Researching new boat build

Hot_Pursuit

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Jun 21, 2013
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Seabeck
Name
Eric
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2022 Pursuit OS325
Another question for you big boat guys with had custom boats built....Did you get a construction type loan with periodic draws based on progress, did you put a chunk of cash down and the builder financed the build with a regular loan at the end, pay cash for whole thing, or did you find a bank who would loan up front on final estimated value??
 
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Chtucker

Lowe boat denter
Feb 15, 2012
3,458
2,371
Sunshine State, AKA NOT.. Kirkland, WA
Name
Howard
Boat
Double Trouble 28' Armstrong
Another question for you big boat guys with had custom boats built....Did you get a construction type loan with periodic draws based on progress, did you put a chunk of cash down and the builder financed the build with a regular loan at the end, pay cash for whole thing, or did you find a bank who would loan up front on final estimated value??

Depends- both on your finances and the builders finances... You should probably talk to People's or Key Bank first, they are the two biggest marine lenders... They are very wary of construction loans, but may do it..
 
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MYNomad

Heading South
Dec 12, 2007
4,181
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Pacific Northwest / West Coast Mexico
Name
Rick
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Yes
Another question for you big boat guys with had custom boats built....Did you get a construction type loan with periodic draws based on progress, did you put a chunk of cash down and the builder financed the build with a regular loan at the end, pay cash for whole thing, or did you find a bank who would loan up front on final estimated value??

My boat was built in Taiwan and my big concern was that China would invade Taiwan (etc.) and I would be stuck. Unfortunately, my builder wouldn't finance anything more than a typical retainage and wanted progress payments on a percentage of completion basis. I handled that with careful contracting. The deal was an upfront payment with progress payments afterward so that when the boat was finished and delivered to the US for commissioning I owed about 5% plus electronics, and paid electronics as they were delivered to the builder. When the boat was ready for delivery, my final payment was relatively small. I didn't finance my build and don't know what a lender would do.
 
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Hot_Pursuit

Member
Jun 21, 2013
513
355
53
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Name
Eric
Boat
2022 Pursuit OS325
My boat was built in Taiwan and my big concern was that China would invade Taiwan (etc.) and I would be stuck. Unfortunately, my builder wouldn't finance anything more than a typical retainage and wanted progress payments on a percentage of completion basis. I handled that with careful contracting. The deal was an upfront payment with progress payments afterward so that when the boat was finished and delivered to the US for commissioning I owed about 5% plus electronics, and paid electronics as they were delivered to the builder. When the boat was ready for delivery, my final payment was relatively small. I didn't finance my build and don't know what a lender would do.
Thanks.
One of the builders gave me a quote with progress payments. The bigger companies I think can finance the build, smaller companies probably cant take that risk.
 
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jasper hickman

Team RED BEARD
Dec 23, 2014
686
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Everett
Name
jasper
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30’ Osprey
I don’t know if you looked at Buffalo Boat up in La Conner, they have made a Pilot house boat that fits the cruising/fishing needs.

The price, size and ability to customize a new boat might fit your need??

668E471F-4380-41B4-9C49-402B2FD5EF81.jpeg


58869BE3-F83D-4972-AFEF-3287D3BB3952.jpeg
 
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MYNomad

Heading South
Dec 12, 2007
4,181
4,791
Pacific Northwest / West Coast Mexico
Name
Rick
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Yes
Thanks.
One of the builders gave me a quote with progress payments. The bigger companies I think can finance the build, smaller companies probably cant take that risk.
Makes sense, but if a dispute arises during construction, not having the buyer's money, but instead owing a bank, really shifts the balance of power. The fact that my builder wouldn't finance (I was happy to pay once the boat got to the US) made me more concerned about the risk of a foreign build. At least you don't have to worry about that.
 
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wdlfbio

Once you go Cat, you never go back
Sep 15, 2008
9,802
9,956
Olympia, WA
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laurence
Boat
2021 Allied WildCat 30
Deposit with progress payments.
 
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Tomictime

Crusty Old Salt
May 9, 2014
871
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Poverty Bay & Carlsbad
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Jim
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Boatless.....
I'm not sure Sea Wolf is around anymore. Stennar talked about retiring when I was kicking tires a couple years ago, and I'm not finding their website... ? Awesome boats, hope I'm wrong.
don’t think they were able to make the leap to ....outboards...Stennar built a very nice boat for sure, hope he is enjoying a well deserved retirement !
 
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Walker Inc.

I Post A Lot But I Can't Edit This
Jun 24, 2013
3,069
7,115
Gig Harbor, WA
Name
Patrick Walker
Boat
33 ft. Coldwater Walkaround
don’t think they were able to make the leap to ....outboards...Stennar built a very nice boat for sure, hope he is enjoying a well deserved retirement !
Eric’s boat is 3 years old. Twin 300 Yamahas. Stennar goes both ways.
 
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G-Spot

Captain
  • Mar 14, 2008
    5,403
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    Salem/OR/USA
    Name
    John
    Boat
    53’ Hatteras STEEL N TIME
    I need to research RSW. Is that seawater cooled refrigeration?

    RSW (refrigerated salt water) would be stupid on a boat this size. I think the 42’ that Coleman’s re-did had an RSW set up that he removed... Day boats don’t really need it.

    Huge amount of weight, would require significant generator for the power needs, not to mention the cost in your budget isn’t going to work.

    RSW on large vessels is amazing. They are water filled holds that keep fish just above freezing, so it is as fresh as can be... The long range boats fill their slammers with bait when they leave San Diego, then as the bait is used they turn on the RSW to keep the catch fresh. The fish can be cut immediately upon arrival. Back in the day they had freezers and the fish were popsicles and took several days of defrost before they could be cut and then re-froze....
     
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    KimH

    Someday I'll live the dream.
    Mar 4, 2009
    2,826
    2,889
    Tacoma/Westport WA/USA
    Name
    Kim
    Boat
    28' Farallon Walkaround "Paragon"
    There's some fairly compact systems out there now that the Bristol Bay gillnetters use. A BB gillnetter is 32' by reg. I don't think cheap though.
    Looks like the skid for the small 3 ton unit is 34"L x 12'W x 18.5" H. 110# dry weight.
     
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    MYNomad

    Heading South
    Dec 12, 2007
    4,181
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    Rick
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    Yes
    RSW (refrigerated salt water) would be stupid on a boat this size. I think the 42’ that Coleman’s re-did had an RSW set up that he removed... Day boats don’t really need it.

    Huge amount of weight, would require significant generator for the power needs, not to mention the cost in your budget isn’t going to work.

    RSW on large vessels is amazing. They are water filled holds that keep fish just above freezing, so it is as fresh as can be... The long range boats fill their slammers with bait when they leave San Diego, then as the bait is used they turn on the RSW to keep the catch fresh. The fish can be cut immediately upon arrival. Back in the day they had freezers and the fish were popsicles and took several days of defrost before they could be cut and then re-froze....

    As an alternative, you might consider an ice maker -- particularly one that can make saltwater ice, since saltwater is better for the fish and doesn't require the production of freshwater. I have an IceSea that makes 600 pounds/day of saltwater ice (800 pounds per day freshwater ice), which is sufficient even in the Baja heat.
     
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    Hot_Pursuit

    Member
    Jun 21, 2013
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    Eric
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    2022 Pursuit OS325
    As an alternative, you might consider an ice maker -- particularly one that can make saltwater ice, since saltwater is better for the fish and doesn't require the production of freshwater. I have an IceSea that makes 600 pounds/day of saltwater ice (800 pounds per day freshwater ice), which is sufficient even in the Baja heat.

    A built in Icemaker or an RSW is way more than I need in a 32' rec boat. Having a hold for a SMAK tote would be more than sufficient, and would help keep the deck clear of coolers. Most of my fishing trips when I have 6 people onboard would be day trips, the longer cruising trips would likely just be the wife and I. When we do our annual trip to Nootka Sound we stay at Critter Cove and sleep in a lodge room every night. I think that if I could fit a 3 cf fridge and a 3 cf freezer under the counter in the cabin would be sufficient for most of the cruising requirements, in addition to the SMAK under the deck..

    I'm gonna need a 40' x 12' boat to put all of this stuff in....
     
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    Chtucker

    Lowe boat denter
    Feb 15, 2012
    3,458
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    Sunshine State, AKA NOT.. Kirkland, WA
    Name
    Howard
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    Double Trouble 28' Armstrong
    A built in Icemaker or an RSW is way more than I need in a 32' rec boat. Having a hold for a SMAK tote would be more than sufficient, and would help keep the deck clear of coolers. Most of my fishing trips when I have 6 people onboard would be day trips, the longer cruising trips would likely just be the wife and I. When we do our annual trip to Nootka Sound we stay at Critter Cove and sleep in a lodge room every night. I think that if I could fit a 3 cf fridge and a 3 cf freezer under the counter in the cabin would be sufficient for most of the cruising requirements, in addition to the SMAK under the deck..

    I'm gonna need a 40' x 12' boat to put all of this stuff in....
    We stuffed a lot into our 28' So much so that the shop foreman stated it would have been easier for them to build us a 30' as it would have been less labor.
     
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    MYNomad

    Heading South
    Dec 12, 2007
    4,181
    4,791
    Pacific Northwest / West Coast Mexico
    Name
    Rick
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    Yes
    A built in Icemaker or an RSW is way more than I need in a 32' rec boat. Having a hold for a SMAK tote would be more than sufficient, and would help keep the deck clear of coolers. Most of my fishing trips when I have 6 people onboard would be day trips, the longer cruising trips would likely just be the wife and I.

    I get that you don't NEED an icemaker or RSW, or much of the other stuff on your list. And for day trips, you can bring all the ice you will need (particularly in your climate), but I think you did mention multi day FISHING trips. If so, an icemaker would be a nice to have (it wouldn't take up any deck space and wouldn't require any coolers), and since you saved a ton of money by omitting the joystick and seakeeper, you are still money ahead.

    I sure like spending other guys' money more than spending my own.
     
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    Hot_Pursuit

    Member
    Jun 21, 2013
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    Seabeck
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    Eric
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    2022 Pursuit OS325
    I get that you don't NEED an icemaker or RSW, or much of the other stuff on your list. And for day trips, you can bring all the ice you will need (particularly in your climate), but I think you did mention multi day FISHING trips. If so, an icemaker would be a nice to have (it wouldn't take up any deck space and wouldn't require any coolers), and since you saved a ton of money by omitting the joystick and seakeeper, you are still money ahead.

    I sure like spending other guys' money more than spending my own.

    this would be sweet. you could plumb the ice chute right into the SMAK tote.
    but for $12k, that's a lot of bagged ice.
     
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    wdlfbio

    Once you go Cat, you never go back
    Sep 15, 2008
    9,802
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    Olympia, WA
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    laurence
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    2021 Allied WildCat 30
    If you want to pay me back, I’ll go buy 8 blocks of ice and load them into my 1/2 tote. Close the lid. Check on them 1-2 times a day for 7 days. Granted, it’s winter, not 70°, and it’s not opening the tote multiple times a day, but maybe it’ll help give an idea of how long blocks will keep things cold.
     
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    Hot_Pursuit

    Member
    Jun 21, 2013
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    Eric
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    2022 Pursuit OS325
    If you want to pay me back, I’ll go buy 8 blocks of ice and load them into my 1/2 tote. Close the lid. Check on them 1-2 times a day for 7 days. Granted, it’s winter, not 70°, and it’s not opening the tote multiple times a day, but maybe it’ll help give an idea of how long blocks will keep things cold.
    Ha! not necessary, but thanks...
    the icemaker Definitely would be cool if I had deep pockets, but I don't.
    Seakeeper is out, but still on the fence about the joystick controls. I haven't heard from anyone who has it, who says it was a waste of money. Can't find anything on this site or TheHullTruth about any negatives regarding the Optimus system, other than the initial cost. Still researching.
    If I don't add it during the initial outfitting of the boat and have it included in the loan, it will not happen.
     
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    OMEGA

    I Should Upgrade My Account
    Dec 17, 2007
    1,032
    745
    WA
    Name
    MCS
    Boat
    40 Cabo FB

    this would be sweet. you could plumb the ice chute right into the SMAK tote.
    but for $12k, that's a lot of bagged ice.


    Eskimo's are pretty sweet. I ran mine for 2 hours over the weekend just to keep the auger from developing scale build up. They don't like to sit for months at a time. If I were building from scratch I am honestly not sure if I would have spent the $13k to option it out. Love it but it is just another system to deal with. You also gotta have a desalination system if you run a Eskimo or you won't have enough fresh water capacity. Now the water maker is something that is a must have IMO especially if you head North.

    PXL_20210102_212957555_copy_2016x1512.jpg


    PXL_20210102_231133140_copy_1512x2016.jpg
     
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    jasper hickman

    Team RED BEARD
    Dec 23, 2014
    686
    632
    40
    Everett
    Name
    jasper
    Boat
    30’ Osprey
    If you want to pay me back, I’ll go buy 8 blocks of ice and load them into my 1/2 tote. Close the lid. Check on them 1-2 times a day for 7 days. Granted, it’s winter, not 70°, and it’s not opening the tote multiple times a day, but maybe it’ll help give an idea of how long blocks will keep things cold.

    I’ve had Ice in one of those 1/2 totes for 3 weeks this spring between halibut trips. It’s hard to believe how well those hold Ice, especially if your not opening and closing it all day.
     
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    Tomictime

    Crusty Old Salt
    May 9, 2014
    871
    960
    Poverty Bay & Carlsbad
    Name
    Jim
    Boat
    Boatless.....
    and it is amazing how quickly a half tote of fresh salt ice will shrink when you load a pile of kings or halibut inside. Day fishing near an ice plant the half tote is good, beyond that in remote BC is another matter. but what a great problem to have, keeping fish you murdered COLD !!!!!
    B1B31929-17B9-4150-A751-916A8ACD58F2.jpeg
     
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