Friday, April 14, 2006


Boat Flipping 101: Boat Flipping for Fun and Profit

Boat Flipping 101: Boat Flipping for Fun and Profit

Spring is upon us once again. Wouldn’t it be nice to have a beautiful boat to use anytime you want? Wouldn’t it be even nicer to not pay for it?

This is possible with a little homework.

Boats or Yachts are an absolutely horrible investment. In fact they’re not an investment at all. People buy them expecting to loose money. They buy them for a different reason – to have fun.

Now that doesn’t mean that you or I need to loose money on a boat too. Boat Flipping – buying low and selling high will let you and your family drive the boat of your dreams for FREE.

Here are some Boat Flipping tips:

* Don’t EVER buy a new boat. You’ll get killed in depreciation. I’m not talking only a few thousand dollars here. You can get stung big time. A recent owner of a 34 foot Sea Ray told me he lost $25,000 per year on his new boat.

* Buy an inexpensive boat. Anywhere under $10,000 is fine. You’ll be able to sell it
Put the “Fore Sale” sign on it the day you pick it up. Selling a boat can take all summer. If you sell it early, just buy another one.

* Study the market – A “Used boat listings” website can help you find what boats sell for
Call on a lot of boats. Find the guy who must get rid of his.

* Offer 75% of the list price. Remember, you’re looking for the distressed seller.
You make the money on the buy, not the sale

* When you sell don’t be the most expensive. Be toward the middle to bottom in price.

* Hedge your bets: Get a Boat inspection for $300. It could save you a lot of frustration.

* Don’t expect to get rich. If you can sell the boat to cover your costs and brake even you’re ahead. Remember you got the full use of the boat for the summer. You won’t need to store it all winter.

Start with small boats and work your way up. One day, you could be driving a yacht all summer long for free.

Happy Boating!

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