Bravada Yachts
Reviews and Complaints

The same owners of Bravada yachts now have opened another LLC. Named Riviera Penthouses LLC. They took our 20% deposit plus payments for 7 months and now tell us project is on hold. They will not refund money. They have not built any of the boat even though they have a 153,000 dollars wish I would have came here first and took the advice money should go into escrow account not into their LLC they should have to show progress on your house boat. Better yet just do not do business with Riviera Penthouses LLC also they are advertising has Havasu Yachts. We are good hard working people having our money stolen by this company do your research they have litigations pending. Stay away.

Here is what Bravada doesn't tell you when you are purchasing a share from them.
1. There is a strong possibility that your boat will not be ready by summer. Of-course they make you pay upfront in cash but they won't start production on your boat until 80% of the shares are sold. Oh yea there's no refunds once you are in, they will just push production to the next summer. By the way this isn't disclosed in your contract or even during the sales process, it's just something they decide and they inform you your boat won't be ready this summer.
2. The boats they use on their website and in their marketing materials, yea those aren't the boats you purchased. The gray paint and the orange accents, yea that is an upgraded. A $40, 000 paint upgrade. Your boat will be plain white. See the really nice flooring in the picture online that looks wood? Yea that's an upgrade, a $52, 000 upgrade. They dont disclose this in their contracts or ever during the sales pitch. They show you the best boat possible, then 2 months prior to completion they tell you about the upgrade fees. Your Share price is likely to go by $30, 000- $100, 000 by the time you get your boat! Also if you buy a share and your group chooses to upgrade the paint, the flooring and anything else... majority rules! Thats right you could be obligated to pay another $30k-$100k after you purchase your share.
3. The company was bought out of Bankruptcy 2 years ago & is run by owners who have little to no experience with yacht companies. Yes they have owned a houseboat before 1 share on the boat Atlas, but never run or built multi million dollar yachts. They are figuring it out as they go. And the money you give them for your share price, often goes to lavish parties, marketing events at Barrett Jackson Auto Auction, Golf Tournament sponsors, Large owner Salaries and whatever else they need to keep the cash coming in. Sounds like the beggining of a PONZI SCHEME in my opinion, but certainly a recipe for disaster & most eventual criminal charges when the house crumbles and people that purchased shares loose their money & get no boat.

Here is what I recommend you do if you purchase a Share with Bravada:
1. Schedule a payment plan. Just like when you build your house, a bank doesn't hand over your builder all the cash upfront and hope he builds it. The builder has to request cash draws, then proove to the bank that he has completed the work. YOU SHOULD DO THE SAME WITH BRAVADA! Agree to a price upfront and require them to request draws, and prove the work on your boat is being completed. even if you have to put all the cash into an escrow company or with a lawyer so Bravada knows it's all there, don't release it all at once.
2. I would make sure you get date of completion in the contract. A date that the boat must be completed, or else they refund your money in full.
3. Make Bravada sign off on exactly what you were sold. If their are upgrades they need to be identified in the contract. No Surprises Later!

I purchased my share for $140, 000 in November 2018, I'm sharing this based on on my own personal experience with the company. It has been a nightmare with no end in sight and no boat...?