This is a great way to enjoy a yacht without financial paperwork, interest rates or sales taxes.   No need to buy a yacht.   Let's face it - most yachts are vacant all year while payments and maintenace keeps growing.  As an alternative, Try this first.  IF you're still interested in owning your own yacht after a year or so, we can work with you to make the transition. Share expenses with other members and still enjoy the full privacy of yacht ownership.  The way we set this up, your friends and clients  would never know if this was your own private yacht. Keep your personal clothes, bikes, car, etc.on site and  in a secure area on the boat and grounds. Ideal for family, friends and client entertainment. Still interested?   First read this information then call 412-670-0747 with your questions.

 Our yacht is a VIKING 63 ft.  To become a partner you give $30k down and $1,500 per month.  (The monthly expenses vary with number of members)  (We can work with you creatively with the down payment)  Docked at the exclusive, Fort Lauderdale Resort and Yacht Club, Lauderdale, FL. This fee includes full usage of the hotel facility including, pool, steam room, valet, full size gym, parking (guests & you) , room service, courtesy shuttle and more.

Now about "Free Enterprise".  This 1989 Viking Motor Yacht was refit by William Bales Yacht Interior. http://www.williambales.com/portfolio.html Every appointment from the custom fit egg shell leather sofa to the matching ultra suede window dressing are elegantly designed.  This Yacht is a spacious 63 ft. due to the beam-to-beam width in the Salon, Master Stateroom and bridge. Most boats up to 80 ft. don't show this much interior space.  We have had 50 onboard for parties with room to spare.  The Galley up, dining and salon on one floor make it ideal for entertaining clients, friends and family. 4 staterooms (Bedrooms), 3 Heads (Bathrooms) and full size galley (Kitchen). The Master head has a full size Jacuzzi tub.  Click on Viking Tour or Viking Survey for details.

The following is a description of the VIKING.

Galley
Galley has been recently updated with One piece Granite counter, dual stainless steel sink, garbage disposal, three Sub Zero stainless frig/freezers, dishwasher, Corning Countertop stove, wine cooler, microwave/coffee brewer combined, teak/holly sole flooring.

Electronics  2) ICOM VHF radios, 2) color Farino Navnet 48 mile Radar/Sonar/chartplotter Northstar chart plotter, Simrad autohelm, 2) Datamarine depthsounders, speed depth, distance & temp, Single Sideband long range radio, 2) CCTV camera system with monitor, Floscan fuel monitor for fuel management.

Electrical 240 Volt AC power with 20kw Generator Voltage and amperage guages Two 50 amp motorized power retractable dock cables Ten 12 volt batteries

Deck Large 17 ft. wide, 24 ft. bridge with icemaker, frig and table

Additional This interior was completely refit by William Bales Yacht Interiors. For the complete certified survey, click on "Viking certified survey" on the left side.

Disclaimer The Company offers the details of this vessel in good faith but cannot guarantee or warrant the accuracy of this information nor warrant the condition of the vessel. A buyer should instruct his agents, or his surveyors, to investigate such details as the buyer desires validated. This vessel is offered subject to prior sale, price change, or withdrawal without notice.

Contact Don Hodor (dhodor@southpointe.net)  or Jeff Hodor (jhodor@bayacht.com) for details including bylaws, survey information.

Arrange for a cruise and tour.

 412-670-0747  email at dhodor@southpointe.net

Frequently asked questions.

How often do I get the use of the boat?  WIth 4  members you get a total of 120 days each year.  Members vary from 4 to 8. Most of the time, the boat is available and the members use very little of that time.  (How much vacation time do you, spouse and friends really have available?) Members can share a day/weekend of cruising and save fuel, captain, food and beverage cost.  This is a  great way to meet new friends and professionals.  If the date you want is extremely important just make sure to schedule early.  Worried about 'member compatibility'?  Many of the members never really meet each other.  You arrive at the boat alone and leave alone to enjoy your privacy.

Can I take a tax writeoff?  Yes, it is possible, many  do. Of course it depends on your individual situation, tax position and tax bracket.  Check with your accountant.  She is a LLC corp. 

How do we vote on changes? All policies are discussed and voted on by the members.  (Usually by conference call or Email) We are very considerate of your request and realize "harmony" is key to enjoyment of the yacht.

Can I bring friends and clients onboard? We only require that you schedule and must be present with friends and clients. Just like in your home, you should be there with guests.  This is the one important rule that makes it all work.

How do I schedule time?  Check our online calendar with our "Pass code" to see if the date is available then register for your time.  All is posted for every member to see.

Were can we take her for a cruise?  Most take one day or weekend trips on the intercostal maybe to a restaurant and sunset cruise.  You can schedule a trip to the Keys, Bahamas and interesting island retreats.  For starters, An overnight stay in Miami is a nice easy trip.  The first port in the Bahamas (Freeport) is about 5 to 8 hours away.

What do I need for a credit line? If you qualify, we provide the credit line. This is important to note as most banks are very reluctant to use a boat as capital for colateral on a loan. Usually banks look closely at your 'entire finanacial portfolio".  This is not the case with this program.  Financing is already in place and mortgage is secured with equity and cash flow.   You just sign for your pro-rated portion of the loan and overhead cost. 

Who drives (Captains) the boat?  Do I need a license?  We have a list of Coast Guard captains that will take you on a cruise for $100 and up depending on how long and how far your wanting to go.  This is the best approach - to just set back, entertain and enjoy the trip. You can train to be your own captain. Ask Don for details.

What is included in the per month dues? includes mortgage payment, docking, insurance, minor maintenance. It does not include any unforseen major repairs.  So far we have rebuilt 95% of the systems.  You will need extra for fuel, captain,food, overnight docking on trips, etc.  Many members just stay at the Resort. It has more than everything you need.  Call it your floating condo.

 How do I get out of the membership if something comes up later in years? 

3.  A member  may be removed from the note responsibility under the following conditions.

a.       A member sells his share to another party who has been approved by the members via majority vote.

b.       A member forfeits his deposit and leaves his shares to the remaining members if he is in default by missing 3 month consecutive payments.

c.       A member requests to leave the corporation by giving a 3 month written notice to be approved  by the remaining members by majority vote. The member forfeits the deposit.

d.       The group makes an offer to buy a membership at a mutually agreed value.

e.       The boat is sold and shares are divided between members.

What if I want to upgrade systems or add money for something new?

Any member may lend money to the corporation for capital improvements that are approved by majority vote of the members.  In which case the lending member is entitled to receive monthly payments with interest for the purpose of paying back the loan.  The interest rate shall be equal to the bank mortgage on the boat which is presently 7%.  The purpose, amount, payback time and interest rate shall be approved by members by majority vote.

Any member may “donate” funds, or lend  merchandise or goods for capital improvement to the boat if approved by majority vote of the members.  For example, a jet ski can be kept at the boat.  This improvement will be noted in the meeting minutes and a receipt shall be given to the member making the donation.    In the event the boat is sold or the donating member leaves the item is returned when possible or , the “fair market value” of the donated item shall be refunded to the member.

What are the other members like?  What is their occupation?

The members are professionals, most owning their own businesses.  They are reasonable and flexible in thoughts and scheduling.  (We don't descriminate. You can come from any background or occupation)

What is the advantage of fractional membership over owning my own yacht?  80% of the time we see yachts docked but no owners on board.  The truth is, very few can spend more than a total of 30 days each year on their yachts.  Work, family events, holidays, unforseen committments make if difficult to 'carve out'  leasure time.  With 1/6 the expense you still have 60 days of usage.  This is plenty of time - More than any member has been able to use.  In addiiton, you have the help of 5 other members who will step in and help answer maintenance questions, etc. 

How do the members get along?  I can sincerely say, the group has matured to the point were "harmoney" and "cooperation" has become the norm.  All are equal in vote and decisions are made with a 'common sense' approach.  Just remember to keep in touch with anything you are doing that may raise a question.  i.e. don't go out spending money on the boat before we discuss, vote and approve the upgrade or repair. 

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Interested parties, please fill in the form below and return. (Please copy to 'e-mail' and forward to dhodor@southpointe.net

NAME

SPOUSE NAME

NUMBER OF CHILDREN                 AGE

ADDRESS

CITY/STATE/ZIP CODE

YEARS LIVING AT RESIDENCE

PRESENT EMPLOYMENT

WORK ADDRESS

YEARS AT EMPLOYMENT

ADDITIONAL EMPLOYMENT

BREIF DESCRIPTION OF PAST BOATING EXPERIENCE

(If you have a marine resume, please forward)

ESTIMATED USAGE OF YACHT?

HOW SOON ARE YOU INTERESTED IN BECOMING A MEMBER?

Do you want a phone call?  If so, where and when is best? _______________________