JMAESD84
TUG Member
Good grief, those that dislike my opinions use the same exact logic - they see falling resale prices and declare my purchases a loser.
Guys, you can't have it both ways.
I contend that using my skills at timeshare ownership have enriched my family's life and put cash in our pockets - the very definition of why folks come to chat rooms to learn.
I have no intention of flipping timeshares, like many here have recommended, I buy a timeshare to use it, either ourselves or as rental income - I'm very good at doing this.
But I've stepped on many toes in the process and expect to hear yeps.. Folks be very careful of folks who recommend flipping timeshares or buying them now - especially if they make a livelihood selling the very timeshares they are shouting about.
Don't buy a timeshare in 2010 - either from the developer or resale; unless you have a strong stomach and know what the heck you are doing.
P.S.
Price, of a product or service, tells you a lot. With eBay timeshares going for $1 this is NOT a seller's market and you should not sell if you can hang on. But price tells us that's exactly what is going on - folks are dumping timeshares like crazy and there are folks buying them who believe they made a wise decision. Until the transaction completes that verdict is in the air.
The MAJOR new ingredient to this mixture is risk of bankruptcy by the resorts. We have not had to contend with this before but now becomes a risk factor that is basically unlimited. As more and more owners "walk away" from their MFs the resort must add that lost revenue to the bill of those that pay. This can go on only so long before bankruptcy is forced on the resort.
Then the words "Become an owner in this resort" will ring in your ears and drain your bank account. This is why I don't recommend anyone buy a timeshare under any circumstances in 2010 - this risk factor is new and is frightening.
I certainly don't want to make this thread all about Perry. Your advise to avoid purchasing timeshares now due to the risks involved my prove correct.
However, your agrument that now is not a superior time to purchase compared to when you made your decision to purchase is non-sense.
If I where to purchase now the exact timeshare you purchased and my costs today are significantly less than yours (even factoring in any VALUE) obtained in the years you owned, purchasing now is better than then.
You - Then $15000 acquisition, two years use producing $2600 VALUE, net net $12400.
Me - Now $5000 acquisition. net net $5000.
We now both own the same risk and we both could lose everything invested. Yet your loss is $7400 greater. True that both could prove to be bad decisions, yet in the above example someone purchasing today puts less capital at risk and if there ever is a reward they will realize a greater reward.