Advice Needed - Star Island Timeshare

[anotherkarl]

Hi All,
I'm new to timeshares in general but have done some research online recently and ended up here I have the opportunity to get a Star Island (STR) timeshare in Kissimmee, Florida (near Disneyworld) for free. They pay closing costs and I pay $50 transfer fee to the resort.

Annual
3BR lockout
wk 28
Fees: ~$900/yr (includes MF and tax)
Exchange: II

My goals are to use the resort as well as trade for others. Same place, every year, forever doesn't seem like a reasonable expectation.

Anyways, I hope for some advice on:

1. Is this place about to go under or get hit with special assessments? E.g. bad management or whatever...

2. The MF & tax seems high at $900 to me. Am I right or wrong? Is something not good happening there?

3. Is this a good week/resort/unit I can trade on II reasonably?

4. Is this a good week/resort/unit I can reasonably expect to give away if I don't want it anymore? I love to travel but I can't be certain 10/15/25 yrs later...

The 'never ending' thing bothers me as who knows what can happen in the future. I also wouldn't want to pass on a burden to my kids either. I figure if this is a good week/resort/unit then someone will want it in the future.

Is this a good deal, piss poor, or just average?

If anyone has some advice, I would much appreciate it.

Thanks,
Karl

 

[ronparise]

Hi All,
I'm new to timeshares in general but have done some research online recently and ended up here I have the opportunity to get a Star Island (STR) timeshare in Kissimmee, Florida (near Disneyworld) for free. They pay closing costs and I pay $50 transfer fee to the resort.

Annual
3BR lockout
wk 28
Fees: ~$900/yr (includes MF and tax)
Exchange: II

My goals are to use the resort as well as trade for others. Same place, every year, forever doesn't seem like a reasonable expectation.

Anyways, I hope for some advice on:

1. Is this place about to go under or get hit with special assessments? E.g. bad management or whatever...

2. The MF & tax seems high at $900 to me. Am I right or wrong? Is something not good happening there?

3. Is this a good week/resort/unit I can trade on II reasonably?

4. Is this a good week/resort/unit I can reasonably expect to give away if I don't want it anymore? I love to travel but I can't be certain 10/15/25 yrs later...

The 'never ending' thing bothers me as who knows what can happen in the future. I also wouldn't want to pass on a burden to my kids either. I figure if this is a good week/resort/unit then someone will want it in the future.

Is this a good deal, piss poor, or just average?

If anyone has some advice, I would much appreciate it.

Thanks,
Karl

1) I dont have any info on this, and my crystal ball is broken

2) Mf for a lockoff seems reasonable to me if I look at it as two units (and trade it as two units

3) I dont buy to trade, I cant say, My criteria is...can I rent this thing at a profit if I dont use it myself? Star Island wouldnt pass my test

4) If you do your homework and decide that its a good deal, chances are you will be able to find someone in the future that agrees with you. Check ebay for completed sales..These come up frequently.

The never ending thing bothers me too, but I subscribe to the greater fool theory. If I am foolish enough to buy it, there will probably be someone just as foolish (or more so) that will take it off my hands

Id call it average

 

[anotherkarl]

Hi Ron,
Thanks for your comments. That's sound advice.

I've decided not take the deal. I'm sure there's better out there if I decide to invest more time into this.

Cheers,
Karl

 

[pkyorkbeach]

This is how I received my Star Island in 2010. Beautiful resort. I have a three bedroom lockout. Enjoyed it in 2010 and we are planning on going in 2012. Just received the MF bill. No regrets...Can trade with RCI too.

 

[kenojg]

looks like a great resort

at least for me ... 9 tennis courts and swimming pools and pitching greens lake.... but I have picked up a few last call rentails ... getting the 2 bdrms for $200 a week.. so for at least now , maybe that is a better way than the maintence fee,,, if fact heading there 12/2 for two weeks.

any hints or rewiews ... I can rewiew when I get back..