Smart Charter Business Opportunity in
Tortola, British Virgin Islands

Charter Business Opportunity-2019-Lagoon-52-Sea Runner II BVI

Seeking one more Partner aboard 2019 Lagoon 52 "SEA RUNNER II" in BVI

Smart Charter Business Opportunity in Tortola, British Virgin Islands!

ONLY ONE SHARE LEFT!

Do you want to own one of the first 2019 Lagoon 52‘s in charter on the British Virgin Islands?

Do you want to do it without spending $1.5M?

Well, we have the perfect solution for you.

The owners of Sea Runner II 2019 Lagoon 52 have been partners in 4 previous charter boats over the past 10 years which they have bought from The Catamaran Company.  In addition to selling the vessel, The Catamaran Company provided the financing for the purchase and handles most aspects of the chartering operation so it is a one-stop shop.

Within the last few weeks, one of the partners has had a change in his plans so there is now one 20% slot available for someone who might be interested in having their own $1.5M catamaran in the BVI without having to write that 7 figure check. The deal is very simple and in summary, it costs around $85K to get into the deal, there are numerous tax benefits and of course, you get to charter for free in the BVI!

The Financial Details:

  • Each partner buys 20% of the LLC, whose only asset is “Sea Runner II”.
  • The specifications for Sea Runner II will be sent to you upon filling out the form but in summary, she accommodates a total of 10 guests in 5 cabins each with an ensuite head and shower. She has a full fly bridge and is fully air-conditioned.
  • Each partner is required to makes a $40,000 down payment upon signing the agreement and a further $45,000 in July 2018 when “Sea Runner II” is launched. No other capital payments should be required.
  • There is no requirement for a partner to raise any financing on the vessel.
  • There are no personal guarantees required from any of the partners.
  • Catamaran Sales Inc. (CSI) will provide financing of approximately $950,000 for the balance of the purchase price with a commercial mortgage based on a 15 year amortization.
  • Based on previous cats owned in a similar partnership, the catamaran is sold for around 50% of the original purchase price.
  • Upon the sale of the vessel each partner should receive around $40,000 to $50,000.

The Charter Operation Details:

  • A 3 year Charter Management contract has been signed with Catamaran Charters Ltd. (CCL) in the BVI to manage, maintain and charter the vessel. CCL will arrange all dockage, insurance and other services for the LLC.
  • A further 2 year extension of the charter management agreement can be put in place after the expiration of the first 3 year contract.
  • Based on past performance and projections, the charter revenue generated by paying guests who charter the vessel will be sufficient to cover all costs of the mortgage, dockage, maintenance, insurance etc.
  • Each partner does remain liable for his share of any revenue shortfall should the vessel not perform as expected.

Charter Usage:

  • Each partner is entitled to 2 weeks of usage booked in advance each year.
  • A partner may use additional weeks if the vessel is not pre-booked by a paying guest or other partner 30 days in advance.
  • Each partner is responsible to pays the Owners turnaround costs to include the cost of fuel, cleaning, water etc.
  • Each charter week on the vessel retails for around $15,000.
  • Each partner averages around 10 to 15 weeks over the life of the partnership, a benefit of approximately $200,000.

The Tax Benefits:

  • Each partner generates between 5 and 7 years of depreciation worth approximately $50,000 in a K-1 loss per year, a total of between $125,000 and $150,000 in total over the program.

What’s the next step?

If you feel this program might be on interest to you then the next step is to speak directly to one of the partners and not simply take our word for it. After all, they may become your partner so it’s better that you hear about this program, their experiences and how they feel it really works directly from them so please let us know and we will set this up for you by filling out FORM. Click here for the FORM.

HISTORY ON PARTNERS

In 2005 a group of our charter guests (no doubt over a few beers on the beach in the BVI) were talking about how much they enjoyed their vacations on a catamaran in the BVIs and how smart they were that they had made the right decision a few years earlier to start coming more than just once each year. One of them (probably the one without the beer in hand!) then commented that if they were so smart then how come they were spending so much on chartering each year that they hadn’t bought their own boat! The lightbulb went on and sure enough, when they returned home to the US one of the designated partners was tasked with finding the right boat for the 5 partners. This led them to purchase a 5 cabin Lagoon 500 and so the adventure started. The charter revenue from the boat covered all of the running costs and all the owners took their vacations and everyone lived happily ever after…well not quite!

What actually happened was that the boat did actually charter very well, so much so that when the owners felt like taking some additional weeks for themselves they kept discovering it was already booked with paying charters. When they called their broker to ask what they could do about it his answer, jokingly, was “Buy a second boat!” Instead of laughing, that’s exactly what they did and within 6 weeks they brought in a few additional partners and they purchased a second Lagoon 500. They owned both these boats until 2014 and when the new Lagoon 52’s started to arrive in the Catamaran Company charter fleet, the real bosses in the partnerships told their husbands “We want that!” and so they ordered a brand new Lagoon 52.  A second L 52 was ordered in 2016 and now their third L 52, a 2019 model Lagoon 52 named “Sea Runner II” is scheduled to debut at the Cannes Boat show in September and then arrive in the BVI in November for the 2019 winter season.

Within the last few weeks, one of the partners has had a change in his plans so there is now one 20% slot available for someone who might be interested in having their own $1.5M catamaran in the BVI without having to write that 7 figure check. The deal is very simple and in summary, it costs around $85K to get into the deal, there are numerous tax benefits and of course, you get to charter for free in the BVI!

Are you interested in the details of the plan? If yes, then please fill in the form. Full specs will be sent and we will also answer your inquiries.