Thinking outside the box on such a ugly day! I have a 2007, 31 contender with twin 250's with title in hand! Might have 500 hours on her,she's a fishing machine and really do enjoy what little time I get to go! Just wondering if 1 or 2 persons out there would like to step up and form a true legal LLC on my boat and trailer? ,so someone can also enjoy when I'm unable to go! Just curious and throwing it out there,message me if interested? I do not wish to completely sell out,or be without a boat!
Great idea in theory however most of us want what we want when we want it. This normally leads to difficulty trying to form partnership like this. It would involve more than just "when you can't use it". You would be giving up the percentage you sold off 1/2 would lose half use of boat, but also gain split repair, dockage, ect.
Good luck!
I tyhink you have a good idea, most of us will never wear a boat out, time will wear them out.
Partners are good for two things & one of them is dancing ........ learned this from a wise man many years ago .
Owned a utility trailer for trailering Harley's with a doctor, never had a problem because his practice demanded most of his time & we did not have much invested in it ( less than $1200. ).
When it came time to sell it, I had to buy him out to get his name off the title. Worked out fine, but not sure it would with owning a more expensive investment ..........
Have been involved with several LLC that could have gotten very ugly if everything was not spelled out in our agreement. Key man insurance was a major headache, too ....... ICM
What's the difference between a partnership and a marriage? You can divorce your wife.
No offense, but I can hear the bullets flying with this.
A better option may be yo find a charter captain. and work out a business deal with him. Make it a real business that you have control over. Very few partnerships work out.
Seawalker57, great thought!
Sent you a PM, but now I see you are in Morehead.
I had a Business Law book from the late eighty's that stated "a partenership is like a marraige you get all the headaches with no sex", trust me their is lots of things in life (and on a boat) you can screw up on you own, you sure don't need someone by contract to help you along.
Thanks for all feed back on partnership of a boat, I have had several partnerships without any issues! Guess I have been lucky! I'm very laid back and it's still available,if someone is interested! PM me, if you have any interest! Can be a win win,instead of a bunch of negative past partnerships
Thanks for all feed back on partnership of a boat, I have had several partnerships without any issues! Guess I have been lucky! I'm very laid back and it's still available,if someone is interested! PM me, if you have any interest! Can be a win win,instead of a bunch of negative past partnerships
I agree, I have had partnerships in boats with 3 different people and has always worked out. Just wish you were a little closer!
I partnered up with Ricky Holden a few years back on the Reely Miss-behavin and we have twice the fun at half the cost.Its not for everyone but works for us.
RAC
There are other plus,s beside the money If one has to work late the other can pick up the slack . Spliting the work is as helpful as spliting the money.
rac
I have been thinking this about for a long time, since I have not located anyone that I can fish with or vice versa, except my wife. It is virtually impossible to find one who knows fishing and wants to fish.
After lots of LLC research and the like, I am thinking of a "Coop". I own the boat and slip-- no trailering. The Coop would consist of select folks who pay into the coop in exchange for a certain number of trips, an an annual basis. How I define "select" is where I am at now. Lots to still work out on this. Note this is differnent from many similar ideas (one in wilmington 2 yrs ago) that have failed. When I am ready, It will be a good deal for someone or possibly a OUPV capt who wants to fish vs wants to be taken fishing.