Thoughts about a long term charter on a friends Lagoon

[Robert84]

Hi everyone,

so i have a question about whether or not this is a good idea or not.

A friend of mine owns a Lagoon 420. I've sailed with the boat a few thousand Nautical Miles and amongst other things across the Atlantic in 2016.

The Boat is now in charter in Cuba and he wants to sell it but it´s not working very well.

So the other day a asked him how much money he is getting from the charter. And he said around 20k Euro per year. So i asked if it would be an option for him to get it out of the charter and lend it to me if paid the 20k for a year. And he said that this would be possible.

So my plan would be to charter out cabins for a few weeks for maybe 600€ per Week to get the money and do a season of cruising around the caribbean.

What do you guys think? What am i missing? Doesn't it sound like a good idea?

Greetings

[lesliehand]

We are looking for a long term charter ourselves - preferable in Bahamas. If this is something they would consider doing rather than putting their boat in a charter fleet this year, let us know. We have flexibility around timing if your thinking about cruising the bahamas yourself for part of the season, as well. Maybe we could come up with a share arrangements so they didn't have to have more than us 2 folks chartering for the season.

It is just my husband and I, both very experienced boaters. I ran a 70' schooner charter in Australia and have my captain's license through RYA. We are thinking about buying a Catamaran, so would be interested in a long term / winter charter of either a catamaran, but would consider a monohull.

[sv Stella Maris]

I’m amazed this post didn’t get blasted like normal with doomsdayer’s.

Sounds okay if:

1. His insurance will underwrite you; or you get your own.

2. You don’t plan on paying for maintenance out of charter revenue that will be likely insufficient.

3. You are willing to walk away from this friendship over a boat (too doomsday-ee? Had to throw that in, hehe)

[Kenomac]

I would expect it’s going to cost you more than 20k euros, since you’d need to pick up the repairs and maintenance costs just like the charter company. Things do break and then there’s the cost to keep it up by fixing things and preventative maintenance like a good charter company would do.

Maybe your friend forgot to mention this.

[ranger58sb]

Originally Posted by Robert84

So my plan would be to charter out cabins for a few weeks for maybe 600€ per Week to get the money and do a season of cruising around the caribbean.

Probably need licensing to carry paying passengers... if you don't have that.

-Chris

[StuM]

Originally Posted by ranger42c

Probably need licensing to carry paying passengers... if you don't have that.

-Chris

And all sorts of other paperwork for both the vessel and the skipper depending on where it will be based and where it will be cruising.