Ebay - CWP for Ocean Blvd for 1.103Million points - 10 cent bid

[vacationhopeful]

And which Tugger has bid on this? Current bid is 10 cents for 1,103,000 points in Ocean Blvd - with the Myrtle Beach ARP.

Not interested as I brought a 1MM point contract on Royal Vista earlier this year. Plus, I have seen all those 1,000,000 point CWA contracts which keep showing up on ebay.

Closing costs are $449 plus your winning bid.

 

[amycurl]

Ron, let us know if you snag this, m'kay?

 

[MFT]

I don't care for "ResortHoldings" postings on e-bay, because they don't spell out the contract anniversary date, when are the points available, nor when MF starts. Consider this auction as an example. What if all the 2013 points are used, and the buyer has to start paying MFs right off. The buyer could end up spending $4000 this year without any points to use.

Seller has only 23 ratings, and so obviously doesn't do many TS sales (that's over a period of around a year!).

Whoever bid $0.10... may find themselves paying a lot of MFs for 2013, without any points.

I had a question on another one of their auctions, and sent an e-mail message. I sent it 2 days prior to closing, and they never responded. I'd avoid this seller.

 

[lcml11]

And which Tugger has bid on this? Current bid is 10 cents for 1,103,000 points in Ocean Blvd - with the Myrtle Beach ARP.

Not interested as I brought a 1MM point contract on Royal Vista earlier this year. Plus, I have seen all those 1,000,000 point CWA contracts which keep showing up on ebay.

Closing costs are $449 plus your winning bid.

This is a great contract if someone likes Myrtle Beach in the Summer. Rumor is that some do.

 

[vacationhopeful]

Robert,
You should cross over to the dark side and bid on it. I email the seller and first usage is 2014 ... and figure Wyndham would take their usual 10 weeks to transfer ownership before MFs would hit.

You don't have to tell us if you bid on it. There was a cancelled bid at $110 plus change. You need to snipe it for more than $650+.

 

[lcml11]

Robert,
You should cross over to the dark side and bid on it. I email the seller and first usage is 2014 ... and figure Wyndham would take their usual 10 weeks to transfer ownership before MFs would hit.

You don't have to tell us if you bid on it. There was a cancelled bid at $110 plus change. You need to snipe it for more than $650+.

Already have enough Myrtle Beach, Towers on the Grove, Westwinds, and Seawatch Plantation I will defer to Ron on this one.

 

[vacationhopeful]

Went for $1224 - the sniper won it against the bidder who was trying to type like a madman. Losing bidder should have just bid his MAXIMUM.

 

[lprstn]

MFs too rich for my blood though. Glad someone snagged it.

 

[MFT]

Robert,
You should cross over to the dark side and bid on it. I email the seller and first usage is 2014 ... and figure Wyndham would take their usual 10 weeks to transfer ownership before MFs would hit.

You don't have to tell us if you bid on it. There was a cancelled bid at $110 plus change. You need to snipe it for more than $650+.

So new buyer doesn't get the points til 2014, but pays about half a year's MFs? Wow, add on an extra $3000+ to the price with that deal...

 

[ronparise]

So new buyer doesn't get the points til 2014, but pays about half a year's MFs? Wow, add on an extra $3000+ to the price with that deal...

Thats still a good deal

For less than $5000, (purchase price, 2013 mf and closing) the buyer gets over 1 million points, at less than a half a penny a point

The buyer can make their summer 2014 reservations as soon as the contract shows up in their account, or

The buyer can credit pool the 2014 points and the 2015 points and start making reservations immediately

If it was me, Id take the credit pool route, make 2 million points worth of reservations and rent them. I think I could generate $10000 cash almost immediately which is double what it cost me to buy this account...Any time I can double my money in a couple of months...Im in

 

[vacationhopeful]

Ron,
That location is the best mid-Atlantic summer beach area the WYNDHAM owns. With regional ARP, the owner has a shot at getting 3bdr Cottage style vacation every summer for a month for the MFs. OR a month in a 2/2 condo for those weeks.

And it is again on ONE deed. Those pesky $299 transfer fees zaps a 126K point deed transfer - same $299 for a 1.1MM points deed is less offensive.

 

[CO skier]

...
If it was me, Id take the credit pool route, make 2 million points worth of reservations and rent them. I think I could generate $10000 cash almost immediately which is double what it cost me to buy this account...Any time I can double my money in a couple of months...Im in

This is reminiscient of Quantitative Easing -- money out of thin air. In the timeshare world, though, the Maintenance Fee bill eventually becomes due. The only way this scheme would work would be if the contract could be sold to an unsuspecting buyer who did not realize that they would be responsible for two year's of MF for the credit pooled points that had already been used.

Otherwise the "double" becomes a loss of $7393

$10000 rental income
-$ 1673 (Bid + closing cost + transfer fee)
-$ 3144 (6 months 2013 MF)
-$ 6288 (2014 MF for credit pooled points)
-$ 6288 (2015 MF for credit pooled points)
______
-$ 7393

Even if $20000 could be made in rental income, after taxes on the profits and the hassle-factor for managing all the rental reservations and buying/selling the contract, it hardly seems worth the effort.

If the buyer does not examine the estoppel before paying for this contract, they will be in for an unpleasant surprise.


On a "points are points" comparison, a recent 703K Club Wyndham Access contract that sold for $1381 plus closing cost and transfer fee, with 703K of the 2013 points available, was a much better deal.

 

[vacationhopeful]

Using ARP and booking full point value reservations for rental does NOT necessarily mean a PROFIT. You have to know the niche market you are trying to hit ... July 4th Week is different than July 4th Weekend (when the 4th is on Sat or Sun). Weeks in July MAY be better to rent in the Northeast as school year ends in mid-June; in the South, June rents better than August as sports & schools start in mid July.

However, there are many Wyndham owners who are NOW trying to get some cash to cover MFs. They are booking PRIME weeks and CAN not go on vacation. Job lost, no vacation time, no/expensive transportation, kids schedules, family sickness ==> any of hundreds of situations where taking any money is better than NO money. I particularily like when friends CANCEL coming with you; whether a couple of days or weeks beforehand, YOU have the bigger unit or extra unit which are you are paying for. Many of these bookings will NOT be cancelled & rebooked to get the discounted points values. Hence, those owners will NOT cover costs nor are their rentals exposed to the full market place.

Ron has VIP status; I would suspect most of his rentals are inside the 60 day window EXCEPT for event bookings. With good (ongoing) advertising in place and a solid reputation on the internet - he could cover his MFs, costs, GCs and MAKE a PROFIT. But you have to be available and online --- not offshore fishing.

 

[ronparise]

This is reminiscient of Quantitative Easing -- money out of thin air. In the timeshare world, though, the Maintenance Fee bill eventually becomes due. The only way this scheme would work would be if the contract could be sold to an unsuspecting buyer who did not realize that they would be responsible for two year's of MF for the credit pooled points that had already been used.

Otherwise the "double" becomes a loss of $7393

$10000 rental income
-$ 1673 (Bid + closing cost + transfer fee)
-$ 3144 (6 months 2013 MF)
-$ 6288 (2014 MF for credit pooled points)
-$ 6288 (2015 MF for credit pooled points)
______
-$ 7393

Even if $20000 could be made in rental income, after taxes on the profits and the hassle-factor for managing all the rental reservations and buying/selling the contract, it hardly seems worth the effort.

If the buyer does not examine the estoppel before paying for this contract, they will be in for an unpleasant surprise.


On a "points are points" comparison, a recent 703K Club Wyndham Access contract that sold for $1381 plus closing cost and transfer fee, with 703K of the 2013 points available, was a much better deal.

If I were to do this and then sell the contract. the estopple that wyndham prepares wont help the new buyer.

It will say that there are no points in the current year, but it dosent speak to future years.

But its not my intent to sell off stripped contracts. At the first of the comming year Ill credit pool the 2016 points and use them to pay 2014 maintenance fees. I realize what Im doing is borrowing future years points. and sooner or later they will have to be paid. But I intend to die owning this stuff. Wyndham will have to deal with my estate

 

[lcml11]

Using ARP and booking full point value reservations for rental does NOT necessarily mean a PROFIT. You have to know the niche market you are trying to hit ... July 4th Week is different than July 4th Weekend (when the 4th is on Sat or Sun). Weeks in July MAY be better to rent in the Northeast as school year ends in mid-June; in the South, June rents better than August as sports & schools start in mid July.

However, there are many Wyndham owners who are NOW trying to get some cash to cover MFs. They are booking PRIME weeks and CAN not go on vacation. Job lost, no vacation time, no/expensive transportation, kids schedules, family sickness ==> any of hundreds of situations where taking any money is better than NO money. I particularily like when friends CANCEL coming with you; whether a couple of days or weeks beforehand, YOU have the bigger unit or extra unit which are you are paying for. Many of these bookings will NOT be cancelled & rebooked to get the discounted points values. Hence, those owners will NOT cover costs nor are their rentals exposed to the full market place.

Ron has VIP status; I would suspect most of his rentals are inside the 60 day window EXCEPT for event bookings. With good (ongoing) advertising in place and a solid reputation on the internet - he could cover his MFs, costs, GCs and MAKE a PROFIT. But you have to be available and online --- not offshore fishing.

Unless you have a laptop and a mobil hot spot box.

 

[cyseitz]

But its not my intent to sell off stripped contracts. At the first of the comming year Ill credit pool the 2016 points and use them to pay 2014 maintenance fees. I realize what Im doing is borrowing future years points. and sooner or later they will have to be paid. But I intend to die owning this stuff. Wyndham will have to deal with my estate

Can you tell a little more on how you are going about using pooled points to pay for maintanance fees.

 

[RX8]

Can you tell a little more on how you are going about using pooled points to pay for maintanance fees.

My guess is he is going to use the rental income he earns from the pooled 2016 points to pay the 2014 MF.

 

[Sloane S]

Can you tell a little more on how you are going about using pooled points to pay for maintanance fees.

I'm assuming he means use the rental income to pay the maintenance fees. Exchanging your points toward MFees is a poor value use.

 

[ronparise]

Can you tell a little more on how you are going about using pooled points to pay for maintanance fees.

...........rentals generate cash which is used to pay maintenance fees

 

[cyseitz]

Okay I understand.

I guess when you said you were pooling point from 2015 and 2016 I got thrown off because I didn't realize you could do that. My immediate thought was that you were using your points to pay for maintenance fees and last time I checked that was not worth it.

 

[vacationhopeful]

Okay I understand.

I guess when you said you were pooling point from 2015 and 2016 I got thrown off because I didn't realize you could do that. My immediate thought was that you were using your points to pay for maintenance fees and last time I checked that was not worth it.

Hi cy - Welcome to TUG!

Ron has been hanging around here for a little over 2 years. Didn't own any timeshares at that time - he has been learning. He didn't know a thing about float or fixed or points or event weeks. And he still works FULLTIME (at least we all think he does).

So, please stick around - lots to learn about Wyndham and timesharing in general. It is not HOW MANY Wyndham points you own - it is how much you understand and use the features of timesharing...

 

[cyseitz]

Hi cy - Welcome to TUG!

Ron has been hanging around here for a little over 2 years. Didn't own any timeshares at that time - he has been learning. He didn't know a thing about float or fixed or points or event weeks. And he still works FULLTIME (at least we all think he does).

So, please stick around - lots to learn about Wyndham and timesharing in general. It is not HOW MANY Wyndham points you own - it is how much you understand and use the features of timesharing...

I have been owning a Wyndham timeshare for five years now. I know a lot of the ins and outs, but apparently I have a lot more to learn. I always book in the discount and upgrade period and upgrade whenever I can.

How far in advance can you pool points and when do you do it? I have never considered doing this. I have borrowed points from 2014, but that is as best as I've done.

I have been a member of timeshareforums.com and Wyndham owner's forum, but I have found some info on this forum that has been vitally helpful.

I am glad to have any advice that you all have to offer.

One thing I am curious about if anyone know is how are the VIP benefits going to change in the future for the better or worse.

 

[vacationhopeful]

Depends on your VIP level. I think GOLD is 6 months and Platinum is 9 months into the use year. Official title is Points Credit Pool. Everyone else has to put then onto the POOL BEFORE the USE YEAR begins. $39 fee. Points GOOD for 3 years from depositing; can pull out JUST what you need; No ARP assoicated with points in the pool.

AS for VIP changes (or any Wyndham changes for that matter), owners (and VIPs) seem to be the last to hear. There is a rumor Platinum levels are going UP ... sometime.

PS If you invest $15 into a TUG MEMBERSHIP, you will have access to the reviews of resorts us member's post (some can be very funny with portraying the truth ... funny, if it wasn't a real life week out of their life and vacation time) and if added into the database, gets YOU a 3 month extension on your paid membership. It also gets you access to a "private thread" called Sightenings/Distressed ==> one of my favorites for what other members have found and can be booked. Seems to work better than RCI's ongoing search function.

 

[cyseitz]

PS If you invest $15 into a TUG MEMBERSHIP, you will have access to the reviews of resorts us member's post (some can be very funny with portraying the truth ... funny, if it wasn't a real life week out of their life and vacation time) and if added into the database, gets YOU a 3 month extension on your paid membership. It also gets you access to a "private thread" called Sightenings/Distressed ==> one of my favorites for what other members have found and can be booked. Seems to work better than RCI's ongoing search function.

I did become a member, however; it is still showing me as a guest. I tried to register at the BBS section, but I cannot find the code to complete the registration. Not sure if I'm doing it right or if it just didn't go through.

 

[vacationhopeful]

I did become a member, however; it is still showing me as a guest. I tried to register at the BBS section, but I cannot find the code to complete the registration. Not sure if I'm doing it right or if it just didn't go through.

Code gets emailed to you --- might have gone to SPAM. Look as it is about impossible to get the code resent.

And your VIP level is ....