Fractional Ownership Offer

hello all, thank you for your help

My wife and I just returned from a stay at Pueblo Bonita - Sunset Beach Resort in Cabo San Lucas. I was with two other couples and we decided to take them up on their offer of attending a presentation in exchange for $100 per person room credit. I have attended these in the past and expected to eat a decent breakfast listen to the spiel and respectfully decline their offer.

Instead of the standard timeshare unit they proposed us a deal at their MonteCristo villas, this is what we were offered:

1. Purchase price for the program was approx $50k 2. No annual maintenance fees 3. UNLIMITED stays at the Montecristo villas or comparable (villa style) properties through an exchange program. I think that it was affiliated with an RCI type of exchange. Approx 200 properties accross the globe 4. Cost per week of stay at villas not to exceed $1,495 5. UNLIMITED bookings at 4 star hotels (suite type accommodations) for - $300 to $700 per week 6. Concierge service to book all of these stays

We plan on doing a lot of traveling over the next 10 or so years so this actually seemed like a good deal to us - dividing the initial cost among 4 couples and then using the rentals as best fit our individual travel plans, some times as a group sometimes alone

Does anyone have any experience with this program that they can share, i have searched the web and can find no reference to this setup, positive or negative

Thank Vitorjose

Do you have an extra $50,000 sitting around that you don't need for anything at the moment? If not, then I would suggest declining this offer.

Remember, if five years down the road you decide that this is not the travel lifestyle you want or your circumstances change (ie. loss of job, declining health, etc.), you will never recoup that fifty grand.

Lance

Thanks for the reply - no i dont have a spare 50k hanging around. We were thinking of doing this with 4 other couples which would bring our cost down considerably

Have you seen this kind of promotion previously ??

Well, you know your circumstance, travel needs, and preferences better than I do but a few questions ring loudly in my head about this offer?

If you're splitting this five ways, then do you have an extra $10,000 sitting around? Do each of the other four couples? What happens if even just one of the couples want to pull out after a few years due to changing circumstances or travel preferences?

When you talk about wanting to travel a lot, was this idea planted into your heads right around the time you attended this presentation or was this something you were contemplating long before?

As for traveling, factor in all the peripheral costs. Remember, this deal that they are offering you only helps you out with your accommodations. They won't save you significant amounts of money on airfare, car rental, parking, activities, etc.

What if one year you decide that you want a different type of vacation such as a cruise, all-inclusive deal, escorted tour, or visiting friends and family? How is this $50,000 package going to help you save money?

Finally, just a personal observation (take it for what it's worth), this deal seems merely to me like a rental discount. Have you checked out what similar timeshare units rent for if you rent from owners?

Anyway, that's just some food for thought. I wish you the best with whatever decision you make.

victorp51 wrote:

Lance

Thanks for the reply - no i dont have a spare 50k hanging around. We were thinking of doing this with 4 other couples which would bring our cost down considerably

Have you seen this kind of promotion previously ??

In this economy when timeshare rentals are at the lowest in decades (or can be negotiated), I would decline this socalled great offer and rent from owners instead. Just think of how many weeks you could rent for $50,000.

Also, I've found that partnerships with others (even family) are not the greatest way to go down the road .... whose name would the contract be in .... surely not 8 people.

victorp51 wrote:

Instead of the standard timeshare unit they proposed us a deal at their MonteCristo villas, this is what we were offered:

1. Purchase price for the program was approx $50k 2. No annual maintenance fees 3. UNLIMITED stays at the Montecristo villas or comparable (villa style) properties through an exchange program. I think that it was affiliated with an RCI type of exchange. Approx 200 properties accross the globe 4. Cost per week of stay at villas not to exceed $1,495 5. UNLIMITED bookings at 4 star hotels (suite type accommodations) for - $300 to $700 per week 6. Concierge service to book all of these stays

We plan on doing a lot of traveling over the next 10 or so years so this actually seemed like a good deal to us - dividing the initial cost among 4 couples and then using the rentals as best fit our individual travel plans, some times as a group sometimes alone

Does anyone have any experience with this program that they can share, i have searched the web and can find no reference to this setup, positive or negative

Thank Vitorjose

In order to exchange with an exchange company you have to own a week of timeshare (or points) to deposit .... it would seem to me, going by your post above, that you would own nothing to deposit ..... you would merely have a contract with a travel club of some sort.

Also, you have to consider your life situation in the future (ie: job situation, health, air fare, children etc.)

I would not lock myself into this type of travel club when there are hundreds of very nice resorts where you can rent from owners for less than $1495 (not counting the initial $50,000 cost). It would seem to me that you're paying that whopping amount in order to rent somewhere in the future for $1495 a week (does that really make sense when you think about it). Travel club salespeople and timeshare salespeople have a way of making you think their offer is the best thing in the world.

(P.S. I had not read Lance's last reply above before replying, however we're basically saying the same thing .... great minds think alike :o) !

I will say that all the post to you should tell you something like NO!

Another way of saying it is {ARE YOU OUT OF YOUR MIND}

So many things can go wrong and probably will including losing your friends and most of your money down the road. Run for the hills and keep your wallet in your pocket!

PHILL12==JUST MY OPINION