Looking for SLIP ON SOUTH SHORE
- Thread starter marcgin
- Start date
Walt,
I didnt know it wasnt rented until OJ mentioned the slip in a post. UD think that would be somehting the office would tell u.
They really need a website. Would make everyones life easier... Showing avail slips to rent , showing slips for sale etc....
Rob
I didnt know it wasnt rented until OJ mentioned the slip in a post. UD think that would be somehting the office would tell u.
They really need a website. Would make everyones life easier... Showing avail slips to rent , showing slips for sale etc....
Rob
- Joined
- Mar 23, 2004
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- 2,554
Rob,
That would seem to be better but with slips for rent, you would think that they would be more proactive with notifying you.
Right now I am on the list in the office for a slip (for sale) that can accomodate a 14'2" beam. Where I am on the list - who knows. I also don't know whether anything sold through the office vs. private sale would be appropriately priced but will cross that bridge when it comes up, if ever.
That would seem to be better but with slips for rent, you would think that they would be more proactive with notifying you.
Right now I am on the list in the office for a slip (for sale) that can accomodate a 14'2" beam. Where I am on the list - who knows. I also don't know whether anything sold through the office vs. private sale would be appropriately priced but will cross that bridge when it comes up, if ever.
- Joined
- Sep 23, 2002
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- 9,958
Office marks up the slips as Joelle takes a cut.
Best to look on craigslist or dive thru marina now and then.
People put up signs to sell their slips.
Best to look on craigslist or dive thru marina now and then.
People put up signs to sell their slips.
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Good to know.
I also hope my friends will clue me in if they hear of something.
I also hope my friends will clue me in if they hear of something.
Mark,
I drive around every time I go there and have not seen anything for sale your size. I am down there every few weeks and will keep an eye out for you.
It's not that Joelle "takes a cut" but they get a commission for selling a slip that in essence the buyer is paying (5%), same holds true if you rent a slip through the office.
Mark,
Dave is correct about one thing though; when you buy from the office you are paying the real value for the slip (no discounts). I paid about 7k less (office value) for my second slip B13, I believe Don posted a craigslist ad and that's how I got it.
My primary slip D55, was bought privately from a friend, I paid 15k below the "office value". But that was a friend doing me a solid.
The crazy thing though that I have been offered by a few people twice of what I paid for it 4 years ago, most recent offer was a month ago. D- dock is a unique dock and the most preferred in the marina, reason being is the views of the Great South Bay.
Here's how I determine the value of a slip. Let’s say you pay 50k for a slip, 50k in the bank at 5% would yield you $2,500.00 per year. Let’s also say the go forward costs for such a slip (common charges and taxes) are $1,900.00, and then you should be able to rent that slip for $4,400.00 per year. If the rent of that slip meets or exceeds $4,400.00 then you are buying at the right price.
The appreciation of the slip is an additional vig, and will offset the compounding of the principle if you left your money in the bank at 5% interest, in reality the appreciation should yield you at least 8%, conservative figure.
Also if you did what I did (bought a second slip) all holds true as above, but, my primary slip now costs me nothing, as does my winter storage.
When I look at slips down south, the numbers just don’t work, it is far better to rent than buy. This is why I have yet to buy a slip down south. Also there is a nice marina in the Hudson, I think it is called Half Moon Bay; once again, the numbers just don’t make sense.
Also,
Like anything else, you don’t want to have all your eggs in one basket, so, as great as what I am saying sounds, I don’t think I would own anymore than 3 slips, anywhere.
Just MY 2C
Walter
I drive around every time I go there and have not seen anything for sale your size. I am down there every few weeks and will keep an eye out for you.
It's not that Joelle "takes a cut" but they get a commission for selling a slip that in essence the buyer is paying (5%), same holds true if you rent a slip through the office.
Mark,
Dave is correct about one thing though; when you buy from the office you are paying the real value for the slip (no discounts). I paid about 7k less (office value) for my second slip B13, I believe Don posted a craigslist ad and that's how I got it.
My primary slip D55, was bought privately from a friend, I paid 15k below the "office value". But that was a friend doing me a solid.
The crazy thing though that I have been offered by a few people twice of what I paid for it 4 years ago, most recent offer was a month ago. D- dock is a unique dock and the most preferred in the marina, reason being is the views of the Great South Bay.
Here's how I determine the value of a slip. Let’s say you pay 50k for a slip, 50k in the bank at 5% would yield you $2,500.00 per year. Let’s also say the go forward costs for such a slip (common charges and taxes) are $1,900.00, and then you should be able to rent that slip for $4,400.00 per year. If the rent of that slip meets or exceeds $4,400.00 then you are buying at the right price.
The appreciation of the slip is an additional vig, and will offset the compounding of the principle if you left your money in the bank at 5% interest, in reality the appreciation should yield you at least 8%, conservative figure.
Also if you did what I did (bought a second slip) all holds true as above, but, my primary slip now costs me nothing, as does my winter storage.
When I look at slips down south, the numbers just don’t work, it is far better to rent than buy. This is why I have yet to buy a slip down south. Also there is a nice marina in the Hudson, I think it is called Half Moon Bay; once again, the numbers just don’t make sense.
Also,
Like anything else, you don’t want to have all your eggs in one basket, so, as great as what I am saying sounds, I don’t think I would own anymore than 3 slips, anywhere.
Just MY 2C
Walter
- Joined
- Sep 23, 2002
- RO Number
- 10265
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- 9,958
Walter,
You got B13 from me. I found it on craigslist and called the woman. I was going to buy it but then decided the timing may not be right and backed out and gave you all the details. You then bought it. Consider it payback, since you got me my slip!
Mark,
If I see any I will let you know. I am really not interested in being a sliplord and owning more than one. I do want to buy a bigger one if one ever comes up. My personal opinion is the value of these slips may level out or drop as boating starts to get hit by prices. This may be offset by the many marinas that keep going condo.
My dream retirement would still be a place in florida and slip in the anchorage and being able to come up to the island every summer and live on the boat. But that is going to take alot to accomplish!
You got B13 from me. I found it on craigslist and called the woman. I was going to buy it but then decided the timing may not be right and backed out and gave you all the details. You then bought it. Consider it payback, since you got me my slip!
Mark,
If I see any I will let you know. I am really not interested in being a sliplord and owning more than one. I do want to buy a bigger one if one ever comes up. My personal opinion is the value of these slips may level out or drop as boating starts to get hit by prices. This may be offset by the many marinas that keep going condo.
My dream retirement would still be a place in florida and slip in the anchorage and being able to come up to the island every summer and live on the boat. But that is going to take alot to accomplish!
- Joined
- Mar 23, 2004
- RO Number
- 13060
- Messages
- 2,554
Dave/Walter,
Thanks. I like the idea of knowing where you will be each season and my present summer and winter arrangements may be changing.
We'll see what happens and what comes up.
Thanks. I like the idea of knowing where you will be each season and my present summer and winter arrangements may be changing.
We'll see what happens and what comes up.
- Joined
- Mar 23, 2004
- RO Number
- 13060
- Messages
- 2,554
One Anchorage question. When I stopped out to see Brad last week at the place Rob loves to mention, I drove past the Anchorage. I didn't try to go in but would the security guard have let me?