I currently own free and clear a 14 ft. fishing boat. I would like to upgrade to a newer larger boat/motor, 16-19 ft. range, 90-115 hp. I could afford to do this on my own but don’t have the time to use the boat enough. I’m looking for an investment partner to share all usage and costs of a larger boat. Not looking for a NEW boat just a quality used rig. PM me and we can discuss.
Kenn
I was hoping this would have been about splitting a guide trip. The only way I would split a boat is if I split the cabin it stayed at. It will be fewer headaches if you just bought your own.
Splitting a boat can be tough. After college I split a boat with a roommate. We fished together a lot and that worked out fine for a year or so as long as you could schedule the use. Labor day weekend was approaching and neither of us had plans to use the boat.
While at work on Friday before Labor day weekend I made some plans to head up to a friend’s house for the weekend. Got home and my roommate beat me to the plan and the boat was gone before I got home from work.
Holiday plans dashed, I spent the rest of Labor Day weekend shopping for a boat and let him know it was time that he bought out my half. A month later I had a used boat of my own. The next Spring he sold the shared boat to buy me out.
I thought this was a commercial for Flex Seal… 
There are a few things that shouldn’t have shared ownership, a boat is one of them. I just feel you’d be setting yourself up for frustration.
Just my 38 cents.
I’ll split it with you and you can be the sole user under the following conditions.
You buyout my portion at 100% of my original portion in 5 years plus 5% of the remaining balance per year.
I split a boat with my cousin about 8 years ago. we were both young and it was a pretty cheap boat. My cousin moved to Montana a few years ago. Not long after that the 1970 motor broke. Last I heard one of his buddies took the boat to try to fix it and god knows where it is now. Pretty dumb idea but you live and you learn. Wouldn’t split a boat again. Always seems each person wants to use it at the same time but not exactly at the same place.
My dad and I split the cost of our boat. I use it a lot more, but it’s stored at my place. I’ve put all the elbow grease into it and the old man just pays half the bills and takes it out from time to time.
I thought this was a commercial for Flex Seal…
There are a few things that shouldn’t have shared ownership, a boat is one of them. I just feel you’d be setting yourself up for frustration.
Just my 38 cents.
x2!
Thin ice you’re treading on. Could work with the “perfect” partner, but that would be hard to come by. If you are super layed back and tbey are too, and both really respectful and courteous It might work. If you do this venture let me know. Im going to have a pool and Ill be betting against this partnership lasting more than a year.
All proceeds to the Fishing Has No Boundries organization. Great organization.
I would only consider doing this with my Dad or my father in law. But it would be pretty much understood that I was the primary owner of the boat and their benefit of ownership would be me taking them out or them having some access to it.
I would consider doing this with two people…my dad or my father in-law. Reason being they are both retired and would primarily only use the boat during the week. I would also have that agreement prearranged that you get priority during the weeks and I get weekends. That being said, I get what you are trying to do. Alot of people have boats and only use them 2 to 3 times a year. If that’s what you are thinking I would look into either a boat club, or just renting a boat. Those are good options for this type of arrangement.
Hey guys! Lots of good responses with the answers I kind of expected. Agreed ALOT more potential headaches, but twice the expenses. I work most weekends and holiday weekends so my usage would be mostly during the week and one or two weeks per year. Probably am setting myself up for more frustration than the extra cost is worth. Biggill… too much math… Unfortunately my Father has passed and my Brother-in-Law is not in good health. robby.. Agreed probably very thin ice… Would have to do some Extreme Vetting when it gets to picking an investment partner. That being said there are lots of quality Fishing/Boating people out there. Of course there are lots of idiots also. It would be pretty tough to find the right individual. My potential usage would be only appx. 5-8 times per year. My bigger concern is the lack of use of the motor. Thoughts about that issue?
Only situation I’ve ever seen it is if a couple of relatives share a boat at a family cabin. Even then, families can be well… families.
My advice is if you find someone to be a partner on a boat – draft an agreement (Marriage) and also a separation (divorce) contract so everyone knows how this will play out. You both won’t own the boat forever ~
My bigger concern is the lack of use of the motor. Thoughts about that issue?
I don’t see any problem. What issues do you expect?
I thought this was a commercial for Flex Seal…
If you can’t afford to own a boat on your own you can’t afford a boat. Entering into a partnership will have only one ending and it’s not a happy one. You would be further ahead investing $4 a week into Powerball. That way you know what the result will be before spending your money.
If you have the money, buy it yourself…who cares if it doesn’t get used enough. Worst idea ever buy a boat with someone else…especially a stranger on the internet (I thought this was a joke to be honest).
X2. I would not want to own a boat with a family member or friend much less an internet stranger.
50/50 sounds great until your partner hits a wingdam and pulls the lower unit right off your motor. Are you guys splitting repair costs?
What about when your partner uses the boat one weekend and then two weeks later the motor doesn’t start? “Nothing happened” when he took it out, are you guys both paying the shop to take a look at it?
I know of one person who shares a boat and actually works out. Mainly because the boat stays at the cabin on LOTW and there is complete trust between the two parties(lifelong friends who also split all expenses for the cabin).
Maybe you could find someone with the size and specs of boat you’re interested in, and come up with a yearly price for you to rent the boat x amount of times. You assume all responsibilities for repairs while in possession of the boat, and insurance. Maybe go through the calendar and decide who gets the boat on key dates, openers, holidays and such. Maybe you could be using a nicer boat than you could afford, for less money. In turn, the owner gets a couple boat payments during times the boat would be been sitting in the driveway……….
Kenn,
If you’re only going to use the boat 5-8 times a year, have you just considered hiring a guide for those trips? I think an 8 hour guide trip will cost about $500 for 1-2 people. If you split the trip with a buddy and go 8 times that’s only $2000 per year. The cost of owing a decent boat, even if only paying half, would probably exceed that if you consider all costs including depreciation, storage, insurance, etc. AND… you will have the benefit of learning a ton, having all gear and bait provided, fishing numerous waters, etc. Just fishing in the metro area you could book a flathead or sturgeon trip, fish the Pool 4 spring walleye bite, fishing the upper Mississippi for the great fall smallmouth bite, hit the upper St. Croix for a smallie float trip, Minnetonka for muskies or large mouth, etc., etc., etc. Just meet the guide at the ramp and fish without the work and hassles of boat ownership.
And half day trips are even less expensive if you don’t want to spend a full day on the water. Lots of good guides. Just ask here for recommendations.
Boone
So, if like me, you have an adult beverage on a Friday evening, and then go back and re-read all the above posts, substituting “boat” with “girlfriend”, starting with the title, can be somewhat comical.
So, if like me, you have an adult beverage on a Friday evening, and then go back and re-read all the above posts, substituting “boat” with “girlfriend”, starting with the title, can be somewhat comical.
AMEN BROTHER !! but,what do you do if she is up for it??
I agree with the possible issues but I did this about 10 years ago with 2 good friends. Ended up working out great as we usually fished together. When 1 guy wanted out we bought him out. After a few years, I bought the boat outright.
Best to own the boat on your own but if the situation is right you can make it work.
we split one when we first bought our cabin… worked for us, but we only used it at the cabin. it works well if you buy a $1000 boat and you can’t really wreck anything…
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