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[ 2012 ] Purchase to Rent through Extra Holidays Program

vckempson

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Thanks to all for the attack posts, it would not be me, but I would not be surprised to see newpapers articals that are less than flattering on some of the TUG click. Any other members of the TUG click wish to come forward?

No takers but "m sure they will pile on shortly. Maybe they're just afraid that Geraldo Rivera might come calling. :hysterical:

Also, I have a metronome you can have. It has a strong "Clique" that you might enjoy. "I'd rate it a 10, it has a good beat!"
 

pacodemountainside

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Question on EH fees. Cannot find copy of rental contract on web site so will run up the flag pole.

Is their 40% AI? Or, are travel agent fee and credit card fees deducted if applicable.


I had a scammer contact me I asume from rentals I had posted on Red Week and craigslist. His fee was only 35% of gross, but travel agent fee of around 12% and credit card fee of around 3% would come out of my share leaving me with around 50% or just recovering MF!:(
 

rrlongwell

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Question on EH fees. Cannot find copy of rental contract on web site so will run up the flag pole.

Is their 40% AI? Or, are travel agent fee and credit card fees deducted if applicable.


I had a scammer contact me I asume from rentals I had posted on Red Week and craigslist. His fee was only 35% of gross, but travel agent fee of around 12% and credit card fee of around 3% would come out of my share leaving me with around 50% or just recovering MF!:(

I tried to post the whole contract and rules, but it would not take. Here is an estract that covers you question.

"If your vacation reservations (or any part thereof) are rented through this Program, you will receive sixty percent (60%) of the Net Proceeds from the rental." I do not see where "net proceeds" is defined in the documents.
 
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rrlongwell

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2nd try

EXTRA HOLIDAYS®
VACATION TIME LISTING AGREEMENT
We want to be your last choice! This rental program has been designed as your last “non-vacation” option. Timeshares are purchased for vacationing; an opportunity to enjoy special moments with family and friends. The first choice should always be to use or exchange your vacation reservation every year. And, of course, you always have the option of letting a friend or relative use your vacation reservation if you are unable to do so. Your last choice should be to rent your vacation. However, we know that vacations are not always possible, and if you can’t use all or part of your vacation reservation this year, Extra Holidays® can assist you.
The Extra Holidays® Vacation Time Listing Program (the “Program”) has been designed to try to provide you with some income for your unused vacation reservation. This is not a “get rich quick” program and you are not excused from your financial obligations to your association, but rather this is a service provided to help prevent any vacation from going unused. JUST READ, SIGN & RETURN THIS AGREEMENT. IT’S THAT SIMPLE… Complete the blank sections below, indicating your name, address and contact information, as well as the information regarding the vacation reservation you wish to place in the Program. Be sure that ALL owners sign where indicated. Mail the completed and signed Agreement to: Extra Holidays®
Attention: Vacation Time Listing Program
8427 South Park Circle, Ste. 500
Orlando, FL 32819 We will place your vacation reservation indicated below in the Program according to the season and unit classification. Please note: Fixed weeks will retain their original reservation dates, provided no fixed week reservations shall be accepted more than 12 months in advance of the check-in date. Floating weeks will only be accepted into the Program with a confirmed reservation date, provided no floating week reservations shall be accepted more than 12 months in advance of the check-in date. Subject to the above, you may place all or part of your vacation reservation in the Program. We are unable to accept any reservation deposited with an exchange company. You must be current on all maintenance fees and assessments billed and due to your association for calendar year associated with your reservation (“Reservation Year”) in order to be eligible to participate in the Program. In the event that we receive notice of your delinquency, we reserve the right to remove your vacation reservation from the Program. Your priority in the Program will be determined by the date we receive your fully completed and signed Vacation Time Listing Agreement. Incomplete or inaccurate information may result in a delay or inability to include your reservation in the Program. Your placement of the reservation into the Program shall at all times remain subject to any use restrictions, reservation guidelines or cancellation policies imposed upon the reservation by your association. If your vacation reservations (or any part thereof) are rented through this Program, you will receive sixty percent (60%) of the Net Proceeds from the rental. Extra Holidays® must receive contracts a minimum of 30 days prior to date of rental.
Read this Vacation Time Listing Agreement carefully and in full as it contains important information relative to placing your vacation reservation with Extra Holidays® so that the same may be enjoyed by other vacationers. Please note that this Agreement is subject to all of the Terms and Conditions attached hereto and made a part hereof. You must fill out one Vacation Time Listing Agreement per vacation reservation that you want to place up for rent. FILL OUT THIS VACATION TIME LISTING AGREEMENT ONLY IF YOU WANT TO PLACE THE BELOW RESERVATION IN THE PROGRAM. (NOTE: This Agreement will not be accepted unless your Social Security number or Tax Identification number is provided, where applicable.)
ID #/Owner #: ____________________________ ___ E-Mail Address:
Owner Name: _____________________________________ Social Security # ____________________________________
Address ___________________________________________________________________________________________
Street
Check box if ___________________________________________________________________________________________
new address □ City State Zip Code
Home Telephone #: (________)_______________________ Work Telephone #: (_________)_______________________
I/We are the owners of the following vacation reservation and I/we represent that we have read and understand this Agreement and all of the Terms and Conditions attached hereto. I/We hereby request to put the following vacation reservation in the Extra Holidays® Vacation Time Listing Program. (Note: Reservations accepted in the Program shall be subject to the above stated limitations. We are unable to accept reservations deposited with an exchange company. Incomplete or incorrect information may result in the inability to include your vacation reservation in the Program. Use additional paper if necessary.)
Resort Name:
Conf#______________ Week # ____ Unit Type:___________ Arrival: ___/___/____ Departure___/___/___
Owner’s Signature_______________________________________________ Date ___________________________
Owner’s signature represents Owner’s acceptance of this Vacation Time Listing Agreement and all of its Terms and Conditions.
Please retain a copy of this Agreement for your records. This Agreement shall only become effective upon acceptance by Extra Holidays. If your rental listing is accepted, Extra Holidays will notify you via postcard/letter sent U.S. mail. The acceptance postcard/letter, together with this executed Agreement, shall together constitute the full and final Agreement for your rental
 

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Extra Holidays Terms and Conditions part 1

EXTRA HOLIDAYS® VACATION TIME LISTING AGREEMENT - TERMS AND CONDITIONS
The undersigned Owner hereby authorizes Extra Holidays® and its affiliates or agents (hereinafter collectively referred to as “EH”) to rent Owner’s vacation reservation, on Owner’s behalf based upon the following terms and conditions:
1. TERM. This Agreement shall be in effect only from the date of acceptance by EH through the Reservation Year. If Owner desires to participate in the Program in any subsequent year, Owner must enter into a new Vacation Time Listing Agreement for that year. Unless sooner terminated pursuant to the terms of this Agreement, this Agreement and all rights and obligations hereunder shall be deemed terminated on the last calendar day of the Reservation Year. Notwithstanding anything to the contrary, EH may terminate this Agreement at any time with notice to Owner.
2. PURPOSE. By executing this Agreement, Owner is licensing the use of the vacation reservation (and all associated reservations) indicated herein to EH. It is understood and agreed that during the period of this Agreement, EH shall have the exclusive right to occupy and/or list the reservation (in full or in part) indicated herein in its sole and absolute discretion. This Agreement shall govern the rights and obligations of the parties hereto.
3. PRIORITY. Owner’s eligibility date for participation in the Program will be determined based upon the date EH receives the Owner’s signed Vacation Time Listing Agreement. Owner understands that Vacation Time Listing Agreements will be accepted based on supply and demand by EH, as determined by EH in its sole discretion. Owner hereby further understands that the probability of placing their vacation reservation is greatly influenced by how early they list it with EH. EH shall, in its sole discretion, determine the total number of reservations that may be placed in the Program, and it is specifically understood and agreed that the total number of reservations may be subject to increase or decrease from time to time in EH’s sole and absolute discretion. Owner understands and agrees that nothing contained herein is intended to prohibit EH from renting any reservation that may be owned by and acting as rental agent for (i) EH or any of its affiliates, (ii) the developer of the Resort, (iii) any other owners at the Resort pursuant to separate agreements, or (iv) any other person or entity. In determining which unit in the Program to assign to any particular rental guest, EH will use commercially reasonable efforts to use the following criteria, listed in order of importance: (1) the preference of the rental guest, (2) rotation between all units within each unit classification, and (3) presence or absence of any additional restrictions on the use of the unit. After satisfying the preceding criteria, EH will assign units giving priority, to the extent applicable, first to delinquent inventory rented pursuant to separate agreement with the association, then to the units owned by the association, then to individual (non-delinquent) units whose owners have executed Vacation Time Listing Agreements or other rental agreements with EH, and then to developer owned units or units owned by EH or its affiliates.
4. POINTS/WEEKS PLACED IN THE PROGRAM. Owner may place all or part of any vacation reservation that they own in the Program. Fixed weeks will retain their original reservation dates. Floating weeks and Club Wyndham Pluspoints will only be accepted in the Program with a confirmed reservation. No fixed or floating week reservations will be accepted more than 12 months in advance of the check-in date and no Club Wyndham Plusreservation will be accepted more than 10 months in advance of the check-in date. It is Owner’s responsibility to check the status of the reservation placed in the Program and to confirm the reservation of any floating week or Club Wyndham Pluspoints, and Owner represents and warrants that any vacation reservations indicated in this Agreement are available on the dates indicated for rental through the Program. Owner further acknowledges that all reservations shall, at all times, remain subject to any use restrictions, reservation guidelines or cancellation policies imposed upon the reservations by Club Wyndham Plusor its association, including without limitation the Club Wyndham Pluscancellation policies regarding the forfeiture of points for reservations cancelled 14 days or less from the date of arrival.
5. STATUS OF RENTAL. In the event that EH feels it is unable to place Owner’s vacation reservation, or EH elects, in its sole and absolute discretion, not to list the Owner’s vacation reservation, EH will attempt to notify the Owner as soon as reasonably possible. Notwithstanding, it shall be the Owner’s responsibility to check the status of the reservation in the Program with EH, and EH shall have no liability hereunder for any failure to notify Owner of the status of their rental (whether or not the vacation reservation have been rented). Further, if Owner elects to withdraw or cancel this Agreement pursuant to paragraph 6, it shall be Owner’s sole responsibility to check the status of the reservation prior to vacation exchange banking (with companies such as RCI or II) and/or confirm the check-in of the reservations made with Club Wyndham Pluspoints.
6. EXCLUSIVE RIGHT. By entering into this Agreement, Owner is forfeiting the right to employ a rental agent, commit the vacation reservation to any exchange company or to use the vacation reservation, unless Owner notifies EH in writing at any time prior to EH’s completion or placement of the vacation reservation listed hereunder that Owner wishes to (i) withdraw one or more (but less than all) vacation reservations listed herein, or (ii) cancel this Agreement and withdraw all reservations listed herein. All notices to EH required hereunder are to be sent to EH at the address listed for EH on the reverse, or such other address as EH may from time to time advise. All notices of withdrawal or cancellation hereunder shall be deemed to be delivered upon actual receipt by EH, and the risk of lost, mis-delivered or undelivered mail shall rest solely with the Owner. Owner understands and expressly agrees that their rights to withdraw or cancel hereunder shall be subject to and to the extent that there are no confirmed reservations for the Owner’s reservation.
7. REPRESENTATIONS. OWNER HEREBY ACKNOWLEDGES THAT ITS PARTICIPATION IN THE PROGRAM IS VOLUNTARY AND EH HAS MADE NO REPRESENTATIONS, PROMISES OR GUARANTEES NOR ARE THE SAME BEING MADE HEREUNDER REGARDING (I) WHETHER OR NOT A RENTAL OF OWNER’S VACATION RESERVATION, IN FULL OR IN PART, WILL RESULT, (II) THE NUMBER OF RESERVATIONS PLACED IN THE PROGRAM THAT WILL BE RENTED, (III) ANY PARTICULAR RENTAL RATES, OR (IV) OWNER’S NET PROCEEDS, IF ANY.
 

rrlongwell

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Terms and Conditions part 2

8. PROGRAM TERMS. EH will use commercially reasonable efforts to rent Owner’s reservation, consistent with EH’s policies and procedures, and subject to the terms of this Agreement. EH will utilize numerous marketing outlets to obtain the highest rental rate possible based on season, unit type and other competitive factors. Owner understands and agrees that all marketing efforts shall be directed towards the Program and nothing herein contained is intended to limit or restrict EH’s ability to rent other reservation participating in the Program. EH shall, in its discretion, rent any vacation reservation placed in the Program on any length of stay basis, whether daily, weekly or otherwise, subject to the maximum available term of said reservation. Owner understands and agrees that EH shall have no liability whatsoever hereunder for any reservation (or part thereof) not rented. EH reserves the right to accept or decline bookings and to establish rates and conditions for the Program, and Owner acknowledges and agrees that EH’s decisions regarding the Program shall be final and in EH’s sole and absolute discretion.
9. WEAR & TEAR. Owner understands and agrees that EH shall have no liability for any wear and tear on a unit, the furnishings and/or the Resort resulting from the Program, unless the same arises from the gross negligence or willful misconduct of EH, its employees or agents. The placed vacationers shall be solely responsible for any damage or loss to a unit, furnishings or the Resort, other than normal wear and tear, and EH represents and warrants that, on or before check-in, it shall collect a security deposit from each vacationer to attempt to safeguard from loss.
10. SALE OR TRANSFER. In the event Owner sells or transfers their ownership in their reservation, the sale shall be made subject to this Agreement and Owner shall immediately notify EH of said sale or transfer. The Owner agrees to disclose the existence of this Vacation Time Listing Agreement to any prospective purchaser. This Agreement shall be binding and inure to all assignees, transferees, successors and heirs of Owner for the term of this Agreement.
11. INDEMNIFICATION. Owner shall indemnify, defend and hold EH, its officers, employees and agents harmless from and against any losses or damages, claims, demands or liability (including attorneys costs and fees) which may arise or be incurred as a result of this Agreement or any failure, default or breach by Owner of its representations, warranties or obligations contained in this Agreement. EH may withhold all or a portion of Owner’s Net Proceeds, if any, to offset or partially offset any indemnification obligation of Owner.
12. CLEANING SURCHARGE FOR SPLIT WEEK AND PARTIAL WEEK RENTALS. In the event that EH is successful in placing Owner’s reservation with another vacationer on a daily or partial week basis, Owner will be responsible for any and all additional housekeeping expenses incurred as a result of readying the unit for the next occupant. Owner hereby authorizes any such expenses to be debited from its Net Proceeds due pursuant to paragraph 13.
13. PLACEMENT NET PROCEEDS. Provided that EH is able to place Owner’s week/points with another vacationer, Owner shall be entitled to receive sixty percent (60%) of the Net Proceeds received from the vacationer. For all purposes, Net Proceeds shall be defined as the total revenues collected for each rental (including any cancellation fees collected), less all applicable credit card and merchant bank fees and charges, and exclusive of the sales, lodging and/or other use taxes collected from the rental guest. EH shall receive forty percent (40%) of the Net Proceeds to compensate EH for the services provided hereunder this Agreement, including without limitation the cost of reservations, accounting, and marketing. EH is responsible for paying any applicable travel agent commissions. Any occupancy tax and/or service charges shall be the responsibility of the vacationer who has rented and traveled under the vacation reservation. EH will collect such occupancy taxes and/or service charges from such vacationers and shall remit the applicable state and local sales, tourist and other taxes and fees to the proper authorities on behalf of Owner.
14. PAYMENT OF NET RENTAL PROCEEDS. Owner’s Net Proceeds will be paid to Owner within forty-five (45) days following check-out of the placed vacationer. Owner is solely responsible for any and all income taxes that may be due as a result of Owner’s receipt of the Net Proceeds. EH does not render tax advice, and it is recommended that Owner consult an income tax professional to ensure compliance with any and all applicable tax laws. For U.S. residents only, EH will provide a form 1099, where applicable under EH’s policies.
15. CANCELLATION BY PLACED GUEST. In the event of a cancellation by a placed vacationer less than three (3) days before the occupancy date, EH may, in its discretion, retain any advanced payment paid by the vacationer and disburse to Owner as liquidated damages sixty percent (60%) of any such payment retained (excluding taxes and credit card charges, if applicable), provided however that Owner’s reservation are not re-rented by EH, space-banked, used by Owner, or otherwise occupied with permission of Owner. Owner shall receive no payment for any cancellation by a placed vacationer made three (3) or more days before the occupancy date, irrespective of whether or not EH retains all or a part of any advance payment or deposit.
16. LOSS OF RENTAL RIGHTS. Notwithstanding anything to the contrary stated herein, it is expressly understood that Owner must be current on all maintenance fees and assessments billed and due to the association for the Reservation Year in order to participate in the Program. In the event that EH receives notice of any delinquency or default in the payment of any money owed to the Resort or its association by Owner, EH reserves the right to remove from the Program all vacation reservations deposited by Owner and, subject to applicable law, Owner will not be entitled to any rental proceeds due hereunder. Further, Owner will not be entitled to any refund or reimbursement for any loss of rental rights hereunder.
17. PROPER AUTHORITY. Owner hereby warrants that Owner owns the vacation reservation described herein, or is properly authorized to enter into this Agreement and to perform the obligations under this Agreement on behalf of all persons in title of the vacation reservation and that Owner has full authority to place the reservation in the Program.
18. NO MEMBERSHIP. This Agreement is for the one-time rental of Owner’s reservation for the Reservation Year, it is not an exchange, and nothing hereunder shall purport to give Owner any rights of membership in or to Club Wyndham Plusor any other programs offered by either EH or its affiliates.
19. COMPLETE AGREEMENT. This Agreement constitutes the sole, full and complete agreement between the parties with respect to the subject matter contained herein, and it supersedes all discussions, statements or representations of any type or nature relating to the same. The paragraph headings are used for convenience only and shall not be considered in construing this Agreement. In the event that any provision of this Agreement shall be prohibited by or invalid under any applicable law, it shall be deemed modified to conform to the minimum requirements of such law, or, if for any reason it is not deemed so modified, it shall be prohibited or invalidated only to the extent of such prohibition or invalidity without the remainder thereof or any other provision of this Agreement being prohibited or invalidated. This Agreement may be signed in counterparts.
20. QUESTIONS AND REQUESTS FOR INFORMATION. All questions and requests for information that may arise in connection with this Agreement should be directed in writing to Extra Holidays® at the address listed on the front of this Vacation Time Listing Agreement, via email at ownerrentals@extraholidays.com, via facsimile at (951) 344-8227, or Owner may contact EH by telephone at (800) 446-1860 Option # 2.
 

am1

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You have been given a lot of good advice here but also some bad advice.

Most importantly the sales person just wants to make a sale. We can all agree on that. Once he makes his sale and the recession period is over you may not hear from him. Will this program be in the contract? Most importantly, with all the previous scams and half-truths why would you expect this one to be any different. Wyndham has a very good way to play to peoples greed.

If you want to go ahead and buy more retail points feel free to do that. There are a lot of advantages to it If you have over 1 million points but want more do not let anyone stop you.
 

rrlongwell

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You have been given a lot of good advice here but also some bad advice.

Most importantly the sales person just wants to make a sale. We can all agree on that. Once he makes his sale and the recession period is over you may not hear from him. Will this program be in the contract? Most importantly, with all the previous scams and half-truths why would you expect this one to be any different. Wyndham has a very good way to play to peoples greed.

If you want to go ahead and buy more retail points feel free to do that. There are a lot of advantages to it If you have over 1 million points but want more do not let anyone stop you.

Thank-you, I am marching to a different drummer. Unike a number of posters, I am engaged in multi-generational planning. This concept, as it relates to timeshares is betting on capital apprication over the generations and a strenghting of the rental market. The issue for me is, what is best for the next two generations and no, they will not get stuck with the maintance fees etc.
 

vacationhopeful

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I am ....(... renting to family and friends plus our own high usage absorbs all of my points, which to date, has been the case, I just do not have enough points to commit to this project at this time.
Robert,
This your multi-generational plan is to RENT to family and friends?

Sounds just like my plan. I too have family and friends. We must be related, per Kevin Bacon.
 

bnoble

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betting on capital apprication over the generations
Capital appreciation of a timeshare? Purchased from the developer? I'm willing to bet that you could wait until the heat death of the Universe, and you still won't see that.

and a strenghting of the rental market.
I think it is fair to assume that rents will increase. Will they increase faster than MFs? Maybe, maybe not. If you are sure they will, you must know something I don't.

no, they will not get stuck with the maintance fees etc.
So who pays those? Your estate? The maintenance fee fairy?

You are spending a non-trivial amount of money on this venture. I hope it works out for you. This is not the avenue I would pursue to invest for my children and grandchildren, but what do I know? Apparently, not much.
 

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RRLONGWELL IS ON MY IGNORE LIST

Population 1
 

am1

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Capital appreciation will not happen. Multi generation planning is good but the Wyndham timeshares will continue to age, new timeshares will require inflated amount of points.

40% off the top with liability if it goes unrented is a lot.
 

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Robert,

I think what most people here are trying to say is even though this has worked well for you,for most everyone else resale is the way to go. Congrats on your plans but it just doesn't seem like a good idea for me or some other people who are posting here.

Jason
 

rrlongwell

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Robert,

I think what most people here are trying to say is even though this has worked well for you,for most everyone else resale is the way to go. Congrats on your plans but it just doesn't seem like a good idea for me or some other people who are posting here.

Jason

I am sure you are right, but for my mother's and step father's estate, I would not even consider this. Anyone that does not have a basis to start would indeed be foolish to go a partial retail route, even considering the PIC Option. I have a contractual right to add one max. point PIC resale to my account for the balance of the 90 days, but I do not wish any additional points at this time. The growth of traditional properties in the family group is expanding well and this, I would strongly suggest, take priority over any developer and/or re-sale purchase. Just to answer one of the smart comments, yes, if the non-timeshare activities go well, I fully expect the Estate will be more than able to cover any red ink from the timeshares and the heirs can just have fun using the vacations. This may very well be the end result if Wyndham keeps going the way it is going. If someone is in Wyndham for just financial reasons, I would strongly suggest dumping their timeshare if the market for Wyndham firms up. The get out point per timeshare for this group, I would put at $3,000 plus closing costs for 154,000 contracts or better. For under 154,000 point contracts, get out for closing costs paid by the buyer. If you are in the timeshares for profit game, unless you a able to withstand a prolonged period of red ink, get out at any cost.
 
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SOS8260456

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I am sure you are right, but for my mother's and step father's estate, I would not even consider this. Anyone that does not have a basis to start would indeed be foolish to go a partial retail route, even considering the PIC Option. I have a contractual right to add one max. point PIC resale to my account for the balance of the 90 days, but I do not wish any additional points at this time. The growth of traditional properties in the family group is expanding well and this, I would strongly suggest, take priority over any developer and/or re-sale purchase. Just to answer one of the smart comments, yes, if the non-timeshare activities go well, I fully expect the Estate will be more than able to cover any red ink from the timeshares.

Well, it sounds like you have a very very unique and complex situation. Plus I envy you the amount of time you seem to have to devote to this issue. How many different Wyndhams have you visited in the last several months? and now you are up here in Shawnee?
 

rrlongwell

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Well, it sounds like you have a very very unique and complex situation. Plus I envy you the amount of time you seem to have to devote to this issue. How many different Wyndhams have you visited in the last several months? and now you are up here in Shawnee?

We primarily use Shawnee Mountain, Skyline Tower, National Haror, and Old Town Alexandria. Occasionally, Williamsburg. Family and friends tend to use Atlantic City, Williamsburg, Las Vagas, Indio, and Sedona.

No, I was their over the weekend. My wife bought this thing for my birthday. We tend to go 2 weekends per month as a target. The resorts are within a couple of hours drive time for us.

For those that follow Wyndham, you might want to keep an eye on the recent WM thread. I will spare folks what the Shawnee Mountain Sales Staff said about upcoming changes to Worldmark.
 
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DrBopp

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I am sure you are right, but for my mother's and step father's estate, I would not even consider this. Anyone that does not have a basis to start would indeed be foolish to go a partial retail route, even considering the PIC Option. I have a contractual right to add one max. point PIC resale to my account for the balance of the 90 days, but I do not wish any additional points at this time. The growth of traditional properties in the family group is expanding well and this, I would strongly suggest, take priority over any developer and/or re-sale purchase. Just to answer one of the smart comments, yes, if the non-timeshare activities go well, I fully expect the Estate will be more than able to cover any red ink from the timeshares and the heirs can just have fun using the vacations. This may very well be the end result if Wyndham keeps going the way it is going. If someone is in Wyndham for just financial reasons, I would strongly suggest dumping their timeshare if the market for Wyndham firms up. The get out point per timeshare for this group, I would put at $3,000 plus closing costs for 154,000 contracts or better. For under 154,000 point contracts, get out for closing costs paid by the buyer. If you are in the timeshares for profit game, unless you a able to withstand a prolonged period of red ink, get out at any cost.
RR,

I was pitched a similar program to have free maintenance fees paid when I visited Olde Town Alexandria last October. Sounded good in theory,but I just don't see how these people would be motivated to make sure that I maximize my profits. They get 40% of whatever they rent the timeshares for with nothing invested. Their profit is unlimited. OTOH, I would have to exceed my investment to profit, but I would not have any control over what is rented, for how long or for how much. It states as much in the contract. Anytime Wyndham rents anything, they make 40%. If what is left is not enough to pay my MF and/or recoup my initial investment, then I may have to come out of my pocket for more money. Too risky!!!! Doesn't sound too good to me.

Gordon
 

rrlongwell

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RR,

I was pitched a similar program to have free maintenance fees paid when I visited Olde Town Alexandria last October. Sounded good in theory,but I just don't see how these people would be motivated to make sure that I maximize my profits. They get 40% of whatever they rent the timeshares for with nothing invested. Their profit is unlimited. OTOH, I would have to exceed my investment to profit, but I would not have any control over what is rented, for how long or for how much. It states as much in the contract. Anytime Wyndham rents anything, they make 40%. If what is left is not enough to pay my MF and/or recoup my initial investment, then I may have to come out of my pocket for more money. Too risky!!!! Doesn't sound too good to me.

Gordon

Great decision at Old Town. When I got the pitch there, the units were allegedly rented through an Attorney that rented them to European Cutomers (England). Impressive pitch, he would not let review it but he had a large binder behind him that were allegadely his customers. The major point here was that the rentals were chanelled through his wife (Attorney) directly to the European Market. This was to much for me. I definetly passed on that verison.
 
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jjmanthei05

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Great decision at Old Town. When I got the pitch there, the units were allegedly rented through an Attorney that rented them to European Cutomers (England). Impressive pitch, he would not let review it but he had a large binder behind him that were allegadely his customers. The major point here was that the rentals were chanelled through his wife (Attorney) directly to the European Market. This was to much for me. I definetly passed on that verison.

Why don't you want to go with "I have someone in Europe\over seas looking to come here. Will you take a cashier's check?" That doesn't sound like a scam at all. :hysterical:

Jason
 

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Why don't you want to go with "I have someone in Europe\over seas looking to come here. Will you take a cashier's check?" That doesn't sound like a scam at all. :hysterical:

Jason

I would be a little concerned that Wyndham would think I was helping a employee use their facilities and for personel gain for his wife, the payments would go to the wife directly and not through any Wyndham account. The rest of the processing he makes the arrangements directly with the wife, then she finds customer etc. I did not think much of paying his wife, then wife gets customer and sets the actual amount I would get after the fact.
 
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