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Old 10-12-2012
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help with acquistion of boat

Im in the process of trying to aquire a boat and get my captains liscense. I found the boat she blue water ready and im looking to use her as both a pleasure boat but more as a charter boat over seas. The boat has everything i need on her. Im trying to figure out ways to get funding as well as much experience as i can. For the full business including the boat, insurance, exams and general maitnance im looking at around $100,000. The boat is valued at over $200,000. So its a good investement on my behalf. Im welcome to any and all ideas and proposales
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Old 10-12-2012
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Re: help with acquistion of boat

Your charter license will take about three years unless you already have the hrs logged.
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Old 10-12-2012
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Re: help with acquistion of boat

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Originally Posted by ryusui View Post
Im in the process of trying to aquire a boat and get my captains liscense. I found the boat she blue water ready and im looking to use her as both a pleasure boat but more as a charter boat over seas. The boat has everything i need on her. Im trying to figure out ways to get funding as well as much experience as i can. For the full business including the boat, insurance, exams and general maitnance im looking at around $100,000. The boat is valued at over $200,000. So its a good investement on my behalf. Im welcome to any and all ideas and proposales
I have been thinking about this for a few years. There are plenty of us (older, wiser, and have cash) wanting to that. But the sad thing is that you are lucky if you can make it even if you are operating it yourself.

My best advise to you is that this is not a sound investment. If you want to make money, invest on something else. However, if you enjoy having your own yacht and have the money to do so. But by all means use it for some chartering when the condition is right. But if you depend on the income of chartering, you will sink.

Since I don't know you and your ability, just keep that in mind. Go for it if you have though it through. Good Luck.
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Old 10-12-2012
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Re: help with acquistion of boat

you might start shopping insurance, and see the difference between owner of the boat....and owner of the company that charters the boat out....and then the recent captains license and experience, or lack there of, on the size of the boat you intend to buy and then charter...

then there is the whole competition thing...a lot of people out there with a captain's license that are lucky to move two or three boats a year a day or two away....the rest are sitting...

best of luck, but make sure you have a year's expenses in the bank somewhere..
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Old 10-12-2012
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Re: help with acquistion of boat

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you might start shopping insurance, and see the difference between owner of the boat....and owner of the company that charters the boat out.....
Amazingly, the insurance difference between owner use and chartering use is not significant, at least the quotation the dealer(s) given to me.
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Old 10-12-2012
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Re: help with acquistion of boat

Do you actually have any sailing experience? Chartering experience?
You cannot charter "over seas" in a country you are not a citizen of and your boat is not registered in (then you'll need a local captain's license as well), without work permits and only where you won't be in competition w/ the locals.
To charter in the Virgin Islands, you must have an agent or charter broker, charter management company and BVI certification if you want to take passengers into the BVIs.
How do you plan to get charters in any area that has established, experienced crews who have a great track record and years of satisfied clients?
rockDAWG is absolutely right; go cruising and enjoy your boat. As you travel you'll meet lots of charter boats and you can learn a bit more about the industry, first hand. A few weeks crewing on a term charter boat may open your eyes to the realities of chartering; it is long days and very hard work. When I operated charter boats in the Caribbean, though the pay was quite decent, I figure it worked out to about $6.00 an hour with room and board thrown in!
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Old 10-13-2012
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Re: help with acquistion of boat

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Originally Posted by ryusui View Post
Im in the process of trying to aquire a boat and get my captains liscense. I found the boat she blue water ready and im looking to use her as both a pleasure boat but more as a charter boat over seas. The boat has everything i need on her. Im trying to figure out ways to get funding as well as much experience as i can. For the full business including the boat, insurance, exams and general maitnance im looking at around $100,000. The boat is valued at over $200,000. So its a good investement on my behalf. Im welcome to any and all ideas and proposales
Do like all the rest of us with big boats - work your a$$ off for a big chunk of your life. There are no quick & easy ways to do it.
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