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Old 03-19-2013, 12:18 AM   #21
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Is this the same as MLM?
Yes.
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Old 03-19-2013, 12:27 AM   #22
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I thought DW and I were the only ones on this forum lucky enough to own timeshares. She inherited 5 of the damned things.
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Old 03-19-2013, 12:34 AM   #23
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Is this a fishing expedition designed to scam. I'm beginning to become suspicious

Work from home scams
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Old 03-19-2013, 12:55 AM   #24
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I thought DW and I were the only ones on this forum lucky enough to own timeshares. She inherited 5 of the damned things.
What are the carrying charges with an average timeshare assuming you buy your week(s) with cash? Do you get hit with taxes,hoa fees, etc?
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Old 03-19-2013, 01:07 AM   #25
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What are the carrying charges with an average timeshare assuming you buy your week(s) with cash? Do you get hit with taxes,hoa fees, etc?
We got lucky and sold two of the five. Two more were almost sold in 2005 just before the Hurricane hit Daytona Beach. The potential buyer was actually staying in one of them and seemed ready to buy when he had to evacuate because of the Hurricane. The building had extensive damage and was out of commision for around 2 years while they repaired it. In answer to your question. Yes there are annual fees and taxes and in our case also a large hurricane repair assessment. We would have been smart to just let them go but it is not in our nature (perhaps we have a serious character flaw in that area) to have done that. IMO all states need to change their timeshare laws so that in cases where the building will not be usable for more than six months all the owners vote on whether to scrap the building and sell it or repair it. I am pretty sure the majority of owners of our units did not want to proceed with repairs and would have rather just sold the building at a loss. As was expected the elected board of directors were all so rah rah about the place that they could only see rebuiding as a good idea when in fact it was not. Do I sound bitter? GRRRR!!!


EDIT TO ADD. We have not stayed in them since DW's father was alive and owned them. I have heard they are nice since the rebuild but we are too busy to ever stay in them. DW's sister does use them for trading for stays at other locations. We also occasionally get a small check when they rent ours out to someone else.
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Old 03-19-2013, 01:57 AM   #26
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I retired early in 2000 .......I owned my own computer business for the 35 years prior ......
so you started your own computer business in 1965? You must have been one of the early pioneers. Did you own your own mainframe back then. Must have cost a bomb.
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Old 03-19-2013, 08:09 AM   #27
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Excellent advice Warren, and welcome to the forum.
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Old 03-19-2013, 08:47 AM   #28
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so you started your own computer business in 1965? You must have been one of the early pioneers. Did you own your own mainframe back then. Must have cost a bomb.
Actually the company started as a plastic molding company and as I started using computers myself, it ended up being a better focus with less competition and resulted in a change to a computer business.

The cost for a system was considerably higher than now. You could purchase a Zenith Computer with a 2Mhz Z-80 processor and a 10 Mb hard drive that took two men and a boy to carry for only $7,500 at that time.
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Old 03-19-2013, 12:03 PM   #29
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Welcome to the forum Warren. You will find us nicer once we get to know you. Just don't push it!

(Former TS owner and glad to be out of it for 5 years! Retired 11 years and loving it.)

(My secret is not to share my secret!)
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Old 03-19-2013, 12:46 PM   #30
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I have had fleeting thoughts of one day looking into buying a timeshare that someone is looking to make the maintenance fees end sell it to someone that will actually use it off of their hands, and know that they can go for big discounts. Who did you end up buying it from? (developer or which website on the secondary)? What kind of a discount did you get?
First, welcome to the original poster. Congrats!!!

Now, to answer the timeshare question. We own two. I didn't pay much for my first one, but I bought my second one on eBay for $1. Yes, many really are selling for $1. On some of the various chat boards for particular brands of timeshares, people give them away, just to get out from underneath the maintenance fees.

Look on eBay for what you want, and then look carefully at the seller's feedback. And, there is a very friendly timeshare chat board, just like this forum, at www.TUG2.net. There are some real pros over there who are more than willing to share their experiences and vast knowledge. Not to mention there's a place to buy & sell, or rent a timeshare.

Take your time and read and learn before you jump. We've been timesharing for over 20 years and have no regrets. The memories I hear our grown children discuss from our many vacations more than make up for any $$$ we spent. I've bought and sold several timeshares and am happy with what we have, for now. But tomorrow is another day.
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