[Zoya]

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.

 

[Shinook]

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

 

[Jeff_H]

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.

 

[Zoya]

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.

 

[Seaduction]

Most finance companies would go for a 50% partnership, but wouldn't do any maintenance.

 

[svHyLyte]

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?

 

[Jeff_H]

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

 

[Zoya]

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,

 

[Seaduction]

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.

 

[sparrowe]

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.

 

[Zoya]

Thanks Sparrowe, Pinnacle's leasing program is indeed an interesting one and may fill my needs just fine. Too bad they only have one boat in Annapolis, MD, looks like a great way to go for Chicagoans.

 

[Capn]

Terry,

I tried to send you a PM, but I'm not sure it went through. I'd like to talk to you about this.

Thanks,
David

 

[Zoya]

David,

I tried to PM you too, no luck... Please PM me again with a phone number I can reach you at.

Thanks.

 

[Capn]

I can't send a PM from here. Here's an email address you can use to contact me: buy_down (at) Verizon (dot) net