purchasing a slip

[perfectscore]

would like to hear prospective of people who purchased slip as an investment. How has the return been, and the pros and cons that u see?? Considing purchasing a 45 to 50 ft. slip. thanks

[Good Chance]

My response may seem simple but here goes - the value of your slip will only be an investment as long as people have the economic means to spend surplus money/disposable income on larger sportfishing vessels. If the econoimy tanks and people stop buying large vessels, then your slip becomes less valuable as an investment.

I personally can justify spending $150k on 6 30ft posts stuck in the water when there are many other and more profitable ways of investiming money.

[perfectscore]

My response may seem simple but here goes - the value of your slip will only be an investment as long as people have the economic means to spend surplus money/disposable income on larger sportfishing vessels. If the econoimy tanks and people stop buying large vessels, then your slip becomes less valuable as an investment.

I personally can justify spending $150k on 6 30ft posts stuck in the water when there are many other and more profitable ways of investiming money.

thank u for the economics lessons, i guess u just rather poor your money into the hole rather then purchasing the hole. good luck to u, u sound very successful.

[perfectscore]

thanks again

[biebs]

Last year in Palm Beach the slip we were in became available. Asking price was right at $750,000 and that was for a 60ft slip. I guess if you have an extra $750,000K to spend on 4 poles in the water than you deserve it. I think its crazy.

K

[Sweet Caroline]

I will give you my 0.02. Try and calculate that return on the investment and see how many years is your break even point. Then add maintenance along the way. If this is part of an existing marina what happens if the marina folds. Who does the dredging if needed. Since nothing on the water is cheap, repairs, dredging etc can add up and blow you investment or profit right out of the water. I know slips are not cheap, I have considered purchasing one for my boat, but it was going to take too long to break even compared to just renting one. The other factor was the possible boat upgrade which may leave the slip idol for a while looking for a seller or renter.

[whitey]

If you bought slips 10-15 years ago before they went thru the roof you made out well. To buy a slip today does not pay. When you figure out what your payments are the annual taxes and condo fees you will probably be in the hole at the end of the year.

[fishskipper]

I'm only basing my opinion on Pirates Cove Marina and I know nothing about anywhere else. These slips have nearly doubled in the last two years. I wish I had bought ten back then. They are constantly going up. Had a chance for one a few weeks back for 110,000, week later it was sold for 114,000 now asking 130,000. So I would say, it pretty much depends where it is and what the market is in that area!

[Huntersun]

I bought one and wish I had bought more a few years back. Shrinking water frontage dictates the need for some forward thinking on our part if you plan on boating years to come. Yes some might feel the cost of ownership is high today, just give it a few years and ask this question again.

[Squidnation]

Hold off - the craze will be over soon enough and the slips will become available at a reasonable price.