It also needs some wiring work, the tach doesn't work, the speedo doesn't work and some of the other gauges. They figured up to 10 hours labor to rewire it./QUOTE]
10 hours at $120/hr shop rate is $1200
Assuming there are no other issues, that the interior is fine for it's age, no rips, nothing rotten etc, what do you think this boat might be worth in it's current condition? If I could get it for around $2500USD would be a good deal? I'm having trouble finding comparables online. All I can find is a 2003 for $9k and the interior of the one I am looking it seems better than that one.
at 20 years of age, the interior is at the end of its life. seriously, look at the vinyl from Seabrook, Spradling, and others...... the stuff that was sewn into seat covers. they only guarantee 7-8 years.
I'm not 100% sure I want to get into these repairs but if I could get it for a price that was low enough that would guarantee I could flip it and get my money back if I lose interest then I might go for it.
if you pay to have the repairs done, you would need to get the boat for free. If your plan is to flip for a profit, you may want to re-think that. to make a small fortune buying and selling boats, start with a large one....... seriously, you are going to loose money as boating is a hobby.
buying a boat is a gamble. in this case, you know its taking on water, has sat for 4 years, and you seem apprehensive about doing the work yourself