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Old 12-09-2009, 12:32   #1
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Cruising Partnership for 45'+ Cat ?

Seriously considering a partnership for a 45-55 foot cat.
Ideally we would be on board 4 to 6 months a year. This would be a cruising boat not parked in any one place. It seems to me that like minded partners with the same ideas toward maintenance upgrading and where to cruise could only be a win-win.

I have owned two cats and two tris over the last 20 years. We have owned a triune tri a new Gemini , a new 46 foot aluminum cat in thailand/Malaysia and we currently own a C-31-R tri with carbon rig and sails.

I think a used cat for 300K-500K is what I am most interested in but I am open. I would like to take advantage of the buyers market and act ASAP.

Any ideas would be greatly appreciated. I am aware that a partnership can go bad if partners are not on the same page. I am not interested in any negative posts so please if you have any good ideas on partnerships jump in.
Thanks,
Don
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Old 12-09-2009, 14:54   #2
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I have given this some thought as well... I guess the parties would need to have a like mind as to where the boat goes... also how it is maintained.. I was in a partnership on an Airplane with 2 other guys... 2 of us had sufficient means to take care of it properly.. when we needed to replace engines, we all agreed except for one who really couldn't afford it.. there has to be a Buy/Sell agreement in any deal so if the parties come to an impasse there is a realistic way out. I ended up buying the others out and then having to sell the bird becuase I couldn't justify it for no more than I was flying at the time... Have you looked at the fractional deals ? They don't really work if you want to cruise the world or be on the boat for 6 mths at a time... I have thought about doing this with a Doctor friend of mine... it makes sense on a lot of levels... Does it matter to you where in the world the boat is when it is your 6mths ? Ever think about year on year off ?

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Old 12-09-2009, 15:19   #3
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Capcook,
Thanks for the reply. I am fairly flexible. It does matter where the boat is as I don't want Jan-June in Alaska. That being said I would love to spend some time again in Thailand the sailing and lifestyle there is just incredible. As for usage again pretty flexible. I am open to ideas the key for me is just what you said a partner or partners who are willing and financially able to keep a boat tip top.
thanks
Don
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Old 12-09-2009, 15:34   #4
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I think you need to box in a location at least to begin with. It needs to start right given real life issues can spin the whole deal on a dime. People like this can have family in serious trouble and can force them to do the other thing because they have to and you could too.

Having been through the other thing with family I know how easy it is when you were not thinking it could happen. It's the real life stuff that can throw you - it could be you too. It's easier to see how the basic stuff works and decide. When you partner, the odds just doubled that something important can come in from the side lines.
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Old 14-09-2009, 13:37   #5
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I am pondering on boat-sharing too.

Initially I would be looking for some Cat with 2-4 weeks a year share. If the family keeps appreciating it, I would be looking after a way to get 3-6 months in a warm climate

I think it could be interesting to form a multi-national boat-share. The boat does not have to sail the same country every summer, and some nice cultural exchanges could come out of it.

Contract wise I would require a hard ball contract assuring proper maintenance and adequate gear and security levels. I could even imagine writing up, that the ship should be sold after X, e.g. 5, years. If things worked out perfectly it would be open to continue of course, but I think it is good to start to craft for a worst case scenario and then hopefully be pragmatic and positively surprised along the way.

A thread on this forum is, of course, a way to try to find like-minded people, but perhaps there is a more permanent tool - a group, forming "friend"-ships (pun intended <.
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Old 17-09-2009, 12:54   #6
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cat I considered for partnership

thanks great replies so far.
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Old 26-09-2009, 20:10   #7
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15 year 4 boat partnership

Just spoke to a gentleman who has been in a partnership with up to six other for 15 years and it is still going strong.
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Old 11-10-2009, 22:22   #8
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I have considered this but I thought I would look locally as I am pretty specific in wanting it in Puget Sound til I retire in a year or two. Then I may decide I want to travel to warmer waters for a while.
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Old 02-11-2010, 15:11   #9
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Partner still wanted

Ready to purchase now. Partners still wanted
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Old 02-11-2010, 15:49   #10
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Quote:
Originally Posted by donphall View Post
Seriously considering a partnership for a 45-55 foot cat.
Ideally we would be on board 4 to 6 months a year. This would be a cruising boat not parked in any one place. It seems to me that like minded partners with the same ideas toward maintenance upgrading and where to cruise could only be a win-win.

I have owned two cats and two tris over the last 20 years. We have owned a triune tri a new Gemini , a new 46 foot aluminum cat in thailand/Malaysia and we currently own a C-31-R tri with carbon rig and sails.

I think a used cat for 300K-500K is what I am most interested in but I am open. I would like to take advantage of the buyers market and act ASAP.

Any ideas would be greatly appreciated. I am aware that a partnership can go bad if partners are not on the same page. I am not interested in any negative posts so please if you have any good ideas on partnerships jump in.
Thanks,
Don
dumbest thing I've ever done - period. don't think about it for a second.
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Old 02-11-2010, 16:00   #11
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The only practical way in my opinion is to form a corporation to own the boat. Then sell shares to the interested "partners." You will have to write a very "tight" contract to ensure that each partner can have a say in who "buys" out an old partner who is no longer interested. You need to contact a good lawyer to write up the legal aspects to protect each partner's interests. Many have done this successfully over the years and the success is directly related to the provisions and "escape" clauses in the contract.
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