Rusty and Ultra

[Singleton]

This just gets more crazy. How is this even possible now? Aren't they looking for him?

I believe he has been served a few civil lawsuits. Criminal charges I am not sure about.

 

[liv4riv]

I believe he has been served a few civil lawsuits. Criminal charges I am not sure about.

free boat if you sign for the bail bond

 

[Sportin' Wood]

Is it that hard to make money in the boat building industry that people need to commit fraud, or does the boat building industry just attract a certain type of person?

 

[counterpart7]

Dang!! View attachment 1412830

I just wonder who’s boat and who’s garage that is?

 

[RiverDave]

Is it that hard to make money in the boat building industry that people need to commit fraud, or does the boat building industry just attract a certain type of person?

Yes..

 

[DWC]

Is it that hard to make money in the boat building industry that people need to commit fraud, or does the boat building industry just attract a certain type of person?

Gotta be a tough business. Not sure what the break even is but i can’t imagine there’s enough in it to be someone’s primary income.

 

[wzuber]

Is it that hard to make money in the boat building industry that people need to commit fraud, or does the boat building industry just attract a certain type of person?

like any business...it's a significant challenge and a few bad choices can have a drastic effect on a business. As I'm certain you know capitalization and cash flow is critical to a business's success. It's clear this guy has some good skills and working knowledge of how to put together a good boat and quality finish. So what's the difference between this guy and other successful boat builders in the industry? I would say by the looks of things..... attitude...... and a rather negative one at that. This guy is clearly on a serious mission to destroy his reputation in the industry and his life in general. It wouldn't surprise me if he has a alcohol and drug problem as well which feeds into the attitude statement. He won't stop until he's forced to legally most likely which means jail which he clearly has earned and deserves along with a serious beat down. Some people are alive simply because it's illegal to kill them. lol And I'd bet a few of his victims have entertained that thought at some moment in time. haha
But hey....look at all the free press he's getting outa this. hahaha

 

[Smupser]

Gotta be a tough business. Not sure what the break even is but i can’t imagine there’s enough in it to be someone’s primary income.

It’s why there’s not a lot of smaller (sub 24 ft.) boat builders, hardly any money in it

 

[Sportin' Wood]

I was sitting in the bar at the Elks club a few weeks ago drinking an NA beer with fellow member who is a retired HVAC contractor from the Palm Springs area. We often gravitate toward discussions on business. He is about 15 years older than me, but we get along well. He knows what I do, and I've shared how I screwed up pretty good with my plumbing construction business in 2007.

We set out to identify the requirements for a successful business during one afternoon at the bar. These are the universal requirements we felt needed. You might get along if you are missing one, but if you are missing two you will likely fail if you don't obtain the missing trait, or secure the missing trait quickly. In no particular order.

• Expertise
• Accounting
• Sales
• Leadership
• Money
• Network/supply chain

It seems like many small businesses believe Expertise is enough. I know I was naive as a young man and thought just being really good at my craft was enough. I was delusional. I sucked at pretty much all of them, but because money was easy and there was lots of work in the 2000's I survived well until the music stopped. Than I shit the bed and had to pay for my ignorance. It was a miserable lesson to learn.

In the corporate world you get skilled people that are pretty damn good at what they do; a small business owner who is a master (or even performs marginally) at each of these is special. Someone looking for a high value product should take some ownership in the process. We should not forget that people willingly participated in the transaction. It blows my mind that people would wait years for a boat. Or a UTV

You might add Luck to that list or Timing.

 

[Done-it-again]

Is it that hard to make money in the boat building industry that people need to commit fraud, or does the boat building industry just attract a certain type of person?

I'm not 100% sure in this case, but from others I knew in the contractor business there is always a substance abuse issue in play that makes this situation similar.

 

[NicPaus]

Is it that hard to make money in the boat building industry that people need to commit fraud, or does the boat building industry just attract a certain type of person?

When I talked to the guys that actually laid up my Ultra a few years ago. They said the owner at the time lived above puddingstone and was big into coccaine at the time. At least my hard earned money went to Blow and possibly Hookers. Money well spent except I wasn't doing the Hookers or the Blow.


I ran into them at the Cobra BBQ. They are still laying up boats and buffing gelcoat. There is definitely money being made in the boat business at the current prices. But several of the big manufacturers have silent partners that take half the profit. Just like any business it takes money to make money. And if they had a few million they wouldn't need the silent partners and would be making a lot more $$.

If I had a few million to work with right now I could be killing it in my line of work. That's why I have been working late everyday stacking capital. Opportunities are a plenty but I need the funds.

 

[NicPaus]

I would add Motivation-Work Ethic or Drive to your list @Sportin' Wood . Majority I know these days lack that in business. Got to be a Hustler as well. It's not easy but it's not rocket science either. So much opportunity in the Construction industry right now.

 

[evantwheeler]

If I had a few million to work with right now I could be killing it in my line of work. That's why I have been working late everyday stacking capital. Opportunities are a plenty but I need the funds.

What current problem would the capital solve? (this is not a smart ass question) Can you buy more time? (that's a smartass question ) Would you increase wages to increase employee retention? Are your clients not paying in a timely manner requiring a line of credit for operating capital?

Most people/businesses I am around complain of the lack of labor force as to the reasons why they cannot take on more work. I can see lack of capital being an issue on larger projects where your bonding capacity has to be such and such to qualify for the size of your bid/contract.

I'm not a business owner, and just generally curious here, not trying to goad you at all.

 

[NicPaus]

What current problem would the capital solve? (this is not a smart ass question) Can you buy more time? (that's a smartass question ) Would you increase wages to increase employee retention? Are your clients not paying in a timely manner requiring a line of credit for operating capital?

Most people/businesses I am around complain of the lack of labor force as to the reasons why they cannot take on more work. I can see lack of capital being an issue on larger projects where your bonding capacity has to be such and such to qualify for the size of your bid/contract.

I'm not a business owner, and just generally curious here, not trying to goad you at all.

I need a million to develop a property. I have another property just like that 1 I have the opportunity to buy. But it needs to be a cash purchase

I have plenty of capital for my construction business part of running jobs and not needing the checks right away. I am good there.

I might buy out another business. But then I definitely need a big shop and office. I got the buy out covered and the funds for 2 extra vehicles needed.

I could use a building and office. Was in escrow on 1 and the seller was going to carry the note. Now a family member joined the picture and wants cash no owner carry. So if I had another million I could buy it and expand. I could rent but paying 4k + a month is not what I want to do.

Good labor is definitely hard to find. And 1 of the biggest hurdles when it comes to expanding.

 

[evantwheeler]

I need a million to develop a property. I have another property just like that 1 I have the opportunity to buy. But it needs to be a cash purchase

I have plenty of capital for my construction business part of running jobs and not needing the checks right away. I am good there.

I might buy out another business. But then I definitely need a big shop and office. I got the buy out covered and the funds for 2 extra vehicles needed.

I could use a building and office. Was in escrow on 1 and the seller was going to carry the note. Now a family member joined the picture and wants cash no owner carry. So if I had another million I could buy it and expand. I could rent but paying 4k + a month is not what I want to do.

Good labor is definitely hard to find. And 1 of the biggest hurdles when it comes to expanding.

All make total sense. Congrats on all the hard work turning into success.

 

[Done-it-again]

I need a million to develop a property. I have another property just like that 1 I have the opportunity to buy. But it needs to be a cash purchase

I have plenty of capital for my construction business part of running jobs and not needing the checks right away. I am good there.

I might buy out another business. But then I definitely need a big shop and office. I got the buy out covered and the funds for 2 extra vehicles needed.

I could use a building and office. Was in escrow on 1 and the seller was going to carry the note. Now a family member joined the picture and wants cash no owner carry. So if I had another million I could buy it and expand. I could rent but paying 4k + a month is not what I want to do.

Good labor is definitely hard to find. And 1 of the biggest hurdles when it comes to expanding.

Only if i can save 20k month and have no building.....So nice.

Where do you store all your equipment/trucks?

 

[NicPaus]

Only if i can save 20k month and have no building.....So nice.

Where do you store all your equipment/trucks?

My old house is a 12k sq ft lot. I have a 2 car garage there also. My lot is 10k sq ft. Both properties are to be built status working on permits. I have my skidsteer and majority of the attachments at a new ground up house I am building for my HVAC contractor along with scaffolding. I park 2 trucks behind the gate with 2 German Shepherds at old house. 2 trucks behind my gate at my house with 1. And the new project house thanks to gottaminute has 1 of my trucks and 1 of my guys. Have a addition job and that garage is full of tools and supplies. Have another ground up getting permits today at 245 hopefully and skidsteer will move there with a few stops on the way.

 

[bonesfab]

Is it that hard to make money in the boat building industry that people need to commit fraud, or does the boat building industry just attract a certain type of person?

Same thing in the hot rod and off road industries. Talented people that can't run a business or balance a check book.

 

[Sportin' Wood]

I would add Motivation-Work Ethic or Drive to your list @Sportin' Wood . Majority I know these days lack that in business. Got to be a Hustler as well. It's not easy but it's not rocket science either. So much opportunity in the Construction industry right now.

HUSTLE is a great addition, I'll bring that up with my Elk buddy. He will like that one. Thanks for adding to the list.

 

[Sportin' Wood]

Same thing in the hot rod and off road industries. Talented people that can't run a business or balance a check book.

I know a guy who builds Ultra4 race cars. He has been in the game since the beginning. He builds amazing stuff that wins races. He seems to struggle with the business part. I would not buy a new car from him, but used on the open market? Yes. That is what I find fascinating about the west coast performance boat industry. The whole commercial structure. New vs used? I think some of the owners make more money funding a new boat and selling it after a year than the builders when you pencil it all out.

 

[Singleton]

I know a guy who builds Ultra4 race cars. He has been in the game since the beginning. He builds amazing stuff that wins races. He seems to struggle with the business part. I would not buy a new car from him, but used on the open market? Yes. That is what I find fascinating about the west coast performance boat industry. The whole commercial structure. New vs used? I think some of the owners make more money funding a new boat and selling it after a year than the builders when you pencil it all out.

MFG’s make money, but the profit margins are getting smaller.
The issue, is the huge cash layout required for each build.
Merc no longer allows you to buy engines/drives on credit. Everything has to be paid in full before shipment.

Then most ‘artist types’ are not good with the finance part. Ultra under JW was successful, because his wife was focused on the business while JW focused on design/art etc. Plus interior, rigging, fabrication (gel, etc), we’re actually different businesses.

 

[Smupser]

I think some of the owners make more money funding a new boat and selling it after a year than the builders when you pencil it all out.

I think you’re right. It’s almost like paying cash for a house, letting the market appreciate, and cashing out

 

[Sportin' Wood]

MFG’s make money, but the profit margins are getting smaller.
The issue, is the huge cash layout required for each build.
Merc no longer allows you to buy engines/drives on credit. Everything has to be paid in full before shipment.

Then most ‘artist types’ are not good with the finance part. Ultra under JW was successful, because his wife was focused on the business while JW focused on design/art etc. Plus interior, rigging, fabrication (gel, etc), we’re actually different businesses.

Do they make profit, or cashflow? It seems like they get into a pickle in a downturn because they don't make profit.

My guess is that many smaller builders make wages.

 

[Singleton]

Do they make profit, or cashflow? It seems like they get into a pickle in a downturn because they don't make profit.

My guess is that many smaller builders make wages.

IMO, that is a fair statement. Most builder make cashflow.

 

[Done-it-again]

Do they make profit, or cashflow? It seems like they get into a pickle in a downturn because they don't make profit.

My guess is that many smaller builders make wages.

who are you considering a small builder?

 

[Sportin' Wood]

who are you considering a small builder?

No particular company. But since this is an Ultra thread.

 

[Done-it-again]

No particular company. But since this is an Ultra thread.

Don't think you can call "Ultra" a boat company... or compare other west coast builders to them.

 

[Sportin' Wood]

Don't think you can call "Ultra" a boat company... or compare other west coast builders to them.

I have no idea about the current size, sales or operations of west coast boat builders. My perception is that Ultra manufactures boats. Is that incorrect? I bet there are others also feeling the pinch right now, so substitute as appropriate. Not all companies are the same. see my previous post on success traits. I think a couple have those locked down.

My comment was a generalization. It could be applied to just about any small business.

 

[Jefftowz]

The was on FB this morning. The saga continues.

 

[JFMFG]

Here we go again lol

 

[ChrisV]

On today’s episode of “nothing will happen. “

 

[Slick]

She still can’t spell

 

[Gelcoater]

She still can’t spell

Where’s @rrrr

 

[Rayson1971]

Just a little punctuation. Lol

 

[Gelcoater]

Just a little punctuation. Lol

And Eric’s we’re....

 

[Rayson1971]

And warabouts.

 

[Backlash]

Where’s @rrrr

Prolly in the other thread.

 

[OCMerrill]

I would add Motivation-Work Ethic or Drive to your list @Sportin' Wood . Majority I know these days lack that in business. Got to be a Hustler as well. It's not easy but it's not rocket science either. So much opportunity in the Construction industry right now.

Grit...tireless Grit nonetheless.