What happened to cheetah boats

[Scott4593]

Best thread of 2025 so far !

 

[RiverDave]

Looks like the customer count is 9+ now. Interesting that this person is saying Jason is the stand up guy in this program..

Who knows.. that all said it sounds like quite a few people are out money, and there is probably going to have law enforcements involved soon or a minimum of lawsuits.

RD

 

[JFMFG]

Looks like the customer count is 9+ now. Interesting that this person is saying Jason is the stand up guy in this program..

Who knows.. that all said it sounds like quite a few people are out money, and there is probably going to have law enforcements involved soon or a minimum of lawsuits.

RD View attachment 1488197

Ohhh damn

 

[28Eliminator]

Where do I know that name "Jason Ullom" from???

 

[DrunkenSailor]

Turns out drywall screws are expensive... I hate this.

 

[Backlash]

Turns out drywall screws are expensive... I hate this.

They surely use coated screws....hence the increased cost.

 

[77charger]

Guy I know got his boat out and getting it finished at another shop at his own expense. Luckily he got his engine and drive but had to go through law enforcement to do so. He had the invoice for the paid parts and they are serialized.

He told me someone took it saying it was theirs since he ordered similar. I gave him shit last year when he told me it would be done in July. I just said rarely a builder gets done on time

 

[Hardly Satisfied]

When they redesigned there deck boat I thought it Was one of the nicest deck boats on the market for a reasonable priced boat

 

[throttle]

I am still a strong believer that a boat doesn't get funded by the customer or a bank until it is produced! I support a deposit.

 

[Bpracing1127]

When they redesigned there deck boat I thought it Was one of the nicest deck boats on the market for a reasonable priced boat

Same, great looking boat

 

[Englewood]

I am still a strong believe that a boat doesn't get funded by the customer or a bank until it is produced! I support a deposit.

You are right. We will not fund a boat until it is 100% complete.

 

[NicPaus]

I am still a strong believer that a boat doesn't get funded by the customer or a bank until it is produced! I support a deposit.

That brings up the price. Few builders have investors banking the builds. They get there cut.

If they had the capital. The boat builder would make a lot more.

 

[throttle]

That brings up the price. Few builders have investors banking the builds. They get there cut.

If they had the capital. The boat builder would make a lot more.

Stories of fraud like this have been in the industry for as long as I can ever recall. Along with it were stories of boat builders being left in the desert for dead.

I am no longer familiar enough to know what an "investors cut" might be, however... As the consumer, I have never given more than a 10% deposit on any boat that I had built.

Its possible or worth consideration that during busier days of building boats more "capitol" was available. And there were programs available for the builders to pay their supplier's over a 1-6 month payment plan.

All in all, at the end of the day... I would negotiate or risk paying more for the said "investors cut" before I risk loosing my cash on a boat load of promises that hasn't been built.

 

[Livewire Fabworks]

I am still a strong believer that a boat doesn't get funded by the customer or a bank until it is produced! I support a deposit.

Hallett built my entire boat with a 5k deposit. Paid for the rest when it completed. I was shocked as hell. This was back in 2017.

 

[Outdrive1]

They should come back as “Cheater Boats”

 

[ChumpChange]

I am no longer familiar enough to know what an "investors cut" might be, however... As the consumer, I have never given more than a 10% deposit on any boat that I had built.

Think of it as a Private Money lender. The investor funds the build for the builder since they don’t have the capital to build it otherwise. When the funds come from the bank, the builder gets the money and then pays the investor off. The investor cut is just the interest or percentage that he earns off of funding the build.

 

[DRYHEAT]

Think of it as a Private Money lender. The investor funds the build for the builder since they don’t have the capital to build it otherwise. When the funds come from the bank, the builder gets the money and then pays the investor off. The investor cut is just the interest or percentage that he earns off of funding the build.

So the question I have is what would be considered a reasonable amount of money that a private money lender is going to want to make. 7% 10% 3%? Boat prices are pretty high as it is.

 

[ChumpChange]

So the question I have is what would be considered a reasonable amount of money that a private money lender is going to want to make. 7% 10% 3%? Boat prices are pretty high as it is.

On a build? First, I would never do that. Second, more than that. lol

 

[throttle]

Think of it as a Private Money lender. The investor funds the build for the builder since they don’t have the capital to build it otherwise. When the funds come from the bank, the builder gets the money and then pays the investor off. The investor cut is just the interest or percentage that he earns off of funding the build.

I understood it that way, however not clear on investors percentage.

 

[throttle]

Hallett built my entire boat with a 5k deposit. Paid for the rest when it completed. I was shocked as hell. This was back in 2017.

That was the right way to do it. Doesn't matter to me where the builder gets his money from, build it and the customer buys it.

 

[throttle]

On a build? First, I would never do that. Second, more than that. lol

Smart!

 

[Livewire Fabworks]

That was the right way to do it. Doesn't matter to me where the builder gets his money from, build it and the customer buys it.

Yeah the answer I got from Jerry and Nick was if I backed out with everything I picked they would not have a problem finding a buyer.

 

[ChumpChange]

I understood it that way, however not clear on investors percentage.

Instead of charging interest I can just charge a percentage of the profit that the builder will make. That way you can call it an investors percentage. I will invest/finance the building of the boat as long as I am paid 20% of the profit of that build.

 

[lbhsbz]

Instead of charging interest I can just charge a percentage of the profit that the builder will make. That way you can call it an investors percentage. I will invest/finance the building of the boat as long as I am paid 20% of the profit of that build.

So....when the 8 balls put the profits into the negative....you pay them?

 

[bonesfab]

So....when the 8 balls put the profits into the negative....you pay them?

Got to have the 8 balls to keep the bikini models around.

 

[adam909]

So....when the 8 balls put the profits into the negative....you pay them?

Ponzi schemes work by finding more investors. The investors pay the investors that pay the investors.

 

[ChumpChange]

So....when the 8 balls put the profits into the negative....you pay them?

Depends. There are ways to secure an investment. Title. UCC1. Brass Knuckles.

Investor is just like a bank. There can be recourse. I wouldn’t do a boat as previously stated. But I do property all day long. Houses generally staying in one place.

 

[ChumpChange]

Ponzi schemes work by finding more investors. The investors pay the investors that pay the investors.

But now you’re starting to confuse investors financing the building of a boat with an investor who is investing in a business to get returns on their investment.

 

[DRYHEAT]

On a build? First, I would never do that. Second, more than that. lol

My point exactly, lot safer ways to get 5 to 10%. So I guess the new prevailing starting price for a Howard deck boat is 500 K.

 

[ChumpChange]

My point exactly, lot safer ways to get 5 to 10%. So I guess the new prevailing starting price for a Howard deck boat is 500 K.

Yeah but I can get 30% on some transactions while staying fully secured. Now is it worth it? Maybe. Even a private lender wouldn’t advance the entire project all at once so you have to look at what point money is actually outstanding on a project. Don’t fully fund it at that interest rate.

For sure they are safer ways to get 5 to 10% but there’s people making plenty more than that. Gotta understand the game though.

 

[HALLETT BOY]

Both my Hallett’s were purchased and secured a spot in line by a 5K deposit , right before the build was about to start I received a phone call confirming that I still was interested . If not they just ripped up the check . The balance was due when the boat was finished . They gave a finish date and boat was completed that day . There’s a reason Hallett boats are / were in demand .

 

[Sportin' Wood]

I don't understand the boat manufacturing industry, but I find it fascinating.

It seems more like the custom home building industry, than manufacturing industry.

Except in custom homebuilding you likely have fund controls.

I Assume they have payment stage gates, is the drive package they thing that make these builds go sideways?

 

[DRYHEAT]

I don't understand the boat manufacturing industry, but I find it fascinating.

It seems more like the custom home building industry, than manufacturing industry.

Except in custom homebuilding you likely have fund controls.

I Assume they have payment stage gates, is the drive package they thing that make these builds go sideways?

Makes me wonder if the builders have to pay for their MerCruiser engine packages on delivery? That would be a lot of cash to tie up during the 3 to 6 month bill process. I don’t know if just in time delivery works for a custom boat. “ sir your boat is complete, but MerCruiser is behind on engine packages. Can you wait another three or four months.”

 

[Sportin' Wood]

Makes me wonder if the builders have to pay for their MerCruiser engine packages on delivery? That would be a lot of cash to tie up during the 3 to 6 month bill process. I don’t know if just in time delivery works for a custom boat. “ sir your boat is complete, but MerCruiser is behind on engine packages. Can you wait another three or four months.”

My Guess (total assumption) is that the builder does not have terms on the drive package and that creates cash flow issues. they ask for upfront on the stage gates and that funds the whole build, when shit goes sideways the buyer is upside down in the build.

 

[DRYHEAT]

My Guess (total assumption) is that the builder does not have terms on the drive package and that creates cash flow issues. they ask for upfront on the stage gates and that funds the whole build, when shit goes sideways the buyer is upside down in the build.

Exactly why I think the small up-and-coming custom boat builders have such a difficult time. Two or three boats in process you could have $100,000 or more tied up sitting on the floor pretty quick. I assume the well established builders have enough retained capital to handle this.

 

[DarkHorseRacing]

So would it help if the boat builder did everything but the drive and engine so they could control their internal costs and labor only? Then refer the customer to a reputable engine shop and let them complete the build with the engine/drive and rigging there?

 

[DRYHEAT]

So would it help if the boat builder did everything but the drive and engine so they could control their internal costs and labor only? Then refer the customer to a reputable engine shop and let them complete the build with the engine/drive and rigging there?

I think that would just add another layer of complexity into an already somewhat pain in the ass process.

 

[ChumpChange]

I assume the well established builders have enough retained capital to handle this.

Retaining capital and the boating industry don’t necessarily go hand-in-hand. lol

 

[Orange Juice]

I don't understand the boat manufacturing industry, but I find it fascinating.

 

[AFTERSHOCK RACING+]

 

[Sportin' Wood]

So would it help if the boat builder did everything but the drive and engine so they could control their internal costs and labor only? Then refer the customer to a reputable engine shop and let them complete the build with the engine/drive and rigging there?

I'm in no position to pass judgement or claim a solution. It's easy to be an armchair quarterback. Boat builders are cool people. Costs a lot to maintain a cool lifestyle.

 

[JFMFG]

All I know is after all these threads of luxe, ultra, cheetah, and others idk if I will ever build a new boat due to not knowing if you can trust the builder lol.

 

[RiverDave]

All I know is after all these threads of luxe, ultra, cheetah, and others idk if I will ever build a new boat due to not knowing if you can trust the builder lol.

With the cost increases a lot of manufacturers in the performance segment, are really struggling with cash flow. It’s a tough racket to balance expenditures, labor, build times, deposits, etc..

I gotta give my hats off to one guy though.. Andrew at interceptor basically took a company on the brink, with a horrible history, and turned that thing around into a thriving builder with new models etc.. and it’s profitable.

He owns the company now, owns the building he’s in (which is nice) and to my knowledge is debt free.

It is possible, but it certainly isn’t easy by any means.

RD

 

[JFMFG]

With the cost increases a lot of manufacturers in the performance segment, are really struggling with cash flow. It’s a tough racket to balance expenditures, labor, build times, deposits, etc..

I gotta give my hats off to one guy though.. Andrew at interceptor basically took a company on the brink, with a horrible history, and turned that thing around into a thriving builder with new models etc.. and it’s profitable.

He owns the company now, owns the building he’s in (which is nice) and to my knowledge is debt free.

It is possible, but it certainly isn’t easy by any means.

RD

Agree 100% Andrew has done great things with intercepted. That 28 with 500s running 125 is impressive. Interiors look to be top notch. Before we decided to sell and move on from the magic I talked to him about doing the interior. I understand 100% some builders may be struggling with interest rates etc. most business is net 30 terms but if it takes 6 months to build a boat start to finish that’s alot of labor, materials, overhead etc you have to front before final payment.

 

[WTR&PWR]

Given this industries track record i can’t imagine financing a boat with a newer builder or one under new ownership. Companies like shockwave and advantage have been building boats with a price point slightly above the new pop ups and you never hear a bad story about them. I’d spend a little more to know someone’s process works or id just buy a used one.
I give a lot of credit to those companies because they have proven what it actually costs to build a nice west coast boat and stay in business. If it seems to good to be true…..
I feel bad for the investors. Building a new boat is a dream for many but anytime you are putting money up front for an unfinished product there is a lot of risk. Unfortunately those folks are going through it right now.

 

[DarkHorseRacing]

I think that would just add another layer of complexity into an already somewhat pain in the ass process.

Maybe. But I think it would be easy for anyone building jet boats to do that since rigging and what the motor has to have are less complex than I/Os, etc.

Both jets in the family were bought without engines and completed by us.

 

[DRYHEAT]

Maybe. But I think it would be easy for anyone building jet boats to do that since rigging and what the motor has to have are less complex than I/Os, etc.

Both jets in the family were bought without engines and completed by us.

Jets are kind of a different animal, I assumed we were talking about the 25 foot plus stern drive deals.

In the old days buying a staged boat usually a jet or v-drive was pretty common. I didn’t know anybody was doing that anymore.

Actually, now that I think about it, I don’t remember if it was Tahiti or who it was was offering some small jet boats in stages.

 

[Sportin' Wood]

Maybe. But I think it would be easy for anyone building jet boats to do that since rigging and what the motor has to have are less complex than I/Os, etc.

Both jets in the family were bought without engines and completed by us.

I am always thinking about useless stuff. Some nights when I lay awake at 3 am I wonder why no one sells a kit.

• Basic color and standard graphics hull (or single color with wrap)
• PRP Seats (order whatever color you want)
• Wiring harness
• Standard fuel cell
• LS power or whatever you can get your hands on.
• Jet drive
• Find a trailer manufacture

What am I missing? Seems like a fun winter project.

Figure out how to make a profit on the hull, sell the wiring harness and any accessories, set up a resale agreement with PRP, the Pump and a Engine solution. Sell the whole mess on a website. Produce a pile of videos loaded in an LMS for your customers on how to assemble the damn thing. Add a sub forum on RDP.

Is Liability Ins, the hurdle?

EDIT
The only thing I don't think I could figure out is the Hull. The rest of this seems pretty easy, since it's mostly buy resell/drop ship and marketing.

 

[DarkHorseRacing]

I am always thinking about useless stuff. Some nights when I lay awake at 3 am I wonder why no one sells a kit.

• Basic color and standard graphics hull (or single color with wrap)
• PRP Seats (order whatever color you want)
• Wiring harness
• Standard fuel cell
• LS power or whatever you can get your hands on.
• Jet drive
• Find a trailer manufacture

What am I missing? Seems like a fun winter project.

Figure out how to make a profit on the hull, sell the wiring harness and any accessories, set up a resale agreement with PRP, the Pump and a Engine solution. Sell the whole mess on a website. Produce a pile of videos loaded in an LMS for your customers on how to assemble the damn thing. Add a sub forum on RDP.

Is Liability Ins, the hurdle?

EDIT
The only thing I don't think I could figure out is the Hull. The rest of this seems pretty easy, since it's mostly buy resell/drop ship and marketing.

Liability is always a thing. You sell someone an incomplete boat they complete themselves and something happens you can be sure the manufacturer is gonna be getting sued. But of course they also get sued for complete boats as well since lawyers assume they have the money to pay out for the owners stupidity.

Seems to me its safer to sell a complete boat than not.

 

[Justsomeguy]

Got to have the 8 balls to keep the bikini models around.

This was fact checked. Came back as a fact.