You Deserve a Luxurious Yacht Charter
If you find yourself stuck on something, if you find yourself unable to make progress on a project that your company is working on, you need to get away from the office and your laptop. You need a “Yacht-Ready” vacation.
Yacht Charters: The Ultimate Getaway
Too often, CEO’s try to ram every bit of our businesses through a tired mind, which usually results in a false positives and (in some cases) failure.
If this sounds like you right about now, you need a break. You need to get away. And as a powerful CEO or entrepreneur, you have the luxury of making that getaway count.
How to Charter a Yacht
No matter what ocean-line you’d like to visit around the world, there will always be a yacht charter company close by to offer you a yacht charter that give you the greatest pleasure on the open seas. “Charter” essentially means to “rent” a boat with (or without) a full crew to let you experience an open world that you never thought possible.
To get started, narrow down the city that you would like to visit, and do a Google search for “Yacht Charters “enter city name here‘”.
Once you have your results, click on one of the first few results that come up. Check out their yachts and what might be available for around the time that you plan on taking your yacht vacation into the open waters.
PRO TIP: Once you find a qualified yacht charter service, consider checking out Yelp.com and looking up the company’s ratings to make sure they are legitimate.
Owning Instead of Renting
Let’s say you fall in love with the idea of a yacht charter, and want to take it to the next level and PURCHASE your own yacht to get away whenever you want.
If you have the money, I would HIGHLY advise this. The yachting industry is actually booming these days. By owning out your yacht, you could make a considerable amount of wealth on the backend by owning one as a personal investment.
Plus, nothing screams “sexy manliness” like owning your own yacht.
Financing a Yacht
Many people have equity in their homes and can very easy get a home equity loan.
I recommend checking into this because the rates can be very low to finance a yacht in this manner. Especially if you only plan on holing onto this yacht investment for a few years and plan on selling it from there.
You can later sell the yacht and instantly pay off the loan in cash.
If you happen to reside in the U.S., you can borrow cash through marine lenders if your FICO score is over 700.
It’s also always good to check you FICO scores first before you talk to any lenders and they pull your credit.
Likewise; it’s usually a good idea to have a debt to income ratio below 35%.
Stock Portfolio Financing
Another good way to finance a luxury yacht is through stock portfolio loans.
Many times your personal stock brokerage will loan you up to the equity that you have in stocks (which may be about 1% over the LIBOR rate).
Using this method can result in a super cheap loan.
And finally: if you happen to decide that you love yachting SO MUCH and want to live on this boat for an extended amount of time…
NEVER mention to a lender that you’re going to live aboard the boat.
Doing this will cause an alarm in their eyes and they will begin to expect the worst. (Back to that inevitable “Murphy’s Law” that we talked about before).
French Financing Tactics
If you are not a US resident, you may be qualified to get special “French Financing” where you put 25% of the asking price down.
By using this tactic, you will need to leave the yacht it in charter for five years, and the charter company pays the loan down with the income that it earns.
In using French Financing, you are allowed to use your yacht up to 12 weeks a year but you have to leave it at the charter’s initial base.
The good news is that you can use other yachts around the world that are similar to yours during the course of ownership.
At the end of five and a half years, the loan will be paid down to about 35%.
From here, I advise to sell the yacht and pay that loan off or finance the yacht at 35%, which is also relatively simple to do (given that your loan is in good standing).
Life is Short
Everyone deserves a break. That includes you. Don’t let work beat you down. That’s not why you became a CEO. Sometimes it’s hard to remember that.
For more tips on the best way to get a yacht charter vacation, check out www.yacht-ready.com. They have excellent information for “newbie enthusiasts” looking to get into yacht life.