The Boatel Project

Oct 26, 2008
6,432
Catalina 320 Barnegat, NJ
I would also consider the location as being a critical element. Why will somebody want to stay in a marina where the slip may only cost $4,000 to purchase. I'd guess that there needs to be a destination that is attractive nearby. What is the draw? I doubt that it is enough to suggest that spending a night on a small boat in a lousy marina is a unique experience that will have any draw. As anybody in real estate can tell you, location is critical. I might be wrong, but something tells me that you have not thought about the cost / benefit relationship between revenue from a rental property and the cost of the asset. Slips in Oriental, NC cost about $20K to $30K for a 30' slip. I don't know if there are maintenance fees involved or not, but I suspect that there have to be. If there aren't, then I would guess that the marina would quickly become a pretty lousy place. So, do the maintenance fees enter into the income projection? I might pay $50 to spend a night on a well-appointed small boat, as opposed to a clean motel room, in Oriental. I'd bet Kentucky Lake has some attractions, but would I spend $25 to spend a night in the cheapest marina on the lake? I don't think so.
 
Oct 10, 2011
619
Tartan 34C Toms River, New Jersey
Sorry Todd I think your plan has been squashed. All the points brought out by this forum are all valid points, especially Scott T-Bird's.
However I would rent any of the ones shown in Tom Y's photo's.
 
Nov 8, 2010
11,386
Beneteau First 36.7 & 260 Minneapolis MN & Bayfield WI
I've known two boats that have done this, one in the USA and one in Spain. I've actually stayed on the one in Spain. Was fun. Both are 'on the downlow' kinds of operations. The owners sails the boat and rents occasional for pocket money. I'm guessing that trying to make a full-time business that pays the bills would probably fail.

Link to Spanish boat in AirBnB

https://abnb.me/9p2rhKWTuW
 
Oct 26, 2008
6,432
Catalina 320 Barnegat, NJ
Link to Spanish boat in AirBnB
It is very interesting to see the options that people present on AirB&B. I should emphasize that I think it is a great model for people whom love that sort of thing! But read Emily's review for staying on the boat for $38 in Barcelona. Something tells me that $75 to $150 in Kentucky is not going to work.

My daughter loves the sense of community that Airbnb offers. She has stayed with hosts from so many countries and has met guests from all over the world and, like I said, she uses it as a staple for unearned income. She says that she has had only one guest that made her just a little bit uncomfortable, otherwise it is normally just business as usual or a great experience. She once had a couple from NJ stay with her and they loved to make all the meals (Italian cooking). She said the dining experience in her own home for 5 nights was fantastic!

She was traveling from Greece to Montana a few years ago in June and had to change flights in New York. Arrival was at Kennedy at 11 pm and departure was at La Guardia at 2 pm the next day. She asked "Daddy, can you come get me at Kennedy? (middle of the week workday for me) … "Uh, NO!" Ok, she says, I'll see where I can stay overnight in NYC. Obviously the cost for a night stay and transportation in NYC is a killer, but she's living the dream while I'm a working stiff, so I'm not that sympathetic to her traveling headaches. So she thinks, why won't Airbnb work? She finds a host that is close to Kennedy airport and arranges a visit. The host offered to pick her up at the airport so she is in bed not much later than midnight. The hosts are a lovely couple (but she knew that because of the reviews) so in the morning they invite her to relax on their patio and have a leisurely breakfast. Then they drove her to LaGuardia. It was only about $100, she said, and she was totally refreshed for the 2nd half of her journey home.

I know she lives under a lucky star, but COME ON!

In short, I think it is a niche for a selective group of travelers. I doubt it can be considered to be a realistic cash flow of any consequence. My daughter has to put a lot of effort in to it every day to make sure it is economically worthwhile for her. This is NOT easy money or a sure thing. She has to maintain a great reputation and she also has to hire a lot of trusted service people to keep it going when she is unavailable. Obviously, that eats into the revenue.
 
Last edited:
Nov 8, 2010
11,386
Beneteau First 36.7 & 260 Minneapolis MN & Bayfield WI
I But read Emily's review for staying on the boat for $38 in Barcelona
LOL I read that. It's clear 'Emily' should have stayed at the Holiday Inn. In actuality, the boat is 'marina as usual', and if thats what people expect they will be fine. Clearly not the adventurous type.