Understand. But you were platinum and you've definitely benefited from that elite status, right?
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Yes I was Platinum, but I did it for $6000 down and $150 a month and even that was too much except for three things that cant be done anymore
Platinum is much more valuable than Silver. 30 guest confirms and unlimited transactions made a big difference, but the big deal was that I learned from tuggers was that you could become Platinum with just a 63000 point direct purchase, ($12000)But even $12000 was too much, Ultimately I figured out how to get VIP with all resale contracts. You only needed 1 million VIP eligible points. You could then add up to a total of 40 contracts per account and all the points got the discount But even that didnt help much because the reservations I got within 60 days of check in were not good rentals.. What made my accounts profitable was learning the cancel/rebook/upgrade trick... Everything could be discounted and you cant do that any more But that aint all........
There were three features of a wyndam ownership that I used to make the system work for me (some might call them loopholes 1) cheap (free) VIP accounts 2) the cancel rebook trick and 3) the credit pool
The problem was that I got too big, Using the credit pool. I was using 3 years of points in my first year of ownership but just breaking even in future years.. I had to grow or die, and I didnt have an exit strategy .. I had to dump some of my contracts every year.. I needed a buyer.....and I didnt have one, until I did
In 2014, I sold off 20 million points (I kept 10) and bought another 20 million, did it again in 2015 and was on my way to doing it yet again in 2016. and then my world fell apart.. Wyndham froze my accounts (and a lot of others) It wasnt rentals that brought me down. wyndham really doesnt have a problem with rentals (They do on the scale I was doing it, but not generally) . Their problem was that I had more reservations in my account than my ownership could justify. I had 90 million points in reservations in a 10 million point account. and they couldnt figure out how that could happen..... so I told them. I used the credit pool to put 3 years of points into reservations, then I sold the underlying contracts..
I still remember the exact words I used to tell their lawyer what had happened. "I owned 30 million points at the beginning of the year, I used the credit pool to put 90 million points in reservations, and then I sold contracts with a face value of 20 million points, that were now stripped of points.....(pause for effect) and the ironic thing is; You bought them" "Oh and I have 10 million more points under contract to buy. They will settle by the end of the year. I intend to strip them and sell those contracts to you too"
Thats what pissed them off. Not the rentals, not stripping contracts, not even that I sold off the stripped contracts....What pissed them off was that they were the ones that bought the stripped contracts.
I may be taking more credit than I deserve, but I think you can thank me (and the other guys that were doing what I did) for the auto upgrade feature that brought and end to the cancel/rebook/uppgrade trick and you can thank me for the end of the credit pool
I didnt have a business, I had a hustle, that worked for a while and then it didnt... not for me, or anyone else..