Tell me this is a terrible idea... Please

D

dyerdan

Member
May 7, 2010
54
Great Lakes - Lake Michigan
Boat Info
2002 410 Sundancer
Engines
3126 Cats
I have located a 1999 540DA with bad engines, at National Liquidators in Ft. Lauderdale if you are wondering. It has been for sale for quite some time, and I have actually looked at the boat in person. It is not in terrible shape, but it is neglected.

So I have been pondering the idea of low balling an offer this boat as a "Project" I am figuring roughly 100k to repower it, and another 100k to totally refit.

Tell me this is a terrible idea. Please.
 
What engines? I'm guessing 3196's or Detroits because the other option was 3406's which were bullet-proof.

But. it doesn't matter..........I know of one '99 540DA that sold for $245K, needed some cosmetics but had 3406's that were perfect. There is another 2001 540DA for sale in Miami that is captain maintained for a developer and the boat is perfect in all respects. The owner bought a new Marlow and his captain is stretched too thin so they are ready to sell the 54 and they have told the broker to accept any qualified offer over $225K. Based on those 2 examples, you are going to invest almost what the boat is worth to get it right, and that doesn't include your low-ball offer.

So, I think you are right........it is a terrible idea, given the risk involved for hidden problems.
 
dyerdan said:
I have located a 1999 540DA with bad engines, at National Liquidators in Ft. Lauderdale if you are wondering. It has been for sale for quite some time, and I have actually looked at the boat in person. It is not in terrible shape, but it is neglected.

So I have been pondering the idea of low balling an offer this boat as a "Project" I am figuring roughly 100k to repower it, and another 100k to totally refit.

Tell me this is a terrible idea. Please.
Click to expand...
The other unknowns $$$ you might run into because the boats been sitting could add up. Most importantly, I think you could find one ready to roll in the price range of 200K. Why take on all the extra headaches of a project? I vote terrible idea.
 
Yeah.. Terrible Idea.

I was going to repower with C12 Cats or possibly QSM11s. Mind you, I am no diesel mechanic, so it would be "hire it done" time. I was figuring a 50k offer for the hulk, but yeah figure 20k to move it to Beautiful NWI. I was thinking that I would essentially have a "new" boat. with Zero hours.
 
Yup a new boat with zero hours. By the time you are done with all the work, the boat will probably fetch $195 on the market.
 
I have seen that 540 on the internet before. How bad are the engines? Can you just get the top halves redone? I was looking into a 63ss they had there a while back and was told by a Catapiller service rep that they generally would do a rebuild of some sort in the boat that runs about $20k per motor. To repower that puppy I would have been looking at approx $80K per motor plus a ridiculus amount of labor. I thought about it and decided...."Bad Idea!"
 
Unless you are going to do something really custom like gas jet drives whats the point? :huh::huh:

TM-55-1-1.jpg


I mean if you are going back to standard then buy a turn key and be done with it. Or at least get something with good power plants and do the upgrades on creature features.

Just my opinion.
 
If you are that bored, and willing to drop the money...AND you can afford it....DO IT! but put something ridiculous together, not some standard power plant...Give it some ridiculous horsies!!!!!!!
 
This situation is much like high end foreclosure homes, the people that can afford the asset and its associated costs don’t want it (they can afford a turnkey) and people that seem to want it can’t afford it. Flippers don’t want to invest in that high of stakes and the bank doesn’t want to pay storage and liquidation fees. It’s an orphan no one really wants.

This is a terrible idea!
 
For $200k you could own a fleet of Bayliners. :smt043
 
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A friend of mine, back in the late 80's, bought a searay with two bad engines and got the boat for next to nothing. As it turned out, the engines weren't bad afterall; neither would turn over, but all it was, was a bad ground. He fixed the ground, both engines turned over and started. And all that time the broker thought they were seized. So, you never know.
 
JUst buy a smaller bayliner cheap with good engines and swap them out .then let the bayliner go back to the bank.
 
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