The operating expenses include the marina slip, fresh water, boat insurance, repairs, maintenance, management and fresh clean linens and towels at the beginning of each cruise.
The sailboat is owned by the partners. This brings the piece of mind that there will be no threat of foreclosure. The only payments you will make after purchase will be the operating expenses. The expected price is $250.00 per month payable quarterly in advance. Payments are due on the 1st of the month each quarter, January, April, July and October of each year of ownership. When the vessel is eventually sold all owners will split the proceeds of the sale - proportional to the amount they paid in.
Payments should be made to:
Sailboat Partners, LLC
2732 Northlake Road
Gainesville, Georgia 30506
Sailboat Partners carries coverage on the vessel and equipment. The policy includes liability coverage in the amount of $500,000.00. The policy will continue in force even during named storms and hurricanes. US management is by Bob Allen. Duties include: scheduling, staying in contact with other owners of the boat for current information about necessary repairs, authorizing repairs in conjunction with Professional manager, collecting annual operating expenses in four annual installments, paying bills from repairmen, Insurance, slip, etc.. and providing overall management service.