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Is boat flipping a profitable side hustle
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Do you have a place to work on the boat? Do you have the tools to work on the boat
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And then do you have the time to work on the boat? So those three things are kind of going to factor in
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on whether it's going to be profitable to you or if it is not going to be profitable
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For me, I've always had good luck, but I've always been working on boats all the time
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Like that's my main thing. My main gig is fixing boats. So I have all the tools
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I have access to the boats. I have access to the parts on the boats
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I usually had time to do it. And if you're working Monday through Friday, eight to five
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and you've only got your afternoons and the weekends, it could take six months, 12 months to do the boat
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And that makes it not profitable because let's say you get a boat for a thousand bucks
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and you put six, seven grand in it. And now the boat's worth 20
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Well, if it took you 12 months to do it and you only made an extra 10 grand, 13 grand
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it's hard to say whether that was profitable or not because it took you 12 months to do it
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You're spending your afternoons and your weekends working on it. Can you just find another job that you can work weekends
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or work in the afternoon and make 10 grand over 12 months
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You know, that's kind of where it factors into is it profitable
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Is it not profitable? Let's say you buy one for five and all you have to do is clean it up
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replace a couple of pumps and you're in it total for six, seven grand
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but now it's worth 15. Well, if it only took you three months to do it
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and you can sell it and make eight grand and you can do that four times in a year
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well, now you just made an extra 24,000 and it didn't take the same amount of time
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of consuming every minute of your time that you're not at your nine to five
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then yeah, it's going to be profitable. You just have to be very selective on what kind of boat you're doing
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and what boats you do. It's a lot easier to say no to a lot of boats
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than it is to take one on and find out later that it's not going to be a good one
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It's not going to be profitable. And that's pretty much how I did it. I just had the boats, worked on them
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and it was very profitable for me. That's actually how I bought a house
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and kind of progressed through life was by having the boats because your nine to five
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is usually not going to be that profitable as far as like growing yourself financially
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I guess you'd say. So for me, yeah, the boats was always, always the best side gig for me
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And that's pretty much why we made Boaters Academy that we have at boardingandboating.com
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and we're actually kind of changing that so it's no longer an academy. It's actually becoming a program
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and I'm actually building it out to be a bigger resource. So it's going to have more connections
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more features. There's an app to it right now where there's messaging
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So you can even message me and we're really putting more into the resources
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and making it a bigger resource on how to save money, how to do all these projects
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So if you do get yourself a boat and you want to get into flipping when it comes to rewiring the boat
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and putting all new electronics and that kind of stuff in there, there's courses, step-by-step how-tos
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that show you exactly how to do that. So if you want to check that out
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that would be a way for you to cheaply get into doing the side hustle
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of fixing and restoring boats and then selling them and potentially make yourself an extra 10
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15, 20, 30 grand a year based on how much work you want to put into it
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and the boats that you have access to. You can pretty much take it from a side gig
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to turn it into your main gig and it can definitely be profitable
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if you're into restoring boats. Now, if you enjoyed this clip, you can watch the full episode over here
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or you can watch another one over here
