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Old 02-09-2018, 01:27 PM   #1
Bob Ballew
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Newport Beach Boat Auction

Friday, Feb. 16th..viewing 8 am; auction at 9. Cash only....located at the Harbor Patrol/Sheriff's landing at 1901 Bayside Drive.
..There are 9 nine foot to fourteen foot kayaks, various rowboats, several powerboats, some sailboats, nine stand up paddleboards and 2 twelve foot inflatables...I am looking at the 20' Duffy wine tasting boat up for dibs..
...Tips: don't bid until the last few bids, otherwise, you are just helping drive up the prices...try to get one early on.. as the stock diminishes, people tend to bid higher on the remaining objects...some auctions are great deals with fewer bidders and others overbid on junk...the nature of human psychology..
...Last auction I watched a nice 42' Californian twin diesel powerboat go for $15,000...a heck of a deal if you had a slip available...The Long Beach auction had a decent 36' commercial style trawler go for $1....good deals are there for patient investors who have the time to attend these events...me?.. Yesterday, I attended an estate sale and bought $300 worth of fishing and boating gear for $110...$40 marlin lures were $5....$30 Aftco fishing shirts went for $4 each...Then, there is the panoramic view waterfront home and 40' power boat they will be selling shortly as part of the estate....wife says she likes our home and is staying put....
....Last week, I bought a like-new 2016 Hyundai Sonata at auction for $7,600, about $5,000 under Kelly bluebook...It runs great. The best part is that auctions give me an excuse to head to the waterfront, whether I buy anything or not... retirement has some benefits after all...
...Then, again, there is my lovely wife demanding to know when I intend to sell the 4 inflatables, 3 outboards and 3 kayaks clogging up our back yard?...."Soon, I tell her, soon".......

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Old 02-09-2018, 02:03 PM   #2
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Re: Newport Beach Boat Auction

"$30 Aftco fishing shirts went for $4 each..."

What the hell?
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Old 02-09-2018, 03:34 PM   #3
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Re: Newport Beach Boat Auction

Quote:
Originally Posted by Bob Ballew View Post
Friday, Feb. 16th..viewing 8 am; auction at 9. Cash only....located at the Harbor Patrol/Sheriff's landing at 1901 Bayside Drive.
..There are 9 nine foot to fourteen foot kayaks, various rowboats, several powerboats, some sailboats, nine stand up paddleboards and 2 twelve foot inflatables...I am looking at the 20' Duffy wine tasting boat up for dibs..
...Tips: don't bid until the last few bids, otherwise, you are just helping drive up the prices...try to get one early on.. as the stock diminishes, people tend to bid higher on the remaining objects...some auctions are great deals with fewer bidders and others overbid on junk...the nature of human psychology..
...Last auction I watched a nice 42' Californian twin diesel powerboat go for $15,000...a heck of a deal if you had e a slip available...The Long Beach auction had a decent 36" commercial style trawler go for $1....good deals are there for patient investors who have the time to attend these events...me?.. Yesterday, I attended an estate sale and bought $300 worth of fishing and boating gear for $110...$40 marlin lures were $5....$30 Aftco fishing shirts went for $4 each...Then, there is the panoramic view waterfront home and 40' power boat they will be selling shortly as part of the estate....wife says she likes our home and is staying put....
....Last week, I bought a like-new 2016 Hyundai Sonata at auction for $7,600, about $5,000 under Kelly bluebook...It runs great. The best part is that auctions give me an excuse to head to the waterfront, whether I buy anything or not... retirement has some benefits after all...
...Then, again, there is my lovely wife demanding to know when I intend to sell the 4 inflatables, 3 outboards and 3 kayaks clogging up our back yard?...."Soon, I tell her, soon".......
Was that on Humbo;t Island with a 48' Uniflight in front? If it was you bought my dads stuff.
I am selling the Poco Loco for $114K, F'n bargain and a half.
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Old 02-09-2018, 03:35 PM   #4
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Re: Newport Beach Boat Auction

And the house is going up on the 10th of next month for 3,999.000.00.
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Old 02-09-2018, 05:23 PM   #5
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Re: Newport Beach Boat Auction

I am sorry to hear it was your dad...He was quite a fisherman..I spent a half hour just looking at all the trophies he won! A pen holder with a glass etched marlin on it is now proudly decorating my desk. I have read articles about the "Poco Loco" and the Avalon Tuna Club fishing tournaments. That is one club I would liked to join just to listen to old school tales!....
..Some of his fishing lures will be put to good use this summer on marlin and returning tuna!! Wish I could hand you a check for the "Poco Loco"...Wife says our "poor man's" 25' Parker with 200 hp engines will have to do for now, especially if I keep going to estate sales and auctions.....

My biggest fear in life is that my wife will have a garage sale while I am gone and sell everything for what I told her I paid for it.......
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Old 02-09-2018, 05:44 PM   #6
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Re: Newport Beach Boat Auction

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Originally Posted by Bob Ballew View Post
I am sorry to hear it was your dad...He was quite a fisherman..I spent a half hour just looking at all the trophies he won! A pen holder with a glass etched marlin on it is now proudly decorating my desk. I have read articles about the "Poco Loco" and the Avalon Tuna Club fishing tournaments. That is one club I would liked to join just to listen to old school tales!....
..Some of his fishing lures will be put to good use this summer on marlin and returning tuna!! Wish I could hand you a check for the "Poco Loco"...Wife says our "poor man's" 25' Parker with 200 hp engines will have to do for now, especially if I keep going to estate sales and auctions.....

My biggest fear in life is that my wife will have a garage sale while I am gone and sell everything for what I told her I paid for it.......
I am glad a true waterman got them. Yep end of an era.
But I am still pressing on with the Neptunes as I was always more of a diver than a fisherman even though I grew up fishing with my dad and mom.
If you are looking for more lures or rods and reels I have quite a few I will be selling too.
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Old 02-09-2018, 09:46 PM   #7
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Re: Newport Beach Boat Auction

From your posted resume, I see that like me, you found out it is easy to get elected to Neptune boards and hard to get "un-elected"... Taking wifey-poo to the last day of the estate sale tomorrow early..."Just to see if she can find a bargain and also enjoy the great water view".....and, should she fall in love with "Poco Loco"................. Now, about those rods and reels??

I should write a book on, "How to Live Rich by Spending Poor".....it starts by teaching yourself everything you can learn about real estate investing and buying some apartment units or, single family homes to generate cash flow.....It takes hard work (I bought fixer-upper homes in good neighborhoods) but, over a period of years, you youngsters will be able to retire early if you are willing to learn and do, rather than just talk about it......Ninety-five percent of people who spend lots of bucks to take the huckster real estate classes never do anything with the information....In California, knowledge is truly worth gold....Next, you have to learn about how to keep what you earn (via tax writeoffs) to keep Uncle Sam and Jerry Brown from taking all the silver out of your pockets, the gold out of your teeth and the lead out of your butt.....all the info is free in booklets from the local IRS office or find a good CPA accountant to guide you.

There you have it, the road to riches via The king's Highway (also, known as highway 101)....

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Old 02-10-2018, 02:30 PM   #8
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Re: Newport Beach Boat Auction

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I should write a book on, "How to Live Rich by Spending Poor".....it starts by teaching yourself everything you can learn about real estate investing and buying some apartment units or, single family homes to generate cash flow.....It takes hard work (I bought fixer-upper homes in good neighborhoods) but, over a period of years, you youngsters will be able to retire early if you are willing to learn and do, rather than just talk about it......Ninety-five percent of people who spend lots of bucks to take the huckster real estate classes never do anything with the information....In California, knowledge is truly worth gold....Next, you have to learn about how to keep what you earn (via tax writeoffs) to keep Uncle Sam and Jerry Brown from taking all the silver out of your pockets, the gold out of your teeth and the lead out of your butt.....all the info is free in booklets from the local IRS office or find a good CPA accountant to guide you.

There you have it, the road to riches via The king's Highway (also, known as highway 101)....
This is becoming a great thread!
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Old 02-10-2018, 09:04 PM   #9
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Re: Newport Beach Boat Auction

Wow....I agree! Mike
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Old 02-11-2018, 01:36 AM   #10
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Re: Newport Beach Boat Auction

OK...another tip to add $500 to $1,000 a year to your "gotta have a boat" savings account...I just received a check for over $1,000 for using a credit card all year for purchases I would make anyway...Costco membership ....issues a Visa credit card that gives money back on purchases....restaurants, gas, utilities, etc. all give a payback of up to 3 percent...I take the check to Costco, buy a few items and the balance is handed me in cash...free money! WARNING: This only works IF you pay your balance off each month like clockwork. Otherwise, the interest charged will bite you like an alligator over time. Then, the positive becomes a cash negative and your credit score will drop, resulting in a higher interest rate on any loans you apply for....It is building wealth by using my favorite "word": OPM......... Other Peoples Money

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Old 02-11-2018, 12:16 PM   #11
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Re: Newport Beach Boat Auction

I've learned a lot from Dave Ramsey and you can't build wealth using debt, sorry Bob I disagree. 1000 in free cash a year is nice but it's not building anyone wealth. Avoid credit cards and pay cash! Your real estate advice is solid though for generating a passive income.
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Old 02-11-2018, 04:00 PM   #12
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Re: Newport Beach Boat Auction

...I completely understand Hex's thinking process, as our parents (from a different era) taught us that concept (go to college, work hard, pay all cash to avoid debt, pay off your home before retirement).... BUT, that type of thinking in today's world won't work unless you enjoy staying poor. Again, OPM.. But, if you pay your bills as they come due and avoid paying credit card interest charges, it is indeed "free money"....you are using debt you have to pay anyway (gas, utilities, etc to reconfigure the game to work in your favor..
... I strongly suggest you read, "Rich Dad, Poor Dad" by Robert Kiyosaki, as well as his other financial books..(borrow it for free at the local library)...It will demonstrate why your parent's way of thinking won't work and how to change your thinking process to fit today's financial world. I frequently use debt and various financing methods to build more wealth. Had I waited to save up the money, I would have missed many opportunities and died of old age while saving enough to take advantage of good investments that pop up as the economy goes up and down...
...Examples: I have refinanced my homes numerous times to pull out money (more debt) to buy other property (thereby leveraging a small amount to buy a property with value of a far greater amount (compounding) my return on the debt...Using equity buildup enabled me to put my son thru 4 years of college and have him graduate debt free. Some of his friends now owe $80,000 or more, in student debt that can't be erased....
...I used my Costco card to buy the like-new Hyundai I mentioned...I will get money back (profit)...the title arrived yesterday...Next, I go to the credit union with the title, refi the car for 125 percent of it's blue book value and make payments at 1.99 percent over 5 years....result: cash back on the credit card, cash from the credit union in excess of what I paid for the car and low payments...Next, I use the pulled out cash to look for another deal and later sell the car for a thousand or so more than I paid for it, including interest....result: debt gone..and a profit from driving a nice car for a year.....Had I waited to save up for the deal, I would still be waiting and driving my '98 Ford van...... It is all about learning how to leverage small amounts of OPM, into big returns before you die of old age....

71 years worth of learning summed up in two sentences: Never say, "I can't do it". Rather, say, "How can I do it"?......I better stop my ranting before I get banned from Spearboard...

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Old 02-12-2018, 12:48 AM   #13
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Re: Newport Beach Boat Auction

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I've learned a lot from Dave Ramsey and you can't build wealth using debt, sorry Bob I disagree. 1000 in free cash a year is nice but it's not building anyone wealth. Avoid credit cards and pay cash! Your real estate advice is solid though for generating a passive income.

Um, rich people leverage the F out of their money. Ramsey is for the simple folk who have a hard time figuring out how to stay afloat.

Pay off your credit card monthly = no debt and cash money from the percentage back. Bob is on point...once again.
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Old 02-12-2018, 01:20 AM   #14
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Re: Newport Beach Boat Auction

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Um, rich people leverage the F out of their money. Ramsey is for the simple folk who have a hard time figuring out how to stay afloat.

Pay off your credit card monthly = no debt and cash money from the percentage back. Bob is on point...once again.
Well, I'm pretty simple and I am not rich. I live pretty good though compared to 2 years ago, and prefer to stay debt free, but to each their own. I would rather own my stuff free and clear than owe the bank, but that's just me. I was also able to save a good amount of cash by paying myself every month. Also, I just paid for my Parker 2320 cash from money I managed to save from not owing nobody. If you like taking those risks than go ahead but unfortunately I don't have the spare coin to lose out on if something goes south. Just my opinion, I guess you and Bob are just on a way higher tax bracket than I am. Cheers
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Old 02-12-2018, 03:34 AM   #15
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Re: Newport Beach Boat Auction

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I've learned a lot from Dave Ramsey and you can't build wealth using debt, sorry Bob I disagree. 1000 in free cash a year is nice but it's not building anyone wealth. Avoid credit cards and pay cash! Your real estate advice is solid though for generating a passive income.
Dave Ramsey is the man. Yes!

I'm presuming you found him on Youtube late at night like I did.
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