Questions about buying Wyndham resale

[win555]

I'm considering buying resale Wyndham. Are there any tips/best practices to buy Wyndham resale? This is what I have learned so far:

• Buy low MF contracts like Canterbury, Bali Hai, South Shore, Grand Desert.
• Look for contracts with current use year points. Since points can be saved to future due to covid-19, they are valuable.
• Buy January use year to keep things simple.
• Look at Redweek, TUG, eBay ads.
• Add names of all family members to your deed so you can hold more reservations for a family reunion

Questions:

• how to minimize long term risk? ovations, names on contract, trust, LLC, etc?
• is it better to buy two small contracts or one large one or just buy whatever is the best deal and sell the less desirable ones in future
• Does it make sense to own two contracts as separate ones? Any benefits to doing that? As long as each contract is more than 250k, the program fee shouldn't be an issue. One can keep a July and January use years as two different accounts and not worry about the use year alignment.
• Can points saved to future years be moved to RCI? I'm confused whether that is a second move or not.

 

[dgalati]

I would also consider renting from VIP. If you can travel in the 60 day discount window and recieve the 50% its cheaper then paying maintmaintenance fees on a non ViP ownership.

 

[win555]

I would also consider renting from VIP. If you can travel in the 60 day discount window and recieve the 50% its cheaper then paying maintmaintenance fees on a non ViP ownership.

That's a good option. Use ownership for reservations booked in advance and rentals from VIP within 60 days. Best of both worlds?

 

[dgalati]

That's a good option. Use ownership for reservations booked in advance and rentals from VIP within 60 days. Best of both worlds?

Yes, plus a small ownership helps you know what inventory is available and what points it takes to book a resort. Find a presidential reserve owner who treats you fair. The units that are available and can be booked in 60 day discount would surprise many.

 

[dgalati]

I call it a strategy to travel for less then a VIP without the commitment or burden of maintenance fees.

 

[HitchHiker71]

Couple of articles worth reading to determine if you're a good match for timesharing:

Is timesharing right for me?

The purpose of this article is to establish what we consider to be a few hard and fast rules to live by when attempting to determine conceptually if timeshare ownership is a good match to meet your…

wyndhamexperts.org

Retail versus Resale Points

Q. What is the difference between buying directly from Wyndham versus resale points on a third party market like eBay? A. If you are asking this question, you already know that Wyndham points can b…

wyndhamexperts.org

Buying Wyndham Points on the Resale Market

Q: How do I buy Wyndham points on the resale market? What factors should I consider? Buying Wyndham points on the resale market is a great way to save money. However, Wyndham put restrictions on re…

wyndhamexperts.org

CWA versus Deeded Points

Q. What is the difference between Access points and deeded points? A. Deeded points (aka Wyndham Select) are points deeded to a specific resort. That deed is in the name of the owner. Access points…

wyndhamexperts.org

 

[cbyrne1174]

I would only keep 1 person on the deeds that you're 100% sure will be on every trip. I am the only owner on my membership. When I attend updates, i just say I'm single and my husband and kid sleep in while i get my gift and learn about what's new. My husband hasnt got a clue about how I get such nice accommodations for very little $$, hes just appreciative of my "hard work" learning how to do it. He knows it's a timeshare I bought resale, but that's it.

They stopped giving out gift cards, but you can still get 30,000 Wyndham rewards which equals 2 free nights in a 3 star property or 1 free night in a 4 star.

I had considered putting my husband on my ownership so I could make 2 reservations for a week that I know sells $11/point, but I decided I could always just spend an extra $99 if it arises where I would want to do that. I would only make $500 profit off that week instead of $600, which isnt that big of a deal to me.

Another benefit of 1 person is that only that person can have their credit hit if you cant get rid of your ownership 30 years down the road. Common law marriage means you cant go after another spouse if one spouse defaults. Also if your marriage doesnt last, theres no argument on who keeps the deed. Also, I bring my mom along all the time with me being the only owner, I just get an extra bedroom. Booking multiple units isnt cost effective. You also get 2 guest certs a year. So that means I can gift my mom 2 reservations a year before I have to pay the $99 fee.

If you want to occasionally have family reunions, you're not likely going to need more than 3 rooms at a time since 3 bedrooms are easy to come by. You can theoretically accommodate 30 people at once without having to buy a $99 guest cert. Just make sure you view your ownership as a liability, not an asset. Making multiple people liable just doesnt make sense to me if it can be avoided. Timeshares are real estate, but nothing like owning a house, that's literally the only liability I will cosign for since it's such a big asset.

 

[Eric B]

...

I had considered putting my husband on my ownership so I could make 2 reservations for a week that I know sells $11/point, but I decided I could always just spend an extra $99 if it arises where I would want to do that. I would only make $500 profit off that week instead of $600, which isnt that big of a deal to me.

...

You could always just have deeds with different versions of your name. Somehow Wyndham did that for me and my wife; on some deeds they included our middle names but on others they didn't. As a result, there are officially four owners on the account that we own jointly and I can make four simultaneous reservations.

 

[cbyrne1174]

You could always just have deeds with different versions of your name. Somehow Wyndham did that for me and my wife; on some deeds they included our middle names but on others they didn't. As a result, there are officially four owners on the account that we own jointly and I can make four simultaneous reservations.

On top of the 10 guest certs you get a year lol

 

[Eric B]

On top of the 10 guest certs you get a year lol

I'm sure you've read the outrage on the WorldMark forum about needing to put guest names on for multiple reservations next year. Every little bit helps!

 

[cbyrne1174]

I'm sure you've read the outrage on the WorldMark forum about needing to put guest names on for multiple reservations next year. Every little bit helps!

Yea. I was like yes!!!! Because then I actually will stand a better chance at getting Fiji 13 months out. Since 5k credits are $569 a year and you can usually rent credits for $0.07 per credit once covid is over, that means a week in Fiji is only $919 and attainable!

 

[Richelle]

I call it a strategy to travel for less then a VIP without the commitment or burden of maintenance fees.

If you have small ownership, you do have the burden of maintenance fees. Also, are those maintenance fees eating some of the "savings" you get from booking with a VIP? a 64,000 point CWA contract would run you in the neighborhood os $582. Your savings from renting from VIP should exceed $582. Otherwise, you're not saving money and you still have to pay maintenance fees. If someone is going to rent, it's better not to own at all. Like you said, find someone who treats you fairly and you don't have to own.

 

[Richelle]

You could always just have deeds with different versions of your name. Somehow Wyndham did that for me and my wife; on some deeds they included our middle names but on others they didn't. As a result, there are officially four owners on the account that we own jointly and I can make four simultaneous reservations.

I have contracts with my middle name, and contracts without my middle name. We still only have three owners.

 

[win555]

Couple of articles worth reading to determine if you're a good match for timesharing:

These are great articles although a bit generic. I have understood some info by reading other posts on this forum as well. I think I'm a good fit. If anybody doesn't want to post tips publicly, feel free to DM me.

 

[win555]

I would only keep 1 person on the deeds that you're 100% sure will be on every trip. I am the only owner on my membership. When I attend updates, i just say I'm single and my husband and kid sleep in while i get my gift and learn about what's new. My husband hasnt got a clue about how I get such nice accommodations for very little $$, hes just appreciative of my "hard work" learning how to do it. He knows it's a timeshare I bought resale, but that's it.

They stopped giving out gift cards, but you can still get 30,000 Wyndham rewards which equals 2 free nights in a 3 star property or 1 free night in a 4 star.

I had considered putting my husband on my ownership so I could make 2 reservations for a week that I know sells $11/point, but I decided I could always just spend an extra $99 if it arises where I would want to do that. I would only make $500 profit off that week instead of $600, which isnt that big of a deal to me.

Another benefit of 1 person is that only that person can have their credit hit if you cant get rid of your ownership 30 years down the road. Common law marriage means you cant go after another spouse if one spouse defaults. Also if your marriage doesnt last, theres no argument on who keeps the deed. Also, I bring my mom along all the time with me being the only owner, I just get an extra bedroom. Booking multiple units isnt cost effective. You also get 2 guest certs a year. So that means I can gift my mom 2 reservations a year before I have to pay the $99 fee.

If you want to occasionally have family reunions, you're not likely going to need more than 3 rooms at a time since 3 bedrooms are easy to come by. You can theoretically accommodate 30 people at once without having to buy a $99 guest cert. Just make sure you view your ownership as a liability, not an asset. Making multiple people liable just doesnt make sense to me if it can be avoided. Timeshares are real estate, but nothing like owning a house, that's literally the only liability I will cosign for since it's such a big asset.

You bring up good points about long term risk. Really complicated to think about how to do this right.

I see there is ovations. You can always give it back to them right?

 

[win555]

You could always just have deeds with different versions of your name. Somehow Wyndham did that for me and my wife; on some deeds they included our middle names but on others they didn't. As a result, there are officially four owners on the account that we own jointly and I can make four simultaneous reservations.

I have contracts with my middle name, and contracts without my middle name. We still only have three owners.

So this loophole has been closed? Who controls what names to put on the deed? The closing company or Wyndham?
Can I ask the closing company to put a certain version of my name on it?

 

[cbyrne1174]

You bring up good points about long term risk. Really complicated to think about how to do this right.

I see there is ovations. You can always give it back to them right?

It isn't a guarantee. Some they do, some they don't and what they take back changes.

 

[HitchHiker71]

You could always just have deeds with different versions of your name. Somehow Wyndham did that for me and my wife; on some deeds they included our middle names but on others they didn't. As a result, there are officially four owners on the account that we own jointly and I can make four simultaneous reservations.

We had this same thing happen when we added a resale contract earlier this year - my wife and I are both now listed twice due to full middle names as opposed to middle initials.

 

[HitchHiker71]

It isn't a guarantee. Some they do, some they don't and what they take back changes.

Any/all Wyndham programs are always subject to change and/or termination at any time, including Ovations.

 

[win555]

Any/all Wyndham programs are always subject to change and/or termination at any time, including Ovations.

So this seems like a big risk in covid 19 times. I feel they would not take back during a slow economy but will take it in a booming economy. This makes me nervous.

 

[dgalati]

If you have small ownership, you do have the burden of maintenance fees. Also, are those maintenance fees eating some of the "savings" you get from booking with a VIP? a 64,000 point CWA contract would run you in the neighborhood os $582. Your savings from renting from VIP should exceed $582. Otherwise, you're not saving money and you still have to pay maintenance fees. If someone is going to rent, it's better not to own at all. Like you said, find someone who treats you fairly and you don't have to own.

Very true @Richelle but you always need a back up plan if original plan falls apart. With COVID-19 putting a damper on renting I needed to buy back in. I will not hold for long maybe 6 months. After using this year and next years points I will give it away. 6 months of MF's for 2 years use. I may keep it 15 months and get 3 years use if renting doesn't return to normal.

 

[dgalati]

It isn't a guarantee. Some they do, some they don't and what they take back changes.

Nothing in writing its a moving target. You have to call in and they will tell you if your ownership qualifies. Best bet is find a grand Desert deed for under $500 all in. Not much risk at that purchase price or under. Worst case you give it away and pay the closing if Wyndham dosen't want it with Ovations.

 

[dgalati]

So this seems like a big risk in covid 19 times. I feel they would not take back during a slow economy but will take it in a booming economy. This makes me nervous.

Last Minute Discounted Timeshare Rentals Offered

Rentals of actual resort time (not points) with start dates 45 days or less into the future and Maximum rental rate $800/week or $115/day. Rentals more than 45 days out should be placed in the regular TUG Timeshare Marketplace.

tugbbs.com

You may try renting first before buying. Many rentals for less then the cost and burden of maintenance fees. You lose some control of booking ARP at 13 months out and have to pay a premium but if you can travel in the 60 day discount window and are flexible on locations desired last minute deals are always available.

 

[win555]

Last Minute Discounted Timeshare Rentals Offered

Rentals of actual resort time (not points) with start dates 45 days or less into the future and Maximum rental rate $800/week or $115/day. Rentals more than 45 days out should be placed in the regular TUG Timeshare Marketplace.

tugbbs.com

You may try renting first before buying. Many rentals for less then the cost and burden of maintenance fees. You lose some control of booking ARP at 13 months out and have to pay a premium but if you can travel in the 60 day discount window and are flexible on locations desired last minute deals are always available.

I posted this in another thread that I like being able to book exact dates/unit I want. I plan to travel on some long weekends as well and not travel the whole week. These rentals might not work for me.

 

[dgalati]

I posted this in another thread that I like being able to book exact dates/unit I want. I plan to travel on some long weekends as well and not travel the whole week. These rentals might not work for me.

Sounds like you need to buy in so you can book when and where you want 13 months out. I have never had had a problem getting a 1 bedroom where I wanted on short notice. I am very flexible on location so it works great for me. One size doesn't fit all, Learn the system and make it work for your needs.