Invest $300,000 In A Slightly Used Oil Tanker - Creating A Floating Hotel
By Martin Thomas
Have you ever wondered what a slightly used oil tanker may be worth? You will be amazed to discover that there is a thriving market for used barges and oil tankers. You can Google "buy used ship" and see for yourself. These vessels are so inexpensive for what they are. This article explores one idea that can be done with a used oil tanker.
When governments and large corporations have finished with an oil tanker because its sea worthiness is under question and the cost to restore it is prohibitive, they decide to sell it. There are many brokers that deal in these vessels and you will be surprised how little you can pay for one of these behemoths of the sea if you made a low offer.
To the entity that is selling the ship, the thing is a liability and they will be glad to do a deal and close the books on the boat. Many tankers are bought for less than the cost of their value in scrap metal, which is around $10,000
India has hundreds of these tankers bought and shored on the beach. Thousands of laborers toil to remove all items of value for the owner and systematically extract the retail value of the metal. The engines are often still good and these are sold off in the secondary market to other operators.
Finding a good oil tanker is not hard and a high value use for one would be to rehab it and create an off shore motel near a capital city. Because you wont be using it to travel, you don't need to get the International Marine Safety certificate. Once delivered to its new permanent moorings, it will never travel to see again.
Mooring costs are not cheap, especially close to a Capital city, but you can view the boat as a lot of land. If you paid say $50,000 for it and got a great deal, this boat really represents 10,000 square meters of commercial real estate, so in real terms if you compare the boat to buying a building in a capital city, you are doing exceptionally well.
Investing around $200,000 to fit it out properly with a kitchen and maybe a few night clubs on the upper levels with motel suites on top, you could really have an incredible investment. The novelty of a floating hotel cannot be under estimated and it will impress not just patrons. You could put up your finished floating hotel immediately on the market for triple what it cost you and I am certain there will be entrepreneurs that will be interested in your creation!
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