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Go Back   SailNet Community > On Board > Boat Review and Purchase Forum > Looking to find large group to buy boat
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Thread: Looking to find large group to buy boat Reply to Thread
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Topic Review (Newest First)
02-01-2013 02:52 PM
miatapaul
Re: Looking to find large group to buy boat

Quote:
Originally Posted by jameswilson29 View Post
So what would be your role? Who will be managing this set up?
My guess is to make money. I would consider a "club" type service with several boats but this sounds like a real mess. How much time could you possibly get on the boat? And if it is one boat I am sure all the holiday weekends would be booked up for the life of the boat for the first day.
01-30-2013 08:00 PM
jameswilson29
Re: Looking to find large group to buy boat

Quote:
Originally Posted by joseph221980 View Post
I'm looking for 20-25 people that wants to go in and buy a new or newer sailboat. Since there would be so many owners it would be good to make some groups. I'm looking for a 35-45ft beneteau or Jeanneau. I'm also open to finding 4-5 guys and looking for one that some one already owns and seeing if they want to lease. Put the boat somewhere on the east coast. Send me a message if your interested.
So what would be your role? Who will be managing this set up?
01-30-2013 07:51 PM
seaojoe
Re: Looking to find large group to buy boat

'partnerSHIP, the only SHIP that doesn't float'

repeat by # of partners.
01-28-2013 01:27 PM
chef2sail
Re: Looking to find large group to buy boat

2 partners is enough drama. Four or five, I dont have enough hair left to lose over that differing of opinions. Thats four or five people with differing opinons on cleanliness,,,boat maintainence...where to keep it...scheduleing....NO WAY.

Good luck. Go charter somewhere
01-28-2013 11:08 AM
svHyLyte
Re: Looking to find large group to buy boat

Quote:
Originally Posted by joseph221980 View Post
I'm looking for 20-25 people that wants to go in and buy a new or newer sailboat. Since there would be so many owners it would be good to make some groups. I'm looking for a 35-45ft beneteau or Jeanneau. I'm also open to finding 4-5 guys and looking for one that some one already owns and seeing if they want to lease. Put the boat somewhere on the east coast. Send me a message if your interested.
Why reinvent the wheel rather than simply looking into/joining one of the existing programs, e.g. Beneteau Fractional Yachting?
01-27-2013 06:38 PM
rgscpat
Re: Looking to find large group to buy boat

Heck, you could perhaps find * hundreds * of people to share the boat if you go to someplace such as Haiti.
01-27-2013 06:26 PM
Shinook
Re: Looking to find large group to buy boat

I'm usually the sole person in the crowd saying "partnerships can work", mostly because I've had positive experiences with them in the past (with airplanes though, not boats). In this case though, I think you are expecting a bit much. The short of it is, IMO you'd be better off buying the boat on a loan, finding 20 people that want to rent it regularly, and rent it out to pay off the loan.

I think you'll be hard pressed to find 20-25 people that want to buy into a boat that they have to compete against 20-25 other people to use. They'd be better off taking their investment and renting someone else's boat, the price would be about the same, they wouldn't have to worry about recurring expenses, and scheduling would probably be easier. You run into all sorts of issues when people put a financial stake into something and they can never use it on their own, not to mention the resource management problems you come into when you have 5 "owners" on the boat all wanting to operate it differently.

Also, keep in mind that when partnerships run into roadblocks, whether with 2 people or 50, it's the shared assets that suffer. I can take you to our local airport or marina and show you plenty of boats and airplanes rotting because their owners couldn't agree or get along. The chances of this type of situation happening increase with the number of people in the partnership, as finding that many people who are willing to agree on how things should be done becomes more difficult.

I should also point out that on more expensive boats, repairs and parts are more expensive. If you buy a $100k boat with a $4k buy-in, you are going to eventually run into problems where repairs have to happen, but the owners got in over their heads and can't afford it. The effect of this is compounded if the owners haven't been able to use the boat they want to.

In my situation, I had a group of 4 partners who owned an airplane. We all agreed on how things should be done, we worked well together, our scheduling went great, and we generally enjoyed being around each other. We had awkward moments and disagreements, but the partnership succeeded because we had a strong enough relationship to make it work. We knew each other beforehand and spent a lot of time nurturing that relationship though. There is no way you'd accomplish that with 20-25 people.

Just my advice. I'd sell 1/2 my boat in a heartbeat if I knew someone that would buy it, not for the money but for the relationship that comes out of it, but these things get tricky and they get trickier with more money and more people.
01-27-2013 06:09 PM
brokesailor
Looking to find large group to buy boat

Too many roosters in the hen house. That would be too many captains.
01-27-2013 05:56 PM
benesailor
Re: Looking to find large group to buy boat

You'll need a good lawyer.
01-27-2013 05:55 PM
joseph221980
Re: Looking to find large group to buy boat

Not if you got 4-5 owners on the boat at once.
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