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#11
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Buying first boat w/ 3 partners ?
"BooBoo12321" wrote in message Water skiing implies at least two other persons along with you. Can't you do it with one other person? WHOA!!!! We better clarify that one. When I said "...at least two other persons along with you...", I meant you, as the driver, and one skier and one observer -- two others. When you said "...Can't you do it with one other person?...", what, exactly are you meaning? Just driver and skier? JG |
#12
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Buying first boat w/ 3 partners ?
The originator of this thread clearly has very little to no knowledge of
boating. He has decided to do something and seeks approval here. It's an absolute waste of time to attempt to change his mind. Like most of us he needs to learn his own lessons. I wish him luck as he will certainly need it and it's my wish that all folks on the water enjoy the experience. Butch |
#13
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Buying first boat w/ 3 partners ?
I've seen this done more than once and rarely has it worked out.
"BooBoo12321" wrote in message .net... Excellent points. Thank you. Are you and all your partners able to boat on weekdays as easily as weekends? Consider schedule snafus oriented around weekends. I will be taking the summer off, so I'll have all the weekday time I want. During summer, one could theoretically break each evening into 2 shifts....5-7pm & 7-9pm. So 10 weekday shifts, and maybe 10 more on the weekend... With some scheduling, I think there's plenty of time for every to use the boat. Besides, the partners are personal friends, and we would be boating together often. Water skiing implies at least two other persons along with you. Are your friends and family able to boat on weekdays as easily as weekends? Consider schedule snafus oriented around weekends. Can't you do it with one other person? Yes, I can find people to go with. Recall, the partners are personal friends, and we would be boating together often. |
#14
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Buying first boat w/ 3 partners ?
"L. A. Powell" wrote in message news:ugS%a.141187$Oz4.31995@rwcrnsc54...
Never partnered on a boat, though I did do so with a couple of airplanes. These tips should work for boats as well. Form a partnership - easy enough to do, with proper incorporation papers, checking account, etc. Agree on a "rental rate" and assess partners for usage hours. The assessment should be enough to cover dockage or storage fees, usual and ordinary maintenance, etc. An hour meter will give usage; a mandatory log will let the treasurer know who and how much to bill each month. Each partner should be assessed an equal amount to make the boat payments, insurance, and other fixed costs. Anticipate building an escrow for big expenses like a blown engine or other major repairs. Sound like the right idea. We are already seeing the posts to this thread about how partnerships never work. I grew up with airplanes in my family. The first two planes were shared among three partners and the last was shared by two. It is not uncommon for planes to be owned by private partners - and it works fine for lots of them. Why can't it work for boats? Maybe aircraft owners are generally smarter than boaters and can make realistic agreements they can live up to. I don't know... Maybe its that a lot of boaters are too emotional about their boats ("It's my boat"). While pilots love their planes, perhaps they are more able to separate the "emotion" of ownership with the "business" of ownership. Don't go into a partnership think that it will reduce the cost of ownership to a small fraction of sole ownership. For exmaple - If I bought a boat with two other parties, I would expect (off the top of my head) to save 40% (maaaaybe 50%) off the total cost of owning the boat alone. As pointed out, certain maintenance items that many owners may do themselves might be better "contracted" out in a partneship. Avoids the problem of one or two partners feeling like they do all the work. These are things that raise the overall ownership cost to the partnerhip, but you still realize significant savings individually when you divide the costs out. (I think I could quickly get past the scheduling issue, if I could save a significant amount of money on the boat ownership and not have do so much maintenance.) "Jim Donohue" wrote in message news:7FQ%a.1103$n94.336@fed1read04... I am not a small boat guy so I will leave those questions to someone who knows something. I do however have a good bit of partnership experience. First decide how the partnership ends. How many partners to end it and how to do it...Get that in place before you buy anything. Second decide how a partner leaves. Do he sell his share or simply walk or... Third decide how costs are divided up and paid. Note that this is related to prior and next item. Have clear plans for repairs and maintenance. Unless someone is well suited to the role pay an outsider to do them. More expensive but it vastly limits partnership friction. Fourth decide how the boat is scheduled. I recommend a regular schedule of "ownership" with the owner allowing other partner usage as he sees fit. Fifth - Write it all down. You will be sorry if you don't...and it may well cost you a friend or a lot of money. Jim "BooBoo12321" wrote in message . net... |
#15
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Buying first boat w/ 3 partners ?
Please take a boating safety class.
There are a lot of safety items that probably won't occur to you, this is one of them. You have to have an observer in the boat, watching the skier (or tube or whatever watertoy you're towing). So, 3 people to ski. "BooBoo12321" wrote in message .net... When you said "...Can't you do it with one other person?...", what, exactly are you meaning? Just driver and skier? Yes. |
#16
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Buying first boat w/ 3 partners ?
"BooBoo12321" wrote in message When you said "...Can't you do it with one other person?...", what, exactly are you meaning? Just driver and skier? Yes. Bad plan. There are few things you can do with a boat that have more potential for disaster. Please -- you and your partners, take a boating safety class. Look in your area for either the US Coast Guard Auxiliary or the US Power Squadron. Their classes are basically the same, both are comprehensive, both are inexpensive. And, you'll learn a few things. Good Luck! JG |
#17
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Buying first boat w/ 3 partners ?
Thanks for the tip.
I'll definately take a few classes if I ever get a boat. Please -- you and your partners, take a boating safety class. Look in your |
#18
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Buying first boat w/ 3 partners ?
On Sun, 17 Aug 2003 18:32:22 +0000, BooBoo12321 wrote:
(Donno about the partnership thing - sounds like a Bad Idea to me) For now, we are looking at 19-22 foot Bowrider. Basically to lounge around on for a few hours at a time...Maybe try some water-skiing. Also, we aren't that boat savvy, and all fairly busy with careers, so we don't want a repair lemon... Is it better to pay more up front, and get a nicer, newer boat, rather than find a perceived deal, and start pouring money into some old boat (and end up spending just as much , if not more) New boats are rarely more reliable than older boats. You can get Nice ones or Lemons both ways (older boats usually have the "bugs" worked out of them. New boats have warranties, but you still have to get them towed in and get them to the dealer) I was told by an avid boatman to avoid mass produced boats, such as Bayliner, SeaRay, Maxum, etc... These are the style of boats you should be looking at. He said these boats are not well built, and the mechanics he spoke to are always fixing these.... Instead , he said to find a boat like: Grady White, Boston Whaler, Pursuit, HydraSport, ProSport, Edgewater.... What do you think of this? Nice boats, but not for putting around a lake or water-skiing. As someone else said, it's the engine, not the hull, that needs to be reliable, and chances are these boats use the same engines as the Bayliner/Searay/Maxxim Also, he said it is MUCH better to get a fully outboard motor. Much easier to service. Do not get I/O or inboard. They are much more troublesome....He also said try to get a Jap. motor, like Yamaha, Honda, Nissan.... Disagree. The actual I/O part (the "outdrive") can be troublesome, but I feel the engines of an I/O are at least as reliable as an outboard, probably more so. I have the same engine as the Mercruiser V6 in my van, and it has 230,000 km and going strong. And they're easier to work on on the water! Best option is a true inboard, but hard to find in a boat that small. Also, at 19-22ft you're getting to the upper limit of outboards. You'll want close to 200hp, and the 200hp outboards are new, expensive and heavy. I/O engines pretty much start at 200hp and go up from there. Get at least a V6 (200-230hp) or a small V8 (around 250hp or so). Lloyd |
#19
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Buying first boat w/ 3 partners ?
Personal recommendation: Take the basic class before you buy the boat so
you'll at least have some idea of what you're in for ahead of time. "BooBoo12321" wrote in message .net... Thanks for the tip. I'll definately take a few classes if I ever get a boat. Please -- you and your partners, take a boating safety class. Look in your |
#20
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Buying first boat w/ 3 partners ?
"BooBoo12321" wrote in message v.net...
Don't go into a partnership think that it will reduce the cost of ownership to a small fraction of sole ownership. For exmaple - If I bought a boat with two other parties, I would expect (off the top of my head) to save 40% (maaaaybe 50%) off the total cost of owning the boat alone. 50% is a large fraction!! But to save that 50% you are sharing with two other parties. Some may go into a partnership with one other party and think their cost will be cut in half. Or go in two other people and think that their cost would be on third that of sole owner ship. A successful partnership may have higher overall costs that need needed to be divided - that was my point. certain maintenance items that many owners may do themselves might be better "contracted" out in a partneship. ALL work would be contracted out, b/c we have no boat knowledge. |
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