Are Timeshares a Scam? How to Buy and Sell a Timeshare Vacation Rental
Money For the Rest of Us
J. David Stein
4.5 • 1.4K Ratings
🗓️ 13 October 2021
⏱️ 31 minutes
🔗️ Recording | iTunes | RSS
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Summary
How the economics of timeshare vacation rentals work, and why they can be a great fit for some individuals.
Topics covered include:
- When were the first timeshares introduced
- What are the different timeshare ownership models
- Why timeshares don't appreciate but fall in price after purchase
- What are maintenance fees and why do they keep increasing
- Who is the target market for timeshares and how do timeshare companies market to them
- How timeshare companies make money
- How to sell your existing timeshare
- How to buy a new timeshare
Thanks to Quartr and LinkedIn for sponsoring the episode.
For more information on this episode click here.
Show Notes
The ABC’s of PUD’s (Part II): The Basics of Timesharing—American Bar Association
Second Quarter 2021 Earnings Conference Call July 29, 2021—Marriott Vacations Worldwide
Investor Presentation July 2021—Marriott Vacations Worldwide
Firm to Pay $2.6M, Stop Making False Timeshare Claims—Claims Journal
Related Episodes
24: Timeshares, Preppers and Permanent Portfolios
57: Live Like A Local When Traveling
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Transcript
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| 0:00.0 | Welcome to Money for the Rest of Us. This is the Personal Finance Show on Money. |
| 0:05.0 | How it works, how to invest it, and how to live without worrying about it. |
| 0:09.0 | I'm your host, David Stein, today as Episode 361. It's titled, |
| 0:14.0 | How to Buy and Sell a Time Share Vacation Property. |
| 0:19.0 | I recently got an email from a listener who said that he and his wife felt like |
| 0:26.0 | their purchase of a time share vacation property was one of the worst financial decisions they've ever made. |
| 0:34.0 | He mentioned that he's met other time share owners that are embarrassed to admit that they bought a time share. |
| 0:41.0 | Yet he knows others that have bought and manage and monitor their properties closely. |
| 0:47.0 | They use them to travel around the Southwest during the winter time. |
| 0:51.0 | I'm sort of in the same situation. I can relate to this listener. |
| 0:56.0 | We purchased a time share property in Park City, Utah through Marriott Vacation Club back in 2006. |
| 1:04.0 | It's been 15 years. There's been times I thought that was a terrible decision. |
| 1:10.0 | And yet there's other times that we feel like, hey, that's actually worked out really well for us. |
| 1:16.0 | I've mentioned this time share I bought in earlier episodes, Episode 24 and 57. |
| 1:22.0 | When I went on the mini vac, and that's what it's known as in the industry when you buy a discount of vacation and have to take a tour, |
| 1:32.0 | I was certain I was not going to buy anything, but they convinced me. |
| 1:37.0 | And then LaPrile left the room and not only did I buy one week, but they convinced me to buy three weeks. |
| 1:45.0 | In this episode, we're going to look at buying and selling a time share. |
| 1:49.0 | Is it the worst possible financial decision? |
| 1:52.0 | Or is there economic value there for some individuals that this fits their lifestyle? |
| 1:58.0 | The time share model has been around since the 1960s. |
| 2:02.0 | It started in the UK as an adaptation of families jointly owning a vacation property. |
... |
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