"FREE" Wyndham points contracts

[SmithOp]

Wow, I think moderator should move this out of "bargain deals" to some other forum "ripoff deals"

I think this whole discussion should be a separate thread in buy/sell forum, its not appropriate to comment on someone's ad trying to offer a bargain deal. Let informed buyers decide if this is a good deal or not, and if they want to get informed there are plenty of long discussions like this in buy/sell...


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[piyooshj]

While I agree with the thoughts. I'm not interested in Wyndham my intent was to make sure uninformed aka new buyer don't fall prey. This thread is better where OP is compensating with discounted rentals. There is another inspired thread where buyer will pay mf for next couple years without any pts to use. Instead they can buy fully loaded contracts for next to nothing as someone posted an eBay link above.


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[Jason245]

Because it is not a deal while posted under a deals forum.


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Since it looks like at least a few of these have already been sold (as per the dropbox), somebody must have thought it was a deal.

Considering that these contracts generally have MF of what ~700 or so, even if points were stripped for 4 years (MF comittment of $2800), the cost would still be less than buying direct by thousands.

Is it a great deal? No. Is it a better deal then buying from developer? Yes. Is it the best deal that someone can get (compared to EBAY?)? No Is there a high level of assurance that all issues are being disclosed, that the seller can explain the nuts and the bolts of the entire system, answer questions honestly, and be able to assure the buyer that the title is otherwise in good standing with no liens? Yes.

If you look at this forum, you will see that there are probably tons of give away timeshares that have never been sold. Does that mean that they are bad deals or that the right buyer didn't come around and/or the seller didn't make enough effort?

Ron is being upfront with what he is offering, and he is willing to give away a portfolio of properties that helped to found his timeshare empire...some might even consider this to be an investment opportunity to someone who is looking to found their own empire...

 

[vacationdoc]

Since it looks like at least a few of these have already been sold (as per the dropbox), somebody must have thought it was a deal.

Considering that these contracts generally have MF of what ~700 or so, even if points were stripped for 4 years (MF comittment of $2800), the cost would still be less than buying direct by thousands.

Is it a great deal? No. Is it a better deal then buying from developer? Yes. Is it the best deal that someone can get (compared to EBAY?)? No Is there a high level of assurance that all issues are being disclosed, that the seller can explain the nuts and the bolts of the entire system, answer questions honestly, and be able to assure the buyer that the title is otherwise in good standing with no liens? Yes.

If you look at this forum, you will see that there are probably tons of give away timeshares that have never been sold. Does that mean that they are bad deals or that the right buyer didn't come around and/or the seller didn't make enough effort?

Ron is being upfront with what he is offering, and he is willing to give away a portfolio of properties that helped to found his timeshare empire...some might even consider this to be an investment opportunity to someone who is looking to found their own empire...

I like and agree with the above post.

 

[am1]

It is not a bargain deal. We are not comparing deals to developer purchases to decide if it is a bargain deal or not.

Not sure how one would found an empire on small contracts with high transfer fees and no points for 2-3 years. Just send me a few thousand dollars and save yourself the trouble of going under.

Since it looks like at least a few of these have already been sold (as per the dropbox), somebody must have thought it was a deal.

Considering that these contracts generally have MF of what ~700 or so, even if points were stripped for 4 years (MF comittment of $2800), the cost would still be less than buying direct by thousands.

Is it a great deal? No. Is it a better deal then buying from developer? Yes. Is it the best deal that someone can get (compared to EBAY?)? No Is there a high level of assurance that all issues are being disclosed, that the seller can explain the nuts and the bolts of the entire system, answer questions honestly, and be able to assure the buyer that the title is otherwise in good standing with no liens? Yes.

If you look at this forum, you will see that there are probably tons of give away timeshares that have never been sold. Does that mean that they are bad deals or that the right buyer didn't come around and/or the seller didn't make enough effort?


Ron is being upfront with what he is offering, and he is willing to give away a portfolio of properties that helped to found his timeshare empire...some might even consider this to be an investment opportunity to someone who is looking to found their own empire...

 

[Jason245]

It is not a bargain deal. We are not comparing deals to developer purchases to decide if it is a bargain deal or not.

Not sure how one would found an empire on small contracts with high transfer fees and no points for 2-3 years. Just send me a few thousand dollars and save yourself the trouble of going under.

What is your definition of a bargain deal?

For $700/year the buyer would have access to RCI last call and in 2 years they would have access to the week/points in addition to last call.

There are more then 1 Million points worth of contracts on that sheet. Ron can tell the buyer or you how much they can reasonably rent for in todays market. I would think (and Ron can jump in here if he wants) that even going into Deficit for 2 years on the MF on these, If you rented out 80% of the points/year you would probably break even within a 7 years of purchase date.

Is it a get rich quick thing... No, but if 30 contracts and were paying $21k/year on MF, in 2 years you would have spent $42k + Transfer on those contracts. If you can rent out 80% of the units at $500/unit profit (again I am pulling numbers out of the air), you are looking at a profit of 7800/year (Taking you a little over 5 years to recoup at only 80% rental).

It looks like (although I don't understand the system very well), you can borrow the future points and start renting out units as early as 2016. Ron would have to explain the logistics to the buyer, and it would require effort, but you could be investing $40k for ~8k/year in profit (based on those numbers).

If that it the case, then this isn't terrible for someone with a long term vision. Someone taking over the entire lot could also try to negotiate with Ron in order to be mentored into how to be successfull.

 

[am1]

You are digging the hole deeper. Just go out and buy a fully loaded 1 million or more point contract then drop a few hundred thousand to get platinum and you can rework your numbers.

These are not bargain deals. That being said it is creative and there maybe some buyers.

What is your definition of a bargain deal?

For $700/year the buyer would have access to RCI last call and in 2 years they would have access to the week/points in addition to last call.

There are more then 1 Million points worth of contracts on that sheet. Ron can tell the buyer or you how much they can reasonably rent for in todays market. I would think (and Ron can jump in here if he wants) that even going into Deficit for 2 years on the MF on these, If you rented out 80% of the points/year you would probably break even within a 7 years of purchase date.

Is it a get rich quick thing... No, but if 30 contracts and were paying $21k/year on MF, in 2 years you would have spent $42k + Transfer on those contracts. If you can rent out 80% of the units at $500/unit profit (again I am pulling numbers out of the air), you are looking at a profit of 7800/year (Taking you a little over 5 years to recoup at only 80% rental).

It looks like (although I don't understand the system very well), you can borrow the future points and start renting out units as early as 2016. Ron would have to explain the logistics to the buyer, and it would require effort, but you could be investing $40k for ~8k/year in profit (based on those numbers).

If that it the case, then this isn't terrible for someone with a long term vision. Someone taking over the entire lot could also try to negotiate with Ron in order to be mentored into how to be successfull.

 

[kev5982]

The same tactic is being done in the Marketplace on bargain basement deals.
People trying to get money by renting out their points, then trying to give away while some buyer pays the mf for them.

pretty clever.

 

[persia]

Careful, if your names are on the deeds and you die your kids can refuse the inheritance and the estate will only be out the years maintenance fees. If they are on the deeds they can't refuse the inheritance...

To be clear, this is not an attractive offer for most folks. But if you have been hoping to find a small contract to use for estate planning purposes or to just add your kids name to your account to avoid guest fees, then perhaps one of these would work for you

Currently, all my Wyndham timeshare deeds are just in the name of me and my wife. When we die, it is my understanding that if our children want to inherit the deeds, they have to pay title transfer fees on all of them. If we buy one of Ron's contracts and put all the children's names on it as well as our own, would this enable them to inherit our entire account without having to go through the title transfer process on the other deeds?

 

[jamaica72]

sent you a PM

Sent you a PM

 

[uscav8r]

Careful, if your names are on the deeds and you die your kids can refuse the inheritance and the estate will only be out the years maintenance fees. If they are on the deeds they can't refuse the inheritance...

Therein lies the beauty of tiny or small contracts. For example, if I have a 500k account with my name on the deed, I can effectively give anybody access to the entire account with just a small add-on deed. I did this last year with a 32k contract at a low MF resort to add my brother and a close family friend. If I were to pass away, they would ONLY be on the hook for the 32k MF (which are little more than $10/month). The original 500k deed in my name only would essentially go back to Wyndham/HOA if they (or my wife) did not want to take it on.

 

[CO skier]

Therein lies the beauty of tiny or small contracts. For example, if I have a 500k account with my name on the deed, I can effectively give anybody access to the entire account with just a small add-on deed. I did this last year with a 32k contract at a low MF resort to add my brother and a close family friend. If I were to pass away, they would ONLY be on the hook for the 32k MF (which are little more than $10/month). The original 500k deed in my name only would essentially go back to Wyndham/HOA if they (or my wife) did not want to take it on.

No, that is not ONLY what they are on the hook for. If the co-owners eventually have to pay $3000 to a PCC to dispose of a 32K deed that has no market, so it does not wreck their credit, they would have been better off paying the $99/guest certificate for 7, or 10 or 15 years they may have used the timeshare.

 

[uscav8r]

"FREE" Wyndham points contracts

No, that is not ONLY what they are on the hook for. If the co-owners eventually have to pay $3000 to a PCC to dispose of a 32K deed that has no market, so it does not wreck their credit, they would have been better off paying the $99/guest certificate for 7, or 10 or 15 years they may have used the timeshare.

$3000. Did TUG and handed down disposal instructions/pitfalls/education suddenly disappear from the face of the earth? Yes, let's use the most extreme of cases and make blanket assumptions for the uninformed.

It's not a strategy for everyone, nor am I claiming that every small Wyndham contract is created equal (there are plenty of resorts for which I would not have done this). ANYONE considering the pluses and minuses of ANY TS-related acquisition needs to do a risk assessment. Heck, if the worst case scenario is always the outcome, why would anyone in their right mind consider buying a TS (even resale) at all?


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[Jason245]

Heck, if the worst case scenario is always the outcome, why would anyone in their right mind consider buying a TS (even resale) at all?


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Because, sometimes, worst case scenario still has you comming out ahead.

 

[Roger830]

Therein lies the beauty of tiny or small contracts. For example, if I have a 500k account with my name on the deed, I can effectively give anybody access to the entire account with just a small add-on deed. I did this last year with a 32k contract at a low MF resort to add my brother and a close family friend. If I were to pass away, they would ONLY be on the hook for the 32k MF (which are little more than $10/month). The original 500k deed in my name only would essentially go back to Wyndham/HOA if they (or my wife) did not want to take it on.

On my Wyndham contracts, my wife is only on the Panama City Beach. It's low mf and 168k eoy, which would get her a week most places eoy and should be easy to dispose because of the low mf fees and good arp.

 

[spackler]

I'm not clear on how "stripping" the points is even possible...don't reservations/pooled credit points transfer to the new owner?

 

[traveldaddy]

I'm not clear on how "stripping" the points is even possible...don't reservations/pooled credit points transfer to the new owner?

The points in the credit pool get associated with the account, not the individual deed. The only time credit pool points transfer is if it is the last deed in the account, so the credit pool points have to be associated with that last deed being transferred.

 

[ronparise]

The points in the credit pool get associated with the account, not the individual deed. The only time credit pool points transfer is if it is the last deed in the account, so the credit pool points have to be associated with that last deed being transferred.

That is not exactly right . Its reservations that dont transfer, Even if its the last contract in the account the reservation doesnt transfer. If it is the last contract the account is closed, the reservations go into never never land. They are no longer associated with an account but the confirmation number is still there and the resort will be expecting someone to check in.

Credit pooled points are still associated with a contract number, and if those points aren't in a reservation they will transfer. ( a new 700000 point contract I just bought came into my account with no 2015 points, 700000 2016 and 700000 2017 and 700000 in the pool)

So heres what I do: I pool the points as soon as I am able to. So in Jan 2015 I credit pooled the 2017 points, All these points are now in reservations, (the 2015 points and 2016 points were in reservations that are now way past check out). When I sell one of these contracts there will be no points with it and the reservations will stay behind in my account.

 

[Maureenk1]

"FREE" Wyndham points contracts

Do you have any of these available? I realize much time has passed.
Maureenk1

 

[docchopra]

Wyndham points

I will be interested in few contracts

 

[ronparise]

Do you have any of these available? I realize much time has passed.
Maureenk1

Ill work up a new list

 

[ronparise]

Ill work up a new list

Ive changed my mind.

There were some here that said that what I was offering was not a good deal for the buyer. I disagree I think it is too good a deal and Id be screwing my self if I was to do any more at this time. .

You may remember what I said regarding my previous offer "The buyer would have access to a years points in Jan 2016 (by credit pooling the 2018 points) "

So at this point in time I just have to make 2 more monthly mf payments to get the use of a years worth of points If I was to sell now, Id still be making those 2 months of mf payments but I wouldnt get the 2018 points.


Im going to hold what I have until after Jan 1. Ill capture the 2018 points for my own use, then decide what to do with the contracts

 

[chriskre]

Points stripped contracts are very popular with Disney Vacation Club sales.
Does that stop anyone from purchasing them?
Sure for many, but for the right buyer they make total sense.
I see the same situation here, it's a nice way to gain entry to Wyndham without supporting the PCC's.
I'm thinking about that Royal Vista myself.

 

[CO skier]

Points stripped contracts are very popular with Disney Vacation Club sales.
Does that stop anyone from purchasing them?
Sure for many, but for the right buyer they make total sense.
I see the same situation here, it's a nice way to gain entry to Wyndham without supporting the PCC's.
I'm thinking about that Royal Vista myself.

140,000 points Royal Vista, cost $0 +$299 transfer (negotiable)
(Does the $821 MF include the program fee?)

Pay 2016 MF $821 get no points
Pay 2017 MF $821 get no points
Pay 2018 MF $821 get 140,000 points (or maybe not)

You may want to compare with something from EBay:

http://www.ebay.com/itm/154-000-Wyn...584462?hash=item567ca82f8e:g:z3QAAOSwo0JWFY8W

154,000 points Royal Vista, cost $470 with free closing and transfer
(Does the $1050 MF include the program fee?)

Pay 2016 MF $1050 get 154,000 points
Pay 2017 MF $1050 get 154,000 points
Pay 2018 MF $1050 get 154,000 points


At least with the PCCs the upcoming year's points are available and the buyer does not start out $1600-$2400 behind on MF and having to pay an additional $39/year to credit pool points just to gain access to something to use.


There are timeshares for sale in the Marketplace at all sorts of crazy pricing. That may be the place for stripped accounts with maintenance fee deficits.

Ok, we are going to try something new in hopes that it will work out and not turn into a fiasco

What this forum will serve as, is a place for members to post "smoking deals" on anything from Timeshares, to taco toppings. I dont care what it is, as long as it is a "smoking deal" it can go here.

You are permitted to post your own timeshare ads, however if the asking price or rental price is not a "smoking deal" your ad is subject to removal!

I do not see that any of the listed contracts qualify as a "smoking deal".

 

[ronparise]

140,000 points Royal Vista, cost $0 +$299 transfer (negotiable)
(Does the $821 MF include the program fee?)

Pay 2016 MF $821 get no points
Pay 2017 MF $821 get no points
Pay 2018 MF $821 get 140,000 points (or maybe not)

You may want to compare with something from EBay:

http://www.ebay.com/itm/154-000-Wyn...584462?hash=item567ca82f8e:g:z3QAAOSwo0JWFY8W

154,000 points Royal Vista, cost $470 with free closing and transfer
(Does the $1050 MF include the program fee?)

Pay 2016 MF $1050 get 154,000 points
Pay 2017 MF $1050 get 154,000 points
Pay 2018 MF $1050 get 154,000 points


At least with the PCCs the upcoming year's points are available and the buyer does not start out $1600-$2400 behind on MF and having to pay an additional $39/year to credit pool points just to gain access to something to use.


There are timeshares for sale in the Marketplace at all sorts of crazy pricing. That may be the place for stripped accounts with maintenance fee deficits.





I do not see that any of the listed contracts qualify as a "smoking deal".

Whether you see them as a good deal or not isnt that important to me. several of these contracts were snapped up when they were first offered

The ones that are left I am keeping. By Jan 1, I will have paid 9 months mf since I made the offer to give them away, and on Jan 1 I will be able to put a years worth of points into the points credit pool, So 9 months mf, 12 monts points.... thats too good of a deal for me to give away. (By the way the contracts that were taken, settled in June and July. These folks will pay 6 months mf to get a years worth of points.... I think they got a deal and I think they think so too.

I understand that everything I offered wasnt a smoking deal for you or even most of the folks that post here. To see any of this as a good deal required thinking a little outside the box and most dont do that.


There really is no need to keep preaching on this subject, the offer is no longer on the table.