Sailboat Partnership?

Discussion in 'All Things Boats & Boating' started by sairane67, Nov 28, 2020 at 8:04 AM.

  1. sairane67
    Joined: Saturday
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    Location: USA

    sairane67 New Member

    I have had trouble finding solid info online about buying sailboats in a partnership. I have seen lots of people do this. Some very successfully. I know two stories of it not working well. I am interested in hearing from people who have done this. Tell me your good stories, bad stories, successes, and failures. I am thinking in terms of a 34-40 ft cruising sailboat/ Price would either be 40 to 60k if we pay cash, or up to around 120k if we get a loan. Would love to form a llc or other partnership to own the boat. Main objectives are to share expenses and the work involv in maintenance/management. I am a lifelong sailor who has owned several smaller boats in the past. I am thinking 2-3 owners. Thoughts?
    Last edited: Nov 29, 2020 at 3:31 AM
  2. bajansailor
    Joined: Oct 2007
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    Location: Barbados

    bajansailor Marine Surveyor

    My parents went into a partnership with a friend 40 years ago, re a steel boat that the friend wanted, but he didn't have enough funds at the time to buy it.
    My folks knew nothing about steel boats then, and trusted that the friend did - turned out that he didn't, and he quickly decided that this was not his dream boat, so he absconded on his previous boat and never returned, leaving my folks with a boat that they knew very little about.
    They liked sailing though, so they kept her for 15 years, spent a small fortune on a couple of re-builds along the way (she had been very poorly constructed from the start), learnt a lot about steel boats (the hard way), and eventually sold her for pocket money.
    A few months later a hurricane came along, the boat was at her mooring, her new owner was overseas and the poor boat dragged ashore - she was later hauled off by a tug and fairly promptly sank, as they ripped off a bilge keel in the process of hauling her off.
    She has now been a nice reef for fish for the past 25 years in about 30' of water (I went looking for her and found her about 20 years ago - it was rather erie scuba diving on a boat that you used to sail on).

    Re official yacht partnerships nowadays - there is quite a lot of info online - google 'yacht fractions'.
    Here is one link -
    Boat & Yacht Shares for Sale and Purchase | Yacht Fractions

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