64pilot]

What is it that you think Lithium will do for you that a Honda generator won’t? $300,000 Cats all have BIG generators I’m sure anyway.

Everybody is trying nicely to tell you that you don’t know anything, not yet, 99% of the stuff you read on the Internet is written by people with little or no experience, don’t go by that.

Worst thing you can do (in my opinion) is to cruise on something you make payments on.
With your experience level who is going to Insure you in a $300,000 Boat you owe money on? That is just for starters.

[Tillsbury]

The only thing that terrifies me about your plan is the bit about "20% down". Financing a depreciating asset is a really bad idea and there isn't much that depreciates faster than a sailing boat. The boat you can afford is one that you can pay cash for without concerning yourself too much, and can pay the same again in maintenance over the next 10 years, and then perhaps get back half of what you paid for it if you're lucky. I second the suggestions above that you get yourself a well-known mid-30-footer and see how you go. You or your partner might be unfeasibly seasick or have a significant medical event causing the whole thing to have to be wrapped up. You could lose a lot of money trying to unload an expensive boat quickly and still having a loan against it.

[SV THIRD DAY]

Originally Posted by a64pilot

Everybody is trying nicely to tell you that you don’t know anything, not yet, 99% of the stuff you read on the Internet is written by people with little or no experience, don’t go by that.

Worst thing you can do (in my opinion) is to cruise on something you make payments on.
With your experience level who is going to Insure you in a $300,000 Boat you owe money on? That is just for starters.

An awful lot of folks get surprised when they get their $1000/Mo insurance bill on top of their Boat Payment. To put that amount of money in perspective, we were a family of 4 and cruised comfortably on an average of $1400/Mo for 4 years in Mexico!

[KingGuppy]

Originally Posted by elee

It sounds like you have done a lot of research already into the cruising lifestyle, and the types of boats. All of the above suggestions are good, but if I could add one more, it is to make a calendar. You said that you are thinking about setting off in 2 years. It might be helpful to roughly pencil in your goals over these next 24 months on the calendar as milestones in helping to achieve your goals. Here are some examples:

1. By next month, be comfortable feeling a small dinghy or Hobie cat.
2. Sign up with a racing boat at the local marina, be regular crew for the next 2 seasons.
3. Do ASA course 10x one this certain month
4. Visit boat show Oct 2019
5. Talk to a broker to get some ideas (not necessarily hire one) Jul 2019
6. Take diesel engine course Sept 2019
7. etc etc

My timeline is about 4 years from now, and I have some of these goals marked in my calendar to keep me on track. Plus, that commits you to a date so you don't up stuck in the dreaming stage forever!

Great idea and a great list already! Will do this.

Originally Posted by SV THIRD DAY

I started my water maker company from an anchorage in Mexico.
Built the website from an internet Café in the Northern Sea of Cortez.
and I've continued to run my water maker company from an anchorage or mooring ball. In fact there are MANY of us out here running businesses from a boat...Lithium not required.

I'm not trying to beat this horse...BUT I want to use it as an example because you went into this thinking it was a must have and now a few posts in may start realizing that what was once a "gotta have" turns into a "ah...no big deal without it".

So what other things will go from "Gotta Have" to no Big Deal as you get further down the road.

Congrats on the business, maybe we will find a boat with one of your water makers!

140watt per laptop * 2 = 280 watt * 8 hr work day = 2,240 watts / 0.85 efficiency rating = 2,635 watts / 12v = 219 ah used just to work per day on only laptops. This assumes we use absolutely no other electronics.

We figured 1kah+ would be suitable for other items, but the more the better, at least one of those laptops would likely run 24/7 which is another 300ah putting us at 500 used on only laptops.

math

Originally Posted by a64pilot

What is it that you think Lithium will do for you that a Honda generator won’t? $300,000 Cats all have BIG generators I’m sure anyway.

Everybody is trying nicely to tell you that you don’t know anything, not yet, 99% of the stuff you read on the Internet is written by people with little or no experience, don’t go by that.

Worst thing you can do (in my opinion) is to cruise on something you make payments on.
With your experience level who is going to Insure you in a $300,000 Boat you owe money on? That is just for starters.

Where do I store all that power from the generator?
In a lead acid battery invented in 1859 or a Lithium battery invented in 1977? We'd rather spend the extra penny now to use the better technology. The idea of worrying about battery depletion levels of an lead acid battery is something we'd rather not do when so many other things to worry about.

[SV THIRD DAY]

Originally Posted by KingGuppy

The idea of worrying about battery depletion levels of an lead acid battery is something we'd rather not do when so many other things to worry about.

You have more work to do on understanding LiFePO4 batteries Amigo. They drain down just the same as Lead Acid...I have them....they don't solve your energy usage issues...not by a long shot.
But what do I know....

Originally Posted by KingGuppy

math

.

The Famous Calculation knows all...so what I and thousands have been able to do before you is impossible...sure....you seem to have it all figured out....Good Luck.

[KingGuppy]

Originally Posted by Tillsbury

The only thing that terrifies me about your plan is the bit about "20% down". Financing a depreciating asset is a really bad idea and there isn't much that depreciates faster than a sailing boat. The boat you can afford is one that you can pay cash for without concerning yourself too much, and can pay the same again in maintenance over the next 10 years, and then perhaps get back half of what you paid for it if you're lucky. I second the suggestions above that you get yourself a well-known mid-30-footer and see how you go. You or your partner might be unfeasibly seasick or have a significant medical event causing the whole thing to have to be wrapped up. You could lose a lot of money trying to unload an expensive boat quickly and still having a loan against it.

Originally Posted by SV THIRD DAY

An awful lot of folks get surprised when they get their $1000/Mo insurance bill on top of their Boat Payment. To put that amount of money in perspective, we were a family of 4 and cruised comfortably on an average of $1400/Mo for 4 years in Mexico!

The S&P 500 National Return Rate Avareages
2015 - 11.96%
2016 - 12.25%
2017 - 22%
2018 - Waiting on it.

Loan rate on a 20yr marine loan is 4.99%. This means on every $100k i borrow, I get to keep my $100k vested, making 12% minimum return minus the 5% loan, which leaves me 7% gain, or $7,000. So borrowing $200k and keeping my $200k vested gives me $14,000 off investments alone. This is assuming 2015 numbers when the market was terrible. Assuming current numbers around 20%, I get 15% or $15,000 per $100k vested ($30,000yr for the full $200k vested).

By taking a loan and not using my own money I'm able to earn $14,000-$30,000 a year of just returns AFTER paying back the interest rate.

Gotta be somewhat financial savvy to afford a $300k boat at 30, right?

math

[KingGuppy]

Originally Posted by SV THIRD DAY

You have more work to do on understand LiFePO4 batteries Amigo...they drain down just the same as Lead Acid...I have them....they don't solve your energy usage issues...not by a long shot. But what do I know....

Ha ha ha...the Famous Calculation knows all...so what I and thousands have been able to do before you is impossible...sure....you seem to have it all figured out....Good Luck.

It's just math based on the factual data given by the companies that make the gear.

[Library70]

Contact one of the bigger bare boat charter companies like The Moorings, they can match you up with similiar couples who want a weeks charter but don't have a bunch of friends to go with. Spend a week on a mono hull and come back again and spend a week on a catamaran - I guarantee that you will fall in love with the catamaran lifestyle.
My wife and I have been full time cruisers for the last four years, we had very little sailing experience when we bought our Lagoon 410. We can't believe how easy it is to sail. Last winter we sailed 5,500 miles in six months and never once felt like we were going to flip over - not even close! Reefing is not rocket science, the manufacturer spells out how much sail you should have up for a given wind speed. If we had started cruising in a thirty ish foot monohull, we probably would not have lasted six months. We have met many cruisers who had little or no boating experience and bought their dream boat and sailed away. Our first trip to the Caribbean we joined the Salty Dawgs, learned a lot and met some of the nicest people in the world. Definitely take a blue water course but don't become one of those couples that do all their homework and never leave the dock. Your young, ambitious, and hard working, go live your dream! If you fail financially you have a lot of years to get back on your feet.

[KingGuppy]

Originally Posted by SV THIRD DAY

You have more work to do on understanding LiFePO4 batteries Amigo. They drain down just the same as Lead Acid...I have them....they don't solve your energy usage issues...not by a long shot.
But what do I know.

How much ah do you average use per day?

We definitely have a lot to learn about it all. I'm no wizard.

[smj]

Originally Posted by KingGuppy

The S&P 500 National Return Rate Avareages
2015 - 11.96%
2016 - 12.25%
2017 - 22%
2018 - Waiting on it.

Loan rate on a 20yr marine loan is 4.99%. This means on every $100k i borrow, I get to keep my $100k vested, making 12% minimum return minus the 5% loan, which leaves me 7% gain, or $7,000. So borrowing $200k and keeping my $200k vested gives me $14,000 off investments alone. This is assuming 2015 numbers when the market was terrible. Assuming current numbers around 20%, I get 15% or $15,000 per $100k vested ($30,000yr for the full $200k vested).

By taking a loan and not using my own money I'm able to earn $14,000-$30,000 a year of just returns AFTER paying back the interest rate.

Gotta be somewhat financial savvy to afford a $300k boat at 30, right?

math

Just gotta smile at this one[emoji38]

[KingGuppy]

Originally Posted by Library70

Contact one of the bigger bare boat charter companies like The Moorings, they can match you up with similiar couples who want a weeks charter but don't have a bunch of friends to go with. Spend a week on a mono hull and come back again and spend a week on a catamaran - I guarantee that you will fall in love with the catamaran lifestyle.
My wife and I have been full time cruisers for the last four years, we had very little sailing experience when we bought our Lagoon 410. We can't believe how easy it is to sail. Last winter we sailed 5,500 miles in six months and never once felt like we were going to flip over - not even close! Reefing is not rocket science, the manufacturer spells out how much sail you should have up for a given wind speed. If we had started cruising in a thirty ish foot monohull, we probably would not have lasted six months. We have met many cruisers who had little or no boating experience and bought their dream boat and sailed away. Our first trip to the Caribbean we joined the Salty Dawgs, learned a lot and met some of the nicest people in the world. Definitely take a blue water course but don't become one of those couples that do all their homework and never leave the dock. Your young, ambitious, and hard working, go live your dream! If you fail financially you have a lot of years to get back on your feet.

Lagoon 410! Beautiful cat to do it on.

Appreciate the positive feedback! Well be doing the ASA sailing school.

What are you enjoying about it the most?
How's internet access been in the Caribbean?
Any random things we should know?

Thanks again.

[donradcliffe]

This thread makes me laugh. Every time the OP posts, he sounds like he has it all figured out, but each new post shows that he is clueless. A lot of marketing is listening to what people have to say to you. All I can say is good luck with it and record it all--YouTubes of disasters are very popular.

[KingGuppy]

Originally Posted by donradcliffe

This thread makes me laugh. Every time the OP posts, he sounds like he has it all figured out, but each new post shows that he is clueless. A lot of marketing is listening to what people have to say to you. All I can say is good luck with it and record it all--YouTubes of disasters are very popular.

I agree.

We're clueless about most all of it. Never done most of it before so we have so much to learn.

There is a lot of great info offered by others here. Look at cheaper boats and smaller, won't need as much batteries, get 10x the experience we planned, create list of timeline events to make it happen. Tons of stuff we learned in just 24 hours.

Appreciate everyone's advice even if they may not have positive intentions. Sometimes you learn the most from them.