Life after Homebuiding

[wsdemmer]

After spending over 35 years in the homebuilding arena I am looking to do something in the marine environment. My family is currently cruising the Bahamas for several months as a last family extended summer before they go back to finish college. The question is what to do next. As everyone knows the construction industry is in the toilet and I have lost my drive for the industry. I love the ocean, have my masters cg 100t license and have operated our 74' Hatt for almost a year and a half. Anyone have any ideas. I do not wear rose colored glasses. Every industry is tough (though not as bad as the high end residential construction industry ) Just looking to do something different. Money is not a top priority but I want to be paid for the work I do as I am not ready to retire (just turned 50) and I get satisfaction out of working. I know that there is a wide collection of wisdom on the forum so I thought I would try it and see what I get.

 

[rsmith]

After spending over 35 years in the homebuilding arena I am looking to do something in the marine environment. My family is currently cruising the Bahamas for several months as a last family extended summer before they go back to finish college. The question is what to do next. As everyone knows the construction industry is in the toilet and I have lost my drive for the industry. I love the ocean, have my masters cg 100t license and have operated our 74' Hatt for almost a year and a half. Anyone have any ideas. I do not wear rose colored glasses. Every industry is tough (though not as bad as the high end residential construction industry ) Just looking to do something different. Money is not a top priority but I want to be paid for the work I do as I am not ready to retire (just turned 50) and I get satisfaction out of working. I know that there is a wide collection of wisdom on the forum so I thought I would try it and see what I get.

If your looking for a Capt job you need at least 1600gt on your masters to even be in the running. If you run your own boat like I do, with the price of fuel will eat up all your profits. IMHO the boating and aviation industries are as bad or worse than housing. But that said there are always opertunitys for creative people. I have a friend that went from running fishing charters to river "ECO" tours and is at least surviving.

 

[Boatsb]

A good captain can make about $200 a day making deliveries. That said is it worth the cut in pay to run other peoples boats?

Being a captain is not a way to really make a living unless you are running something commercial or a large private yacht. Repairs are not a great industry as most boat owners are pinched for cash these days.

Boat building is in the toilet and marinas are hurting. What would you consider as a new career?

 

[Pascal]

if your 74 is in good shape and if you are in the right location, charters are definitely an option.

unlike fishing charters which i think rsmith is referring to, fuel prices do not have a huge impact on yacht charters. With term charters (week long) the guests pay for the fuel so the only impact is that it makes the overall charter a little more expensive. For instance on a week long charter to the Exumas out of Nassau, you're only going to cover about 150nm, most of it can be done at hull speed so fuel is a fraction of overall costs.

With day charters, fuel usage isnt' that big as you usually dont go far and you typically cruise at hull speed. On the average day charter here in miami, we use about 40 to 50 gallons of fuel in a 70 footer... a $ increase in fuel amounts to just $50...

it all comes down to location and having the right boat. it takes some $ to get a boat charter ready as details are critical; things like soft goods, linens, towels, galley stuff, water toys, etc... need to be new and "upscale". you also need to have the right mate/stew... it's not much different from running a Bed & Breakfast. Plus with your own boat, you should get some tax benefits.

like every business, it takes a while to build it to a point where you start turning a profit and obviously a little bit of luck in hooking up with the right brokers.

personally, I like doing charters... we get to meet interesting people and share our love of the ocean and the places we enjoy. it's a lot more interesting than doing deliveries...

 

[65Hatntx]

1. If you want to stay in the high end residential home market... move to Houston, or maybe anywhere in Texas. I build homes... not many, only 2-3 per year.... in the neighborhood where I build in Houston... there are probably 30 homes under construction between $2M-$5m right now. It has never really slowed down here. That said.... I would rather be on my boat than building houses.... it is just a means to the end at this point. I keep my boat in Nassau and can leave Houston at 10:00am and be on the boat by 2:00pm (seasonal direct flight). I think that if you relaly want to be your own captain and live off the boat your best bet is a great web site, a couple of brokers and running charters out of the USVI and BVI. Just my two cents.

 

[wsdemmer]

I am from Texas and spent all of my time in San Antonio. Pretty much burned out of the custom business. We did 4-7 projects a year and when ATT left San Antonio and then the economy tanked I saw the writing on the wall and closed my business. My wife and I have entertained doing our own charter and definitely considered the write off ability of chartering. We were planning on doing a soft good upgrade for the boat when we finish the Bahama trip which would put us in good shape for presentation. Mechanically our boat is in very good shape. Our boat is a great layout for chartering and entertaining which is what the previous owner did for many years. Chartering might be a good short term gig. Lots to think about and plan. Thanks for the replys.

 

[jim rosenthal]

Good luck with this new phase. A lot of folks who expected to retire out of their long-term business are looking for "new opportunities", the old ones having gone bust.

A friend of mine up here was in a similar situation, although the houses he was building were not quite as high-end as yours, I think. Recently, he has been buying older properties, rebuilding them, and reselling them, one or two at a time. (this is in PA) Would that be an option?

Having said that, personally, I'd rather be on the water doing what Pascal and Angela do.....

 

[krush]

Move to North Dakota. Be a pipeline welder or similar functions. $100/hr.

 

[wsdemmer]

One of my customers offered me a job in the Bakken but I would rather sweat my but off in Houston near the water than do anything in the frozen tundra. I am lucky that I am still able to choose

 

[Boatsb]

Move to North Dakota. Be a pipeline welder or similar functions. $100/hr.

Is that a union job or what?

 

[wsdemmer]

My customer has leases in the Bakken and he told me that they are paying truck and rig drivers (cdl) with experience in the oilfield over $100K per year! Talk about a place where volume housing is a need. Problem is that it will dry up really quick once oil hits 70 bbl which is where I personally think it is ultimately headed with the amount of production that is being ramped up. Still don't want to go there.

 

[krush]

Is that a union job or what?

No, this is in your pocket if you are the welder. I have a good friend that moved up there a couple months ago. There is a need for "get it done" type people. There are many trades in the USA that pay very well. But it often requires real work and maybe some travel. As a society we've come to hate work that is actually useful.

Truck drivers do ok up there as well,but not as well as skilled trades. A guy I work with right now said when he worked at a mine, if "you are 18, show up to work, and can pee in a cup, you started at $18/hr".

People that bitch about no work haven't looked very hard. Oh sorry, you may have to move or make a few sacrifices? I missed the memo where life was supposed to be super easy.