Resort(s) Bailout or Resorts LLC

[BocaBum99]

For the record, I support the PCC business model. But, I do not support many of their methods. For instance, I do not support the lying they do about tax deductions. I do not support the high pressure and lies about the value of timeshares.

What I do support is the concept of paying someone to get rid of your timeshare as long as it is done legally and ethically. I think the donation companies do a better job in the area.

I do not have an ethical problem with the Viking ship model of timeshare disposals. However, it is illegal. So, I don't support it. I think the blame lies squarely on the HOAs for allow their resorts to go to zero value. They should be required to take deedbacks from anyone who wants it as long as they pay a fee (transfer plus 1-2 years MF is fine with me).

I also think Ride and ebram are trolls who should be ignored.

 

[DeniseM]

ps. Most of the posters are moral pontificators who own prime weeks in seasonal resorts who want dog week owners to subsidise them.

e.bram - a number of the attorneys on TUG have posted that creating an LLC for the purpose of bankrupting it for financial gain is AGAINST THE LAW. And you obviously know that, because you have been beating that dead horse for years, but haven't done it yourself...

BTW - I own a number of "dog weeks" myself, and I do quite well with them and wouldn't give them away if I could.

 

[DeniseM]

DeniseM -

An interesting fact I just discovered, Ridewithme38, the reason he is trolling and saying what he is saying is because he is one of the co-owners of Resorts LLC the company we are talking about. His name is Craig and he also goes by Jeff Griffen on the phone.

That explains a lot about what he is saying and why, he isn't just any troll, he is also here trying to peddle his scams.

If this is true, it's the best Con job every pulled on TUG. I don't see any evidence to support it. Ride posts on a number of forums besides TUG, and has for years, and uses the same names, etc., on those sites. Based on his numerous posts about his modest financial means, either he fooled us all, or the above info. isn't true. However, possibly he is an entrepreneur and after posting on TUG for awhile, he discovered a "business opportunity."

 

[e.bram]

Denise:
You neglect to mention ctyatty(an attorney) who used to post here and encouraged putting TSes in LLCs.
ps. The reason to put a TS in a LLC would be to shield yourself from liability if you rented(even if not, as a RE owner you could be financially responsible for a catastrophe) your TS. LLCs were created to let people go into businesses and avoid personal liability. I f they were illegal why would they have been created.

 

[DeniseM]

e.bram - You are playing word games: creating an LLC for the purpose of bankrupting it for financial gain is AGAINST THE LAW.

Again - if it's such a great deal - why haven't you done it?

 

[T_R_Oglodyte]

ps. Most of the posters are moral pontificators ...

So you're saying they're all just like you??

 

[Beefnot]

e.bram - You are playing word games: creating an LLC for the purpose of bankrupting it for financial gain is AGAINST THE LAW.

Again - if it's such a great deal - why haven't you done it?

How do we know he isnt ride's business partner?

 

[e.bram]

Denise:
You mean like Sylindra.
As Ride says, not easy to prove.

If I did , would I announce it, making it easy?

 

[DeniseM]

Denise:
You mean like Sylindra.
As Ride says, not easy to prove.

I don't know what "Sylindra" is. The resorts don't have to prove anything - they can just slap heavy fees on anyone that tries to register an LLC.

If I did , would I announce it, making it easy?

Since you've been promoting the LLC Viking Ship for years, I'd think you'd be proud to announce on TUG that you finally took your own advice and it worked. Of course, there is that one little problem - it's illegal....

 

[Beefnot]

I don't know what "Sylindra" is. The resorts don't have to prove anything - they can just slap heavy fees on anyone that tries to register an LLC.

He means Solyndra, the government-supported solar company that filed for bankruptcy last year. We will likely get a heavy dose of education on it in the months leading up to the election.

 

[e.bram]

Denise:
I meant Solyndra. Stlii don.t know?

 

[DeniseM]

Denise:
I meant Solyndra. Stlii don.t know?

Yes - but political posts aren't permitted on TUG, and you know that.

So I thought you meant Sylyndra:

 

[Ridewithme38]

Haha! I missed this whole thread!! A simple search of Ridewithme38 online will come upon thousands of posts...most of which, the reach upon topics that NO businessman would ever want associated with their name...A little more detective work will bring up a video of my car running a light on Long Island, no where near the locations of any of those LLCs...i've got to admit, as i get older i'm becoming a bit more built like Peter Griffin(From the TV Show Family Guy) But thats not me

Plus, My last name is Gale....

My brother just had a baby so the last couple weeks have been spent playing around with building a simple website....
http://nvctruth.com/majorgale/

Isn't that a cute kid!! (Oh, and if you're easily offended, i'd stay off of http://nvctruth.com )

 

[BocaBum99]

Haha! I missed this whole thread!! A simple search of Ridewithme38 online will come upon thousands of posts...most of which, the reach upon topics that NO businessman would ever want associated with their name...A little more detective work will bring up a video of my car running a light on Long Island, no where near the locations of any of those LLCs...i've got to admit, as i get older i'm becoming a bit more built like Peter Griffin(From the TV Show Family Guy) But thats not me

Plus, My last name is Gale....

My brother just had a baby so the last couple weeks have been spent playing around with building a simple website....
http://nvctruth.com/majorgale/

Isn't that a cute kid!! (Oh, and if you're easily offended, i'd stay off of http://nvctruth.com )

I think someone posted a thread on TUG that associated you with a pot smoking site. Do you inhale?

 

[Ridewithme38]

I think someone posted a thread on TUG that associated you with a pot smoking site. Do you inhale?

Haha! I haven't smoked anything in almost three years...i switch to a nicotine Vaporizer(Electronic Cigarette) and well, no longer enjoy the smoke of anything else either...burning things and inhaling them is sooo out of fashion now!

 

[Beefnot]

Haha! I missed this whole thread!! A simple search of Ridewithme38 online will come upon thousands of posts...most of which, the reach upon topics that NO businessman would ever want associated with their name...A little more detective work will bring up a video of my car running a light on Long Island, no where near the locations of any of those LLCs...i've got to admit, as i get older i'm becoming a bit more built like Peter Griffin(From the TV Show Family Guy) But thats not me

Plus, My last name is Gale....

My brother just had a baby so the last couple weeks have been spent playing around with building a simple website....
http://nvctruth.com/majorgale/

Isn't that a cute kid!! (Oh, and if you're easily offended, i'd stay off of http://nvctruth.com )

Well, this is anticlimactic. Are you sure you're not Craig or Jeff Griffen? Can you at least pretend to be?

 

[rrlongwell]

Welcome back Ride.

 

[wof45]

I have always thought it pretty funny that those with platinum weeks want to strap those with useless weeks to pay their MF.

You should take a look at all the people who have bought worthless places, or people who have lost jobs, or become sick, or become old -- and you want to make them pay your HOA lots of money to take back what they will have to take back for free after not receiving MF for the legal statute of limitations.

If your HOA does not find a reasonable fee way for people to sign over their week, you will pay the costs in the long run. If the Viking Ship model works, it is only because HOA have created no other solution.

 

[BocaBum99]

I have always thought it pretty funny that those with platinum weeks want to strap those with useless weeks to pay their MF.

It's pretty self serving, isn't it?

 

[Resort Guy]

It's pretty self serving, isn't it?

I have always thought it pretty funny that those with platinum weeks want to strap those with useless weeks to pay their MF.

You should take a look at all the people who have bought worthless places, or people who have lost jobs, or become sick, or become old -- and you want to make them pay your HOA lots of money to take back what they will have to take back for free after not receiving MF for the legal statute of limitations.

If your HOA does not find a reasonable fee way for people to sign over their week, you will pay the costs in the long run. If the Viking Ship model works, it is only because HOA have created no other solution.

I see nothing self serving in asking an owner to follow through with their obligation to pay their maintenance fees as they agreed to when they purchased their TS. Whether you bought a platinum week or not YOU agreed to follow the by-laws and accept the responsibilities of ownership. In turn, your HOA should provide quality accommodations, fiscal and legal responsibility, and an opportunity for you to take part in the operations of YOUR resort. I know of no resort that wants "those with platinum weeks to strap those with useless weeks to pay their MF." If you think platinum week owners should pay more than owners of "useless weeks" then petition your HOA to structure the fees in that manner. The point is that you chose to buy and with that comes responsibility-and hopefully value, enjoyable vacations and fond memories.

How can anyone defend the PCC or Viking Ship model? When weeks end up in Viking Ships the resorts lose on the current years MF, future MFs, and the ability to sell that week to a new owner. There is no legal statute of limitation and there is no free way to take that week back and provide clear title to a future owner without tremendous legal cost to the HOA (aka current paying owners). All of this drives MFs up despite the best efforts by the HOA to build ownership and lower costs. It becomes a vicious circle until the whole thing implodes leaving staff unemployed and owners with worthless timeshares.

I operate a very small resort and we deal with this everyday. We have a very honest and hardworking HOA/staff that sincerely works on behalf of our owners. The HOAs didn't create this situation nor can they stop it alone. We offer our owners a very reasonable way to simply give their week back to the association for a modest fee, but even with that owners still deal with PCCs. Many times people simply don't do what is in their best interest and when they don't the rest of the responsible owners should not have to bear the financial burden of someone elses' poor decisions.

How about some proactive ideas about how to stop this?

 

[Beefnot]

We need to make sure we clarify PCC and viking ship model. There are PCCs that do not use the viking ship model. Some do not transfer the deed into their name, but simply act as power of attorney to dispose of the unit on ebay...and take a HEFTY fee for doing so.

 

[AwayWeGo]

You Typed A Mouthful.

I see nothing self serving in asking an owner to follow through with their obligation to pay their maintenance fees as they agreed to when they purchased their TS. Whether you bought a platinum week or not YOU agreed to follow the by-laws and accept the responsibilities of ownership. In turn, your HOA should provide quality accommodations, fiscal and legal responsibility, and an opportunity for you to take part in the operations of YOUR resort. I know of no resort that wants "those with platinum weeks to strap those with useless weeks to pay their MF." If you think platinum week owners should pay more than owners of "useless weeks" then petition your HOA to structure the fees in that manner. The point is that you chose to buy and with that comes responsibility-and hopefully value, enjoyable vacations and fond memories.

How can anyone defend the PCC or Viking Ship model? When weeks end up in Viking Ships the resorts lose on the current years MF, future MFs, and the ability to sell that week to a new owner. There is no legal statute of limitation and there is no free way to take that week back and provide clear title to a future owner without tremendous legal cost to the HOA (aka current paying owners). All of this drives MFs up despite the best efforts by the HOA to build ownership and lower costs. It becomes a vicious circle until the whole thing implodes leaving staff unemployed and owners with worthless timeshares.

I operate a very small resort and we deal with this everyday. We have a very honest and hardworking HOA/staff that sincerely works on behalf of our owners. The HOAs didn't create this situation nor can they stop it alone. We offer our owners a very reasonable way to simply give their week back to the association for a modest fee, but even with that owners still deal with PCCs. Many times people simply don't do what is in their best interest and when they don't the rest of the responsible owners should not have to bear the financial burden of someone elses' poor decisions.

How about some proactive ideas about how to stop this?

You are correct, sir.

Not merely correct, but you have written just about the best statement on this subject I have seen on TUG-BBS.

I suspect, however, that many if not most people who bought timeshares did so with next to no thought about the responsibilities of ownership.

I'm guessing also that lots of timeshare owners, possibly most of'm, do not grasp the distinction between the timeshare resort on the 1 hand & the timeshare company (i.e., developer) on the other hand. Thus, it's easy for those folks to dump timeshares, launch viking ships, set up bogus LLCs & phony-baloney trusts, etc., because they think they're socking it to some lying timeshare company that may well deserve it, oblivious to the reality that they're actually sticking it to their fellow owners at the timeshare resort.

So it goes.

-- Alan Cole, McLean (Fairfax County), Virginia, USA.​

 

[rickandcindy23]

People have said it's not up to the exchange companies to give value to a blue or green timeshare week. I agree with that completely, always have, but RCI does give great value to some blue weeks (I don't have many examples, because I only own blue weeks in Colorado).

If you own a blue week in Colorado, you get around 18 points for it. My fees are $480 per year for that blue week (red week owners pay higher fees, but not much higher).

I can get 2-3 exchanges with those 18 points. I can travel last-minute, or I can take a couple of weeks at any Orlando resort (except Disney) in off-season.

Or I can get a prime summer Bonnet Creek week, 2 bedroom.

I can also get a week on Kauai with those 18 points. I have seen plenty of Kauai weeks for 18 points or less.

II doesn't help me much with value of any of my weeks, including the bright red ones. The only bargain is if I happen to get an XYZ exchange, which has only happened once for me, and it was Orlando. I love II for the ability to match my ongoing searches, but I pay dearly for those weeks. With RCI, I get many weeks of vacation for just my 7 weeks. It's amazing! So happy with RCI right now. It could change. :rofl:

 

[hvta]

General Manager Paulette McKee

Thank you ever so much for your post. We are very concerned about these LLC companies. We have several owners that have fallen for these deceptive scams and have notified all our owners of this "Fraud Alert".
This is an imperative situation that needs to be addressed as soon as possiable. It effects our owners and the resort in a very difficult way; The owners are out a lot of money and the resorts do not have their weeks in due paying hands. Any comments are greatly appreciated.

 

[Carolinian]

We need to make sure we clarify PCC and viking ship model. There are PCCs that do not use the viking ship model. Some do not transfer the deed into their name, but simply act as power of attorney to dispose of the unit on ebay...and take a HEFTY fee for doing so.

. . . and some of those never transfer the week to anybody if they don't get an eBay sale.