Paul Meyer Buys Houses

I’m on a short break – not even watching the market – bought a sailboat

Okay, I’m having a bit of a mid-20’s life crisis because my $1000 trades aren’t working out, I’m back in Honolulu from patrol with a full load of tasks, racing to finish my online college classes, making slow progress with my business in India, and on top of all of this making irrational decisions from the crisis by buying a 32′ ft Cal Sailboat to work, repair, and live on at a dock in Honolulu downtown instead of paying around $1000-1200 for a room or studio for 4-5 months.

Okay I know I know buying a boat is a major money bucket. I’ve lived in a 28ft sailboat in St. Pete Beach, Florida when I was 24 for around 4 months so I know what to expect and what kind of costs are calculated into it. I bought this boat for $3500 which is considered dumpster cheap in Hawaii because boats are sold for $$$ because its hard to get them here. Now it looks like it could be in the dumpster. It needs many repairs in new structure, lots of sanding, and a lots of painting. I created a blog to journal all the steps I took on buying, repairing, and how to liveaboard a sailboat in Hawaii at I will also be posting lots of pictures of renovations and sailing trips around islands. I got the engine running yesterday with the person who sold it to me. A very salty sailor. It is a yanmar 2 cyl 18 horsepower so I’m pretty fortunate to buy a sailboat with a #1 good diesel engine with it. I think the sails could be bad, but I plan renovating the entire boat since it’s paid off and I can live on it for around $260/month at a slip in Honolulu, HI which includes water, electricity, cable TV, and hot showers/bathroom at harbor. I’ll be living life pretty cheap and simple although I know I’ll be putting at least $5000-10000 into the boat. I looked at prices on similar models and year (it’s a 1958 wooden boat) and fully renovated they sell for $30,000. I don’t expect to make any money and I might not even sell it. If I have a boat where I can sleep in, make food, and go sailing for only $250/month in Hawaii why sell it? It would be a fun get away.

Well I have off work until April 9th. So working on the boat and doing many tasks besides watching the market will be what I’m up to. My positions are worthless. Google is falling as I figured it would hard (which of course again I’m not trading) and big swings are happening. I plan on setting up in my boat a trading station. (hahah, yea you heard that right).

cheers, fn

6 responses

  1. Jster

    I think its a good idea that you bought that sailboat. Beside the obvious cost savings of living in it; the thing looks like a fixer upper and will give you time to reflect on your trading while working on the boat.

    Just wondering why don’t you simply trade stocks instead of stock options? Seems like you’re getting owned by time constraints of options and you also seem to go against market conditions.

    Anywayz like the blog man, happy sailings.

    March 7, 2008 at 7:14 pm

  2. Hello.

    Thanks for the comment. I do not have enough capital to profitably trades just stocks. You really do need $75-100k in cash where as if you trade options only you only need $1000-5000 to earn the same ROI on your money.
    I would not say buying a sailboat is that good of an idea being that it is the biggest losing money bucket to man kind, but it will help me at least receive back some of the money I would have never gotten back from just paying high rent. I just slept in it last night. It’s really quiet and I am planning on putting in a 2-4 screen trading station in it! Hahahah. How? Well I’ll figure that out on the way there. Cheers, fn.

    March 8, 2008 at 4:26 am

  3. Chris

    Based on what I’ve read, it looks like there are only two marinas in the whole state that allow liveaboards, both on Oahu, and both have 5+ year waiting lists…

    March 3, 2010 at 3:41 am

    • living aboard your own sailboat is great fun. it can be done on Oahu if you have cash.
    • March 12, 2010 at 11:47 pm

  • Buying a sailboat is never a mistake, my friend!

    March 25, 2010 at 12:47 am

    • I can’t say the same owning 2 sailboats (around 30 footers). expensive, never left the dock, but were great to eat in the cockpit drinking a beer into the sunset. that is as much romanticism as I got by myself. I got to power-sail with the coast guard. Lots of cruising which took up for my sailboats never leaving the dock. hahaha

      March 25, 2010 at 1:38 am

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