# Individualized thoughts on this timeshare purchase



## horseymen (Jul 9, 2014)

First of all, I respect that in these kinds of boards, there's a mentality to search, learn, not be spoon fed, etc... I try to adhere to all of those axioms.  I've probably spent a day researching before posting.

Here's what I've learned:

There's a general unfavorable attitude toward DRI - it doesn't seem to be a great value - as many times people rent to try to recover whatever points they can - have to give away the deeds to get out of it - and it is a buyer's market.

I have rented Polo Towers in Vegas the last 2 years for NYE.  Two years ago, I rented from someone who had a float week, and 60 days out, there was availability - and we were given a 13th floor 2 bedroom (pretty high up) - beautiful view of fireworks and people watching during that time.

Last year, I bought from a lovely individual who owned a specific room that they have every year for NYE week.  I asked if they were renting again this year (something like 12th floor, but tower 2 facing the MGM) - and they offered me the chance to buy.

They paid 2014 MF and don't want anything for it but closing costs - which seems to be what DeniseM and others state is the kind of package you want when getting rid of a timeshare.

The MF's though according to her are $1200 a year - which is more than I paid renting the last two years ($950) for the same room.  But there is something to be said to having a guaranteed strip room fairly high up every year for NYE.  That exact value I have no idea about - and wonder if it's more intrinsic than extrinsic.  

So some personal tidbits that might factor into someone's decision making:

A) I have been in Vegas for NYE 14 of the last 15 years.  It's safe to say it's an annual tradition.  I'm a college professor, so I'm off during this time, and will likely to be for the near future.

B) $1200 is not a scary yearly expense given our budget/traveling - and likely will not be unless something happens to us.

So - thoughts/ideas about this package?  Is it normal/customary?  Should I request her to pay closing fees?  Should I pass and just rent?  As DRI moderates to pessimists (that's what I gather from the tone of the board), your thoughts would be interesting and help guide me in what I don't want to be an emotional, but instead logical decision - which is obviously way better than retail - but if most of you might value Vegas/NYE and you still wouldn't touch it with a 10 foot pole, that might be something worth noting.  It seems on other boards, the Vegas timeshares do tend to go at a premium for NYE - one recent listing for the Grand Chateau (behind Polo towers) is $1850 for a 2 bedroom for the same week.  

Any other considerations/resources to research?  Given that I've been in the exact room I'm considering buying and stayed there two years, I at least know what I'm getting - but trying to peg if there's a value in owning DRI is what I'm trying to gather now.


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## RuralEngineer (Jul 9, 2014)

*DRI*

DRI is what you make it.  Sounds like you are talking about purchasing a deeded week rather then points.  A deeded week that you can enjoy with your family every year can be a great purchase.  As time goes on you may want to acquire cheap points to expand your options.  The only real expense comes if you decide to convert your purchase into the club.  

I am happy with my Silver level benefits at this point in my life.

Stephen


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## tschwa2 (Jul 9, 2014)

I would pass.  If you can rent it for less than MF's on the most prime week possible then what happens if that week isn't available.  It sounds like it is a deeded fixed week than can float 60 days prior.  If things pick up then in all likelihood rental prices may go up but it also means that the week is less likely to have availability at 60 days or less.  Also if the 60 day float provision isn't a part of the original deed or offering documents that you can obtain a copy of, it would also mean that DRI could take that perk away at anytime and you would be stuck with a fixed week that you don't want with fairly high MF's that will continue to rise.

The danger with waiting to float at 60 days for week 52 would be that if it isn't available you might not get any week or have to take weeks 49 or 50 which would have almost no demand and very little trading power especially deposited at less than 60 days.

If it were a fixed week 52 and that was your primary interest, I would be hesitant because of the fees but more inclined to say go for it.


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## johnrsrq (Jul 9, 2014)

I agree with all that Rural Engineer said. You are not getting into Diamond's "THE CLUB" but you are in all probability buying a deeded week at DRI's managed property and HQ. Check or have checked the proposed deed. The week would have assignable points however, you would have to add thousands of dollars for both entry and additional DRI points which then would be part of the US Collection Trust. It is costly to get from the standard to first level up silver as you will see if you go down that road. Basically, you're required to buy some developer points at $2.8-$3. If you were going down that road, take your time before you do this. And they pay all costs to transfer and make sure you get an estoppel/ good representation.

I like Diamond. It has worked for me. However my entry circumstances were much different. There is private facebook group for DRI members which is mostly used by our European collection.

The week itself, not joining but if deeded with NYE and unit specific, might work for your in the short run- ie next few years- but how to unload it might be an issue... but it might not given the week.

good luck 
John


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## artringwald (Jul 9, 2014)

Many of the complaints about DRI are from people who were sold a small number of points (3000-5000). The price of the Club membership + the overhead of managing the trust + the normal maintenance fees make it very expensive for the limited number of vacations you can book with those points. You also here complaints about DRI's business practice of taking over the HOA's so owners have little say about how the resorts are managed. What I do like about DRI is they try to keep the properties in good shape, even if they do charge high prices for management. The employees at the resorts have always been great. We own two DRI deeded weeks in Kauai, one in the Club because we purchase from the developer, and one out of the Club which we purchased resale. We've never regretted either purchase.

If you plan to keep going to Las Vegas for a very long time, I'd say buying is a great idea. Just keep in mind that buying a timeshare can be a lifetime commitment to ever increasing MF's.


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## VegasBella (Jul 10, 2014)

I live in Vegas and New Years is definitely the most desirable week to own. If it's a fixed week then it has value. 

Which begs the question - why are the sellers offering it to you at such a deal? Probably because it's not a fixed week.


Sent from my iPhone using Tapatalk


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## dougp26364 (Jul 10, 2014)

We own 2 weeks at Polo Towers. They were our first two timeshare purchases back in 1998 and 1999. 

Polo Towers is a well maintained timeshare with probably the best location in the Las Vegas strip. Towers 1 & 2 were sold as fixed week/fixed unit deeds. Owners can float their usage if, 1. The week they want has been released by another owner and/or 2 it's within a 60 day window. 

For Las Vegas timeshares, Polo Towers has some of the highest. We also own with HGVC and at Marriott's Grand Chateau. Both have nicer units and have more amenities but are less expensive than Polo Towere.

Polo Towers has had 2 special assessments since we've owned one due to cases of legioniers traced to Polo Towers water system and another very large assessment to update the units. Polo Towers continues to put less than 50% of what HGVC and Marriott collect for cash reserves, which is a find used to refurbish the units and general maintenance needs of the resort. This continues to be a concern for me. 

It's one of the nicer timeshares in Vegas with a great location. It has always traded well for us in the past. DRI does a nice job of maintaining the timeshare but owners pay a premium for their services. If you're buying to use and the deeded week works for you, then owning there is fine IMHO. if you're flexible and don't mind waiting for the 60 day float window it's fine. If you  we'd to lock up a travel date outside of the 60 day float window I'd look for something else or Comintern to rent.


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## csalter2 (Jul 14, 2014)

*Keep Fixed Week*

I own DRI points in the US Collection, so Polo Towers is included. I went to Polo Towers on New Years Eve two years ago and had a great time.  The location is perfect.  If this is what you want then, I would say that it is fine.  I would stick with the fixed WEEK and not go to points.  It's cheaper and less issue. 

I do love DRI and my points. However, I have a lot of them and I am not limited like others because I have many points. As long as you can afford the maintenance fees, then DRI is not a problem.


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