Financing The Dream

Ask yourself one question…what am I willing to give up to get what I want?  I asked myself that question and the answer was, EVERYTHING!  I have no house, no apartment, no wife, no kids and no car payment.  I only eat at a restaurant once or twice a month, I buy cheap Walmart clothes and the only “Worldly” possessions I own fit in a 5×10 foot enclosed trailer that I pull with a 2006 car, and their mostly tools! That may sound crazy to some, but when I commit to something, I really commit!

My Car And Trailer
My 2006 Impala and Trailer

I have read so many blogs, articles and books, watched just about every YouTube video about everyone else’s decisions and needs. Through it all there were many recurring theme’s about needs and wants and the costs of them all. The more I read and watched, the more I thought I needed to make the dream a reality. Then one day I tried to add it all up….that was eye opening!

After much deliberation I realized that dream was never going to happen with the income I have. I was never going to sail around the world, never going to have the kind of sailboat needed, nor the funds necessary to sustain a boat of that caliber and myself.  I almost gave up.  After reviewing a book I had read before by Lin & Larry Pardy called “As Long As It’s Fun”, I was reacquainted with one of their motto’s…”Go small and go now!”  That really hit home with me at that moment and I realized why wait for a dream that may never happen when I could start small, at a much smaller cost, and just sail the coast!  So that’s what I have done.

Garmin-GPSMAP-942-A
Garmin GPS Chartplotter

Another common question people ask is about “Real World Costs” when it comes to buying, refitting and maintaining a sailboat.  I’ve seen so many spreadsheets, long winded discussions about how each boat and person is different in their needs, bla bla bla.  All I ever wanted was some actual costs and descriptions of the repairs to help gauge the overall finality of the funds needed.  Sure there are many videos of DIY repairs, I can research the cost of parts and price labor costs, but I wanted an overall idea of what I was getting into.

Because I have never found anything geared towards the common man, (or woman) with a low budget, I will show you every dollar I spend and where it went.  Every part, gallon of paint, every piece of sandpaper and every screw.  When I’m done you will have a real picture of what it takes to go through the refit process, and then I will out line what my real world costs per month are while living aboard.

059 (Large)
My Future Home!

I hope by doing this I can inspire someone else to go after their dream with a clearer understanding of what they are getting into.  By sharing my future triumphs and failures I may be able to save a fellow dreamer some hardships, impart some kernel of wisdom to a like minded individual.  And here’s the first bit of information I will impart to you. There are so many boats out there right now many people are willing to Owner Finance it to you.  My Pearson 30 was purchased with $1000.00 down and weekly payments totaling only $8500.00!  I will be finished paying for it by mid September and have it hauled to my boatyard of choice.  I will write a few posts about the boatyard that I will call home for the next year or so and about the moving of the boat to that yard.  Come back and share in all the fun!

 

 

9 thoughts on “Financing The Dream

  1. Sept is almost here, are you filled with anticipation like a kid on xmas eve ?
    This is really going to be a valuable part of your blog, not only for people choosing a boat for a home but for anyone chasing a dream.. With breaking down the costs and steps of your own venture, you will give hope and instruction about how to take steps deciding what to diy and what to have a professional do.. What to refurbish, what to replace new..
    By example, you will teach valuable lessons.. The most important being, how to catch the dream you chase 😊

    Liked by 1 person

  2. Can you explain owner financing …. does it mean that you paid interest free in instalments to the owner without us ing to take a loan? I’m guessing that but sometimes my English gets in the way of understanding US terms ☺

    Liked by 2 people

    1. With interest or without, when the currant owner acts as the bank and takes payments for said object. In my case we drew up a contract of sorts outlining terms of the deal and my bank sends the checks so I have proof of payment. I will take possession after the last payment and we will sign the bill of sale at that point.

      Liked by 2 people

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