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Help- EOY Westin Lagunamar developer purchase

E

ejp

TUG Member
Joined
Jun 17, 2005
Messages
49
Reaction score
2
Location
California
We signed contract for a developer EOY Studio Lagunamar to capitalize on the Star Options Points incentive equaling 95K and the option to purchase four 80k bonus -320k up to 12/2013. Plus the EOY 67100 pts to use or a property exchage We liked the fact of getting into top luxury properties... Should we rescind.10 days to cancel. Need advice ASAP... We had to apply for AExpress card too. Thanks
 
Rescind immediately, you can get more staroptions buying resale for a fraction of the price. There are cases to be made for buying from the developer and retroing a unit, if thats your cup of tea. But it sounds like you are alot of research away from that.

As someone so eloquently put it (i forget who at the moment)

Rescind, Research, Resale

Follow the instructions for rescission in your folder to a t, good luck.
 
What is retroing,? so we can get the staroptions by buyong resale and convert to points?
 
Forgive me, but you should rescind .. Then be asking all these questions. You can always go back and get the "deal" they gave you. Denise has put a bunch of info in the stickies, But here is a quick cheat sheet.

With starwood there are a few mandatory resorts that you get staroptions with a resale purchase, most of the resorts are voluntary, no staroptions, you can either use your week or deposit with II and take advantage of the starwood preference or trade elsewhere. No resale purchases get the conversion to starpoints unless:

After buying a voluntary resort, you buy a developer unit and retro the resale, thus giving you staroptions and allowing you to convert to starpoints.
 
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Rescind. Absolutely. Immediately. Not a close call.

As one of the earlier posts notes -- rescind exactly according to the instructions (if they require U.S. mail, then use U.S. mail, if FedEx, then FedEx, etc.). You should probably send an additional copy via certified mail (if that is not the required method) so you have proof that you rescinded.

Only then, after your vacation, in the comfort of your own home, and with no timetable or deadlines, do your research and decide what is best for you.
 
Why rescind? The property you're getting is a really small unit, and while a nice location, can't be rented (too much competition), has too few options get a decent-sized unit (you really should get 81,000 at a minimum), and is a lousy trader in II. If you want to get into the Starwood system -- it's very different from Marriott and the others -- take a bit of time to visit around here to learn the differences and benefits.

Have a great time wherever you are!
 
nevermind.
 
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Different question here. Are the certificates for Starpoints at 80,000 for $1,500 a good deal? I have 4 of them and not sure I will use them.
 
Tfleming675 said:
Different question here. Are the certificates for Starpoints at 80,000 for $1,500 a good deal? I have 4 of them and not sure I will use them.
Click to expand...

When Starwood puts points "on sale" I believe they are 3.5¢ per point.

Whether it's a good deal or not will really depend on how you use them. Most hotels are 10K+ Starpoints per night.
 
Tfleming675 said:
Different question here. Are the certificates for Starpoints at 80,000 for $1,500 a good deal? I have 4 of them and not sure I will use them.
Click to expand...

Agree with Denise. If you are going to Europe (and maybe Asia; we don't have enough data on that here) and staying in one place for a while, the combination of "cheap" starpoints, plus the night free, plus a potential room upgrade, makes them a pretty good deal compared to getting that room with $.

Or, if you want to splurge on an "experience" with points it's a good way to get a lot of them. Starwood is a sponsor of the tennis USOpen and the PGA, so you can use points to get good seats/VIP tents at these events. We were going to the USOpen anyway, and when we learned we could get 2 suite-level seats in the biggest stadium for 35,000 points (including food and full access to the whole day of tennis) we got them. List price for those seats is something like $1700 each if you can get them, so this seemed like a good use of points. Now I'm just hoping that Rafa hits a ball to me! ;)
 
"When Starwood puts points "on sale" I believe they are 3.5¢ per point."

True, but using the options to buy 80,000 Starpoints for $1,500.00 works out to 1.8 cents per point. So, the cost of buying the 4 blocks of 80,000 Starpoints for $6,000.00 saves $5,200.00 over buying them on sale through Starwood ($11,200.00). The real value depends on whether you can or would use the Starpoints effectively after you have them. ... eom
 
clsmit said:
Now I'm just hoping that Rafa hits a ball to me! ;)
Click to expand...

We have series tickets to Tennis Masters Cincinnati event. On Monday night, Rafa practiced on the 2nd largest stadium and it drew almost as many people as the Blake match on Centre Court. The boy can sure hit the ball.

:)
 
Oh, and back on topic, make sure that the points you buy don't expire before you'll have a chance to use them. I wouldn't invest $6k without having a solid plan for using them.
 
LisaRex said:
Oh, and back on topic, make sure that the points you buy don't expire before you'll have a chance to use them. I wouldn't invest $6k without having a solid plan for using them.
Click to expand...

Great point! I don't think we will use all four. I will use some. I am platinum SPG member so they could come in handy. I will look into other uses of points as well.
 
jarta said:
"When Starwood puts points "on sale" I believe they are 3.5¢ per point."

True, but using the options to buy 80,000 Starpoints for $1,500.00 works out to 1.8 cents per point. So, the cost of buying the 4 blocks of 80,000 Starpoints for $6,000.00 saves $5,200.00 over buying them on sale through Starwood ($11,200.00). The real value depends on whether you can or would use the Starpoints effectively after you have them. ... eom
Click to expand...

Funny, that was the exact point of Denise's post.
 
To repeat my view on this topic (IMO, IME, YMMV, FWIW, etc.):
1) It cost $$$ to travel beyond the SP cost discount
2) You have to have the time and ability to use SPs effectively
3) The value of the SPs is directly related to how many you have

For our situation (based on 1-3) - I would not pay more than 1c/SP

1-3 are basic concepts
and again YMMV and likely does because everyone's situation and expectations are different
 
"Funny, that was the exact point of Denise's post."

Is there something wrong (or "funny") about making the same point in different words as a previous poster?

I would think having such a rule on TUG would shorten threads, but stifle
full expression. ;) ... eom
 
Thanks for the advise. We will rescind. Per contract 10 calendar days from contract date. I would like advise about the point accumulation program comparing marriot versus starwood.:)
 
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