How to Flip an Old Boat
Sinking Profits? Sell Old Boats for a Little Extra Income!
Unless you live under a rock, I'm sure you've heard of house flipping. You buy an old house, fix it up, and sell it for a profit. Sounds easy, right? A lot of people have made a killing doing it.
Well how about boat flipping? No, not putting a boat in water and capsizing it. Get an old boat, fix it up, and sell it for a profit.
Within this lens you will find some tips on how to flip a boat...
The Reel Reason...
Once you have found a boat that you would like to re-sell, check it out.
1. How is the motor?
2. How is the hull?
3. How much is it going to take for you to put this boat back on the water?
4. Will this boat make a profit if you flip it?
Once you have found the right boat, the object is to buy low and sell high. Look the boat over and point out all of its flaws.
If the hull needs repair, note it. If the seats need replacing, mention it. If there are miscellaneous little details that need attending to, say it.
When you've picked the visual aspects apart, then run it.
1. Does the motor start?
2. Is the water pump pumping water?
3. Is there sputter?
4. Are there any leaks?
5. Is the motor missing or running smoothly?
Remember the biggest investment in a boat is the motor.
Open up the cowling and look that motor over completely. You can tell a lot by doing this.
1. Is the motor clean?
2. Do moving parts move freely?
3. Do gears work smoothly?
4. How does the lower unit look?
5. Is the prop intact?
6. Does the prop wobble when you spin it?
7. Is there any hesitation, when gears are shifted, coming from the prop?
The next issue is the legal stuff. How's the boat's paperwork?
1. Is the boat motor, hull, and trailer (if it has one), free and clear?
2. Are you going to have to do any leg work to get the papers in order?
3. Are there any liens against the title?
You have thoroughly looked this boat over and think that all repairs needed could be done reasonably, then make an offer! Take into consideration everything you are going to have to do to make this boat sell. Then take a couple of extra hundred off of that. Low-ball the owner. They will counter, but remember you are here to make a profit.
When you've made your deal, take that boat home and get to work! Do any repairs, clean-up, and detail work that needs to be done.
When the boat is ready, take lots of good pictures of it.
With the cowling and without it. Prospective buyers want to see details. Since the motor is the most expensive thing on a boat, make those pictures count.
Give them shots of any special details, like storage.
Also be sure to include pictures of the whole boat from different angles.
Last, but not least, include a video if at all possible. A major selling point of a boat is to see it in action.
When you are writing up your listing take care to include the size of the boat, the capacity, the style, type, and manufacturer. When it comes to the motor include the brand, horsepower, carburetor details, and any engine specifics you have.
You want to sell your boat for a profit. Get the most out of it you can by including benefits of owning a boat like yours.