SailNet Community - View Single Post - shared ownership- trade equity for upkeep and fees?
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post #6 of Old 12-09-2009
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We share a boat with another couple, but we both went in on it together originally. We figure that none of us has enough free time to justify sole ownership, and halving the costs is a win/win. Having helpers you don't have to pay is good too. Getting someone to buy in as an equity partner may be tricky, as has been suggested. The most important part of the equation is getting the right partner(s). If they're the right people, you will all be satisfied with whatever the arrangement is. Our family once got full use of a 28' ketch so long as we maintained it every year and paid the mooring fees. The owner wanted to give it to his young son, so we benefitted from this arrangement for about 8 years. (The boat just had it's 60th birthday.) What's it worth to you to not have to pay the mooring fees? Eight weekends? Three? Getting the bottom painted-- is that worth five, or two? Do you not care about sailing on typical weekends now, when your kids are busy playing soccer or away at camp, but want to hold onto the holiday periods for some family time? How will that change in three years? Flexibility is good over the long haul, because things do change. Lots of good advice here, lots of different angles to explore. Enjoy it!
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