Does this sound like a good deal?

docgambee · May 4, 2012, 02:12 PM

Aloha,

My name is Dr. Seth Gambee. I live in Kona, Hawaii.

My brother-in-law is one of the top timeshare agents in the Western States and works for Wyndham/Kona Hawaiian Village, a gorgeous resort here in town.

I'm considering buying one (and then trying to use to to exchange on occasion for other locations since Hawaii is always in demand and it seems like I'd get great exchange value)

Here's the package my bro-in-law put together for me-

$16,000 package. Good for 1 week year.
$0 down.

10 year loan.
$216 month.
15.5% interest.

annual maintenance- approx. $700.

Seems to be about typical for the market.

Any input is appreciated!

Aloha,

Seth

Patri · May 4, 2012, 02:18 PM

LOL
Your brother-in-law must not like you very much.

Luanne · May 4, 2012, 02:21 PM

Yeah, I was going to post that's a terrible deal.

You could buy much cheaper on the resale market.

If you're buying to trade, not use, Hawaii has some of the most expensive maintenance fees.

e.bram · May 4, 2012, 02:22 PM

If you have a conscience, you can't be a TS salesman.

Kauai Kid · May 4, 2012, 04:33 PM

Check ebay and find out what it is really worth.

Sterling

RX8 · May 4, 2012, 08:41 PM

Your brother-in-law may or not be making a nice commission on this sale, depends on the "floor" of developer pricing. However, as others posted, RESALE will save you thousands.

The worst part of that deal, in my opinion, is not the price but rather the TEN years financing at 15.5% interest rate (financing $16,000, paying about $10,000 in finance charges)

Do you want to pay $2500 per year before you even get to vacation? When you do vacation, you are paying another big sum in annual maintenance fees on top of that.

Rent_Share · May 4, 2012, 09:25 PM

Is anyone but me suspicious of the OP identifying himeself as "Doctor" almost sounds like a Nigerian email

His "DC" credentials are meaningless in context to the question being asked

theo · May 5, 2012, 06:50 AM

Quote:

Originally Posted by Rent_Share

Is anyone but me suspicious of the OP identifying himeself as "Doctor" almost sounds like a Nigerian email

The OP post seems to be considerably more literate and articulate than a customary, marginally coherent "Nigerian prince" / bank official / scammer submission...

That being said, the "deal" allegedly offered to the OP is clearly no "deal" at all, so it's surely a moot point.

jhac007 · May 5, 2012, 08:45 AM

Quote:

Originally Posted by docgambee

Aloha,

My name is Dr. Seth Gambee. I live in Kona, Hawaii.

My brother-in-law is one of the top timeshare agents in the Western States and works for Wyndham/Kona Hawaiian Village, a gorgeous resort here in town.

I'm considering buying one (and then trying to use to to exchange on occasion for other locations since Hawaii is always in demand and it seems like I'd get great exchange value)

Here's the package my bro-in-law put together for me-

$16,000 package. Good for 1 week year.
$0 down.

10 year loan.
$216 month.
15.5% interest.

annual maintenance- approx. $700.

Seems to be about typical for the market.

Any input is appreciated!

Aloha,

Seth

.......and that's why he is allegedly one of the top sales agents! Doc, have you ever financed your cars at that %?

Jim

docgambee · May 5, 2012, 02:19 PM

hey everyone,

Thanks for the feedback

To clear something up- YES

I am a Doctor. A Chiropractor.
Although I admit that some people still don't think we're "real" doctors, LOL
But it's all good.

1st, yes, I was looking to trade it mostly as the resort is only about 10 minutes from my home, so not much of a "vacation". Being new to this TS stuff, I thought it might have good trade value/points, but that benefit is down-graded because of the high annual maintenance fees.

2nd, I was a little suspicious about the interest rate, too,
and when I did the math, I realized that it would be (as someone correctly pointed out) about $10K in interest payments. Ouch. It would probably be less if I put something down, but still...

Anyways, we politely said "No, Thanks", and have found something that looks like a much better option.

Thanks again for the feedback, I've been very pleasantly surprised at the amount of "know-how" in this forum.

Have a good weekend everyone,

Aloha,

Seth

docgambee · May 5, 2012, 02:20 PM

Good points, LOL!

e.bram · May 5, 2012, 07:12 PM

Chiropractor! First cousin to a TS salesman.

rickandcindy23 · May 5, 2012, 08:08 PM

Buy somewhere you want to go, or in a system you see yourself using, but buy it on eBay and pay cash (some are $1.00).

I just bought a Colorado summer timeshare a week ago for $1.00 including all closing costs, and I am still cheering.

I placed an ezsniper bid of $1,200 to make sure I would get it and won it for $1.00.

That's nuts.

Magic1962 · May 6, 2012, 07:06 AM

Quote:

Originally Posted by rickandcindy23

Buy somewhere you want to go, or in a system you see yourself using, but buy it on eBay and pay cash (some are $1.00).

I just bought a Colorado summer timeshare a week ago for $1.00 including all closing costs, and I am still cheering.

I placed an ezsniper bid of $1,200 to make sure I would get it and won it for $1.00.

That's nuts.

Cindy how does that ezsniper bid work? You just bid way high knowing no one will ever hit it? Dave

Egret1986 · May 6, 2012, 08:41 AM

Quote:

Originally Posted by Magic1962

You just bid way high knowing no one will ever hit it? Dave

Put in the highest amount that you're willing to pay for said timeshare. Like Cindy, I have put in the highest that I am willing to pay and have been ecstatic when I'm the only bidder or have won for hundreds less than I the amount that I put in to esnipe. It's a great thing. You never pay more than you're willing to pay or get into a bidding war. You don't show your interest until the final seconds.

rickandcindy23 · May 6, 2012, 08:44 AM

Yes, that's what I do. I was absolutely willing to pay $1,200 with closing costs/ transfer fees included for this particular week, if it came down to it, but no one else wanted it. So it's mine for $1.00! I kind of knew I would get it for under $250.

I lose a lot of auctions because I set my ezsniper.com bid too low. For example, I know what I can get a Sheraton Desert Oasis for, but I continue to underbid, in case I hit one cheap. I also underbid on WorldMark points. Really need a bargain on those to make it worth my while.

Steve NH · May 6, 2012, 12:54 PM

RickandCindy..

and you don't feel any guilt..

not even a little..

maybe for a split second.....

ya you can tell I am just jealous.......

Patri · May 9, 2012, 07:25 AM

Quote:

Originally Posted by e.bram

Chiropractor! First cousin to a TS salesman.

Totally disagree with this rude comment, which has no place on this thread. I respect you as a professional, Doc.

Ridewithme38 · May 9, 2012, 07:41 AM

Quote:

Originally Posted by e.bram

Chiropractor! First cousin to a TS salesman.

Quote:

Originally Posted by Patri

Totally disagree with this rude comment, which has no place on this thread. I respect you as a professional, Doc.

I thought it was funny!

ampaholic · May 9, 2012, 10:06 AM

Quote:

Originally Posted by Patri

Totally disagree with this rude comment, which has no place on this thread. I respect you as a professional, Doc.

Now you see why e.bram is on my ignore list. Rude and insensitive - Ride is just silly

theo · May 9, 2012, 10:19 AM

Quote:

Originally Posted by ampaholic

Now you see why e.bram is on my ignore list.

A great TUG user option is the ability to make invisible that which begs to be made (and remain) invisible.

RX8 · May 15, 2012, 12:49 AM

Quote:

Originally Posted by docgambee

Aloha,

My name is Dr. Seth Gambee. I live in Kona, Hawaii.

My brother-in-law is one of the top timeshare agents in the Western States and works for Wyndham/Kona Hawaiian Village, a gorgeous resort here in town.

I'm considering buying one (and then trying to use to to exchange on occasion for other locations since Hawaii is always in demand and it seems like I'd get great exchange value)

Here's the package my bro-in-law put together for me-

$16,000 package. Good for 1 week year.
$0 down.

10 year loan.
$216 month.
15.5% interest.

annual maintenance- approx. $700.

Seems to be about typical for the market.

Any input is appreciated!

Aloha,

Seth

I do not believe the OP was being sincere with his question about the proposed timeshare purchase. For months he has been promoting a timeshare alternative on the Internet. He even has his own website.

DeniseM · May 15, 2012, 08:31 AM

Quote:

Originally Posted by RX8

I do not believe the OP was being sincere with his question about the proposed timeshare purchase. For months he has been promoting a timeshare alternative on the Internet. He even has his own website.

I just deleted one of his posts which was clearly an Ad. He has Ads all over the internet.

Here is a quote from one of them:

"I'm a former Chiropractor turned entrepreneur/author and I love it."

Rent_Share · May 15, 2012, 08:40 AM

Quote:

Originally Posted by Rent_Share

Is anyone but me suspicious of the OP identifying himeself as "Doctor" almost sounds like a Nigerian email

His "DC" credentials are meaningless in context to the question being asked

So my BS detector was working, just misplaced the point of origin

robcrusoe · May 15, 2012, 08:45 PM

anyone who has spent any time here or there, could easily see that the very first post was just an ad. That being said, there are some very good chiropractors out there who have given me much relief from pain. Do I believe docgambee is/was a good one ....... no

May 4, 2012, 02:12 PM	#1
docgambee Guest BBS Reg. Date: May 4, 12 Location: Kona, Hawaii Posts: 4	Does this sound like a good deal? Aloha, My name is Dr. Seth Gambee. I live in Kona, Hawaii. My brother-in-law is one of the top timeshare agents in the Western States and works for Wyndham/Kona Hawaiian Village, a gorgeous resort here in town. I'm considering buying one (and then trying to use to to exchange on occasion for other locations since Hawaii is always in demand and it seems like I'd get great exchange value) Here's the package my bro-in-law put together for me- $16,000 package. Good for 1 week year. $0 down. 10 year loan. $216 month. 15.5% interest. annual maintenance- approx. $700. Seems to be about typical for the market. Any input is appreciated! Aloha, Seth

May 4, 2012, 02:18 PM	#2
Patri TUG Member BBS Reg. Date: Jun 6, 05 Posts: 2,782	LOL Your brother-in-law must not like you very much. __________________ Be kind. Everyone carries a burden you can't see.

May 4, 2012, 02:21 PM	#3
Luanne TUG Member BBS Reg. Date: Jun 6, 05 Location: New Mexico Posts: 5,588 Resorts: Maui Lea at Maui Hill San Diego Country Estates	Yeah, I was going to post that's a terrible deal. You could buy much cheaper on the resale market. If you're buying to trade, not use, Hawaii has some of the most expensive maintenance fees. __________________ Luanne

May 4, 2012, 08:41 PM	#6
RX8 TUG Member BBS Reg. Date: May 5, 11 Location: CA Posts: 816	Your brother-in-law may or not be making a nice commission on this sale, depends on the "floor" of developer pricing. However, as others posted, RESALE will save you thousands. The worst part of that deal, in my opinion, is not the price but rather the TEN years financing at 15.5% interest rate (financing $16,000, paying about $10,000 in finance charges) Do you want to pay $2500 per year before you even get to vacation? When you do vacation, you are paying another big sum in annual maintenance fees on top of that. Last edited by RX8; May 4, 2012 at 08:53 PM.

May 4, 2012, 09:25 PM	#7
Rent_Share TUG Member BBS Reg. Date: Jun 10, 05 Posts: 3,234 Resorts: WorldMark 15K	Is anyone but me suspicious of the OP identifying himeself as "Doctor" almost sounds like a Nigerian email His "DC" credentials are meaningless in context to the question being asked Last edited by Rent_Share; May 5, 2012 at 07:32 AM. Reason: Additional Comments (RED)

May 4, 2012, 02:22 PM	#4
e.bram Guest BBS Reg. Date: Jun 6, 05 Location: Fort Lee, NJ Posts: 2,563 Resorts: Surfside resort(MA) 3 weeks OceanCliff I&2 (RI) Newport Overlook(RI) 2weeks	If you have a conscience, you can't be a TS salesman.

May 4, 2012, 04:33 PM	#5
Kauai Kid TUG Member BBS Reg. Date: Jun 6, 05 Location: Texas-elevation 950 feet Posts: 3,316 Resorts: Alii Kai II (AKI-2201) 3 wks & Na Pali Kauai (NPP) 2 wks Princeville, Kauai; Maui Schooner (LMB) 3 wks Kihei, Maui	Check ebay and find out what it is really worth. Sterling

May 5, 2012, 02:19 PM	#10
docgambee Guest BBS Reg. Date: May 4, 12 Location: Kona, Hawaii Posts: 4	Thanks for feedback! hey everyone, Thanks for the feedback To clear something up- YES I am a Doctor. A Chiropractor. Although I admit that some people still don't think we're "real" doctors, LOL But it's all good. 1st, yes, I was looking to trade it mostly as the resort is only about 10 minutes from my home, so not much of a "vacation". Being new to this TS stuff, I thought it might have good trade value/points, but that benefit is down-graded because of the high annual maintenance fees. 2nd, I was a little suspicious about the interest rate, too, and when I did the math, I realized that it would be (as someone correctly pointed out) about $10K in interest payments. Ouch. It would probably be less if I put something down, but still... Anyways, we politely said "No, Thanks", and have found something that looks like a much better option. Thanks again for the feedback, I've been very pleasantly surprised at the amount of "know-how" in this forum. Have a good weekend everyone, Aloha, Seth

May 5, 2012, 02:20 PM	#11
docgambee Guest BBS Reg. Date: May 4, 12 Location: Kona, Hawaii Posts: 4	Good points, LOL!

May 5, 2012, 07:12 PM	#12
e.bram Guest BBS Reg. Date: Jun 6, 05 Location: Fort Lee, NJ Posts: 2,563 Resorts: Surfside resort(MA) 3 weeks OceanCliff I&2 (RI) Newport Overlook(RI) 2weeks	Chiropractor! First cousin to a TS salesman.

May 5, 2012, 08:08 PM	#13
rickandcindy23 TUG Member BBS Reg. Date: Jun 6, 05 Location: USA Posts: 16,142 Resorts: Wyndham, RCI, Shell & DVC Pts; Marriott's Willow Ridge Plat;Val Chatelle; Pono Kai; Hono Koa; SBP (lots); SDO; WorldMark	Buy somewhere you want to go, or in a system you see yourself using, but buy it on eBay and pay cash (some are $1.00). I just bought a Colorado summer timeshare a week ago for $1.00 including all closing costs, and I am still cheering. I placed an ezsniper bid of $1,200 to make sure I would get it and won it for $1.00. That's nuts. __________________ April-Williamsburg May-The Donatello August-Westin Princeville

May 6, 2012, 08:44 AM	#16
rickandcindy23 TUG Member BBS Reg. Date: Jun 6, 05 Location: USA Posts: 16,142 Resorts: Wyndham, RCI, Shell & DVC Pts; Marriott's Willow Ridge Plat;Val Chatelle; Pono Kai; Hono Koa; SBP (lots); SDO; WorldMark	Yes, that's what I do. I was absolutely willing to pay $1,200 with closing costs/ transfer fees included for this particular week, if it came down to it, but no one else wanted it. So it's mine for $1.00! I kind of knew I would get it for under $250. I lose a lot of auctions because I set my ezsniper.com bid too low. For example, I know what I can get a Sheraton Desert Oasis for, but I continue to underbid, in case I hit one cheap. I also underbid on WorldMark points. Really need a bargain on those to make it worth my while. __________________ April-Williamsburg May-The Donatello August-Westin Princeville Last edited by rickandcindy23; May 6, 2012 at 08:47 AM.

May 6, 2012, 12:54 PM	#17
Steve NH TUG Member BBS Reg. Date: Jan 22, 09 Posts: 92	RickandCindy.. and you don't feel any guilt.. not even a little.. maybe for a split second..... ya you can tell I am just jealous.......

May 15, 2012, 08:45 PM	#25
robcrusoe Guest BBS Reg. Date: Nov 4, 11 Location: LAW Posts: 421	anyone who has spent any time here or there, could easily see that the very first post was just an ad. That being said, there are some very good chiropractors out there who have given me much relief from pain. Do I believe docgambee is/was a good one ....... no

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