Why own lots of timeshares?

[rickandcindy23]

+1 -- unless you want to run a 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

Buying resale usually holds value. We will get at least 20 years of use out of our Westin weeks.

Our daughter rents our Myrtle Beach weeks, mostly using Koala. I paid $1.00 for most of those weeks. I see they are going for more on ebay than what I paid but still cheap. She still has three listed for this summer that may not rent. Should they sit without renters, I can always deposit the weeks into II as generic deposits, and that is a benefit to Vistana and II. The 2 bedrooms have great trading power.

Wyndham did work to give us a lot of profit, but Wyndham shut that down in favor of their own rental arm, which is fine.

I have been advised by a few people that I should attempt to rent our SDO weeks because I have always deposited the weeks. I don't need more deposits. I have Marriott for exchange purposes, when all of the Sheraton Broadway weeks rent.

 

[jehb2]

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.

We paid like $12,500 for Flamingo & I believe $13,500 for Lagoon Tower before we found Tug and figured out resale. I have no regrets about Lagoon Tower as we purchased before they opened and stay there almost every year. At owner updates the numbers they pass across the desk have been around $70,000-$120,000 for whatever new HGVC timeshare they’re pushing—of course this summer it was HGVMax

And we paid 0% interest on our timeshare loans. A couple of months after we purchased the timeshares, I got an offer from American Express stating I could transfer the balance of any credit card to a 0% offer. No transfer fee and it would be 0% interest for the life of the loan. And there was no limit as long as I was transferring existing loans. I immediately transferred the balance and cut up the credit card. A week later I received a notice Stating that they really didn’t mean you could exceed your maximum balance. But of course the transfer was already finalized.

We paid cash for the resale timeshares.

 

[Mongoose]

Buying resale usually holds value. We will get at least 20 years of use out of our Westin weeks.

Our daughter rents our Myrtle Beach weeks, mostly using Koala. I paid $1.00 for most of those weeks. I see they are going for more on ebay than what I paid but still cheap. She still has three listed for this summer that may not rent. Should they sit without renters, I can always deposit the weeks into II as generic deposits, and that is a benefit to Vistana and II. The 2 bedrooms have great trading power.

Wyndham did work to give us a lot of profit, but Wyndham shut that down in favor of their own rental arm, which is fine.

I have been advised by a few people that I should attempt to rent our SDO weeks because I have always deposited the weeks. I don't need more deposits. I have Marriott for exchange purposes, when all of the Sheraton Broadway weeks rent.

Agree if you buy the right resale. I have bought and sold 7 all for a nice profit over 10 years. I currently am down to three because my new job generates tons of hotel points.

 

[kanerf]

I have been working in D.C. for the last decade while never actually moving there and keeping my home in PA. I use a combination of Wyndham (Old Town Alexandria) and Hilton (The District) to stay in timeshares much of the year. Weekends I go home or stay in a hotel in the area. With average rents around $3000 this works for me. I also use some RCI points that I have from other properties to occasionally trade into other D.C. locations like Wyndham National Harbor.

 

[escanoe]

I have been working in D.C. for the last decade while never actually moving there and keeping my home in PA. I use a combination of Wyndham (Old Town Alexandria) and Hilton (The District) to stay in timeshares much of the year. Weekends I go home or stay in a hotel in the area. With average rents around $3000 this works for me. I also use some RCI points that I have from other properties to occasionally trade into other D.C. locations like Wyndham National Harbor.

Out of curiosity, when you stay at National Harbor, how do you commute into DC?

I can see tourists visiting making some trips into DC, but to me it would be a bit of a pain unless you were paying for parking on both sides of the commute (and driving makes it only slightly less painful).

 

[kanerf]

Out of curiosity, when you stay at National Harbor, how do you commute into DC?

I can see tourists visiting making some trips into DC, but to me it would be a bit of a pain unless you were paying for parking on both sides of the commute (and driving makes it only slightly less painful).

I drive in. There used to be a shuttle from the hotels to the nearest Metro station, but that is gone. I work at a government agency and there is a parking garage under the building.

 

[Sugarcubesea]

Buying resale usually holds value. We will get at least 20 years of use out of our Westin weeks.

Our daughter rents our Myrtle Beach weeks, mostly using Koala. I paid $1.00 for most of those weeks. I see they are going for more on ebay than what I paid but still cheap. She still has three listed for this summer that may not rent. Should they sit without renters, I can always deposit the weeks into II as generic deposits, and that is a benefit to Vistana and II. The 2 bedrooms have great trading power.

Wyndham did work to give us a lot of profit, but Wyndham shut that down in favor of their own rental arm, which is fine.

I have been advised by a few people that I should attempt to rent our SDO weeks because I have always deposited the weeks. I don't need more deposits. I have Marriott for exchange purposes, when all of the Sheraton Broadway weeks rent.

@rickandcindy23 , I'm still kicking myself that I gave away my SDO, here on TUG a few years ago, SDO is a beautiful resort and its in a nice location...

 

[Eric B]

I drive in. There used to be a shuttle from the hotels to the nearest Metro station, but that is gone. I work at a government agency and there is a parking garage under the building.

Sorry about mispronouncing your username this evening. It was nice running into a fellow Tugger!