[2008] SDKath's guide to 5* platinum [merged]

[SDKath]

LOL. None of the above. I sent you PM.... K

 

[DavidnRobin]

LOL. None of the above. I sent you PM.... K

I would guess something that involves a lot of heart...

 

[pointsjunkie]

I would guess something that involves a lot of heart...

:hysterical: :hysterical: LOL

 

[duke]

Consider this:

1. Use of "Phantom StarOptions" to get to 5*ELITE is a One-Time feature. That is, your count of StarOptions for the purpose of qualifing for 5*ELITE status at that time is increased. I believe the amount is up to 15k for EOY developer purchase and 30k for EY purchase. CAUTION: if your portfolio changes (you sell, transfer, or change) your current selection of SVN owned units you "MAY" lose the "phantom staroptions". You do NOT own these options.

2. The current minimum dollar amount you must spend for an "Upgrade" is $12,000.

3. There is NO such thing as Upgrading your current unit. The transaction is you turn in your current Ownership unit, receive credit for that unti, AND THEN PURCHASE a new unit at CURRENT PRICES.

4. Consider before making a developer purchase of an ANNUAL unit that you can split into TWO EOY purchases and then requal TWO resale purchases (as long as you meet the dollar threshold).

5. MOST IMPORTANT: READ THE FIRST POST in the sticky regarding the process for requalifing a resale. These rules still hold. GET IT IN WRITING. GET THE LISTED DOCUMENTS COMPLETED BEFORE YOU SIGN ANYTHING.

6. The biggest reason to get to 5*ELITE is SPG Platinum for Life. There are only 2000 of these available. When they are gone they are gone (some may differ on this). So, be prompt if you choose to do this.

 

[Bill4728]

Consider this:

1. Use of "Phantom StarOptions" to get to 5*ELITE is a One-Time feature. That is, your count of StarOptions for the purpose of qualifing for 5*ELITE status at that time is increased. I believe the amount is up to 15k for EOY developer purchase and 30k for EY purchase. CAUTION: if your portfolio changes (you sell, transfer, or change) your current selection of SVN owned units you "MAY" lose the "phantom staroptions". You do NOT own these options.

2. The current minimum dollar amount you must spend for an "Upgrade" is $12,000.

3. There is NO such thing as Upgrading your current unit. The transaction is you turn in your current Ownership unit, receive credit for that unti, AND THEN PURCHASE a new unit at CURRENT PRICES.

4. Consider before making a developer purchase of an ANNUAL unit that you can split into TWO EOY purchases and then requal TWO resale purchases (as long as you meet the dollar threshold.

5. MOST IMPORTANT: READ THE FIRST POST in the sticky regarding the process for requalifing a resale. These rules still hold. GET IT IN WRITING. GET THE LISTED DOCUMENTS COMPLETED BEFORE YOU SIGN ANYTHING.

6. The biggest reason to get to 5*ELITE is SPG Platinum for Life. There are only 2000 of these available. When they are gone they are gone (some may differ on this). So, be prompt if you choose to do this.

Not to take anything away from what SDKath has said, but DUKE is the one who brought the whole "You can retro your resale week" to our attention.

Thanks Duke

 

[myip]

The only caution that I would regarding this thread is Starwood changes the rules all the time. You really need to talk with the salesrep for the current rules. Since last year, I think they changes the rules at least 3 times. If you start the process now, the rules can change in 3 months after you brought your resales and ready for upgrade or purchase from SVN. Make sure you have an exit plan if it doesn't work out.

 

[Troopers]

6. The biggest reason to get to 5*ELITE is SPG Platinum for Life. There are only 2000 of these available. When they are gone they are gone (some may differ on this). So, be prompt if you choose to do this.

I tend to disagree. 5* Elite (SPG Platinum for Life) is a byproduct of spending $50k+ into *wood. The biggest reason to spend this kind of money is for timesharing; not SPG PLF. IMHO.

 

[myip]

I tend to disagree. 5* Elite (SPG Platinum for Life) is a byproduct of spending $50k+ into *wood. The biggest reason to spend this kind of money is for timesharing; not SPG PLF. IMHO.

I disagree with you. If you plan accordingly, SPG PFL is very valueable. I didn't get into SVN because of timeshare. I got into it because of SPG. I got 570500 Staroptions per year with $4300 per year in maintenance fees and 287980 starpoints. The value of the starpoints that I get is a lot higher than $4300. The bonus of it that I can choose to use it for timesharing or convert to starpoints.

 

[stevens397]

My question is how you all look at and think about the future. I have had an amazing run with Starpoints and combined with SPG Platinum, it was even more amazing - suites all over Europe, for free!

When I bought Kierland, it came with 72,000 Starpoints in trade value. If I added a mere 8,000, it brought me up to 80,000 and that was worth 10 nights in a room in St. John! While some downplay rooms versus suites, it was a fabulous value. At Category 6, it would now get me between 3 and 5 nights and that is only four years later.

I can afford to go ahead with the pursuit, but I fear I'll look back 3 or 4 years from now and think I was crazy - I'll get Platinum for life but the 250,000 - 300,000 annual points would get much less than I could get right now.

Our single best usage over the last few years has been trading Starpoints (from the AMEX) to Cathay Pacific's AsiaMiles program and using them for Business and First Class tickets to Europe. Yes, they devalued them a bit but they are still a great deal. Unfortunately, something is up and it often takes an hour on hold to get through.

I guess I'm saying that I sometimes feel it was great while it lasted and that the golden days may be behind us. Aren't you all scared that you might own resorts in places you don't want to go to so you can get points that will be worth less and less? I already have a WMH waiting to get through ROFR. If I felt good about this stuff, I'd make the move in a heartbeat. Thanks for letting me ramble and happy Memorial Day!

 

[Troopers]

I disagree with you. If you plan accordingly, SPG PFL is very valueable. I didn't get into SVN because of timeshare. I got into it because of SPG. I got 570500 Staroptions per year with $4300 per year in maintenance fees and 287980 starpoints. The value of the starpoints that I get is a lot higher than $4300. The bonus of it that I can choose to use it for timesharing or convert to starpoints.

WOW!

It’s really not necessary to discuss the merit of your logic. I just do no think it’s very prudent to think this way.

I’m glad it works for you.

 

[myip]

I can afford to go ahead with the pursuit, but I fear I'll look back 3 or 4 years from now and think I was crazy - I'll get Platinum for life but the 250,000 - 300,000 annual points would get much less than I could get right now.

I totally agree. You have to look at which resort that you are trying ret'rd in and what is the maintenance fees. Not all resort is feasible to convert to starpoints. You also look at the payback time. I choose Lakeside Terrace and SMV because of ratio - maintenance fees /starpoints conversion. I didn't want to do it with WMH because of high maintenance fees and taxes. You really need to look at the overall picture.

IF I were to liquidate all my starwood purchases today, I will lose 35K (TOTAL cost - resale value). However, I got a lot of incentive to become 5* - so my lost is probably around $20K. I looks at it as I spend $20K for PFL 280000 starpoints and 4300 maintenance fees.

 

[SDKath]

Hey guys -- rule of the thread is we don't debate the merits of doing this. We talk about HOW getting to 5* can be done for those who find it useful (for whatever reason).

Please let's talk about "to 5* or not to 5*" elsewhere. It helps focus the thread. I think it's better to stick to the different ways to make it all happen here...

And yes, DUKE deserves a big thank you to for all of the advice he has posted on this board (and I meticulously read) over the years.

Katherine

 

[DavidnRobin]

Damn - and I wanted to make a comment on the value/merits of doing this... where is the thread that discusses this?
:hysterical:

 

[OKPACIFIC]

Great Post! We own a WKOR-N resale property. We asked our Starwood sales rep about the concept of upgrading a resale property. She said that checked up the chain of command all the way to the top person in charge of all HI properties and was told emphatically that they do not touch resale properties for upgrades. Questions (1) Are the rules for HI properties different than elsewhere? (2) We really like our Starwood sales rep, but don't want to mess this up by barking up the wrong tree -- do you have any recommendations as to what our next step should be?

 

[myip]

What are you trying to upgarde? Is it to a different view? There has to be min amount for upgrade to work.

 

[OKPACIFIC]

I currently own an Annual OF. My plan was to buy a resale Island View, pay to upgrade it and requalify my OF. I didnt get to that detail with my sales rep, I was just asking her generically about the ability to upgrade a resale property and got the response I mentioned in my post.

 

[tlpnet]

I have a feeling that the problem here is a combination of policy AND availability. WKORV and WKORV-N are pretty much sold out, so there probably isn't inventory to achieve an upgrade there. To upgrade, you have to spend a certain amount of new money (new developer unit less amount paid for your unit when purchased from the developer). Then, to requality a resale, you have to spend either $20,000 or $40,000 in new money, so if you meet the first rule, then you have to meet the second rule also to do what you want. If your salesperson isn't telling you that, you need a new salesperson. Feel free to PM me if you want a recommendation.

 

[OKPACIFIC]

tipnet, thank you for your offer. I sent you a PM for the recommendation of a sales rep. For the public discussion board, when I was visiting with the sales rep as of August 12 2008 there was at least 6 OF KORV-N properites available. Curiously, these did not have any incentive points associated with them.

 

[DavidnRobin]

as mentioned in another thread - you can buy OF WKORV (better OF) resale for $45-50K - consider this cost against the cost of an upgrade.

 

[myip]

tipnet, thank you for your offer. I sent you a PM for the recommendation of a sales rep. For the public discussion board, when I was visiting with the sales rep as of August 12 2008 there was at least 6 OF KORV-N properites available. Curiously, these did not have any incentive points associated with them.

By the time you finished buying a resale Island view unit, there won't be any inventory left for the OF for you to upgrade in. This is probably the reason why the salesperson say you can't do it with Hawaii unit.

 

[DJmonkey]

How do I know what someone paid for a resale?

4) Optional, extra savings step: Look for a couple of resale units to “upgrade.” This means you buy a unit inexpensively on resale and Starwood gives you credit for the original purchase price (the price paid by original owner to Starwood). The units you choose for upgrading have to be in locations that Starwood is actively selling AND have reasonable resales so the choices are limited. Try to find units that are selling cheap now but were really pricy when first bought. My PGA 2BR non-LO cost me $500 on ebay but got me $15,000 credit toward a purchase! Options include:​

How do I know what amount of credit I will get when upgrading?
There is a 2br WKVOR listed for $16K on ebay. I am wondering how much credit I would get if I wanted to upgrade this and requl in some other cheap resale.

 

[SDKath]

You need a good Starwood rep to tell you. If you are going to retro/requal something, you should be working with someone at Starwood anyway to make sure what you are doing is ok (you have the minimum difference in price, availability, etc).

If you call your sales person with the unit number and week number, they can tell you exactly what the original price was. Asking the seller I found is totally useless. People don't remember and tend to "overguess" what they paid. The deeds often say the price after the downpayment, etc. So the best is to go with the Starwood database, which your sales person can access.

Katherine

 

[SDKath]

By the time you finished buying a resale Island view unit, there won't be any inventory left for the OF for you to upgrade in. This is probably the reason why the salesperson say you can't do it with Hawaii unit.

It's a gamble but they have told me for almost a year now that WKORV and WKORV N are sold out. Yet every time I call them directly, there are ALWAYS units available, even in the OF ones (for $104k!!!). Heck, I even found some WKV units for sale recently (?bankruptcies that were repossessed by Starwood?) even though WKV has been sold out for years.

Katherine

 

[DJmonkey]

It's a gamble but they have told me for almost a year now that WKORV and WKORV N are sold out. Yet every time I call them directly, there are ALWAYS units available, even in the OF ones (for $104k!!!). Heck, I even found some WKV units for sale recently (?bankruptcies that were repossessed by Starwood?) even though WKV has been sold out for years.

Katherine

What WKV inventory were they selling?

You need a good Starwood rep to tell you. If you are going to retro/requal something, you should be working with someone at Starwood anyway to make sure what you are doing is ok (you have the minimum difference in price, availability, etc).

If you call your sales person with the unit number and week number, they can tell you exactly what the original price was. Asking the seller I found is totally useless. People don't remember and tend to "overguess" what they paid. The deeds often say the price after the downpayment, etc. So the best is to go with the Starwood database, which your sales person can access.

Katherine

Do you know a good Rep? Mine was nice but a little flaky. She thougth I could only requal a one bed with a new one bed purchase.

 

[DJmonkey]

2000 Memberships

So I have seen the 2000 SPG membership number listed a few times. Any idea how many are left? I can get to 4* pretty easily, but fear if I do the Joshadelic 5-8 year plan, there wont be any 5* memberships left. Or the system could have changed about 25 different times in that span.

Also whats the big motivator from 4* to 5* I am pretty much just interested in the bonus conversion.

I vacation anually in AZ so I need to pick up a WKV. From there I think I just need to upgrade my WLR and I would be 4*.
Not sure if I see much point in 5*.
What does PFL really get you? Better chance of upgrades?