Tahiti Village

[Gord]

So I bought a one week over a decade ago and went to a presentation recently to see what my options were. I have been to many since I bought trying to get a reasonable way out. I paid 18k USD at the time and have since paid for an annual maintenance which goes up every year. The lady in Tahiti Village tried to get me to mover over to a system where I just got points for 8k more. So I said I paid 18k and with real estate going up I will sell it back to you for 6k USD. Her response is we will take it back for nothing. So I guess many of us have had similar experiences. It is just a huge rip off and the worst investment I have ever made. Not much we can do as timeshare users but warn our friends that this is not a good investment and that they do not stand behind their product.

 

[timetofly]

Yes, I think you are right. It could be worse though. You could have bought a beach condo right before the 2008 housing crisis and lost 50+% of your investment in about a year. Maybe you could trade it to someone for a different location or post it in the bargain section here to get rid of it. What week? How much are the MF? What size unit?

 

[Gord]

It is one week every odd year MF is 300usd right now. It is a large unit called the Bora Bora Thanks for the feedback

 

[rboesl]

"It is just a huge rip off and the worst investment I have ever made. Not much we can do as timeshare users but warn our friends that this is not a good investment and that they do not stand behind their product. "

I guess I'll just never understand this sentiment. Buying a timeshare interval is not a real estate investment. It's more like buying a car where the value of what you just bought drops the second you drive it off the lot. And, just like buying a car, the value we get out of it is learning how to use it to its full potential. In this case many vacations in an environment more conducive to relaxing and enjoying yourself than the typical hotel.

Maybe the difference is that with a car you know it's value depreciates immediately and for a timeshare someone led you to believe it's real estate that will hold or increase in value.

 

[Gord]

so true thanks

 

[WVBaker]

Welcome to timeshares, where the best lessons learned are from the mistakes we make.

Tahiti Village is, for what's it's worth, one of the better resorts in Las Vegas. Just me but, I don't no of any timeshare resort that will pay you to take a unit back. Giving it back for nothing would however, save you the maintenance fees each year. You may want to try to sell it, take your losses and move on. You will never get 6k for it though. Another option would be to place the unit on the
rental market and try to recover some, if not all, of the maintenance fee.

Las Vegas can be a good area for rentals if done right. Your job would be to learn the rental market in that area. See what others are renting their units, which are comparable to yours, for. Learn the busiest times for visitors and secure one of those weeks. Learn how to price it and where to advertise the unit.

You're not going to get rich but, you should be able to bring in enough to cover the maintenance fee.

 

[goaliedave]

"It is just a huge rip off and the worst investment I have ever made. Not much we can do as timeshare users but warn our friends that this is not a good investment and that they do not stand behind their product. "

I guess I'll just never understand this sentiment. Buying a timeshare interval is not a real estate investment. It's more like buying a car where the value of what you just bought drops the second you drive it off the lot. And, just like buying a car, the value we get out of it is learning how to use it to its full potential. In this case many vacations in an environment more conducive to relaxing and enjoying yourself than the typical hotel.

Maybe the difference is that with a car you know it's value depreciates immediately and for a timeshare someone led you to believe it's real estate that will hold or increase in value.

"Investment" *smh .

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