Fractional Ownership: Finances
| Boat Purchase | ||||
| Selling price | Per owner | |||
| Boat and Nautica Dinghy | $350,000 | $70,000 | ||
| Legal title and llc setup costs | $5,000 | $1,000 | ||
| subtotal | $355,000 | $71,000 | ||
| (currently determining weight limitations using a 13.5" nautica wide body dinghy-might use smaller version) | ||||
| Fixed boat expenses | ||||
| Item | Weekly | Monthly | Annual | |
| Dockage (assumed at village cay, nanny cay, or Hodges Creek) | $1,000 | $12,000 | ||
| Insurance (carib insur billed annually) | $417 | $5,004 | ||
| Haul out and bottom clean (twice per year-power wash) | $167 | $2,004 | ||
| Annual haul out and bottom repaint and inspect | $500 | $6,000 | ||
| Inspection/Survey | $125 | $1,500 | ||
| Boat watching/Security (3 times weekly) | $75 | $300 | $3,600 | |
| Satelite comm service (television, phone, sat wx,gps tracking) | $150 | $1,800 | ||
| Management fee | $900 | $10,800 | ||
| subtotal | $3559 | $41,208 | ||
| Per Fractional Owner | $712 | $8,241.60 | ||
| Escrow Accounts | ||||
| Estimated short term and long term, non fixed expenses | Monthly | Annual | 4 yrs | |
| Minor and major repairs illustrated below are speculative forecasts, actual amounts may vary | ||||
| Minor repairs and paint (escrow account) | $833 | $9,996 | $39,984 | |
| Major repairs (escrow account) | $833 | $9,996 | $39,984 | |
| Escrowed funds itemized below this line can be reassigned to purchase of new boat in 4 yrs, as agreed to owners group | ||||
| Electronics escrow account (4 yrs, nav systems, electronics,com, etc) | $208 | $2,496 | $10,000 | |
| Sails escrow account (new sails every 4 years) | $208 | $2,496 | $9,984 | |
| Repaint escrow account (new paint every 4 years @25k) | $521 | $6,252 | $25,008 | |
| Engines escrow account (new engines every 10 years at $15000) | $125 | $1,500 | $6,000 | |
| Upholstery escrow account (new upholstery every 4 yrs at 4000) | $83 | $996 | $3,984 | |
| subtotal | $2,811 | $33,732 | $134,928 | |
| 4 years of accumulated escrow funds | $134,928 | |||
| Grand totals fixed and non fixed estimates | $6,370 | $74,940 | ||
| Divided by five owners | $1,274 | $14,988 | ||
| Usage Based expenses | ||||
| Inside cleaning (bi weekly) | Expected bi weekly | $150 per use | ||
| Fuel (mgm co will have it fueled and ready for you) | as used | $35 dollars service plus fuel | ||
| Provisioning service (groc and prov shopping and put on boat) | As used | $150 plus cost of goods | ||
| Laundry service (laundering of towels and linens) | as used | $10 per load plus $25 dollar pick up fee | ||
| Consiere service (as used for misc services) | as used | $35 dollars per hour | ||
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