I paid $40.000 for the boat and spent around $15.000 on repairs and upgrades. If you take a loan you're going to pay around $800 a month.

In my part of the world that's pretty cheap. Might be expensive elsewhere though.

What part of the world is this? How big is the boat, and where did you find it so cheap?

I see yachts selling for over $500k...

I am seriously considering this. Can you please point me to some links? I am in NYC. Maybe I can buy a yacht somewhere else and sail it to NYC?

Do you have an e-mail? I'll mail you some links.