Confused. Is DRI Points or Deeded Properties?

[rboesl]

Just went through a sales presentation for DRI at Diamond Desert Paradise in Las Vegas. The salesperson talked exclusively about their points program. But, when I look in the Marketplace I only see deeded DRI properties. So, what gives? Is this program new or is there no secondary market for DRI points?

 

[clifffaith]

There is no market for DRI points. We paid DRI $500 in July to take back two points contracts totaling approximately 25,000 points. They try as hard as they can to get folks who bought deeded properties years ago to switch to points, but there apparently is some resale value to deeds.

 

[artringwald]

If you find a resort you like so much that you want to go there every year, deeded properties are great. If you're willing to book a year out, go to a variety of places, and stay various numbers of days, points are great. DRI makes it easy to book with points, and give discounts for last minute deals. However, several reasons make DRI points are difficult to sell:

1) The maintenance fees for points are 25-50% higher than an equivalent deed.
2) Club membership is not transferable with resales. Resale points can only be used within their trust collection.
3) Reservations booked with points cannot be rented.

You can use exchange companies like RCI or Interval International to trade deeded properties for other resorts. Trading is not quite as flexible as DRI points, but deeds are almost always easier to sell. People have trouble giving away DRI points.

 

[TUGBrian]

note that "POINTS" in the marketpace has its own section...under the category titled "points" in both the for sale and for rent sections of the marketplace.

there are plenty of DRI points packages for sale just about everywhere, and unfortunately most have no resale value.

http://tug2.com/MarketplaceClassifiedResults.aspx?ResortName=diamond&ForSale=True&AdTypePoints=True&

 

[bradfordHI]

Again. Wrong. It is deeded real estate.

Most people on here have no idea what they are talking about.

I own 50,000 points in the Hawaii collection. It's deeded in a trust of properties. Or collection. It's like any other real estate.

Just went through a sales presentation for DRI at Diamond Desert Paradise in Las Vegas. The salesperson talked exclusively about their points program. But, when I look in the Marketplace I only see deeded DRI properties. So, what gives? Is this program new or is there no secondary market for DRI points?

 

[artringwald]

Again. Wrong. It is deeded real estate.

Most people on here have no idea what they are talking about.

I own 50,000 points in the Hawaii collection. It's deeded in a trust of properties. Or collection. It's like any other real estate.

Not exactly like any other real estate. Real estate is much easier to sell. Deeded timeshares are difficult to sell, and DRI points are difficult to give away.

 

[SmithOp]

Again. Wrong. It is deeded real estate.

Most people on here have no idea what they are talking about.

I own 50,000 points in the Hawaii collection. It's deeded in a trust of properties. Or collection. It's like any other real estate.

So you sign up for TUG 45 minutes ago and already know most of us have no idea what we are talking about?

DRI owns the trust and all the deeds in it, they sell points to use to book weeks that are in the trust. Legacy owners that bought deeded weeks are better off keeping their deeds. DRI is just selling again (points) what they already sold (deeds), nice racket.


Sent from my iPad using Tapatalk

 

[nuwermj]

So you sign up for TUG 45 minutes ago and already know most of us have no idea what we are talking about?

The poster sounds a lot like a company mole.

Section 5.(a) of DRI's contract states: "The Membership is a form of a 'right-to-use' timeshare interest, and Purchaser will not receive a deed to any interest in real property."

 

[bradfordHI]

No, I am just an owner who owns a lot. The internet is full of "fake news" and other misinformation.

I read my books inside and out. Inconsider myself sort of an "expert" because I own a lot and have for over 30 years.

I don't bash companies or promote them. I only share my experience. I just found this forum today and found some helpful info as well and A LOT of stuff that's totally wrong. Because....Resale and developer purchases are 2 different products. People lump them together and that's what used to confuse me. I learned the difference.

I own both resale and developer but for my family, I prefer buying from 2 developers because of their benefits. Marriott and Diamonds are the best ones for me.

I don't know your family but do what is best for your family. I don't know what else to say. Its Just my opinion.

The poster sounds a lot like a company mole.

Section 5.(a) of DRI's contract states: "The Membership is a form of a 'right-to-use' timeshare interest, and Purchaser will not receive a deed to any interest in real property."

 

[hvsteve1]

I think people tend to conflate "points" with "the trust", as noted by poster who owns in "The Hawaii Collection".

We own at Powhatan which we purchased some 25 years ago. Over the years, as Powhatan was downgraded on RCI, we found it increasingly difficult to trade. When Sunterra offered a points system, we converted our two-over-two lockout to 30,000 points. We have much more success trading and, using last-minute trades, have managed to squeeze three, or even four weeks out of our points. Despite having points, we still get reports from the HOA and vote for directors, which tells me there is still some sort of ownership as, otherwise, I would not have a certain number of votes for who sits on the board or what the budget will be.

As Diamond has done so much razzmatazz over the years to keep selling new concepts to current owners, I'm not surprised so many owners aren't sure exactly what program they have.

 

[nuwermj]

Despite having points, we still get reports from the HOA and vote for directors, which tells me there is still some sort of ownership as, otherwise, I would not have a certain number of votes for who sits on the board or what the budget will be.

There are two types of ownership, deeded or trust (that is, beneficial interest). Each ownership type can have a membership in The Club (which is an exchange company) or not have such a membership. There are thus four general groups with whom Diamond has a relationship. hvsteve1, you are in the second group below.

Traditional Deeded
A traditional owner with a deeded week at a resort that adheres to the booking rules outlined by their contract such as specific week, season (yellow, red), usage type (float, fixed), or unit type.

Assigned Deeded
A deeded week assigned to THE Club (or to a Club Connection). The owner still owns the deed to the property, however, they have assigned their usage rights to the club in exchange for an allotment of points to use in a DRI club.

DRI Regional Trust Membership
An owner who owns points in a DRI Collection. Their usage is limited to resort properties owned by that Collection. Regional points may not be used for benefits and services provided by THE Club or Club Connections.

DRI Club Trust Membership
An owner who owns points in a DRI Collection. Their usage rights are assigned to THE Club (or a Club Connection). These owners use their points to access resorts in their Home Collection and other resorts within their club.

 

[artringwald]

Just to add to what nuwermj said, it is possible to cancel Club membership, although you have to pay dearly to get back in the Club later on. If you have an Assigned Deeded week, it would revert to a Traditional Deeded week. If you have DRI Club Trust Membership, it would revert to DRI Regional Trust Membership. This is also what happens if you sell your ownership because Club membership is not transferable, unless it's transferred to a family member.

 

[bradfordHI]

A registered sex offender was snorkeling in the pool on July 4th. It's was a freakin disaster. At a property I owned in California. He mother was the original owner and club member. She passed it to him.

they ended up giving that person their money back and having him leave the club.
They immediately revoked his club membership. But couldn't do anything with his deeded week. He owned it legally. This doesn't happen all the time. But I am all for Clubs because Of this.

I was on the board at the time and legally he was out of jail, so the only option we had was to revoke his club membership, we offered to give him his money back and after a lot of negotiations he finally agreed to it.

So clubs are important to me.

That probably doesn't happen often. But it's why I do believe in clubs. I don't want my children around people like that while on vacation. Snorkeling In a pool, it was disgusting. I'm glad we had some way to remedy it.

To be honest, At first I felt bad for the guy because I wanted to give him a chance and I thought he was a "changed" person; but once he snorkeled that day, I was like.... get this guy outta here. And some cuss words.

I had to call the police and break up a fight the day.

it completely changed my opinion on private clubs. I am all for them as a father. Things change when it affects you personally.

With that said. That doesn't happen often but do what you want. I like being a member of a club.

Hope that helps, on why private clubs exist. It's to keep us safe on vacation with our children. Plus some benefits that I like.

I buy resale sometimes but always join the club. That's just me.

Just to add to what nuwermj said, it is possible to cancel Club membership, although you have to pay dearly to get back in the Club later on. If you have an Assigned Deeded week, it would revert to a Traditional Deeded week. If you have DRI Club Trust Membership, it would revert to DRI Regional Trust Membership. This is also what happens if you sell your ownership because Club membership is not transferable, unless it's transferred to a family member.

 

[bradfordHI]

I am a company mole. Haha.
I came to this site to learn a few things which I have, and to help out others who have no idea what they own and to be a good timeshare owner.
my family has been owners for a long time & I work in commercial real estate.

I think this is another site run by a resale company and it's all about that. Misinformation.
This other website Red week is a scam. It's owned by a resale company in Florida.

I thought this was legitimate real forum website but I think the internet is becoming a place for people complaining, yet won't use their real name. Who are wrong a lot of the time.

FYI I did help 2 users out with questions and I'm not going to argue with some of you random people who are flat out wrong. You are wrong!!!!

Club memberships are transferable. It needs to be approved by the club for the reason I mentioned below. Also owner ships in Trusts are transferable.

Please mention your occupation when responding because Their are so many ways to transfer it.

But yes They are private clubs. Which is awesome. I don't want my kids around creepy people on vacation.

A registered sex offender was snorkeling in the pool on July 4th. It's was a freakin disaster. At a property I owned in California. He mother was the original owner and club member. She passed it to him.

they ended up giving that person their money back and having him leave the club.
They immediately revoked his club membership. But couldn't do anything with his deeded week. He owned it legally. This doesn't happen all the time. But I am all for Clubs because Of this.

I was on the board at the time and legally he was out of jail, so the only option we had was to revoke his club membership, we offered to give him his money back and after a lot of negotiations he finally agreed to it.

So clubs are important to me.

That probably doesn't happen often. But it's why I do believe in clubs. I don't want my children around people like that while on vacation. Snorkeling In a pool, it was disgusting. I'm glad we had some way to remedy it.

To be honest, At first I felt bad for the guy because I wanted to give him a chance and I thought he was a "changed" person; but once he snorkeled that day, I was like.... get this guy outta here. And some cuss words.

I had to call the police and break up a fight the day.

it completely changed my opinion on private clubs. I am all for them as a father. Things change when it affects you personally.

With that said. That doesn't happen often but do what you want. I like being a member of a club.

Hope that helps, on why private clubs exist. It's to keep us safe on vacation with our children. Plus some benefits that I like.

I buy resale sometimes but always join the club. That's just me.

No, I am just an owner who owns a lot. The internet is full of "fake news" and other misinformation.

I read my books inside and out. Inconsider myself sort of an "expert" because I own a lot and have for over 30 years.

I don't bash companies or promote them. I only share my experience. I just found this forum today and found some helpful info as well and A LOT of stuff that's totally wrong. Because....Resale and developer purchases are 2 different products. People lump them together and that's what used to confuse me. I learned the difference.

I own both resale and developer but for my family, I prefer buying from 2 developers because of their benefits. Marriott and Diamonds are the best ones for me.

I don't know your family but do what is best for your family. I don't know what else to say. Its Just my opinion.

A registered sex offender was snorkeling in the pool on July 4th. It's was a freakin disaster. At a property I owned in California. He mother was the original owner and club member. She passed it to him.

they ended up giving that person their money back and having him leave the club.
They immediately revoked his club membership. But couldn't do anything with his deeded week. He owned it legally. This doesn't happen all the time. But I am all for Clubs because Of this.

I was on the board at the time and legally he was out of jail, so the only option we had was to revoke his club membership, we offered to give him his money back and after a lot of negotiations he finally agreed to it.

So clubs are important to me.

That probably doesn't happen often. But it's why I do believe in clubs. I don't want my children around people like that while on vacation. Snorkeling In a pool, it was disgusting. I'm glad we had some way to remedy it.

To be honest, At first I felt bad for the guy because I wanted to give him a chance and I thought he was a "changed" person; but once he snorkeled that day, I was like.... get this guy outta here. And some cuss words.

I had to call the police and break up a fight the day.

it completely changed my opinion on private clubs. I am all for them as a father. Things change when it affects you personally.

With that said. That doesn't happen often but do what you want. I like being a member of a club.

Hope that helps, on why private clubs exist. It's to keep us safe on vacation with our children. Plus some benefits that I like.

I buy resale sometimes but always join the club. That's just me.