Cruisers Forum
 


Reply
 
Thread Tools Search this Thread Rate Thread Display Modes
Old 15-10-2021, 11:46   #1
Registered User

Join Date: Nov 2008
Posts: 56
Cash flow a boat Illinois River?

The Illinois river isn't the most desirable because of flooding, logs, etc.

I live within walking distance of a marina.

How could i make money owning a boat?

Airbnb it?
Rent it out?
Charter it out?
Buy cheap boat here & sell it somewhere else?

Marina slip charges are:

Slip Length
20 Feet – $925
28 Feet – $1425
30 Feet – $1500
36 Feet – $1700

All Slips have metered electrical pedestals with 30 amp service. Water is provided.

boating season is April 15th thru October 15th.

I don't have my captain's license. Maybe use the area to cheaply/safely get experience & my captain's license & relocate in 7 years?
tennis4789 is offline   Reply With Quote
Old 15-10-2021, 12:59   #2
Registered User
 
danstanford's Avatar

Join Date: Nov 2010
Location: Peterborough, Ontario
Boat: J/88
Posts: 426
Re: Cash flow a boat Illinois River?

Some marinas, possibly most, have rules about AirBnb situations generally ruling it out.
__________________
Never attribute to malice what can be explained away by stupidity.
danstanford is offline   Reply With Quote
Old 15-10-2021, 13:35   #3
Registered User

Join Date: Mar 2019
Posts: 1,266
Re: Cash flow a boat Illinois River?

Quote:
Originally Posted by tennis4789 View Post
The Illinois river isn't the most desirable because of flooding, logs, etc.

I live within walking distance of a marina.

How could i make money owning a boat?

Airbnb it?
Rent it out?
Charter it out?
Buy cheap boat here & sell it somewhere else?

Marina slip charges are:

Slip Length
20 Feet – $925
28 Feet – $1425
30 Feet – $1500
36 Feet – $1700

All Slips have metered electrical pedestals with 30 amp service. Water is provided.

boating season is April 15th thru October 15th.

I don't have my captain's license. Maybe use the area to cheaply/safely get experience & my captain's license & relocate in 7 years?
Silly rabbit, you don't make money owning a boat! You simply hope to minimize the speed at which you lose money. To paraphrase Branson, the best way to end up with $100,000 is to have $500,000 and buy a boat!
redneckrob is offline   Reply With Quote
Old 15-10-2021, 13:46   #4
Registered User
 
JC Reefer's Avatar

Join Date: Nov 2017
Posts: 476
Re: Cash flow a boat Illinois River?

Quote:
Originally Posted by redneckrob View Post
Silly rabbit, you don't make money owning a boat! You simply hope to minimize the speed at which you lose money. To paraphrase Branson, the best way to end up with $100,000 is to have $500,000 and buy a boat!


🥲 Very true.
JC Reefer is offline   Reply With Quote
Old 15-10-2021, 14:44   #5
Registered User

Join Date: Nov 2008
Posts: 56
Re: Cash flow a boat Illinois River?

Quote:
Originally Posted by redneckrob View Post
Silly rabbit, you don't make money owning a boat! You simply hope to minimize the speed at which you lose money. To paraphrase Branson, the best way to end up with $100,000 is to have $500,000 and buy a boat!
Lol

Beginning to see that!

Called marina
Live aboard - nope
Charter - nope
Them goodbye good luck. Click. Probably too busy giving great service to their current customers to spend 3 minutes conversing. Even though i did mention i live within walking distance.
tennis4789 is offline   Reply With Quote
Old 15-10-2021, 15:36   #6
Registered User
 
CaptTom's Avatar

Join Date: Apr 2004
Location: Southern Maine
Boat: Prairie 36 Coastal Cruiser
Posts: 2,290
Re: Cash flow a boat Illinois River?

Best way to make money? Hang out at the yard and help people out with boat maintenance. When you find something you're good at, hire out your services. Or get a job at the marina.

The way I heard that saying is:
How to make a small fortune with a boat: Start with a large fortune and buy a boat.
CaptTom is offline   Reply With Quote
Old 15-10-2021, 16:44   #7
Registered User

Join Date: Mar 2019
Posts: 1,266
Re: Cash flow a boat Illinois River?

Quote:
Originally Posted by CaptTom View Post
Best way to make money? Hang out at the yard and help people out with boat maintenance. When you find something you're good at, hire out your services. Or get a job at the marina.

The way I heard that saying is:
How to make a small fortune with a boat: Start with a large fortune and buy a boat.
That's great advice, make yourself part of the equation that boat owners pay into! Certainly here in Annapolis a good diesel mechanic will have more work than they can do for the foreseeable future. Heck, even a good boat detailer, which has a lot lower barrier to entry, would be well employed for much of the year.
redneckrob is offline   Reply With Quote
Old 16-10-2021, 09:58   #8
Registered User

Join Date: Nov 2013
Location: Homeport: Fair Haven, NY
Boat: 1993 Sabre 362 #113
Posts: 532
Re: Cash flow a boat Illinois River?

Quote:
Originally Posted by tennis4789 View Post
Lol

Beginning to see that!

Called marina
Live aboard - nope
Charter - nope
Them goodbye good luck. Click. Probably too busy giving great service to their current customers to spend 3 minutes conversing. Even though i did mention i live within walking distance.
Allowing Liveaboards and commercial operations (like charter boats) places additional burdens on the marina and its current tenants. With charter boats the most obvious is the influx of non-boaters into the marina who will consume services and have little investment in the marina, think parking, trash, restroom usage etc. It also increases the security risks with many unknown people in the marina.

Liveaboards also consume more services, including water, electricity, shower/toilet facilities and trash removal. Does the marina have municipal water and sewer? The fees will increase. If they have a septic and well water, the septic system and well may not be able to handle additional the additional load.

Finally, as you suggested they would rather keep their current customers happy than bring in a business (chartering) with its problems. Certainly if my marina started adding charter boats, I would be looking for a new marina.
Dave Lochner is offline   Reply With Quote
Old 16-10-2021, 10:47   #9
Registered User

Join Date: Nov 2008
Posts: 56
Re: Cash flow a boat Illinois River?

Not faulting them for their policy.

Faulting them for rudeness. I probably could have been converted into a paying customer or at least giving them positive word of mouth. Instead i do walk my dog through that marina. Tempted to not be a good dog owner.

How hard to say. Really busy right now. We don't do live aboard or charters. Feel free to Stop by & we'll see if we can sell you something.

Mostly sarcasm about them providing great service to current custimers. After call, Talked with couple other people & their take was same. I'm guessing if you need anything you'll get same rudeness. That marina is not particularly busy.
tennis4789 is offline   Reply With Quote
Old 16-10-2021, 11:20   #10
Registered User
 
Cadence's Avatar

Join Date: Dec 2008
Location: SC
Boat: None,build the one shown of glass, had many from 6' to 48'.
Posts: 9,974
Re: Cash flow a boat Illinois River?

Quote:
Originally Posted by redneckrob View Post
Silly rabbit, you don't make money owning a boat! You simply hope to minimize the speed at which you lose money. To paraphrase Branson, the best way to end up with $100,000 is to have $500,000 and buy a boat!
Add to that MiikeO's jest about a flex loan, yesterday, if you don't have the $500K. 500K to upside down.
Cadence is offline   Reply With Quote
Old 16-10-2021, 11:37   #11
Registered User

Join Date: Dec 2014
Location: New Franklin, Ohio
Boat: Homebuilt schooner 64 ft. Sold.
Posts: 1,408
Re: Cash flow a boat Illinois River?

Quote:
Originally Posted by tennis4789 View Post
Lol

Beginning to see that!

Called marina
Live aboard - nope
Charter - nope
Them goodbye good luck. Click. Probably too busy giving great service to their current customers to spend 3 minutes conversing. Even though i did mention i live within walking distance.
Unless a marina advertises as a liveaboard marina, never ask if they are a liveaboard even though there could be liveaboards there. They need to get to know you so be a weekly or monthly renter for awhile. If they like you they may say yes.
captlloyd is offline   Reply With Quote
Old 16-10-2021, 17:05   #12
Registered User

Join Date: Feb 2016
Posts: 50
Re: Cash flow a boat Illinois River?

Short term vacation rentals, since you live closeby, only IF your marina lease allows it.
Ms J-37 is offline   Reply With Quote
Old 16-10-2021, 17:57   #13
Registered User
 
jeanathon's Avatar

Join Date: Mar 2012
Location: WNC mountains U.S.
Boat: Boatless
Posts: 784
Re: Cash flow a boat Illinois River?

Get a big boat then rent it out for exclusive bachelor parties. Will need some Demi Moore types and a cleaning staff that doesn't mind puke.
__________________
Would you read your life's story?
jeanathon is offline   Reply With Quote
Old 20-10-2021, 15:00   #14
Registered User

Join Date: Nov 2008
Posts: 56
Re: Cash flow a boat Illinois River?

I've been reading on here.

Some of the equipment seems crazy expensive.

$2,000 for this or that.

I see a 22 foot sail boats for $3, 800.
https://www.facebook.com/marketplace...ok_story_share

Then pay $1,000 at marina for a season. Then state of Illinois will want money for licensing the boat & trailer.

Seems like crewing on someone's elses boat might be best way? How to get experience though? No sailboat experience except a small sunfish a few times years ago.
tennis4789 is offline   Reply With Quote
Old 20-10-2021, 15:35   #15
Registered User

Join Date: Nov 2013
Location: Homeport: Fair Haven, NY
Boat: 1993 Sabre 362 #113
Posts: 532
Re: Cash flow a boat Illinois River?

Quote:
Originally Posted by tennis4789 View Post
I've been reading on here.

Some of the equipment seems crazy expensive.

$2,000 for this or that.

I see a 22 foot sail boats for $3, 800.
https://www.facebook.com/marketplace...ok_story_share

Then pay $1,000 at marina for a season. Then state of Illinois will want money for licensing the boat & trailer.

Seems like crewing on someone's elses boat might be best way? How to get experience though? No sailboat experience except a small sunfish a few times years ago.
No one ever said marine grade equipment is inexpensive. There are ways to reduce costs, some of them are worth pursuing and some are only worth pursuing if you don't value your life.

Sailing other on other people's boats is a good way to gain experience and knowledge. Look for a yacht or sailing club that has a learn to sail program or a racing program volunteer, bring beer, and get on a boat.

The commonly obtained Captain's License is referred to as a Six Pack license because you will be allowed to take 6 paying passengers out on an excursion on an uninspected boat. Also be aware that there are different versions of the licensee and one earned with experience on inland waterways may not be valid on the open seas.
Dave Lochner is offline   Reply With Quote
Reply

Tags
boat

Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes Rate This Thread
Rate This Thread:

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Hello from Illinois/ midwest JoanK Meets & Greets 2 05-11-2012 14:53
Hello, from aground in Illinois. rebelreck Meets & Greets 8 21-02-2012 19:07
Hello from Illinois littlegoodjohn Meets & Greets 15 20-09-2011 00:45
Any Way from Chicago to Illinois River? defever Great Lakes 2 06-10-2009 13:44
New member from Illinois OwenMcCall Meets & Greets 3 26-02-2007 00:41

Advertise Here


All times are GMT -7. The time now is 03:14.


Google+
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2021, vBulletin Solutions, Inc.
Social Knowledge Networks
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2021, vBulletin Solutions, Inc.

ShowCase vBulletin Plugins by Drive Thru Online, Inc.