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Since: Nov 07, 2005
Posts: 324
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(Msg. 1) Posted: Tue Nov 15, 2005 6:26 pm
Post subject: Is it possible to rebuild boats and come out ahead?
Archived from groups: rec>boats>building (more info?)
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I suppose what I'm asking is my cousin, (an electrical engineer for a
major auto company), is getting tired of the "lunch bucket" job, and is
really addicted to boats. Sounds good so far, andyhow, he's wanting not
necessarily to quit his job but look into a paying hobby. He looks on
ebay and the like, and sees damages, or neglected cruisers going for
what sems to be a song. and is thinking of setting up a business for
not necessarily restoring but totally rebuilding boats. This is done
with about anything on the market today, from computers to major
aircraft. He saw a charity auction sell a 36 foot Chris Craft
(fiberglass) Cruiser for about $400.00 which was rather neglected, but
seemed to have a sound hull. He's thought of totally disasembling the
boat, putting in new, modern refinements re wiring, re-gelling,
re-painting, re brightening or replacing the hardware, overhaulling the
twin GM's etc, and he thinks he can do this..resell... put into show
room condition....... and make a profit.
I told him I thought it was pretty risky, because auto customizers
usually can't sell a car for more than they have in it. Well, I
suppose some can but I'm sure many can't.
Does anybody do this as a professional company?
Tim |
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Since: Nov 16, 2005
Posts: 1
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(Msg. 2) Posted: Wed Nov 16, 2005 1:49 am
Post subject: Re: Is it possible to rebuild boats and come out ahead? [Login to view extended thread Info.]
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On 15 Nov 2005 18:26:51 -0800, tschnautz.RemoveThis@gmail.com wrote:
> I suppose what I'm asking is my cousin, (an electrical engineer for a
> major auto company), is getting tired of the "lunch bucket" job, and is
> really addicted to boats. Sounds good so far, andyhow, he's wanting not
> necessarily to quit his job but look into a paying hobby. He looks on
> ebay and the like, and sees damages, or neglected cruisers going for
> what sems to be a song. and is thinking of setting up a business for
> not necessarily restoring but totally rebuilding boats. This is done
> with about anything on the market today, from computers to major
> aircraft. He saw a charity auction sell a 36 foot Chris Craft
> (fiberglass) Cruiser for about $400.00 which was rather neglected, but
> seemed to have a sound hull. He's thought of totally disasembling the
> boat, putting in new, modern refinements re wiring, re-gelling,
> re-painting, re brightening or replacing the hardware, overhaulling the
> twin GM's etc, and he thinks he can do this..resell... put into show
> room condition....... and make a profit.
>
> I told him I thought it was pretty risky, because auto customizers
> usually can't sell a car for more than they have in it. Well, I
> suppose some can but I'm sure many can't.
>
> Does anybody do this as a professional company?
>
>
> Tim
Bath Iron Works does this with guided missile frigates for the Navy...  |
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Since: Nov 07, 2005
Posts: 324
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(Msg. 3) Posted: Wed Nov 16, 2005 5:12 am
Post subject: Re: Is it possible to rebuild boats and come out ahead? [Login to view extended thread Info.]
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>Bath Iron Works does this with guided missile frigates for the Navy...
True, but they are commissioned with a heavey tax check....LOL!
I'm just talking about buying a boat dirt cheap, rebuilding/remodeling,
then reselling it.
Looks to me like ye olde phrase be true. I suppose some could take the
risk, but.....
"A boat is nothing more than a hole in the water surrounded bywool,
metal or fiberglass, that the owner does nothing more than consistantly
poor money into" >> Stay informed about: Is it possible to rebuild boats and come out ahead? |
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Since: Nov 07, 2005
Posts: 324
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(Msg. 4) Posted: Wed Nov 16, 2005 5:12 am
Post subject: Re: Is it possible to rebuild boats and come out ahead? [Login to view extended thread Info.]
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>Bath Iron Works does this with guided missile frigates for the Navy...
True, but they are commissioned with a heavey tax check....LOL!
I'm just talking about buying a boat dirt cheap, rebuilding/remodeling,
then reselling it.
Looks to me like ye olde phrase be true. I suppose some could take the
risk, but.....
"A boat is nothing more than a hole in the water surrounded bywool,
metal or fiberglass, that the owner does nothing more than consistantly
pour money into" >> Stay informed about: Is it possible to rebuild boats and come out ahead? |
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Since: Nov 07, 2005
Posts: 324
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(Msg. 5) Posted: Wed Nov 16, 2005 7:30 am
Post subject: Re: Is it possible to rebuild boats and come out ahead? [Login to view extended thread Info.]
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Rodger, I was thinking the same thing, but I think he's planning on
taking it down to the bare hull and starting over!
But I deffinately agree with what you are saying. Plus a building rent
for where he is located would cost an arm and a leg. he lives in a
residential area and doesn't have enough enclosed space for the boats
he's been looking at.
I really don't see how he can come out ahead, but.....
BTW, sorry about the "double post, I tried to correct some spelling
after I hit the send key and thried to catch it on the run...LOL! >> Stay informed about: Is it possible to rebuild boats and come out ahead? |
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Since: Nov 07, 2005
Posts: 324
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(Msg. 6) Posted: Wed Nov 16, 2005 7:33 am
Post subject: Re: Is it possible to rebuild boats and come out ahead? [Login to view extended thread Info.]
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Since: Nov 07, 2005
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(Msg. 7) Posted: Wed Nov 16, 2005 10:10 am
Post subject: Re: Is it possible to rebuild boats and come out ahead? [Login to view extended thread Info.]
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Since: Nov 07, 2005
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(Msg. 8) Posted: Wed Nov 16, 2005 10:14 am
Post subject: Re: Is it possible to rebuild boats and come out ahead? [Login to view extended thread Info.]
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> And still came out ahead. I paid $25k for the
>boat...put about $18k into her ($3500 went into a new bottom and having
>everything above the waterline wetsanded and teflon coated)...sold her
>for $48k.
a 5K profit isn't bad especially when you hired all the work.
I hope you got to enjoy it a bit before the new owners took it over. >> Stay informed about: Is it possible to rebuild boats and come out ahead? |
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Since: Nov 07, 2005
Posts: 324
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(Msg. 9) Posted: Wed Nov 16, 2005 12:55 pm
Post subject: Re: Is it possible to rebuild boats and come out ahead? [Login to view extended thread Info.]
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>If you want to do this, I suggest you start by finding one you'd like to
>own. Then you can take all the time you need to learn how to do it
>right, have the use of the boat once you get it past a certain
>point...and then decide whether to keep it or sell it and look for
>another one to restore.
Thanks Peggy. I'm going to pass this thread to my cousin. It sounds
like it would be a fun venture, but I myself don't have the finances,
nor the location to pursue this notion.
I'm in S. IL. which the only good piece of water for a big cruiser is
Carlyle Lake and thats pretty small for these types of boats. I've got
an 18 ft Chris Craft runabout, and that pretty well does it for me. I
used to have a 27 ft, Chris Craft Cavalier but the old wood hull was
too much for me to keep up with. I found out that the bigger the boat,
takes the bigger the pocket! LOL!
Jerry is down on the Mississippi though, and he's been asking some
questions, and I thought I'd post here to get a mild summary.
You made some excellent points!
Tim >> Stay informed about: Is it possible to rebuild boats and come out ahead? |
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Since: Nov 07, 2005
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(Msg. 10) Posted: Sat Nov 19, 2005 8:50 am
Post subject: Re: Is it possible to rebuild boats and come out ahead? [Login to view extended thread Info.]
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Since: Nov 19, 2005
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(Msg. 11) Posted: Sat Nov 19, 2005 10:51 am
Post subject: Re: Is it possible to rebuild boats and come out ahead? [Login to view extended thread Info.]
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Since: Nov 07, 2005
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(Msg. 12) Posted: Sat Nov 19, 2005 11:26 am
Post subject: Re: Is it possible to rebuild boats and come out ahead? [Login to view extended thread Info.]
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Thanks Don, that was excellent! good thoughts to remember. I can tell
just from your writing that you have experience and have at one time or
another graduated from the "school of hard knocks"
Jerry isn't looking to do work for customers, however. He's wanting to
buy good hull boats re-working and re-selling. So he can avoid a lot
of "customer problems" that you have mentioned. I know what it's like
in the auto-electric business to give somebody a quote...sink a lot of
money in parts& labor, just to hae them abandon it and leave it for me
to take up shelf space, THEN come back a year later wanting me hand it
over etc.
"OR" wanting me to "fix it as cheap as possible" then come back a few
months later complaining that it didn't work anymore , and hearing "you
just REBUILT that a a few months ago!"
Never again!
It didn't take long to >> Stay informed about: Is it possible to rebuild boats and come out ahead? |
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Since: Nov 07, 2005
Posts: 324
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(Msg. 13) Posted: Sat Nov 19, 2005 1:40 pm
Post subject: Re: Is it possible to rebuild boats and come out ahead? [Login to view extended thread Info.]
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Note: The author of this message requested that it not be archived.
This message will be removed from Groups in 6 days (Nov 26, 4:51 am).
If you buy a fixer boat you are cutting out the money lender. Instead
of making payments to a bank you are making the payment to a materials
supplier at your own pace and as your dragon hoard allows. This
assumes you have a dry place to work and neighbors who don't mind the
smoke and roar and racket and that you don't mind being exposed to
carcinogens and being filthy and broke and bone weary for years at a
time. Not that I regret a minute of it except the fiberglass layup
part.
I believe some people could conceivably make money doing what you
propose but then those type of people would probably make money doing
anything and lot's more of it doing something else besides boat
fixing. Good luck and happy sailing or whatever.
LOL! I like that part about the "dragon hoard"
Thanks! >> Stay informed about: Is it possible to rebuild boats and come out ahead? |
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Since: Jul 01, 2005
Posts: 12
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(Msg. 14) Posted: Sat Nov 19, 2005 11:21 pm
Post subject: Re: Is it possible to rebuild boats and come out ahead? [Login to view extended thread Info.]
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On Sat, 19 Nov 2005 11:44:18 GMT, "Don Dando"
<speedliner.RemoveThis@sbcglobal.net> wrote:
>speedliner@sbcglobal.net
Mr. Dando,
I've done runabout restoration for about 25 years. I enjoyed your
reply regarding making money doing restoration on rec.boats.building.
I would like your permission to post it on the Wooden Boat mag forum.
there is a similar thread running there.
Thanks.
pcf >> Stay informed about: Is it possible to rebuild boats and come out ahead? |
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Since: Jul 01, 2005
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(Msg. 15) Posted: Sat Nov 19, 2005 11:23 pm
Post subject: Re: Is it possible to rebuild boats and come out ahead? [Login to view extended thread Info.]
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