Questions for your Consideration!

Why Purchase instead of Rent?

When you purchase a slip with Coastal Yacht Hangar, not only do you own your very own climate controlled slip, but you become an equal owner in the entire facility!  (See Rent vs. Ownership comparison chart)

When you purchase a slip with Coastal Yacht Hangar, you become a part of one of the most unique and technologically advanced boat storage facilities in America.  An investment, not just in property, but in a lifestyle very few get to enjoy.  Remember you are getting rare ownership to water access rights for life, plus an investment that should generate equity and continued appreciation over the life of ownership.  To our knowledge, no one is providing a boat storage facility with these amenities, at this level on the Eastern Seaboard.

What services are being provided?  

Concierge service at the highest level with full call ahead boat provisioning, including, fueling, and food and beverage service. 

Is my investment (my dry slip or my wet slip) in short supply?

In Carteret county NC (Beaufort and Morehead City) and the surrounding areas.  YES, all current marina, wet and dry slip, offerings are almost non existent and filled to capacity.

Will my market support my investment today and in the future?

In Carteret county NC (Beaufort and Morehead City) and the surrounding areas there are over 100 Boat builders, large and small, who will continue to build for the future and service both the fishing and pleasure boat industry.

Does my investment allow for a larger boat purchase in the future or am I stuck with one size?

The Coastal Yacht Hangar LLC provides dry slips up to 45 feet and 40,000lbs.  Allowing plenty of room for future growth for you or another future buyer well into the future and in the same dry slip.  Phase 2 may accommodate even larger boats.

How far to the ocean is my investment?

The Coastal Yacht Hangar LLC is on the intra-coastal waterway just 5 miles to ocean access.

How deep is the water?

The mean depth at the Coastal Yacht Hangar LLC site is 12 feet.

What type of Amenities do I receive when I purchase a wet or dry slip?

Convenience and service are at the top of our list.  See the Amenities Section of our web site to see all that comes with your investment purchase.  Unlimited orbits in and out of storage are one of our biggest.

How is my boat handled and sheltered in my dry slip so that I can rest easy knowing my investment is protected? 

See the Technology Section of the Coastal Yacht Hangar LLC web site to see how your boat will be taken care of.

May I just rent a slip?

Not at this time.  We want our clients to be vested in the success of their facility and we believe ownership gives the client a much larger voice.  Currently we are filling owners only.  If conditions change in the future, that may become a consideration.

Are there any Property taxes and Insurance?

Yes. Taxes must be paid on dry slips or wet slips just like any other real estate that you might own.  Please consult the Carteret County Department of Taxation for an estimate of your tax liability.  Association dues will also be required and are partial payments for insurance of the building and amenities that are offered.  Moreover, the boat owner will be required to have boat liability insurance before being granted dry slip storage.

What type of ownership is available?

FEE SIMPLE Ownership of dry and or wet slip dockage is a fee simple title with a warranty deed that frames ownership of any submerged land and air rights associated with the slip forever.  Similar to owning a condominium, all aspects of common and limited common elements are detailed in the association documents provided prior to purchase.  Fee Simple slips within a marina environment are typically governed by a Property Owners Association.

What are my annual dues and fees?

Association fees which cover facilities maintenance, insurance, employees, etc are determined by the size of the dry and or wet slip.  The Coastal Yacht Hangar LLC has two different lengths; 42 feet and 45 feet.  There are also 3 different widths and heights within those two length categories.  The exact association fee is specified in the Property Owners Association document, and currently will run from approximately $225/mon. to $325/mon.

Can I lease my slip after purchase?

Absolutely!  If you don’t have a boat yet and or just want someone else to help make your payments, as the owner you can lease out your slip.  The only additional fee that you might incur is if your perspective renter changes and he has a different boat type.  This would require a new custom boat cradle.  With your purchase comes one custom boat cradle.  If we have to change or modify the cradle after the first time, that expense would be covered by the owner.

What about financing?

The Coastal Yacht Hangar LLC has several lending institutions lined up for your consideration in the purchase of this investment, but in no way would we not consider a lender of your choosing.

Does my investment meet the 1031 Tax Deferred Exchanges?

Yes, depending on the type of exchange you are considering.  If you wish to defer capital gain taxation indefinitely, please consult first with your tax and/or legal advisors.

Are their any potential tax benefits and insurance savings?

Potentially Yes.  Depending on your tax status (check with your accountant, and insurance agent to see if you qualify for any savings.

Is there shore power?

The Coastal Yacht Hangar LLC is currently planning on providing dry slip shore power for those wishing to power items such as refrigerators, electronics, and battery trickle charging.  Problem Monitoring software for the electric feed is being investigated to provide all safe guard requirements for each owner.  The owner will pay his/her metered use as well as a 10% service surcharge.  Please keep in mind that the building is conditioned to provide the proper dry humidity for long term protection as well as heat when needed to provide protection when cold weather settles in.  This amenity will allow for minimal use of our owners electric requirements.

Can I purchase and then flip my investment?

YES; if following the Transfer Restriction discussed in the Exhibit A of the Coastal Yacht Hangar LLC, Offer to Purchase Agreement that will be provided once we offer full contract purchase.  EXHIBIT A of the Offer to Purchase Agreement is listed here for your review.

EXHIBIT A (Offer to Purchase Agreement)
1. Transfer Restriction. Except as may otherwise be agreed to in writing by Seller and in consideration of the beneficial pricing being given to Buyer, Buyer agrees that he shall not list “for sale” or otherwise, transfer, assign, sell, pledge, hypothecate or otherwise dispose of the Unit until the earlier of the following to occur:

i.   Two (2) years have passed from the date of the initial purchase from Seller;  or
ii.  Seller has sold eight-five (85%) of its unit inventory in the first phase of the development (planned as 10 units with wet slips and 199 units for dryslip storage)

This provision shall have no effect regarding voluntary transfers made by deed, gift or devise to a person related to the Buyer in the first-degree by blood or marriage, transfers to a corporation or limited liability company in which the Buyer is the majority equity owner or in regards to involuntary transfers resulting from death, divorce or the result of foreclosure of a monetary obligation secured by the Unit.  Notwithstanding the above and in each case, the restrictions as to other transfers not specifically permitted hereinabove shall continue in its application as to the transferee.

"The person who goes farthest is generally the one who is willing to do and dare. The sure-thing boat never gets far from shore."

Dale Carnegie