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Posted on Jan 23, 2014 | 0 comments

So Close and Yet So Far: Morgan Out Island 372 Review

Morgan Out Island 372

Not exactly her best side.

With the sale of our house pending and the realization that our current savings was adequate for a boat purchase, I decided to start digging through Craigslist and Sailboatlistings.com to explore the for sale by owner boat market. And by digging, I mean a solid 4 hours endlessly scrolling through terrible listings trying to discern which ones were even close to what we were looking for. I mean, come on people, a few pictures of the interior and an actual description would be nice. In the course of this mind-numbing search, I came across what seemed impossible…a Morgan Out Island 372 for sale in Peoria, Illinois. Not only that, but the pictures looked okay and it was listed in our purchase price range at $26,000. I instantly sent the listing to Dan to take a look at and contact the seller.

I’m not going to lie, I was so excited I could hardly sit still. I mean, how perfect could it get? A boat that we would like, in our price range, literally 5 minutes from home? I was starting seeing a Great Lakes route to the Atlantic, a going away party with friends and family that ends with the casting off of lines, the luxury of working on the boat ourselves while still being able to work full time…I have an active imagination. I just knew this had to be the boat for us. We heard back quickly from the seller who provided us with a fairly recent survey that looked decent, another bonus. It was time to see her in person.

Aaand we were severely disappointed. To be fair, it seemed that the bones of the boat were in good shape, no major structural issues and all that. In fact, we really liked the layout and overall set-up of the boat. However, this boat had so many terrible modifications that just made us go “why did you do that!” over and over again. The water heater had been removed and sold, along with the gimbaled stove which had been replaced by a portable cooler. The icebox refrigeration had been sliced and diced to make way for a dorm sized front loader that had to be held shut with a bungy cord. The cabin sole was badly damaged and covered by ugly carpet. One of the settees had been modified into a pull-out bed with a spring support system… effectively eliminating any potential for storage space below. Trust me, I could go on. Not only were there so many cosmetic issues to be dealt with, but there were many safety issues evident as well such as the gooseneck on the mast being replaced with a “custom-designed” piece by a welder friend because it was too difficult to find the actual part. Um yea, not going to go there, thanks though. I guess the search continues.

Want more pictures? Check out the Morgan Out Island 372 photo set on flickr. While you’re there, check out our flickr photostream to see what we’re up to!

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Lovely anchor and rotted bowsprite

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I almost forgot to mention the dogder and bimini with ripping seams and fogged windows.

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If you look closely, you can see the awesome caulk job on the portholes.

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The seller told us “Not to worry, all British engines leak oil!”

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Most of the original teak cabin liners were rotted and covered over by similarly bad choices of wall coverings.

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You can see here the huge icebox…destroyed for a dorm fridge.

 

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Posted on Jan 2, 2014 | 0 comments

Start Your Engines

Toy cars on the coffee table

Cars, trucks, and motorcycles. What more could a little boy want?

The new year has begun and we are hitting the ground running. We’ve made some huge progress towards our cruising goals in only a few days and the realization has finally sunk in. Things just got serious, folks. All of a sudden Dan and I have become somewhat overwhelmed by the amount of work that must be done in a relatively short time.

Let’s back up a bit. A few weeks ago, we were working on our financial plans trying to figure out what exactly still needed to be done before we could attain our preferred amount of savings (i.e. $10,000 kitty; $3,000 per house rental reserves; and $40-50,000 in total boat purchase/refit allowance.) Our goal was to purchase at least 1 more rental house so our total could be 5 houses producing around $1,500 a month in total profit. To do that, we would either need to buy a 5th house out of our current boat savings (boo!) or sell our owner occupied house for enough to pay for 2 house down payments (yay!) 

We decided to talk to the realtor who sold our last house as well as showing our house to a coworker of Dan’s who said she might be interested. The realtor quoted us a very healthy number that would far outweigh the cost of purchasing 2 additional houses, but it turns out that listing it wasn’t even necessary. Dan’s coworker loved our house so much that she made an offer one day after seeing it and our tentative scheduled closing date is February 3rd! Talk about a quick sale from thinking about selling to sold in a week! The only downside is now we have to get another house purchased ASAP or we might be out on the street in a month. Packing and house shopping is on the menu for sure!

In addition to working out our housing issues we also decided now would be a good time to start actively searching for our boat. We want to have plenty of time to find the best boat for us for the right price. I’ll go into more detail on that search in another post coming soon, but the important thing is there has been a major shift in mindset occurring in our plans. We are no longer looking at boats as prototypes or theoretical options, now every boat we look at has the potential to be the one. Serious scrutiny of each boat and the options available takes a lot of time and effort to get right, but it’s crucial that we make good choices in the beginning to allow ourselves to stay on track for cruising this year.

That’s right, I said it: WE’RE CRUISING THIS YEAR! Happy 2014!

 

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