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re: How many people own a condo in Gulf Shores? Is it worth it?
Posted on 7/27/14 at 10:48 am to Lester Earl
Posted on 7/27/14 at 10:48 am to Lester Earl
0
Posted on 7/27/14 at 10:49 am to I Love Bama
quote:
just get a timeshare instead No. Just no.
Yeah when is a timeshare ever a good idea?
If it was...you wouldn't have so many trying to get rid of the ones they have.
Posted on 7/27/14 at 10:50 am to Lester Earl
In 20 years, After all baby boomers die it will be worth about half what you paid, if you're lucky.
Posted on 7/27/14 at 10:53 am to VetteGuy
If I understand correctly the hoa carries insurance on the building and you carry it on your unit.
That's why some hoa fees are so high
That's why some hoa fees are so high
Posted on 7/27/14 at 10:54 am to lsunurse
I know one guy who had one in Disney World. You'd have thought he'd had won the lottery when he got it years ago.
Posted on 7/27/14 at 10:55 am to yellowfin
quote:
That's why some hoa fees are so high
I have heard of some upwards of $800/month. Crazy.
Posted on 7/27/14 at 10:57 am to Cajun Revolution
there are some good deals to be had. Depends on the maintenance costs usually.
Posted on 7/27/14 at 10:58 am to Cajun Revolution
I have a couple friends that own timeshares at a resort in PHX thinking they could use their "time" at another resort elsewhere.
Granted...with one friend we actually used her time at a resort in Hawaii so that was cool, but to my knowledge....she doesn't even use her time each year. I just don't see it ever being a smart choice. I wouldn't want to be locked down to a week or however long and be stuck at just the resorts they have.
Granted...with one friend we actually used her time at a resort in Hawaii so that was cool, but to my knowledge....she doesn't even use her time each year. I just don't see it ever being a smart choice. I wouldn't want to be locked down to a week or however long and be stuck at just the resorts they have.
Posted on 7/27/14 at 11:01 am to lsunurse
I don't really know enough about time shares to have an opinion.
Posted on 7/27/14 at 11:03 am to lsunurse
I would time share in NYC.
Posted on 7/27/14 at 11:05 am to yellowfin
I mean....how great of a deal is it if they have to lure you into a sales pitch with the promise of something else?
I went with my friend to another resort in Sedona for 4 days. She transferred part of her time there. Upon checkin they still hassle you to listen to another sales pitch. In some cases...you have to. While we were in Hawaii she had to go for a couple hours one morning as part of using her time at that resort.
I went with my friend to another resort in Sedona for 4 days. She transferred part of her time there. Upon checkin they still hassle you to listen to another sales pitch. In some cases...you have to. While we were in Hawaii she had to go for a couple hours one morning as part of using her time at that resort.
Posted on 7/27/14 at 11:06 am to Cajun Revolution
my uncle got one for $5k. Beach front in Destin for a 2 week block during July 4th. 3bd 2bath, built within the last 10 years. You cant say that every time share is a sunken cost. Even with the maintenance fees.
Posted on 7/27/14 at 11:07 am to Lester Earl
I rather take that 5K and go do 2 awesome vacations. Beach front property sounds boring as all get out.
Posted on 7/27/14 at 11:08 am to tduecen
quote:
just wondering how easy it is to rent out in the offseason to help reduce the cost.
There is a reason why it's called offseason. If you are going to use it all summer then you may get a few snowbirds, but doubt you will get much rental activity other than a few weeks in may and sept/oct.
Also, some poster pointed out there are IRS regulations that if you stay in it more than a certain amount of time, then it is a second home and not a rental property, so you don't get the tax deductions
Posted on 7/27/14 at 11:10 am to Cajun Revolution
Also...Destin during the 4th sounds it would be crowded as frick.
Les, what happens if he can't go during then? Can he sell those weeks?
I mean....I guess if you are the type that does the same vacation every.single.year. then a timeshare might work for you. But to me....going the same place just sounds boring imo. So a timeshare would never work.
Les, what happens if he can't go during then? Can he sell those weeks?
I mean....I guess if you are the type that does the same vacation every.single.year. then a timeshare might work for you. But to me....going the same place just sounds boring imo. So a timeshare would never work.
Posted on 7/27/14 at 11:10 am to Cajun Revolution
That's not the point. You buy if you know you'll come back every year. It's more conducive to families than world travelers. If you dont plan on doing that, then yea its a terrible idea
ok. And you're so not boring. 
quote:
. Beach front property sounds boring as all get out.
ok. And you're so not boring. 
Posted on 7/27/14 at 11:10 am to lsunurse
I try to stay away from the beach June-Aug, too hot and too crowded.
March-May and late Sept-early Nov is the best time.
March-May and late Sept-early Nov is the best time.
Posted on 7/27/14 at 11:12 am to Cosmo
Preach
Eta: going in a week. Fml.
Eta: going in a week. Fml.
This post was edited on 7/27/14 at 11:13 am
Posted on 7/27/14 at 11:12 am to tduecen
Yes, I think it's definitely worth it. If you're like me, we go there 5-6 times easily during the summer. Its also nice to have an escape during the offseason. You will have no trouble renting to the snow birds who come down for the winter.
Posted on 7/27/14 at 11:12 am to tduecen
Have a 3 bed 2 bath there. Formed an LLC with 5 friends and we rotate weeks. Each family gets 10 or 11 weeks a year. We don't rent it out.
Works well for us. I'm not a beach person, but having it stocked with Supplies makes it easier. The wife and kids like it. All the beach toys, chairs fishing rods etc all stay there.
Monthly carrying costs (HOA, electricity etc) are only $140 per family. If someone wants out LLC structure allows us to handle without closing costs and other issues.
Will do a similiar deal in keystone, colorado soon with another friend. Plan to use colorado place mainly in summer and beach in off season. We will likely rent colorado unit when not used.
Works well for us. I'm not a beach person, but having it stocked with Supplies makes it easier. The wife and kids like it. All the beach toys, chairs fishing rods etc all stay there.
Monthly carrying costs (HOA, electricity etc) are only $140 per family. If someone wants out LLC structure allows us to handle without closing costs and other issues.
Will do a similiar deal in keystone, colorado soon with another friend. Plan to use colorado place mainly in summer and beach in off season. We will likely rent colorado unit when not used.
This post was edited on 7/27/14 at 11:15 am
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