Timeshares: the good, the bad, and the ugly

Rich Dad Radio Show: In-Your-Face Advice on Investing, Personal Finance, & Starting a Business

The Rich Dad Company

Entrepreneurship, Business, Investing

4.1 • 3.9K Ratings

🗓️ 20 October 2021

⏱️ ? minutes

🔗️ Recording | iTunes | RSS

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Summary

A timeshare, often known as vacation ownership, is a commitment to pay for annual trips to the same resort or family of resorts for the rest of one's life. Today’s guests discuss the key factors to a positive timeshare experience.
Henri Moreau, Founder of Timeshare Properties Inc., says, “Timeshares are a lot like marriage, when you’re in a good marriage you’re close to heaven, when you’re in a bad marriage you’re close to hell.” He goes on to give expert tips on how to avoid timeshare hell, and how to find the right timeshare for your lifestyle.
Timeshares can also be set up in a business entity for maximum tax benefits. Tom Wheelwright, Rich Dad Advisor on taxes, says, “There are times you want to own it as a business, from a tax standpoint, if you are using it as a business it’s much easier to show business proof if it’s set up in a business name.”
Hosts Robert and Kim Kiyosaki are joined by guests Henri Moreau and Tom Wheelwright to discuss what a timeshare is, the pitfalls of timeshares, and the tax implications.
Questions for Henri Moreau? www.wmcredits.net
Tom Wheelwright: www.wealthability.com
Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	Everyone wants to be independently wealthy. You get to live life on your terms, be your own boss,
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1:37.6	Don't be like Charlie. Charlie is that do it yourself or who does himself in. Do it yourself
1:43.6	is good for tile and grout. It is not good for asset protection. Charlie thought he'd save a few
1:49.4	dollars forming his LLC online. With no guidance, he did it wrong. When he sold the property,
1:55.4	he lost thousands and thousands of dollars. He did himself in by trying to do it himself.
	...

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