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 Post subject: Timeshares
PostPosted: Wed Jul 10, 2013 7:03 am 
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Joined: Fri Nov 23, 2012 3:49 pm
Posts: 361
I see the Hilton Group is planning on developing a large complex (240 rooms) on Ocean Blvd near 22nd street North in Myrtle Beach. When will people learn that timeshares are the single biggest waste of money on the planet?

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 Post subject: Re: Timeshares
PostPosted: Wed Jul 10, 2013 7:40 am 
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Joined: Mon May 07, 2007 1:38 pm
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Location: Annapolis, MD
They will keep building as long as people keep buying....

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 Post subject: Re: Timeshares
PostPosted: Wed Jul 10, 2013 10:09 am 
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Joined: Tue Feb 15, 2011 3:50 pm
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Timeshares are a smart purchase, if you know how to be smart about purchasing.

Disney, Wyndham, Hilton and many other worldwide Corp's are involved, why, because they work.

Many wealthy people buy due to the great travel destinations and accommodations, but they buy smart.

Gary


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 Post subject: Re: Timeshares
PostPosted: Wed Jul 10, 2013 10:24 am 
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Gary, you and I are disagreeing too much anymore. Rich people buy them for a tax write off. it's cheaper to not own them due to continually rising HOA fees.

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 Post subject: Re: Timeshares
PostPosted: Wed Jul 10, 2013 10:50 am 
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Phroggy, it's ok to disagree, that's why there are so many choices of products such as cars, clothes, food and more, as some people like one and not the other.


I'm not going to debate you on this subject because I feel you have had a bad experience and you are not alone, yet there are many others that would disagree with you as to the ownership of a timeshare, as it is meant to be, not an investment but a vehicle in which to have superior vacations than you would normally be able to afford.

Gary


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 Post subject: Re: Timeshares
PostPosted: Wed Jul 10, 2013 11:36 am 
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Location: Annapolis, MD
Quote:
Rich people buy them for a tax write off


To quote an old boss of mine... "I have better ways of getting a write-off".

Good Point Emmy - I recall a few people on the board have timeshares and they are not "idiots".

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 Post subject: Re: Timeshares
PostPosted: Wed Jul 10, 2013 11:52 am 
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A Economics teacher who has since retired, bought into a timeshare. He bought it super cheap and has a lot of success with it. I sometimes wish my family did it when he did. So it does work if you know what your doing and how the game is played. If I see him around town, I will ask him about it.


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 Post subject: Re: Timeshares
PostPosted: Wed Jul 10, 2013 1:12 pm 
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Joined: Tue Jul 06, 2004 9:24 am
Posts: 2956
Location: Myrtle Beach
A timeshare can work if you plan to vacation at the same resort every year, or if you purchase a timeshare that can be exchanged for other locations. However, you will lose a significant amount of money if you decide to sell it. Unlike other real estate investments, it will not go up in value.

Some interesting reading from US News July 2012, pointing out some pros and cons:
http://money.usnews.com/money/personal- ... -timeshare

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 Post subject: Re: Timeshares
PostPosted: Wed Jul 10, 2013 5:52 pm 
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Joined: Mon May 30, 2011 5:43 pm
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We went to one of those high pressure timeshare meetings a few years ago at Myrtle Beach. It was actually one of the companies that has been mentioned in this string. It was awful. I told my husband to NEVER ask me to go to another one. They assured us that it would only take 2 hrs, but we were there much longer. I was starting to feel like a hostage by the time I finally insisted that I was leaving.

In order to "buy smart" you need to be able to do your proper research. Check things out. Ask around. If they are desperate and trying to bully you into signing on the dotted line before you leave, you should be smelling a big old rat. A reputable business would not be afraid for you to take your time to make an informed decision.

They get people swept up in the moment with the pie-in-the-sky promises. But you have to think through - do I have that much vacation time after family commitments? Does this make financial sense for me? What do other people who have bought from this company say?

Chances are, you research before you buy a car, a home, even small electronics. In my opinion, it's just crazy to go to a live infomercial and then commit yourself to years of debt on the spot.

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 Post subject: Re: Timeshares
PostPosted: Wed Jul 10, 2013 7:26 pm 
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allow me to apologize to anyone I offended. Emmy is right. I'll try to keep my opinions more objective. cheers!!

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 Post subject: Re: Timeshares
PostPosted: Wed Jul 10, 2013 7:42 pm 
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Joined: Fri Mar 11, 2005 5:34 pm
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Location: New Jersey
Want to say first that I am not offended. :wink: My husband and I own one through Starwood Vacation Ownership and it is far from your "traditional" timeshare. We are completely flexible and able to stay where we want when we want. We aren't locked into anything. With ours we get a deed and able to leave it to our kids.

I'm not going to try to talk anyone into it, just wanted to throw it out there that people are eating smarter about timeshares and there are tons of new inventive programs that make it fun, worth your money, flexible, etc. :cool:

One more thing, our maintenance fee is about a quarter of what we would spend renting a hotel room each year so that in and of itself saves us money. After five years of owning it, it paid for itself. :sunny:

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 Post subject: Re: Timeshares
PostPosted: Wed Jul 10, 2013 7:45 pm 
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Location: New Jersey
clja wrote:
Want to say first that I am not offended. :wink: My husband and I own one through Starwood Vacation Ownership and it is far from your "traditional" timeshare. We are completely flexible and able to stay where we want when we want. We aren't locked into anything. With ours we get a deed and able to leave it to our kids.

I'm not going to try to talk anyone into it, just wanted to throw it out there that people are eating smarter about timeshares and there are tons of new inventive programs that make it fun, worth your money, flexible, etc. :cool:

One more thing, our maintenance fee is about a quarter of what we would spend renting a hotel room each year so that in and of itself saves us money. After five years of owning it, it paid for itself. :sunny:


I for got a HUGE detail. We originally went to the presentation for the free gift with no intention to buy, but once we heard about their program we were interested. BUT we weren't comfortable purchasing that day so we talked to the manager who let us come back the next year, stay on the property for a week for $1,000 and if we decided to buy that money would wrap into our down payment. We agreed and it gave us an AMAZING place to stay very cheap, and a year to research. No pressure from them. :cool:

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