[kscarrol]

Look forward to more pics, jealous! Looked like a great trip for the family...

M is doing great! Did not lease, bought the car outright. Still have more than a year of warranty left but shopping extended warranties now. Just got back from a two-day M school in South Carolina, great fun. Came away amazed at what these cars can do on the track...

[mdosu]

1moremod can help...he has extensive experience

[Colt]

Bust Out Another Thousand yeehaww

[Jeff@TopGearSolutions]

Originally Posted by M3LISSA

So true Ken! Im STILL trying to sell the Formula.. You think with all the boats people lost in Sandy they would want one, lol.

Yea but if they lost their boat they probably lost their house too! I noticed a lot less boats out on the water this year for sure.

You have a 46 Formula? What style? 46 footer is nice!

[Mr Tonka]

Originally Posted by beemerdude5150

Having some sails might help me save gas. But I mainly was just going to party on it. Most likely will never go on long expeditions. I was also going to rent it out to cut the costs. Small parties. Honeymoons. Dates. Fishing trips...

Get a house boat and charter the fishing trips.

[upstatedoc]

Originally Posted by beemerdude5150

are there any members on here that own any yachts? Im looking to buy one in the near future. Nothing crazy maybe like a 52' footer. 200-300k budget.

hmmm...

5150...

M3....

Who is this really?

[ddk632]

If you can add a little bit to..

No wait

If you can about triple or quadruple the budget, I'd get this:

Revolver 42
Twin Mercury Racing 700hp engines
Can sustain 75mph (not knots)
It's the love child of a cabin cruiser and a Cigarette boat


Revolver 42 by ddk632, on Flickr

They are making a baby Revolver 32 soon as well, and a mega Revolver 50-something as well

[MediaArtist]

I had a "small" 41' Sea Ray for a few years. Beautiful boats, easy to navigate in and out of Dana Point Harbor.

I ended up selling it because I couldn't justify the maintenance and upkeep fees when I was only out on the open sea 5-8 times a year. It made more sense for me to just rent a boat every blue moon when I got the urge.

Seriously consider the upkeep cost, the general rule of thumb for a boat in your size range (40 to 60 feet) is 2%-5% of the purchase price of the boat PER YEAR. On my Sea Ray, that was about right.

So for a $300,000 boat, expect around $6,000 to $15,000 per year in annual maintenance alone (minus mooring fees, daily use cost, etc). Obviously a lot cheaper if you do the work yourself, but that may not be an option yet for you if you're new to boating.

So where does the money go?

Big ticket items:
- Engine overhaul every 2000 to 3000 hours of running.
- bilge pump maintenance
- Anything that goes through the hull and into water. Make sure it is sealed properly and nothing is rusted, if it isn't, expect to pay big bucks to fix it.
- Replace batteries
- Gas! Unless you intend to dock your boat until 4th of July or memorial day. These things drink gas like a Ferrari, maybe faster.

Medium cost items:
- hoses (check for cracks, replacement)
- thru-hull fittings (check for leaks, closes easily)
- Yearly electrical system maintenance
- water impellers
- Oil change
- hull cleaning

Etc items: Upholstery, canvas replacement, engine parts, other electronics, chargers, belts, out drive parts, engine parts, cetol, lubes, anti-fouling paint, minor gelcoat repairs, replacing docklines, sail and diesel/saildrive maintenance, watermaker membranes, re-galvanizing the anchor chain, replacing anodes, light bulbs etc.

Also remember, these cost continue to go up as the boat ages

Example of cost for simple usage minus maintenance:

$550/year insurance including towing
$2000 to $3000/year moorage
$100/day average expenses while on the water including gas
So if you are out on the sea for 70 days, or 20% of the year = $7000 (for a bigger boat, this goes up a lot).

If you have to hire a captain and mate, add another $100+ per hour for daily operation.

You're over $10,000 a year and that's without all of the previously mentioned maintenance issues.

It also depends on how you want to maintain your boat. If you are a casual boater who just wants to hang around in the harbor drinking beers with buddies, you probably will pay a lot less. But then you have to ask yourself why you want to buy a $300,000 boat.

If you are going to do any serious boating, where you will be traveling to different ports along the coast, or hitting open ocean, then I'd say the cost could even be a smidge higher. So it all depends on how you use the boat, and how well you want it to perform for your own purposes.

[KwlAznKid]

can I get a ride on your boat when you get it? totally serious

[beemerdude5150]

Originally Posted by M3LISSA

are you serious here though? I own a boat.. 46 foot.. Im not going into detail cause I cant tell if your serious,lol.

Im serious. I have the means and the ends to own my own boat. Most of my friends are well off too. And I have good credit. Ive never burned any bridges. I am the type that goes way out of the way for everyone (except snakes). I treat people the way I want to be treated. I deserve it all imo.

But! I will consider all this great advice about upkeep costs. Do any of you owners rent out your boat for events and what not to help keep with upkeep costs? Thanks everyone.

[beemerdude5150]

Originally Posted by ddk632

If you can add a little bit to..

No wait

If you can about triple or quadruple the budget, I'd get this:

Revolver 42
Twin Mercury Racing 700hp engines
Can sustain 75mph (not knots)
It's the love child of a cabin cruiser and a Cigarette boat


Revolver 42 by ddk632, on Flickr

They are making a baby Revolver 32 soon as well, and a mega Revolver 50-something as well

I wont even think about spending over 2-300k on a boat. Unless I hit the lotto or somehow close some big contracts. That boat looks amazing. However theres nothing wrong with aiming for the stars and settling for a view.

[beemerdude5150]

Media artist:


that was very kind of you to lend me your experience and knowledge. And I appreciate every bit of it.

6-15k is very doable. I could manage that.

Im going to sit down and do some serious thinking. I do know that if I had one to rent out to my friends and their friends I definitely could. I'll post a pic of one I have my eyes set on. Its not that big but it looks very nice and has a sporty look. Might be big enough to hold a party of 20-25 comfortably. Which is plenty for me as I just want to take my nephews and nieces and loved ones out for some real fun in the sun. Thank you all again for the input.

[beemerdude5150]

Originally Posted by kscarrol

Old saying... "Two happiest days in a man's life, the day he buys the and the day he sells the boat."

Lol. If I find a super deal id buy it. For sure. And if I could make a profit selling it right away. Its sold. After a bunch of trips out that is. That quotes almost as good as the if it flies or floats quote haha

[beemerdude5150]

Melissa:

Please post a pic if you could we would love to see your boat.

[MediaArtist]

Originally Posted by beemerdude5150

Media artist:


that was very kind of you to lend me your experience and knowledge. And I appreciate every bit of it.

6-15k is very doable. I could manage that.

Im going to sit down and do some serious thinking. I do know that if I had one to rent out to my friends and their friends I definitely could. I'll post a pic of one I have my eyes set on. Its not that big but it looks very nice and has a sporty look. Might be big enough to hold a party of 20-25 comfortably. Which is plenty for me as I just want to take my nephews and nieces and loved ones out for some real fun in the sun. Thank you all again for the input.

No problem. If you think you will use it, then I think it's a worthy purchase.

[beemerdude5150]

Originally Posted by upstatedoc

hmmm...

5150...

M3....

Who is this really?

Im Young. Im blessed. And im one with the universe. And right now im hungry for some pancakes. I joke alot. But when I ask you guys questions im usually serious. I dont like to waste anyones time.

[beemerdude5150]

Smohr33:

I think I will do that. I rent ski boats all the time to take my nephews tubing every summer for last 4 summers. I think I just want to buy one to be able to say ive owned one. All of you keep telling me how much upkeep is. What about the profits from renting out my own boat? Does anyone rent their boat out? Ive looked around and people are charging a pretty penny to rent their boat out with a 2 man crew.

[ddk632]

Originally Posted by beemerdude5150

I wont even think about spending over 2-300k on a boat. Unless I hit the lotto or somehow close some big contracts. That boat looks amazing. However theres nothing wrong with aiming for the stars and settling for a view.

I agree. I saw it at a boat show and fell in love. This type of boat is a whole different league of ownership.

I am thinking something more realistic in my budget would be a paddle boat, maybe with a small troller motor

[Edward]

To me it makes no sense whatsoever to own a boat like this unless you can net more in your pocket after renting it out to others. And when you do that you continually lower resale value which already is ridiculously bad on boats.

If you want to burn money and have fun, just charter it. Make it fun, not work. Anyway, you can probably charter a nicer boat and be even more showy with buddies than with a 50'er.

And charter it in the mediterranean or carribean. Pacific? no thanks.

Otherwise, if you want a fun toy you will enjoy as few hours as the yacht, buy an exotic that doesn't depreciate all that much due to rarity. Like a Carrera GT or something. I'd probably rather have one of those and only put 3000 miles on it annually and have the option to sell it at a minor loss in the future.

[NemesisX]

Just out of curiosity, what kind of income and (liquid?) net worth is needed to comfortably afford a $300k boat? Is a boat in this range considered a reasonable investment or a commodity?

I know nothing of boats and I've always been curious. My gut feeling tells me that buying a boat is more similar to buying an exotic car, for example, than it is to buy a second home/condo (and rent it out) for investment purposes.

Do boats like this depreciate to the extent that cars do, or do they hold their value pretty well (or do they generally appreciate in value?)

How risky is it to purchase a boat like this as an investment (your main intention is to rent it out as often as possible), and what would one typically charge to rent it out ($X for renting the boat for Y days/hours)

[kscarrol]

It is worse then buying your M3 as an investment. It is NOT an investment, it is a rapidly depreciating asset with high ongoing operating expenses. Can't answer your question on income/net worth needs...

[black335i]

LOL