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1968 41' C,Should I buy it?

Discussion in 'Hatteras Yacht' started by Silverado6x6, Apr 27, 2008.

  1. Silverado6x6

    Silverado6x6 New Member

    Joined:
    Apr 26, 2008
    Messages:
    9
    Location:
    Wasilla, Alaska
    http://keys.craigslist.org/boa/615959879.html

    Hello, this is a Hatteras I have been in talks with the owner, first off I live in Alaska and the boat is in Key west, its called "Nomad" owned by Neil Dundas, I am hoping someone might have seen it or know the owner, he wants to work with me on the down of $10,000 and will finance the $500 a month payments with zero interest, asking price is $25,000. I have seen pics of it and he has been doing some interior woodwork and says it needs some minor engine work, he did move it this weekend to another better protected slip for the season. I cannot fly down immediately to check it over in person and so I'm trusting my feelings that I can get a great deal here, its what I want though if I had a lot more money I would hunt down a 53' aft cabin but they are for now beyond what I'm willing to commit to. For awhile I was searching for cheap project boats like older Chri Crafts and John Allmands, even a Pacemaker but in several forums its been said that the Hatteras is a better built boat and a better investment. It also appears that anything in this class in good shape sells for over $40K at least.
    I only desire to get away from our long depressing winter for about 4 months a year and relax in a warmer climate, I have no strong desire to do any cruising either but would like the option of doing so. Space is not critical as usually when I travel my teenage son would travel with me and the rest of the family would be in Florida for only a week or two and go see the theme parks.

    I'm trying to see how many of the old salts will say jump before its gone or say hold off and get a survey etc. Thanks for any comments.
  2. Silverado6x6

    Silverado6x6 New Member

    Joined:
    Apr 26, 2008
    Messages:
    9
    Location:
    Wasilla, Alaska
    Here is some background info of myself, I'm 51 I manage a concrete batch plant in Alaska year round, I maintain absolutely everything from the computers to the 480v three phase distribution, I drive the mixers, I have a huge shop and can rebuild anything, I hold certificates for Detroit Diesels and am quite familiar with most of them in our trucks and gensets. I used to work as the chief mechanic on the Tahoe Queen at Lake Tahoe for two years, and I do side boat work here in Alaska, I know fiberglassing quite well and I am a very good fabricator and my strongest points is electrical systems.

    Its been my dream to have a boat all my life, I am unsure if sailing is my destiny so logically my first choice would be something with engines, the market appears to be very good right now for a buyer looking at powerboats for obvious fuel cost reasons. I gross on average $50k a year but most of that is just during the summer season, the rest of the year I cut way back my hours and usually take a month or two off. I have a big home, 8 acres and its paid for, I drive a 2002 fully loaded Silverado dually and it has just a few payments left, so to me I'm in good shape to get committed to a buy but I prefer to stay away from being big in debt.

    I'm not ready to retire not by a long shot but the winters are cold and long here, pay is good and best of all its Alaska. After many hours on several forums I have decided the Hatteras is the best boat to buy even the older ones and thus looking at this 41' Convertible I'm tempted to jump out at it, even to go as far as to just take the word of the seller, he too has lived in Alaska and worked the Bering Sea.
  3. NYCAP123

    NYCAP123 Senior Member

    Joined:
    Mar 14, 2008
    Messages:
    11,205
    Location:
    Long Island, NY
    Silverado,
    DO NOT TRUST THE SELLER! Understand that this is undoubtedly a moneypit/ piece of junk/ a project that will never end or be finished. Don't bother with a surveyor. He doesn't have enough paper for the report a boat like this would generate. That's not to say don't buy it, just understand what you're getting into. You certainly sound like you have the background for this project. It's a real DIY job and a great father/son project. The only thing that bothers me is whether you can afford it. The reality is that you will probably spend a few winters working on it and then you very well might have to pay someone to take it off your hands. The experience and the father/son time is worth a lot, but I worry when you talk about financing. Remember, you're also talking about dockage fees, parts and fuel. Boats like this are generally either run into the hole or renovated into classic condition. The later would require investing $100,000 maybe $200,000. Now your talking about taking on a fairly large debt that will undoubtedly outlive the boat.
    Two fast lessons:
    1) B.O.A.T. stands for "break out another thousand".
    2) The best boat is the one your friend owns (let him have the hassles and expenses; you show up on Saturday with the beer).
    Think about something in the 20 foot range that you can trailer and you can fish from. There's always work to be done on a boat, but this way you and your son can spend more time enjoying it instead of just working on it.
  4. Silverado6x6

    Silverado6x6 New Member

    Joined:
    Apr 26, 2008
    Messages:
    9
    Location:
    Wasilla, Alaska
    Just after I bought my truck I started removing the mirrors, headlights, instrument cluster, radio and all the bulbs to convert to LED and HID headlamps, the other parts were upgraded items from a later year Escalade. I would not be happy if it was an almost new boat with no problems, I would still try to personalize it, yes it sounds like I'm trying to justify this. I do realize what is ahead of me and also what a really nice Hatteras sells for as well or rather at least $40-80K and thats still an older one. OK I am listening about this and maybe I'm being too impulsive, but thats usually how I get what I want.
  5. Seafarer

    Seafarer Senior Member

    Joined:
    Sep 3, 2007
    Messages:
    721
    Location:
    Hudson River
    This one is likely to fit the "if it seems too good to be true" mold. "Minor" engine work rarely ends up being minor or inexpensive on a boat.
  6. NYCAP123

    NYCAP123 Senior Member

    Joined:
    Mar 14, 2008
    Messages:
    11,205
    Location:
    Long Island, NY
    When we first moved to Florida a guy wanted to give us a really nice boat and set us up in a charter business in the Caymens. It wouldn't cost us a cent. He took us out to breakfast to discuss. It was a great deal. Afterwards I told my wife "wait, it's coming". The next day he took us to lunch to give us more details. A great boat, we risk nothing, the guy takes a piece of the profits. We put up nothing, stand to make a great living and get a free boat. After lunch I told my wife "Wait, it's coming". The third day he bought us lunch again. The financing of the deal had something to do with T-bills. The government ends up financing everything, it costs us nothing.....all we have to do is put up $20,000 "good faith money". I thanked him for lunch and told him we'd get back to him. When we went outside I looked at my wife and said: "There it is".
    Buy nothing you don't see,and verify the ownership. Cross all T's and dot all i's. Have a lawyer you know and have dealt with go over anything you will sign. The devil is in the details and the financing could have you losing your home. More than a few pieces of swampland have been sold.
    Has anyone mentioned to you that boats are big holes in the water in which to throw your money?
    Have you wondered why this great deal is coming to someone 5,000 miles away and not someone living in Florida?
    With all I'm saying there is a lot I'm not. You've given out too many details here. This guy undoubtedly has your number.
  7. Silverado6x6

    Silverado6x6 New Member

    Joined:
    Apr 26, 2008
    Messages:
    9
    Location:
    Wasilla, Alaska
    The boat was supposedly moved this weekend, I have not heard anything from the seller since friday so I suppose he is getting his landlines all set up but here is the address of the dock: 7009 Shrimp Road, Stock Island FLA 33040

    I am amazed of all the different blogs and forums out there and the camaraderies boaters have with the tales of woe of ownership, I'm reading this massively long post about a yahtsmanbill at the **********.com/forums about "I can't take the strain".

    Maybe in a long shot somebody reads this and happens to be in that area and sees this boat "Nomad" or somebody has heard of it elsewhere, is there a registry service on the web where a person can do a name search to possibly find the history of it? I tried a google search but as usual it gives answers shot off on tangents.