Flamingo 5K ownership

[djyamyam]

I'm considering adding more HGVC points to what I already own. I can get a 2BR gold season (5K) at the Flamingo for $3500 including all closing and usage starting next year. I like the Flamingo because there is no ROFR and think it has the best location on the strip when I could actually consider using it.

I know most of the broker listings have LV 5K listings at around $5k cost but that's high in my mind. Recent LV ebay sales have been in that $3300 range but we're in the higher priced summer season.

In my mind, this is a fair deal but I want a smoking deal and am patient enough to wait for it since I have more than enough other ones. Am I off in my thinking?

 

[mhoutsma]

I think that is a very good deal. I can't imagine getting one for under $3,000 with all the fees taken into account. I don't think you gain much by waiting.

 

[gnorth16]

Buy it....Or tell me where to get one and I will scoop it from you!

Seriously, you will not find a better deal.

 

[djyamyam]

Buy it....Or tell me where to get one and I will scoop it from you!

Seriously, you will not find a better deal.

Looking back at some older posts. I noticed you picked up a 5K point ownership for that $3150 range. Was that including closing costs?

 

[gnorth16]

Looking back at some older posts. I noticed you picked up a 5K point ownership for that $3150 range. Was that including closing costs?

No closing costs and transfer fee were extra. $499 and $399, so we are already over $4000.

Hilton resales (in May) said that Vegas Properties would not pass ROFR under $5000. When I bought the market was different. Hilton was not actively using ROFR.

BTW, very nice website!

 

[janckenn]

When I wanted to add more points to my HGVC account, i bought HGVC at Flamingo because no ROFR there.
Your price is a pretty good deal, so go for it!

 

[gnorth16]

When I wanted to add more points to my HGVC account, i bought HGVC at Flamingo because no ROFR there.
Your price is a pretty good deal, so go for it!

HGVC at Flamingo x7!

You are well on your way to fractional ownership!

 

[djyamyam]

I looked back at some snipe bids and selling prices from a couple years ago and was seeing sold prices for 5K points around that $1900 range + closing costs. 7K point ownerships were going for around $5K.

Prices have obviously increased over the past couple years. I recognize from a seasonality standpoint, we're also in the highest pricing time of the year (ie. summer)

However, I was able to get the price down a bit more from the original $3500 all in so I think I'll go for it

Thanks for the input.