Buying Marina's

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MonacoMike said:
Man, my marina is paradise. I get to the boat and there is a tag indicating it was pumped out, they do it every week.

MM
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What do they charge you for the service? That is the issue I've heard about. Work is done just fine but is reportedly too expensive. Pump out fees at our other marinas are rediculously high.
 
KevinC said:
I would look it as it real estate play that I have seen in retail. Here is an example. Buy for 10M lose 500k/year on operations and sell for 20M 5 to 10 year's later. Who cares if you lose 2.5M on operations if at the end you net 7.5M on sale after loss. Works great until it winds up going upside-down. Then if does you simply bail with bankruptcy after taking salary for years. Work s great if you have no morals and OPM.

-Kevin
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I think that as time goes by here on Long Island the privately owned south shore Marinas will continue to be sold off because the property is more valueable than operating the property as a Marina.
North Shore private Marinas have a better chance at survival because the deeper water up there attracts bigger boats with owners who tend to rely on, and can afford, to have a larger percentage of maintenance and repairs done by the Marina.
Down here on the South Shore the bigger boats aren’t as big, are probably on average a bit older, and owners are more likely to be DIY’ers. One of the big draws for the boatyard I’m stored in for the winter is the owners policy of letting you do your own maintenance and repairs and he is packed solid summer and winter.
Down the canal from it is a place that is more restrictive and he is always advertising available dock space.
 
sbw1 said:
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What do they charge you for the service? That is the issue I've heard about. Work is done just fine but is reportedly too expensive. Pump out fees at our other marinas are rediculously high.
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It is included in our fees, no additional charge. They typically hire a pair summer temps and those that make it toward the end of the season get a $50 each tip. We have a pump out system built into the pier. They just drag the hose to do pump outs.

The new boat is port pump out and I have a port side slip, so they do not even need to board.

MM
 
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MonacoMike said:
It is included in our fees, no additional charge. They typically hire a pair summer temps and those that make it toward the end of the season get a $50 each tip. We have a pump out system built into the pier. They just drag the hose to do pump outs.

The new boat is port pump out and I have a port side slip, so they do not even need to board.

MM
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We buy our gas at a marina near our home. Pump out is 20 bucks. We just don't pump out. Living on the lake means our head gets little use except when cruising. Pump outs in other ports are reasonable. Most expensive is 10. Some may still be 5 bucks. We pump every week when living on the boat.
 
Great Lakes said:
This is an interesting discussion. They just purchased the marina next to ours. Wonder how this will play out
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Belle Maer has been up for sale for 3 years... Asking $9M if I remember right... Your loan payment would be $60k/month...there is no way that would work.
 
sbw1 said:
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We buy our gas at a marina near our home. Pump out is 20 bucks. We just don't pump out. Living on the lake means our head gets little use except when cruising. Pump outs in other ports are reasonable. Most expensive is 10. Some may still be 5 bucks. We pump every week when living on the boat.
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Amazingly enough, here in the People’s Republic of NY, there is little reason to ever pay for a pumpout.
Maybe there is a little benefit to living in a progressive place run by tree huggers and socialists.
The local municipalities have free self service pumpout docks, I’ve got at least 3 of them within a 15 minute cruise in different directions from my dock, and pumpout boats that hang out in popular local anchorages that you call over to your boat.
 
fwebster said:
I've looked at 2 since 2010 and decided that if they made money is was from creative accounting .
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I got the great idea of buying a gas station 2 years ago... You want to talk about creative accounting... Not ever been in that world ..it sure was a learning experience ...
 
As things progress many marinas will likely be state owned and privately managed. Ours was put in to keep lake access open to the public. There are two beach areas, public ramps, fish cleaning station, and trails for biking/walking. Pump outs are free.

The risk of private marinias is they will eventually become condos.
 
JVM225 said:
Amazingly enough, here in the People’s Republic of NY, there is little reason to ever pay for a pumpout.
Maybe there is a little benefit to living in a progressive place run by tree huggers and socialists.
The local municipalities have free self service pumpout docks, I’ve got at least 3 of them within a 15 minute cruise in different directions from my dock, and pumpout boats that hang out in popular local anchorages that you call over to your boat.
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Not always that easy. Hempstead pulled both pumpout boats and our club and other local politicians had to work hard to get them to splash them again. At least we have a pumpout at the entrance of our marina and we try to make use of it regularly when we return.

-Kevin
 
JVM225 said:
Amazingly enough, here in the People’s Republic of NY, there is little reason to ever pay for a pumpout.
Maybe there is a little benefit to living in a progressive place run by tree huggers and socialists.
The local municipalities have free self service pumpout docks, I’ve got at least 3 of them within a 15 minute cruise in different directions from my dock, and pumpout boats that hang out in popular local anchorages that you call over to your boat.
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Its hard to believe that we actually do have something for free here in NY!
 
KevinC said:
Not always that easy. Hempstead pulled both pumpout boats and our club and other local politicians had to work hard to get them to splash them again. At least we have a pumpout at the entrance of our marina and we try to make use of it regularly when we return.

-Kevin
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I’m jealous.
You guys have a great setup over there at Wantagh Park. You can stop and pumpout anytime you head in or out.
Does the Hempstead boat do dockside service in the park in the summer like Tobay?
The closest one to me is Tanner Park, 5 minutes west, but they moved it to a stupid spot after Sandy so I mostly just go the extra few minutes to Tobay. Babylon has a few pumpout docks, but amazingly no boats. Especially with the amount of waterfront they have.
 
sbw1 said:
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New York......home of the free lunch. Who would have thought?
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The free pumpouts are courtesy of local townships that tend to be controlled by more right leaning people. I’m sure that it is killing them at the state level though. The thought of people who own boats, and have jobs getting something for free has to be driving the crooks up in Albany crazy.
I think the State motto is “if we can’t steal it, screw it up, or use it as a handout for “under privileged” folks to buy their votes, we’ll tax the shit out of it”.
 
Blueone said:
Belle Maer has been up for sale for 3 years... Asking $9M if I remember right... Your loan payment would be $60k/month...there is no way that would work.
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Yes it was $9m and from having discussions with the owner of my marina, Eric was dreaming.. This is probably the only option he had though.

I didn’t know JBM was scooped up by them too. That’s a shocker to me
 
JVM225 said:
The free pumpouts are courtesy of local townships that tend to be controlled by more right leaning people. I’m sure that it is killing them at the state level though. The thought of people who own boats, and have jobs getting something for free has to be driving the crooks up in Albany crazy.
I think the State motto is “if we can’t steal it, screw it up, or use it as a handout for “under privileged” folks to buy their votes, we’ll tax the shit out of it”.
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Part of the reason you want free pump outs is the cheap a$$ old guy who will just dump it in the harbor than pay $5.00. Probably a sail boater. :)
 
JVM225 said:
I’m jealous.
You guys have a great setup over there at Wantagh Park. You can stop and pumpout anytime you head in or out.
Does the Hempstead boat do dockside service in the park in the summer like Tobay?
The closest one to me is Tanner Park, 5 minutes west, but they moved it to a stupid spot after Sandy so I mostly just go the extra few minutes to Tobay. Babylon has a few pumpout docks, but amazingly no boats. Especially with the amount of waterfront they have.
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So move over to wantagh and rent your dock space to cover it. But they have been raising rates every year lately.

Last year the pumpout boats would come into the marina but the previous year they were not allowed even though they emptied at our pump out.

I believe it was a political decision since our club applied alot of pressure to get the boats that were granted to them back in the water. Without them there would have not been Any pump out at Zach's. Closest would then be at tobay without having to pay or buy fuel.

-Kevin
 
fwebster said:
In the final analysis you have to take in more money than you pay out to make a profit.....
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LOL thanks Frank! This is single handedly the most obvious piece of advice ever offered on CSR!!
 
sbw1 said:
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How do the slip owners feel about the new owners? Are they mostly able to manage their costs through their association budgeting process or do they have to buy services from the people who bought the marina business? About the only negative I've heard from one owner is the price charged for pumps outs is too high.
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I get the feeling the slip owners (condos) are less impacted. As far as I know the association dues haven't changed. And almost none of the owners I know store at Grand Isle in the winter.

I think the owners side will become much more engaged when the marina gets serious about the restaurant on-site.
 
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