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Old 10-04-2013, 06:35   #1
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Join Date: Mar 2013
Posts: 97
Looking for frac. ownership opportunities (or partners) in USA (East Coast)

I've been running some numbers to see if some friends and I can go in together on a used Orana 44. Looks promising, except that some of my partners may not be able to swing it.

So I thought I might see if anyone here might be interested and/or is looking for the same. The basic deal on an Orana looks somewhat like this (if based in Annapolis, MD) using a price of $300k for the boat:

1. Deposit needed: 20% ($60k)
2. Annual loan payment: $18,000
3. Operating expenses (est): $10,000
4. Charter income (est): $18,000

So it would cost about $10,000 per year to own the boat.

Split three ways that means $20k down and $3,333 annual (~ $278/mo)
Split four ways it would be $15k down and $2,500 annual (~ $208/mo)

Of course there are many other details to iron out, but the above is a rough overview of costs.

On my end, I'd be interested in signing up for anything in the neighborhood of the above prices and anyplace along the South East coast from NY to FL. The smallest boat I'd be interested in is a 44' cat.

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