Ebay is the place.
Please foward me any of them at 2000 or 2200 point level. I have not seen any!
Ebay is the place.
Since my original posts in this thread I would NOT advise anyone to invest in a DC – the risk is too great. The DC industry needs to address the simple fact that the only thing that seems to protect your membership fee is that ebullient voice of the salesrep over the phone.
With timeshares, condo-hotels, condos, and fractionals there are deeds and a bunch of real estate laws that hold the agreement together. This is NOT true with DCs. They make it up as they go.
However, if the amount of money you invest with a DC is something that you would have no problems gambling at Vegas, then that amount of money will not be such a loss if the DC decides to liquidate, sell the deeds, and move to Albania tonight. With $1+ M condos and homes as a minimum, it would not take much for the founders to split $100 M.
As far as condo hotels, fractionals, condos....all these have the potential for $100k losses or more..
you are guaranteed to lose an immediate 20% if you want to sell.
T&H members have been absorbed by another DC that bought them out for over $100 million. Thus, the disaster has been solved.
Yes, T&H went bankrupt as they were the original and had a flawed business plan..
No offense intended Bill, but you should cut down on the koolaid. Destination clubs offer some attractive features. However, you seem to have far too little appreciation for the risk involved.
The most important difference between a destination club and a timeshare is that with a timeshare you have a legal ownership interest in real estate. With a destination club you usually have nothing but unsecured promises from a company over which you have no ongoing control.
I would not buy anything. I would save it.
- however it can't hide from inflation and it can't participate in real estate appreciation.
There is a primal desire, by mankind (womankind too), to own things. I heard a wonderful quote once:
“When you own something, it also owns you”
If I had $195,000 that I felt could be “Invested” into something for vacations but didn’t want to lose it or get tangled up with owning yet, another investment property or third home I would simply open a PayPal(s) account and move the money into their 5% Money Market account.
That $195,000 would generate 5% = $9,750 and say you pay 25% taxes would net out to $7,300 per year to spend on www.VRBO.com
On VRBO I can stay right on the Maui beach or right on the Ski slope, or right next to or on the amusement park grounds. Many of these places are more expensive that a DC property!
Renting is such an alternative to owning timeshares or DC’s or second homes or whatever that ALL decisions MUST be based upon the VRBO baseline.
Right now VRBO has 70,000 places you can rent – most for around the MF the owner pays – that condo/home he bought owns him and he must feed it.
That money is about as safe a place as you can hope for - however it can't hide from inflation and it can't participate in real estate appreciation.
P.S.
So instead of getting involved with the wild and wooly DC market, park that cash in a very safe place and rent 6-star resorts/homes/condos and create your own DC.
I guess I didn't adequately communicate the issue which I think is underemphasized in all the cheerleading for destination clubs. Let me restate:
There is a substantial risk that destination club members will lose 100% of their investment and be left with nothing. That risk does not exist in most other forms of vacation ownership.
I agree that destination clubs have a much higher end experience than a "cheap timeshare". I'm not sure how that or your neighbor's Mercedes is relevant to the financial risk issue I'm raising.
The oldest club in existence already has experienced the meltdown scenario. However, "this time is different" for HCC and others.
You think the problem with T&H was that the members were "GREEDY"? Since you didn't explain, I'll guess that you mean they should have known the deal was too good to be true. However, you then go on to talk about what a great deal you're getting from HCC. When HCC goes bankrupt and leaves you with nothing in two years, are you going to say the same thing about yourself?
There is a substantial risk that destination club members will lose 100% of their investment and be left with nothing. That risk does not exist in most other forms of vacation ownership.
I would purchase about 100 or 200 low end timeshares and sell them for 50% above purchase price every 6 months, rent the excess weeks and net $150-200k in income per year. In 3 years, I'd sell the business for $750-1M.
I'm student #1 - reporting for duty
I would purchase about 100 or 200 low end timeshares and sell them for 50% above purchase price every 6 months, rent the excess weeks and net $150-200k in income per year. In 3 years, I'd sell the business for $750-1M.