seeking 50% partnership on new 35' sailboat in Annapolis, MD - SailNet Community
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post #1 of 14 Old 12-02-2013 Thread Starter
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seeking 50% partnership on new 35' sailboat in Annapolis, MD

Hello,

I am looking for a person interested in a 50% partnership on a new 34-35ft cruising sailboat in Annapolis, MD.

Please contract me privately by PM.

Thanks.

Last edited by Zoya; 12-02-2013 at 05:48 PM.
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post #2 of 14 Old 12-02-2013
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Re: seeking 50% partnership on new 35' sailboat in Annapolis, MD

You might have better luck posting notes on boards at nearby marinas or asking around.

Everyone here is just going to tell you partnerships don't work
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post #3 of 14 Old 12-02-2013
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Re: seeking 50% partnership on new 35' sailboat in Annapolis, MD

Actually I won't tell him partnerships won't work in Annapolis. I had one for five years on my 38 footer. By the same token I had known that partner for 15 years and we had done business together in a number of capacities, and so understood and trusted each other. I do agree that you might do better on Spinsheet or some other local source.


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post #4 of 14 Old 12-03-2013 Thread Starter
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Re: seeking 50% partnership on new 35' sailboat in Annapolis, MD

Thanks Jeff,

I am planning to post and add in Spinsheet but that only comes out once a month if I am not mistaken? Any other leads as far as local bulletin boards and forums?

Best,

Terry.
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post #5 of 14 Old 12-03-2013
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Re: seeking 50% partnership on new 35' sailboat in Annapolis, MD

Most finance companies would go for a 50% partnership, but wouldn't do any maintenance.
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post #6 of 14 Old 12-03-2013
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Re: seeking 50% partnership on new 35' sailboat in Annapolis, MD

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Originally Posted by Zoya View Post
Hello,

I am looking for a person interested in a 50% partnership on a new 34-35ft cruising sailboat in Annapolis, MD.

Please contract me privately by PM.

Thanks.
Rather than going through the brain damage of finding/setting up a shared ownership arrangement, it might be wiser to look into (click on) existing Fractional Ownership Programs; No?

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post #7 of 14 Old 12-03-2013
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Re: seeking 50% partnership on new 35' sailboat in Annapolis, MD

Two thoughts on the above;

Spinsheet does have an online marketplace, which I think you will be posted if you take out an ad. Most yacht clubs have a old fashioned bulletin board where you may be able to post an ad.

The other issue has to do with Bank Loans. It really created complications to attempt to get a loan as partners. What actually happened is that I took a loan for my part of the ownership and was listed as the owner. My partner paid his share in cash, with his financing coming from other sources. We had a detailed partnership agreement which including the requirement to file a lein on the documentation showing him as the creditor rather than as a partner. The Insurance policy had a rider which listed him in some form as a frequent user of the boat.

Jeff


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post #8 of 14 Old 12-03-2013 Thread Starter
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Re: seeking 50% partnership on new 35' sailboat in Annapolis, MD

Thanks Jeff, I'd be looking for a partner that would bring half of the boat value cash, don't want bank/loans involved in this type of deal.

Best,
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post #9 of 14 Old 12-03-2013
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Re: seeking 50% partnership on new 35' sailboat in Annapolis, MD

I'd rather have a bank as a partner that another heretofore unknown individual.Over the past half century, I've had many partners that were "banks."I wouldn't try to finance a boat having 2 unrelated owners as principals.

Last edited by Seaduction; 12-03-2013 at 05:36 PM. Reason: added sentence.
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post #10 of 14 Old 12-04-2013
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Re: seeking 50% partnership on new 35' sailboat in Annapolis, MD

I'm with svHyLyte - and would recommend Pinnacle Yachts. They offer a 'lease share' rather than fractional ownership. We had a 40' Jeanneau with them in Chicago in 2011. Excellent setup - great service and a terrific value (my lease was less than the slip fees I would have had to cough up to the City of Chicago for a 40' slip at Belmont Harbor).

Want more sailing than a single share? Buy more! Then enjoy how someone else maintains the boat - all you need to do is sail. Pinnacle has a 37' Jeanneau with available shares at Annapolis Landing.

No connection to Pinnacle - just a happy customer who wishes he was back in Chicago.
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