I have owned more than a dozen boats. Big fan of classics. Have a 1976 Hatteras now and owned a 1977 20 years ago. There are usually ways to get insurance and there are buyers. You can get a lot of boat for the money and systems are easy to troubleshoot, fix or replace. I would not buy a wood hull in a larger boat because it is much more prone to serious problems vs. a solid fiberglass hull. Good luck with your search.
After your Loop trip, if the boat doesn't sell as fast as you hope, you could always run it south again. Maybe try reselling in Mobile, Houston or anyplace along the way, just keep the listing active with the notation that you're under way!
@@onFIREfamily Only potential drawback I see is if the storage fees are significantly higher down in those areas. I know there are a few here in Michigan who love the older boats. I've been drooling over a couple of younger Carvers, and hoping for a Lotto win so I can buy a new boat. Still go for the more classic lines though
Some of the insurance is off the chain high, you want your home port for the loop to be Michigan/Ohio. Newer carver and meridian will have soft spots on the top deck. A mechanical fuel injection from 80-90’s will be more reliable than a efi cummings qsb
There's a customer for every boat.. I sold a 71 Grand Banks 42' last year within 3 months of listing and I'm looking now at 48-58 ft 1970's boats right now.. I live in Florida where no one wants to insure you.. But I don't think the boat market is going to slow down anytime soon.. It's being discovered by folks that are looking for alternative travel/life style or retirement.. Live-a-board is a better way to retire and a lot less expensive to have 24-7 water view compared to a multi million dollar home on the water.. (I'm sure you know how hard it is to even find a live-a-board slip on the west coast..) I'd say go with your hearts, boating is a passion..
I didn't go back and review the boats you have looked at but saw a quote on the Trawler Forum that you should be aware of. "If you are doing the Great Loop and like operating from the fly bridge, an enclosed area with screens is a necessity less you get eaten alive by various opportunistic insects." You may have thought of that already, but "for what it's worth".
Thanks for watching (and for sharing that info). We've been told most folks don't have terribly much trouble with bugs while looping but lots recommend the ThermaCell: amzn.to/37VgjYX. Probably not that useful underway but evenings at anchor, etc. It would be nice to have an enclosed/screened space. Appreciate the tip!
because of you guys some of the vessels you are showing has made think about an older vessel that needs a little TLC now and again as it will break the boredom of cruising
You must have the same buyers broker we do, as we hear the same thing. I think the insurance is the main thing. When I interviewed a boat broker last year and asked how many people pay cash vs financing, he said it was about 50/50. Based on that, I think there will a cash buyer for an older, less expensive boat when you want to sell. It is the insurance that may be the deal breaker. If the insurance won't cover an older boat, then you may have a problem when it is time to sell. I think I heard that >30 years brings the number of potential insurers way down and >40 years may be off the table. Maybe you find one that will still be newer than 40 years when it is time to sell? -- With your contacts and experience in the boating industry, I wonder if you could call around and see what you can find. See if you get the same story directly from the insurance guys.
Thanks! Yeah, I think keeping it newer than 1993 (30 years) or 1983 (40 years) is wise. It’s crazy these arbitrary lines are drawn but we have to play by the rules, I guess. Older and less expensive is where it’s at (at least for us, if we can pull it off).
No banks are making loans on boats more than 20 years old. Also, if you're serious about the Loop you probably want to consider diesel boats over gas boats. Most of the newer boats come with two diesel engines or twin gasoline engines. Gas is expensive to operate where in the loop you have limited opportunities to use that speed. I have been working towards a Loop boat for a few years and also decided on old trawlers with single engine diesels, however, I have chosen the sedan or europa style boat only. You'll see that these boats are always in demand and since they are older they are most always cash sales. Since they are cheaper to buy they are cheaper when you sell them. So you do not have to worry about resale very much! I would never pick a newer spaceship. If you look hard enough you'll find an older trawler with a lot of new systems and possibly a new engine. I recently just missed one. If you'd be interested in chatting my email is sailingwithbill@msn.com of course my name is Bill. Hope to hear from you! I live in Connecticut and plan on doing the Loop soon. Hopefully!!!
Wow a few good points I had not thought about. Can the boat be financed by a buyer when your done with it didn’t even think of that one 👍. I live in Bend so not to far away from you guys. I’ve been a member of AGLCA for over 9 years and have not did the loop yet. I’ve just gotten back into looking at boats again and the bug for the loop is getting big again. I’m retired now so Hopefully some day in the near future. Thanks for the video I look forward to seeing more.
Awesome! Glad to have someone near us watching! Attempting this from the west coast certainly does have some challenges but will be totally worth it! Good luck on your journey!
We also don't get it but we've heard a few things: Inexperienced boaters who bought boats during the pandemic filing claims, worse than usual hurricane seasons, marina fires. Also, generally, lightning strikes on newer boats frying electronics causing big claims. Think in car terms: Your 80's Honda crashing into a Tesla. Basically: Insurers have had a rough go of it recently and to remain profitable they've tightened up what they'll insure. For whatever reason, that means older boats and bigger boats. You can move up 10ft in boat from your boating experience now whereas before they'd insure a brand new boater on a 50+ft boat. People suspect they'll come to their senses eventually but maybe not in time for us to buy a boat of our preference.
I'm looking at loop boats too, although I'm still ~2 years out from buying. My opinion... you're overthinking this. Yes, an older boat has some disadvantages, but it will be cheaper to buy for all those same reasons. Buy 'cheap' and sell 'cheap' ('cheap' being relative, of course!). The particular boat, and its condition, is more important than the general category and age. You can buy insurance for older boats, just need to search a little more, or consider liability insurance only.
Overthinking is my hobby :) You are right! Finding the right boat in the right condition is the key. We really appreciate the comment and your support!
One of next happy hours is a Carver 466. Seems ok on the surface but you bring up so good points. Thanks for watching as always! Appreciate the support! Stay warm. Cheers.
You know boat market better than me but it seems boat brokers want to sell to broke boaters to prevent broke brokers. There are probably loopers three years out with the same cash in hand plan who may take that boat off your hands for their adventure. You are just stewards of the boat till it goes to the next one!
Yeah, I thought there was something about needing it to be international (like to Mexico or Canada) to be economical. I’ll certainly take another look at costs for sure! Thanks!
@@zapalskic We're trying to get information on this. What we're hearing is about $1000 per foot from Ft. Lauderdale to Vancouver, BC. So $40K-$50K for the size boat onFIREfamily is looking at. We're in Seattle and would kind of like to buy a boat on the Loop and bring it home when done. Trying to figure out our budget.
Well this sucks. I like the '70s-80's trawlers. Newer boats just don't do it for me. Saving now, hoping to purchase in 4-5 years. Already ruled out wooden hull Grand Banks etc... for the same reasons (insurance/ financing) even though they are 1/10 the cost of the fiberglass hulls. There are a bunch of the 70's-80's fiberglass boats still out there though, so SOMEBODY must be insuring them?
When we had our boat a few years ago we had it insured by State Farm. There is a former commodore of the Tacoma Yacht Club who is a State Farm agent here in the Tacoma area. I was curious about what changes there are with State Farm in regards to insuring boats. I sent him an email and he called me this morning. He said they still insure older boats, that they have a lot of vintage boats like Chris Craft. They don't insure boats >$1million and they don't insure for >60 miles offshore. They don't cover things like mechanical breakdown. They require a survey. He said you would want to compare policies to see how it differed from a "yacht policy". I just wanted to offer this as a possible fix to the problem of insusrance. He'd be happy to talk to you. Alan Rencowski, 253-536-1000. Or google him.
Wow! Thanks so much for looking into this and sharing your findings! We will definitely investigate! BTW, are you the same Brenda from greatloopfi.com? Thanks again for watching and sharing the State Farm info!
@@onFIREfamily Yes. I am the Brenda from greatloopfi.com. We're just a few month behind you in our boat search, so all this research applies to us, as well.
Hi Brenda! Thanks for the shout out on your blog and a thorough coverage of the unseen challenges of buying a boat for the loop. These are things we think about DAILY as we continue down this path but are now complicated by lack of inventory on many of the newer models. It will be interesting to see what we end up with. I suspect you’ll have a better boat buying market for your timeline. Thanks again!
The question is are you boat people or water people? If your water people it won't matter what type of boat you loop with, you'll enjoy the experience. Boat people enjoy the sound, movement, smells, look of the boat. You seem like boat people.
I like the way you guy’s think your not selfish and that’s good you are thinking about other people too and God will bless for thinking of other.
Thanks! I'm glad you appreciate it. Thanks for watching!
I have owned more than a dozen boats. Big fan of classics. Have a 1976 Hatteras now and owned a 1977 20 years ago. There are usually ways to get insurance and there are buyers. You can get a lot of boat for the money and systems are easy to troubleshoot, fix or replace. I would not buy a wood hull in a larger boat because it is much more prone to serious problems vs. a solid fiberglass hull. Good luck with your search.
Thanks for the advice and encouragement! Much appreciated. Thanks for watching!
After your Loop trip, if the boat doesn't sell as fast as you hope, you could always run it south again. Maybe try reselling in Mobile, Houston or anyplace along the way, just keep the listing active with the notation that you're under way!
This is a great idea! Way more fun than dry storage too! 😀 Thanks!
@@onFIREfamily Only potential drawback I see is if the storage fees are significantly higher down in those areas. I know there are a few here in Michigan who love the older boats. I've been drooling over a couple of younger Carvers, and hoping for a Lotto win so I can buy a new boat. Still go for the more classic lines though
Some of the insurance is off the chain high, you want your home port for the loop to be Michigan/Ohio. Newer carver and meridian will have soft spots on the top deck. A mechanical fuel injection from 80-90’s will be more reliable than a efi cummings qsb
There's a customer for every boat.. I sold a 71 Grand Banks 42' last year within 3 months of listing and I'm looking now at 48-58 ft 1970's boats right now.. I live in Florida where no one wants to insure you.. But I don't think the boat market is going to slow down anytime soon.. It's being discovered by folks that are looking for alternative travel/life style or retirement.. Live-a-board is a better way to retire and a lot less expensive to have 24-7 water view compared to a multi million dollar home on the water.. (I'm sure you know how hard it is to even find a live-a-board slip on the west coast..) I'd say go with your hearts, boating is a passion..
Thank you so much for your thoughts and support. It is a passion... Appreciate your feedback. Thanks!
I didn't go back and review the boats you have looked at but saw a quote on the Trawler Forum that you should be aware of.
"If you are doing the Great Loop and like operating from the fly bridge, an enclosed area with screens is a necessity less you get eaten alive by various opportunistic insects."
You may have thought of that already, but "for what it's worth".
Thanks for watching (and for sharing that info). We've been told most folks don't have terribly much trouble with bugs while looping but lots recommend the ThermaCell: amzn.to/37VgjYX. Probably not that useful underway but evenings at anchor, etc. It would be nice to have an enclosed/screened space. Appreciate the tip!
because of you guys some of the vessels you are showing has made think about an older vessel that needs a little TLC now and again as it will break the boredom of cruising
That’s a great point! I enjoy tinkering on things. Not sure what I’d do with a boat that didn’t need anything done to it! Thanks for watching, John!
You must have the same buyers broker we do, as we hear the same thing. I think the insurance is the main thing. When I interviewed a boat broker last year and asked how many people pay cash vs financing, he said it was about 50/50. Based on that, I think there will a cash buyer for an older, less expensive boat when you want to sell. It is the insurance that may be the deal breaker. If the insurance won't cover an older boat, then you may have a problem when it is time to sell. I think I heard that >30 years brings the number of potential insurers way down and >40 years may be off the table. Maybe you find one that will still be newer than 40 years when it is time to sell? -- With your contacts and experience in the boating industry, I wonder if you could call around and see what you can find. See if you get the same story directly from the insurance guys.
I'm going to add a bit of advice I once heard about investing: Become educated and pray about it. :)
Thanks! Yeah, I think keeping it newer than 1993 (30 years) or 1983 (40 years) is wise. It’s crazy these arbitrary lines are drawn but we have to play by the rules, I guess. Older and less expensive is where it’s at (at least for us, if we can pull it off).
No banks are making loans on boats more than 20 years old. Also, if you're serious about the Loop you probably want to consider diesel boats over gas boats. Most of the newer boats come with two diesel engines or twin gasoline engines. Gas is expensive to operate where in the loop you have limited opportunities to use that speed. I have been working towards a Loop boat for a few years and also decided on old trawlers with single engine diesels, however, I have chosen the sedan or europa style boat only. You'll see that these boats are always in demand and since they are older they are most always cash sales. Since they are cheaper to buy they are cheaper when you sell them. So you do not have to worry about resale very much! I would never pick a newer spaceship. If you look hard enough you'll find an older trawler with a lot of new systems and possibly a new engine. I recently just missed one. If you'd be interested in chatting my email is sailingwithbill@msn.com of course my name is Bill. Hope to hear from you! I live in Connecticut and plan on doing the Loop soon. Hopefully!!!
Thank you so much for the encouragement, Bill! Much appreciated! You bring up some great points! Maybe we're not nuts after all!
Wow a few good points I had not thought about. Can the boat be financed by a buyer when your done with it didn’t even think of that one 👍. I live in Bend so not to far away from you guys. I’ve been a member of AGLCA for over 9 years and have not did the loop yet. I’ve just gotten back into looking at boats again and the bug for the loop is getting big again. I’m retired now so Hopefully some day in the near future. Thanks for the video I look forward to seeing more.
Awesome! Glad to have someone near us watching! Attempting this from the west coast certainly does have some challenges but will be totally worth it! Good luck on your journey!
What is the logic of insurance companies not wanting to insure older boats? As in why does covid matter there? Just curious😊
We also don't get it but we've heard a few things: Inexperienced boaters who bought boats during the pandemic filing claims, worse than usual hurricane seasons, marina fires. Also, generally, lightning strikes on newer boats frying electronics causing big claims. Think in car terms: Your 80's Honda crashing into a Tesla. Basically: Insurers have had a rough go of it recently and to remain profitable they've tightened up what they'll insure. For whatever reason, that means older boats and bigger boats. You can move up 10ft in boat from your boating experience now whereas before they'd insure a brand new boater on a 50+ft boat. People suspect they'll come to their senses eventually but maybe not in time for us to buy a boat of our preference.
I'm looking at loop boats too, although I'm still ~2 years out from buying. My opinion... you're overthinking this. Yes, an older boat has some disadvantages, but it will be cheaper to buy for all those same reasons. Buy 'cheap' and sell 'cheap' ('cheap' being relative, of course!). The particular boat, and its condition, is more important than the general category and age. You can buy insurance for older boats, just need to search a little more, or consider liability insurance only.
Overthinking is my hobby :) You are right! Finding the right boat in the right condition is the key. We really appreciate the comment and your support!
The hottest seller in MI to FL is the carver 444. They are the quickest sale and hold their value. I looked at 2, both had soft spots on the top-deck.
One of next happy hours is a Carver 466. Seems ok on the surface but you bring up so good points. Thanks for watching as always! Appreciate the support! Stay warm. Cheers.
@@onFIREfamily i looked at a 466 the entire back deck was soft.
You know boat market better than me but it seems boat brokers want to sell to broke boaters to prevent broke brokers. There are probably loopers three years out with the same cash in hand plan who may take that boat off your hands for their adventure. You are just stewards of the boat till it goes to the next one!
A good perspective. Thanks! Cash IS king, they say.
You can ship the boat on a ship for cheaper than you think. I would say 10k.
$10k is not bad at all if it were the right boat! Is that Ft Lauderdale to Vancouver BC?
I would say Vancouver, WA or Seattle. Crossing into Canada may be more.
Yeah, I thought there was something about needing it to be international (like to Mexico or Canada) to be economical. I’ll certainly take another look at costs for sure! Thanks!
@@onFIREfamily a few years ago, My friend had a boat shipped from Fort Myers to SF for under 10k
@@zapalskic We're trying to get information on this. What we're hearing is about $1000 per foot from Ft. Lauderdale to Vancouver, BC. So $40K-$50K for the size boat onFIREfamily is looking at. We're in Seattle and would kind of like to buy a boat on the Loop and bring it home when done. Trying to figure out our budget.
Well this sucks. I like the '70s-80's trawlers. Newer boats just don't do it for me. Saving now, hoping to purchase in 4-5 years. Already ruled out wooden hull Grand Banks etc... for the same reasons (insurance/ financing) even though they are 1/10 the cost of the fiberglass hulls. There are a bunch of the 70's-80's fiberglass boats still out there though, so SOMEBODY must be insuring them?
Hopefully this is just a COVID related situation that resolves quickly. Agreed that it sucks for now though...
When we had our boat a few years ago we had it insured by State Farm. There is a former commodore of the Tacoma Yacht Club who is a State Farm agent here in the Tacoma area. I was curious about what changes there are with State Farm in regards to insuring boats. I sent him an email and he called me this morning. He said they still insure older boats, that they have a lot of vintage boats like Chris Craft. They don't insure boats >$1million and they don't insure for >60 miles offshore. They don't cover things like mechanical breakdown. They require a survey. He said you would want to compare policies to see how it differed from a "yacht policy". I just wanted to offer this as a possible fix to the problem of insusrance. He'd be happy to talk to you. Alan Rencowski, 253-536-1000. Or google him.
Wow! Thanks so much for looking into this and sharing your findings! We will definitely investigate! BTW, are you the same Brenda from greatloopfi.com? Thanks again for watching and sharing the State Farm info!
@@onFIREfamily Yes. I am the Brenda from greatloopfi.com. We're just a few month behind you in our boat search, so all this research applies to us, as well.
@@brendawilliamson5946 Awesome!!! Should be fun! Love your approach to the financial aspects of prepping for the loop as well. Lots to consider there.
Hi Brenda! Thanks for the shout out on your blog and a thorough coverage of the unseen challenges of buying a boat for the loop. These are things we think about DAILY as we continue down this path but are now complicated by lack of inventory on many of the newer models. It will be interesting to see what we end up with. I suspect you’ll have a better boat buying market for your timeline. Thanks again!
The question is are you boat people or water people? If your water people it won't matter what type of boat you loop with, you'll enjoy the experience. Boat people enjoy the sound, movement, smells, look of the boat. You seem like boat people.
That's a really great insight. Thank you! You're right. We are totally boat people!