Condo Time Share?

[INXS]

I'm thinking of buying about a 20% stake in a time share in Sun River, Oregon. They have Mt. Bachelor, one of the top 20 resorts in the US, 20 mins. away. They also have a solid 7 month ski season and good summer activities. The only drawback is they have no mt. shuttles.
What I'll like to do is use a week or two for skiing and trade a week or two, RCI program?, with someone who has a unit in the Carribean. A nice 2 bdm, 2 bth unit is about 45K. Any advice on how easy it would be to trade off a week or two, or any other feedback? Thanks!

[Mrs. Restless22]

I dont have any advice....
But I just got back from Oregon a few months ago, and stayed in Bend. It was my understanding that there were shuttles that ran to Mt.Bachelor because there were no parking lots up there :confused: Or am I thinking there are shuttles to the Sister Mountains???
Either way its absolutly beautiful up there, and I cant wait to get back. If you have a boat up there, try to get out to Lake Billy Chinook (sp?). It looks like the Grand Canyon with water in it...amazing! :cool:

[mickeyfinn]

Take it for what it is worth but here is my advice.
DO NOT EVER BUY A TIME SHARE DIRECTLY FROM THE HOLDING COMPANY!!!!!
If you really think a time share is a good deal for you there are several things you can do first. The first thing to do is to get a tour of the resort. Do not under any circumstances buy from them. During this tour you will be given the full court press to buy. They will even tell you that if you come back tomorrow your money will be no good to them. The sales tactics are designed to get you to part with your hard earned cash before you have time to look at it without the rose colored glasses they give you.
While you are there they should show you the common area. After you have made your way out of the sales pitch go to the common area and most have a "community" bulletin board. Here you will find other owners who are trying to sell their unit. Usually a good rule of thumb is to never pay more than .10 to .25 cents on the dollar from what the best deal you could have gotten directly. I would stick more to the .10 end of that scale. The other thing to look for is someone who is willing to sell their week for a one time fee. This will enable you to stay there and use all of the amenities and benefits that any owner can take advantage of. This will give you a good idea of whether or not it is something you want. Usually in a timeshare you will wind up paying each year around the cost of a stay in a nice Hotel in maintenance fees and taxes. So if the amenities don't get used or if you only spend enough time there to sleep then the timeshare is definitely not for you. BEFORE you go tour the place check ebay. LOTS of timeshares available there for pennies on the dollar. Exchanging through RCI is good but by the time you pay the maintenance fee and taxes and the transfer fee you could have just spent the same money on a very nice rental in almost any place you would want to go anyway.
If you stay at the timeshare and you find yourself spending all day at the resort utilizing the on-site amenities and this is the kind of vacation you like then you may be one of the few people for whom it makes good financial sense to be in the timeshare market, however just remember that there are ALWAYS people wiling to sell a single year for the cost of the maintenance fees and this prevents you from having to put out any up front cash. Another good thing to know is whether or not any of your friends are owners in a RCI or Interval International timeshare. Along with being a member of either of these organizations they get the "priviledge" of buying "bonus" time at resorts withing the group. This can also be a cost effective way of staying at one of these very nice resorts.
Oh and don't forget, DO NOT SIT THROUGH THE SALES PITCH FOR NOTHING!!!! MAKE THEM PAY YOU TO DO IT. MOST OF THEM WILL GIVE UP 50.00 TO 75.00 TO YOU EITHER IN A CHECK OR TICKETS TO LOCAL ATTRACTIONS FOR SITTING THROUGH.
That's my advice....If you do choose to buy just know going into it that a timeshare is by no stretch of the imagination an investment. Unless you buy it from someone who is already an owner for pennies on the dollar you will NEVER get out of it what you put into it.

[INXS]

Originally posted by mickeyfinn
Take it for what it is worth but here is my advice.
DO NOT EVER BUY A TIME SHARE DIRECTLY FROM THE HOLDING COMPANY!!!!!
If you really think a time share is a good deal for you there are several things you can do first. The first thing to do is to get a tour of the resort. Do not under any circumstances buy from them. During this tour you will be given the full court press to buy. They will even tell you that if you come back tomorrow your money will be no good to them. The sales tactics are designed to get you to part with your hard earned cash before you have time to look at it without the rose colored glasses they give you.
While you are there they should show you the common area. After you have made your way out of the sales pitch go to the common area and most have a "community" bulletin board. Here you will find other owners who are trying to sell their unit. Usually a good rule of thumb is to never pay more than .10 to .25 cents on the dollar from what the best deal you could have gotten directly. I would stick more to the .10 end of that scale. The other thing to look for is someone who is willing to sell their week for a one time fee. This will enable you to stay there and use all of the amenities and benefits that any owner can take advantage of. This will give you a good idea of whether or not it is something you want. Usually in a timeshare you will wind up paying each year around the cost of a stay in a nice Hotel in maintenance fees and taxes. So if the amenities don't get used or if you only spend enough time there to sleep then the timeshare is definitely not for you. BEFORE you go tour the place check ebay. LOTS of timeshares available there for pennies on the dollar. Exchanging through RCI is good but by the time you pay the maintenance fee and taxes and the transfer fee you could have just spent the same money on a very nice rental in almost any place you would want to go anyway.
If you stay at the timeshare and you find yourself spending all day at the resort utilizing the on-site amenities and this is the kind of vacation you like then you may be one of the few people for whom it makes good financial sense to be in the timeshare market, however just remember that there are ALWAYS people wiling to sell a single year for the cost of the maintenance fees and this prevents you from having to put out any up front cash. Another good thing to know is whether or not any of your friends are owners in a RCI or Interval International timeshare. Along with being a member of either of these organizations they get the "priviledge" of buying "bonus" time at resorts withing the group. This can also be a cost effective way of staying at one of these very nice resorts.
Oh and don't forget, DO NOT SIT THROUGH THE SALES PITCH FOR NOTHING!!!! MAKE THEM PAY YOU TO DO IT. MOST OF THEM WILL GIVE UP 50.00 TO 75.00 TO YOU EITHER IN A CHECK OR TICKETS TO LOCAL ATTRACTIONS FOR SITTING THROUGH.
That's my advice....If you do choose to buy just know going into it that a timeshare is by no stretch of the imagination an investment. Unless you buy it from someone who is already an owner for pennies on the dollar you will NEVER get out of it what you put into it. Thanks for all the details, I'll probably only by low-balling bids, if I buy at all. I'll probably just pick up my warm weather vacations from someone like Apple Vacations, they have some excellent all-enclussive deals. With sking the lodging is only one third of the cost so its not that big a cost. I'll still look into a place but with the idea that someone is looking to dump a unit cheap!

[INXS]

Originally posted by Mrs. Restless22
I dont have any advice....
But I just got back from Oregon a few months ago, and stayed in Bend. It was my understanding that there were shuttles that ran to Mt.Bachelor because there were no parking lots up there :confused: Or am I thinking there are shuttles to the Sister Mountains???
Either way its absolutly beautiful up there, and I cant wait to get back. If you have a boat up there, try to get out to Lake Billy Chinook (sp?). It looks like the Grand Canyon with water in it...amazing! :cool: They have parking lots, its just for conveince, Sun River does not have a shuutle to the mountain. They are planning on getting one going soon though! Did you hear the Sisters has a bulge starting on it just like St Helens had? What you think of Broken-Top Mt.,?

[SoCalOffshore]

Time shares are way over priced and not liquid. Rarely would it ever make sense and only buy resales, if at all. You can take allot of vacations for $45,000.

[ROZ]

Originally posted by SoCalOffshore
Time shares are way over priced and not liquid. Rarely would it ever make sense and only buy resales, if at all. You can take allot of vacations for $45,000.
I agree with you...
There are several vacation rental property agents on line who can assist you in finding locations to vacation around the globe... Most are the same if not better in quality...
Seems like a waste of hard earned money to me...