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Started By
Message
Yacht purchase advice
Posted on 6/21/20 at 10:24 am
Posted on 6/21/20 at 10:24 am
I want to own a yacht, but only partially. What’s a good way to find partners? It seems like we could run it like a business (initiation fee, monthly dues, contracted routine maintenance, etc.).
I know there are boat clubs in other cities, but in New Orleans, I don’t see much. I also don’t see the bareboat charter being an option locally.
I know there are boat clubs in other cities, but in New Orleans, I don’t see much. I also don’t see the bareboat charter being an option locally.
12
Posted on 6/21/20 at 10:27 am to Dandaman
quote:
I want to own a yacht, but only partially. What’s a good way to find partners?
If you need partners to make it work financially you don’t have enough $$$. My boss bought an older 50Ft carver and after 2 years he is in over 100K replacing an engine and transmission. You’re better off buying rent houses.
This post was edited on 6/21/20 at 10:28 am
Posted on 6/21/20 at 10:51 am to Dandaman
If it flies, floats or phucks, rent it don’t buy it
Posted on 6/21/20 at 11:11 am to Dandaman
What do you consider a yacht? 40’, 50’, 100’?
Posted on 6/21/20 at 11:36 am to Dandaman
You should pay someone a couple of hundred bucks to kick you in the nutz and forget this idea. It will save you a ton of money
Posted on 6/21/20 at 12:00 pm to Dandaman
Holy shite that sounds like a nightmare.
Posted on 6/21/20 at 12:18 pm to Dandaman
FIRST WORLD PROBLEMS
Lol
Lol
Posted on 6/21/20 at 12:40 pm to Dandaman
Two of the worst possible investments are boats and timeshares and somehow you want both rolled into one.
Posted on 6/21/20 at 1:05 pm to Dandaman
HORRIBLE idea. Unless you have very close very wealthy friends itll be a financial disaster.
Sportfishers and cruising yachts are a whole different class of expensive from trailerable boats.
Sportfishers and cruising yachts are a whole different class of expensive from trailerable boats.
Posted on 6/21/20 at 2:12 pm to Dandaman
Ummmm.... I don’t think us baws are the ones to be asking for “Yacht advice“.
Now, if you want solid advice on a 4WD truck, four wheeler, Shotgun, Rifle or Bow, THEN you’ve come to the right place.
Btw, Happy Father’s Day to those guys lucky enough to have little baws and gals.
Now, if you want solid advice on a 4WD truck, four wheeler, Shotgun, Rifle or Bow, THEN you’ve come to the right place.
Btw, Happy Father’s Day to those guys lucky enough to have little baws and gals.
Posted on 6/21/20 at 2:12 pm to Dandaman
Wtf
Posted on 6/21/20 at 2:14 pm to wickowick
quote:
You should pay someone a couple of hundred bucks to kick you in the nutz and forget this idea. It will save you a ton of money
He could pay somebody $20k-$50k to do that and it would still save him money.
Posted on 6/21/20 at 2:51 pm to Flats
i owned/captained 41 and 45 ft catamarans..and am currently in the market for a 51 footer right now.
100% for medium-to-long term cruising (living aboard full time except the brunt of hurricane season)
folks tend to buy boats because they love the ocean...the lifestyle..the freedom that comes with being able to set sail to wherever you want...whenever you want.
folks that seek that freedom tend to be a highly independent, non-conforming and self sufficient lot.
(not the best characteristics for potential partners)
best bet to find partners is from among wannabe sailors.
go to the british virgin island, ft lauderdale or galvaston bay area texas..you'll find them at every marina.
usually it is the soon-to-be-retired pilot trying to convince his wife to sell their house and buy a yacht..
btw, you will need a captains license to work in USA..
and will want to check if you'd even be able to get insurance for offering a bareboat charter. (probably not)
and the words you want to search is "fractional ownership".. there are already companies that introduce fools to each other.
moorings and dreamyachtcharter are decent places to start if you simply want to buy..and let new sailors abuse your boat for 5 years.
if you want to do the yacht thing without the expenses..
most local marinas have open yacht races every weds or thurs.. they always need crew.
passages and deliveries are awesome for gaining experience. but that experience can vary wildly depending on the boat and captain.
for desirable gigs crewing it helps if you...
#1 know diesel engines better than the captain.
#2 have cooking experience
#3 look really good in a bikini
(my requirements were 2 out of those 3)
100% for medium-to-long term cruising (living aboard full time except the brunt of hurricane season)
folks tend to buy boats because they love the ocean...the lifestyle..the freedom that comes with being able to set sail to wherever you want...whenever you want.
folks that seek that freedom tend to be a highly independent, non-conforming and self sufficient lot.
(not the best characteristics for potential partners)
best bet to find partners is from among wannabe sailors.
go to the british virgin island, ft lauderdale or galvaston bay area texas..you'll find them at every marina.
usually it is the soon-to-be-retired pilot trying to convince his wife to sell their house and buy a yacht..
btw, you will need a captains license to work in USA..
and will want to check if you'd even be able to get insurance for offering a bareboat charter. (probably not)
and the words you want to search is "fractional ownership".. there are already companies that introduce fools to each other.
moorings and dreamyachtcharter are decent places to start if you simply want to buy..and let new sailors abuse your boat for 5 years.
if you want to do the yacht thing without the expenses..
most local marinas have open yacht races every weds or thurs.. they always need crew.
passages and deliveries are awesome for gaining experience. but that experience can vary wildly depending on the boat and captain.
for desirable gigs crewing it helps if you...
#1 know diesel engines better than the captain.
#2 have cooking experience
#3 look really good in a bikini
(my requirements were 2 out of those 3)
This post was edited on 6/22/20 at 5:54 am
Posted on 6/21/20 at 3:06 pm to mrgreenpants
I bought a 35' sailboat (slightly used) with 2 partners (friends who are all kind of chill). We split CAPEX 3 ways and $300/month each for maintenance account. Covers all expenses (so far). Boat, even with 3 partners, gets used rarely.
If you can find some friends that are interested and pull the trigger you may find out that boat ownership is not for you.
If you can find some friends that are interested and pull the trigger you may find out that boat ownership is not for you.
Posted on 6/21/20 at 3:15 pm to Dandaman
I would never own a boat that I didn’t pay cash for.
Your idea sounds great until that first big repair bill.
People also don’t realize that boats are a bitch to maintain. It is much more trouble than your house. There’s always something to fix or maintain and the larger the boat, the more systems the more problems.
Get a boat you can pay cash for and move up from there if you find it a good use of your entertainment money.
You will not make money with a one boat boat club.
Your idea sounds great until that first big repair bill.
People also don’t realize that boats are a bitch to maintain. It is much more trouble than your house. There’s always something to fix or maintain and the larger the boat, the more systems the more problems.
Get a boat you can pay cash for and move up from there if you find it a good use of your entertainment money.
You will not make money with a one boat boat club.
This post was edited on 6/22/20 at 4:05 am
Posted on 6/21/20 at 9:58 pm to Dandaman
quote:
It seems like we could run it like a business (initiation fee, monthly dues, contracted routine maintenance, etc.).
I've talked to lots of folks with boats - most sizes. Your rule of thumb is about 10% of the purchase price every year for maintenance, at a minimum.
That's maintenance - somewhat ironically, I think the smaller the boat the higher the percentage. On the other hand, the smaller the boat, the smaller the crew, so it may wash out proportionally.
And that's another question - "run it like a business" - somebody has to captain the thing. That isn't cheap to either be a captain (and then you're on the boat, so it's your full time job, as well as a business you're invested in) OR hire a captain. You can't really go too cheap on crew, either, because this is a luxury product and your customers have luxury expectations.
Posted on 6/22/20 at 5:30 am to Ace Midnight
that 10%/year is relatively accurate...IF you can do most of the work yourself.
one boat buck=$1000.
if you cant learn to maintain/repair yourself.. well.. those boat bucks will add up quickly
i can also say while living onboard.. i'd be doing boat projects everyday...from breakfast until ~12pm.
that was pretty my routine except while under sail or on a passage (or i was entertaining visitors)
the sea is a cruel and harsh mistress..
there was always something to do/fix.
one boat buck=$1000.
if you cant learn to maintain/repair yourself.. well.. those boat bucks will add up quickly
i can also say while living onboard.. i'd be doing boat projects everyday...from breakfast until ~12pm.
that was pretty my routine except while under sail or on a passage (or i was entertaining visitors)
the sea is a cruel and harsh mistress..
there was always something to do/fix.
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