Can I affored a Sunseeker Predator 108?

Not being a "Smart Alec". Your idea although fun to think about, would be fun to simply continue thinking about it. Whatever can go wrong will go wrong, especially after acquiring something is going to most likely need money thrown at it from the outset. With nothing in the bank and no charter revenue to bank on, well...See where I am going with this? I think the risk is too larger to be honest and it doesn't sound like a smart financial decision. But hey, thats just me. I sold my company last year and have been investing in real estate that doesn't float.

Troll Post of the Year?

If not, then you are an optimist, maybe even a reckless one.
Way too many things can go wrong with the above plan, but if you do go full speed ahead I wish you luck.

No

Truth is if you ask if you can afford something chances are you can’t .

I know I could not afford a 100 plus foot boat. And relying on chartering is never going to pay to the boat and maintenance.

This..

Info to the Original Poster:
A big boat, in Mediterranean, in a nice port, with dockage, crew and commercial insurance and equipment for charters, will cost quite a bit more than you can imagine.
In Fort Lauderdale, another expensive Port, the going rate is 10% per year of what you paid for the boat.
(I was double that, but a perfectionist and able to deduct all the expenses on Federal Taxes, before I shut the business down January 31. 2023, also a smaller boat)

A good rule of thumb is if you can afford to give the boat away, and it doesn't affect your lifestyle, then go ahead and make the purchase. If not, it will be stressful and not worth the risk.

Centuries ago, I started a small biz leasing my private airplane for towing banners and skydivers. I never made a dime. My losses were very limited, and I got to write off expenses. I basically got use my own plane for almost free. Moved up and did the same with homes, with buying and renting them after buying another home. And on to apartments. You sound like a challenging fellow, so go for it. Maybe it'll work, maybe it won't. But seems like you'll have a bit of fun along the way.

My new boat is only have the size you are considering, and I'm going to let it for charter, just to get the commercial tax write-off. I have no plan to make any money on it, but maybe defray some of the fixed costs. Lets have another post or two, showing you're not a troll. Or - not.

This is quite an interesting case and raises several questions about the viability of turning luxury yacht ownership into a profitable business, especially if you plan to manage it yourself. Here are some considerations:
1. Financial Aspects:

• Purchase and Financing: Buying a 108-foot yacht like the Mangusta or Predator 108 for 2 million euros is a significant investment. If you decide to mortgage it with a maritime loan, you’ll need to evaluate not only the monthly payments but also the annual maintenance costs, which can be considerable, even if you don't hire a full-time captain.
• Mooring: $3,000 per month for mooring is a significant fixed expense. If you decide to live on the yacht for 3-4 months a year, this cost is constant and must be factored into the profitability of the business.
• Maintenance Costs: In addition to mooring costs, maintaining the yacht will be one of the biggest concerns. While you may handle some aspects, like hiring local sailors and managing the boat yourself, repairs and upgrades can still be expensive, especially if the boat has complex systems. Mechanical costs and upgrades could add up to a significant portion of your income.

2. Yacht Rental:

• Rental Income Potential: If you can rent the yacht for 60,000 euros per week and you rent it for 6 weeks per year, you would generate around 360,000 euros in income. However, you need to consider that operating costs (mooring, maintenance, crew salaries, etc.) will significantly reduce this figure.
• Profitability: Renting a large yacht like the Mangusta 108 can be profitable, but the number of weeks you can rent it will depend on the demand and competition in the region (in this case, the south of France). Luxury yachts are often in high demand during the peak summer season, but the demand decreases outside of season.

3. Operational Costs:

• Captain and Crew: While you plan not to hire a full-time captain and only do so when you rent the yacht, you’ll still need to cover the crew costs for the weeks the boat is rented. Depending on the crew (captain and sailors), these costs can be high.
• Maintenance and Repairs: A yacht of this size and luxury level requires constant maintenance. The experience you mentioned with your Jeanneau Prestige, where mechanics had to make repairs after each use, is a good indication that luxury yachts can be expensive in terms of maintenance.
• Insurance and Other Expenses: Insurance will also be a relevant expense. Luxury yachts require full insurance, and depending on the region, costs can be high.

4. Feasibility of Living on the Yacht:

• Living on the yacht: Living on a 108-foot yacht is possible, but it may not be as comfortable in the long term as an apartment. The onboard amenities can be luxurious, but the space may be limited for working, especially if you plan to live aboard for several months a year. Still, if you’re single and in good shape, it could be a viable and exciting option, as long as you enjoy life on the sea.
• Weather Conditions: If you live on the yacht in the south of France, you will also need to consider the weather conditions, which can be unpredictable at certain times of the year.

5. Risks:

• Financial Risks: As you mentioned, the risks associated with this investment are high, especially if you don’t have enough capital in the bank to cover unforeseen expenses. Unexpected costs such as engine repairs, equipment upgrades, or fines could jeopardize the financial viability of your plan.
• Operational Risks: While you may manage the yacht yourself, if something goes wrong (e.g., a major mechanical issue), the repair costs could be high. Additionally, managing a yacht of this size by yourself also means taking full responsibility for the safety of the boat, the crew, and passengers.

Conclusion:
The idea of living on the yacht and managing it as a business could be viable, but it requires detailed financial planning and a thorough analysis of the risks involved. While renting the yacht could generate significant income, operational and maintenance costs will also be high. Additionally, managing the yacht yourself can work, but it will depend on your skills, the time you can dedicate, and your willingness to take on risks.

It is also important to consider unforeseen circumstances and ensure you have a financial cushion to handle tough situations. If you need my help to plan this out in Ibiza, we specialize in this.

To my mind it's rather simple. If you want to purchase a large vessel in order to live on it, but in doing so you need to charter it 6 weeks each year, then back to the title of your thread, you can't afford it. That doesn't mean that you can't do it. That doesn't mean that your business plan cannot work. However there is a strong possibility that it will fail to produce the NOI you're contemplating, and thus you can't afford to do it without risking being forced back to shore.

So, if you want to live aboard, shop in a size range that you can afford to support without the chartering. While you're doing that, obtain your licensing and requisite insurance, and experiment with some sunset cruises or something. Develop both the experience and knowledge required to enhance the path to success. If you get to that place, then consider stepping up.