Hi, I am an owner of several ski weeks at Marriott Mountainside, which I purchased (resale) with the idea of stringing together several weeks (currently I own three but may be purchasing 1 to 3 more over the next few years) in order to emulate fractional ownership of a ski in/ ski out condo. 4 to 6 consecutive ski weeks is more than enough for me (in retirment, which is still years away - for now I rent out most of the weeks), and worlds better and more affordable than buying a comparable condo outright. The quality of the units at MS are also just fine for me.
I have recently begun to look at destination clubs as another alternative, either in addition to or in lieu of my current plan. For me they dont seem to work as well because I couldnt get as many conecutive ski season weeks as with the Marriott program, even for much more money. However, its been an education as I have started to learn about the various different options, some of which are really intriguing.
One option I have been looking into with some real interest is the Crescendo program. While I have only just started scratching the surface from a due diligence standpoint, as I understand it, this program actually offers an equity interest in the underlying real estate portfolio, which has a finite life of, I think, 10 years. Owners need to be accredited investors and acquire shares in the REIT that owns the property. So, after 10 years (I think I have this right but not sure), the portfolio is sold and the owners are supposed to get back their initial deposit plus 60% of any appreciation. (I supopose if the value goes down there is also risk of loss, but that would be the case with any real estate investment).
Does anyone know anything more about this program? The only info I have comes from articles and reviews in the Helium Report. But, all things being equal, this sounds a bit like a no brainer - access to a portfolio of properties for vacations, just like the non-equity clubs, plus ownership and potential appreciation. Apparently the CEO/ founder is someone who was involved with the design of the Marriott and the Disney vacation club programs.
Any thoughts would be appreciated. The buy in numbers are quite steep, but if this really could be viewed as a hybrid real estate investement/ destination club, then myabe they're really not so steep.
Would appreciate any thoughts or info.
I have recently begun to look at destination clubs as another alternative, either in addition to or in lieu of my current plan. For me they dont seem to work as well because I couldnt get as many conecutive ski season weeks as with the Marriott program, even for much more money. However, its been an education as I have started to learn about the various different options, some of which are really intriguing.
One option I have been looking into with some real interest is the Crescendo program. While I have only just started scratching the surface from a due diligence standpoint, as I understand it, this program actually offers an equity interest in the underlying real estate portfolio, which has a finite life of, I think, 10 years. Owners need to be accredited investors and acquire shares in the REIT that owns the property. So, after 10 years (I think I have this right but not sure), the portfolio is sold and the owners are supposed to get back their initial deposit plus 60% of any appreciation. (I supopose if the value goes down there is also risk of loss, but that would be the case with any real estate investment).
Does anyone know anything more about this program? The only info I have comes from articles and reviews in the Helium Report. But, all things being equal, this sounds a bit like a no brainer - access to a portfolio of properties for vacations, just like the non-equity clubs, plus ownership and potential appreciation. Apparently the CEO/ founder is someone who was involved with the design of the Marriott and the Disney vacation club programs.
Any thoughts would be appreciated. The buy in numbers are quite steep, but if this really could be viewed as a hybrid real estate investement/ destination club, then myabe they're really not so steep.
Would appreciate any thoughts or info.