Abstract: An adjustable strap assembly for raising, lowering and transporting outboard motors and similar heavy bulky objects, and methods of use thereof, wherein the adjustable strap assembly (20), in its preferred embodiment, requires only a handle (31) having a central tubular portion (42), a single strap (46) of nylon webbing or the like oriented in a figure-8 configuration with the material of the strap (46) passing through the tubular central portion of the handle twice (46', 46") so as to form an assembly having a first strap loop (32) on one side of the handle (31) devoid of fasteners and a second strap loop (34) on the opposite side of the handle (31) formed by coupling together the first and second free ends (58, 60) of the strap (46) using a suitable buckle assembly (61). In a slightly modified embodiment (FIG.