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Post by Jim Haverland on Jul 2, 2006 20:49:45 GMT -5
Although I have 2 more years left in the IYC program, the thought has often occured to me that this type of thing could be done on a smaller basis and truly be a shared ownership. I'll give you my thoughts on this without getting into costs and details because I have not fully researched this idea.
I'm thinking that we could get 6 members to make an initial investment to purchase a houseboat. This houseboat could be new or used depending on input from the whole group and the initial investment we would want to make. Initially money would be put in an escrow for maintenance, insurance and dock fees. A yearly fee would be assessed based on these same expenses. Each member would then be able to get 2 whole weeks during prime season and then extra time during the off season. Each member would have an invested interest in the houseboat and would be a equal partner. Each member would actually own an equal share of this houseboat. I believe that this idea could work with the right people involved.
Does anyone else have an interest in something like this??
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Post by vedder98 on Jul 3, 2006 19:16:14 GMT -5
I think this is a good idea. With a small number of people, you would feel more like the OWNER of the boat and therefore would take care of it more than people tend to on these "rental" type boats. Also, if you were friends with the 6 people, you could even share time together on the boat, and be able to use it more. Does anyone know if any of the privately owned houseboats ever get rented out by their owners?
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Post by Jim Haverland on Jul 5, 2006 9:42:18 GMT -5
That's exactly how I feel. IYC calls it a shared ownership program but really all it appears to be is a glorified time share program. With this idea, you would actually own part of the boat and have a say in it's operation. People tend to take care of something if they know that it is an investment and they own a piece of it. As for private owners renting their houseboats, I have not seen this for a long time. I know the marinas probably have something in their contracts that forbid this because it would cut into their rental business. It would probably be a logistical nightmare unless you lived nearby.
If we had enough interest, I would be willing to pursue this a little further. I know a couple of guys that have an airplane club that they share ownership in a plane. I could see how they operate it.
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Post by dreaminawake on Jul 6, 2006 11:31:47 GMT -5
Hi Guys, Well Its been a while since I have been on. Just got back from a week at Norris and 5 days at Cumberland. We let our membership to IYC go. Just didn't feel like giving Guzzman any more money 995.00 and could not get a reservation in all. Any way Flat Hollow Marina at Norris is selling one of their rental boats 7 bedroom very nice boat. Hot tub, trash compactor, dishwasher, washer and dryer. These boats have lake water and fresh water pumps for different things. Very nice boat. I think its a 2003 their asking $180,000. Also when I was there I ran into Dennis he did the maintenance on IYC boats last year. Anyone remember him? Well he told me some information I think you might want to hear. It is all hear say so I do not want to post it on the internet but feel free to call us Matt and Melinda 614-457-3972. I think you wil want to hear it.
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Post by vedder98 on Jul 9, 2006 18:27:19 GMT -5
Did you sell your remaining shares or did you just stop paying? Where are you staying at cumberland now that you don't have the houseboat? We are also thinking of getting out of the program. Just got back from a weekend of good old fashioned camping for $42.00. Think of how many times we could camp for $995.00! We'd like to find some affordable lodging also if anyone knows of any. I'd also like to hear what Dennis had to say....
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Post by dreaminawake on Jul 17, 2006 17:14:15 GMT -5
vedder98 We did not sell our share. We just stopped paying. SORRY EVERYONE. I know that hurts the club. We have stayed for many years at Lake Pointe Motel and cabins. Out of Alli 2. It is up the hill and you have to drive down to the dock. You can rent a slip for 15.00 a night or trailer your boat every evening which is a pain but it pays off not to pay the slip rental and fuel on land. Saves alot of $$$ We like that end of the lake so much better. I think their web is www.lakepointeresort.com The hotel is 60.00 night cabins start at 89.00 night they also have 2 efficency hotel rooms with full kitchen very roomy. I believe 75.00 night. You would not be disappointed with Barry and Tina's service. Call me I think it is important to hear what Dennis had to say
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sunny
New Member
Posts: 19
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Post by sunny on Jul 20, 2006 19:12:44 GMT -5
Hey Jim, I think that's a great idea. Think it is very workable. Don't know if 6 people would be enough but you would know better once you have costs to work with. Please keep us informed. I believe we still have 9 years left but am not sure this will last that long. Did you buy a 14 year membership? I didn't realize IYC was in existence that long. Sunny
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Post by vedder98 on Jul 20, 2006 22:28:40 GMT -5
I am currently attempting to sell my shares. I enjoy the LFM end of the lake very much and am considering purchasing one of the hotel-like condos they have for sale. I absolutely love staying at the houseboats, but i'd kind of rather have a more permanent place. If any one out there wants 7 more years, please leave me a message! Thanks-
P.S. Jim, I work with Donna.
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Post by Jim Haverland on Jul 28, 2006 10:44:40 GMT -5
I bought into the program with a 5 year membership. They wanted me to go 14 and I was not willing to commit to that long. Good thing I didn't. Good luck Vedder in selling your shares. Hope all works out for you. I paid my maintenance fees up front so I guess that was a smart move on my part. (I actually had considered not doing that.) I already have my reservation for next year so I will have one more season left after that. I am going to leave some cards down there this coming week to spur more interest in this forum. Also, I have been in contact with a gentlemen who rents out his houseboat at Alligator 1. His info is below.
I have 1996 Sunstar 14x60 that sleeps six, or 8 with an air mattress. I dont rent this out, but do let friends of the family stay if they leave around $250 for gas(wink wink) for the weekend. I dont let them leave the dock, but they can park their runabouts behind my HB. Email if you are interested Clinton.Long@Penske.com
We are at Alligator 1. The way I do these is it is $250 for Friday eveing till Sunday evening with a $250 cash damage deposit for a weekend rental. If you want to do something during the week let me know. I usually keep the big weekends for myself but prices can be arranged if those are what you want. Let me know if you have any questions. 859-489-8276. The boat has two queen bedrooms and a pullout couch. I can fit an arimattress in also if needed. Also has full shower and head. Really nice kitchen and grill with everything you would need.
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