CAL 34 resto project price opinions..

[Sailmonte]

Hey Im looking at a 1968 Cal 34 in rough condition as a project. The boat is for sail locally on craigslist and he is asking $5800 which seems to be alot to me. He states thats what it is worth in scrap but it still seems high to me. It has been on the hard for the last 12 years. Has an Atomic 4, the entire 12volt system has been gutted as well as the fresh water system minus the holding tank. No electronics. Interior and exterior need paint. Basicly its just a sound hull that needs complete resto..comes with full set of sails that I believe to be in ok condition..Any way my question for all you salty dogs out there is what you think about this boat in general, the price being asked, and if Im crazy for wanting a boat that needs this much work and money dumped into it...

A little about me I am 27, an auto tech so the 12volt wiring and engine and trans work is all easy for me. Im very handy so Im really not afraid to take on the other aspects of the resto..Ive been restoring cars for years and love the idea of saving an old boat from the scrap yard..I plan on moving aboard and cruising fulltime when I get it completed. Or do I just buy one ready to go?.. Im only looking at spending 20k total before I get cruising and then upgrade as I go..but If I can pick this boat up for a deal say 2/2500 I think its doable.. Thanks for any input.. Fair Winds...