New Marina question

[Angler Bay]

I'm permitting a new marina on Kelso Bayou in Hackberry and I need some input . We are considering selling slips as well as leasing slips. The thought here would be that if someone purchased a slip and decided to get rid of it later, he could sell the slip to the next guy and recover some funds vs. just giving up the lease and losing the rent money invested. To purchase looks like it would cost more per month vs. leasing, but you could recover most of it if not all by transferring the slip should you choose to get out. There would have to be some sort of HOA type system set up for maintenance decisions, etc. In your opinions, would there be any interest in ownership vs. leasing or just concentrate on offering the lowest lease rate possible? Thanks in advance.

Sam

[jlincecum]

I like the idea Sam but I think you will run into some legal issues. Hard to sell something to someone but you still legally own it. Who takes responsibility if something happens?
I like where you heads at and I would like to get in line for one but think you are going to have to get creative to pull it off.

[meaux fishing]

Yeah it seems like a good idea, but I think it will become a big headache for you down the line

[marshrunner757]

Maybe all in wording. Maybe call it a lifetime lease?

[ckinchen]

It works they do this in grand isle

[redaddiction]

Originally Posted by jlincecum

I like the idea Sam but I think you will run into some legal issues. Hard to sell something to someone but you still legally own it. Who takes responsibility if something happens?
I like where you heads at and I would like to get in line for one but think you are going to have to get creative to pull it off.

They sell and rent large storage units for boats and RV's here in lafayette. It's set up like a condo complex. Just have to get all the legal stuff in line. Will need a Real Estate Attorney for sure.

[B-Stealth]

When you say purchase, I'm assuming your talking about a single transaction and a lump sum of money like $10,000?

I think you can sell or lease them without any issue; how the two are setup will depend on what you need now for your investment.

[alphaman]

you could do this depending on the size of the land your on. you could build a boat storage area charge a storage fee. build a boat launch.
Boom don't have to deal with all the other B.S.

[bigheadboo]

In Cocodrie you lease the land add your camp/boat shed to land owners approval. When ready to sell you sell the improvements and the new owner leases the land from land owner.

[Angler Bay]

Thanks for all the input guys. I think we may just concentrate on keeping the leases as low as possible. We plan to have the place gated, with fuel, a private launch, and ice machines to provide ice to our tenants.

[waistdeep]

Cap'n, don't take short cuts on your security from day one. Good Luck and good business to you Sir!

[BananaTom]

There is a place in Orange Beach, Alabama called "U Own It", which really took off and is in high demand. Large storage garages for RV's and Boats. Set up under Condominium Laws, subject to monthly / yearly dues.

Then in Gulf Breeze, Florida we have a place called Santa Rosa Yacht Club, which is a marina with wet slips and dry storage. This is also set up as under Condominium Laws, and all the slips and dry storage are sold. I know some people that purchased several, and then rent them out. Just like you do when you come to the beach and rent a condo for your family.

The upside of this, it is a way for the developer to receive a faster payout for the investment.

The monthly dues keep up the management and maintenance.

Below are the links to each, respectfully.

http://uownitstorageal.com


http://www.santarosayachtclub.com

[CharlieFoxtrot]

When is the groundbreaking ceremony ?