The Centsability of Developing with the Floating Cabin as a Floating Condominium
Norman or John
423-400-4032
800-353-4270
Typical Business Model for a Marina
Units is sold to the marina and then retailed to the end consumer
The consumer rents a slip for their Floating Cabin which typically includes water, sewer, and garbage disposal
Marina may require an association fee paid monthly or yearly
Each consumer enters into a rental management program with the marina and receives one share for each unit owned
Each shareholder that places their unit into management, will not be permitted to manage their one rentals during the term of the management agreement.
Marina operates the rental program handling reservations, cleaning,and checks out the unit for a percentage of nightly draw (Usually 30%-35%)
Income Projections for a Marina Owner
(Based on 10 Units
$50,000 Wholesale costs
$67,500 Retail Price
$17,500 Profit Per Unit (10 units $175,000
$200/ month Slip rental (very low)
10 units= $24.000/year
$5,250/year Management Fee
10 units= $52,500
1st year Return $251,500
2nd $76,500
3rd $76,500
4th $76,500
5th $557,500
Consumer cost Analysis
Purchase price of Floating Cabin $69,995
10% down payment $6,995.
Finance rate $60,750 a 7.99% 20yr
Monthly payment $507,76
Boat Slip rental $200,00
Electricity (50 Amp) $100,00
Total monthly Expense $807,76
Income Projections for Consumer
Rent 100 Nights/Year $15,000
Management Fee (35%) $5,250
Total Revenue for Buyer $9,750
Total yearly Expense $9,693
Net cost for Buyer for unit on water
$56,88/year or $4,74/month
And stay for 265 days
Now thats a Great Vacation HOME