Want To Buy: Owner Financing for Live On

[NCRainmaker]

Hello,

New to this forum but have found it very informative. I am looking for individual that is interested in creative financing for a decent sized live on boat. I have a 30 ft sailboat but it’s simply not big enough for my lifestyle. Live at the beach in NC and have home but kids are gone and it’s timr to realize my dream of living on the water. I have reasonable cash downpayment of 30-40% of selling price at any level and looking for short term owner financing with seller holding title until final payment.

If anyone out there knows someone looking to move a boat and get cash in hand please let me know.

Thanks Ahead of Time!
NC Rainmaker

[Allied39]

Thats all a little ambiguous, numbers? Type of boat? Short term?

[NoShoes]

There is a feller in Kemah, https://houston.craigslist.org/boa/d...771795750.html that will finance ya ....

[tcasey56]

Hi, I have a Saga 409 Sloop that I would consider selling with owner financing. What is your budget and is this the sort of boat you would be looking for?

[Maka]

I know someone who knows someone.

[hellosailor]

I sympathize with the OP, holding a proper bacchanal fest on a 30' boat is damn near impossible. Can't even stow sufficient food and wine aboard for two guests, and then what do you do with the musicians and entertainers? Keep them out on deck?

If the new boat owner retains title...now they're a LANDLORD and they have a rental property. Local complications may apply. The marina may not allow tenants. The insurance has to go up to commercial, with good coverage, just in case one of the party guests sets the marina on fire. The complications are going to send more boat owners running.

And the OP can afford 30-40% payment now, but 30-40% of what? $50k? $200k?

Why not just sell the house, NOW. And stay on the 30'er until the new boat can be found? Or, since boat financing is easier when you own a home and land address...go conventional?

Or is there something like a divorce pending and the ownership and cash value of the house is potentially going to be locked up (along with those cash assets?) for many months to come?

Too complicated for most folks, they'd rather sell it the safer conventional way. I don't think we've ever had a forum member post that they bought their boat on a "rent to own" basis. Home renters, sometimes, sure, but boats? Not so much.

[Seasic]

Hey NC,

One of the things about forums is you get alot of varied opinions, dont be discouraged on owner financing, I recently did exactly that to purchase my first sail boat. Most banks (not all) will not finance boats over 15yrs old so option for people selling older boats is straight cash or owner financing. In my case I put 50% down with the balance paid over 6 months, (which I paid off in 5 ) I paid slip fees bottom cleaning ins ect.. the owner simply added me to his insurance as a user of the boat, of course I could not fully live aboard until paid off and slip transferred. But this is a valid option.

Also you should check with the marina you intend to live aboard in for "live aboard requirements"

For me this was a great decision, I fell in love with sailing and living aboard!

Happy holidays all!!

[tom jones]

rainmaker: interesting offer. we also have an interesting situation. a 43 ft Brewer cutter rig center cockpit. did a 4 yr complete restoration and upgrade in Annapolis before we headed back south. 10 yrs sailing in the Caribbean taught us patience..
lets talk it through in more depth. Tom s/v Blue Trust
tj5035@gmail.com

[Maka]

Interesting concept. Lets see where this goes.