One of M&M Private Lending Group’s many verticals is Private Yacht Finance. “Not for the faint at heart, meaning high interest rates BUT they 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 already embraced “boat show mode” with a flurry of pre-boat show events taking place at various locations, docks, waterways, and the main event site, attracting bustling crowds.
The show officially started on Wednesday October 30th all the way to Sunday November 3rd. They divided it into 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. Taking off from a property located in the elegant neighborhood of DeSota Drive, FL 33301. Three different charter boats were cruising guests 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.
What Was it All About?
We boarded a boat and were greeted with a breathtaking view of the event from the water. After arriving at the purple zone, we mingled among the vendors showcasing luxury fishing boat brands such as Buddy Davis and Blackfin, as well as well-known cruising and sailing brands such as San Lorenzo, Mangusta, Azimut, and Sunseeker.
Later, we took a water taxi to the Superyacht Village, a new and exclusive site that showcases the most luxurious brands in ships, cars, submarines, and helicopters. Claudia Gonzales from Nabu Design, who was part of our team and working on interior projects for vessels and real estate, commented, “It’s a truly international venue with a great energy and atmosphere. It’s really inspiring.”
Our day at the show concluded with a Lurssen Yachts event, marking a memorable and inspiring end to the day.
Be Prepared: The Market Welcomes Buyer-Ready Deals
On Saturday, October 2nd, the show was even busier as the crowd increased over the weekend. Our team continued to tour the vessels and explore all that the show had to offer.
Owning a vessel can be a passion, but it’s important to also be financially proactive with this asset. With many resales and ongoing maintenance, updates, and improvements to consider, having cash flow from a boat offers better liquidity. There are many financial aspects that come with vessel ownership such as unexpected expenses that include repairs or upgrades. By having alternative financing options, you are better equipped to handle these costs and keep your boat in good condition. Also allowing you to be cash ready and grab the best deals on time.
To conclude our experience at the show this year, we attended an event hosted by Worth Avenue Yachts brokerage. A brilliant occasion to connect with industry professionals and gain insights into the latest developments in the yacht market. After the event, we continued the night and attended another venue hosted by Yacht Chandlers. Where we encountered a wider audience and learned more about the products and services offered by Yacht Chandlers. The night was filled with interesting discussions, and we were able to make valuable connections with industry professionals. These special memories made at the show greatly enriched our experience. We walked away feeling inspired and with a deeper love for the yachting industry.