42 Fountain Lightning refiitted to be center console fishing boat - with outboards

I am currently debating on purchasing a 42' fountain lightning. It was in a storm and has some hull damage on the port side near the stern. My intention would be to refit it to be a offshore fishing boat. I can purchase it from a friend for about 3 grand. The damage is about 18' hole that sunk the boat. It was only sunk for a little.

My question is would a $30,000 budget cover a complete remodel? I own a construction company and have a warehouse where I would be doing the work. I have never performed glass work but follow these forums a lot and would be willing to put in the time. I also have a buddy that is fairly fluent with glass work.

What do you think?

I have a 28' Mako that i would get rid of if this is wise and works out for me. I would probably use that money for the engines and/or electronics.

Re: 42 Fountain Lightning refiitted to be center console fishing boat - with outboard

i do this every day......buy sunk boats and re fit them till they are new....

i suggest you re build the boat......then sell it and buy what you want.

a 42 fountain will bring lots of money....

if you can get it for 3k......you can possibly fix it for under 5k depending on weither it went down in salt or fresh.

as far as the conversion......i would not......what you will end up with is a modified specialty boat.....with little re sale value.

but if you fix it.....you could end up with 100k (depending on the year of the boat) to buy what you want.

Re: 42 Fountain Lightning refiitted to be center console fishing boat - with outboard

and depending on the damage and whether it went down in salt.......30k is waaaay short.

i just did a 30 regal with twin 305's and b3\s with a genny, air, flat screen and all the trimmings.....cost 50k....but the boat is new.

Re: 42 Fountain Lightning refiitted to be center console fishing boat - with outboard

Great. Much appreciated. Well maybe I will restore it to original and sell it. It is a 94 I think... Not sure about the engines since it was sunk. I'm guessing I would have to rebuild them.

Thanks for the advice.

Re: 42 Fountain Lightning refiitted to be center console fishing boat - with outboard

eas it sunk in salt or fresh....there is a big difference.....$$$$ wize it could run you over 40k to repair, if it went down in salt....fresh is different.....change the fluids....pull the plugs shoot the water out..replace the plugs..and flash it up.

with saly.....every electrical motor in the boat ...from the blowers to the tilt & trim and trim tab motors. to the bilge sensor (fume dectector) is toast....they all have to be rebuilt or replaced) this includes the ecm's at 3,500 a pop
lets not get into cleaning replacing each electrical connection on the boat. 42 feet is a lot of boat !