Time for me to get another boat!

vas

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Re: Time for me to get another boat! - shared ownership

I would not worry about this post been too long,. I guess it has a very long way to run yet,. OP first needs to find a likeminded equally decisive partner before the next step can be taken, so watch this space.

I'd hope that the other partner is slightly more decisive or we'll be reading this thread during coming winter :p

cheers

V.
 

vas

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Re: Time for me to get another boat! - shared ownership

Surely you mean decade?:)

I'm polite and don't forget I started a six month rebuilt almost 5yrs ago, so not really the one to speak here :rolleyes:

comeon Pete, show us that you can really do it!
I wasn't pushing before as he wanted a sportscuriser for the Med, but now that he's seen the f/b light I can start working :D

V.
 

rafiki_

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Re: Time for me to get another boat! - shared ownership

I'm polite and don't forget I started a six month rebuilt almost 5yrs ago, so not really the one to speak here :rolleyes:

comeon Pete, show us that you can really do it!
I wasn't pushing before as he wanted a sportscuriser for the Med, but now that he's seen the f/b light I can start working :D

V.
:D
 

longjohnsilver

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Re: Time for me to get another boat! - shared ownership

I'm polite and don't forget I started a six month rebuilt almost 5yrs ago, so not really the one to speak here :rolleyes:

comeon Pete, show us that you can really do it!
I wasn't pushing before as he wanted a sportscuriser for the Med, but now that he's seen the f/b light I can start working :D

V.

Excellent! Pete, where in the Med will you base the boat?
 

itspaul

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Re: Time for me to get another boat! - shared ownership

I have been following this thread with interest as I have just gone through the the same process we sold our old boat 3 years ago and last summer a friend who had a boat next to ours suggested we buy another boat between us.Well after chatting there was another interested party so we decided the three of us would share a boat based in Majorca. After planning a trip in Dec last year for 5 days we looked at sports boats and flybridge boats, we finally decided on a targa 43 which we did the deal on before we came home we also arranged a berth in alcudia subject to the survey being ok . Everything went ok and it has now just been out of water for winter maintenance new covers and an interior freshen up its now sitting on its berth waiting to be used . It has been a fairly painless experience thanks to some reliable people we know on the island and Jimmy from fairline south Majorca who is great to deal with.
 

meracus

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Re: Time for me to get another boat! - shared ownership

+2 on jody of fairline south mallorca as well , he went the extra (nautical ) mile , to look for a boat , get specs , arrange viewing , do reality check :) and follow up on absolutely everything , boat..... mallorca .... jody !!!! if only all brokers in the med where like him
 

petem

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Re: Time for me to get another boat! - shared ownership

I hope a few comments about shared ownership might be worthwhile. I have never shared a boat but I have been a member of two light aircraft groups. Shared ownership is very common in the UK light aircraft world. Pick up any issue of "Pilot" magazine and there will be lots of adverts from people selling shares. Here are my thoughts:
1. My favourite period of aircraft ownership was when I had my own plane, but that was because I was flying extended trips a long way from home. My wife and I personally wouldn't want to share our boat but that's because we want to keep moving to different places. For a boat that is going to be based in one place and make excursions of up to a fortnight I think shared ownership could work.
2. Personal relationships are vitally important. The two groups I belonged to were very careful to interview and seek references on new members. Joining was a bit like applying for a job or a house rental. Carelessly run groups who take anyone who has a PPL and the money to buy a share often founder.
3. Combination of 1 and 2: members have to share the same aspirations about how the boat is going to be used and the interview process must dig deep to make sure everyone truly agrees about this. As an aside I met some lovely people in the groups I belonged to. I don't see why people sharing a boat shouldn't become friends too.
4. Aircraft groups have a tried-and-tested method of dealing with money. They charge members an hourly rate using the Hobbs meter which covers expenses that build up by the hour, and may be "wet" (include fuel) or "dry" (fill the tank yourself after every booking). There is also a monthly charge which covers standing costs like hangarage/tie-down and insurance, but also (this is vital) includes contributions to what is usually called the "engine fund". For a boat group you could call this the "sinking fund" :eek: but I wouldn't advise that. Seriously, the aim is to have money in the kitty for big expenses like planned engine maintenance AND some cash to pay big unexpected bills. Nobody likes receiving a demand for a big payment out of the blue. If I was starting a boat ownership group from scratch I'd want some money in that fund from day one.
5. You must have a written agreement. The Popular Flying Association used to publish a standard draft - perhaps their successors the Light Aircraft Association still do? But don't rely on lawyers to sort out any future problems, they will often make things worse not better. Include a provision for arbitration of any disputes by an experienced independent person with genuine current boating experience, a crystal-clear process for winding up the group including payment of on-going expenses while the boat is on the market, and make the agreement subject to English law.

There's a lot more I could say but this post is already too long. I think there's a lot of scope for shared boat ownership if it's done right. Perhaps the magazine could kick-start this by running an article and starting a classified ads section for boat shares?

Thanks. MBY did an article on boat sharing a year or so ago and the consensus among owners suggest that it works well. These guys http://www.mallorcaboatshare.com/ appear to have it sussed but I need something cheaper. They've also got a sensible agreement in place - http://www.mallorcaboatshare.com/wp...nny-Days-Syndicate-Agreement-Website-Copy.pdf.
 

petem

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Re: Time for me to get another boat! - shared ownership

I have been following this thread with interest as I have just gone through the the same process we sold our old boat 3 years ago and last summer a friend who had a boat next to ours suggested we buy another boat between us.Well after chatting there was another interested party so we decided the three of us would share a boat based in Majorca. After planning a trip in Dec last year for 5 days we looked at sports boats and flybridge boats, we finally decided on a targa 43 which we did the deal on before we came home we also arranged a berth in alcudia subject to the survey being ok . Everything went ok and it has now just been out of water for winter maintenance new covers and an interior freshen up its now sitting on its berth waiting to be used . It has been a fairly painless experience thanks to some reliable people we know on the island and Jimmy from fairline south Majorca who is great to deal with.

Interesting. Instinctively three people feels like a good number in a syndicate. T43 is a Med classic too. If it's not a rude question, what do you project your annual costs to be?
 

TwoHooter

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Re: Time for me to get another boat! - shared ownership

Interesting. Instinctively three people feels like a good number in a syndicate.
It all depends on how much use individual members want to make of the boat. In a group with 3 regular users, each booking a week or long weekend every 6 weeks on average, you could easily accommodate a fourth member who only wanted the boat for a fortnight's holiday and a couple of long weekends each year. That would reduce the standing monthly charge per member from 33% of costs to 25%, quite a big reduction. One of the aircraft groups I was in had 4 members and that worked well, partly because the group organiser always tried to have a mix of employed, retired, and self-employed members. When I was in the group the 2 employed members had lots of weekend free time and annual holidays arranged in advance, the retired member was very flexible, and the self-employed member showed up once in a blue moon because they never had much free time at all.

An interesting question is the trade-off between use and longevity which I think is a bell curve. At one extreme an unused marina queen rots, and at the other extreme a charter boat only lasts a few years before it needs a refit. The trick will probably be to set a group up so that the boat is used regularly, but not worn out too soon.

BTW there are cheap (or even free) online booking systems you can use so there is no need for constant phone calls to establish whether the boat is available.
 

petem

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Re: Time for me to get another boat! - shared ownership

Thanks, I wonder if a smaller number of members creates more of a feeling of ownership? I can't help thinking that an 8 person syndicate might feel a little too much like a charter boat. And would make spur of the moment trips nigh on impossible.
 

DougH

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Re: Time for me to get another boat! - shared ownership

Pete,
Why not consider chartering the Targa that Boats UK have for rental in Cala d'Or.

Even if you only have it for a long weekend it will enable you to satisfy yourself that you really do want another boat.

I'm sure Boats UK would be generous to you in view of all the support you gave them when they were Fairline agents.
 

benjenbav

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Re: Time for me to get another boat! - shared ownership

I think if the ownership group consisted of three parties it would make sense to have a slightly bigger boat so that each of you had some dedicated space to leave some personal belongings on board which were out of the way of the next users.
 

Whitelighter

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Re: Time for me to get another boat! - shared ownership

I think if the ownership group consisted of three parties it would make sense to have a slightly bigger boat so that each of you had some dedicated space to leave some personal belongings on board which were out of the way of the next users.

What, like say - I dunno, 15 metres ish...
 

petem

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Re: Time for me to get another boat! - shared ownership

I think if the ownership group consisted of three parties it would make sense to have a slightly bigger boat so that each of you had some dedicated space to leave some personal belongings on board which were out of the way of the next users.

Keeping cost down is pretty imperative so I don't want to go larger than 40ft. As well as Az39, a Phantom 40 Mk2 at the £120k price range had been suggested to me which would be good.

What's the etiquette for leaving stuff on board when sharing? I don't really want to put up with other people stuff but it would be handy to be able to leave a holdall containing some of our gear in a lazarette. This should be doable in a three way syndicate shouldn't it?
 

rafiki_

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Re: Time for me to get another boat! - shared ownership

Keeping cost down is pretty imperative so I don't want to go larger than 40ft. As well as Az39, a Phantom 40 Mk2 at the £120k price range had been suggested to me which would be good.

What's the etiquette for leaving stuff on board when sharing? I don't really want to put up with other people stuff but it would be handy to be able to leave a holdall containing some of our gear in a lazarette. This should be doable in a three way syndicate shouldn't it?
In the Az39, there are a couple of large storage lockers under the main cabin mattress, I would think more suitable than the lazer, where you might want to store shared "toys", access to batteries, keep cleaning stuff/tool kit etc. Possibly the same in the Fairline, but I have no knowledge of the layout.
 
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