What are the Best Rental Areas?

gkbiiii said:

Here are some basic questions that I have and that I believe would benefit the Tug Group as a whole:

For someone new to the timeshare world, what you all say are the best areas for possible timeshare rental income?

What are the worst areas, to avoid?

What companies do you recommend and why?

What companies should be avoided?

Are there better times during the year to buy?

What are the key contract terms, we should look for?

I notice there are some big TUG Wyndham point owners, what are the advantages, compared to guaranteed income, from DVC points?

Is it worth paying higher Annual dues for such places as Atlantis, the Manhattan Club, & the Four Seasons properties?


If you all have any useful incites, please feel free to post them!!

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Almost any Marriott 2 BDRM plat or high demand gold week something on the beach with a view will rent for a profit. Some for a very nice profit.

gkbiiii said:

Is it worth paying higher Annual dues for such places as Atlantis, the Manhattan Club, & the Four Seasons properties?

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IMHO being locked into the MF's on these properties and hoping as an individual to rent at a premium is probably one of the worst ideas I have seen posted

gkbiiii said:

Thanks for the advice, Denise I am requesting the 2014 New Years from the current owner. This was a good idea, I have not bought any other property in Orlando, due to the over supply.

I may in the future, use the SVV as a way to build StarOptions points, I really like the system, even if my rental business does not work. Anyway, the adventure has begun!

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When purchased resale, this timeshare doesn't have Staroptions or Starpoints.

(IMO) this whole misadventure is folly. Like opening a mom & pop store across from Walmart and hoping to succeed by buying inventory at retail and hoping to compete with Wally-World.

I wish the OP well, but think it might have benefited with some forethought and study.

Jim

Harborside at Atlantis has very high maintenance fees, but if you get gold or platinum weeks there, you will make money.

A few words of advice I would give to anyone starting a timeshare rental endeavor would be:

1. Buy only what you can afford with no rental income initially.

2. The buying public is very fickle and very Internet savvy.

3. Renting a few weeks a year can be a hobby but a rental business is a 24/7 commitment. You may communicate with ten people to get one rental and it's on their schedule not yours.

4. Have a rental agreement ALWAYS in writing.

5. Know that if you use Paypal it is against their rules to take payments for timeshare rentals and they can and will hold your money if they so choose.

6. Spend hours on TUG reading and listening.

This is how I make my living, but I speak to someone at least once a month who is in over their head and needs help because they bought too many thinking they could make instant money doing rentals.

JMHO

Cindy

I tried to find Greg's story of the change in the airline industry causing his Hawaii timeshare rental business to fail, reinvesting in Mexican units and a personal tragedy causing him to have to walk away from that iteration of the timeshare rental business with all of the deeds going back to the HOA

The fool proof way is to invest in Marriotts. Not sure is the same with other name brands but the right Marriotts rentals are money in the bank.

When I can afford it, I think DVC is the truly foolproof way, as points can be rented with David's at $11 per point. I really liked the comment in another thread about combining this income, with investing one's DVC earning with the S&P 500.

I would be think twice about listening to anyone saying that there is a fool proof way.

No matter what or where you rent it is not easy.

am1 said:

I would be think twice about listening to anyone saying that there is a fool proof way.

No matter what or where you rent it is not easy.

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How is it not easy, so sigh over your DVC points to David's http://www.dvcrequest.com/associate/


You do little to nothing and he pays you??

With DVC, I think the biggest hurdle is the expense of the initial investment, because DVC resorts are expensive, even on the resale market.

With any timeshare purchase, I recommend that you only invest money that you can afford to lose.

And I would highly recommend the LLC approach if I was getting into this type of business. There are no guarantees on anything in this world, and I would advise that safety net.

(I know LLC is a four-letter word around here).

Good advice, as I already have one, for this purpose.

Considering one can buy/sell resale DVC points for around the same amount, as well as they are actively sought by reseller; what really is the risk?

You sell what you don't want, for near what you paid for and you rent the others for a guaranteed $11 per point. That assumes you don't try to rent them yourself for near $14 per point.

DVC, and the top hotel affiliated resorts are expensive, even on the resale market - are you financing your purchases, or paying cash for everything?

Just so you know, because of the "Viking Ship LLC's" some HOA's are now refusing to transfer a deed to a LLC.

gkbiiii said:

How is it not easy, so sigh over your DVC points to David's http://www.dvcrequest.com/associate/


You do little to nothing and he pays you??

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Anything can happen. It may work great but whos knows when the music stops.

Wyndham stopped the transferring of points awhile ago and it caught a lot of people.

DeniseM said:

DVC, and the top hotel affiliated resorts are expensive, even on the resale market - are you financing your purchases, or paying cash for everything?

Just so you know, because of the "Viking Ship LLC's" some HOA's are now refusing to transfer a deed to a LLC.

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I only use my own cash, with this and yes I have had some trouble with some HOA's. I refused to proceed with on Canadian & one Mexican property, because of the refusal to take my LLC.

An Example, The Regina in Mexico was ridiculous: wanting me to sign a power of attorney, which would be notarized, then sent to the Florida Secretary of State, to be "apostatized". This because I could not be in Cabo San Locus to personally sign the contract, in the lawyer's office.

They did not want to accept my LLC., however were fine to have me, as their owner. Did I mention that for me, to transfer my ownership to another person, the Regina transfer fee, would be over $5,000+.

Well I told the timeshare agent, based on all this, I would refuse the offer. I am doing this with a Canadian company as well.

This may surprise many of you, but to me, rather I buy a unit or not; is simply based on the contract and terms offered. Success or possible failure, can often be shown here, from the beginning, the contract.