Why did you buy, and is it worth it?

[MOXJO7282]

I think we have an interesting story that all started with a mistake purchase that many of us made and a tremendous tragedy, 9/11, that I'm convinced ultimately got us a trade that has turned into the best possible outcome even I didn't think was possible.

Our timeshare journey started in 2000 when we purchased directly from Marriott a Grande Vista 2BDRM gold week for $14,900. This was truly a mistake because our goal was to vacation in Maui during prime season and we fell for the sales tactic "why buy Maui when you can buy Orlando and trade into Maui".

In 2000 we put in our requests for Maui and never got the trade before we accepted a Manor Club trade. Again in 2001 we put in the trade as early as possible and again nothing matched. I was starting to consider an exit strategy because I was very disappointed the trades weren't happening. Then the horrible events of 9/11 happened. I'm not sure if it was the very next day but it was within a few days our trade for Maui came through.

So now this terrorist attack happens and we have to decide within days if we wanted to get on a plane and fly 12 hours to Maui in a few months. We decided to go and the rest is history. I hate to think something so good for us happened because of such a tragic event but in hindsight I'm convinced this is true. I couldn't wait until the 60 day window where it might have happened so I was just about to accept another trade. Even after the trade came through we were very reluctant but decided to take the trade.

The plane was probably 10% full if that and the resort seemed the same. That first trip to the Maui Ocean Club sealed our fate and we just knew we wanted to come back over and over again. As soon as we got home we set in motion a trade up for a Maui Ocean Club 2BDRM OV unit.

Fast forward to 2017 and we now own 23 Marriott units that we use but mostly rent. We're by no means wealthy and acquired all but 4 in the resale market at very good pricing funded 80% by playing the 0% balance transfer fee game to perfection over the years to use the bank's money to fund our portfolio.

The rental business isn't for everyone but prime Marriotts really do rent very easily so it's been incredibly low effort quite honestly. Even with the taxes we pay on the profit it still put my daughter through college and should do the same for my son in a few years. The profit was never really the plan and definitely not the goal, it really is just the result of what I figured out over the years about how to rent Marriott units.

The goal was all the great trips to Maui we took as a family over the years, 7 and counting, and so many others to HHI and many of the other great Marriott resorts. And the ultimate goal, which is still at least 7 years away by my calculations, is to live out our dream of being able to spend a few months at one of our Marriott TSs in Maui or HHI and allow friends and family to come and go. This was and always has been the dream and if we can accomplish this it will truly be a a dream come true for my wife and I.

 

[Dave Landry]

Yes, totally worth it! And, I bought from the developer...without regret. You can't buy my TS resale as far as I know. The MF's are very affordable and it's a well-run property. They are always adding amenities, including most recently, a really good Italian restaurant!
I bought in 2000 and there was no pressure. The salesman explained the offer. I told him Id sleep on it. My kids really liked the idea. Maybe because I am a single mom, the salesman wasn't even sure if I was qualified to buy. My sister worked at RCI when it was a new company, so I had stayed at many many TS's. My parents have a few weeks and it was their's which I was using. So, I was a fairly well informed purchaser. I knew how the program works.
I traded into Sedona which is a place I had wanted to visit for many years. I still enjoy it - more than ever! As an owner, I've never had to use it a week at a time and that's worked to my advantage. I live closer now and can buy bonus time. Only staying at the hostel would be cheaper.
My initial investment? That was very affordable! Maybe because they were just building the place, they offered me many, many perks. I was given all sorts of extra weeks through RCI which I used. So, with all the extra vacations, my payback was less than 5 years?
I do enjoy TUG and these forums. The bottom line is, knowledge is power. Good luck to you and I hope you find what you are looking for!

Would you mind sharing where you own and what the perks are please? Thanks very much

 

[JohnPaul]

Would you mind sharing where you own and what the perks are please? Thanks very much

Sounds suspiciously like Sedona Pines. If so, I also own there, bought one week from the developer and one week on the open market (in the form of two every other year weeks). Just stayed there in June for the first time since we bought 13 years ago and was still favorably impressed. (We typically use our RCI points to ski in Colorado.)

 

[WalnutBaron]

Our first timeshare purchase was Westin Princeville, bought through the developer. While we absolutely LOVED the property and our visits there, there were two things we didn't love: 1) the confiscatory and rapidly rising annual MF's, which were closing in on $3,000 per year at the time we sold it; and 2) the fact that the developer sales agent never told us (of course) that we would have been much better off buying Westin Kaanapali since WKORV is a mandatory resort and WPORV is not. This had a huge effect on our resale value. When we sold the unit, we took a huge bath, but at least we had gotten out from under the MF's.

Once we'd learned our tough lesson, we ended up buying into two competing systems, both of which we really like: Hyatt and Hilton. Here's our take on the strengths of each:

Hyatt: really first-class resorts throughout the system, beautifully-maintained, and with excellent value. MF's are reasonable, especially in light of what you get for those fees. Downsides: it's a relatively small system with only 16 resorts, and the website is ancient and clunky. Customer service reps are helpful and friendly. Trades within II, which is our favorite exchange company.

Hilton: excellent website, allowing you to "see" availability, even if your original dates are not available. If you have flexibility in when you can travel, this is a great system! Resort quality is generally high, but not as consistent as Hyatt. MF's are competitive and generally reasonable. Trades within RCI, which is a drawback for us.