Secondary market Abound Points

[Wahoo Josh]

Does Marriott include such points for your "level?". For example, if I buy 2,750 more points, I would have over 7,000 points. Would I realize Executive level benefits or stay Select level?

 

[ljmiii]

Does Marriott include such points for your "level?". For example, if I buy 2,750 more points, I would have over 7,000 points. Would I realize Executive level benefits or stay Select level?

You would be Executive...though as part of the purchase process you would have to pay MVC their 'activation fees' of just over $3/point.

 

[Wahoo Josh]

Thank you!

We were offered 3,000 points for about $40,300 at Ocean Watch today. 25% off the standard rate of $17.94 per point (due to renovation noise at Ocean Watch). The deal would include 9,000 club points to use over the next two years.

The salesman emphasized the ability to use points, make a reservation and rent it out on VRBO. For example, book 5,000 points for our travel, use 2,000 for rental reservations to defray some of the maintenance fees.

He also stated that secondary market points would not be included to determine our level.....I did not argue, just listened.

 

[Hindsite]

The salesman emphasized the ability to use points, make a reservation and rent it out on VRBO. For example, book 5,000 points for our travel, use 2,000 for rental reservations to defray some of the maintenance fees.

Its worth reading the latest MVW investor presentation transcript for the specific comments about cracking down on commercial rentals of reservations made using club points as you'd run the risk of getting caught in that if you bought to rent out. I don't believe sales have quite got to the stage of selling such packages and then reporting customers for commercial rental, but I wouldn't be surprised if some do that if given a bounty by corporate to report people. If you want to be a landlord, there are far more lucrative ways to do that then timeshares, save your investment money for something more reliable.

He also stated that secondary market points would not be included to determine our level.....I did not argue, just listened.

Typical sales lie, as ljmiii said, you just pay the MVC initiation fee of $3/club point (min $3k) and you're all sorted with reals club points that work just the same as the ones they tried to sell you at $17.94. So you could probably get them resale for $7/club point all in at the worse, and possibly as low as $4/club points, depending on how persistent you want to be.

 

[davidvel]

Thank you!

We were offered 3,000 points for about $40,300 at Ocean Watch today. 25% off the standard rate of $17.94 per point (due to renovation noise at Ocean Watch). The deal would include 9,000 club points to use over the next two years.

The salesman emphasized the ability to use points, make a reservation and rent it out on VRBO. For example, book 5,000 points for our travel, use 2,000 for rental reservations to defray some of the maintenance fees.

He also stated that secondary market points would not be included to determine our level.....I did not argue, just listened.

Why would you buy something just to rent it out to partially repay the mf you owe on that thing? Sounds like the dumbest strategy, unless you are trying to waste money. How slimy is the person selling that?

 

[dioxide45]

Thank you!

We were offered 3,000 points for about $40,300 at Ocean Watch today. 25% off the standard rate of $17.94 per point (due to renovation noise at Ocean Watch). The deal would include 9,000 club points to use over the next two years.

The salesman emphasized the ability to use points, make a reservation and rent it out on VRBO. For example, book 5,000 points for our travel, use 2,000 for rental reservations to defray some of the maintenance fees.

He also stated that secondary market points would not be included to determine our level.....I did not argue, just listened.

Did your salesperson's first name start with a T?

 

[TheTimeTraveler]

Does Marriott include such points for your "level?". For example, if I buy 2,750 more points, I would have over 7,000 points. Would I realize Executive level benefits or stay Select level?

By them on the resale market and save yourself a bucket of money..........















.

 

[Wahoo Josh]

Did your salesperson's first name start with a T?

No - it starts with "S."

 

[dioxide45]

No - it starts with "S."

Okay. It wasn't the same person we had at OceanWatch that was pushing the same rental method. Though our salesperson was saying to use Facebook Marketplace and Groups.

 

[DRH90277]

I asked the OWatch salesperson what to expect in the way of value per point in making rentals if one had "a purely points portfolio". His response was over $2.00 per point at the time and he touted the great returns from renting vacations acquired using points. In summary, his assessment was that one could more than double the maintenance fee cost per point by renting.

I think he and the sales force are way off and suspect the real deal is maybe up to 1.5 times the MF and probably closer to 1 to 1.25 times. Any views from those of you who have rented would be appreciated.

I don't really think those using points for rentals are much of a threat to the timeshare points model. I'm still looking for this genius who has retired to live on his rentals from points transactions.

 

[dioxide45]

I'm still looking for this genius who has retired to live on his rentals from points transactions.

If the salespeople are really doing it, they aren't the geniuses that have been able to retire. Apparently working the sales game is still a more meaningful money making endeavor. Otherwise they would be retired.

 

[bazzap]

Thank you!

We were offered 3,000 points for about $40,300 at Ocean Watch today. 25% off the standard rate of $17.94 per point (due to renovation noise at Ocean Watch). The deal would include 9,000 club points to use over the next two years.

The salesman emphasized the ability to use points, make a reservation and rent it out on VRBO. For example, book 5,000 points for our travel, use 2,000 for rental reservations to defray some of the maintenance fees.

He also stated that secondary market points would not be included to determine our level.....I did not argue, just listened.

Apart from the crackdown on commercial rentals already mentioned, there are specific “warnings” to be aware of at some resorts, e.g. in Thailand about using VRBO and others.
“We want Club Members to know that a recent Thai court ruling has confirmed that listing or renting by hosts of overnight or weekly stays in a condominium on Airbnb is illegal. Violations of local law may result in prosecution by local authorities as well as immediate cancellation of Club membership. Please kindly note that use of your Club Points for participation in Airbnb, VRBO, HomeAway or other similar types of overnight or weekly arrangement stays at any Marriott Vacation Club property in Thailand would be a violation of local law.”


Sent from my iPad using Tapatalk

 

[Hindsite]

use of your Club Points for participation in Airbnb, VRBO, HomeAway or other similar types of overnight or weekly arrangement stays at any Marriott Vacation Club property in Thailand would be a violation of local law.”

..and the local regulators will be more than happy to pursue MVC for violations and not be at all bothered by wasting time with individual owners, so MVC will be very tight on enforcement.

 

[kozykritter]

Apart from the crackdown on commercial rentals already mentioned, there are specific “warnings” to be aware of at some resorts, e.g. in Thailand about using VRBO and others.
“We want Club Members to know that a recent Thai court ruling has confirmed that listing or renting by hosts of overnight or weekly stays in a condominium on Airbnb is illegal. Violations of local law may result in prosecution by local authorities as well as immediate cancellation of Club membership. Please kindly note that use of your Club Points for participation in Airbnb, VRBO, HomeAway or other similar types of overnight or weekly arrangement stays at any Marriott Vacation Club property in Thailand would be a violation of local law.”


Sent from my iPad using Tapatalk

If they want Club members to "know" about the rental restrictions anywhere, why would they just mention it in an earnings presentation that only fraction of owners (us!) will ever know about? You think they would put out a mass email or a pop up on the website or something if they were serious about it...at least take some action that might be effective and also show a good faith effort in case they ever get named in a legal action about it. Makes no sense!

 

[jellen613]

Why would you buy something just to rent it out to partially repay the mf you owe on that thing? Sounds like the dumbest strategy, unless you are trying to waste money. How slimy is the person selling that?

That has been the tactic since at least 2019, buy more, then rent out some to cover your maintenance fees. Every presentation we have attended they have said this. They say the benefits of executive are worth this scenario.
I don't want to work so hard to maintain a "vacation portfolio". I will muddle through at the "select" owner level, and still get great vacations. We almost fell for it in 2019, however rescinded and have no intention of ever adding more weeks/points. If we need more points, we can rent them.

 

[ljmiii]

If they want Club members to "know" about the rental restrictions anywhere…

MVW doesn’t want Club members to know. And they very much don’t want prospective Club members to know.

However, they are legally required to inform investors of material conditions that may adversely affect their business. And so investors get to know.

 

[Wahoo Josh]

My sales guy said the Chairman level owners he knows use some points and always rent some points. He was just probing for an opening, as I mentioned the maintenance fees as an obstacle (duh!) for owning more points.

However, the real obstacle against buying more points from MVC is the freaking purchase price. I'm not tossing $40K to them.

 

[davidvel]

That has been the tactic since at least 2019, buy more, then rent out some to cover your maintenance fees. Every presentation we have attended they have said this. They say the benefits of executive are worth this scenario.
I don't want to work so hard to maintain a "vacation portfolio". I will muddle through at the "select" owner level, and still get great vacations. We almost fell for it in 2019, however rescinded and have no intention of ever adding more weeks/points. If we need more points, we can rent them.

Of course the flaw in the logic, even if you wanted to do rentals, is you always lose more buying more, as you can never cover the upfront cost and MF. It is a smoke and mirrors pipe dream, wholly lacking in financial logic. They will never lay this out on paper and show the math, as it doesn't work.

 

[TheTimeTraveler]

My sales guy said the Chairman level owners he knows use some points and always rent some points. He was just probing for an opening, as I mentioned the maintenance fees as an obstacle (duh!) for owning more points.

However, the real obstacle against buying more points from MVC is the freaking purchase price. I'm not tossing $40K to them.

Don't waste your time with points. Buy resale weeks instead! More bang for the buck.












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[winger]

Okay. It wasn't the same person we had at OceanWatch that was pushing the same rental method. Though our salesperson was saying to use Facebook Marketplace and Groups.

But S & T are 'neighbors' so they likely chit chat all the time

 

[Fasttr]

But S & T are 'neighbors' so they likely chit chat all the time

Wouldn't that be $hit Chat?

 

[kozykritter]

Well they went with the pop up notification of the policy whenever you go to search to make a reservation and they've added a new confirmation statement that you have to check to complete the reservation.