Newbie but very interested in Tafer/GarzaBlanca

[Beach57]

How did you find a bankruptcy contract to take over? I've been looking for a contract to take over for about six months now and can't find any. Everything is for sale and they are asking for ridiculously high prices for a resale contract.

BK Assets.com

 

[SelingerNN]

How did you find a bankruptcy contract to take over? I've been looking for a contract to take over for about six months now and can't find any. Everything is for sale and they are asking for ridiculously high prices for a resale contract.

Hard to find right now. Last year, Tafer announced their plan to stop selling developer contracts once they finish what is currently in their building plan - 2 more beach front buildings in PV, and the new Playa del Carmen property. After that, the only way to "buy in" will be to buy from an existing owner. Knowing that, a lot of existing owners have been upping their ownership in the last year - including buying up what others are selling, etc. Apparently, that's also why the resorts been so booked up for the last year - in order to buy from Tafer directly, you have to be physically at the property. Assuming they're not lying about the plan to stop building, we're holding on to our investment - hoping we can sell at some point without losing the $70,000 CAD we've put in. We have 2808 points per year; upped a little every couple years for the last 7 years; now with a 50 year contract (as mandated by the Mexican government).

 

[lazylily]

My wife and I just returned from Hotel Mousai yesterday. Since this is our third visit to the property (1 @ GB, 2 @ HM) they allowed us to have an “informational” presentation for 30 minutes. Having rescinded a few years back with HGVC (thanks to TUG) I knew I wasn’t going to bite, but the massage was nice. BTW, it was an hour bc my wife kept asking questions.

The first deal was $137k for 5000 points, Elite membership, Preferred bonus points, back borrowing, RCI membership, Sabio (still unclear as to its purpose). MF $2500.

The second deal was (bc salesman can “bend the rules but not break) $77k for a resale of a members contract who traded their equity for real estate in Cabo. This included 5000 points and maintained Elite status with all of the same perks as above. MF $2300. With the money I have spent on my previous vacations there, they knocked it down to $70,499.

I was seriously considering, until I called my buddy who is a GBRC Elite member (we rent points from him). He said availability has been an issue, even booking 6-9 month out. He said to keep my money and continue to rent from him. However, in the future, we want to go two weeks a year (one with kids, one without). I don’t want to deplete his points/options for his family.

I was looking at resale on SMTN.com and stumbled upon a deal for $25k for enough points for now. RTU for 22 more years. MF less than half of above offers. I haven’t inquired for more info yet. I was looking to gain some more insight first.

My questions include:
With Tafer/GB Residence Club, what is lost with a resale? Do I still get Preferred points?
What tricks do others with this group use to get the weeks they want (how far out do you book)?
Do they treat resale contract people differently?
Are there any hurdles to climb?
My plan is to buy a decent number of points and add to get around 5000. Is there a downside to this other than the money?

That is all I can think of right now, but hope to learn more with contributions to this post. Below is my answers to the Newbie Questions:

1) Is there a vacation destination you wish to visit most of the time or on a regular basis? if so where?

Mexico (Puerto Vallarta)

2) Do you want to visit your home resort at least half the time, or do you want to trade more than half the time?

Yes. We love Hotel Mousai and GB

3) What are your 5 top trade destinations?

Mexico
Hawaii
North Carolina
Florida
Fiji (I know it’s a stretch, but it’s awesome)

4) How many people do you usually travel with - total, including yourself?

At most, 4
Least 2

5) Can you travel any time, or are you locked into the school schedule?

We have two boys ages 3 and 6. We live in the frozen tundra of ND. I’m not worried about them missing school, but prefer during Jan-March.

6) Can you make firm plans 12 or more mos. in advance?

Yes, if need be

7) Can you vacation for a full week at a time?

Yes

8) What level of accommodations do you prefer on a scale of 1 to 5 stars?

5

9) How much can you afford to spend upfront, without financing?

$15k

10) How much can you afford to spend every year for a maintenance fee that will come due right after Christmas, and increase each year?

$2,000

11) Are you a detail oriented planner?

Not really. We love Mousai. We don’t really plan much other than fishing with my buddy.

12) Do you understand that once you buy a timeshare, it may be very difficult to sell or give away, and you are responsible for all fees, until you do?

Yes

Thank you for your time and insights in advance!
Pete

Hi we bought a membership back in 2016 for 15k. One week plus floating week. We haven't used it in 5 years and have a ton of points accumulated. We want to sell as we bought a house in the Baja. If interested we would make a good deal.

 

[Barbyplaya]

Thank you for your insight! I’m still looking, but they are hard to find. One listing on SMTN.com I am interested in doesn’t respond to inquiries from me or the agent. Trying to stay patient. Cheers!

hello Pedro, we have a Tafer for sale but is even years, studio, summer, 1,114 points. let me know if you are interested in biennial or only annual memberships.