Partnership?

[yshepeli]

So we currently have 2,500 MVC points and it doesn’t look like we have use for more on ongoing basis and I’m extremely weary of investing more money into it beyond what I’m already committed to.

With that said, I’m wondering if there is a way to partner with someone who is also in similar position, create a trust and transfer the ownership into the trust to get to at least 7k executive level to get the highest booking flexibility. I could also think of several ways this would add flexibility in usage amongst us.

In an ideal world, I would partner with two families who are currently at 2,500 level or one who has 4,500 points. Not sure how feasible it is, but if someone is interested in exploring this with me, provided we can get details ironed out?

 

[VacationForever]

More trouble than it's worth. If anything is going to go wrong with such a "partnership", it will. We are talking about people whom you do not know and do not already have a relationship with. So much is dependent on each end living up to their end of the bargain. It will not work.

 

[vacationtime1]

More trouble than it's worth. If anything is going to go wrong with such a "partnership", it will. We are talking about people whom you do not know and do not already have a relationship with. So much is dependent on each end living up to their end of the bargain. It will not work.

+1

Not to mention that the transfer/education fees to make this happen would cost thousands (remember -- the ownerships will have to be in the same name).

 

[Dean]

So we currently have 2,500 MVC points and it doesn’t look like we have use for more on ongoing basis and I’m extremely weary of investing more money into it beyond what I’m already committed to.

With that said, I’m wondering if there is a way to partner with someone who is also in similar position, create a trust and transfer the ownership into the trust to get to at least 7k executive level to get the highest booking flexibility. I could also think of several ways this would add flexibility in usage amongst us.

In an ideal world, I would partner with two families who are currently at 2,500 level or one who has 4,500 points. Not sure how feasible it is, but if someone is interested in exploring this with me, provided we can get details ironed out?

Sorry but I cannot think of a worse idea. Far too may ways for this to go south and one or both to end up very upset if strangers and a good way to ruin a friendship or family relationship if applicable. I'd either get there myself or forego the meager benefits.

 

[SueDonJ]

I agree with the thought process that this would be a disaster in the making if you partner with strangers. But as Moderator I want to point out that the TUG Rules do not allow advertising, so if there's any interest in the OP's suggestion then the discussion cannot take place in this thread. Thanks!

 

[yshepeli]

First of all, this is not advertising. Second, partnerships work if you set the right rules and expectations. I own 3 separate apartment buildings in 3 separate limited partnerships with 1-4 people, and they all work fine, with a lot more money at stake than what we are talking about here. By the same token, those who don’t know how to make them work, end up with lawsuits over a measly townhouse.

Now it’s clearly not for everyone, so if it’s not for you, I respect that. And if you have any constructive feedback why this will not work, I’m all ears, but in terms of internal disputes/disagreements, assume for a second that it’s a manageable issue.

Just most of my friends own their vacation places and my wife wants to experience different places instead of going back to the same place. So we dipped our toes with MVC.

 

[yshepeli]

More trouble than it's worth. If anything is going to go wrong with such a "partnership", it will. We are talking about people whom you do not know and do not already have a relationship with. So much is dependent on each end living up to their end of the bargain. It will not work.

Completely agree with everything you said except for the last sentence. . Just need to find the right partner for this to work.

 

[yshepeli]

+1

Not to mention that the transfer/education fees to make this happen would cost thousands (remember -- the ownerships will have to be in the same name).

My attorney is checking on this - different rules apply when ownership is transferred into a trust for the same beneficiary.

 

[yshepeli]

Sorry but I cannot think of a worse idea. Far too may ways for this to go south and one or both to end up very upset if strangers and a good way to ruin a friendship or family relationship if applicable. I'd either get there myself or forego the meager benefits.

Are you currently at Exec level? Based on my conversation seems like that’s where flexibility comes in, by being able to book fewer nights than 7 and supplement with cash nights?

 

[yshepeli]

If anyone is here at executive or higher level, can you confirm if you see less than week availability at prime locations in peak season 13 months out, or if this system is completely rigged where even at that level you can’t get into peak season at prime locations?

 

[nicben]

If anyone is here at executive or higher level, can you confirm if you see less than week availability at prime locations in peak season 13 months out, or if this system is completely rigged where even at that level you can’t get into peak season at prime locations?

A group of three of us did this in Wynham. Made us VIP.

 

[jwalk03]

If anyone is here at executive or higher level, can you confirm if you see less than week availability at prime locations in peak season 13 months out, or if this system is completely rigged where even at that level you can’t get into peak season at prime locations?

There is a separate thread you can find with discussions about the minimum nights requirement that many resorts seem to be applying in prime seasons (and in some cases not prime season.)

 

[vail]

Can you please tell me how this would be of benefit to me?
I have no trouble booking at the 12 month period?

 

[yshepeli]

A group of three of us did this in Wynham. Made us VIP.

Perfect! And are you guys still doing this and it’s working, and any periodic ad hoc issues can be worked through with the right approach? Or did you separate after a while?

 

[yshepeli]

Can you please tell me how this would be of benefit to me?
I have no trouble booking at the 12 month period?

I think if you already get exactly what you want, then there is no need to complicate things. My experience so far has been that even when my VA goes to book right on schedule, hotels we want at the location we want aren’t available. And she literally tries on the dot on the day the inventory is released .

 

[yshepeli]

I think if you already get exactly what you want, then there is no need to complicate things. My experience so far has been that even when my VA goes to book right on schedule, hotels we want at the location we want aren’t available. And she literally tries on the dot on the day the inventory is released .

But the benefit if you aren’t currently at exec level is to be able to book less than a full week 13 months out. Seems like doing 5 days points and 2 days cash works in situations where a week isn’t available through either points or cash (cash through Marriott directly)

 

[SueDonJ]

First of all, this is not advertising. ...

Again posting as moderator of this forum, the reason I included the link to the TUG Rules in my previous post was so that you could review them to see why a moderator felt the need to mention them. It is stated in the rules:

"... Individual users please note that messages promoting anything for which you may receive some personal gain are considered to be advertising, and are thus prohibited. ..."

You posted looking for other owners to partner with you in order to "get the highest booking flexibility" and to "add flexibility in usage amongst us." If your solicitation on TUG is successful you'd realize a personal gain, would you not?

So again, any discussion among you and others who would be interested in partnering with you cannot take place on the TUG public forums. The TUG Rules also state that discussion/complaints about moderation should not take place in the public forums. If you have further questions about the rules or my moderation in this thread, please click on the "Report" button on the bottom of this post to call attention to it from the other moderators and the administrators.

 

[Hindsite]

Completely agree with everything you said except for the last sentence. . Just need to find the right partner for this to work.

If you are dipping your toes, while you wait for the right partnership to come up, you can rent club points from another owner for around the cost of maint fees, without the initial capital up front or the ongoing liability.
As others have said, if you are after peak resorts at peak times, the points system can have min stay requirements or little inventory at 13 or 12 months, due to the nature of the inventory held by the trust.
You can wait list from 12 months, which can be successful, or just get your VA to check back regularly as the inventory fluctuates a lot and not just around release dates, but also the election deadlines.

 

[nicben]

Perfect! And are you guys still doing this and it’s working, and any periodic ad hoc issues can be worked through with the right approach? Or did you separate after a while?

One person collects the maintenance per month. Then we divide the points some times on needs more and that is OK too.

 

[Dean]

First of all, this is not advertising. Second, partnerships work if you set the right rules and expectations. I own 3 separate apartment buildings in 3 separate limited partnerships with 1-4 people, and they all work fine, with a lot more money at stake than what we are talking about here. By the same token, those who don’t know how to make them work, end up with lawsuits over a measly townhouse.

Now it’s clearly not for everyone, so if it’s not for you, I respect that. And if you have any constructive feedback why this will not work, I’m all ears, but in terms of internal disputes/disagreements, assume for a second that it’s a manageable issue.

Just most of my friends own their vacation places and my wife wants to experience different places instead of going back to the same place. So we dipped our toes with MVC.

IMO a large business partnership is a totally different animal than you're discussing. Hopefully with a large business you'd have a good lawyer drawing up very strict documents describing what happens in every possible scenario including bankruptcy, Divorce, Death, Disability, Disinterest, etc. And there would be a large enough asset to actually go through an enforcement process. It's a whole different entity where we're talking a more personal small time situation for vacations. It all works until it doesn't. My opinion is the same, far too much hassle, far too great of a risk for meager benefits. If you want sufficient points to get to 7K, you might buy week(s) in Spain that will come enrolled sufficient to get you there.

I haven't seen anyone do this after the fact but I've seen a lot of people (family & friends) enter into partnerships on the buy though most of my information is DVC related. I've seen far too many problems to think it worth the hassle and risk. Then there's the question of whether any weeks would remain enrolled or you'd have to pay the $3 fee again to MVC.

The only way I even see this remotely feasible is with family and friends with clear and written documents as I referenced above. You might be better off looking at a trading week and using II. Your choice of course, if you do proceed, let us know how it goes please.

Are you currently at Exec level? Based on my conversation seems like that’s where flexibility comes in, by being able to book fewer nights than 7 and supplement with cash nights?

Chairman's Club. There has been a lot of discussion lately related to resorts requiring minimum stays. At the present time there's no way to know who does or even tell when searching unless you search for the longer stay.

 

[yshepeli]

Moderator Note: Moved to personal messages.

 

[dioxide45]

IMO a large business partnership is a totally different animal than you're discussing.

Many business partnerships also turn a profit each year and the partners get money. This type of arrangement requires each partner to come to the table each year with a pile of money. What happens when one partner doesn't pony up one year? Sure the partnership agreement might outline what happens. But what really happens...

 

[yshepeli]

IMO a large business partnership is a totally different animal than you're discussing. Hopefully with a large business you'd have a good lawyer drawing up very strict documents describing what happens in every possible scenario including bankruptcy, Divorce, Death, Disability, Disinterest, etc. And there would be a large enough asset to actually go through an enforcement process. It's a whole different entity where we're talking a more personal small time situation for vacations. It all works until it doesn't. My opinion is the same, far too much hassle, far too great of a risk for meager benefits. If you want sufficient points to get to 7K, you might buy week(s) in Spain that will come enrolled sufficient to get you there.

I haven't seen anyone do this after the fact but I've seen a lot of people (family & friends) enter into partnerships on the buy though most of my information is DVC related. I've seen far too many problems to think it worth the hassle and risk. Then there's the question of whether any weeks would remain enrolled or you'd have to pay the $3 fee again to MVC.

The only way I even see this remotely feasible is with family and friends with clear and written documents as I referenced above. You might be better off looking at a trading week and using II. Your choice of course, if you do proceed, let us know how it goes please.


Chairman's Club. There has been a lot of discussion lately related to resorts requiring minimum stays. At the present time there's no way to know who does or even tell when searching unless you search for the longer stay.

Thank you, Dean! Yes the thought that the benefit isn’t worth the effort is kind of my main concern. I’m not particularly concerned about getting it done or documentation because I deal with it all the time, but ongoing attention is too much if I have to spend more than an hour a quarter thinking about it. . Tell me more about the Spain idea please?

Many business partnerships also turn a profit each year and the partners get money. This type of arrangement requires each partner to come to the table each year with a pile of money. What happens when one partner doesn't pony up one year? Sure the partnership agreement might outline what happens. But what really happens...

Yup. I’m in a middle of something like that now. We are under construction for a 26 unit apartment and we’ve been all contributing capital for close to 2 years (we are 3-4 months away from completion). And then one partner gets a better opportunity with another project and prefers to do that. So we just came to a mutually reasonable and acceptable solution where other picked up his share in exchange for his future contributions. Same can happen here, as long as the person understands that they can’t not contribute to maintenance fees and still use the points. So I assume if 3 people were in it and 1 couldn’t pay his points that year for whatever reason, others may decide to pay the points if he allowed them to then use those points that year. I don’t know what Marriott does in that case, but I’m sure it’s more problematic than just forfeiture of points for that particular year. That’s what I meant about added flexibility.

 

[vail]

What the OP is presenting is hardly a business opportunity.
Benefitting--maybe, but on such a small level, that I laugh when the TUG moderators get their antenna up?

My view of timeshares, is that we have gotten to the point where they are all basically worthless and will soon have a negative value.
Marriott continues to increase the maintenance fees to the point where almost any week at any resort can be rented for less than the maintenance fee.
Supply outweighs demand by a large margin.

I cannot even fathom how many owners would like to dispose of their weeks.
That is the reason so many fraudulent resale firms exist.

Therefore, anyone trying this is not gambling at all.
The problem appears to be if Marriott would even allow this as they might get stuck with a trust owning multiple units is just abandoned if a dispute among the owners arises?
With the value of a timeshare at 0, it would not take much disagreement.

 

[dioxide45]

What the OP is presenting is hardly a business opportunity.
Benefitting--maybe, but on such a small level, that I laugh when the TUG moderators get their antenna up?

My view of timeshares, is that we have gotten to the point where they are all basically worthless and will soon have a negative value.
Marriott continues to increase the maintenance fees to the point where almost any week at any resort can be rented for less than the maintenance fee.
Supply outweighs demand by a large margin.

I cannot even fathom how many owners would like to dispose of their weeks.
That is the reason so many fraudulent resale firms exist.

Therefore, anyone trying this is not gambling at all.
The problem appears to be if Marriott would even allow this as they might get stuck with a trust owning multiple units is just abandoned if a dispute among the owners arises?
With the value of a timeshare at 0, it would not take much disagreement.

Marriott doesn't restrict trusts or LLCs from owning points or deeded weeks.