Let’s Buy A Boat?
Let’s Get Our Junk Out
To buy a “not too expensive” Hong Kong style Junk party boat.
It’s difficult in this day and age for average people to get ahead and get involved in investment that can bring some extra cash or even give your lifestyle that extra boost.
Imagine being that one of your friends that’s able to say, “yeah, I own a boat”.
The plan is to put together a maximum of 8 people to make a small investment to be able to do just that.
We each put in just enough money that we can buy the boat and have a little extra for the ongoing expenses for the next 3 year block so that any income generated by the renting of the boat would be free of subtractions for berthing, insurance, maintainence and other expenses.
Take your time to read though the following details and see if you believe you are the right person to buy a boat.
What kind of Poeple Are We Looking For
The busisness of buying, owning and renting out a boat for parties and tours is probably not in the busisness spectrum of many people.
In order to make sure the boat will generate revenue, be profitable and make the owners look like legends we have to select the right people to own the boat.
About The Owners
- To be selected as an owner you must be able to bring busisness to the boat. People with wider social connections and larger network connections would be desirable. By this way you can give “mates rates” to the people in your network and make them feel more secure that they are being taken care of by a friend and supporting a friend within their own network.
- We look at this as a recreational investment, meaning the people investing should be financially stable enough that the investment amount won’t bear a heavy financial burden on the investors. This way it can remain fun and stable without weighing heavily on the mind of the investors to meet certain financial goals or results.
What Are The Initial & Ongoing Costs
We are looking to buy a boat at around the HKD$500,000.00 mark.
The plan would be to have all ongoing costs pre-paid such as mouring fees, insurance, engine and structural maintanence, etc. The break down would be as follows.
- Mouring costs per year HKD$0,000.000.
- Insurance costs per year HKD$0,000.00
- Engine minatance per year HKD$0,000.00
- Structural maintenance per year HKD$0,000.00
- Any legal costs for licence transfer or registrations HKD$0,000.00
With all these costs put together and multiplied into a 3 year block we have a total 3 year project cost of HKD$000,000.00
Split equally by 8 investors = HKD$00,000.00 each.
You now own a boat!!!
Who Is Responsible For What
All parties involved will be responsible for trying to rent out the boat to their network.
The BBL director has acquired a boat licence and will be the main captain of the boat for all outings. If by chance he is not available then BBL will have a rosta of back-up captains to call upon if need be.
All investors will have access to the boat for personal time outside of any bookings.
BBL will take the responsibility to procure the best insurance and mouring and maintainence deals and will be agreed upon by all parties.
Depending on the investing parties, responsibilities for the investing of incmings from renting out the boat will be handled by one of the investing parties to be agreed upon by all parties.
What Happens After 3 Years
Since we have been talking about a 3 year block investment the plan for the ending of one 3 year and the succession into the next block will pertain mostly of the following points.
All incomes that we recieved by the renting of the boat, minus captains fees, will be entered into an investment account to continue to accumulate. At the end of the 3 years block that account can be drained and divided between all investors and we start a new investment accounts for the next 3 years.
If all parties agree then the investment account can be maintained and left to continue to accumulate for another 3 years.
If by chance any investor wants to get out of owning a boat at the end of the 3 years block, he can select to sell his share in the boat to one of the other ivestors with BBL having the first option to buy. At this time the investment account will be drained and divided between all investors and a new investment account will be started for the next 3 year block.
The price of selling your share of the boat will be based on the price of the purchase of the boat.