Presidential Reserve

[Jerry Baiamonte]

I'm looking for any advice on PR. I was told that if I go into PR, they could sell 225k pts and I would receive around $6000 annually. Any thoughts on this?

 

[Jerry Baiamonte]

I was in a sales presentation today and was told that if i went into Presidential Reserve i could allocate 225k pts to Wyndham and they would rent units at PR for around $6000/yr. Any thoughts on this?

 

[rickandcindy23]

What? That sounds ridiculous. And why did you start three threads on the same topic? Wyndham is not going to help you with anything. It's a salesperson talking. That is so bizarre, but totally not true. Wyndham wants your money, they are not going to make you money.

 

[Sandi Bo]

I was in a sales presentation today and was told that if i went into Presidential Reserve i could allocate 225k pts to Wyndham and they would rent units at PR for around $6000/yr. Any thoughts on this?

Wyndham sales has always pitched that kind of line, IMO. They might even show you a sheet of best places to rent and how much they will bring in (hey, look at Daytona Beach for the Daytona 500). No guarantees, and no way they could actually do it. Just lies to get you to buy.

Looks like you just found TUG, good! Welcome, hope you stick around. It's a good place to bounce stuff off of other owners.

 

[dgalati]

I was in a sales presentation today and was told that if i went into Presidential Reserve i could allocate 225k pts to Wyndham and they would rent units at PR for around $6000/yr. Any thoughts on this?

If it Sounds to good to be true its probably a lie. The only way they make any money is if you spend $

 

[Jerry Baiamonte]

What? That sounds ridiculous. And why did you start three threads on the same topic? Wyndham is not going to help you with anything. It's a salesperson talking. That is so bizarre, but totally not true. Wyndham wants your money, they are not going to make you money.

Sorry, I was having an issue with my phone on posting. I apologize for the multiple posts.

 

[Jan M.]

You aren't going to make $6k off 225k points even doing your own rentals. If you rented through Extra Holidays you will make even less than if you did your own rentals. From what we on TUG know the only renting sales people are now allowed to talk about is renting through Extra Holidays. Extra Holidays gets a 40% cut of whatever part of the reservations you make and turn over to them rents. Say you booked a 7 night stay and put it in Extra Holidays. If only part of the stay rents you forfeit the other nights and get nothing for them. Wyndham gets to keep those nights for their own use. And you will get a tax form to submit when you get paid for the nights they do rent.

 

[dgalati]

Interesting Concept spend upwards to 40K so you could rent the points and not use them.You may have a misunderstanding in the 6k per year.

 

[dgalati]

Wyndham will be the only one making money on your purchase of additional points to presidential

 

[Jerry Baiamonte]

Interesting Concept spend upwards to 40K so you could rent the points and not use them.You may have a misunderstanding in the 6k per year.

The premise is after 10 years the loan is paid off and all left is MF and the rentals will continue to rent paying the MF.

 

[bestpal38]

The premise is after 10 years the loan is paid off and all left is MF and the rentals will continue to rent paying the MF.

They tried this with me about a year ago. Sales weasel told me, put 100,000 points in Extra Holidays, and watch the money roll into your paypal account. At first he told me $5,000 a year. Then when I questioned him, it went to $3,000 a year, then $1,500, ok you get the picture. You can't even get a weeks stay anywhere for 100,000 points, much less make that much off the rental, especially since Wyndham takes 40%. They make it sound really appealing, but no proof to back up the lies, or misrepresentations. And remember more points=more Maint fees!!

 

[rickandcindy23]

I heard the biggest pack of lies at a Shell presentation about the Wyndham credit card. It was ridiculous. Put everything on your card and it will pay your maintenance fees for you. I asked what the spend points were per category. 10X, he said, on "everything!" I said he should show me the facts on that. He couldn't/wouldn't, so we told him he was just lying about it. I actually did accuse him of lying. Unfortunately, the people in the room next to us were signing paperwork to buy. I wanted to help them but didn't have the guts to outwardly warn these people.

 

[dgalati]

The premise is after 10 years the loan is paid off and all left is MF and the rentals will continue to rent paying the MF.

More Wyndham math.

 

[bendadin]

The premise is after 10 years the loan is paid off and all left is MF and the rentals will continue to rent paying the MF.

But the math isn't there. You will still have MF on those 225K points so I'm not saying that it will be impossible to pull in $6k on 225,000 points, it is pretty well impossible. Aside from the fact, if you can't do it now, you probably can't do it then.

What are they trying to sell you anyway?

 

[Fredflintstone]

I was in a sales presentation today and was told that if i went into Presidential Reserve i could allocate 225k pts to Wyndham and they would rent units at PR for around $6000/yr. Any thoughts on this?

Tell him to put it in writing and ensure that the contract is signed and notarized by a proven Wyndham executive. Insist they add that fraud can result in legal action. Have your lawyer to confirm that Wyndham signatures are authentic and authorized and contract is correctly worded to the promises made. Remove the clause that Wyndham can change terms of the contract at anytime for any reason.

If they can’t do that...tell them they are full of it and get up and walk away. You want written proof not lip service.


Sent from my iPad using Tapatalk

 

[Jerry Baiamonte]

But the math isn't there. You will still have MF on those 225K points so I'm not saying that it will be impossible to pull in $6k on 225,000 points, it is pretty well impossible. Aside from the fact, if you can't do it now, you probably can't do it then.

What are they trying to sell you anyway?

I walked out on it. Just wondering if anyone else has heard of this math.

 

[Fredflintstone]

I walked out on it. Just wondering if anyone else has heard of this math.

I’ve heard of similar math with Westgate and Hilton. For some reason, these jokers think they can lie to get a sale and then deny it because it’s not in writing. The TS companies use the signed, written contract as proof that the person making the claims of promises made are the liars.

Scummy business. Still goes on and that is why they get defaults and law suits. Their strategies have also lead to exit companies flourishing which I certainly don’t believe in either.

It’s sad you need to feel you need to lie to get a sale. Where I come from, your product and pricing should be your salesman.


Sent from my iPad using Tapatalk

 

[dgalati]

But the math isn't there. You will still have MF on those 225K points so I'm not saying that it will be impossible to pull in $6k on 225,000 points, it is pretty well impossible. Aside from the fact, if you can't do it now, you probably can't do it then.

What are they trying to sell you anyway?

It's called a big helping of B***S**

 

[cbyrne1174]

I bought my resale contracts with the intention of renting out 224,000 points every year and getting about $2500 back from it. That's how I bypass paying for housekeeping/reservation transactions since I don't want to pay for VIP. My annual MF are $2710 and I own 497,000 points. I use the remaining 273,000 points, 343 HK credits and 4 reservation tokens for myself. If you learn the rental market, it's way more cost effective owning this way. If you factor out the rentals, I use 273,000 points and only have to pay $300 tops for them because the rentals cover the rest.

Wait...technically, I do go to about 3 owner updates a year to cover the last $300...so essentially I just have to pay for the dog sitter.

 

[Jerry Baiamonte]

L

But the math isn't there. You will still have MF on those 225K points so I'm not saying that it will be impossible to pull in $6k on 225,000 points, it is pretty well impossible. Aside from the fact, if you can't do it now, you probably can't do it then.

What are they trying to sell you anyway?

This would have brought me to the "New" level in PR "Founder's". More BS

 

[bendadin]

L

This would have brought me to the "New" level in PR "Founder's". More BS

Are you PR under the old system?

 

[Jerry Baiamonte]

Are you PR under the old system?

No I'm gold VIP.

 

[dgalati]

No I'm gold VIP.

You need to buy up to the founders level to be a real VIP. What ever it takes be it 50 or 60 K. Just do it!

 

[Jan M.]

You need to buy up to the founders level to be a real VIP. What ever it takes be it 50 or 60 K. Just do it!

Just so you know, he's kidding.

 

[dgalati]

Just so you know, he's kidding.

It was satire. Of course I was kidding.