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Fastboats done?.........

J

JupiterSunsation

New member
Golddigger (50 OL Cat) and another all white 50 Nortech Cat are at National Liquidators as of today and they said all his floorplanned inventory was yanked today.

I was at National today picking up a buddy's boat and saw the cats in person. Golddigger had a US Marshall's sticker on it with crime scene tape around it. My buddy lives near Fastboats and the parking lot has about 4-5 boats in it now/ trailers double stacked ready to go. Usually packed with stuff all the way to the fence.......
 
Nota big shocker with nor-tech pulling their line from him. I'd def say they were responsible for keeping him in the lifestyle he'd grown accustomed too.

Of course, crime scene tape and siezed items??? That indeed sounds shady.
 
They took "inventory" from Fast Boats Tues and Wed..
I believe Aqua Toy Store was also visted recently...
Without the banks wanting to loan decent American's money..
it will dry up the boating industry...
 
Suprised it took this long - I was talking to a car hauler the other day who took the Cat to Jersey - he said he repo'd a couple from there already.

I've never met the guy personally - but have a couple of close friends who've purchased from him and both swear they would never do business with him again - I've yet to meet anyone who had a good thing to say about Swears ......
 
I know someone who recently bought a 38 Donzi w/ triple verados from a Florida based bank. The boat had been part of fastboats floorplan. At least that's what he was told by the bank.
 
Met Randy at boat shows/poker runs and he seemed like a nice guy. I will credit him with some of the nicest designs Nor-tech ever produced. His paint, interiors, concepts were over the top awesome.

I think from a business standpoint boat dealerships are very tough concepts. Unless you have rack storage and a sizeable service business you won't be able to support a floorplan on boats. To pay fixed overhead (rent, mortgage, utilities) and floorplan interest without a hefty subsidy from service/storage is a business model focused on volume which in this market is not happening.

Financing is a whole other issue for everyone in the car, boat and real estate industries.
 
Magic Medicine said:
Very sad!

Thanks Obama!
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Obama didn't do this, keep in mind he inherited a snowball that had already started down the mountain.....I'm not an Obama supporter, didn't vote for him and am very suspicious of his "changes" but he can't be blamed for all the problems since many started way before he started in January.
 
OldSchool said:
Guys, let's not turn this thread into a politcal discussion. Please :)
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Too late. :reddevil:

Seriously, though... I've never met Randy, but never heard anything negative about him at all. As Jupiter Sunsation said above, this economy, regardless of who's to 'blame' for it, or what kind of great person you are, is creating a rough time for anyone trying to sell boats.

Best of luck to everyone in the business. Probly gonna be a long winter. :(
 
As some or most of you know I hauled the majority of boats sold for Randy, I have always known him to be right up front with me and the customers I delivered for. After reading this thread I called Randy this morning and asked him what the hell is going on, This is what he said. Number one Goldigger was not on his floorplan and the bank that held the lien wanted it back and he refused until they paid the one year of storage owed on the boat. The bank refused and the bank had the marshalls come and get it and take it to national. As for other boats he gave back to the banks the large unsellable boats to keep from spending 50 grand a month on flooring for boats that he could not get financed for customers. Now here is the future for Randy. Fastboats is moving next month to a new address on North Federal Highway in Pompano. They are moving to the new dry stack called Hidden Harbor at 1490 North Federal Highway, Pompano Beach, Fl
Randy has signed a long term agreement with the owners to handle all service at the center and he aquirred the 8000sq ft showroom. Hidden Harbor has 380 dry racks for all size boats. I know personally some people that have negative feelings for Randy but the majority of boaters like him and fastboats. Most Florida poker runners know that if their boat breaks during a run that fastboats is on, Randy if asked will give you his mechanics to get you up and running even if you are not a regular fastboats customers. I personally wish the best for him and his family.
 
Bgchuby01 said:
As some or most of you know I hauled the majority of boats sold for Randy, I have always known him to be right up front with me and the customers I delivered for. After reading this thread I called Randy this morning and asked him what the hell is going on, This is what he said. Number one Goldigger was not on his floorplan and the bank that held the lien wanted it back and he refused until they paid the one year of storage owed on the boat. The bank refused and the bank had the marshalls come and get it and take it to national. As for other boats he gave back to the banks the large unsellable boats to keep from spending 50 grand a month on flooring for boats that he could not get financed for customers. Now here is the future for Randy. Fastboats is moving next month to a new address on North Federal Highway in Pompano. They are moving to the new dry stack called Hidden Harbor at 1490 North Federal Highway, Pompano Beach, Fl
Randy has signed a long term agreement with the owners to handle all service at the center and he aquirred the 8000sq ft showroom. Hidden Harbor has 380 dry racks for all size boats. I know personally some people that have negative feelings for Randy but the majority of boaters like him and fastboats. Most Florida poker runners know that if their boat breaks during a run that fastboats is on, Randy if asked will give you his mechanics to get you up and running even if you are not a regular fastboats customers. I personally wish the best for him and his family.
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Good outcome to the story. Thanks for chiming in Jeff and hopefully Randy can make it through the tougher times.......
 
It's just insane to think that with all the development and fanfare golddigger recieved not too long ago, that it was repoed with a years back storage owed......
 
JupiterSunsation said:
Met Randy at boat shows/poker runs and he seemed like a nice guy. I will credit him with some of the nicest designs Nor-tech ever produced. His paint, interiors, concepts were over the top awesome.

Um....Although Randy picked the themes for his boats, Nils Johnsen is responsible for all of the Nor-Tech designing.
Click to expand...
 
Number one Goldigger was not on his floorplan and the bank that held the lien wanted it back and he refused until they paid the one year of storage owed on the boat. ---------> Not really a secret
 
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