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Old 17-11-2008, 18:40   #1
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How did you fund your trip?

Hi -

Just wondering how you funded your long sailing trips?

Selling Real Estate?
Saving from working a job?
Inheritance?
Rental Properties?

I'm starting a business and a Realtor. I have been considering living aboard. I've worked a traditional job - but that seemed pretty slow for saving money. Any input appreciated.
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Old 17-11-2008, 20:17   #2
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Here is how I did it:

I worked a traditional retail job for 6 years. Each month putting as much aside as possible. I drove a piece of **** car, with no payments, and cut back on everything I could. After 5 years, I had enough to pay cash for the boat I wanted. That left me with about 12 thousand to do updates on the electronics, get a dinghy and outboard, outfit with some solar, etc.

Since my boat is paid for, there is little expense to the cruise. I have met people that do it with thousands a month to spend on alcohol, food, etc. and I have met people that do it for a few hundred a month.

I currently find work on the internet, and make enough each month to keep me in food and slip fees...but the slip fees will end once I hit the road.

My advice, buy a boat you can afford, without payments. You will be happier, and probably use it a lot more. Our marina is full of people with boats with payments. I rarely see them as they are all working. I am on my boat everyday, happy as a clam.

Good luck to you.
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Old 17-11-2008, 21:15   #3
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Hi CO Dreamer -

I have a POS paid for car that has 230,000 miles on it.

Care to elaborate finding work on the internet?

My advice, buy a boat you can afford, without payments. You will be happier, and probably use it a lot more. Our marina is full of people with boats with payments. I rarely see them as they are all working. I am on my boat everyday, happy as a clam.
***This seems to be good advice - I've seen it a couple times

I'll have to start thinking about time frames and capital requirements. I don't want to be "retired" before enjoying life.

Thanks for the insights.
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Old 17-11-2008, 21:34   #4
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I worked in Saudi Arabia for eleven years before taking off on our circumnavigation. We saved up Freedom Chips and paid cash for Exit Only, and then we set sail.
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Old 17-11-2008, 21:40   #5
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I worked as an Airline and Corporate Pilot for US an foreign carriers for 17 years and I am using all my savings plus inheritance. I am not planing to go back to work if at all possible. I am now 36 years old and I will be living aboard soon at the BVI.
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Old 17-11-2008, 22:53   #6
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earlier is better than later

whilst i dont regret anything about my life i often wonder where it might be now had i realized my dream to own a yacht when i was in my twenties and not my 50's.
paying cash for a boat that needs a bit of work on it is much more sensible if you are a handy-person and it gets you on a boat, which can be sold when a buyer comes along.

these days i fund live-aboard cruising by doing odd jobs for other yachties, for barter and cold-hard-cash for landlubbers.

the idea of living in marina doesnt appeal to me at all and as a rule i'll only use one when there is no alternative, the last time was for a few days about four years ago.


live the moment & good luck
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Old 17-11-2008, 23:03   #7
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Funding the trip

My wife and I will have our boat paid for in about 5 years (we both work). We currently live aboard so most of our income goes into the boat. When it is paid for an we owe nothing to anyone, we are both going to retire and cruise. I am retired military and will have that income (about $1500.00 month), as long as we are carefull we think we will do ok. worst case we sit at anchor somewhere and wait for the next months check. If only I could find a way to get it paid off sooner......
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Old 17-11-2008, 23:41   #8
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Hi Bruce,

I'm 37.

Quote:
Originally Posted by bruce in oz View Post
paying cash for a boat that needs a bit of work on it is much more sensible if you are a handy-person and it gets you on a boat, which can be sold when a buyer comes along.

these days i fund live-aboard cruising by doing odd jobs for other yachties, for barter and cold-hard-cash for landlubbers.
I'm somewhat handy - somewhat able to blunder my way through it - I have rehabbed a couple houses - never really thought about rehabbing a yacht. Haven't seen Yacht flipping on the TLC channel yet Might be worth a look though.

Investigating getting a small inexpensive boat and taking it around the US coast.

if you care to elaborate - What kind of odd jobs? how do you find the business?

thanks for the insights.
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Old 17-11-2008, 23:53   #9
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Quote:
Originally Posted by maxingout View Post
I worked in Saudi Arabia for eleven years before taking off on our circumnavigation. We saved up Freedom Chips and paid cash for Exit Only, and then we set sail.
Hi Dave,

Really nice useful web site. I found the bit about the pirate attacks interesting. Any pirating issues just cruising around the US coast/rivers? I really don't want to be packing. (2 glocks, 1 long range rifle, a shot gun, and a bullet proof vest?)

What did you do in Saudi?
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Old 18-11-2008, 05:47   #10
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I have heard and read that trying to take on odd jobs if you are in foriegn lands, can get a bit tricky. I am a sort of jack of all trades and able to take on most any project. Bruce, have you done any of this work in far wayay lands or here in the states? Any one else have any input?
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Old 18-11-2008, 05:57   #11
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By the way, the boat in my profile is not the boat we will be crusing in, we just purchased a 1977 Kelly Peterson 44. wonderfull boat
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Old 18-11-2008, 06:26   #12
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Saved up money as an employee for years, leveraged savings into building up a firearms company and sold the business with enough left over to be able to buy the boat and cruise around. Sounds easier than it was, but the fruits of labour are certainly nice!
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Old 18-11-2008, 06:38   #13
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Something that worked well for me was to cruise during the cruising season, then haul the boat out and come back stateside to work during the hurricane/cyclone season. The yards outside of the US are generally very reasonable for storage on the hard, and your boat gets a nice dry out. Return at the end of hurricane season, slap on a new coat of bottom paint, splash, provision and go on the next leg.
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Old 18-11-2008, 08:29   #14
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Quote:
Originally Posted by jbthehut View Post
I have heard and read that trying to take on odd jobs if you are in foriegn lands, can get a bit tricky. I am a sort of jack of all trades and able to take on most any project. Bruce, have you done any of this work in far wayay lands or here in the states? Any one else have any input?
i bought my yacht in a faraway land and then visited others sailing back here. i guess the ability to pick up odd jobs depends on how friendly you are. i mainly pick up jobs fixing electronics or computers but there nearly always seems to be someone who wants a hand careening/anti-fouling. gosh on Norfolk Island the folk were so friendly i had fruit & veg for weeks.

i dont deny some countries could be a nightmare, even when language isnt a problem, so there i just dont attempt it, asking can be enough to land a bloke in serious strife.

cheers
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Old 18-11-2008, 10:37   #15
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Starfish

I see you have a gulfstar, I looked at a couple of 47ft sailmasters. How do you like your boat? I read some extremly good things about them, and some not so good. Just curious to see how you have done.
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