[dewilson58]

Originally Posted by Michael G.

Wife and I were just talking about that not long ago.
Everyone connected to finance business say don't buy one and yet
many of our wealthy friends all own one.
One has 4 that they own.................and these are frugal people with their $$$$.

What am I missing??

The key word is WEALTHY.

Example:

Initial buy-in $25k to $35. (there are more, there are less)
Gets you one week usage (annually) at any of their locations.
Annual fees $2k. (there are more, there are less)

So if you use it for 10 years you have paid $50k to $70k for ten weeks of vacation in a condo......full kitchen, two bedroom, living room, with resort grounds.

So to wealthy people..............fifty grand, nice place to stay...........why not.

[Stu from NYC]

Originally Posted by Michael G.

Wife and I were just talking about that not long ago.
Everyone connected to finance business say don't buy one and yet
many of our wealthy friends all own one.
One has 4 that they own.................and these are frugal people with their $$$$.

What am I missing??

Why in the world would someone own 4 unless he has a way of renting out his week and making money on it.

[retiredguy123]

Originally Posted by dewilson58

The key word is WEALTHY.

Example:

Initial buy-in $25k to $35. (there are more, there are less)
Gets you one week usage (annually) at any of their locations.
Annual fees $2k. (there are more, there are less)

So if you use it for 10 years you have paid $50k to $70k for ten weeks of vacation in a condo......full kitchen, two bedroom, living room, with resort grounds.

So to wealthy people..............fifty grand, nice place to stay...........why not.

The key word is frugal. A frugal person would never buy a timeshare, unless they were the victim of a high pressure salesperson. I would never buy a timeshare.

[dewilson58]

Originally Posted by retiredguy123

The key word is frugal. A frugal person would never buy a timeshare, unless they were the victim of a high pressure salesperson. I would never buy a timeshare.

I think MG's example jus proved you wrong..............one individual owns four......victim four times?? Probably not.

Maybe you're not wealthy enough.

[retiredguy123]

Originally Posted by dewilson58

I think MG's example jus proved you wrong..............one individual owns four......victim four times?? Probably not.

Maybe you're not wealthy enough.

Wealthy people are not always smart. I suspect that they are not as frugal as the poster thinks.

[Stu from NYC]

Originally Posted by dewilson58

I think MG's example jus proved you wrong..............one individual owns four......victim four times?? Probably not.

Maybe you're not wealthy enough.

Can you think of a reason to own 4? Other than if you rent them out and make a return on your investment makes no sense to me.

[dewilson58]

Originally Posted by Stu from NYC

Can you think of a reason to own 4? Other than if you rent them out and make a return on your investment makes no sense to me.

Sure.............lock into your favorite four locations (since you have priority at your purchased location).

[dewilson58]

Originally Posted by retiredguy123

Wealthy people are not always smart. I suspect that they are not as frugal as the poster thinks.

A wealthy person with $5mil, it's only 1% of your funds................no big deal.

[jrg908369]

Originally Posted by dewilson58

For those who have one and are enjoying.

At a Club Wyndham presentation years ago. They use a points system so you can stay at any of their resorts plus RCI resorts. They wanted something like $35,000 for about 125,000 points which worked out to about 2 weeks of vacation each year. I declined and started researching resales. Found an older man who ended up selling us 818,000 points for $5,000. The points renew every year so we get 8 to 10 weeks of vacation every year. It could have been a scam but seemed worth the risk and has paid off handsomely. Not for everyone but it suited us perfectly.

[Two Bills]

Many years ago when time share selling was big business in Orlando, my wife and I attended several seminars that offered free Disney tickets.
That was a definite time share bargain, and saved the kids a good few $$$.
The sales people sussed us in the end, and we were black listed from all seminars!

[djplong]

Any other timeshare is definitely not for me. I bought into the Disney Vacation Club back in 2007 because of the flexibility. When my mother died in 1990, her timeshare company tried to pressure me into taking her 'week' and I told them to go pound sand and foreclose.

It's really only "worth it" if you visit Disney often and want to put some "cost stability" into your hotel stays. BUT, that being said, we've rented out our points many times for a profit. The flexibility of which resort and what size room and when makes the deal - IF you go there. You're somewhat insulated from the crazy hotel price hikes.

And we have no trouble finding renters (I use a broker). Heck, renting out our points at the Animal Kingdom Lodge has paid for our honeymoon and contributed towards trips to places from New Zealand to Germany and Italy.

[dewilson58]

Originally Posted by jrg908369

Found an older man who ended up selling us 818,000 points for $5,000.

Now there are for sale by owner websites jus like: houses, RV's: Vacation rentals, cars, etc.

[jparsoneau@aol.com]

I have three weeks in Hawaii is my homebase. But like it’s been mentioned if I don’t want to go to Hawaii, I just trade them into RCI or ICI, which has a bank of timeshares and go anywhere. I want wait times have gotten longer these days, but Hawaii is always a number one draw so I never have a problem trading it in. Biggest problem is they just don’t use it every year. Even considering selling it for the price I paid for it 20 years ago. And yes, I may not on an individual unit I do on a week at this resort times my three timeshares giving me three weeks
Also,I would be interested in selling one, two or three weeks if anybody’s interested.
I too, have stayed in Hawaii on different islands, Florida, Vegas, Tennessee, and a couple others as well I believe.

[Windguy]

Watch this very informative and funny(!) video before getting into a timeshare:

https://youtu.be/Bd2bbHoVQSM

[gwenhwalker@yahoo.com]

I have one in Williamsburg VA that I never use and would gladly give away. It's paid in full. Just annual maintenance.