What do I lose going resale?

[cayman01]

I too am a newbie to TUG, but have long figured out that re-sale is the way to go as far as timeshares are concerned. I realize that I cannot be considered a VIP member with all resale points but what does that actually mean? What am I losing out on?

Specifically I am interested in getting more bang for my buck. With resale points am I allowed to take advantage of discounts at 60 days or less? Will that go away at some point? I have been told both yes and no so i decided to ask here. Thank you.

 

[taterhed]

I too am a newbie to TUG, but have long figured out that re-sale is the way to go as far as timeshares are concerned. I realize that I cannot be considered a VIP member with all resale points but what does that actually mean? What am I losing out on?

Specifically I am interested in getting more bang for my buck. With resale points am I allowed to take advantage of discounts at 60 days or less? Will that go away at some point? I have been told both yes and no so i decided to ask here. Thank you.

Welcome. Start by reading the stickies (for Wyndham) http://tugbbs.com/forums/showthread.php?t=128302

The benefits of purchasing from the developer are minuscule compared to the cost. If you want the benefits of Wyndham VIP's without spending $$$$ there are ways to do that too (WinPoint VIP--not promoting them, just sayin...).

Study up, get advice from the members and owners here on TUG.
You'll be very glad you did.

SPOILER ALERT: you loose virtually nothing!

 

[ronparise]

the benefits of VIP are the discounts at 60 days, the free upgrades, the unlimited housekeeping and transaction credits, the increased number of guest confirmations and free delivery of a newspaper each morning

Buying resale won't get you there

The benefits are real but it's hard to justify spending the money you have to spend to get them
.

 

[chapjim]

The benefits are real but it's hard to justify spending the money you have to spend to get them
.

I agree that if you are starting at zero -- no ownership whatsoever -- shooting for any level of VIP is not prudent.

However, if you already have let's say 500,000 developer points, you may find the calculus changes. Acquiring another 500K developer points (or PICing some of them) to get to VIP Platinum may make sense. After the 1 million mark, you can concentrate on acquiring large, low maintenance fee resale contracts and get yourself into a Parise-like rental business.

If family vacations are what you have in mind, resale points or rentals are the way to go.

 

[ronparise]

I agree that if you are starting at zero -- no ownership whatsoever -- shooting for any level of VIP is not prudent.

However, if you already have let's say 500,000 developer points, you may find the calculus changes. Acquiring another 500K developer points (or PICing some of them) to get to VIP Platinum may make sense. After the 1 million mark, you can concentrate on acquiring large, low maintenance fee resale contracts and get yourself into a Parise-like rental business.

If family vacations are what you have in mind, resale points or rentals are the way to go.

Or a Chapjim- like rental business

Jim is right, if you want to make a rental business of any size out of this, it may make sense to figure out a way to get to platinum. but even then its tough to justify the purchase of a million plus developer priced points.

For the family, if you need more points, the secondary market is the place to be. You'll need twice the points to make up for not having the 50% discount and your maintenance fees on a 2 million point account will be about $6000 more than on a 1 million point account, but it wont cost you the $50000 to $100,000 to buy the points needed platinum status

 

[vacationhopeful]

Re-read the prior posters comments (Rob, Ron and Jim) ... they are being very honest.

Many TUGGERs brought some of their ownerships from the developer. A few have only brought resale OR started with a relative's ownership. eBay and the internet changes HOW the younger people buy (if they buy any TS at all).

The guys above and I own some Wyndham points...but we all KNOW that Member's Directory by line & verse. I serious suggest YOU read the online Member's Directory for the words... yes, it is a picture book with points charts ... but the words describe the rules YOU would be buying into. Then, play some "what if" ... vacation bookings for your family.

No, you will never get FREE UNIT upgrades but some of the lesser resorts in lesser seasons will offer booking discounts via the "Resort Specials" ticker-tape square within 60 days of checkin on the website.

You might do far better renting from a Platinum VIP for those same reservations .. no HKs, no RTs and a 50% discount would make up for the $99 GC and their profit (discount plus possible unit upgrade).

But I don't like playing Russian roulette with the VERY HIGH demand weeks I book using ARP. Additionally, many of my weeks are Fixed Weeks ... no discounts.

Yes, I have FIXED WEEKS at many Wyndham resorts ... and some non-Wyndham properties. My sister was surprised the beaches in South Florida are pretty nice in July ...esp as most breezes come onshore from the ocean. The one resort is a VRI property and exchanges via VRI, II and RCI... plus all the 2/2 units are lockoffs (a non-Wyndham property).

So ... keep reading. LEARN a lot more. Rent at a resort or 2 before buying ... I won't go into the "PINK" resort story where I brought my first TS in ... but I was in tears, the entire UNIT was PINK (or mauve) when I opened the door. Had an ocean view which was not pink.

 

[taterhed]

I too am a newbie to TUG, but have long figured out that re-sale is the way to go as far as timeshares are concerned. I realize that I cannot be considered a VIP member with all resale points but what does that actually mean? What am I losing out on?

Specifically I am interested in getting more bang for my buck. With resale points am I allowed to take advantage of discounts at 60 days or less? Will that go away at some point? I have been told both yes and no so i decided to ask here. Thank you.

Just realized--reading your post again--do you already own? What are your goals? If you're an owner, post your positions, wants and desires for better advice. If you're not, consider posting the 'new to timesharing' questions to get specific advice on how to achieve your goals.
cheers.

 

[chapjim]

Or a Chapjim- like rental business

Jim is right, if you want to make a rental business of any size out of this, it may make sense to figure out a way to get to platinum. but even then its tough to justify the purchase of a million plus developer priced points.

For the family, if you need more points, the secondary market is the place to be. You'll need twice the points to make up for not having the 50% discount and your maintenance fees on a 2 million point account will be about $6000 more than on a 1 million point account, but it wont cost you the $50000 to $100,000 to buy the points needed platinum status

One thing to consider if you have in mind going the rental route. Managing a multi-million point account or accounts takes an enormous amount of time. You can't believe the number of (1) people who send emails that you respond to but never hear from again, (2) totally dumba$$ questions, (3) blatant misrepresentations like why are you renting this for $1,300 when I've rented at the same place for $350? (4) people who want your off-season rate in prime time.

Looking for reservations that might sell, doing the bookkeeping, cash management, etc.

And on and on.

 

[vacationhopeful]

...You can't believe the number of
(1) people who send emails that you respond to but never hear from again,
(2) totally dumba$$ questions,
(3) blatant misrepresentations like why are you renting this for $1,300 when I've rented at the same place for $350?
(4) people who want your off-season rate in prime time.

....<snip>

Jim,
Have you HACKED my email accounts???
The ones you have missed are
(5) I want to rent your unit but MY BUDGET is only $350 for a holiday week.
(6) My spouse and I will take the STUDIO sleeping 2 as my triplets are only 5 years old and can sleep on the floor.
(7) I can not stay in this STUDIO as my spouse snores and we watch different TV shows (and there is only 1 TV).
(8) The resort calls and tells you YOUR guests for last week are there NOW. What do YOU want to do?

 

[Bigrob]

Jim,
Have you HACKED my email accounts???
The ones you have missed are
(5) I want to rent your unit but MY BUDGET is only $350 for a hioliday week.
(6) My spouse and I will take the STUDIO sleeping 2 as my triplets are only 5 years old and can sleep on the floor.
(7) I can not stay in this STUDIO as my spouse snores and we watch different TV shows (and there is only 1 TV).
(8) The resort calls and tells you YOUR guests for last week are there NOW. What do YOU want to do?

It's the calls like number 8 that keep me up at night.

to the OP:

resale points added to a pre-existing VIP account enjoy the same discounts and upgrade opportunities as the developer points, but the added resale points won't raise your VIP level. This might have been what you heard, that resale points could qualify for the discounts. Otherwise, the only discounts are the "resort specials" Linda mentions.

 

[bnoble]

What do I lose going resale?

Nothing that could justify the cost of entry for someone looking to buy for personal use.

 

[cayman01]

where we stand

Just realized--reading your post again--do you already own? What are your goals? If you're an owner, post your positions, wants and desires for better advice. If you're not, consider posting the 'new to timesharing' questions to get specific advice on how to achieve your goals.
cheers.

I had flirted with DVC a few years ago, but did not purchase. I didn't like the limited number of options as far as places to stay. The price point is a lot better with Wyndham . I have stayed at various DVC resorts in Orlando along with Bonnet Creek, but I am over the Disney thing so looking to branch out. The thing that appeals to me is the upgraded resorts, not staying in a hotel room.

I own nothing at this point. Just trying to wade thru the info and see what works for me. Not going to buy direct from anybody that I choose. But still want as much bang for my buck.

One thing that may make a difference is we are not the type to plan a year in advance. We could, but its something we have ever done. We are more like a " oh, lets go there" bunch a couple months before we go.

Had considered the idea of renting out points to counter MF's and end up with "free" vacations, but not sure how good of a market there is with Wyndham. DVC is a VERY active market, very easy to sell points or rent weeks for people.

Would be very interested to learn how to extend points without 60 day VIP option.

 

[chapjim]

Had considered the idea of renting out points to counter MF's . . . .

I'm pretty sure most Wyndham owners will agree that the best use of Wyndham points is making reservations at Wyndham resorts.

Other uses -- maintenance fees, cruises, hotels, banking with RCI, etc. -- are less efficient. They may be useful at the end of a use year to avoid losing the points but I don't think they should be part of an owner's plans.

 

[ronparise]

I had flirted with DVC a few years ago, but did not purchase. I didn't like the limited number of options as far as places to stay. The price point is a lot better with Wyndham . I have stayed at various DVC resorts in Orlando along with Bonnet Creek, but I am over the Disney thing so looking to branch out. The thing that appeals to me is the upgraded resorts, not staying in a hotel room.

I own nothing at this point. Just trying to wade thru the info and see what works for me. Not going to buy direct from anybody that I choose. But still want as much bang for my buck.

One thing that may make a difference is we are not the type to plan a year in advance. We could, but its something we have ever done. We are more like a " oh, lets go there" bunch a couple months before we go.

Had considered the idea of renting out points to counter MF's and end up with "free" vacations, but not sure how good of a market there is with Wyndham. DVC is a VERY active market, very easy to sell points or rent weeks for people.

Would be very interested to learn how to extend points without 60 day VIP option.

You cant get VIP discounts buying resale, but there are ways to stretch your points

In the Wyndham system Fridays and Saturdays are more expensive than the other 5 nights of the week and Value season is much cheaper than prime season

So, The one way to extend points is to do "5 night weeks" in the off season and stay in a one bedroom instead of a 2 bedroom

a two bedroom week at Bonnet Creek is 224000 points in prime season
a one bedroom 5 nights, Sun thru Friday in Value Season is 45000 points
(the week before christmas is a Value season week)

Stretch things a little further by staying at Cypress Palms instead of Bonnet Creek .. a one bedroom for those same 5 nights here is 35000 points

 

[paxsarah]

One thing that may make a difference is we are not the type to plan a year in advance. We could, but its something we have ever done. We are more like a " oh, lets go there" bunch a couple months before we go.

We definitely put into practice what Ron said about five-night weeks. Several times, we've stayed five nights at Myrtle Beach during our March spring break for very low points.

Which brings me to an additional comment about the above. If you're not tied to a traditional school schedule, planning a couple months out might be doable. But if you're mainly going to travel around holidays and summers, 10-13 months is going to be more necessary. We've ended up doing a combination of both - we've used ARP to go to Myrtle Beach in the summer planning 13 months out, but we can take a random weekend in TN, NC, or FL at off times on shorter notice. We also do most of our traveling by car, but if you're flying, you'll have a lot more options in the off-season.

 

[chapjim]

Jim,
Have you HACKED my email accounts???
The ones you have missed are
(5) I want to rent your unit but MY BUDGET is only $350 for a holiday week.
(6) My spouse and I will take the STUDIO sleeping 2 as my triplets are only 5 years old and can sleep on the floor.
(7) I can not stay in this STUDIO as my spouse snores and we watch different TV shows (and there is only 1 TV).
(8) The resort calls and tells you YOUR guests for last week are there NOW. What do YOU want to do?

How could I forget (5)??

Strange, but I've never had any of the other three happen. (8) is unfortunate but I don't see it being the owner's problem unless the owner gave the renter bum dope.

 

[ronparise]

we should write a book

 

[bnoble]

One thing that may make a difference is we are not the type to plan a year in advance. We could, but its something we have ever done. We are more like a " oh, lets go there" bunch a couple months before we go.

You might be better off renting than owning.

Had considered the idea of renting out points to counter MF's and end up with "free" vacations, but not sure how good of a market there is with Wyndham. DVC is a VERY active market, very easy to sell points or rent weeks for people.

This is not something that is easy to do casually. Most people who rent well are serious about it.

And, even the DVC strategy of "buy twice as much as you need and rent half" has a much lower ROI than you'd imagine, once you work it all out---low-to-mid single digits and it is a lot of work. You're probably better off investing the extra principal you'd need to spend on the "second half" of the points.