It's cheaper to just rent a week from someone at Redweek.com. There are some great deals to be found there. The "HOA" (I think they use a different term) can also change whatever they want on you-meaning that your $400 maintenance fee can become $800 with no notice.
In the end, all "ownership" means is an added expense. There is a reason why they hard sell them to tourists.
Tug.com is a good place to go for info from current owners-some of which are happy, some of which are just trying to figure out how the hell to get out of the mess that they are in.
Bad investment
In the end, all "ownership" means is an added expense. There is a reason why they hard sell them to tourists.
Tug.com is a good place to go for info from current owners-some of which are happy, some of which are just trying to figure out how the hell to get out of the mess that they are in.
Bad investment
They are a great thing, if you buy them on ebay. They're expensive as hell if you buy them at wholesale. You can get the same thing for 15 cents on the dollar in the after-market. Once I found out that the product I was selling was worth pennies on the dollar, I left the business.
I agree with most people here not worth it and in my opinion almost scam like my parents got a couple in florida bought them in the early 90's they paid 10 and 12 grand for them and now the best you'd get for them is around 2500 each at best also the maintenance is after tripling going from 250 each per year to 750 each per year and when they bought them they were told maintenance would never go up. And a couple years ago they remodeled and updated stuff down there and guess who had to pay that my parents for another couple g's
Another big selling point at the time was they would rent them out for you if you were'nt going for over 300 a night thats another pile of crap, well they wont rent them out anymore but when they did you were lucky to get half of that and there was a lot of hidden fees so you might get enough to pay the maintence bill.
Anyway its a nice spot I was there a few times as a kid and my parents still go almost every year but not worth the money no were near, I would stay far away from em.
Another big selling point at the time was they would rent them out for you if you were'nt going for over 300 a night thats another pile of crap, well they wont rent them out anymore but when they did you were lucky to get half of that and there was a lot of hidden fees so you might get enough to pay the maintence bill.
Anyway its a nice spot I was there a few times as a kid and my parents still go almost every year but not worth the money no were near, I would stay far away from em.
Yes. You can't make any money buying them cheap, though. Unless you are ruthless and paint the picture to unsuspecting suckers that you are giving them a helluva deal when you give it to them for half price. Once I started researching the after-market, I quit my job. Tough on the conscience when you know you are selling something that isn't worth shit once they sign the papers and leave. Timeshares at wholesale are one of the biggest scams out there.
I have heard the original owners of a timeshare can be obligated forever, regardless of who they sell it to. Getting released from a timeshare is next to impossible. People will buy them on the after-market, run up a bunch of bills and then the timeshare people go after the original owners.
Completely false. They are real estate and have a deed. The reason you might have heard that they are hard to get rid of, is because people don't want to sell something that is worth 15% of what they paid for it. At the fair price that they are worth, they are very easy to sell and transfer the deed.
