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Lakeshore Reserve: Sound Assumptions ?

Bristolian

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Hi All

Another newbie to the great TUG forums. I have been hovering & reading for the last few days trying to digest as much info as possible.

Recently visited the Marriott Marbella Beach Resort in Spain as part of a preview break. I'd previously had a look around the Marriott Paris resort & had been impressed.

I spoke to the sales reps & was told them I was looking for a timeshare that I was not necessarily going to visit regularly but I could easily rent to cover costs or swop for other Marriott Resorts. They suggested the new Lakeshore Reserve complex because it is a new 6 star style development etc.

It sounded good & was offered one of the 2 bed Lock-Off apartments (not deluxe) for $23700.

I am based in the UK, have 2 small children (5 & 7). We will probably visit Orlando at least once in the next 5 years but would prefer to use this to have other holidays around the world.

Given this is a new development so a few unknowns but is still in Orlando - which is flooded with timeshare (I was unaware of the extent until I read this forum), are my assumptions for purchasing this unit sound ?:

1. Easy to let out for a decent rent if I pick my week sufficiently in advance. Ideally looking to cover the yearly fees & make some on top to help pay for holidays.

2. Would be easy to split the lock-offs to partly rent & deposit the other half with II.

The other option would be to rescind (which I have seen lots of recommendations for people who have recently purchased Lakeshore) & buy something maybe resale. The question then here is what would people suggest that wiould give me good flexibility to rent/swop, another Marriott US/European location.

Thanks for everything Guys/Girls


The Bristolian
 

sernow

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I'd rescind immediately. The resale market has never been better for buyers and it will be easier to rent to cover your costs if you dont have large upfront costs.
 

Bristolian

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Any particular Marriott resorts people would recommended, ideally with Lock Off options, but main factor being rentability & swopability.

The Bristolian
 

pwrshift

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I'm not big on Orlando ownership as it is so easy to trade into or rent there due to the oversaturation of TS resorts...and hotels. Renting for a decent amount may be more difficult in Orlando, especially in a down economy. I'm also not big on ownership of a TS that you won't use 3 out of 4 years. These are really built for family holiday use.

Having said that I came very close to buying Lakeshore Reserve myself (until I realized that I already owned 6), the one with the two bedroom/two kitchens which I think is the best one to own ... for trading or renting. In case you haven't seen one like it, here is the early video Marriott released ... usre looks nice. It's right next to the JW Marriott in an amazing complex of Grand Lakes. Would be kinda nice to use their facilities, spa, restaurants .. and just walk to them. Location is a real plus ... I just wish this resort was in a beachfront location which always draws more interest and money for renting. In Orlando you can often get an II Getaway for less than half the annual Maintenance those owners pay.

http://vimeo.com/1327158

Brian
 

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Just one misconception that is being touted by the salespeople about this resort - The deluxe lock offs does not give you two bedrooms with two full kitchens.

I locked of my unit and put it in II. It showed as a one bedroom with kitchen and one bedroom on its own. I contacted the salespeople and they said they would sort it. It now shows as a one bedroom with kitchen and a one bedroom with limited kitchen.

I got a platinum week and at the time of purchase got 25% discount. In hindsight I now wish I stretched the extra 1000 - 2000 to by premier platinum as I think it would then have been an excellent trader even though it is an Orlando resort. I suppose for the first few years it should be a good trader as there will not be many units and lots of people trying to get into it.

I am happy as a direct buyer. I know I will be crucified by the rest of the TUGG community but feel now that I have two resorts I can go on holiday and trade for points in the same year and with my credit card hopefully I can acrue points much faster. I will trade this for business class tickets and level 7/8 hotel somewhere on an island in the indian ocean. I will then be able to start all over again(collecting points) and do it again and again. I know this will not make sense to most but hopefully I will get at least another fourty years out of my TS and feel the initial upfront costs for being able to trade for points and then to use it for dream holidays makes it worthwhile as I will never be in a situation(probably because I do not listen to TUGG advice) to purchase things like business class tickets etc. upfront.
 

timeos2

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Far too much

It sounded good & was offered one of the 2 bed Lock-Off apartments (not deluxe) for $23700.


The Bristolian
Nothing wrong with Marriott but you are WAY overpaying by not buying resale. Rescind if you can and study the best resort for your use. You'll save tens of thousands.
 

gmarine

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Orlando isnt a good choice for the purpose of exchanging and a worse choice for the purpose of renting. Any resort is easy to exchange into and rentals are lucky to make enough to cover maintenance fees.

Rescind, then take your time researching a purchase.
 

SMB1

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Just one misconception that is being touted by the salespeople about this resort - The deluxe lock offs does not give you two bedrooms with two full kitchens.

I locked of my unit and put it in II. It showed as a one bedroom with kitchen and one bedroom on its own. I contacted the salespeople and they said they would sort it. It now shows as a one bedroom with kitchen and a one bedroom with limited kitchen.
II is wrong. If you bought the deluxe 2 BR it does break down into two 1 BR units. On is lareger than the other, but they both have 2 full kitchens. I would call Marriott owner services and have them fix the problem at II.


I got a platinum week and at the time of purchase got 25% discount. In hindsight I now wish I stretched the extra 1000 - 2000 to by premier platinum as I think it would then have been an excellent trader even though it is an Orlando resort. I suppose for the first few years it should be a good trader as there will not be many units and lots of people trying to get into it.
If you purchased recently, you should call to see if you can upgrade to premiere platinum. When we bought there they said there would be a grace period duing which we could upgrade. I want to say it was 6 months. If you don't get the answer you are looking for, call a half dozen times talking to different salespeople.
 
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Stefa

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Rescind, then take your time researching a purchase.
This is sound advice. There are a lot of timeshares for sale right now, so you should do some research to figure out what is best for you. Since it sounds like you don't plan to use/trade your timeshare every year you might also consider not buying any timeshare and renting what you need.

I have rented out several timeshares over the years and it takes a bit of time and effort to be successful. In this economy I wouldn't buy anything with the intention of renting.

We like the Marriott system, but there may be another timeshare that better suits your needs.
 

m61376

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I would rescind immediately and make sure you are certain before buying. Easy to rescind- hard to sell afterward and at a great loss. Make sure it is the right purchase for you.

That said, buying in Orlando primarily as a trader, as others have posted, is not a good idea. I would guess that the "newness" factor will play into trading power and rental rates for a few years, but then that edge will be gone. It may always be a premium resort in Orlando, but I doubt after a few years people will be willing to pay a premium giving the location.

Since you live in England, why not consider one of the Spanish resorts that you might be apt to visit more often, or the Paris Disney one, as your home base? Look for a good resale; it is a buyer's market.
 

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A couple of issues about Lakeshore are that it redefines the seasons for Marriott essentially raising the price for many of the weeks compared to GV. I suspect II will only recognize the second 1 BR as a limited kitchen given the floor plans. I doubt it'll trade any better than GV for the same week and unit size.
 

icydog

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II is wrong. If you bought the deluxe 2 BR it does break down into two 1 BR units. On is lareger than the other, but they both have 2 full kitchens. I would call Marriott owner services and have them fix the problem at II.




If you purchased recently, you should call to see if you can upgrade to premiere platinum. When we bought there they said there would be a grace period duing which we could upgrade. I want to say it was 6 months. If you don't get the answer you are looking for, call a half dozen times talking to different salespeople.

I bought when it first hit the street. I think a year ago. What advantage is premier plat over plain old plat in a two bedroom deluxe with two kitchens?
 

icydog

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A couple of issues about Lakeshore are that it redefines the seasons for Marriott essentially raising the price for many of the weeks compared to GV. I suspect II will only recognize the second 1 BR as a limited kitchen given the floor plans. I doubt it'll trade any better than GV for the same week and unit size.
The Sheraton two bedroom LO trade as two one bedrooms even though one side is bigger than the other, isn't that correct? The same should be true with the two bdrm with two kitchens. The only difference is size and a washing machine.
 

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The Sheraton two bedroom LO trade as two one bedrooms even though one side is bigger than the other, isn't that correct? The same should be true with the two bdrm with two kitchens. The only difference is size and a washing machine.
That is correct. As an example, I used a 1br Sheraton Desert Oasis with limited kitchen to trade into Oceana Palms. A 1br with a limited kitchen is still a 1br and will trade better than a studio.
 

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The Sheraton two bedroom LO trade as two one bedrooms even though one side is bigger than the other, isn't that correct? The same should be true with the two bdrm with two kitchens. The only difference is size and a washing machine.
It will trade as 1 BR but with a limited kitchen I suspect. The issue depends on the kitchen, the decision is II's as to how to label it. I suspect they will interpret this as a 1 with a limited kitchen but we shall see.
 

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Rescind now! I also purchased at Lakeshore Reserve - 2 bed with lock off (not deluxe) and I paid $22,000 back in April. Days later I found TUG and rescinded. WAY too much money to be in Orlando. I ended up buying resale in St. Thomas for $9,000 - A savings of $13,000 goes a long way for future holidays!!!

Rescind now, do more research on the resale market and IF you still want to buy at Lakeshore Reserve you will be able to do so at the same price, if not cheaper!

Best of Luck

Kenny
 

LAX Mom

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Rescind now while you can and do some research. Marriott has some great properties, but you can save $$ by purchasing resale. In this economy it's tough to rent a timeshare for enough to cover your MF and the loss of income from your purchase price.

I look at it this way. If you have cash to spend for a timeshare, you have to figure the opportunity cost of that cash. (If you are considering a purchase that you have to finance, forget it, you can't afford a timeshare right now!!) Say you pay $22,000 for a timeshare. You have lot the option to invest that money somewhere else, in the bank, stocks, whatever. So I figure you have to make enough in a rental to cover your MF and the loss of income from money that you paid for a purchase price.

Today there are great deals available for rent, especially in Orlando. So don't buy in Orlando thinking you can rent and make a profit.

Look for a lock-off unit that your family might actually use. Also, if you bank a deposit with II you have 2 years from the date of check-in to use your deposit. So you can always deposit, then use your weeks at a later time.

Do some research on TUG and ask questions. You'll find something that works for you! I'm a very satisfied Marriott owner, but I had to figure out what would work best for my family.
 

gmarine

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I've never noticed any difference in trading power when comparing a unit with limited kitchen versus one with full kitchen. Limited kitchen can mean something so minor as having a small refridgerator or the lack of an oven.
 

Dean

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I've never noticed any difference in trading power when comparing a unit with limited kitchen versus one with full kitchen. Limited kitchen can mean something so minor as having a small refridgerator or the lack of an oven.
I've seen a little here and there with certain resorts but it's always been very minor and it's rare you'd even pick it up unless you were at the very edge of the trade power for a given option.
 

SMB1

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I bought when it first hit the street. I think a year ago. What advantage is premier plat over plain old plat in a two bedroom deluxe with two kitchens?
Nothing, unless you want to travel in Feb/March. I only said to call because Venter said earlier "In hindsight I now wish I stretched the extra 1000 - 2000 to by premier platinum as I think it would then have been an excellent trader even though it is an Orlando resort." I was just letting her know that I think she could still get the premiere platinum.
 

Venter

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Nothing, unless you want to travel in Feb/March. I only said to call because Venter said earlier "In hindsight I now wish I stretched the extra 1000 - 2000 to by premier platinum as I think it would then have been an excellent trader even though it is an Orlando resort." I was just letting her know that I think she could still get the premiere platinum.
Thank you.
 

dioxide45

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If you look at the floor plans for the deluxe 2BR lock offs at Lakeshore reserve, there is definitely a difference in the size of the kitchens in each side of the lock off. One side has a full stove, double sink, oven, and island. The other side has a two burner cook top, no oven and only a single sink. Both have full size refrigerators. I could see II calling the one side a 1BR with LK.

https://www.timeshares.marriott-vacations.com/ownership/ebrochures/lakeshore/floorplans.html
 

Dean

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If you look at the floor plans for the deluxe 2BR lock offs at Lakeshore reserve, there is definitely a difference in the size of the kitchens in each side of the lock off. One side has a full stove, double sink, oven, and island. The other side has a two burner cook top, no oven and only a single sink. Both have full size refrigerators. I could see II calling the one side a 1BR with LK.

https://www.timeshares.marriott-vacations.com/ownership/ebrochures/lakeshore/floorplans.html
If there is no oven and or a smaller burner, II will almost certainly call it a LK even if the microwave is a convection oven. This would be c/w their ratings of other resorts with no oven even if they had a DW and full stovetop.
 

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If there is no oven and or a smaller burner, II will almost certainly call it a LK even if the microwave is a convection oven. This would be c/w their ratings of other resorts with no oven even if they had a DW and full stovetop.
I'm not sure how significant the difference in trade power is between a unit with full kitchen and one with limited kitchen. The unit with LK may have slightly less trade power, but it will still trade much better than a studio. The trade power may depend more on private sleeping capacity then the size of the kitchen.
 

Dean

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I'm not sure how significant the difference in trade power is between a unit with full kitchen and one with limited kitchen. The unit with LK may have slightly less trade power, but it will still trade much better than a studio. The trade power may depend more on private sleeping capacity then the size of the kitchen.
No argument there, I've already agreed to as much. My info is there is a minor difference between a LK and full kitchen on either a studio, 1 BR unit or 2 BR unit. The other risk is that sometimes what the resort calls a 1 BR, II will still label a studio or may have a lower occupancy rating than you or the resort think is right, esp with loft units. Sometimes there is no rhyme or reason. I've seen the same unit at a given resort listed as both a FK and a LK, it seems to depend on who puts it in.
 
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