Go Back   Cruiser Log World Cruising & Sailing Forums > Cruising Forums > The Poop Deck
Cruiser Wiki Click Here to Login

Join Cruiser Log Today

Thread Tools Search this Thread Display Modes
Old 12-07-2009, 10:59 PM   #1
Join Date: Jan 2006
Posts: 2

Hi everyone,

I have question. Is fractional ownership a good idea? I just can't afford to buy a boat at the moment. And as a professor, I only have certain slots each year in which to sail. An company called "Footloose" offers fractional ownership with a guarantee that you can earn some of your payments back when they charter the boat. The fees apparently take care of everything.

Has anyone else tried this option? What advice do you have to this guy who loves to sail but lacks the big bucks to make it happen?



gelkins is offline   Reply With Quote
Old 12-07-2009, 11:42 PM   #2
Join Date: Oct 2004
Posts: 3,067

Had a look at one of their blurbs which was for a Fairlane Squadron 74 - $3,000,000

10 owners each pay in $300,000 for 4 Weeks per year (in the 1st year that amounts to $10,000 per day) The other 4 weeks the company charters the boat out and the profits if any are shared out. What's in it for the company?

Is this system similar to Time Share ?

Not much info provided regarding running & maintenance costs and professional crew that go with the boat.

It could be that there are lots of hidden overheads in the contract that are not revealed up front.

What happens if the company goes broke? Tax? Travel cost to the boat ? Etc......

Maybe the option of chartering a boat for your time slots is one to consider.

MMNETSEA is offline   Reply With Quote
Old 12-07-2009, 11:55 PM   #3
Join Date: Sep 2009
Posts: 151

Originally Posted by gelkins View Post
What advice do you have to this guy who loves to sail but lacks the big bucks to make it happen?
It is clearly a matter of trust. I would be concerned that things are broken in charter more often.

If it is safety gear when needed, you are in trouble.

I would see if they offer remediation for such cases, and check if they have procedures to check the boat when it is back.

You might consider to charter one of their vessels, check the condition of gears, break something, and see if you can get away with it. (Of course remediate them when/if it is obvious they did/didn't notice.)

I was trained on a vessel which was given to charter by the owner. She was in miserable condition. Spinakker lost, motor did not work, and I ended up sealing holes with chewing gum to prevent rain to my bed. I would never give my boat to the hand of those charterers if I had one. Of course it is Wild East, you migh as well find decent and caring people.

I have choosen the other way to have a boat cheaply. Building one.
magwas is offline   Reply With Quote
Old 12-08-2009, 03:04 AM   #4
Join Date: Jan 2006
Posts: 2

Thanks for your replies. Has anyone else shared ownership of a boat or tried fractional ownership? I would like to know if it is something that is worth pursuing.

gelkins is offline   Reply With Quote
Old 12-08-2009, 02:17 PM   #5
Moderator/Wiki Sysop
Istioploos's Avatar
Join Date: Apr 2008
Home Port: Samos
Vessel Name: S/Y Thetis
Posts: 559

While I have never participated in fractional ownership I did charter my boat S/Y Thetis for a few years right after I bought her. Although the charter company I used was very friendly, my brother was a partner and the technical manager, the wear and tear on the boat was significant. After a while I figured out that I was actually paying for someone else's vacation and stopped chartering her. It was wise decision!

The World Cruising and Sailing Wiki

Help to build this free, online world Cruising Guide

Built by cruisers, for cruisers.

=Mediterranean,Black Sea,North Atlantic,Caribbean
I've Contributed to the Cruisers Wiki: Mediterranean, Black Sea, Atlantic
Istioploos is offline   Reply With Quote

Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off

Similar Threads
Thread Thread Starter Forum Replies Last Post
Dual Ownership - Winter- Summer Tom Farley General Cruising Forum 10 01-03-2008 01:27 PM
Moorings Ownership Program mike37909 General Cruising Forum 13 11-18-2007 12:22 PM

Our Communities

Our communities encompass many different hobbies and interests, but each one is built on friendly, intelligent membership.

» More about our Communities

Automotive Communities

Our Automotive communities encompass many different makes and models. From U.S. domestics to European Saloons.

» More about our Automotive Communities

RV & Travel Trailer Communities

Our RV & Travel Trailer sites encompasses virtually all types of Recreational Vehicles, from brand-specific to general RV communities.

» More about our RV Communities

Marine Communities

Our Marine websites focus on Cruising and Sailing Vessels, including forums and the largest cruising Wiki project on the web today.

» More about our Marine Communities

All times are GMT. The time now is 12:52 AM.

Powered by vBulletin® Version 3.8.8 Beta 4
Copyright ©2000 - 2024, vBulletin Solutions, Inc.
SEO by vBSEO 3.6.0