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CaptBobR · 25-05-2020, 09:57

Florida Youth Maritime Training uses badly damaged fixer uppers to teach ABYC systems and electrical as well as motors. We generally find that after surveying the vessel, repair/replace structural parts, deck and hull parts, systems, electrical, rigging and motors, we spend about 4 months with teams fixing the boats. We then sell the refurbished boat for about 20% of the Fair Market Value of the same boat in good condition.
I’m not saying we know everything but we are ABYC certified and get our parts sometimes donated but always at a discount.
We recently did a Pearson Lark. We got it for $41.00, put $1845.00 into it besides our labor and sold it for $4900.00
I’d think carefully before engaging in one of these boats to go cruising

MicHughV · 25-05-2020, 10:25

" besides our labor"...exactly my point, not only your time, but also the time by the Training Youth...plus factor in driving to find the boat, and the myriad of other little things you had to do to source parts and bits and pieces for it.

I don't deny its an excellent learning tool for today's youth....and even for someone planning on taking a longer trip, as you will come to know every inch of the boat, which is a good thing...but as a financial investment, nah, I think a person wanting to venture into the fixer upper market, needs to think carefully about doing so.

Captn_Black · 25-05-2020, 12:18

Quote:

Originally Posted by MicHughV

" besides our labor"...exactly my point, not only your time, but also the time by the Training Youth...plus factor in driving to find the boat, and the myriad of other little things you had to do to source parts and bits and pieces for it.

I don't deny its an excellent learning tool for today's youth....and even for someone planning on taking a longer trip, as you will come to know every inch of the boat, which is a good thing...but as a financial investment, nah, I think a person wanting to venture into the fixer upper market, needs to think carefully about doing so.

An investment? No. But you can at least get your money back plus the value of the improvements you made (not including your own time, but as you said, the experience is good), which allows people to sell and upgrade. If anyone is trying to actually make money doing it though, they are barking up the wrong tree.

HansChristian33 · 25-05-2020, 15:12

If your a shipwright you can do it and save money very few others can as if your paying a professional to do the work you are going to be far better of buying something in good condition to start with. It can also be very dangerous doing repairs to a damaged boat if you don’t really know what your doing.

Captn_Black · 25-05-2020, 15:42

Quote:

Originally Posted by HansChristian33

If your a shipwright you can do it and save money very few others can as if your paying a professional to do the work you are going to be far better of buying something in good condition to start with. It can also be very dangerous doing repairs to a damaged boat if you don’t really know what your doing.

Generally I'd agree, as now that I think on it, my skill set probably qualifies me as a shipwright now. But that is only through extensive study, practice and experience. There is no reason others can't gain those skills too. I guess the most dangerous thing is going into it thinking that you know everything and being unwilling to learn.

MicHughV · 25-05-2020, 16:23

Like others here...I built my first boat...I can tell you straight up that there was a steep learning curve involved.....very steep.
Until that time, I barely knew which end of a hammer to hold.
Mistakes I made were many, but I persisted.
Fortunately for most home builders, one must enter...and pass...the School of Hard Knocks... in order to complete one's build, a process which usually takes several year.

Having successfully built it, I had yet to learn how to properly sail it, navigate it, handle it, etc.
This required yet another School of Hard Knocks served up by storms at sea and other calamities, another curriculum requiring many years.

Now, armed with that all experience, I'm constantly dumbfounded by people that buy big boats with little or no experience in anything, yet plunking down serious wads of cash for a craft which is basically way beyond their knowledge to inspect, use or maintain.

Some make the effort to learn, some learn the hard way....but sad to say...many don't and another dream dies on the vine.

To buy a storm damaged boat requires a very experienced and discerning eye.

My advice to anyone considering this move is to take along an experienced surveyor or other knowledgeable sailor to view the merchandise before considering to even tender an offer.
An experienced eye can very quickly discern what is real and what could prove to be big headache or a costly repair.

It will be money well spent !!