financing

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dreamer*65

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Hi all,

Just curious. Anybody do any water taxi/tour "freelancing" or offer yourself and your Ranger Tug (mine will be an R27) out for hire to help with monthly payments (just for a while)?

I'm hoping to commit myself to an R27 in a year or two, maybe work another year (college prof--we have summers off, but don't get paid for the time off either), and maybe hang on to my little house (paid off soon). Eventually, I want to make the tug my home after full retirement for as many years as possible (which is another question I have but will save for another post).

Anyway, there are many water taxi/tour operators along the south coast of Lake Superior here and was wondering if any Tugnuts had any experience with hiring out their tugs (and its captain!) for some part-time taxi/tour work during the summers. I look forward to any advice regarding this idea.

Best,
Dreamer*65
 
Lake Superior is internationally navigable water so USCG rules apply.
You will need a 6 pack (license, not brew) and adequate liability insurance (not cheap)
Also USCG requirements for equipment, required signs, etc.
Certainly can be done as they are all over Florida offering boat tours, fishing, what have you.
But the fare is not cheap which tells me their overhead is not low.
Then there is the issue of a Michigan business license
a DBA license
A separate business bank account
you will of course have to estimate your annual income and pay the federal tax on that amount quarterly before you actually earn it
and sundry other complications depending on the county (business license)
township (business license)
village ( just plain bribes)
And I expect your lender will have strong opinions on offering public carriage on "their" boat
you are allowed to faint about now :mrgreen:
 
You can always ask around your colleagues and offer trips for the day with a lunch.. If they happen to donate to your expenses on their own I do not think you are breaking any laws..
 
From Boatsafe.com "If you are a recreational boater, you are allowed to share expenses for a day on the water. Just don’t make payment mandatory if someone wants a boat ride." You will then be required to be USCG licensed and deal with everything Levitation stated.
 
It will change your perspective on recreational boating. Yes, you will have to have the 6-pac license (at a minimum) if you accept payment. There will be more requirements on equipment, even on an "uninspected vessel" (the 6-pac license is for an OUPV - Operator of an Uninspected Passenger Vessel). Your insurance will increase - greatly. You are now responsible for the lives of those 6 (maximum) people on your boat (consider that liability). You will be on their schedule - and that really changes the perspective. There will be people who schedule and don't show up. There will be people who pay for it, then want their money back because: it is too windy... cloudy... too cold... too hot... I didn't know my husband gets seasick. There will be people who show up with muddy shoes, high heels, their wet dog, their screaming baby. Some will be tipsy. Or, insist on smoking. It may be an "uninspected passenger vessel," but that doesn't mean you won't be stopped by the Coast Guard to make sure you have the required equipment and license onboard.

I have a USCG Master license. I sold my C-Dory after years of driving commercial excursion boats. No way would I want to deal with the public on my own small boat. Especially, if that boat was also my home. What you could possibly make "freelancing" will not likely offset the additional costs... you're either a business... or not. Would a Ranger 27 be a good (small) commercial boat? Not ideal for carrying passengers but it would work.

At some point, I think many boat owners consider this same possibility. It sounds like you could pick up some extra cash... it would be fun being the "tour director"... you get to spend even more time on the water. And then the reality sets in... you have to advertise, you have to be available during regular business hours to take calls, answer questions, and book seats.

As a business owner most of my adult life, I know the "business" has to pay its way and put money in your pocket. After I sold our boat, my boss (I am a retired guy - the boat jobs are our "fun summer jobs") asked me, "When are you going to buy another boat?"

I told him, "I get more than enough time on the water on your boats. When I go to the fuel dock, I put in $500 worth of diesel and hand the receipt to your bookkeeper. When something breaks on the boat, I say, 'You need to get that fixed.' For right now, I am just fine operating OPBs." (Other People's Boats)

Buy the 27. Enjoy the 27. Cruise or tow to some great areas. Get the required sea time; get the license; work on boats for someone else for a while before you think about doing it with your nice boat. Then decide if you still think this is a good idea.
 
Thanks all,

My curiosity has been satisfied. Thanks for saving me from myself! I like the "just get my tug and enjoy it" idea. I'll pursue that.

Now, what about this: Has anyone lived on their Ranger Tug (R27) during the winter?! A northern Michigan winter? I read something about winterizing it and being able to keep it in the marina using "aerators?" Or stored on hard ground, and living aboard during the winter?

Please don't think me crazy--just curious, that's all 🙂
 
I think your name implies something. A winter on the boat in Michigan may be more of a nightmare than a dream. Head south young man. :lol:
 
We lived aboard a sailboat for seven years. When in the yard we stayed on the boat too. And have spent a few nights aboard the Ranger and other boats on trailers. Living aboard in the water is certainly more comfortable than on the hard. Especially when it gets cold. Counter intuitive but in northern climates water is warmer than air. Standing over a bilge that is sub-freezing temperatures is darn cold. Plus getting on/off the boat multiple times a day, day-in/day-out is a PITA. And not so safe in snow/ice. But many marinas when winterized are less than ideal for liveaboards. Water shut down on docks, pumpout facilities out of service, restrooms/showers locked up, etc. Finding someplace in your area that 1) allows living aboard and 2) doesn't shut down in winter and 3) doesn't ice up too much (bubblers can only do so much) might be a challenge.

We were talking last trip out and agreed that our Ranger 25 is more liveable than the boat we lived on. So what you're considering is doable. But it is not easy nor convenient. It is definitely a lifestyle choice that requires the right frame of mind. Flexible, innovative, compromising, minimalist are all words that quickly come to mind when I think about living on a boat. Though if adequately equipped, boats do qualify for home mortgage interest tax deduction...

Man you've got it bad 😀
 
Yes, I've got it bad--but all of you have been a wonderful support group!🙂

I'm just really trying to explore and get advice about all sorts of tug things. Yes, I do like the advice of "go south young man!"

I have to admit that I'm not the young man I used to be, but just for fun, I have to tell you all that I lived for almost 7 winters in a 16' x 14' wall tent in a remote mountain range just east of the village of Unalakleet, AK. It was my 30-ish old year brain in this mid-60s year old body that recently went thinking, "Hey, what the heck, winters on board my R27, piece of cake . . ."

But why? I'm looking to retire, to smooth it, not rough it! Well, anyways, thanks all. I hope to maybe run into a couple of you Tugnuts on the trail sometime in the future.

I'm still at that purchase/financing/affording anxiety point but know that I can actually do it, but just need to keep talking to/hearing from a bunch of Tugnuts.

Best. . . . .
 
If you're going to be retired and flexible in your location, doing the Great Loop would be my suggestion. Home waters in the summer, then head down the Illinois, Mississippi, and Tennessee rivers to the Gulf of Mexico for the winter. Up the East Coast to the Erie Canal and back home in the spring. Next fall start again.
 
We live full time on our R29 .. This will be our third winter.. One was in the keys .. Last winter was in Victoria and this winter back to Florida... We have slept on the boat on the trailer in the winter when the temperature out side was near 0 F and with our diesel heater it was fine.. I could see lots of challenges in the winter in the water with snow and freezing . But lots do it in pretty small boats. Having a trailer and heading south is the best for us so far.. But follow your dreams do it and see if you like it what ever it is.. Life is short and you should have lots of adventures ..
Good luck and keep us all posted what you do.. Soon you will be helping us with your experience on your 27 🙂
 
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