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Old 02-01-2015, 08:34 AM   #29
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R & M Fund

Quote:
Originally Posted by bamaboy473 View Post
A simple and businesslike way to handle R&M is to fund a R&M fund with $10,000, from which R&M is performed. Each anniversary date, the fund gets replenished.

Set a time frame for replenishment (like 60 days after the due date), and have a quit-claim purchase set up that provides full ownership to the party that paid up. As friends, allow an extra 60 days for the offending party to get back into the game; then it's a done deal.

If something happens that depletes the whole $10,000, then the 60-day scenario begins. That keeps a MH from being held ransom by a shop.
Thanks, I think that makes good sense and will incorporate this idea in the agreement.
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Old 02-01-2015, 08:38 AM   #30
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Quote:
Originally Posted by danes-on-tour View Post
Our motorhome is co-owned with a friend, and has been for 8 years now from when it was new. As is our tow car. A total investment of $200,000.

Both vehicles are insured in both names.

We drew up an agreement/contract that covers all the "what happens if/when.....". This is everything from when can you use the vehicles, what happens if there is an accident, who pays for what what, what if one party wants out etc etc.

There is also an agreement between the parties that disputes can not be taken to court. Instead we have appointed a mutual frind that will act as a judge if we end up seriously disagreeing. This is all in writing and signed by both parties.

The agreement is not in English, and for that reason it would be pointless for me to send it to you.

Today - 8 years down the road - the agreement is still in effect, and we have no regrets, and the bottom line is that we have been RVing for half price.

My advice would be that you can do this with a very good friend if you both are in the right mindset. If you are a person that wants everything "your way only" and are unable or unwilling to compromise to a certain extend, you should probably go with the advise of what most people in this thread gives you.

Best of luck to you whatever you may deside

Thank You.
Can you please send me your agreement. I can have it translated.
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Old 02-01-2015, 08:47 AM   #31
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Originally Posted by Mike and Cha View Post
This will be the problem down the road. When two women occupy the same MH (even if you travel in it at separate times) they will see the level of cleanliness, how the interior is used/kept ect. in a totally different view then men usually do. We tend to worry more about outside appearance and mechanical issues, and can live with minor differences in how the interior is maintained. You say your friend has a girlfriend but it is a good relationship, that may change if the two women disagree on something or have to clean up one of the others mess.

When my friend went thru a divorce, his wife demanded her % payout of a family vacation home,which forced them to sell the house and ultimately affected the whole family not just him. On the houseboat deals you only own 10%, so the most you can lose is your original investment and it does not affect the other investors.

When you question Gordon as to the savings/loss issue I think he is referring to more than just money. There is not going to be any spread sheet to prove it, but in the end the likelihood of these type partnerships working out are few and far between. If you were really sure about it you wouldn't have asked for advice or how to draft up an agreement. You guys would have just gotten together, wrote down some rules and shook hands on it. So your 6th sense is creeping in here. You have been given honest insightful advice here, but you know your friends better than any of us.
Its a good point about cleanliness of the RV of co- ownership. I would think we can have it clean professionally by an outside service before the other owner's turn to use it.
I find this thread to be very useful and will help us to come up w/ a good agreement.
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Old 02-01-2015, 08:49 AM   #32
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Originally Posted by gomango View Post
Thank You.
Can you please send me your agreement. I can have it translated.
My files will be at my home in Denmark, but I may be able to dig something out. I will start "digging" later today while watching the Patriots winning

If/when I find it, the text will be in Danish, but Google translate will probably handle this and give you a 85% translation.

Please PM an e-mail address.
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Old 02-01-2015, 09:04 AM   #33
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Originally Posted by MRUSA14 View Post
I've done it twice with airplanes. One time it was great, the other a disaster. It is just like a marriage. The two of you must be a good fit and work well with each other. If you don't have the same values or desires, it can be just as bad as a bad marriage.
A point well taken. Well we are not exactly in love w/ each other, but both of us are easy going guys and tennis buddies. So far we have agreed on the type of RV to get and the amount we will spend and in the process of looking for a deal.
We are going into this business deal w/ eyes wide open and thats the reason we need a comprehensive agreement and input from people like you. Thanks.
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Old 02-01-2015, 09:10 AM   #34
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Agreement

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Originally Posted by danes-on-tour View Post
My files will be at my home in Denmark, but I may be able to dig something out. I will start "digging" later today while watching the Patriots winning

If/when I find it, the text will be in Danish, but Google translate will probably handle this and give you a 85% translation.

Please PM an e-mail address.
Thank you very very much !!!
There's no rush, do it when its convenient.
My email is: aptao55@gmail.com

I think its going to be a blow out by the Patriots today.
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Old 02-01-2015, 09:24 AM   #35
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agreement

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You'll get the same kinds of comments from boating forums. There will be better than 90% against the idea, too.

To clarify what's written in post 5, do both parties own and use tools? Are both of you tinkerers, or fixers, or does one (or both) buy new when something doesn't work? You both have to be on the same page on this.

Would both of you agree to attack a problem, or would one want to call a pro while the other wants to minimize repair costs? You both have to be on the same page on this or there will be friction.


You won't find a one-size-fits-all agreement for a partnership in something that neither person needs. It's your own, personal, pre-nup.

Thanks again for your input. I am a newbie so I just figured out how to respond and reply correctly. He used to own a RV and knows more about motors etc. I think we also need to have these things in the agreement too.
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Old 02-01-2015, 10:53 AM   #36
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Originally Posted by gomango View Post
Thank you very very much !!!
There's no rush, do it when its convenient.
My email is: aptao55@gmail.com

I think its going to be a blow out by the Patriots today.
Agreement has now been forwarded (old MS Word format) to your e-mail address. This is for your and your partners use only, and should not be distributed without my permission.

Should your translation program be struggling with any specific part, please let me know
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Old 02-01-2015, 02:49 PM   #37
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Originally Posted by gomango View Post
Thanks again for your input. I am a newbie so I just figured out how to respond and reply correctly. He used to own a RV and knows more about motors etc. I think we also need to have these things in the agreement too.
With this kind of equipment, there are those that love to tinker, and those that think they do, and those that don't. If one partner takes a good bit more time and interest in tracing down a problem, and if that work results in savings at a repair shop, then the other partner ought to reciprocate in ways that benefit the partnership. Case of beer, bottle of hooch, new interior, better TVs, etc. come to mind.

If you make this a two-year plan, things can't get too far out of whack.
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Old 02-01-2015, 07:14 PM   #38
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I am considering this as well. Currently I own a 2014 class a diesel pusher and someone I do business with has asked about a partnership.

We have owned sailboats and condos and over the years though it seems like it could be fraught with problems, we've knows many couples who have done 2-4 couple partnerships.

The fact remains that for most of us there is significant capital sitting idle most of the year.

In addition to above mentioned Agy, but out, mediation, insurance etal I'm thinking that a small mileage rate into the maintenance fund would be a good idea?

May I get a copy of the Agt too?


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Old 02-01-2015, 07:47 PM   #39
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Quote:
May I get a copy of the Agt too?
Yes you may. Plz send me your e-mail address in a PM (personal message).

I think that I will take the time to translate my "agreement" into English since it may not be the kast time a IRV2 member asks me, and there is no point in several having to go through this process.

Give me a few days (depending on the weather )
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Old 02-02-2015, 08:48 AM   #40
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I'm thinking that a small mileage rate into the maintenance fund would be a good idea?

Bradrg
St Louis
2014 36.1

Good point. Planes and boats work that way where use carries its own tax.

For that, Separate your expense projections into Fixed, Variable, and Unintended. The Fixed can be figured pretty easily (insurance, storage, annual R&M). Variable is fuel plus the mileage rate that approximates oil and tire use. Unintended is what the $10,000 stash is for.
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Old 02-02-2015, 10:15 AM   #41
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If you already own it partnership may be bad idea as already stated.

But renting should work well.

He pays for insurance as well as mileage and returns it tank full.

Anything fails while in his possesion his insurance or wallet repairs.

Your insurance needs modification to include him as an operator.
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Old 02-02-2015, 04:39 PM   #42
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May I get a copy of the Agt too?
bradrg - a translated agreement has been sent to you.

Good luck
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