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Old 09-08-2016, 08:19 PM   #41
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Hi, this is my first post so please be gentle. I think one answer to that question could be. Are you willing to invest the time to learn how to use your timeshare to it's best value? In 2006 I made the mistake of not doing my homework and purchased from the developer. I later saw the same timeshare available for pennies on the dollar on Ebay. Water under the bridge, I have learned to use it well and have had many wonderful vacations with it. In 2007 I joined the Timeshare Users Group, a forum of amazing timeshare owners who share their knowledge with other owners. I did my homework for the next 8 years and In Feb 2014 I purchased my second timeshare resale for $285. With that wonderful little timeshare, during the last 2.5 years my friends, family and I have taken 32 weeks of vacation at some very nice places at an average of <$85/night. Many of those vacations would not have happened without my timeshare. So my answer would be, if if you are willing to do your homework, timeshares are wonderful. It was on the TUG forum that I learned about this ER forum. I have been lurking for a number of months hoping to learn and maybe make more educated financial decisions as life goes on. I actually just joined today and probably wouldn't have posted for months if this question hadn't come up. I am here to learn and will have many questions as time goes on.
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Old 09-08-2016, 08:53 PM   #42
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Originally Posted by 48Fire View Post
The maintenance fees are constantly going up, and there is no controls at all.
On one of the forums on the TUG website referenced above there is a thread about the Maui city council really sticking it to timeshare owners, in this case it is at the Westin (WKORV) resort on Maui. Earlier this year the Maui city council decided to go back to 2008 and add a special tax assessment for that resort that all current owners have to pay. Sounds like it was all started by a separate legal issue the resort brought against the city so the city council did the tax assessment in retribution. The really strange part is that even if you weren't an owner 2008, say you bought it in 2015, you still have to pay the special 2008 tax assessment, it averages about $500 per owner.
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Old 09-08-2016, 09:01 PM   #43
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I am not joking. Somewhere there were discussions about travelling around the world slowly and maintaining a house in the U.S. I was thinking that it may be possible to have a timeshare in a state of the U.S. and claim the residency there and come back once in a year.
According to wikihow:

If you are already living in Florida, you'll need to fulfill the basic residency requirements by getting a Florida drivers license, registering your out-of-state car, and registering to vote. If you have live in two different states, you'll need to file a Declaration of Domicile to prove that Florida is your primary place of residence. In order to get the declaration approved, you will need to prove your physical presence in Florida as well as your "intent" to stay. Proof of intent might include a job, a spouse, community involvement, and being registered to vote. Know that it will be much easier to establish residency if you are currently employed in Florida!
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Old 09-08-2016, 09:20 PM   #44
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I own a Disney Vacation club timeshare. I love it. getting ready for a quick trip down for the food and wine festival.
I broke even years ago and my annual fees are less than 1100 a year. which is a lot cheaper than the cost to rent.

Don't know about any other
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Old 09-09-2016, 10:10 AM   #45
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Hi, this is my first post so please be gentle. I think one answer to that question could be. Are you willing to invest the time to learn how to use your timeshare to it's best value? In 2006 I made the mistake of not doing my homework and purchased from the developer. I later saw the same timeshare available for pennies on the dollar on Ebay. Water under the bridge, I have learned to use it well and have had many wonderful vacations with it. In 2007 I joined the Timeshare Users Group, a forum of amazing timeshare owners who share their knowledge with other owners. I did my homework for the next 8 years and In Feb 2014 I purchased my second timeshare resale for $285. With that wonderful little timeshare, during the last 2.5 years my friends, family and I have taken 32 weeks of vacation at some very nice places at an average of <$85/night. Many of those vacations would not have happened without my timeshare. So my answer would be, if if you are willing to do your homework, timeshares are wonderful. It was on the TUG forum that I learned about this ER forum. I have been lurking for a number of months hoping to learn and maybe make more educated financial decisions as life goes on. I actually just joined today and probably wouldn't have posted for months if this question hadn't come up. I am here to learn and will have many questions as time goes on.
Welcome.
When I had my timeshare I used TUG as well, found it fantastic.
Even got a free rental from there one time, which was fun to do.
The advice on the site was worth so much.
I also rented from there once and it was terrific.
Glad to hear you are getting some value out of your timeshares.

We still have one timeshare, as it's complicated family ownership, so we make sure to use it each year.
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Old 09-09-2016, 10:45 AM   #46
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I am a big fan of renting other people's timeshares. Much less expensive and you're not locked into one location (or exchange fees).

We've done it in Cabo, in Kauaii, and in southern Spain.

I'm also a big fan of just renting apartments (not necessarily timeshares) when on vacation.
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Old 09-09-2016, 11:20 AM   #47
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About 15 years ago, we were "given a free week" by friends with a TS on Daytona Beach. Sales people immediately pestered us to buy. We attended a seminar (to get the free dinner at an upscale restaurant, near by). Our arms were twisted to buy a week of TS for $12,500. We refused, saying both of our kids were in college and we did not have the extra cash. The salesman gave up, but then brought over the mgr. He promptly dropped the price to $8,500. We said no, left, and enjoyed the dinner. It was hard work for a free meal, though......
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Old 09-10-2016, 02:21 AM   #48
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Thanks brownhaired_girl, interesting info. Not sure I'm willing to put in the effort so maybe we will just keep renting, at least until we RE. Afterwards it might be fun to do some detailed research.


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Old 09-10-2016, 07:57 AM   #49
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Originally Posted by brownhaired_girl View Post
Hi, this is my first post so please be gentle. I think one answer to that question could be. Are you willing to invest the time to learn how to use your timeshare to it's best value? In 2006 I made the mistake of not doing my homework and purchased from the developer. I later saw the same timeshare available for pennies on the dollar on Ebay. Water under the bridge, I have learned to use it well and have had many wonderful vacations with it. In 2007 I joined the Timeshare Users Group, a forum of amazing timeshare owners who share their knowledge with other owners. I did my homework for the next 8 years and In Feb 2014 I purchased my second timeshare resale for $285. With that wonderful little timeshare, during the last 2.5 years my friends, family and I have taken 32 weeks of vacation at some very nice places at an average of <$85/night. Many of those vacations would not have happened without my timeshare. So my answer would be, if if you are willing to do your homework, timeshares are wonderful. It was on the TUG forum that I learned about this ER forum. I have been lurking for a number of months hoping to learn and maybe make more educated financial decisions as life goes on. I actually just joined today and probably wouldn't have posted for months if this question hadn't come up. I am here to learn and will have many questions as time goes on.
Welcome, those are some impressive numbers and could be the reason that some here would try out the timeshare market. Since you seem to be keeping track I have a couple of questions I wonder if you could answer them.

Are all of these trips considered off-season trips, ie not Florida in Jan? How much notice do you normally have to travel and use the units. Does the 85 a night really include all taxes and fees and the add ons that come along with timeshares on check-out day, like cleaning fees and utilities upcharge.

And last do you happen to live in an area with a huge supply of timeshares. This can make a big difference in the utilization factor of bonus or extra weeks.
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Timeshares - good or bad idea?
Old 09-10-2016, 04:59 PM   #50
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Timeshares - good or bad idea?

For me, time shares have no appeal. However, one time when we cruising out of Florida we signed up for a time share presentation deal....free hotel and free week parking and transportation to the cruise terminal. The sales pitch presentation wasn't too bad. It took an hour or so. I asked the sales guy what percent actually bought the time share and the percent he quoted (if true) was higher than I expected.
I'll admit that I was a little nervous signing up for this deal. However, I figured we were in the USA, spoke the language, and most importantly we had our car and could easily go somewhere else and find a hotel and parking.

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Old 09-10-2016, 10:05 PM   #51
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[QUOTE=ivinsfan;1778956]Welcome, those are some impressive numbers and could be the reason that some here would try out the timeshare market. Since you seem to be keeping track I have a couple of questions I wonder if you could answer them.

Are all of these trips considered off-season trips, ie not Florida in Jan? How much notice do you normally have to travel and use the units. Does the 85 a night really include all taxes and fees and the add ons that come along with timeshares on check-out day, like cleaning fees and utilities upcharge.

And last do you happen to live in an area with a huge supply of timeshares. This can make a big difference in the utilization factor of bonus or extra weeks.[/QUOTE

I have a Down Syndrome daughter and quite a number of these weeks were in Orlando. We do travel off season mostly because I avoid the most crowded times there. We got annual passes and will be doing our 4th trip this year in a couple weeks. I work 12 hr shifts and using a holiday and couple vacation days I am able to string together 2 week trips. It does take some planning ahead. I actually live in northern MN so not a lot of timeshares around here. I would say the majority of our trips have been to FL. We have used the WI timeshare about 2-4 wks/ summer so that is about 7 hr drive. I probably can't get into a 2 bedroom Mariott during the best peak season in HI but was able to get a studio at the Mariott on Oahu in Feb (whale season). Not sure if I'll be going, if a friend will use this week or if I will end up tossing it back for something else. I will be taking my mother and friend to Costa Rica in Jan. The $85/night is an average of total costs for maintenance fees, cleaning fees and exchange fees. 3 of these weeks have been onsite at Disney. Certainly there is no guarantee that these prices won't go up. No doubt they will but for now I am making wonderful memories with my mother, daughter, and granddaughter ( husband is a dairy farmer and just will not tell those cows about vacations!)
To answer about FL in winter, absolutely!!!
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Old 09-10-2016, 10:17 PM   #52
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We've bought 52 week timeshares & rent them out on 12 months leases. Making plenty. Great deal. We do have to do maintenance.
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Old 09-11-2016, 10:10 AM   #53
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We've bought 52 week timeshares & rent them out on 12 months leases. Making plenty. Great deal. We do have to do maintenance.
How is this different from buying a house/condo unit and renting out ?
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Old 09-11-2016, 10:46 AM   #54
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We've bought 52 week timeshares & rent them out on 12 months leases. Making plenty. Great deal. We do have to do maintenance.
That's a big maintenance fee though, no!?
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Old 09-11-2016, 11:22 AM   #55
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Originally Posted by ivinsfan View Post
Welcome, those are some impressive numbers and could be the reason that some here would try out the timeshare market. Since you seem to be keeping track I have a couple of questions I wonder if you could answer them.

Are all of these trips considered off-season trips, ie not Florida in Jan? How much notice do you normally have to travel and use the units. Does the 85 a night really include all taxes and fees and the add ons that come along with timeshares on check-out day, like cleaning fees and utilities upcharge.

And last do you happen to live in an area with a huge supply of timeshares. This can make a big difference in the utilization factor of bonus or extra weeks.
I have a Down Syndrome daughter and quite a number of these weeks were in Orlando. We do travel off season mostly because I avoid the most crowded times there. We got annual passes and will be doing our 4th trip this year in a couple weeks. I work 12 hr shifts and using a holiday and couple vacation days I am able to string together 2 week trips. It does take some planning ahead. I actually live in northern MN so not a lot of timeshares around here. I would say the majority of our trips have been to FL. We have used the WI timeshare about 2-4 wks/ summer so that is about 7 hr drive. I probably can't get into a 2 bedroom Mariott during the best peak season in HI but was able to get a studio at the Mariott on Oahu in Feb (whale season). Not sure if I'll be going, if a friend will use this week or if I will end up tossing it back for something else. I will be taking my mother and friend to Costa Rica in Jan. The $85/night is an average of total costs for maintenance fees, cleaning fees and exchange fees. 3 of these weeks have been onsite at Disney. Certainly there is no guarantee that these prices won't go up. No doubt they will but for now I am making wonderful memories with my mother, daughter, and granddaughter ( husband is a dairy farmer and just will not tell those cows about vacations!)
To answer about FL in winter, absolutely!!!
You should hire out as a time share booking consultant! It sounds like you use yours well and really enjoy them.
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Old 09-11-2016, 12:13 PM   #56
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I do love my timeshares and use them for some wonderful family vacations that, many of which, we wouldn't have taken without the timeshares . But, some of the things I have learned is that maintenance fees will go up every year and the timeshare companies can and do change the rules. The only thing you are guaranteed they can not change or take away is what is contained in your deed. As far as a booking consultant, don't think so. To hard to keep others happy Everything I have learned is available on TUG. I can only hope to learn as much by studying here. Still learning my way around the site.
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Old 09-11-2016, 01:04 PM   #57
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Also a timeshare as well as TUG fan here. We own Marriott and have learned to play the game very well basically covering our yearly maintenance costs. They are not for everyone. You need to be able to plan and travel well in advance or last minute and keep in mind they are mostly located in resort rather than urban areas.

We use one as a trader by locking off and for the approx. $700 yearly maint. fee for each, upgrade each to a 2 bedroom at a beachfront 5* resort every year. Marriott rents these out at $4K per week during our season, although we could rent them from other owners for about $2.5K. Not too shabby.

In hindsight, we have made some unfortunate purchase decisions, but fortunately, can afford them. DH just retired last month and depending on our vacationing plans now that he's retired, we may dump a couple. When we purchased, we thought we would timeshare more in retiement, however, in reality it looks like the additional travel will be to more urban, non-timeshare areas. We'll have to see how it plays.
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Old 09-11-2016, 01:15 PM   #58
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[QUOTE=brownhaired_girl;1779259]
Quote:
Originally Posted by ivinsfan View Post
Welcome, those are some impressive numbers and could be the reason that some here would try out the timeshare market. Since you seem to be keeping track I have a couple of questions I wonder if you could answer them.

Are all of these trips considered off-season trips, ie not Florida in Jan? How much notice do you normally have to travel and use the units. Does the 85 a night really include all taxes and fees and the add ons that come along with timeshares on check-out day, like cleaning fees and utilities upcharge.

And last do you happen to live in an area with a huge supply of timeshares. This can make a big difference in the utilization factor of bonus or extra weeks.[/QUOTE

I have a Down Syndrome daughter and quite a number of these weeks were in Orlando. We do travel off season mostly because I avoid the most crowded times there. We got annual passes and will be doing our 4th trip this year in a couple weeks. I work 12 hr shifts and using a holiday and couple vacation days I am able to string together 2 week trips. It does take some planning ahead. I actually live in northern MN so not a lot of timeshares around here. I would say the majority of our trips have been to FL. We have used the WI timeshare about 2-4 wks/ summer so that is about 7 hr drive. I probably can't get into a 2 bedroom Mariott during the best peak season in HI but was able to get a studio at the Mariott on Oahu in Feb (whale season). Not sure if I'll be going, if a friend will use this week or if I will end up tossing it back for something else. I will be taking my mother and friend to Costa Rica in Jan. The $85/night is an average of total costs for maintenance fees, cleaning fees and exchange fees. 3 of these weeks have been onsite at Disney. Certainly there is no guarantee that these prices won't go up. No doubt they will but for now I am making wonderful memories with my mother, daughter, and granddaughter ( husband is a dairy farmer and just will not tell those cows about vacations!)
To answer about FL in winter, absolutely!!!
Well thanks for that information and it confirms a lot of my thinking on this subject. As ex-dairy farmers in central MN our main goal it to be away from home from the Jan-late Feb time frame. Still crop farm so have to work around that in when we go. I think you got a great deal that suits you,now next winter I'm pricing a brand 4 bedroom home in a HOA with heated outdoor pools and walking trails in Southern Utah .I'm going to be able to get in at around 100 net a nite.

We have a few different friends that will be joining us at different times and wewill split the cost on those nights which would be 50 bucks a couple.
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Old 09-11-2016, 01:35 PM   #59
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[QUOTE=ivinsfan;1779432]
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Well thanks for that information and it confirms a lot of my thinking on this subject. As ex-dairy farmers in central MN our main goal it to be away from home from the Jan-late Feb time frame. Still crop farm so have to work around that in when we go. I think you got a great deal that suits you,now next winter I'm pricing a brand 4 bedroom home in a HOA with heated outdoor pools and walking trails in Southern Utah .I'm going to be able to get in at around 100 net a nite.

We have a few different friends that will be joining us at different times and wewill split the cost on those nights which would be 50 bucks a couple.
Sounds like a nice place to spend some winter months.
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Old 09-11-2016, 02:03 PM   #60
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How is this different from buying a house/condo unit and renting out ?
It's not.
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