Why own lots of timeshares?

[jules54]

We own multiple weeks because we have the timeshare monkey on our backs.
I do own a lot. 13 contracts at the same resort in Playa Del Carmen, MX no where quite like it. Beachfront units. Now that we are retired we stay the winter there. I’m in the process of selling 2 of my contracts there. Other owners who simply wanted more time.
The last few years I’ve been buying winter weeks from other owners and renting them. Last winter 22 units Jan.20-March 11. I decided the whole thing has gotten way out of hand. I’m busy the entire time I’m there trying to get the best rooms and explaining added taxes and resort fees. It’s too stressful. Plus other owners are either wanting to know what to do or bitching behind my back because I have all the good rooms. I can barely carry on a conversation with anyone that doesn’t include timeshare talk. lol.

I own Wyndham points which I used to rent out reservations with those. That has come to a halt after Wyndham decided to change the rules and call us Mega Renters. Since many of my contracts were affliate resorts they are slowly expiring so my ownership level and benefits that came with that are expiring also.

Grand Crowne in Branson 6 contracts there that are points through Interval. Excellent exchange power. Only personal and family use there as it is again II rules to rent exchange fees even to just cover the cost.

Grand Lodge at Peak 7 in Breckenridge is my new favorite. I love the resort in summer. Some of my kids live in Denver and love to ski. Resort trades through Interval so I can use my points account from my Grand Crowne to trade into there often. Plus they allow pets which my kids love. They spent 4 ski weeks there in 2023 and worked from there.

Long story I love my timeshares. I’ve got all but my first either resale or most of my weeks people gave to me. Travel is my only hobby. I’ve made some money and really have never lost any. It’s way cheaper than maintaining a condo by the ocean or in the mountains. When you stay at a resort you don’t have to clean or even cook if you don’t choose to. It’s heaven.

We are in the process of buying an RV toy hauler. We will see how that works out with my timeshares. Hopefully it blends together well.

 

[sctug]

Excuse my ignorance...I am new to this timeshare world. I see people posting about being owners of 20+ timeshares and see also that most profiles people owns 5-6 timeshares. Is this for business purposes? Unless you are a wealthy retiree who can afford paying maintenance fees, taxes etc for a large amount of timeshares? Can someone please provide some commentary about the reasoning/business for owning more than 2 timeshares?

That's what I was wondering too.

 

[sctug]

Can we exchange or sales the unit that we obtain from II exchanged or getaway?

 

[sponger76]

Can we exchange or sales the unit that we obtain from II exchanged or getaway?

You can pay for a guest certificate to allow a family member or friend stay in a unit obtained from II. But you CANNOT rent it. When either exchanging into a unit or purchasing it as a Getaway, the terms that you click as agreeing to state that you are not able to rent it. The stay can be canceled and your II account canceled if they find out you are renting it out. Getaways are final, but there are ways (such as purchasing E-Plus) to re-exchange a stay into a different one.

 

[sctug]

I appreciate you taking the time to explain this. Yeah it's good to get E-Plus, but sometimes the inventory is very limited at II and don't have exactly what we need, can we exchange it on tugs with other members?

 

[sponger76]

I appreciate you taking the time to explain this. Yeah it's good to get E-Plus, but sometimes the inventory is very limited at II and don't have exactly what we need, can we exchange it on tugs with other members?

You could try, but is extremely difficult to find an individual owner who wants what you have who also happens to have something you want.

 

[CPNY]

Excuse my ignorance...I am new to this timeshare world. I see people posting about being owners of 20+ timeshares and see also that most profiles people owns 5-6 timeshares. Is this for business purposes? Unless you are a wealthy retiree who can afford paying maintenance fees, taxes etc for a large amount of timeshares? Can someone please provide some commentary about the reasoning/business for owning more than 2 timeshares?

more timeshares = more usage options. I own multiple timeshares to combine the "points" for more frequest trips and larger accommodations.

My combined Maint fees are around $3700 annually. I have 4 annual and 2 EOY units. I can take 5-6 weeks in a one bedroom or 3-4 in a two bedroom or larger. One week vacation in a hotel will be close to what I am paying in annual fees for 5-6 weeks.

 

[chapjim]

more timeshares = more usage options. I own multiple timeshares to combine the "points" for more frequest trips and larger accommodations.

My combined Maint fees are around $3700 annually. I have 4 annual and 2 EOY units. I can take 5-6 weeks in a one bedroom or 3-4 in a two bedroom or larger. One week vacation in a hotel will be close to what I am paying in annual fees for 5-6 weeks.

It turns out that I was doing some analysis of my annual maintenance fees yesterday PM. My annual total is a little over $34,000. The largest part of that is Wyndham, over $20,000/year. Befpre getting "the letter" from Wyndham in October 2021 and selling off some Wyndham contracts, my annual Wyndham fees were over $34.000.

There are TUGGERs with numbers that would dwarf mine.

I'm may list for sale a couple Wyndham contracts and five fixed or floating contracts that we never use but have rented out over the years.

Since I retired at the end of September 2021, we've used what we own much more than before (Covid excepted -- I teleworked from all kinds of locations during Covid). January 1-June 30 is 181 days. We will have been away from home for 91 of the 181 days. Again, there are TUGGERs with much more impressive numbers than mine.

 

[JFriedler]

We own a combination of DVC, Wyndham, The Tree Tops Gatlinburg Resort and Coral Sands/RCI. We wanted options. For the most part we use 85% of what we own and roll over some or trade a vacation with our cat/House sitter. We're considering trying to give away our Coral Sands because we use that the least amount. Its a tri annual where as the rest of ours are annual and we forget about it often even though we get yearly RCI points. I think the reasons vary across the board as to why so many timeshares. We personally like sneaking away for long weekend regularly as well as at a week every 3-4 months. It just works well for us.

 

[TravelJoy]

Some own for commercial rental operations. Some own to use and rent out other weeks to cover all their fees so they can vacation for "free". Others own to give to family or friends, but I would say that most who have 20+ weeks are doing commercial rentals for profit. There are some exceptions though.

I have contemplated doing the flip timeshare bit just to gain some free vacations, but always seemed like it was more trouble then it was worth, especially given the timeshare presentation promos galore. Something like hgvc etc…a hassle free way to save 50%+

What is the most you have heard anyone make from this as a individual, not a full blown corporation. Do you think it’s a viable method for someone to attempt gathering for the first time in 2023 or is it too late in the game.

 

[DeniseM]

There are a number of people in this thread who have discussed their experience with renting timeshares, so you may want to go back and look at those posts.

 

[TravelJoy]

The difference between the mf and amount you can rent a timeshare for depends on factors like season, events and location. Often times a timeshare will hit many boxes in the factors and will rent well. I have been able to rent a Mexico beach week in winter season for 3 times our mf. I have also had to deal with other peoples problems which became my problems is why I don't care to rent our timeshares.

Bill

What are some of the more dramatic issues you have encountered. can you give some more insight into what the lucrative Mexico timeshare is or is it privileged.

 

[TheTimeTraveler]

What are some of the more dramatic issues you have encountered. can you give some more insight into what the lucrative Mexico timeshare is or is it privileged.

It may have more to do with the cost of money in the USA versus Mexico..... i.e. things are far cheaper in Mexico in general. Your dollar goes further.

You may want to check out the Mexico thread and post your questions there.





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[Xmasbaby77]

We own 2 weeks in Hawaii (one at Marriott Maui Napili and one at Waiohai), an every other year oceanfront at Marriott Kauai Beach Club, and 3000 points. We always spend two weeks in Hawaii every year and one the years we use Kauai Beach Club, we turn one of our weeks into points and travel elsewhere. We have visited almost all of the Marriot Timeshare locations and particularly enjoy Palm Desert, Newport Beach and the Pulse Clubs in San Diego and New York. The main advantage of timeshare ownership for us is that it FORCES us to take vacation time. A second advantage is that it is a significant savings over the cost of hotel stays. I have kept track since 2005 and the cost saving over renting the same units at the Bonvoy rates is in excess of $100,000, even including the purchase prices of the timeshares we bought, most of which were on resale.

Thanks for your post. I'm getting ready to buy a Marriott Kauai Beach Club ocean front yearly legacy week. I've been to this resort a lot (my ex owned a Marriott Desert Springs week, which we often traded for a week a the KBC.) If I buy this resale week, am I correct in that I can use it annually or trade it in Interval as did my ex with his MDS week?

 

[easyrider]

What are some of the more dramatic issues you have encountered. can you give some more insight into what the lucrative Mexico timeshare is or is it privileged.

Nothing dramatic level regarding problems. Just the usual crap like guests thinking no refunds or changes policy doesn't apply to them. The info isn't privileged and I often share it with members that support tug by joining.

Bill

 

[vacationtime1]

Thanks for your post. I'm getting ready to buy a Marriott Kauai Beach Club ocean front yearly legacy week. I've been to this resort a lot (my ex owned a Marriott Desert Springs week, which we often traded for a week a the KBC.) If I buy this resale week, am I correct in that I can use it annually or trade it in Interval as did my ex with his MDS week?

Yes, but it would almost certainly be a downtrade.

It is highly unlikely that what you receive in your trade would be comparable to an oceanfront unit in Hawaii. You will get other Marriotts in Hawaii, but without the view guarantee.

From a cost standpoint, the trade is also a poor one. Your cost is about $3,000 (MF's, Interval membership, trade fee). The rental value of what you receive is likely to be less.

I'm not saying not to buy the KBC unit; we owned on OF unit there for ~10 years and enjoyed it a lot. But don't buy it as a trader.

 

[jehb2]

We own four Hilton timeshares which translates into six weeks. All of our timeshares are 20+ years old. So, even the ones we bought from the developer are pretty cheap, especially by today’s standards. Our usual vacation was four weeks in Hawaii. But then we started branching out to trips that included New York city & Canada; Canada & Hawaii; California & Hawaii. Before Covid we did five weeks in Europe, and another trip was three weeks in Japan. Most trips at some point will include family and friends.

Recently, my brother wanted me to organize an Hawaiian vacation for him (no I’m not a travel agent. I’m just his little sister.) I went into major sticker shock. It’s not like he couldn’t afford it but it was a shock to my system how much the typical Hawaiian vacation cost if you stay at a hotel and have to eat out at restaurants a lot. In the end I just let him use two of my Hawaii weeks.

 

[TravelJoy]

We own four Hilton timeshares which translates into six weeks. All of our timeshares are 20+ years old. So, even the ones we bought from the developer are pretty cheap, especially by today’s standards. Our usual vacation was four weeks in Hawaii. But then we started branching out to trips that included New York city & Canada; Canada & Hawaii; California & Hawaii. Before Covid we did five weeks in Europe, and another trip was three weeks in Japan. Most trips at some point will include family and friends.

Recently, my brother wanted me to organize an Hawaiian vacation for him (no I’m not a travel agent. I’m just his little sister.) I went into major sticker shock. It’s not like he couldn’t afford it but it was a shock to my system how much the typical Hawaiian vacation cost if you stay at a hotel and have to eat out at restaurants a lot. In the end I just let him use two of my Hawaii weeks.

So if you don’t mind me asking how much do those 4 Hilton timeshares cost you yearly. While I understand your timing was great for purchase how close do you think someone just starting out can get close to your cost basis.

 

[CO skier]

Excuse my ignorance...I am new to this timeshare world. I see people posting about being owners of 20+ timeshares and see also that most profiles people owns 5-6 timeshares. Is this for business purposes? Unless you are a wealthy retiree who can afford paying maintenance fees, taxes etc for a large amount of timeshares? Can someone please provide some commentary about the reasoning/business for owning more than 2 timeshares?

There are really only two answers: To try to profit from rentals or to go on spectacular vacations (or a rare hybrid of the two). We are the latter owning in two point systems for spectacular vacations. We also have an RCI membership which provides extra flexibility for additional low-cost personal vacations. Some years we book 2-4 Extra Vacations through RCI, other years 12+ extra weeks, with no ongoing maintenance fees. $400-$500/week makes it sooo affordable for us non-wealthy retirees, and way less for the equivalent maintenance fees. Paradise.

 

[CO skier]

So many of us on this site are diehard, knowledgable timeshare owners/users, but for the vast majority of people (90%+), timeshares are a big waste of time and money.

Would you please post your source for that completely BS and exaggerated statistic?

 

[MOXJO7282]

At least with high demand Marriotts it is quite easy to own multiple Marriott TSs in a use/rent model, where you can use X amount of weeks and rent X amount of weeks, to make a profit, break even or just offset your vacation costs. We own 32 Marriott TSs, down from 48 from only a few years ago, and we are able to cover all our travel costs and then some, with our use/rent model. With the weeks we own and rent in Maui, HHI, So Cal, and USVI, we've never rented for less than the unit's maintenance fees, most of the time much more than MFs. It does take an initial investment to buy into the program but its well worth it. My advice has always been for anyone looking to get into the Marriott program is to buy extra weeks beyond what you want to use so they can rent to offset their vacation costs.

 

[CO skier]

My advice has always been for anyone looking to get into the Marriott program is to buy extra weeks beyond what you want to use so they can rent to offset their vacation costs.

Terrible advice. Better advice is to buy what you will use for your own vacations, in any timeshare system. Keep it simple.

 

[MOXJO7282]

Terrible advice. Better advice is to buy what you will use for your own vacations, in any timeshare system. Keep it simple.

If you're talking enjoying high demand, high season Marriotts, I believe your advice is not a wise use of your money. I say this because you can rent anything you want nowadays with a better return on your money than buying an expensive Marriott timeshare. My full advice would be if you want to enjoy a high demand Marriott TS, is to either rent them year by year and not make the big investment or buy additional weeks to rent, to actually build a nice ROI for your investment. If you're one of those people that have a problem with owners renting their weeks then that is your issue because its well within an owner's rights but as far as buying a Marriott TS this is my opinion and I know many that have successfully taken this approach as well.

 

[rickandcindy23]

Terrible advice. Better advice is to buy what you will use for your own vacations, in any timeshare system. Keep it simple.

My opinion is different from yours, apparently. We do have timeshares we rent, and it does pay for our vacations. Works great. I am not talking Wyndham, I am talking deeded weeks in Myrtle Beach at Sheraton and our Westin oceanfront weeks. We stay in the one bedroom at Westin and rent the studio for MF's. It works great, and we get to travel without breaking the bank.

Wyndham's discounts and upgrades are great, and I am taking advantage, but I wish the kids would let me know what they want and when, so I am not trying to find things a month out. It makes me nuts trying to find last-minute inventory at Steamboat and Avon, just two examples of drive-to locations I am trying to get for long weekend.

 

[vacationtime1]

Terrible advice. Better advice is to buy what you will use for your own vacations, in any timeshare system. Keep it simple.

+1 -- unless you want to run a capital intensive side business.

@MOXJO7282 and @rickandcindy23 got into this business early, bought at favorable prices, and most importantly, know what they're doing.

Separately, I often wonder what constitutes a "profit" when renting timeshares. If one pays $20K to buy a rental timeshare and earns a $1K annual profit (i.e. rents exceed MF's + costs by $1K), that's only a 5% return. Given the risks of renting (think: 2020), the fact that timeshares inevitably decrease in value over time as there is always something newer and shinier), and that the rules can change at any moment, it is a risky way to earn a minimal return. ymmv