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Started By
Message
Time share ?’s
Posted on 8/6/20 at 12:56 pm
Posted on 8/6/20 at 12:56 pm
I do some business with a guy in his late 60’s. I’ve done business with and have trusted him and his family 9 years. He is currently on dialysis and doesn’t know how long he will make it.
He has approached me about buying his time share in Daytona Beach, FL for $1000. He will be on dialysis for the rest of his life and he says he knows we will enjoy it. I looked and other second hand ones are going for $6000-7000 on sites for time share re-sells. The guy has a net worth north of a million bucks so he isn’t hustling for money.
He says the annual fees are between $400-$600/year. We’d get one “owners” week per year.
My wife and I travel a lot, and work arrangements allow for us to be mobile. We have been looking for places at the beach, but nothing seems to fit what we want. But the location and proximity to the beach on this offer is very intriguing.
What am I missing here? Seems like a super deal, but I’m too close to the situation. Please help! Thanks.
He has approached me about buying his time share in Daytona Beach, FL for $1000. He will be on dialysis for the rest of his life and he says he knows we will enjoy it. I looked and other second hand ones are going for $6000-7000 on sites for time share re-sells. The guy has a net worth north of a million bucks so he isn’t hustling for money.
He says the annual fees are between $400-$600/year. We’d get one “owners” week per year.
My wife and I travel a lot, and work arrangements allow for us to be mobile. We have been looking for places at the beach, but nothing seems to fit what we want. But the location and proximity to the beach on this offer is very intriguing.
What am I missing here? Seems like a super deal, but I’m too close to the situation. Please help! Thanks.
This post was edited on 8/6/20 at 2:51 pm
10
Posted on 8/6/20 at 1:04 pm to AugustaTiger
I have never heard anything good about time shares... That is all I got other than I know they are hard AF to unload if you don't want it anymore
Posted on 8/6/20 at 1:04 pm to AugustaTiger
You can have this one for free
Posted on 8/6/20 at 1:12 pm to AugustaTiger
Some free advice - please politely decline and remove this idea from your head completely.
Posted on 8/6/20 at 1:36 pm to AugustaTiger
The only time I could see a timeshare making any sense is if you were able to get it in a highly desirable area during a highly desirable time period.
Like if you were able to get a time share in Park City Utah during the Sun Dance film festival you could probably rent it out one year and pay off a couple of years of fees.
Like if you were able to get a time share in Park City Utah during the Sun Dance film festival you could probably rent it out one year and pay off a couple of years of fees.
Posted on 8/6/20 at 1:38 pm to AugustaTiger
quote:
He has approached me about buying his time share in Daytona Beach, FL for $1000.
So he gets to take a "free vacation" every year to one place that costs $1400-$1600?
Time Shares and pyramid schemes. . . Not good for anyone other than the person on the top.
Posted on 8/6/20 at 1:47 pm to WhiskeyThrottle
quote:
So he gets to take a "free vacation" every year to one place that costs $1400-$1600?
No. My cost to acquire would be $1000. Then $400-$600 annually.
Posted on 8/6/20 at 1:52 pm to AugustaTiger
How old is the unit, how is the maintenance, any capital improvements coming? What is their cost? What week is the rental,
Posted on 8/6/20 at 1:56 pm to AugustaTiger
Is it possible he's trying to offload it so his kids don't have to inherit it?
Timeshares are not a good investment
Timeshares are not a good investment
Posted on 8/6/20 at 1:56 pm to AugustaTiger
Posted on 8/6/20 at 1:58 pm to AugustaTiger
You can rent a nice condo in Daytona (2 bed) for under 2k dependingnon the time of year. Get you some Aunt Catfish’s while you are there.
Posted on 8/6/20 at 2:00 pm to AugustaTiger
Please fix your thread title. It’s as poor as your choice in vacation choices.
Posted on 8/6/20 at 2:38 pm to AugustaTiger
Augusta, fix your damn thread title!!!!!
Posted on 8/6/20 at 2:59 pm to Chicken
quote:
Chicken
quote:
Augusta, fix your damn thread title!!!!!
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