While you could certainly do that, you would just be better off buying an inexpensive skate. So you would be using an old 137 to do this? Frankly, I think that you would be hard pressed to ollie that thing out of the water let alone get it to spin under you on shuvs. Typical wakeskates are around 105-115 or so, hence the 30cm difference as mentioned above.
However, if you just plan on doing this for fun then go for it. Personally I would just mount the board on a wall or sell it to a newb.