Mutual Ownership

[gofish]

DON'T DO IT!!!

I went in w/ 2 of my best friends on my V. All was great for the first 6 months or so. After that one of the guys started slacking on putting gas/oil back in after using it, not cleaning it up well after using it, breaking stuff and not telling his partners about it, etc. Me and the other buddy let it slide for a while, but I finally called him out on it and he took offense. Well, that lead to a big argument... blah blah blah.
Long story short, I ended up buying the 2 friends out and my relationship with the friend that wasn't holding up his end of the deal is still a little akward to this day.

Don't think you're immune to this situation. Eventually, you will either be the guy that gets sick of it, or you will be the guy they get sick of.

[RWilson2526]

good advice above but you can consider your relationship with the family members you would be going in on....Do they get mad at you or you at them for things on a regular basis?....If your talking going in with maybe a dad and brother or something I think you would know best if it can work out. Friend of mine went in with dad and uncle on a whaler and all seems bliss so far after 4 years....

[cterrebonne]

thanks for the advice. like said above i didnt know too many partnerships that went well.
i guess i would have to think about it. main reason is that i would like to upgrade within the next couple of years. I would like to upgrade to somthing alot bigger around 30 feet or so to run in the gulf. by going halves we could get a really nice used rig.

[gofish]

Originally Posted by cterrebonne

thanks for the advice. like said above i didnt know too many partnerships that went well.
i guess i would have to think about it. main reason is that i would like to upgrade within the next couple of years. I would like to upgrade to somthing alot bigger around 30 feet or so to run in the gulf. by going halves we could get a really nice used rig.

I would think the bigger the boat, the greater the chance of something going foul.

I too have dreams of a bigger boat (specifically a 25' Parker pilothouse), but for now I'm content w/ my 100% paid for and owned by me v-20.

[THEFERMANATOR]

About the only time I have ever heard of a jointly owned boat working with family is one that was owned by a parent and then he let's the family use it as there own boat. Or one that was passed down, but even then one person has to have a bigger ownership part in order for it to work.

[Blue_Runner]

I use my dad's 14' Mckee craft like its mine. But dad has only used it a couple times. I think he bought it for me

[Stinky_Hooker]

Id rather share ownership of my wife than my boat, thats just me.

[reelapeelin]

There are some guys here (about 5) who are partners on a good sized sporty they keep docked down in Georgetown...the important thing is to have open discussion about it BEFORE hand and be sure all are "like-minded" on use, maintenance and who, what, when and where...

set some RULES going into the deal and establish the consequenses when the rules are not followed...if you make it thru that phase, then a partnership could work...