Flipping of deeds

[dgalati]

Buying then Flipping deeds after using current use year points. Any other Tuggers using this or a similar strategy?

 

[jebloomquist]

It's a great way to get Wyndham to end your membership.

 

[dgalati]

It's a great way to get Wyndham to end your membership.

Not true its a owners right to buy and sell. The current use years points can be used also before giving back to Ovations. Key word was flipping not stripping like the mega renters were doing.

 

[bobbyoc23]

Not true its a owners right to buy and sell. The current use years points can be used also before giving back to Ovations. Key word was flipping not stripping like the mega renters were doing.

Isn't this a risky strategy considering Wyndham doesn't always take back contracts via Ovations? I've read multiple times that it's unpredictable which contracts Ovations will and will not take. You could be stuck with a contract you intended to flip?

 

[Jan M.]

I thought you posted that Wyndham told you that in the future you would have to pay $12 per thousand for the points if you transferred or turned back any deeds or contracts with no points available. Or was that for any points that weren't available for the next use year?

 

[win555]

Buying then Flipping deeds after using current use year points. Any other Tuggers using this or a similar strategy?

Is this like flipping houses where you buy the undervalued ones and then sell at higher price?

 

[dgalati]

I thought you posted that Wyndham told you that in the future you would have to pay $12 per thousand for the points if you transferred or turned back any deeds or contracts with no points available. Or was that for any points that weren't available for the next use year?

Correct Jan Wyndham did tell me they would charge a $12/1000 fee on any negative balances. Ovations will take back a deed and let you use current use year points but Wyndham will not transfer any ownership private sale or Ovations without future use year points.

 

[MaryBella7]

I did Ovations in a January, and they said they were taking it because the points were intact and would not take without the points. Weren’t they cancelling trips booked in the transfer of a deed, so the points would go to the new owner? So I guess you would have to use the points early in the year to flip?

 

[dgalati]

Isn't this a risky strategy considering Wyndham doesn't always take back contracts via Ovations? I've read multiple times that it's unpredictable which contracts Ovations will and will not take. You could be stuck with a contract you intended to flip?

I agree with your statement. I also believe it's much riskier buying up to VIPP at over $100,0000 vs buying resale at under $100 knowing nothing is guaranteed and Club rules or benefits can be changed without notice?

 

[dgalati]

I did Ovations in a January, and they said they were taking it because the points were intact and would not take without the points. Weren’t they cancelling trips booked in the transfer of a deed, so the points would go to the new owner? So I guess you would have to use the points early in the year to flip?

Yes any future trips would be canceled when using Ovations or selling private sale. Ovations letter from 3/2019 attached below. Note all Future use year points have to be available or rental option $(12/1000) is available. I called Ovations today and rep said you can use current years points but any reservations that were not completed will be canceled. Feel free to post your Ovations acceptance letter .

This email is to recap that you are voluntarily agreeing to participate in the Ovation by Wyndham program and understand and agree to the following requirements as we discussed today.

Maintenance Fee: Must be and stay current until process is complete. Any paid fees are not refundable.

Documentation to return inventory: You understand that you will receive by email/mail documentation to return your inventory within 8-10 weeks. These documents must be signed, notarized, and returned within the number of days indicated on the documentation. Please keep in mind the sooner the documentation is returned the earlier the process may be completed. Once the document is received, it may take within 6-8 weeks for documents to be approved and the cancellation to be completed.

Third Party Company Assistance: You understand that retaining counsel or third party company to assist with the Ovation program may disqualify your application.

Title Issues: Discrepancies with owner recorded transfer deeds, issues with chain of title, missing documentation needed to record with deed to return inventory, proof of name changes, estate matters etc. and other changes that were not received by Wyndham Title department, may delay the process until proper documentation is received.

Ownership: You must own contract for at least 12 months

Third Party Financial Institution: Any portion of loan paid using a credit card or any other financial institution (PayPal, bank loan, mortgage equity or other) is of sole responsibility of owner accepting an Ovation option.

Reservations: All reservations will be canceled and points forfeited. You will be able to keep any secured reservation paid with Resort Condominium International (RCI).

New Travel reservations during Ovation process: In the event that you book a reservation during this process your request to return your inventory may be cancelled. In case you use your points/credits with Wyndham Destinations or one of its business partners (Travel, RCI, and others) during the process, your cancelation may be interrupted and you will have to wait until the next use year to participate in the Ovation program, once all points are available.

Point’s/Credit usage: Future year’s points/credits must be unused or reservation must be canceled or point rental option is also available.

Multiple contracts: One acknowledgement per contract is required and must be returned.

Ovation by Wyndham offer: Program and inventory acceptance may change without notice. Any changes in the program, will not impact a case that is in process.

 

[cbyrne1174]

I agree with your statement. I also believe it's much riskier buying up to VIPP at over $100,0000 vs buying resale at under $100 knowing nothing is guaranteed and Club rules or benefits can be changed without notice?

And you cant even get into all the wyndham properties. The high demand worldmark locations have WM owners waitlisted when rooms are cancelled so your changes of getting Fuji, Maui, or Yellowstone (summer) is next to 0%.

 

[dgalati]

And you cant even get into all the wyndham properties. The high demand worldmark locations have WM owners waitlisted when rooms are cancelled so your changes of getting Fuji, Maui, or Yellowstone (summer) is next to 0%.

Still learning Worldmark but feel the program is a much better fit for the way I travel. I see a lot of value with the bonus time and rental options.

 

[cbyrne1174]

Still learning Worldmark but feel the program is a much better fit for the way I travel. I see a lot of value with the bonus time and rental options.

I'm going to be at Reunion this coming week and will do a video of the property for next time you're in FL. Monday to Friday on bonus time is only $122 plus tax for a gorgeous 3 bedroom.

 

[dgalati]

I'm going to be at Reunion this coming week and will do a video of the property for next time you're in FL. Monday to Friday on bonus time is only $122 plus tax for a gorgeous 3 bedroom.

Did you try Nikki's while you were in Pompano?

 

[cbyrne1174]

Did you try Nikki's while you were in Pompano?

I only used my kitchen for food. I'm super cheap. I always just go to Aldi and buy a big box of food for $60-$100 depending on how long my stay is. I was only there 3 nights so honestly I just loaded whatever was in my kitchen and ate what I already had. My freezer bag keeps my food good for anything 4 hours or less away. Rough times. Gotta save that $$

 

[dgalati]

Is this like flipping houses where you buy the undervalued ones and then sell at higher price?

No not like flipping houses where you can buy low and make a profit selling. The key to flipping deeds is buy low then give away. The value is in the points available and the key is to try to use 2-3 years of current use year points without paying more maintenance fees then you have to.

 

[win555]

No not like flipping houses where you can buy low and make a profit selling. The key to flipping deeds is buy low then give away. The value is in the points available and the key is to try to use 2-3 years of current use year points without paying more maintenance fees then you have to.

This is interesting to me because I get to try out Wyndham without losing too much money. Can you elaborate how & where to find such deeds and how you "give away" after you are done? Not trying to get spoon fed, just need enough pointers so I can do my own legwork.

 

[dgalati]

This is interesting to me because I get to try out Wyndham without losing too much money. Can you elaborate how & where to find such deeds and how you "give away" after you are done? Not trying to get spoon fed, just need enough pointers so I can do my own legwork.

If you are wanting to try out Wyndham rent as needed. No purchase of ownership necessary and without the burden of paying maintenance fees. You can find low cost maintenance fee deeds on tug marketplace, Timeshare Nation and ebay. The purchase price is minimal if you have patience and wait for the right deal to come along. Key is to learn the system and make it work for your situation and traveling needs.

 

[MikeandLisaR]

What's Nikki's?

 

[MikeandLisaR]

Did you try Nikki's while you were in Pompano?

What's Nikki's?

 

[dgalati]

What's Nikki's?

nikki's orange kitchen - Google Search

,,,