Post reply

Re: Buying timeshares (even resale) (by Archie B.):

phill12

wayneb24 wrote:

I agree with you if you can rent the place for close to the maintenance fee, but that is rarely the case with 5 star resorts in high season unless you are looking at a place where there are a tremendous number of timeshares.

I have rented many 5* and Gold Crown units for the cost of maintenance fees or below. With education and a lot of research on the internet, you can do the same. For instance, when you see a unit for rent at a resort and the rental is upcoming, most owners will negotiate their listing rental price. Also, when you see the same unit listed for rent for several weeks or months, the owner will more than likely negotiate their rental (or for sale) price.

Many owners just want to recoup their maintenance fees (or less) when renting, since there's a glut of rentals (and sales) on the internet and in the marketplace. It's a buyers and renters market.

The internet has been revolutionary in changing the timeshare rental and sales market. ========================================

{PHIL]

We have a friend and his family that have gone on vacation with us couple times. I tried talking him into a buying at The Ridge Tahoe with us and he wanted no part of owning one.

Dale would give me all the reasons from low-lifes selling to high MF and rising cost and waiting for trades and I couldn't argue his points. As a owner three different times over the last 13 years I new he was right and we bought because we like more than a hotel room and wife has to have her kitchen when you spend seven days some where.

They like timeshares and have rented over the last five years. He showed me why they would never buy a timeshare and he has taken four vacations plus ones with us. He mention all the draw backs owners have and said the worse thing that happens to him is he doesn't rent a unit at a resort he liked. He said he then trys another resort. He's out nothing but a little time.

He proved his point couple years ago when we went with his family to Cancun. He asked us which condo's we would like to stay in and when. We gave him a two week period three months before vacation time for us.

He entered all the e-mail addresses in his e-mail listings.

He then showed me his e-mail to condo owners at two resorts we liked. He offered half price of what the average asking price was. The condo's listed around $1800 for two bedroom summer time.

Dale added all the addresses to the e-mail so all the owners would see they were not only owners this offer was sent to stating the amount he would pay for that weeks and to please let him know because he would take first offer. One resort had about 30 units for rent during those two weeks.

I told him there is no way he will get a unit at that price and he said their last four vacations around the country were done the same way.

He sent his e-mail and over next couple days had e-mails from some blow hearts telling him he was out of his mind but he could rent their unit for $2000. Dale sent quick e-mail just saying no thanks. Within the next three weeks he had seven owners e-mailing him to make the deal for his price. We had great week and over drinks he rubbed it in about us owning a timeshare. This two bedroom cost him about $500 more than my MF at The Ridge.

Funny part is two weeks from time we were leaving he gets e-mails from two of the blow hearts asking if he was still looking for a unit and would agree to his price.

Dale and his family would never buy, but he said he would buy same way and wouldn't be paying thousands of dollars to an owner. He said he could buy at my resort just by getting owners offers off about five sites and sending same e-mail and probley not spend more than $1500 for a top unit and I think he could do it without much trouble. Funny thing is this is so simple and not many buyers think about this.

Very true with rentals also... especially towards the end of the year, when the unused points will be expiring. For every unreasonable owner who wishes to stick to principle, there will be several owners who understand 'real world' economics and who will rent out at lower than their asked price to re-coup their maintenance fees. The past two years we've been able to rent a deluxe 2 bedroom unit at the luxurious Fairfield Grand Desert in Las Vegas for less than $100 per night. I'm happy to pay somebody else's maintenance fees for a quality place like Grand Desert.