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Fractional Boat Ownership for those of us who lack proper OT Balla status
Posted on 5/31/22 at 8:54 am
Posted on 5/31/22 at 8:54 am
So I was in Costa Rica recently and a friend of mine was explaining that he went in with 5 other guys for a nice cabin cruiser none could afford individually.
Being as this is the OT, does the PropStop have a financing program for this kind of thing?
Being as this is the OT, does the PropStop have a financing program for this kind of thing?
42
Posted on 5/31/22 at 8:54 am to Lsupimp
If it flies, floats or fricks LEASE IT
Posted on 5/31/22 at 8:55 am to Lsupimp
quote:
So I was in Costa Rica recently
Subtle "I've been outside the US" brag.
Posted on 5/31/22 at 8:55 am to Lsupimp
That sounds like a nightmare
Posted on 5/31/22 at 8:56 am to Lsupimp
quote:
he went in with 5 other guys for a nice cabin cruiser none could afford individually.
How does this work? Like joint custody? Is there a calendar where they can reserve certain dates.
If that works for them, have at it. I just feel like I'd rather own something outright or just rent something myself. If I wanted to take the boat out on a spur of the moment trip, I'd hate to have to refer to a calendar to see if it's available.
Posted on 5/31/22 at 8:56 am to Lsupimp
Unless you and everyone else involved are very experienced boat owners who you trust a great deal, run far the frick away.
Boats are my thing. I would never go into partial ownership of one with anyone outside of about 4 people.
Boats are my thing. I would never go into partial ownership of one with anyone outside of about 4 people.
Posted on 5/31/22 at 8:58 am to Lsupimp
So, a timeshare
Posted on 5/31/22 at 9:02 am to Lsupimp
I owned a boat with my sister once - when it was out one day, one of the engines got fricked up and needed a rebuild. It was a struggle figuring out who had to pay for the repair. I can't imagine trying this with a bunch of buddies.
Posted on 5/31/22 at 9:17 am to Lsupimp
Sounds like an abject disaster.
Posted on 5/31/22 at 9:19 am to Lsupimp
That sounds legit like a terrible idea
Posted on 5/31/22 at 9:19 am to Lsupimp
I would only consider this if it was a group of close friends that I fish with a lot where we would all agree to take the boat out together
I’m not paying for repairs when the other guy takes it out alone and his dumbass fricks the boat up
I’m not paying for repairs when the other guy takes it out alone and his dumbass fricks the boat up
Posted on 5/31/22 at 9:30 am to Lsupimp
Maybe if a company is providing some sort of monthly or weekly maintenance. Cannot rely on other people for this. shite constantly breaks and needs maintenance on a boat. Like every time you use it.
Posted on 5/31/22 at 9:38 am to Lsupimp
Your friend has a lot of disappointment ahead
Posted on 5/31/22 at 9:40 am to Lsupimp
quote:
a friend of mine was explaining that he went in with 5 other guys for a nice cabin cruiser none could afford individually.
Sounds like a terrible idea.
Posted on 5/31/22 at 9:42 am to Lsupimp
where is boat kept?
local to where they live?
is it trailered?
Where is it used?
local to where they live?
is it trailered?
Where is it used?
Posted on 5/31/22 at 9:54 am to Lsupimp
We talked about doing this a few years ago with some friends. We realized quickly how big of a disaster it would be. Would rotate it for holidays and you’d get real salty if it rained or there was a maintenance issue when it was your turn. Would legit suck to pay part of the maintenance because of someone else’s mistake.
Posted on 5/31/22 at 9:59 am to Lsupimp
Sounds like a great way to get rid of some friends. I am partners with my brother in a boat and even that is not easy. If multiple people were involved you better have everything on paper spelling out what each person is responsible for. You have to remember that everyone has a different opinion than yours as to what is acceptable when it comes to cleaning, maintanence and so forth. I say this as I spent 2 hours yesterday on my hands and knees scrubbing marks out of the non skid flooring on our boatwith no fishing buddies to be found.
Posted on 5/31/22 at 10:05 am to Lsupimp
I would not do fractional boat ownership with my own bother who lives two blocks from me. No way. It would be a nightmare. Once you own a boat, boat changes to B.O.A.T...bust out another thousand. Then you have to figure out who is paying what and when. frick all that. Just own your own damn boat.
Posted on 5/31/22 at 10:08 am to Lsupimp
Buddy of mine did it with his brother-in-law. The BIL used it all the time which meant more wear and tear on his part. My buddy took it out and the engine blew yet they had to split the cost of replacing it.
To make it work, the number of hours each "share" puts on the boat should be pro-rated against any repairs. There is always one guy that uses it all the time and one that hardly ever uses it.
I would even go further and require each party to pay a 3rd party to clean the boat after each use.
To make it work, the number of hours each "share" puts on the boat should be pro-rated against any repairs. There is always one guy that uses it all the time and one that hardly ever uses it.
I would even go further and require each party to pay a 3rd party to clean the boat after each use.
Posted on 5/31/22 at 10:17 am to Lsupimp
Sounds like a nightmare.
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