fractional boat ownership - Page 2 - The Hull Truth

jhmj77 · 03-15-2010, 04:59 PM

I tried it once with a close family member. Take my advise and run like hell from that idea! There were nothing but arguments ranging from where the boat was going to be kept to who went on the boat and when. I ended up selling out and buying a small boat of my own. Hell sometimes I think that it would be money ahead to just jump on a charter or guide and buy seafood when I wanted it. But then where would pour all my money into?

Jonafare · 03-15-2010, 06:26 PM

There is a boat club at Southport Marina. I think it is called Freedom Boat club as well. I was once told by a wise old man that getting into business with someone is like getting into bed with someone... one of you is going to get F**ked. Owning a boat jointly is a busines relationship. Personally, I'd charter a boat.

cgull · 03-21-2010, 06:37 AM

Quote:

Originally Posted by ZIGZAG

Charter? I went on a headboat out of Carolina Beach years ago, I waited and thanked the captain after the trip, the thanks wasn't for the trip, it was for making up my mind the next time out I would be on my own boat and it has been for 25 years.

+1

Although I don't mind a charter once in a while, it basically removes much of the skill and therefore gratification for me. Also, when the crew is "on the clock" the entire vibe of a fishing trip changes.

I would recommend finding a recreational boat owner and help with fuel, bait, etc. in exchange for the spot.

Bayside Bert28 · 03-21-2010, 07:14 AM

I was in a partnership for a small airplane and I think a partnership for a boat would be structured in a very similar manner.

Big issues are:

where is the boat based?
how do you divide the time aboard?
what is the maximum length of time somebody can plan for a trip?
fixed expenses are easy ... split them equally.
how do you divide variable expenses? If one partner puts 300 hrs per year on the boat and another puts 75, then it is very possible that it would be more fair to divide variable expenses based on hours used.
what about upgrades?
how does one exit the partnership?

ultimately, our biggest challenge with the airplane was finding new partners when one wanted to bail. In my case, I paid for my share for an extra 2 years while I had already bought another airplane. Subsequent partners experienced the same thing. Circumstances change but you cannot take a share of an airplane or a boat and move it to the opposite coast with you if you had to move.

Ultimately, I bought my own airplane and never looked back .... didn't even consider a partnership in a boat.

The good news? My original airplane partners remain two of my closest and most interesting friends. It was not completely like many business partnerships where "everything rides on the success or failure of the business and the income derived from it". Instead, with the boat or airplane partnership, it still is a business but more like having a share in a business while maintaining a full time job.

So ... I don't at all say ... hell no.

I do say, that eventually you will want to own your boat all by yourself.

Colbachlaw · 03-21-2010, 04:21 PM

I am in a boat partnership in Cabo San Lucas.

Four or five of us from Oregon bought into a trailerboat.

We each pay a small, set amount for storage, insurance, and maintenance.

It has worked out great for us, as I get more time than I can ever use on the boat and it is pretty cost effective.

I think it works out well for us because we have one guy who started the arrangement who takes care of all of the hassles for the rest of us.

Anybody can charter a boat and catch a marlin, but going out and catching marlin in your own boat is much, much more satisfying.

I say do it if you can find the right people.

Mike C