Boat Loan Redux

I am making a second attempt on a boat loan. Looks like I can get a loan on everything minus the freight to get my j70 from Rhode Island to California. This time, around I am using a marine finance company.

J70s are custom boats. Normal banks like to “kick the tires” first before they give you a loan. I am currently working with Seacoast. The mortgage broker actually knows what she is doing. It is pleasant after being lead around for a month by the other bank.

Last time, the application process was basically signed your name, let them do a FICO check. This time, the application was more like refinancing your home. I had to provide a lot of documentation: W2, last 2 years of taxes, copy of bank statements. The banks are not taking chances with me.

Ordered trailer for j70 today

I ordered the trailer for my j70 today. Looks like I have a trailer without a boat.

Got a call this morning that the trailer maker needed their money today. The Trailer is $3,000 before the extras. Plus, California expects this type of trailer to have brakes ($600) and wants their pound of flesh (sales tax). It all adds up.

Why do I need a trailer before the fiberglass even molded? First, it needs to be built, second, the trailer is shipped to the manufacturer. The boat builder will put my shiny new j70 on the trailer before the boat is shipped across the country sometime early June.

Lost Boat Loan

Well, this just blows. Got a call from the bank that I thought I had a loan from. Three weeks later, I found out they will not do a boat loan without the physical boat in possession. The issue with j70s is that they are made to order. I am not sure if it is the case, but the perception that I have is that the bank just did a bait and switch with me. What the loan officer offered was a home equity loan 3.69%. With the Bush/Obama economy, why would I want to secure a boat with real estate?

My choice in the bank originally for the boat loan was based on the premise that I wanted to drive down to the bank and talk to someone. There is value in being able to talk to someone face to face.

My quest for a j70 still continues. Just that I will restart researching other lenders.

Time to start shopping around.

Update: Actually learn something later. What I am asking for is what is called a construction loan. Most banks do not do construction loans. I wished that someone had explained that to me three weeks ago. Essentially, what this means is that I have to front the money till the boat is built then get the loan. What a pain.

Chicken and Egg Boat Loan

Talked to my banker today. The issue with boat loans through a bank is that regular banks rarely deal with custom boats. The new j70 that I am purchasing does not even exist right now. If you thought like a banker, wouldn’t you want to have an existing tangible boat that you can put a lean on? The boat builder, on the other hand, does not want to build a boat before they get some “I am serious about buying the boat” money. I am not completely happy with the situation right now, but hey, what can I do?

Looks like I may have to self-finance the boat till the boat comes in or part of it.

If I had to do this all over again, I might just go through a Yacht financing firm that only specializes doing boats loans to lower my frustration level.

Rebuilding the Blog

Rebuilding the Blog.

Well, I have decided on a blog name. Using my name is real original. However, it was suggested by these two posts that one should actually use your own name for the domain name. You can read them here:

I think I can live with this domain name. I think I may have gotten over my need to be a lurker on the internet. I think I want to graduate finally from being a wannabe blogger to a real one.

I still need to move over some of the old content that I had. Some of the posts are good, some posts desperately need to go through a spell and grammar checker.

The Quest for a Healthy BMI

I let myself go to pot starting in my last semester of my MBA. All I cared about was to finish the class with an excellent grade. Afterwards, the letdown did not help. I put on at least 25 pounds.

Yes, I know that BMI is a flawed system. However, it is a good estimate for average people. I am not going to allow the flaw in the system to be my excuse.

This year, it is finally all or nothing. My goal weight is 174 pounds. I decided to choose a number that was between health and overweight, then round down.

Some of the reason:

I want to feel good about myself.

This extra luggage is hard on my joints. I do not want to be an arthritic person when I get old.

I like being athletic. I feel that I need to be around 200 pounds before I can safely let myself go out.

I do not want to get diabetes or cardiovascular disease. If you want a scare, check out http://www.nhlbi.nih.gov/files/docs/guidelines/ob_gdlns.pdf. Especially Table ES-4.

Suzy Kat

Suzy Kat

This is Suzy. She came to my yard about 3 months ago abandoned and extremely emaciated. Probably is the sweetest cat around. I believe that she is the current Baroness of the yard. She does not do it by force, but by ignoring the boys and does not wander around.

I need to take her to the vet. I hope that she is not chipped. The last cat I took to the vet was chipped, but the previous owner did not care enough to keep their information up to date with HomeAgain Pet Rescue. I am concerned about going to the vet because she may also have a chip, and the previous owners may want to take her away.

Happy Independence Day

Happy 4th. I read this over at Zero Hedge. It worth re-posting it here.

*However, there should be hope...* As*STA Wealth Management's Lance Roberts notes,* as you celebrate the 4th of July with your family and friends, it is vitally important to remember exactly what we are supposed to celebrating. The following excerpts are from the Independence Day speech given by *John Fitzgerald Kennedy *(then just a candidate for Congress) on July 4, 1946. I encourage you to read the speech in its entirety.

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Process and the art of procrastination

One of the things that I enjoy studying is process. It is the study of how you do things. I like studying how someone else does it, then either improve or incorporate it into how I do things.

The problem with that is the fact that one can waste so much time learning how to be efficient or learning what is best practices is. When push comes to shove, it really is the Yoda saying of either “do or do not.”

Earlier this year, I had promised myself that I would keep an academic blog and a personal blog. Blogging for me is not about idea or verbiage, it is about finding the time and or just doing it.

My latest form of procrastination so I would not have to write a blog entry was whether to use Markdown or reStructuredText. Both are good languages, the issue is which one would be better to become better at going forward. Markdown is actually much easier. Restructured Text allows me to add code to the post. I only really have time to master one.

However, it really does not matter since I write all my posts first in Microsoft Word. This is the reason: Microsoft word is my word processor of choice.

Why Microsoft Word? Well, it is not for the lack of trying other products that are either cloud or PC based. Most word processors are lacking when it come to academic writing. Plus, I can use Grammarly directly. I tend to not embarrass myself as much in writing as much. Win all the way around.

What does Microsoft Word have to do with blogging, process, reStructuredText, and Markdown? Absolutely nothing. I am worrying over nothing when it comes down to using the two document formatting languages. I usually write posts in Word, then use pandoc to convert the Word document to reStructuredText which is used by the static blogging software that I currently use. My worries about what to use were nothing more than procrastination.

This blog post can be defined as procrastination on top of procrastination. I should be reading the chapter titled: “Foreign Direct Investment” for my “Competing in a Global Environment” class.