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Boat Co-ownership Experience/Thoughts

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Old 09-01-2010, 09:11 AM
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Default Boat Co-ownership Experience/Thoughts

I am co-owner on a formula fastech with my brother...I am just wondering what members experiences have been with co-ownership...any thoughts?

Personally their is no way I could afford a boat alone...My brother and I get along great. We are like best friends. Never fight and we split everything 50/50. It has been an awesome experience.

How have the members here faired? Any stories? Any thoughts? Thanks.
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Old 09-01-2010, 09:16 AM
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It's great to hear that it works for you. I don't have anybody in my life (except for my wife) that I would consider co-ownership with.

I would buy a less expensive boat before considering sharing.
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Old 09-01-2010, 09:25 AM
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No experience with it, but I see nothing but problems....you both have too agree on every where you want too go, and if one uses it a weekend and something happens, and it will, who is responsible? I wouldnt do it, but that is just me.
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Old 09-01-2010, 09:30 AM
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No experience with it, but I see nothing but problems....you both have too agree on every where you want too go, and if one uses it a weekend and something happens, and it will, who is responsible? I wouldnt do it, but that is just me.
well my brother and i share the same friends so we never go without one another...my brother and i also used to jet ski together for the past 4 years and always agreed on location, etc...it also helps that we share the same schedule.
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Old 09-01-2010, 10:14 AM
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An old post I dug up for you.
Happy reading....

Went great for us for 2 1/2 years with a little 272 till his wife started to think she had something to say about what days they wanted to use it. Was agreed from the beginning to be every other weekend. Then on my days that I didn't use it, they wanted it...no biggie.
If we used it together on one of "their" days, his wife made sure only he or she drove it.
The best was her trying to trim it in sloppy water and her tits almost bouncing off her face.
We wanted the 500HP at the time of the boat show but settled for a 502mpi cause it was $66 less a month...later found out his wife F'ed us on that one.
Fuel level rarely ended up at the agreed "topped off" but only on "Full" after each use....Also for some reason It always needed a quart of oil every time I checked the stick prior to launch.
But he did like to detail it alot...maybe to get out of the house?
He got so trashed once, but only once, I had to drive an hour to the bar, idle it back to the ramps in the dark, load it, and trailer it back all solo me o.
The payments were every other between us... with a missed one here and there near the end.
He rear ended a van full of Mexicans one winter so the nice and low insurance rate went x3.
Added 2 more subs with an amp which we both thought it needed on my labor but in the end was too expensive to split cost of parts, said he didn't care what it sounded like but blasted it all the time anyway...whatever.
I bought a second cockpit carpet for my own use since his kids liked feeding on Red drinks and BBQ chips at 64mph.
Parked it in their driveway cause dry-stack and dock gas was "a rippoff"... for a 27'? Then a basketball hoop ended up on the garage one day...need i say more on that one.
Long Blond hair was found in the cabin by his wife (which she noticed being very similar to his secretary's) so I had to cover saying that I had someone on the boat with that type hair in which she assumed I was banging in there, and made us detail the boat before she would even get on it again.
I bought a labbed 4 blade prop so it gets up out of the water faster as not to till the bottom. Some how it ended up dinged and said he always used the 3 blade cause mine made the boat 2mph slower.
Guess what? We sold the boat and haven't talked to him since.
Sorry about the rant but I feel much better now....


Hey JC you want to split in for a 400?

Last edited by Back4More; 09-01-2010 at 12:42 PM.
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Old 09-01-2010, 10:38 AM
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Didn't work for me. Great friend, both of us had cruiser boats and went everywhere together, did all kinds of events, etc. Split a (kinda) fast boat figuring we each had an alternate boat and would use the Formula for poker runs, etc. We put significant money and lots of time into the boat until one day he says "I can't share". After getting over the WTF moment he tells me he will give me the money I put in, nothing for my time rebuilding his boat. (We had only used it a couple of times, spent an entire winter going over it.) Finally I give in and take the cash to save the friendship. He has hated me ever since Brother might be different, blood is thicker than water....and Coors Light.
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Old 09-01-2010, 10:46 AM
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My brothers think that they are part owners of my truck! I get to pay for everything and they use the thing all the time. The other day I find out my brother is driving it down to South Carolina to get a mast for his boat with out even talking ot me about it first! My father has a boat partnership but they did it not for financial reasons as much as the two of them both only use the boat a few times a year anyhow. So far 5 years later I think they are both happy other then my fathers partner wants a larger boat and my dad not so much. You just have to be prepared for what could happen and to walk away from a friendship.
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Old 09-01-2010, 10:55 AM
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I had good experince with spilitting a CC with my brother and dad. I wouldn't do it with a friend.
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Old 09-01-2010, 11:01 AM
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no way
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Old 09-01-2010, 11:13 AM
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Personally, I've never seen it work. Worse yet, it's ruined lots of good friendships. I wouldn't recommend it.
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