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Re: Montecristo Villa Purchase or not to Purchase (by David and Marlene M.):

We purchased Villa 8 when Montecristo was just a vision. We own the month of April and 2 floating weeks during the summer. We have been able to rent our unit in 2005 and 2006; 2005 was rented at about 350 /day and 2006 for 425 per day. We have been very successful in making enough to cover our maintenance fees plus a little but I wouldn't bank on covering the payments to a 112K mortgage. We have used our unit the two floating weeks of July every year; this year I rented to my brother and friends for 2K for the week and donated 1 week to a local charity. If we don't get any of April rented, we will probably go down for a while. I had one inquiry thus far on Vacation Rental By owner. One of my regular rentors is not able to come this year but is hoping to come next year.

How many weeks are they selling for 112K and what is your maintenance fee?

Marlene Macbeth

arip2 wrote:

My wife and i were invited to listen to a presentation to purchase a fractional ownership at Pueblo Bonito. The sales guy, Dirk Meyer, mentions that we could purchase an ownership interest in a house for $112K, using a 0%credit card and financing it with mortgage lender. So, in essence we get in with 0 down. The rental income will more than offset the mortgage payments, commissions and fees. What have been your experience? Would you do it?

Thanks,

Ari