# Timeshare Rookie [merged]



## jboynton1974 (Apr 15, 2012)

I am researching the benefits of time shares and it seems it could be a really good program. My mother in law wants to sell her time share in Myrtle Beach, Plantation Resort, for $5500.  It is a deeded week for a 2br/2bth but she always exchanges for RCI points which equates to 67,000 points every other year. It is a gold crown resort...not sure if that matters. Is $5500 too much. It seems I can find much better deals on TUG.  I live in Aiken,  SC so I would like for my home destination to be within a few hours 4-5 away. That would included any SC beaches / NC/ SMOKIES/ TN etc etc. I am ready to take the plunge but wanted TUG members to guide me on which resorts, plans, points and so forth to get started.  I really like the points system because it allows versatility.  We will probably on take one family vacation a year and a few mini trips for the wife and i. Your input would be greatly appreciated!!


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## DaveNV (Apr 15, 2012)

Welcome to TUG.  You're in the right place.  Have a seat, read everything you can find, ask questions, and fully educate yourself into the process.  The better educated you are up front, the better choices you can make going forward.

Two cardinal rules you must develop to be successful with timesharing:

1.  Develop extreme patience, because the "great deal" you may find today will most likely be repeated time and again.  There is no such thing as a "one time offer."

2.  Know that it is much easier to get INTO a timeshare than it is to get OUT of one.  So don't buy ANYTHING from ANYONE at ANY PRICE until/unless you are 100% certain it is the right deal for you.

Your MIL selling her t/s to you for $5500 sounds like more than it's worth.  Check the auction on Ebay for the "real" market value of the resort.  You can search on Completed Auctions to get data on what things have recently sold for.

If you only plan to vacation irregularly, you may want to consider renting instead of buying.  You could get what you want, when you want, without the commitment of ongoing fees and costs associated with owning.  See Rule 2 above.  

Others will most likely weigh in on this, so relax, and enjoy the process.  There is a wealth of knowledge here, and lots of people very willing to help you learn.

Dave


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## jboynton1974 (Apr 15, 2012)

Thanks so much!!


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## DaveNV (Apr 15, 2012)

You may also want to check the SC inventory at this reseller website:  http://www.sumdayvacations.com/index.php

They have a LOT of Myrtle Beach stuff for just a few hundred dollars.  Not sure if these are comparable to your MIL's t/s, but this shows the kind of numbers you may be looking at.  That reseller also usually includes all closing costs into the price you pay, which can be a real savings.  So if you want to get in, this may be a reasonable way to get there.  They're a reliable company to deal with, if you find something you like.  (But before you buy, be sure to  refer back to Rule 2 of my previous post.  LOL!)

Dave


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## Beefnot (Apr 15, 2012)

You'd likely be paying $5,000 too much if you bought it from your MIL.


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## jboynton1974 (Apr 18, 2012)

*This is what I NEED!!*

I am very excited about this timeshare stuff!! I really enjoy and appreciate tuggers advice.  I am looking for resorts that have a fairly low maintenance fee and have a fair amount of RCI points.  We have been looking at Vacation Village at Parkway for 92500 points and I was told that Granview in Las Vegas had fairly low MF.  Curious about fellow tuggers advice on resorts.  It does not have to be a home resort because we will be more than likely be using RCI points.  ALL advice welcome!!


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## jboynton1974 (Apr 18, 2012)

*List the top resorts with LOW MF and RCI Points!*

Would love to hear about top resorts with the lowest MF's and best RCI points.  We are really excited about timesharing so if you know of any really good deals please forward to me.  PLEASE LIST THE RESORTS BELOW! We have been looking at Vacation Village at Parkway and Grandview Las Vegas for low MF and RCI points.  It does not have to be a home resort because we are more likely going to use RCI points near our home state/SC.


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## pkyorkbeach (Apr 18, 2012)

If you show your MIL the low values of timeshares now, perhaps she will sell it to you for a lesser amount.  It sounds like a nice TS to use.  Many people think their TS's are worth a lot of money.  If you could get it for a lesser amount MIL no longer has to worry about paying MF's and you get a nice TS for vacations.


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## theo (Apr 18, 2012)

pkyorkbeach said:


> If you show your MIL the low values of timeshares now, perhaps she will sell it to you for a lesser amount.  It sounds like a nice TS to use.  Many people think their TS's are worth a lot of money.  If you could get it for a lesser amount MIL no longer has to worry about paying MF's and you get a nice TS for vacations.



Wise words and true. Many people who do not routinely follow or "track" the timeshare world tend to assume a "valuation" based upon what they paid originally. Unfortunately, that is a completely meaningless frame of reference for current market value (...particularly if the original purchase was developer-direct).


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## Passepartout (Apr 18, 2012)

I actually DO own one something along this line. A 2BR in  Sedona AZ that we COULD use if there weren't better uses for it's RCI Points. So far, we have only seen the place once, and rented there at that time. We had used the points that year to go to Spain.

I can't say that I find much fault in jboynton's thinking. Those are pretty good point allowances for the MF. Whether or not they are the world's best is hard to say. These things are subject to change.

*One caveat I'd like to point out*. Whenever one uses those points to book a vacation, it costs $189. AND there is a roughly $90/year to maintain an RCI Points membership that seldom-if ever- is available as a 2-fer-1 deal. So, if you book 2 vacations a year using RCI Points, the out-of pocket cost is almost $500 on top of MF. 3 vaca's makes it near $700 and 92,000 points/yr. makes that many likely.

Jim


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## jboynton1974 (Apr 18, 2012)

The bottom line is that I will be vacationing probably one 7 day vacation a year with the family then possibly a couple shorter vacations throughout the year.  I will likely vacay in the south somewhere and it seems to me that 92500 points is alot of points for my vacay style.


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## ampaholic (Apr 18, 2012)

jboynton1974 said:


> The bottom line is that I will be vacationing probably one 7 day vacation a year with the family then possibly a couple shorter vacations throughout the year.  I will likely vacay in the south somewhere and it seems to me that 92500 points is alot of points for my vacay style.



I think you are right.

I have seen most "prime" vacations go for 60,000 to 70,000 RCI Points *tops*.
The real issue you will have is *availability* - you simply don't find very many "prime" weeks in RCI Points. :annoyed:


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## fishingguy (Apr 18, 2012)

The biggest point conversions [122K points] at Grandview (GV) are a good bargain from a MF standpoint.  Unfortunately, the word leaked out over the past few years, and that drove the prices up.  We got our 2 for closing costs ~$200 each, but now they go for anywhere from $2K-4K to get them.  The smaller points ownerships are still a decent bargain, given their low MF....

Vacation Village (VV) 92K point units have a MF/taxes of ~$750, which still puts you at less than a penny a point. (Most consider anything below a penny a point a good price point.) You can still find them periodically for $200 or less, the last time I looked.  

...just don't pay excessive prices to purchase them.

Both resorts have had relatively low MF for quite a while, but speculation is that if the developer ever gets done building/modernizing at VV, the MF will go up.  They've said that for many-many years now, but you be the judge.


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## DeniseM (Apr 18, 2012)

A gentle suggestion - if you have more questions and comments on this topic, please post them in this thread, instead of starting new ones - thanks!


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## jboynton1974 (Apr 22, 2012)

*I am getting more and more confused!!*

I know you guys probably think I am a wack job when it comes this whole timesharing stuff.  I spend way to much time on this TUG site but I am enjoying the wealth of knowledge that I "THINK" I am learning.  It seems that the more I read.....The more I get confused!! There is so much terminology and so many ins and outs of timsharing that my brain is sqwash!!

I know one thing.....I have learned to be patient!! Lots of that knowledge offered on here.  I was looking at Vacation Village at Parkway strictly for the points but there is a lot of mixed reviews about owning there.  I could buy for a penny a point but then began considering the cost of RCI and the exchange fees.  I am not real crazy about traveling right now to Florida becasue I have five children and more times than not....traveling to the grocery store sucks!!! Then I ran into Wyndham points....that seems to be a pretty cool timesharing program but also seems to be a little pricey and takes a lot of points to get a full week vacay!! I then learned that Wyndham can be traded in to RCI but there apparently is a conversion.....Heck....I dunno.  I am a very visual person so if anyone has a Timeshare board game to lay this whole thing out...let a brotha know!!!  Maybe there should be a a TiMESHaring for REALLY BIG DUMMMIES!!!!

I honestly appreciate all your input and I think I have gotten my fifteen dollars worth already......WooooHOOOOOO!!!! NOw i gotta get fifteen more  

I wanna vacay in SC/NC/GA and occassionally travel to Orlando.  Not thinking Disney is all that cool because it is so flippin expensive and I have always wanted to punch Mickey..... 

Maybe some of you retirees sitting on the beach in Tahiti can lay out some scenarios for me to better understand this whole system.  I need points...i know that for a fact.  We will take a family vacay once a year and a  few vacays the rest of the year to escape our five children.  :hysterical: This little dude is us in our home on a daily basis!! Oh and we need a resort that has lots of cheap wine!!! That is how we cope with our wild kids!!

Feed me my fellow tuggers.....feed me!!!  I need to be bottle fed about this timesharing!  I want to buy a contract for $1 and keep MF about $700 -$800 bienially.  I do like the Wyndham way of paying monthly!!! We would prefer Gold Crown Resorts!!

Thanks....Love yall!!!!


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## DeniseM (Apr 22, 2012)

Please note that although you have paid your $15 membership fee - you haven't changed your status to "member."  (You have to put the member code in your profile.)  

How to - http://www.tugbbs.com/forums/showthread.php?t=53

(Note - this is the last link on the BBS help article, linked in the blue bar.)

There is a steep learning curve with timesharing.  No one can actually give you all the answers, because it is such an individual thing.  Your best bet is to keep reading on the Wyndham forum.

Eventually, the light will come on, and you will feel more like you know what you are doing - until then - YOU ARE NOT READY TO BUY.
*
*A gentle suggestion - instead of starting new threads on this topic, please post additional comments and questions in THIS thread for the sake of continuity.*


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## jboynton1974 (Apr 22, 2012)

*Chewie!!!*

Next time you see my post......dont read!!!


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## ronandjoan (Apr 22, 2012)

jboynton1974 said:


> I know you guys probably think I am a wack job when it comes this whole timesharing stuff.  I spend way to much time on this TUG site but I am enjoying the wealth of knowledge that I "THINK" I am learning.  It seems that the more I read.....The more I get confused!! There is so much terminology and so many ins and outs of timsharing that my brain is sqwash!!
> 
> I know one thing.....I have learned to be patient!! Lots of that knowledge offered on here.
> 
> Maybe some of you retirees sitting on the beach in Tahiti can lay out some scenarios for me to better understand this whole system.



Timesharing was confusing to us at first too, you are fortunate that you found TUG first!  We didn;t..so bought from a developer first..as so many TUGGERS have.  But then, we found TUG and read and read.

We are retirees timesharing fulltime - although not always on a beach in Tahiti!  Read our BLOG for FUN!!!! maybe some things there would help you understand how things work, maybe not.  At any rate, it will encourage you to get into timesharing, but carefully. 

 Check the BARGAINS topic here on TUG BB's and you will be amazed at how many FREE timeshares are available, as well as on eBay for $1 - watch for free closing costs.  Perhaps you have already done this....if so, you know that TS are really cheap now.

Your mother-in-law might just have to give hers away in order to get out from under the maintenance fees- that's what people are doing (including us).

We think Wyndham points are the way to go, rather than RCI points, but then we use our timeshares differently than other people - actually, everyone is customized as to their particular circumstances and usages.   But I would think the FREE timeshares with free closing costs make for a no-brainer.


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## ronandjoan (Apr 22, 2012)

jboynton1974 said:


> Oh and we need a resort that has lots of cheap wine!!!
> !!!!



I do not know of many timeshares that offer cheap wine - go to Walgreens for $2.99 bottles.


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## ampaholic (Apr 22, 2012)

ronandjoan said:


> I do not know of many timeshares that offer cheap wine - go to Walgreens for $2.99 bottles.



Also if there is a Trader Joe's near - get a bottle of Charles Shaw (aka 2 buck chuck) Wine - well worth the 2 - 3 buck's it costs (depending on locale).


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## theo (Apr 23, 2012)

*Patience is a virtue...*



jboynton1974 said:


> It seems that the more I read.....The more I get confused!! There is so much terminology and so many ins and outs of timsharing that my brain is squash!! <snip> Maybe some of you....can lay out some scenarios for me to better understand this whole system....



You're no dummy. On the contrary, the mere fact that you found this site and are researching and asking questions *before* making any hasty, expensive and potentially irreversible purchase decisions or mistakes speaks quite well to your intelligence.  

In the (sometimes bizarre and often quite serpentine) world of timeshares there are many (and all very different from one another) systems, companies, points structures, flavors, usage and reservation rules, fees, etc. As a result, it would clearly be an impossible task to just boil it all down to a simple "board game" or any other such simple "visual". There is no "bottle feeding" option. It ain't simple --- period, amen. 

In my personal opinion, all you can (and what you should) do at this juncture is exactly what you are already doing --- but don't look for non-existent "magic bullets" or simple answers. Read and learn and absorb what you can, when you can --- then read and learn and absorb some more. Then apply that acquired knowledge to your particular individual finances and vacation objectives ---leaving your checkbook tucked securely *away* during the learning curve process. Thereafter, it certainly can't hurt to "rent before you buy" either, so that you can personally experience particular resorts / areas/ companies before deciding to take on the financial albatross of permanent ownership and annual fees. 

Try to remember and repeat the mantra that "it's always easy to buy, but it's usually difficult to sell". 
Try to also remember and repeat the directly realted mantra that "maintenance fees are forever".
Read and learn. Then read and learn and absorb more. Proceed slowly and with caution. Good luck.


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## jboynton1974 (Apr 24, 2012)

*Think i found a timeshare??*

Okay! Found a gentleman on TUG about a Wyndham timeshare at MB Ocean Boulevard.  It is 154000 points and he is giving away.  He said be can prep all the paperwork for deeds transfer to save me hundreds of dollars. Spoke with him and he seems to be stand up!  Kinda excited but reserved as a new time sharer. What y'all think Rutgers?


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## theo (Apr 24, 2012)

*Calm down, think, examine...*



jboynton1974 said:


> Okay! Found a gentleman on TUG about a Wyndham timeshare at MB Ocean Boulevard.  It is 154000 points and he is giving away.  He said be can prep all the paperwork for deeds transfer to save me hundreds of dollars. Spoke with him and he seems to be stand up!  Kinda excited but reserved as a new time sharer. What y'all think Rutgers?



Frankly, methinks that your unbridled enthusiam might be just overriding your long term analysis. 
Accordingly, I stand firmly by my previous detailed input to you, word for word. 

That being said, if you are indeed bound and determined to "damn the torpedos --- full speed ahead", at least figure out who will be paying the (Wyndham mandated) $299 transfer fee in the proposed transaction. This fee is unavoidable and is separate and apart from County fees to record a new deed.

Also, you might want to take a look at the applicable Wyndham charts to see if 154k points will actually get you anything / anywhere you might actually want / need (...particularly with a family of 5 kids). When I owned within Wyndham , my 2BR unit cost me 182k points for a week's usage...


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## puppymommo (Apr 24, 2012)

154k is not a bad size package to start out with.  I don't know how the MFs for Ocean Blvd are.

Good luck!  I acquired a "free" Wyndham points contract here on Tug last year.  It went very smoothly.


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## antjmar (Apr 24, 2012)

jboynton1974 said:


> Okay! Found a gentleman on TUG about a Wyndham timeshare at MB Ocean Boulevard.  It is 154000 points and he is giving away.  He said be can prep all the paperwork for deeds transfer to save me hundreds of dollars. Spoke with him and he seems to be stand up!  Kinda excited but reserved as a new time sharer. What y'all think Rutgers?


congrats   ocean blvd is one of the lowest MF resorts in myrtle beach AND you can use your arp at any of the myrtle resorts...  
Now the bad news 154k points will only get you a peak summer 1 br at westwinds or seawatch. still a good starter  size package but for a 2 br  summer week you will need more points.


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## antjmar (Apr 24, 2012)

ronandjoan said:


> I do not know of many timeshares that offer cheap wine - go to Walgreens for $2.99 bottles.


Actually they have those cheese and wine "welcome" nights at some of the wyndhams. The wine is cheap and its  free!!!:hysterical:


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## jboynton1974 (Apr 24, 2012)

I have looked at the Wyndham points chart in great detail and am aware of the points that it would take for a full week.  I have looked at SUN-THUR trips and it seems that may be the way we have to go until we build our portfolio and can acquire more points.  I am looking for a starter and this seems to be good since there is no initial up front investment, except for maybe the $299 transfer fee.  I can also use these points for the short vacations that the wife and I take without the kids.  I have not signed the dotted line yet THEO.  I have to pass this through the grand poo bah....the wife. I have read and read and researched and it seems the ins and puts of time sharing is endless.   I will be following up on the transfer fee for sure!!


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## theo (Apr 24, 2012)

*Yup...*



antjmar said:


> <snip>... but for a 2 br  summer week you will need more points.



Hence my relevant observation / reminder that the OP reportedly has *5 children*.


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## ronandjoan (Apr 25, 2012)

antjmar said:


> Actually they have those cheese and wine "welcome" nights at some of the wyndhams. The wine is cheap and its  free!!!:hysterical:



 But the OP wanted a list of those resorts.....:rofl:


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## jboynton1974 (Apr 25, 2012)

*Fat Chance!!*

I want a Wyndham Grand Desert Contract!! This seems to be very popular so PM so the TSers on this site dont beat me to it.....LOL!!


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## jboynton1974 (Apr 25, 2012)

*Maybe i meant*

Desert Oasis......little too much of the cheap wine....


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## DeniseM (Apr 25, 2012)

jboynton1974 said:


> Desert Oasis......little too much of the cheap wine....



[Sheraton Desert Oasis?]

I am assuming that you want this for an Interval trader? 

Have you had a chance to read the Starwood FAQ at the top of the Starwood forum.

At SDO, you will need a 2 bdm. lock-off - Gold Plus (floating 1-52.)  The Plat weeks are 10 x more expensive, and the gold and silver weeks don't have the trading power you want.

If you find one, I recommend that you post a link to the Ad on the Starwood forum for advice.


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## ronparise (Apr 25, 2012)

there are 3 small Grand desert contracts on ebay now Use a sniping service to make your bids and I bet you can get one of them if you bid a reasonable amount. (I would pick a number equal to a years mf)


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## DrBopp (Apr 26, 2012)

jboynton1974 said:


> Okay! Found a gentleman on TUG about a Wyndham timeshare at MB Ocean Boulevard.  It is 154000 points and he is giving away.  He said be can prep all the paperwork for deeds transfer to save me hundreds of dollars. Spoke with him and he seems to be stand up!  Kinda excited but reserved as a new time sharer. What y'all think Rutgers?



From what  I've read in your posts, Wyndham would be a good fit for you. They have 5 Myrtle Beach locations, 2 in Tennessee , 3 in NC and 5 or 6 in Florida, including Orlando. They all are 4-5 hours from you with the exception of Florida. Plus, it is a points based system and they have resorts all over the USA, including Hawai'i and you can go most any time if you have the points available. Lastly, depending on how many trips you take a year, you generally do not have to pay any additional fees for reserving at different resorts within the system, meaning that your maintenance fee are all you would have to pay yearly. BUT, I am not sure that 154000 points would be enough for you, because it takes 225,000 points to get a 2BR condo at some of the newer resorts in prime season like summertime in Myrtle Beach or Ski season in the mountains. With that being said, I would advise you to study the system more and ask a lot of questions before you take on the  bill.  There are other systems available, but Wyndham offers the best value/resorts/flexibility correlation of any system of timeshare. Some cost less, others are more luxurious and few have as many choices of locations as Wyndham. These are strictly my observances and I am definitely biased. Check it out for yourself, and if you decide Wyndham, a larger contract may be in order, but don't overload yourself because it is way easier to add than to take away.  Good luck on your search.

Gordon


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