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post #1 of 9 Old 07-13-2009 Thread Starter
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Cruising from NYC to Bahamas

Hi! I'm brand new to the forum. I have had the good fortune to have spent several weeks (10 years ago) sailing in the Caribbean, Lake George and Long Island Sound. I'm just recently looking into getting back into it, now that I have a little more $ to take some lessons. I don't currently have a boat but within the next few years I would like to have one for cruising. I have a couple questions for any experts out there.

Is it possible to make money by using your boat for charters? At some point within 10 years (I'm 29 now), is it feasible to quit my job, sail and make enough to survive by chartering, or am I just insane? What are the yearly maintenance costs of owning a sailboat?

What is the approximate difference in how fast you could reach the Bahamas or the Caribbean from NYC in a catamaran vs a monohull? Would the time difference make owning a cat worth the extra costs?

Thanks for the advice!
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post #2 of 9 Old 07-13-2009
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1.No
2. No
3. It depends
4. It depends
5. NFW!

Welcome aboard

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post #3 of 9 Old 07-13-2009
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Succinct and true.

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Toronto in summer, Bahamas in winter.

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post #4 of 9 Old 07-14-2009 Thread Starter
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1.No
2. No
3. It depends
4. It depends
5. NFW!

Welcome aboard
your depth of knowledge is astounding!
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post #5 of 9 Old 07-14-2009 Thread Starter
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1.No
2. No
3. It depends
4. It depends
5. NFW!

Welcome aboard
so the people out there renting their boats for charters at $20,000 a week or whatever aren't coming out ahead?
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post #6 of 9 Old 07-14-2009
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NO

And there trying to NOT go into bankruptcy right now

1970 Cal 29 Sea Fever

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1981 J24 Tangent 2930
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If a dirty bottom slows you down what do you think it does to your boat
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post #7 of 9 Old 07-14-2009
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Originally Posted by spacefight View Post
so the people out there renting their boats for charters at $20,000 a week or whatever aren't coming out ahead?
Space...$20k a week would be what one might get for a 75' multimillion $$ yacht...which if you could afford it...you wouldn't need to be asking the question. And then you'd be wondering where the next people with 20k to spend for a week would be coming from. The answer is NO...it it virtually impossible for one to buy a boat and live on it and put it into charter successfully, making enough $$ to live on. You would also need a work permit and have a captains license have liability insurance etc. in addition to buying a NEW LARGE boat since people don't charter old boats and captained cruises are only successful in large cats (40+feet) and monohulls (45'+). If you can afford the 300-500 grand to buy such a boat then go for it but understand the annual maintanence will average $30k and that the boat will lose value each year and be worth 1/2 of what you paid for it in 7 years while the maintenance costs rise. Then there is hurricane insurance...then there is marketing so that people know you exist and might consider you instead of the big companies that are so well equipped to make trip planning a one stop shopping experience...etc. etc. etc.
There is a reason the major charter companies do NOT own the boats they charter. They figured out long ago that using other peoples boats is the smart thing to do.
I could go on further...but hope you get the picture.

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post #8 of 9 Old 07-14-2009
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Quote:
Originally Posted by spacefight View Post
your depth of knowledge is astounding!
Since you are new here you will eventually find out that cam's knowledge is quite astounding. He was just to the point. Don't think you are the first to ask the same questions....BEST WISHES in figuring out what to do. Do some extensive reading here by doing a search, and you will see the odds are against you. Not impossible, just improbable for you at this point in your life. ......i2f

20 MPH ain't fast unless, you do it in a 1000sq 3/2 house on 10foot waves
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BORROWED, No single one of us is as smart as all of us!
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post #9 of 9 Old 07-16-2009 Thread Starter
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Originally Posted by imagine2frolic View Post
Since you are new here you will eventually find out that cam's knowledge is quite astounding. He was just to the point. Don't think you are the first to ask the same questions....BEST WISHES in figuring out what to do. Do some extensive reading here by doing a search, and you will see the odds are against you. Not impossible, just improbable for you at this point in your life. ......i2f

i know, i was just joking around. thanks for the advice. i'm just dreaming at the moment, but dreams are the first step towards actions! first things first, i'm gonna take some lessons and get my feet "wet"
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