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Old 12-30-2010, 08:40 PM   #3
Woodsong
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City: Atlanta
Vessel Model: Bayliner 4550 Pilothouse
Join Date: Oct 2007
Posts: 1,630
RE: Buying before Selling?

buying before selling only makes sense if you can truly afford it and don't care what you sell your first boat for. I did the 2 boat owner thing back when we bought our previous boat....had one boat on 2 different lakes....used boat #1 for weeknight sunset cruises as it was only 10 minutes from the house, boat #2 on the weekends as it was 45 minutes away. Did that for about 6 months before selling boat #1. That was before the market collapsed. If you price boat #1 right it will be gone quickly. The trick is making sure you understand what the real FMV of your boat #1 is prior to buying boat #2 so that you can correctly calculate that price into the overall deal. Biggest problem is when you are still in fantasy land on boat #1's value which is often the case these days due to how much boat prices have dropped.
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