Charter fleet ownership - SailNet Community

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  #1  
Old 04-29-2014
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Charter fleet ownership

I'm looking for advice regarding owning a boat in a charter fleet. I know that there are negatives, but it's very appealing to me to be able to visit a boat in the
BVIs or elsewhere for 5-7 days several times a year.

I would want a catamaran 38-44 feet. I currently own a monohull in NC. Any suggestions or direct experience would be welcome.

rjc
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Old 04-29-2014
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Re: Charter fleet ownership

bump, interested in the response as well, just curious to why someone would buy into this.
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Old 04-30-2014
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Re: Charter fleet ownership

I have owned a boat in charter, but in the north..not the BVI's.

To me this decision would be one of simple math. You say 5-7 days several times a year. How many is several? If the cost of chartereing the boat for those days is equal to the purchase option (revenue minus all costs...not just initial) then you charter and don't worry about the boat when you are not on it.

Certainly there are as many benefits to charter ownership as there are problems with it. Talk to your tax advison and see all of the benefits and issues.

Good Luck.
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Old 04-30-2014
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Re: Charter fleet ownership

The best account of the dynamics of owning a boat in charter that I've seen online are here: The Usual Suspects - Caribbean Sailing Adventures

The guy owned a boat in Barefoot (second or third tier charter) for 7 years. He lost money on the deal overall, but didn't seem too dejected by the financial aspects of it. Basically, my takeaway is that it will *NOT* make financial sense...but when does boat ownership EVER make sense by the #'s
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Old 04-30-2014
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Re: Charter fleet ownership

Quote:
Originally Posted by rjcaudle View Post
..... but it's very appealing to me to be able to visit a boat in the BVIs or elsewhere for 5-7 days several times a year.
.......
rjc
we own in a charter co. and this is exactly the reason my wife wants us to stay in the program. Using a boat in different ports around the world without having to actually sail there has it's pluses! 'Course, you could do this even without being an owner, just by chartering. It has worked well for us, but wouldn't for everyone.
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Old 05-01-2014
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Re: Charter fleet ownership

Quote:
Originally Posted by rjcaudle View Post
I'm looking for advice regarding owning a boat in a charter fleet. I know that there are negatives, but it's very appealing to me to be able to visit a boat in the
BVIs or elsewhere for 5-7 days several times a year.

I would want a catamaran 38-44 feet. I currently own a monohull in NC. Any suggestions or direct experience would be welcome.

rjc
I work for a charter company. Full disclosure completed.
What are your goals? Are you trying to decrease the cost of ownership? Are you trying to actually make money (nearly impossible)? Are you trying to sail more and decrease the cost to do so? What are your plans in five years, or so, when a boat would come out of charter? Have you looked at the cost of a 40' foot cat new and seen what the same one sells for after being in charter for 5 years?

I know quite a few people that have boats in a variety of charter fleets. Some have been doing it for 15 years. I know people that have more than one boat in a fleet. I know owners that haven't ever used their boat but send clients/business associates down and write it off. I know others that use their boat more than 6 weeks a year. I know non-boat owners that charter 6-8 weeks every year and have no desire to own a boat. The system works great for some and is a disaster for others. I think the difference is knowing what you are trying to achieve and keeping your eyes wide open as you get further into the options.
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Old 05-05-2014
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Re: Charter fleet ownership

My goals are not to make money, or end up with a boat of my own in 5 years. My desire would be to travel to the boat or other locations 4-5 times a year and decrease the costs of chartering.

I think if I had my own boat in a fleet I would make those trips more often. I have not checked into the loss of value in 5 years after chartering. That's what I actually was curious about.

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Old 05-05-2014
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Re: Charter fleet ownership

If you are going to sail 5-7 weeks a year then it might start, and I do mean "start", to make sense for you. If you wish to charter in many far away places then there may be even more advantages.
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Old 05-06-2014
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Re: Charter fleet ownership

Hi all, this is Christine Joseph, yacht ownership rep based here in Tortola, BVI for the Moorings and Sunsail. If you send me your contact information, I'll be happy to send further info on the program along with spec sheets and pricing for the Cats we currently have available to own into the program. Cheers!
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Old 05-06-2014
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Re: Charter fleet ownership

Christine, why don't you comment on those questions publicly, here on a public forum? Instead of soliciting private business?

If there are good points to be made, they will remain here for all to see. And this is not the first or only time that someone has come to a public forum asking if buying into a sailboat charter makes any kind of sense, the topic comes up every year.

Obviously it makes sense to some people, but perhaps you can tell us all when it will or won't be profitable, or advisable, in general. Does it work for people who make under a million a year? Over a hundred grand? Need a tax shelter? Please, do tell us all.
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