Does the Charter Biz work like Trucking?

[Uricanejack]

I looked long and hard at the options for chartering as a means of affording a nice new yacht.
To put it simply the numbers just do not add up.
As far as i could figure out there is no option which will pay the cost of the boat.
No bank will lend you money to by a boat relying on charter income to qualify.
Moorings had a program where you could pay a lump sum up front and have the boat free and clear at the end but the lump was a big lump.
I could have financed the lump by equity on my house. a lot of other people thought that was a good idea fortunatly i did not.
In the end I spent less than half of the lump and bought an older boat about the same sise I was thinking off.
I don't owe a dime on it. I will still have lots of expenses.
Main reason did not go for sunsail mooring was I wanted to sail closer to home.
Unfortunatly chartering localy has a much shorter season. so much less opertunity to make revenue.
Odly the only succesfull local boats were old. beaters quite cheep rented cheep to sailing school graduates.
Old, small, cheep, low overhead. makde small proffit.
nice new bigger. had a tough time covering cost of mooring insurance maintanance and a bit towords payments.