Timeshares

[Vick_]

Who has them? and are you benefiting from them?

I have 3 and i feel like i'm getting the benefit of them.

[PIYF]

When I watch the commercial, it just seems like a scam.

[Vick_]

lol, its not a scam.

[PIYF]

Do you rent a place with other people?

[speedtek]

i want to get a timeshare in vegas. im sure that would rake in money

[Vick_]

Do you rent a place with other people?

i rent the place with the hotel/resort

just pay for the maintenance fees

[VTi EG6]

I never really under stood how that worked. :hs:

[Vick_]

I never really under stood how that worked. :hs:

at first i was confused and all, but 9 months passed i was making A LOT of money...

you have to do a lot of research on how timeshares work

[westside]

Whats a timeshare?

[tit$]

at first i was confused and all, but 9 months passed i was making A LOT of money...

you have to do a lot of research on how timeshares work

tell us about it.. my dad has one and he's definitely losing money on it. never really saw a way to make money out of it before but i know squat about it.

[Cloud Nine]

my parents just bought one in florida and it can basically be used anywhere that company has a hotel/resort. they claim u can use it anytime/anywhere, so well see if we benefit from it when we goto the bahamas this year

[RaCinStylez]

There is NO benefit to a timeshare!

[tit$]

There is NO benefit to a timeshare!

that's what i thought - which is why they have to resort to giving stuff away for you to buy them. shit i'm all about a new way to make money if its true though - would love to hear it.

[Narcissistic]

that's what i thought - which is why they have to resort to giving stuff away for you to buy them. shit i'm all about a new way to make money if its true though - would love to hear it.

you can buy an apt in Buenos Aires Argentina and rent it to tourists.

[LG]

my parents and my uncle bought a timeshare in south padre island. it was $85,000 so basically we are just paying off the house, first. so, we wont see any outcome till maybe 2-3 years from now.

[westside]

Will someone tell me whats a timeshare??? please :eek3dance

[blackrsx]

Will someone tell me whats a timeshare??? please :eek3dance

google it; you have plenty of resources available. i'd start with wikipedia and follow the links there

this is to discuss timeshares and people's experiences with them, not to educate the lazy

[westside]

haha Thanks

[RACER X]

waste of $

[Vick_]

that's what i thought - which is why they have to resort to giving stuff away for you to buy them. shit i'm all about a new way to make money if its true though - would love to hear it.

you can buy an apt in Buenos Aires Argentina and rent it to tourists.

thats correct, however tits if your dad is paying monthly "renting" he is not benefiting from it. You will have to buy then rent it out to tourists. the only fees you will have to pay if you own a timeshare is the maintenance fees and once you go there you will only have to pay the assessments fees which normally is around $100-150.

[PIYF]

^^^^^Damn, I don't have that kind of money. (Couldn't you just invest that money you used to buy the place in bonds or something that's not so risky?)

[Kohinoor]

lmao time shares are horrible investments

[Vick_]

lmao time shares are horrible investments

sure if you don't vacation a lot, also if you don't know how to rent them out to people.

[Kohinoor]

is that what the salesman told you?

[RaCinStylez]

So you are tellin us that your montly dues, plus upkeep still costs less than if you were to rent out the same unit from a hotel or personal investor for a week? This is why timeshares are the worst investment ever. You get a week to a month of a vaction spot but your montly dues plus upkeep cost way more than if you were to just rent it.

Taken from a financial website:
Timeshares are often marketed as an investment, but they are one of the worst investments that you can make. An investment is supposed to increase in value, yet timeshares typically lose 50% to 80% of their value the minute you sign on the dotted line. While the sales person will try to convince you that a timeshare will save you money, in all likelihood it will cost you much more than you ever thought.

[Kohinoor]

im interested in seeing his ROI

[RaCinStylez]

im interested in seeing his ROI

I bet it must be in the red... He could be in the green, but it would depend on a simple math calculation.

Here's an example:
7 nights per year
$75 dollars per night
20 years
10% inflation per year
$30,071

So, anything less than $30,071 is considered a bargain if it gave you anything more, such as more time, better and more spacious accommodations, more peace of mind, and more on-site amenities.

This is taken from another financial website:

Can I sell my timeshare if I don't want it anymore?
Yes, in most cases you will be able to sell it. A word of caution here, however: Don't expect to make money selling your timeshare. Although many timeshares are, in fact, real estate, it should not be thought of as Donald Trump–type real estate. If you purchase a timeshare today for $13,000 (the average price in the United States), you probably can't turn around and sell it in five years for $20,000. In fact, 99 times out of 100, you can't and won't. So although you probably won't earn a profit from selling your timeshare, compare your possible ROI (return on investment) with any money you could make by selling your hotel and motel receipts after ten years — which is $0.

[bowfinger]

My girl got talked into getting one when she went to disney world in orlando. She had to sit in for 4 hours listening to some guy talking on how to save $$
by getting a timeshare, the only reason why she went to that seminar was to get discounted tickets for the theme parks. A week or two
later we got payment booklets for $49 a month which lasted untill
2011, when i saw that shit i was like hell no, you are cancelling that shit right away. Thankfully you have 10 days from the day you sign up to cxl w/out any penalty. Also when i was reading that crap,it said something about if you dont pay they will report you to collections and if need to they will get an attorney to collect all fees.

It was for Westgate resorts.

also they told her that she could make reservations all over the world where Westgate resorts where available, but when i looked online they only had a couple of cities in the US.

sorry for the long post.

[tit$]

thats correct, however tits if your dad is paying monthly "renting" he is not benefiting from it. You will have to buy then rent it out to tourists. the only fees you will have to pay if you own a timeshare is the maintenance fees and once you go there you will only have to pay the assessments fees which normally is around $100-150.

so show me what you do with numbers, because i don't see how you're making any kind of decent money on them unless they are super high dollar.

[RaCinStylez]

My girl got talked into getting one when she went to disney world in orlando. She had to sit in for 4 hours listening to some guy talking on how to save $$
by getting a timeshare, the only reason why she went to that seminar was to get discounted tickets for the theme parks. A week or two
later we got payment booklets for $49 a month which lasted untill
2011, when i saw that shit i was like hell no, you are cancelling that shit right away. Thankfully you have 10 days from the day you sign up to cxl w/out any penalty. Also when i was reading that crap,it said something about if you dont pay they will report you to collections and if need to they will get an attorney to collect all fees.

It was for Westgate resorts.

also they told her that she could make reservations all over the world where Westgate resorts where available, but when i looked online they only had a couple of cities in the US.

sorry for the long post.


LOL!!! I use to sell the vacation packages for these timeshares in high school... I use to make madd money too. They would give me anywhere from $100-$500 per person. Depending on if they bought a timeshare or not. Westgate resorts are really nice tho, and they have em everywhere! Las Vegas, Colorado, Virginia, South carolina...and im probably missing some. Since I use to work for them, we use to get a free weeks stay at the resort. Did yall stay at the one off of Turkey Lake? That one has some baller ass vaction condos right on the water!!