Any advice on fractional ownership?
I want a bigger boat than I can afford to keep in the water. I really don't want to pay for a daysailer/weekender… then spend $2-3k on top of that to charter a boat big enough to take on vacation each year. After looking at other options, I'm interested in learning more about partnerships.
If you are, or have been in any type of a joint ownership arrangement, I would love to hear from you!
Some of the questions I have:
> Did you create a LLC, if so did you find an attorney that specialized in that? How much did it cost? Are there reoccurring government fees for the LLC?
> How did you manage the accounting?
> Is it easier to contract maintenance or were you able to work out an equitable DIY approach?
> Have you dealt with a partner leaving and if so, how?
Thank you so much for any advice you can give me!