One of M&M Private Lending Group’s many Private finance verticals is Private Yacht Finance. “Not for the faint at heart, meaning high interest rates BUT are able to do this with NO documentation, NO credit check and NO bank statements”. With an estimated 11 million out and 25 million in sight for yacht loans under management by the end of 2019” says Michael Internoscia, CEO. We are attending the main boat shows in Florida and getting the word out for this valuable alternative financing solution.
On Thursday October 24th we hosted a pre boat show Real Estate Networking event at Boat Yard Restaurant in Ft. Lauderdale and the city was already in “boat show mode” with many pre boat show events happening at different locations, docks, water ways as well as the main site of the event were already crowded.
The show officially started on Wednesday October 30th all the way to Sunday November 3rd. It was divided by color zones – orange, pink, purple, blue, convention center and Pier Sixty-Six Superyacht Village. It is the world’s largest boat show with over 1500 boats, more than 278,000 square meters of space spread over seven locations and over $4 billion worth of boats. A lot of security is out there, US Coast Guard and the local authorities have a big presence this year.
Our experience at the show started on Friday October 1st at an event hosted by Cervera Real Estate at a property located in the elegant neighborhood of DeSota Drive, FL 33301 with three different charter boats cruising to the show a 2018 Alen 45 listed for $745,000, a 2019 GulfStream listed for $ 2 million, and a 2019 Hinckley SportBoat 40C listed for $785,000.
We went on board and saw an enticing view of the event from the water, arriving at the purple zone and dividing from there we mingled through different vendors from luxury fishing boat brands such as Buddy Davis, Blackfin following with well-known cruising and sailing brands such as San Lorenzo, Mangusta, Azimut and Ferretti. To conclude our day at the show, we took the water taxi to arrive to the Superyacht Village, this is a newly implemented site which is an exclusive site for the most luxury brands in ships, cars, submarines & helicopters. “It’s a very international venue, great energy and atmosphere. It’s really inspiring”, commented Claudia Gonzales from Nabu Design who was also accompanying our team and working on some interior projects for vessels as well as real estate. We continued to a Lurssen Yachts event and concluded that evening.
Our experience continued on Saturday October 2nd which was a busier day at the show as the crowd gets heavier during the weekend. Our team toured some vessels and went along discovering more at the show. It’s much better to have cash out from a boat and have liquidity, there is a lot of resales and always maintenance, updates and improvements that can be done, owning a vessel can be a passion but it is always better to also be financially proactive with an asset and be prepared with alternative financing to “grab a good deal”.
To conclude our experience at the show this year we attended an event hosted by Worth Avenue Yachts brokerage and continued the night to another venue by Yacht Chandlers.