Hi. I'm really enjoying your videos. I have certainly learned some things. If you haven't done so already would you consider doing a video comparing and contrasting a catamaran and a trimaran - cost, cost of ownership, sailing, comfort, etc. Thanks again for all the information.
Thank you, thank you for the depreciation schedule in particular. Looking at possibly making an investment to buy a full-time cruiser "for a few years" right after I retire and before we buy a retirement home. Looks like I might be able to do this knowing I might lose a little money, but not lose my shirt if we buy right. It's given new life into the possibility of full-time cruising after I had kind of written it off as a bad idea due to "throwing away" money in depreciation. I know it's still a risk, but hopefully a controlled or known risk at this point. Thanks again!
The depreciation discussion added to an already miraculous piece of insider information:). I share your sentiment. I want to get a fast cruising cat and warm up in the VI. Then go trans Atlantic round trip. Maybe through canal and go that way. Have seen the Schionning designs?
A lot of great information. We are preparing to be sailing full time within 10 years and there is a lot of questions we keep coming up with! Thanks for the video!
hello, thanks for making informative videos. I plan on retiring on a Cat. I will be in the market in 2024, ill be 55 yrs old and have about $125,000 to spend. I have no intention of selling and plan on taking my last breath on board :). SE Asia will be where i plan spending most of my time.
CRAIG, IT'S REALLY HARD TO FIND GOOD CATS FOR $125K...I'D LOOK AT 5-6 YEAR OLD MONOHULLS WITH A REFIT GUARANTEE. THAT WAY, YOU KNOW EVERYTHING IS IN GOOD WORKING ORDER AND THE YACHT IS RELIABLE.
Hi Gary, I'm tuning in to watch every video you publish.... I liked your idea to walk through the Marina to look at some yachts in the water. What I'd love to see a video on is ways that I could use a cat to generate income and move from the fulltime/part-time work I do now to a Cat based Yachting income. We've emailed before and you've told me about AirBnB'ing a Cat etc and some other ideas.... And I know the way most people make money is by chartering etc, hosting live aboards, or day cruises, etc.... but if a person is new to the Cat sceen, like me (always having dreamed about it but still haven't taken the leap of faith)... it's hard to learn about chartering without just jumping in and doing it... So I'm still close to making my decision to buy, but - as you know we've talked about Charter Management programs like Dream Yacht and Moorings, etc... I'd buy through a broker, like you, if I knew how I could quickly begin making passive income from use of the Yacht while I'm still working and then from time to time use the yacht myself; or, If I knew how to make enough money from an income generating scheme to support all the costs of ongoing ownership and use, etc maybe I could quit the other work I'm currently doing, and jump full time into Cat life.. :-) But without having confidence in my ability to make an income from the Cat, and not being independently wealthy - such that the Yacht is a toy, etc... I'm still not ready to buy, because once you buy (as you know and are teaching us) the costs start mounting up. So my request is, do you think you would have enough material to make a video on ways to generate income from Cat ownership? Maybe a lot of people won't talk about this, because if they are currently making money from their Cat, they don't want to let their secrets out so other people will come along and try to copy their idea and take part of their market share.... Thanks again for sharing your vast amount of knowledge....
Good idea... there is a lot of mis-information about this too and I will develop a video on this. It is a sensitive subject so if you want a briefing now just call me.
Hey, great videos, I've watched a bunch and I have a couple of questions... 1. As a fiscally conservative guy, looking to buy right, I've found the market today is crazy (and has been for awhile). It seems cat sellers are asking crazy prices for these depreciating assets. I mean, looking at your chart regarding depreciation, I find it nowhere close. In fact some boats are asking over what I think they sold for new back 4-5 years ago. It seems the manufacturers have raised the new prices so much that the depreciation graph works in comparison to a new cat today...(as an example I could have bout a new 450F around $550k in '16 (I think) That boat today in the US for $300K?) So, after all this...haha...do you feel the market be crazy? Do we have such unsophisticated buyers that have more money than sense and when will reality set in? Haha 2. You mention the sweet spot of 4-5years and I understand your logic..new= good (def. wider beam hulls)...But, don't you feel the build quality is deteriorating? I've been lurking in some owner groups of some new cats and listening to the chatter about failed components, hulls cracking, etc...Seems the factories are rushing these boats out the door... You've been in the industry a long time...Been there, done it...So are you scratching your head about what you see in today's market? 3. While I think your argument is good and based on experience, why do you think these older (8-12 yo) vessels are holding value when they are just money pits? Thanks... BTW - Who am I? just a guy that's been watching this for the past five years sitting on the sidelines trying to find the right deal....Until then, I'm fine on my "bought right" 45' SeaRay
Hi Ron, leasing is very very rare. There is a way but it must be done through a new yacht dealership (mostly in Europe) and only for a very few models....so I will think about how to put this into a video, Best, G
@@Catamarans Gary, as I am new to this, I think I am confused. I thought it was leasing to own you might have been talking about in your video. Other than purchasing/financing a boat out right, are there other programs i.e. charter to own?
@@JibeTalking Yes, there are "Seller financing programs" to own but they are rare and the selection of yachts is very limited. You essentially put down 35%-40%, they pay all expenses for 5 years (loan payments, insurance, dockage, maintenance) and you make a balloon payment at the end...usually 25%-30%. You get some "Owner Use" privileges in these 5 years but you must keep the boat where they specify. These programs just help make it a bit easier to buy BUT when you run the numbers be sure to look at the residual value because depreciation becomes your problem and the yacht may not be worth what you think at the end of the 5 years.
@@Catamarans Gary thanks for the information and insight. Listening to your videos has been educating to say the least. I have made notes about everything you have talked about. We are maybe about 1 1/2 years from actually purchasing a cat. I am retired Army and we looked into the requirements for financing/insurance etc from USAA. It was funny they said they weren't lending any money because the country was in a recession. We just did a our first lesson/charter in San Diego on a Lagoon 42 owner version and fell in love with it. I will continue to do research and of course we are going to get ASA certified. I don't think the Seller financing program is our cup of tea. Appreciate everything you are doing and we continue to follow you. Great job on the videos.
Hey Scott, if you buy outside the US and bring it back then Duty is owed. There are ways for anyone to remain totally tax-free but there are conditions to follow. There are a lot of distortions and mis-interpretations about Registration and Taxes I'll do a video on this.
How do we avoid Brokers-flippers that: 1-practice illegal flipping as they have inside info as to how much the buyer will take due to the condition of the boat or a personal situation with the true seller: divorce etc. 2-Modus operandi or scheme: with small "good faith deposit" to the seller from an xyc LLC in Delaware, the broker becomes the new seller for a term of 90 days. 3-the broker will make an offer with a small deposit of 50% market value to the true seller and resale for market value.
I have seen it with planes and medical equipment. Now that i come to think about it, this practice probably happens in the mayority of goods and services in the market. Hence the saying "caveat emptor, buyer be aware"
Must faster, easier, cheaper, less paperwork, more private and just as legal to form a tax exempt private trust. Keeps you off everyone's radar including the major annoying alphabet agencies.
![This is EXACTLY How Much We Spend to Cruise a Catamaran - [Sailing Life]](http://i.ytimg.com/vi/dj3wZvBTmj4/mqdefault.jpg)
PLEASE do a video on repairs. Maybe two.
Hi. I'm really enjoying your videos. I have certainly learned some things. If you haven't done so already would you consider doing a video comparing and contrasting a catamaran and a trimaran - cost, cost of ownership, sailing, comfort, etc. Thanks again for all the information.
Thank you, thank you for the depreciation schedule in particular. Looking at possibly making an investment to buy a full-time cruiser "for a few years" right after I retire and before we buy a retirement home. Looks like I might be able to do this knowing I might lose a little money, but not lose my shirt if we buy right. It's given new life into the possibility of full-time cruising after I had kind of written it off as a bad idea due to "throwing away" money in depreciation. I know it's still a risk, but hopefully a controlled or known risk at this point. Thanks again!
The depreciation discussion added to an already miraculous piece of insider information:). I share your sentiment. I want to get a fast cruising cat and warm up in the VI. Then go trans Atlantic round trip. Maybe through canal and go that way. Have seen the Schionning designs?
@@mikewilliams4947 I haven't but I will check them out!
Well shiiiiiiiit, I’m so glad I found this channel! Going to your website etc too. Suuuuper info, much appreciated!
A lot of great information. We are preparing to be sailing full time within 10 years and there is a lot of questions we keep coming up with! Thanks for the video!
Glad it was helpful!
Wow... Awesome video. It's difficult to get ahold of this kind of information.
Glad it was helpful!
Best broker in the business!
wow!!! so much info, thank you!
Thanks very much, a totally different aspect, to buying a Cat regards and Thanks. Kad
Great content many thanks for sharing.
hello, thanks for making informative videos. I plan on retiring on a Cat. I will be in the market in 2024, ill be 55 yrs old and have about $125,000 to spend. I have no intention of selling and plan on taking my last breath on board :). SE Asia will be where i plan spending most of my time.
CRAIG, IT'S REALLY HARD TO FIND GOOD CATS FOR $125K...I'D LOOK AT 5-6 YEAR OLD MONOHULLS WITH A REFIT GUARANTEE. THAT WAY, YOU KNOW EVERYTHING IS IN GOOD WORKING ORDER AND THE YACHT IS RELIABLE.
Awesome information! You will be my broker.
Hi Gary, I'm tuning in to watch every video you publish.... I liked your idea to walk through the Marina to look at some yachts in the water. What I'd love to see a video on is ways that I could use a cat to generate income and move from the fulltime/part-time work I do now to a Cat based Yachting income. We've emailed before and you've told me about AirBnB'ing a Cat etc and some other ideas.... And I know the way most people make money is by chartering etc, hosting live aboards, or day cruises, etc.... but if a person is new to the Cat sceen, like me (always having dreamed about it but still haven't taken the leap of faith)... it's hard to learn about chartering without just jumping in and doing it... So I'm still close to making my decision to buy, but - as you know we've talked about Charter Management programs like Dream Yacht and Moorings, etc... I'd buy through a broker, like you, if I knew how I could quickly begin making passive income from use of the Yacht while I'm still working and then from time to time use the yacht myself; or, If I knew how to make enough money from an income generating scheme to support all the costs of ongoing ownership and use, etc maybe I could quit the other work I'm currently doing, and jump full time into Cat life.. :-) But without having confidence in my ability to make an income from the Cat, and not being independently wealthy - such that the Yacht is a toy, etc... I'm still not ready to buy, because once you buy (as you know and are teaching us) the costs start mounting up. So my request is, do you think you would have enough material to make a video on ways to generate income from Cat ownership? Maybe a lot of people won't talk about this, because if they are currently making money from their Cat, they don't want to let their secrets out so other people will come along and try to copy their idea and take part of their market share.... Thanks again for sharing your vast amount of knowledge....
Good idea... there is a lot of mis-information about this too and I will develop a video on this. It is a sensitive subject so if you want a briefing now just call me.
so HELPFUL
Hey, great videos, I've watched a bunch and I have a couple of questions...
1. As a fiscally conservative guy, looking to buy right, I've found the market today is crazy (and has been for awhile). It seems cat sellers are asking crazy prices for these depreciating assets. I mean, looking at your chart regarding depreciation, I find it nowhere close. In fact some boats are asking over what I think they sold for new back 4-5 years ago. It seems the manufacturers have raised the new prices so much that the depreciation graph works in comparison to a new cat today...(as an example I could have bout a new 450F around $550k in '16 (I think) That boat today in the US for $300K?) So, after all this...haha...do you feel the market be crazy? Do we have such unsophisticated buyers that have more money than sense and when will reality set in? Haha
2. You mention the sweet spot of 4-5years and I understand your logic..new= good (def. wider beam hulls)...But, don't you feel the build quality is deteriorating? I've been lurking in some owner groups of some new cats and listening to the chatter about failed components, hulls cracking, etc...Seems the factories are rushing these boats out the door... You've been in the industry a long time...Been there, done it...So are you scratching your head about what you see in today's market?
3. While I think your argument is good and based on experience, why do you think these older (8-12 yo) vessels are holding value when they are just money pits?
Thanks...
BTW - Who am I? just a guy that's been watching this for the past five years sitting on the sidelines trying to find the right deal....Until then, I'm fine on my "bought right" 45' SeaRay
Gary can you do a video on Leasing and how it works in the Cat business.
Hi Ron, leasing is very very rare. There is a way but it must be done through a new yacht dealership (mostly in Europe) and only for a very few models....so I will think about how to put this into a video, Best, G
@@Catamarans Gary, as I am new to this, I think I am confused. I thought it was leasing to own you might have been talking about in your video. Other than purchasing/financing a boat out right, are there other programs i.e. charter to own?
@@JibeTalking Yes, there are "Seller financing programs" to own but they are rare and the selection of yachts is very limited. You essentially put down 35%-40%, they pay all expenses for 5 years (loan payments, insurance, dockage, maintenance) and you make a balloon payment at the end...usually 25%-30%. You get some "Owner Use" privileges in these 5 years but you must keep the boat where they specify. These programs just help make it a bit easier to buy BUT when you run the numbers be sure to look at the residual value because depreciation becomes your problem and the yacht may not be worth what you think at the end of the 5 years.
@@Catamarans Gary thanks for the information and insight. Listening to your videos has been educating to say the least. I have made notes about everything you have talked about. We are maybe about 1 1/2 years from actually purchasing a cat. I am retired Army and we looked into the requirements for financing/insurance etc from USAA. It was funny they said they weren't lending any money because the country was in a recession. We just did a our first lesson/charter in San Diego on a Lagoon 42 owner version and fell in love with it. I will continue to do research and of course we are going to get ASA certified. I don't think the Seller financing program is our cup of tea. Appreciate everything you are doing and we continue to follow you. Great job on the videos.
Awesome information! Thanks
Glad it was helpful!
Great video Gary!
Hi Gary, If you buy a boat outside the US and register in DE, do you also have to pay import duty?
Hey Scott, if you buy outside the US and bring it back then Duty is owed. There are ways for anyone to remain totally tax-free but there are conditions to follow. There are a lot of distortions and mis-interpretations about Registration and Taxes I'll do a video on this.
How do we avoid Brokers-flippers that:
1-practice illegal flipping as they have inside info as to how much the buyer will take due to the condition of the boat or a personal situation with the true seller: divorce etc.
2-Modus operandi or scheme: with small "good faith deposit" to the seller from an xyc LLC in Delaware, the broker becomes the new seller for a term of 90 days.
3-the broker will make an offer with a small deposit of 50% market value to the true seller and resale for market value.
Hmmm, I've never seen this happen in 31 years of being in this business...did you see a case like this? If so, where/who?
I have seen it with planes and medical equipment. Now that i come to think about it, this practice probably happens in the mayority of goods and services in the market. Hence the saying "caveat emptor, buyer be aware"
When is the best time to buy?
The best time in the Western Hemisphere is during the summer months especially June-July and early August.
Must faster, easier, cheaper, less paperwork, more private and just as legal to form a tax exempt private trust.
Keeps you off everyone's radar including the major annoying alphabet agencies.