Somehow the math has gotten goofed up here. The OP stated 24,000, all in, for 5 years @ 4 weeks per year. So, 5 yr X 4 wk/yr= 20 times to use the boat. Then 24,000 divided by 20 times = 1,200 dollars per week of use. Does not include management or turnaround costs.
RSwanson, here is what I would want to know up front:
1. How is it determined who gets what weeks? Is it based on first into the partnership
gets the first choice of weeks? Is it based on whose cheeks get kissed the most? How are the weeks allocated is the deal maker or breaker for me. For example....let's say the boat is in the Bahamas
and the prime sailing season is between November to April. What if you can only get one week during the prime time, what then?
2. You did not mention how many partners are in the group. So, factor that into what your chances are of getting good usage of the boat.
3. How will the pecking order of who gets what week change or not change during the 5 years of partnership
? If you are low man on the stick in year one...you better be first man on the top of the stick in year 2...so on and so on...so that it is fair.
4. Make sure that before you sign a contract
that it is reviewed carefully by someone who understands partnerships. What if the boat is damaged by one of the other partners and you lose your prime time ...what is the recourse? You not only lost
your prime time ..you lost money
for your airline, hotels, loss of vacation
time from work...etc etc...It can get dicey...and pissy in a hurry.