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Re: advice/suggestions sought


[ Follow Ups ] [ Abaco Message Board ]

Posted by Eva on September 08, 1999 at 11:31:14:

In Reply to: advice/suggestions sought posted by greg on September 07, 1999 at 18:17:37:

Have you considered buying a boat and putting it in charter service? My husband and I are in the preliminary stages of deciding whether to do it ourselves, and right now are reading just the rosy-sounding ads. But if there's anything to it, it could be the best of both worlds. Since most charter companies' boats are owned by people like us, it must work, right?. The way I understand it works is thus: you come up with a down payment for a boat, and sign a contract with the charter company, which maintains, repairs and insures it while chartering it out to its customers. Depending on your deal, you either share in the profits or the charter company actually pays your note during this time. While in charter service, you get use of the boat (or comparable boats) for 4-10 weeks a year, and many companies let you use boats at all of their bases. At the end of the contract, the boat is yours. Thus, for the price of the down payment, you own a boat and someone else takes care of it (someone who has a business interest in taking GOOD care of it). Maybe its too good to be true (I intend to find out, but am taking my time), but perhaps worth considering. Anyone have anything to add?


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