I've only owned one
boat previously, a Bayfield 29. It was in sad condition, but the
hull, the
deck and the
mast were good. I bought it
CHEAP. I then rebuilt the
Yanmar 2gm myself and took it to Pitman
marine in Tarpon Springs for a bottom job. While there, I figured I might as well get the sides painted too. They told me all I needed was to have them buff them. When they were done, it looked like new.(thanks for saving me
money, Pitman) I sanded and oiled all the
wood. (I don't like varnish) cleaned and overhauled the
toilet. (gaskets, etc.) Ran new
wiring to everything. I learned a LOT about my
boat, found some good people to
work with,(marina,
mechanic,
parts suppliers, etc.) and spent less than $7k. To buy one in that condition...$12k - $18k. If you shop around. Did I get paid a fair wage for my labor? No. But I'm not scared of
work. I am scared of spending
money I don't have. I think that's why
boats are laid up for over 2 years. Not enough cash flow. I'd rather work on the boat than work a job so someone else can work on the boat.
By the way, I'm looking for my next diamond in the rough. A
bluewater liveaboard. Doesn't need to be free, but
cheap would be nice!