What issues do you see with my plan?

[Hesti]

A strange plan. Caucious folks wouldn't do it, would be afraid of all the potential problems. But you know that already.


So - why not? If you are not to afraid of a disapointment, if you can start over when it doesn't work - why not? If you are flexible enough to adapt plans when they do not work out as planned - why not? If you have a friend with whom this is possible - why not? If your wife shares the dream and is willing to start over if it does not work - why not?

[Shrew]

Originally Posted by Hesti

So - why not? If you are not to afraid of a disapointment, if you can start over when it doesn't work - why not?

Here would be my concern. You've sold your home and business and invested in this plan. You decide you want to back out. Is the partner family going to sell their house to give you your investment money back again?

Will they give you half of their business?

Never mind that you are selling a revenue generating business along with an appreciable asset and investing in a depreciable asset with joint ownership.

[Simon.Sails]

I think the plan is good, but the proposed setup is doomed to fail. Why not keep it simply as a general agreement between friends? One party has the boat, the other has the house. If both parties agreed use of each is swapped. As long as you all get along and everyone's happy no need for complicated agreements.

Whenever you have to write up huge contracts you'll wish to never have to enforce them. I think you'd prefer clear ownership, responsibilities etc. Treat the other party using the boat as a rental contract and you'll be able to easily define terms of use and liabilities. Same with the house, set the rent at a lower price as the boat (no depreciation), treat it like a furnished rental place without changing too much about the furniture etc.

Once one or both parties are unhappy about the arrangement you can stop it without any major repercussions. Just move on, find a new arrangement that works for you and your friend.

[LittleWing77]

Originally Posted by MJH

....since you are talking about your families as well not just you two guys.

As one of the few chicks on this Forum, I love reading plans like this where the two guys have come up with a plan that will uproot 10 other people's lives.

Nobody sails and nobody says anything about what their wives think about it.

Keep us posted, BillyJones, once you've told your wives - or, more importantly, once you've taken them sailing.

Search "Boat Named Sue" on this Forum. Their family experiment started on August 1st, 2019 and wrapped up January 1st, 2020 when they put the boat up for sale, flew back to Seattle, and haven't been heard from since.

Maybe you could buy their boat:
https://www.leopardcatamaransbrokera...ed-sue-6945046

Start slow.

Why don't you start off by doing something revolutionary - like taking a sailing class...?
LittleWing77

[rbrazil]

Originally Posted by billyjones454

Hi!

This last year has motivated me to re-evalute my life, and where I want to be in the near future. And maybe the universe wants me to be on the water because a possible opportunity has presented itself.

A lifelong friend of mine has decided he wants to spend time cruising full time-ish with his 5 kids, and I would like to do the same with my family.

We both own a small business in the same industry. Our idea is that one of us will sell our house and business. Then we will essentially "share" our house, business, and boat. We will "swap" lives every 6 months cruising, and then 6 months working.

Full disclosure: neither he nor I have set foot on a sailboat. We have both spent time traveling/living out of a motorhome. We plan to do several charters and receive sailing instruction in preparation. Right now nothing is set in stone. I am just trying to gather as much information as possible to see if this would work.

So with that in mind - what might pose an obstacle to our plans from the cruising side of things? I don't need advice about relationships, or finances. I'm interested more in logistics of travel, maintenance, insurance, ownership, etc.

Also if you know of anyone that has done something similar, I'd love to know.
Thank you!!

I think your plan is brilliant! Life is short. Don’t listen to the naysayers. Half the fun is figuring everything out, making mistakes, paying for those mistakes, and moving on.

My only advice would be to set up an exit strategy.

Twenty years ago, while sitting on a beach-side barstool in Nevis, I met two gentlemen who did exactly that. They pointed to a beautiful sailboat anchored offshore in which they shared amongst their two families.

These two gentlemen lit the fire in my sailing career.
Go for it!!!!

[wholybee]

I never suggest doing business with friends. As has been brought up, how do you get out? But also lots of other issues. What if it's your turn, and there is some damage that requires the boat be out of use for a while? Who pays, and is it ok if you just skip your turn on the boat? What if you want a new dinghy, and he wants new sails? What if the boat sinks? There are many many ways the plan could go sideways and leave you in court with your friend.

If you own a home and a successful business, you could likely figure a way to do this on your own. Sell the business, rent out the house. Buy a boat with the money from the business, and fund your life from rental income. Or sell the house, and let the business support you. Sell both, and invest some cash. Start a boat oriented business that you can work on while cruising. Buy a boat and put it in charter when you are not using it.

There are *lots* of options, but I would avoid the deal with a friend.

[Chris Cringle]

No matter how many times you charter, chartering is a poor preparation for cruising. The charter company solves the vast majority if not all of the issues and problems of sailing a cruising boat. They solve problems you won't even know you have, until you are on your own boat, in unfamiliar waters or a foreign port. I am not trying to rain on your parade, but a cruising skipper needs to b able to deal with the truth, not wishful thinking.

[PirateGuy]

What’s wrong with your plan?

It’s not cunning enough by at least an enormous turnip named Baldrick.

[RiverRat37]

I trust you see the propensity of comments here run towards -- it might work but more likely it will run up on the rocks, and then what?

In the realm of this sort of: "let's have 2 families that get along fine, share something huge and expensive and affecting all the members of the group" do something together that involves each being exceptionally good at forgiving the others in the group, often. Well ... let's just say it does NOT have a 50/50 chance of succeeding. Not even close. More like 5/95.

Now, some here like the 5%. I like the 5%. But you aren't going to be in the 5%. It's a lot like the lotteries. You COULD win. But you won't.

Better you each get a boat and take your families sailing and go at the same time to the same places (until you don't). They don't have to be big hulking boats. Just enough to get by to make it work. If that goes well for a couple of years, then progress from there.

Sorry to rain on your parade .... but, you asked. Happy to add my 2 cents.

Best of luck to you -- we'll be rooting for you. And here for you if you need support. Fair winds, friend.

[Don C L]

Yeah I think LittleWing brings up a VERY important point.
Now if it works out then I could see keeping the boat in a warm area that is generally out of hurricane areas. But here is another option that may pair with sailing. A friend of mine was talking about retiring a while back and rather than retire and relocate, he was thinking about just taking his retirement and renting homes in faraway lands and when he gets tired of that place he'd pack up and find a new home to rent. Just an idea, and I wouldn't say that is a good plan for kids at all.

[billyjones454]

Originally Posted by RiverRat37

I trust you see the propensity of comments here run towards -- it might work but more likely it will run up on the rocks, and then what?

In the realm of this sort of: "let's have 2 families that get along fine, share something huge and expensive and affecting all the members of the group" do something together that involves each being exceptionally good at forgiving the others in the group, often. Well ... let's just say it does NOT have a 50/50 chance of succeeding. Not even close. More like 5/95.

Now, some here like the 5%. I like the 5%. But you aren't going to be in the 5%. It's a lot like the lotteries. You COULD win. But you won't.

Better you each get a boat and take your families sailing and go at the same time to the same places (until you don't). They don't have to be big hulking boats. Just enough to get by to make it work. If that goes well for a couple of years, then progress from there.

Sorry to rain on your parade .... but, you asked. Happy to add my 2 cents.

Best of luck to you -- we'll be rooting for you. And here for you if you need support. Fair winds, friend.

And the winner of the best comment award goes to... RiverRat.

Thanks everyone for poking a bunch of holes in my dreams! I've lived my life proving people wrong! Maybe it will be you this time.

But seriously, ya'll have given me some good feedback, and that's what I was after, even if the overwhelming sentiment wasn't what I was hoping for. I'll find a way eventually.

[Madehn]

well i had a similar partnership in an airplane once- worked out great- he liked to fly through the week and i wanted to fly on weekends- we each had enough money that we could handle anything the plane needed done- anything over 1k we talked to each other about. our deal was that if someone wanted out of the partnership they named a price for their half-- the other person had the option of either buying the half or saying no - you keep the plane and give me the cash-- kept either one of us from hosing the other- we stayed partners for about six years and never had a harsh word. Key was the fact that the times we each wanted the asset were compatible with each other. we started out with a 28 page agreement, had a drink together, threw the agreement in the trash, shook hands and had a deal. worked for us

[PirateGuy]

For a really cunning plan in swapping a home, business and boat between two families, you should also plan on swapping spouses. And not only in a cis- way.

Now that might be an interesting thread to follow.

[AKA-None]

Sell both houses
Buy a house no larger than the smallest either of you own
It can’t have more bedrooms than the boat you plan to buy
It can’t have more bathrooms than the boat you plan to buy
If it has a garage you can’t use it for storage and nothing can be used if left in a shed or in the yard.

If you can make that work for a half a year or so then you might have a chance

[Group9]

Originally Posted by LittleWing77

As one of the few chicks on this Forum, I love reading plans like this where the two guys have come up with a plan that will uproot 10 other people's lives.

Nobody sails and nobody says anything about what their wives think about it.

Keep us posted, BillyJones, once you've told your wives - or, more importantly, once you've taken them sailing.

Search "Boat Named Sue" on this Forum. Their family experiment started on August 1st, 2019 and wrapped up January 1st, 2020 when they put the boat up for sale, flew back to Seattle, and haven't been heard from since.

Maybe you could buy their boat:
https://www.leopardcatamaransbrokera...ed-sue-6945046

Start slow.

Why don't you start off by doing something revolutionary - like taking a sailing class...?
LittleWing77

We've all seen it. I think the major problem is that the idea of cruising to ar away and exotic places in a boat sounds extremely romantic and attractive in the abstract. It's easy to convinces spouses (and yourself) that this will be the most exciting and fun time ever.

But, then, once you've gone thought a few storms, a grounding or two, cramped living conditions, heat (or cold) and a lot of stuff breaking, often at very inopportune times, and costing a lot of money to repair, and several cases of acute fright and terror thrown in, to boot, then reality soon replaces that abstract notion.

Sometimes that doesn't matter, and other times, it makes people just want off the damn boat.