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New to Yachting; 13 Million to spend -

 
 
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Old 03-12-2011, 06:16 PM   #31 (permalink)
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Quote:
Originally Posted by rodsteel
1) Find a good financial adviser (i.e., one that can deliver a consistent, safe 5% yearly ROI - after commission and taxes).
2) Place $12M into his care.
Best "yachting" advice I've heard so far! Toys with motors are NOT a good way to keep an inheritance intact. If you want to have the money for a lifetime, make sure that you are leaving an inheritance, not spending an inheratance.

Last edited by Mark Woglom; 03-12-2011 at 07:12 PM..
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Old 03-12-2011, 06:43 PM   #32 (permalink)
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As far as I understand he wants to spend 13M of his inherited money on that yachting experience, mentioning that he quite enough left for not beeing concerned about his financial future.
Beeing able to spend that amount of money is hard to imagine for someone like me as well. If IŽll ever have 13 millions it will be when you can buy stamps with that size of numbers on it.
Nevertheless, if he wants to do so thatŽs fine. IŽll try my best not to envy him.
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Old 03-14-2011, 01:17 PM   #33 (permalink)
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Id like to suggest something a bit different.
Its my dream but you are certainly welcome to it.
Ive often thought if I were to win the lotto and have a few millions Id like to sail the world.
Just as quickly it occurred to me that there might be a certain boredom to that and what a waste of so much money.
Ive always found myself happiest when doing good.
Then it hit me there are lots of "Do Gooders" that need transportation.
Missionaries on their way a field, food and supplies that need to go to needy places. Exchange students etc.
Why not outfit a cargo ship for this mission? Luxury appointments for you and your family of course!
Think of some of the benefits.
As a Nonprofit organisation there would be tax benefits.
You will go to interesting places you would have never thought to go otherwise.
Since your "Working" when there you will be treated in a more homey friendly manor by the natives.
You will meet lots of VERY interesting people.
You might create a legacy for your self.
When approached by all those old friends and family that want a loan or grant from you you can say "Sorry but Id be stealing form starving kids if I gave it to you BUT since you really need money there's a job in the ships laundry.....
You could insure your kids future without ruining their dreams by hiring them to work on the boat and thus get health care and other benefits but yet not make the jobs so good the would suck your kids away from their own dreams.
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Old 03-14-2011, 05:41 PM   #34 (permalink)
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Quote:
Originally Posted by rodsteel
1) Find a good financial adviser (i.e., one that can deliver a consistent, safe 5% yearly ROI - after commission and taxes).
2) Place $12M into his care.
Quote:
Originally Posted by Mark Woglom
Best "yachting" advice I've heard so far!...
This is how Bernie M's dreams became reality!

Enough sarcasm, for now...


While on the subject of pre-purchase intellectual enhancement, anyone have a thought or two regarding the script on the stern, as in home port - domestic (USA) or foreign (C.I. or M.I.)?

Just curious, given the theme of this thread (reduce ownership anxiety) and this helpful post:

Quote:
Originally Posted by rodsteel
65' = $60K base and $20K fuel, food and tips ($80K)

85' = $90K base and $30K fuel, food and tips ($120K)

100' = $150K base and $75K fuel, food and tips ($225K)

120' = $200K base and $125K fuel, food and tips ($325K)

165' = $250K base and 200K fuel, food and tips ($450K)
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Old 03-14-2011, 06:34 PM   #35 (permalink)
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http://www.harschrealestate.com/real...iew/49//192468
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Old 03-14-2011, 06:49 PM   #36 (permalink)
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Have we lost track of this being YACHTForums. What's with the real estate link?
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Old 03-14-2011, 06:51 PM   #37 (permalink)
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just some thoughts i have about your position , i think i would finde a boat i liked and interview the capt and crew to see what the compatiblty would be and make sure i could put up with them for several months at a time and charter the boat and crew to get a good idea of just what i was getting into and the areas of the world i like best , after a few months you should have a sence of what direction to go

good luck travler
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Old 03-14-2011, 08:54 PM   #38 (permalink)
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Have we lost track of this being YACHTForums. What's with the real estate link?

the guy asked for advice....after 50 yrs of working in the yacht/fish business, and seeing the turn over rate as far as owners go the last few decades , i advised to by a farm......you can't do that on a ''YACHT'' forum.????
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Old 03-14-2011, 09:31 PM   #39 (permalink)
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Maybe I'm connecting to a wrong link, but I'm reaching an ad for a house that's for sale down the block from the Clinton's estate.
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Old 03-14-2011, 11:03 PM   #40 (permalink)
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Quote:
Originally Posted by Seeker
... What I do know is I have 13 Million that I am willing to invest, ...

Mick
You have 13 Million what?

I'm not sure you should use the word "invest" when speaking about boats.
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Old 03-14-2011, 11:31 PM   #41 (permalink)
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Smaller Vessels & Shallow Draft

...lets get this discussion back to the subject of alternative vessels rather other alternative investments...the man wants to go boating I believe

I thought I would present the case for smaller vessels, and shallow draft vessels.

Let me precede this opinion of mine by stating that in the past I have lived aboard a 60 foot Chris Craft power yacht and a 47 foot sailing craft for 2 & 3 years respectively. I've moved up and down the east coast, cruised the Bahamas for 8 months, sailed down to St Thomas and St Barts on several occasions, and island hopped from Florida down to Venezuela. I also spent 13 years in the boat business on the Chesapeake Bay based out of Annapolis MD.

Most recently I have been exploring the possibilities of moving back aboard a vessel of some sort (maybe even a floating house) with my new wife from Thailand, for that portion of the year we will be spending in the USA. I'm having to brainstorm, what minimum size and type of vessel might meet our liveaboard needs, yet be affordable?? I'm looking at a variety of ideas, and a variety of used boats. I have always been a BIG fan of MotorSailers, and catamaran ones in particular, and if I could afford it I would be very tempted to build one of my own designs. But in reality most of my designs are just a little too big for an owner/operater couple,.... at least bigger than necessary, thus requiring elevated operating expenses, maintenance expenses, and dockage expenses. On the other hand the catamaran hull form does offer several great attributes....shallow draft, greater accommodations within a spacial distribution for privacy in a shorter length vessel,....and level stability that women love (very important).

So what might I recommend for your needs, Mick??

1) First off I would lead you to vessel of less than 60 feet. I think you should consider a vessel size that you can fairly quickly become acquainted with handling yourself. This will inspire your self-confidence to go exploring on your own (you and your wife), without feeling the absolute need for a third party captain. You can take your friends out for an afternoon or weekend cruise without feeling the need for an operator. (I once worked for an owner who specifically ask that I take vacation off the vessel when he came to spend time on the vessel with his wife).

2) As you are brand new to boating I would NOT suggest any sail power, although you may come to appreciate it in the future once you experience it on someone else's vessel. (have a peek at these two videos I just posted recently)

3) I would NOT suggest a new-build (custom project) until you've had a chance to experience some portion of your dream afloat and can make a more informed decision as to your likes/dislikes.

4) I would suggest a nice stable vessel, with a nice house size galley, and a comfortable bathroom (head as it is known). These features are very important for the liveaboard aspect, and they are VERY important for the lady (I'm assuming you really do want to make this dream last for at least 5 years...smile)

5) I would suggest a vessel with shallow draft and well protected props and shaft systems. The protected props and shafts will save you a lot of heartache and money when you make those few mistakes that many new boaters (and a few older ones as well) make on occasions.

I can't emphasis SHALLOW DRAFT enough. Here I am defining shallow draft as 4 feet or less. The Chesapeake Bay (America's largest inland water bay) has a few navigable deep water channels, but the vast majority of its area is 4.5 feet of water or less on average. If you truly want to explore the Chesapeake Bay and its many tributaries (one of the truly great cruising areas), you better have a shallow draft vessel. Ditto for the Outer Banks of NC (I once did them in a 37 foot sailing cat that I could kick up its CB's and rudders to draft only 24 inches). Its nice to have a shallow draft for the Florida keys, and the 10,000 island area of SW Florida, and those inside waterway passages of the west coast of Florida. Gunkholing is so much fun, and you miss some of this fun when your vessel draws too much water....you end up passing many delightful spots for fear of running aground.

If you are intending to do the east coast, then around Florida, you might well consider doing the popular 'Great Loop', up the Mississippi, to the Great Lakes, down the Erie Canal, etc.

And don't forget the Bahamas that whole chain of islands is structured on a shallow ocean shelf that is a delight to go cruising across rather than around, especially with those crystal clear waters. Shallow draft is king!

I started out to write this posting and make a suggestion of a few possible smaller vessels that I had recently become aware of...several of them being production mono-hulls. But as I read my own words, I can't help but think of this wonderful vessel I just spent a few days aboard in Palm Beach. It was recently grabbed up (purchased) by a good friend of mine for his own liveaboard & treasure hunting purposes, so it is not available. I'll present a few details and photos as an example of what I consider a really nice liveaboard cruising vessel that is not too audacious while accomplishing most of what you have in mind plus a few extras...great dive and explore boat.

This is a 60' powercat that was custom built by an associate in wood/epoxy/composite. I'll post some pics I took while visiting. Look at the interior room available in this vessel,....and that great galley and big saloon. One master stateroom in one hull, and two guest staterooms in the other. Then how about the great aft deck and its additional galley, outdoor grill, and dining area. This vessel drafts 3... feet, and is powered by two 6 cyl Cummins engines of 210HP . It will do 17 knots while using a fraction of the fuel of many yachts this size. It is highly maneuverable with those twin props widely spaced apart. Its easy to get on and off the tender from those swim platforms, and in fact could easily carry two tenders (his and hers), or other water toys. It has a generator and a watermaker, and a highly insulated refrig box and freezer that only requires running one engine once every two days. Its self-sufficient. The cost...less than $1M. I envy his choice.

See what can happen in only 60 feet!! And you and your wife could fully handle this vessel by yourselves.

I'll continue with the other vessel suggestions in another posting to follow.....and there are a few surprises as well.....

Regards, Brian
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Old 03-14-2011, 11:37 PM   #42 (permalink)
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...some more photos
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Old 03-15-2011, 02:21 PM   #43 (permalink)
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Id be looking at newer and more modern style. The main reason, although "we" are in a recession thats much like the great depression. In the next five years things should be better. You'll want something that banks and finance companies will loan on. Older boats and cars are tough to get loans for, so newer the better. During recession luxury goods manufacturing usually cuts their production, this happens for all goods. When things are returning often luxury manufacturing can't meet the new demand for goods. Things with low production and sudden demand, like Ferrari's, Porsche's, Rolls Royce, Bentley and even yachts, usually see a small rise in price. All these items well its hard to tell that a 3 to 4 year old one is not brand new. Their models stay the same for years and even wealthy people who can't wait often times will buy a used one.

So if me, Id be looking at bang for buck in newer builds and the best less expensive is Hargrave. A few good clean boats in their 68 to 78 footers, decent sized, salon, galley, master staterooms, with o.k sized heads in this size range and decent outdoor space. Most are reasonable priced and offer the ability to move up with very little expense. Hargrave also has at a glance a decent charter management set up. Economy returns and you might actually at the very least get what you paid back in your pocket.
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Old 03-15-2011, 05:45 PM   #44 (permalink)
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Maybe I'm connecting to a wrong link, but I'm reaching an ad for a house that's for sale down the block from the Clinton's estate.

Hi,

170 Acres and only 8 parking spaces, where will I put my toys when I move there?
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Old 03-15-2011, 05:49 PM   #45 (permalink)
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Hi,

170 Acres and only 8 parking spaces, where will I put my toys when I move there?
I hear there's a bicycle rack.
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