Newbie Advice - Multiperson boat ownership
 

Greetings,

I've always wanted a boat and was considering it. Looking at the
costs of boats I was considering a used one. The cost of maintenance
and all of that it looked expensive and I'm sure it will be. Some
people I work with were also interested so we thought about going in
together and buying a boat and sharing the total costs of ownership.

I would like to know if anyone is doing this or has done it that has
some thoughts to share on the subject. I did a search on it here but
didn't turn up much useful results. Any positive and negative
experiences before I jump into this? Any pitfalls I should know about
before buying a boat multi ownership or not?

If it makes any difference we were thinking about a 27' sport cruiser.

I would appreciate some insight thank you very much in advance!

Bluemac

Newbie Advice - Multiperson boat ownership
 

Sharing ownership with friends or co-workers might not be a good idea..

This has to be a business relationship and can easlily become a disaster if
one or more partners cause problems..

If you and any of the other have never owned or operated a boat before, then
there is going to be problems.. First, a boat takes a lot more work than
just launch and recovery.. The first season on a new boat may seem
relatively cost, labor and maintenance free, but each year, these factors go
up.. Especially if they are neglected..

If your going ahead with this, I recommend you put together a partnership
agreement with the help of an attorney.. Cover all possibilities of one or
more partners being totally in competent jerks. You can bet that eventually
there will be..

Have I tried this? Nah! I have enough problem dealing with family/friends
who are guest..


--
My opinion and experience. FWIW

Steve
s/v Good Intentions

Newbie Advice - Multiperson boat ownership
 

Sharing ownership with friends or co-workers might not be a good idea..

This has to be a business relationship and can easlily become a disaster if
one or more partners cause problems..

If you and any of the other have never owned or operated a boat before, then
there is going to be problems.. First, a boat takes a lot more work than
just launch and recovery.. The first season on a new boat may seem
relatively cost, labor and maintenance free, but each year, these factors go
up.. Especially if they are neglected..

If your going ahead with this, I recommend you put together a partnership
agreement with the help of an attorney.. Cover all possibilities of one or
more partners being totally in competent jerks. You can bet that eventually
there will be..

Have I tried this? Nah! I have enough problem dealing with family/friends
who are guest..


--
My opinion and experience. FWIW

Steve
s/v Good Intentions

Newbie Advice - Multiperson boat ownership
 

Look at http://www.psboats.com. An iteresting approach similar to airplane
sharing agreements. It might be worth looking at an LLC instead of a
partnership.



"BlueMac" wrote in message
om...
Greetings,

I've always wanted a boat and was considering it. Looking at the
costs of boats I was considering a used one. The cost of maintenance
and all of that it looked expensive and I'm sure it will be. Some
people I work with were also interested so we thought about going in
together and buying a boat and sharing the total costs of ownership.

I would like to know if anyone is doing this or has done it that has
some thoughts to share on the subject. I did a search on it here but
didn't turn up much useful results. Any positive and negative
experiences before I jump into this? Any pitfalls I should know about
before buying a boat multi ownership or not?

If it makes any difference we were thinking about a 27' sport cruiser.

I would appreciate some insight thank you very much in advance!

Bluemac

Newbie Advice - Multiperson boat ownership
 

Look at http://www.psboats.com. An iteresting approach similar to airplane
sharing agreements. It might be worth looking at an LLC instead of a
partnership.



"BlueMac" wrote in message
om...
Greetings,

I've always wanted a boat and was considering it. Looking at the
costs of boats I was considering a used one. The cost of maintenance
and all of that it looked expensive and I'm sure it will be. Some
people I work with were also interested so we thought about going in
together and buying a boat and sharing the total costs of ownership.

I would like to know if anyone is doing this or has done it that has
some thoughts to share on the subject. I did a search on it here but
didn't turn up much useful results. Any positive and negative
experiences before I jump into this? Any pitfalls I should know about
before buying a boat multi ownership or not?

If it makes any difference we were thinking about a 27' sport cruiser.

I would appreciate some insight thank you very much in advance!

Bluemac