Join Date: Oct 2006
Location: Callao, VA
Thanked 17 Times in 17 Posts
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Re: Buying a yacht
"charter it covering all my costs".....third biggest lie in the world.
depending on your cash flow, tax situation and a host of other things, the charter MAY cover 40-60% of the boats expenses...one bad charter or a bad trip for you to Tortola can jinx the whole years profits...
There is no free lunch, Sunsail or any one else.
We chartered our 36CC for two years and pulled out early as the damage to the boat and the expenses to me, to replace "lost" lines that "our best customers" misplaced...$250-300 per set, almost every charter was too much.
Slippage is way more per month, because the charterers have to be two steps to the boat.
Maintenance is MUCH higher, as the boat is used 7-10 years every year (kind of like dog years)
Insurance is VERY high, because you are now a partner in its possible risk
Damage (they call it wear and tear) is many times simply not repairable...think spilled vodka and vomit on your floors and walls left for a long weekend and a few days for the company to discover and clean.
PM or email me if you want more...