We Are Considering Taking the 'Moorings Owners' Plunge - Any Advice?

[speciald@ocens.]

Two things to consider -
1) you used to be able to depreciate the boat over 7 years. I think it is 20 years now.
2) Unless you plan to use your charter weeks or sell them, it does not make financial sence.
Ask your accountant before you consider this as an investment.

[bstreep]

One more point to add. In the last big economic downturn, CSY went out of business. The charter business is VERY slow right now.

We had chartered with CSY, and they folded the day before our charter was to start.

[cyshep]

How do the free weeks work? I was considering doing this also. I am a teacher, and have 10 weeks off in the summer. Can you use your free weeks all in a row, or are there only certain times you can use the weeks?

Thanks,
Shepard

[dreamsailsaustr]

anyone knows what to do with unused owners time ?

[Tetepare]

Originally Posted by sailorboy1

Has always seemed to me that if you wanted to go this route (the charter boat one); that you should just buy a boat coming out of the fleet. If the owner option wasn't a better deal for the Moorings, why would they do it? Why buy a boat to "made" $100/month over your payments while it depreciates much more than that.

This. You know what you’re getting, at a depreciated price. Keep in mind it’s not Moorings that’s selling, but someone who had the same dreams as you.