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Old 08-07-2006, 23:51   #16
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Congratulations Sean.

Too bad about your business though!! All that work you had put into it.

Like what Wukong said. Spend their inheritance now. I know I would.:cubalibre
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Old 10-07-2006, 13:51   #17
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Congrats Sean:

Take it slow. There are lots of advertising ploys in the Matrix that make you think you need this or that.They aren't true. Try to bend your mind around how you can continue your business w/o letting go of everthing.
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Old 10-07-2006, 14:11   #18
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Sean,

I missed the first sentence! You gonna be a daddy! Congrats! That gives you a whole different ball of wax to deal with.

Good luck on the next journey!

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Old 10-07-2006, 18:37   #19
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Charlie: You are a wise man. I definitely agree. We are completely done with the Matrix. We have a new alternative plan for land if we cannot continue living on the water.

It's really about dollars here in terms of cost of living on the water as well. There are some crafty ways we are looking at land living if it comes to that.

We'll see. I'll check on my other "which boat" thread and see how the results of possibly continuing to live on the water are going.

By the way, it's because of the mortgage on the boat that we can't continue, not so much because of boats in general. Someone who could afford our boat outright would do very well with this situation we are in now. We are just too cheap to pay interest. Now THAT is cheap!



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Originally Posted by Charlie
Congrats Sean:

Take it slow. There are lots of advertising ploys in the Matrix that make you think you need this or that.They aren't true. Try to bend your mind around how you can continue your business w/o letting go of everthing.
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Old 10-07-2006, 19:47   #20
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Hey Sean. Just catching up and saw your news.You have plenty of options and selling would not be my first choice. I would be slow to give up a boat that is finally refurbished to take on another boat project. You have plenty of time, so take your time. Selling the boat, I would give you the name of my broker here in New Engand. Selling the business usually takes longer so keeping it operational with cash flow is a must.
Unlike most of us who own a boat (liability), you own a business (asset) and I'm sure you can provide standard accounting statements. When a business needs to reduce costs, they cut overhead and since the loan is your worry, I would seek better terms, specifically in the length of the loan, to reduce cash flow.
The trick will be how to do what you want but separate the business from the home. There are always deals to be found house sitting or even living on one boat but running another boat as a business. You also can make money with your CG license.
I wonder if I were you if I might not be thinking about the USVI or Bahamas and perhaps editing my website to see if there is interest in bookings for the winter. What is not currently offered in those markets, and a business I am considering, is short term charter - one or two nights - for those staying in hotels who want a taste but do not want to spend a week on the boat. My prelim numbers suggest you can charge enough to cover apt rent on shore as an additional, and certainly at least partially deductable, expense.

Congrats - Larry
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Old 10-07-2006, 19:54   #21
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If you boat biz people are into boat biz, I wrote a very detailed biz plan for a terrific boat based biz, but it is a rather "large project".. nothing like a mom and pop biz. If there is interest PM me.

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