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Old 30-03-2016, 10:44   #1
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Should I charter

Hi folks,
I have a bit of a problem,being on a limited income my boat is becoming a liability. I need to make it pay for its self to some extent or I will have to sell it. Its a Cross 38. Any suggestions?
Rich
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Old 30-03-2016, 10:52   #2
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Old 30-03-2016, 11:18   #3
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Re: Should I charter

Chartering, of any kind, may not help. You may need to register the business, file monthly tax returns, get commercial insurance, check to see if commercial use of your slip/mooring is even allowed...all that stuff. Plus, chartering isn't a guaranteed thing although the expenses will be.


I'd hate to say "Sell it before you need to take a bath with a fire sale" but the alternative may require lots of time and money.
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Old 30-03-2016, 11:22   #4
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Re: Should I charter

Besides all the things hellosailor mentioned, if you are aboard for the charters, you will need a Coast Guard license.

Probably not worth it.
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Old 30-03-2016, 20:06   #5
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Re: Should I charter

Rich,
Do you know Maui, the kite boarder who lives on a trimaran on Oahu?
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